Thank you so much for your reply! I thought that too, with the $750 per week but my agent (who is also a friend) said next year when the property would be built, there is potential for the rent to be raised to $300 each room so that would make it $900 per week. It’s not set in stone, and it feels like if it were $900 per week then that could work out but at the same time it might not be $300 by next year. So I feel a little bit stuck in the sense of do I take this risk and if it’s $300 per room could it work or am I just relying on hope, timing and luck.

I’ve been doing more research in the area since I made the post and so many investors are being scared out of the market in Vic because of the land taxes etc, but at the same time there is a lot of businesses being opened up and that will create a lot of jobs in that area too. I feel like it’s one of those things where it might be the case of going against the crowd and reaping the benefits in the future when others might be scared off OR it could be that i’m completely wrong and I shouldve been scared off with the others. If it were $900 per week do you think it could work? :))