What is it you want to achieve and how quickly? I know, the short answer is you want to be rich and you want it tomorrow!

There are a number of options open to you but none will guarantee overnight wealth.

You can buy, renovate the home then sell, or buy, hold and wait for capital gain. Your strategy will differ on what time frame you are looking at and how aggressive your plan is.

In planning your investment strategy, make sure you plan ahead, don’t just buy in an area and hope to win. Research of an area’s growth and plans for infrastructure could make the difference between a ‘wait and see’ and a sure thing.

If you are looking to renovate and sell, open houses can be a valuable research tool. Visit as many as possible in the area you have chosen and look at before and after properties: that is, renovated and unrenovated homes, and you will soon have a clear picture of what sort of profit you could expect.

Another thing often overlooked is the garden. A nice, low maintenance garden can add thousands to the value of a property, as can a front fence. There is no hard and fast rule when it comes to investment but educating yourself can save a lot of sleepless nights.

Of course, you will need an investment loan to fund the purchase, so call me on 0402 203 303 or email me at rob@rwfs.com.au.