Aaron_C replied to the topic Will a lending institution take an independent prop valuation? in the forum Finance 11 years, 11 months ago
You can get lenders who will accept a valuation from a lender who is on their panel, even if it was originally done for a different lender. Done it plenty of times.
Aaron_C replied to the topic Selling with neighbor in the forum Help Needed! 12 years, 6 months ago
The valuation is not your problem. But generally speaking two properties combined into a development site will be valued as a commercial prospect, which will attract a higher valuation if the feasibility is good.
Aaron_C replied to the topic Selling with neighbor in the forum Help Needed! 12 years, 6 months ago
Sounds like a fine plan the only thing you’d need to do is sell the properties together. Which means there will be two contracts and each contract will be conditional on each one being sold.
Aaron_C replied to the topic broker clauses? in the forum Help Needed! 12 years, 6 months ago
Hmm……strange behaviour from your broker tbh
Aaron_C replied to the topic SMSF Commercial Borrowing in the forum Finance 12 years, 6 months ago
Yes I think your broker should be the one advising you on the different lenders and their options. SMSF Commercial isn’t that difficult but you have to watch for annual reviews, ongoing fees and whether your SMSF/Custodian deed matches up to the lender’s.
Aaron_C replied to the topic Wait for equity or spend savings in the forum Help Needed! 12 years, 6 months ago
Not harsh Jamie – they really have no idea.
Aaron_C replied to the topic Paying Off Investment Loans in the forum Help Needed! 12 years, 6 months ago
Put any excess cash you have into an offset account against the loans so you don’t pay down the loans but effectively reduce your interest repayments.
Aaron_C replied to the topic Purchase as PPOR, change to IP loan structure in the forum Hi mellowtool – it’s hard to 12 years, 6 months ago
Hi mellowtool – it’s hard to answer your question without more details. Have you consulted a broker/bank to see how much you can borrow?
Aaron_C replied to the topic Best setup for brothers buying investment property together in the forum Help Needed! 12 years, 6 months ago
A unit trust might be the more appropriate structure to make sure you establish the proper amount of % shareholding of each person. It avoids disputes as to who owes/owns what.
Aaron_C replied to the topic Recommendations of mortgage brokers in adelaide in the forum Just pick up the phone and 12 years, 6 months ago
Just pick up the phone and call any recommended broker, no matter where they are based. Face to face is not always necessary these days but I understand some people want that personal feel to it.
Aaron_C replied to the topic Lower valuation than the purchase price in the forum Help Needed! 12 years, 6 months ago
This is very common. Find a different valuer, one that is on the panel of other lenders if you think this is going to be a problem. Ask your broker to find one for you.
Aaron_C replied to the topic First IP – comments/suggestions please in the forum Help Needed! 12 years, 6 months ago
For a sub-80% lend it’s much easier to get finance and the type of property isn’t that relevant. Now all you need to decide is which type.
Aaron_C replied to the topic First IP – comments/suggestions please in the forum What LVR do you need?
12 years, 6 months agoWhat LVR do you need?
Aaron_C replied to the topic Best way to transition out of current PPOR to become IP2 and move to new? in the forum What you can do is get a 12 years, 6 months ago
What you can do is get a rental appraisal for your current PPOR. Then when you purchase the new house you can service the new loan. Just avod cross collateralisation if possible – there’s no need to move out first.
Aaron_C replied to the topic Advice on early possession and mortgage issues in the forum Help Needed! 12 years, 6 months ago
Hmmm problem is you are going into to a conforming lender that requires payslips. Your broker really should have organised alternative funding through a non-conforming lender as they should have known your situation with no payslips etc.
Aaron_C replied to the topic What is the best structure for a real estate investment partnership ? in the forum The advice of one director 12 years, 6 months ago
The advice of one director is a good one for guarantee reasons. But in reality this may not always be possible.
Aaron_C replied to the topic Subdivideing corner block in the forum Age isn’t an issue as long 12 years, 6 months ago
Age isn’t an issue as long as you argue it properly. As for subdivision, you need to study your numbers properly and talk to Council at the very least.
Aaron_C replied to the topic Serviced Apartment – Owner Occupied in the forum Help Needed! 12 years, 6 months ago
Why are you so focused on Serviced Apartments anyway if you know the risks?
Aaron_C replied to the topic ‘As is condition’ in the forum Help Needed! 12 years, 6 months ago
Yes banks do not accept conditional offers during a mortgagee sale. Hence why if you want a B&P report, you have to pay for it yourself and take on the risk if it’s good or bad. Good luck with it.
Aaron_C replied to the topic Townhouse with lease back arrangements in the forum The cons with this type of 12 years, 6 months ago
The cons with this type of purchase is that the banks don’t like it. Usually they will discount the ‘rental’ you get when assessing your serviceability to the normal market rate.
In the link you have provided, it is basically a serviced apartment – which lowers the maximum LVR to about 70% in many cases.
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