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My strategy, for what its worth, is thus: Buy, develop or renovate, hold if neutral or positive geared And i think it depends. if i can buy and reno and add enough equity that a sale makes sense I will sell if the property is negitively geared - i dont want all that negitive gearing reducing...

do you have enough of an equity base/bank account to do it? i.e can you hold the mortgage, pay for the reno costs and bills, not draw a wage and survive for 6 months? That would be the first hurdle for me.