How a $450k Bendigo fixer-upper made $200k for savvy investor in eight weeks

Investor flips Bendigo home, gains $200k in eight weeks.

Kej Kulane has spent the past 13 years building a property portfolio that includes seven investment properties, with his latest — a $450,000 fixer-upper in Bendigo — gaining $200,000 in value in just eight weeks.

The Sydney-based investor, 33, has bucked traditional homeownership trends, prioritising investment over buying a family home.

“I quickly realised that if I followed the usual plan — working a nine-to-five job and saving for a forever home — I’d be stuck in that cycle for years,” Mr Kulane said.

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“Instead, I focused on investing early, building equity, and leveraging that into more properties.”

His latest Bendigo purchase, originally a three-bedroom home, was transformed into a four-bedroom house with a $70,000 renovation.

“Now it’s valued at $650,000, and it only took eight weeks – that’s the kind of opportunity you look for — where you create your own growth rather than just relying on the market,” he said.

Kej Kulane’s property strategy proves regional markets are booming.

“With Melbourne’s high prices and rising taxes discouraging investors, I saw regional areas as the smarter bet.

“Bendigo stood out because it’s (one of) Victoria’s largest regional hub(s), and unlike some towns that rely on one industry, it has a diversified economy.”

Belle Property Bendigo principal Tim Noonan said the city was proving a magnet for investors priced out of Melbourne.

“We’ve got good rental yields, strong tenant demand, and a city that’s continuing to grow,” Mr Noonan said.

Millennials are rethinking property, choosing investments over dream homes.

“There’s a lot of investor interest, and buyers like Mr Kulane are recognising the value in regional markets.”

Belle Property and Hocking Stuart Victoria and Tasmania head Anthony Webb said Melbourne’s current affordability and strong tenant demand made it a prime market for investors willing to do their research.

“Melbourne’s median house price is around $780,000, making it one of the more affordable capital cities right now,” Mr Webb said.

“But rental properties are in short supply due to investors exiting the market, meaning the conditions are very favourable for those who know where to look.”

Bendigo’s strong rental yields attract savvy investors like Kulane and Gia.

Mr Kulane, who invested alongside his wife, Gaia Isaac, focused on properties with strong rental yields and avoided oversupplied areas.

“I look for tightly held suburbs where demand is strong and supply is limited,” he said.

“Our strategy is long-term we are delaying the purchase of our dream home in favour of portfolio growth.”

“The hardest part is getting started — saving for that first deposit – but once you own a couple of properties, you can use the equity in them to fund future purchases, and it gets easier from there.”

For millennials who feel locked out of the market, the Sydney investor said success was about mindset.

“There are affordable markets all over Australia, but you have to be willing to look outside the obvious places,” he said.

“Start where you can, and build from there.”

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david.bonaddio@news.com.au

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