My best friend made all his money through property.He bought...

My best friend made all his money through property.

He bought 300+ acres on the outer suburban Melbourne fringe in the mid nineties for $500,000 during a downturn.

Subdivided a small section into 10 acre lots and sold off one a year to cover his costs and for money to live on

Fast forward to today, still 150 acres left, has just been rezoned residential with the new Melbourne boundary changes, official valuation came in last week at 12,000,000.

Also has 4 houses bought and rented out, the deposit for these came from some left over proceeds from the 10 acre lot sales. These houses are now almost paid off and their value has skyrocketed over the years.