Buy in rising markets
As many as we can, hold a couple, sell a couple. Alternatively, you can access the equity, however if they are -ve you would not want to be holding these properties when the market turns, unless it can be developed down the track. Of course there is CGT, stamp duty etc, however if you are still pocketing $50K after expenses and you sell 2 and move on, that's fine IMO. ($100K profit back in the kitty).
Develop
Buy 2/3/4 unit development sites and sell some, keep some, take some money off the table. Continue to have 2, 3, 4 development sites ready to go. Start small and then grow. Jump into more than one market, I am currently building in Perth (3 unit site) and just got plans and permits approved for Melb 4 unit site, commence in July/August (thanx Oscar
.
Most importantly find markets that are moving and that suit your budget, needs equity for this one while building.
Renovate
Buy a property under market value, hard at the moment too many markets moving. Add value, either sell or access equity.
This is my least favoured, IMO to make this work you need to be a hands on person, in other words do it yourself, no thanks, that is way too much work for me.
Sell your skills/time
If you have some sort of skill offer your services ie sourcing properties, mentoring, start a business if suits, help others achieve success in property.
Just some ways to bring some cash on the table while continuing to grow a property portfolio.
Cheers
MTR