Gearing based on much reduced property values. remember they...

Gearing based on much reduced property values. remember they have been pummelled..rents have not gone down the same percentage.
Replacement costs would be probably double at a minimum valuations at the moment. Time will turn this one around, the income is still coming in and the banks are very supportive, loans extended etc.

Extra cash is paying down debt all the time.
2 years from now it could be a complete different scenario and if dividends commence down the track of even 1c per yr(it was up to 10c) thats a 3 bagger on current price (based on 10%) return... hopefully it will help me retire for the third time