Hi all, I have been following this forum for awhile now as a corollary of trying to understand more about the property market, particularly in Melbourne. I have appreciated hearing others on the ground reports from auctions to negotiating deals in "hot" areas. Whilst I have tossed up the idea, at present i am not a potential investor but rather a person looking for a (fairly priced) first home to live in. Just a liveable fixer (a bit) upper. And initially I believed investors were my competition. Yes I want the 2brm+ house and yard (our large dog has something to do with that too) with room to improve. There are very affordable areas in Melbourne but the entry (stamp duty) and lifestyle (proximity to work, family, things etc.) costs prohibit "climbing the ladder" within the time we would look to trade up. Hence, we wait and watch..and save our pennies...and our fifties. I am curious to see what seasoned investors make of some of the "deals" in my area. As a FHB with a business mind even i believe FOMO and irrational exuberance is driving some of these deals. I can understand the emotional attachment driving a PPR purchase in the current marker but to me they make no sense. Business or otherwise. Three examples: To me, an utterly crap investment for the buyer that seems to be an afterthought to the developer: Sold Price for 1/89 Purinuan Road Reservoir Vic 3073 Location wise ok but difficult to develop and a risk in the current market with (still unsold) OTP apartments going up left right and centre: Sold Price for 25 Bent Street Northcote Vic 3070 Insanity (for the area), unless you own the block next door: Sold Price for 53A Pender Street Thornbury Vic 3071. The park is nice though. What do you folk think? Could you turn a profit?