Yeah, not really a strategy that has worked for us. Remember the houses we bought on Williams St, Drinkwater Dr, Witt Ln, Marshall Rd and now the house we have on McCrone Cr? None of those increased in value...You are probably correct. But he could be saying you should get a little fixer-upperer in Penrith on much less coin and develop it into a $1M property.
Sometimes you gotta throw decent money at the best available property in order to increase your portfolio...