Miles Rodenberry was a property investor. He bought houses, kept them for a couple of years, and sold them on for three times the amount of money he’d acquired them for. He lived richly and happily.
So, imagine his surprise when scrolling through a real estate website, he found a listing that read as follows:
PRIME PROPERTY IN MELBOURNE’S CBD, IN THE HEART OF THE CITY! CLOSE PROXIMITY TO THE STUNNING YARRA RIVER! LESS THAN FIVE MINS WALK FROM FLINDERS ST. AND FED. SQUARE!
THIS GEM OF A PROPERTY WILL DELIGHT EVERYONE, BOTH WITH ITS LOCATION AND CHEAP PRICE, CONSIDERING OTHER CBD REAL ESTATE CAN GO FOR SEVERAL MILLION DOLLARS!
JUST $95,000! BUY TODAY.
There was no picture of the property, only a picture of the Yarra River. It said, ‘Address on request’.
Miles was not usually impulsive. But he knew a deal when he saw one.
Ten minutes later, he was 95,000 dollars poorer.
The real estate agent contacted him shortly afterwards and told Miles what he now owned.
Imagine the investor’s surprise when he found out he now owned twenty square metres of muddy riverbed!
Poor Miles never got his 95,000 buckaroos back…
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