Hi Acorn when I bought that bungalow,it was $36000,it was a...

Hi Acorn when I bought that bungalow,it was $36000,it was a simple deal no lawyers and did the finance with the State Savings Bank of Victoria.

At that time,and I hope you are sitting down---- the depreciation on a fixed item such has the kitchen cabinets was a whopping 25%---- that's not a numerical mistake.

The brand new hot water unit put in was paid for in 4years.

If you insured the property for what you purchased it for and it burn't down you got the total amount of $36,000.

Considering that the actual land doesn't turn to cinders it was quite a handsome deal.

Rent was $80 per week for this classic 4 bedroom Californian, you can see what type of return you got and that was also encouraging.

As Marrianne Hopkins used to sing ( thoughs were the days my friend,we thought they would never end)