This is an interesting thread for me as I have been recently thinking the same things.
I bought my first property 9 mths ago and it is my PPOR. It had no exterior appeal however it is a beautiful character home with good solid structure and well maintained interior, so I have been busy landscaping it and am about to add a garage and give it a repaint.
When I bought it I borrowed $220K (95%). I have had an informal appraisal based on the improvements I have made plus the garage addition, suggesting a value of around $280K so around 21% equity. With additional work I have in mind I would expect a value of $300K+ in the next 12 months.
I have discovered a real passion for landscaping/painting and the like so I want to get my place finished them buy another to do the same.
Has anyone got any starting out success stories to share to give us newbies some tips?