1) Target the right kind of property
If you have the tools and determination, a property investor can find investment property renovation projects in almost all locations.
Ideally you should look for investment property at least 20% below the suburb median price, which is also poorly presented and cosmetically distressed.
For example investment property with:
- Poor street appeal
- Tired paintwork
- Poor landscaping and dated outdoor living
- Dated interiors that has fundamentally good bones.
The key is targeting properties with potential that you make improvements and add value to, for the type of buyer or tenant looking to reside in that area.