If you had $50k & a goal to create $500k in equity over the next 5 years what would you do? Proposed Strategy: Adelaide (south, north) reno & refi. Buy @ 200k x 85% LVR, $10k reno reval. At $230k refi @ 90% LVR = $37k cash out Do this every year and by 2021 (assuming 4.00% year on year growth) = manufactured $450k equity. Focus Questions: Will Adelaide grow @ 4.00% every year until 2021? Can I refi & withdraw cash up to 90% (assuming serviceability is OK) Is 5 x low end properties in north/south Adelaide too high concentration risk?