I purchased this property in Mt Druitt 6 months ago for $205,000 and it rents for $360pw or nearly 10%. Unrenovated it was renting under my ownership for $320pw. The previous owner had it rented at $240pw. This is proof that deals are out there you just need to be proactive to find them and make them happen.
I spent $5,000 - $5,500 on renovation and worth $270,000 now.
The fun stuff is below.
Pics - http://binvested.com.au/205000-purchase-western-sydney-reno-5000-rent-360pw-new-value-270-290k/
Video
Before - http://www.youtube.com/binvested#p/u/5/HhmZY7Vcc5M
After - http://www.youtube.com/binvested#p/u/1/MAzWkTWivA0
I spent $5,000 - $5,500 on renovation and worth $270,000 now.
The fun stuff is below.
Pics - http://binvested.com.au/205000-purchase-western-sydney-reno-5000-rent-360pw-new-value-270-290k/
Video
Before - http://www.youtube.com/binvested#p/u/5/HhmZY7Vcc5M
After - http://www.youtube.com/binvested#p/u/1/MAzWkTWivA0