Probably not smart to put it all in FAX -- but depends on the extent of other sources of income.
Apparent good performance of Aussie economy (low inflation, prospects for growth). Sells at a discount to NAV. Probably some good opportunites in Asian bonds. -----
Fixed income investments -- you need further interest rate declines and/or currency appreciation to get growth in NAV. Declines in NAV in the past 2 years as dividends exceeded earnings (minus portfolio losses). Leveraged by Preferred Stock (makes for more volatility). -----
Debatable item (and biggest risk factor):
Currency value. (I have seen the commodity argument go awry before.) On the other hand, I believe that increasing US trade deficits and net debtor status of US make the US$ increasingly vulnerable. -----
Comments re Value Line:
Their coverage of REIT's is very limited -- only 15 or so of the largest REIT's vs over 250 REIT's out there. I have seen many of their 3-5 year projections go awry -- they don't have the best analysts on the Street. -----
You should probably put some funds into 3 or 4 of the following REIT's: MT, SKT, TRI, CEI, TCT, JDN. All have yields of 10% or more and some prospects for growth (except JDN, which has a 7% yield and better internal growth prospects), but do carry some business risk -- that's why I would spread it out -- the REIT's are in different sectors.