Thanks Joanne and wealthforlife for your replys,

I have been researching for 2mths now, everyday,  trying to find a positively geared property and am yet to find one I can confidently say this is it. I am not disheartened tho as each new possibility comes closer to what may be suitable.

I dont think this subdividable property will fit the criteria and I just wonder for an investment of 300K if there is any in Melb-Victoria that are, if so where? Thats the big question I guess.

I have started looking at Bendigo which is a bit of drive from my place but its looking more positive than Frankston and closer suburbs.

I think Negative gearing is great if you already love your work and your earing so much you need a good tax deduction, then it makes sence.

Cheers,

Mazstar.