Since the first edition was written over 2 years ago, the property markets throughout Australia have changed dramatically. On the East Coast the markets have moved out of their slump to a strong market and in Perth and Darwin the property markets have slumped. When I first wrote my book I was alone in saying that it was time to take advantage of the countercyclical opportunities our property market presented, when others preached doom and gloom. Now many other commentators have realised I was correct. Our changing economic conditions, interest rates and property markets mean that some of the strategies, techniques and ideas initially discussed now need to be updated. All this means is that the new edition of the book will be a valuable resource for both the beginner and experienced property investors for the foreseeable future.