I don’t know if this will help you come up with a topic but I had my first attempt at doing what you suggest in your books and here is my experience. I managed to get an investor to put up the funds, purchased a 3 bedroom brick veneer for $282,500 in Seddon in VIC, renovated it for $35,000 and put it back on the market. Had one offer at $350k before auction which we did not accept but have not been able to get anymore since, including no bids at auction. We wanted $360-370k for it. I have read all your books including many other authors, thought I knew everything I needed to know before getting started. According to my assessment of the area I should have been able to get my asking price. All other places in Seddon are selling like hot cakes. Seddon’s median house price growth in the last 12 months has been 12-13%, so I have chosen the right area. Buyers are very complimentary about the house to the agent, and the only negative feedback the agent is getting is that the living areas are a bit small. I am puzzled by this as although they are not large they are not too small either. The only thing I can think of after several discussions with the agent is that I have underestimated buyers requirements for indoor/outdoor living i.e. the living areas don’t adjoin an outdoor entertaining space, the garage doubles as an outdoor entertaining space but is not directly connected to the living areas.

So, in actual practice, making a profit for the novice is not that easy. I chose the right suburb, street, house, investor to work with, had good tradespeople-was able to turn the project around in 8 weeks, had what I considered a good agent and perhaps the only mistake I’ve made is perhaps have chosen a house with the wrong layout – and now cannot find a buyer. I feel like it’s really hard, as I’ve put in so much effort, got most areas right but perhaps just one wrong which has had such enormous repercussions.