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Top tactics for increasing equity

By Staff Reporter

Victor Kumar, director, Right Property Group

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One of the easiest ways to increase your equity in a property is to obviously undertake a cosmetic renovation. Now one of the rules of thumb that most people implement is that for every dollar that you spend on renovation you need to be making at least $3 in equity. Now often that does not work out because if you're focussing totally on properties with renovation potential the first step is to actually  buy it at the right price. So it spall starts with buying that property at the right price so that you can actually manufacture the equity.

 

Listen to other instalments of The Smart Property Investment Show:
Episode 96: BONUS EPISODE: Tips for tackling pest and building inspections head-on
Episode 95: The top 10 things every investor should check before buying a property
Episode 94: BONUS EPISODE: From 1 to 28 properties – what's his secret?
Episode 93: 28 properties and an $11.5 million portfolio – how this investor did it
Episode 92: BONUS EPISODE: Investor reveals top tips for better property management
Episode 91: Why being 'pedantic' about property will enable this investor to be debt-free by 45
Episode 90: Portfolio update: SPI gives the inside scoop on its latest property purchase
Episode 89: Renovating as a couple: two young investors share their story
Episode 88: Everything you want to know about the short-term rental market revealed
Episode 87: BONUS EPISODE: Former Olympian shares his property development know-how
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Top tactics for increasing equity
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