Agree with what you are saying. I think the highest returns are in mining towns or areas changing. Also the highest risks. Buying into run down areas and waiting for change can be frustrating and challenging not for the faint hearted. How many people remember Fitzroy and Brunswick as no go area. You learnt to fight or run real quick. Now look at them. Perth has some added problems and no go areas. But they are generally not as bad as the press and urban myths suggest. Really need to do your homework and know when to get out. When I renovated in Midland I had a Bull terrier that sat at the front, nobody ever bothered me.
