Hi all,
 
Thanks for all your valuable inputs.

I got RP Data and Residex report and report from local RE agent.

After reviewing both reports and if I use Residex comparables sales method then the valuation is about 20% higher then the one did by the valuer.

However, I am not sure how to pitch this to the valuer or go to another lender.
The…[Read more]

Yes, I did change the lender. But the valuation company put the same valuer in both valuations. The valuation systems assigns it randomly and I was advised that I don't have any say or control over choice of valuer.I paid for the valuation report. Very strange to me. I have challenged the valuation with some new data about comparables sales,…[Read more]

Hi Menunes,Thanks for your reply. I just wonder if we want to focus on gaining some equity, then going by "on the market" purchase prices of the properties against the valuation outcome. Lender's will consider valuation in future for allowing more lending. Yes, you are right , it can slow down your asset acquisition in a conservative market…[Read more]

Thanks.

So far I have understood the following steps from Richard’s response –

1. Set up line of credit(LOC) with existing lender
2. After LOC is approved, use LOC for loan application with new lender
3. Demonstrate part of LOC as deposit towards next Investment with the new lender

However, in my case, the order of events is bit different.
I…[Read more]

Thanks, Richard.

Yes, it will be a new lender for the new loan.

Instead of “Re-Draw” what is the appropriate word?

Is this kind of Split loan called Line of credit home loan or equity home loan ? Or some other name?

Any online information about these kind of loans ? I am happy to look up if I know what this thing is called in Bank’s…[Read more]

Hi all,

Thank you very much for your inputs.

Apologies for a late reply.

I was busy planning for our 2 nd Investment Property(IP).

Update.
I am in the process of purchasing one.

I will not cross securitise. I do not intend to sell but I guess main reason is to have better access to equity.

And the method I am advised is to –
1. Put IP…[Read more]

Hi all,Thanks for your valuable comments.I have started considering Brisbane market. The market is pretty flat now. But I am hopeful that there is a scope for profits, if you buy well-located and right kind of property, considering the next 10 years time-line.Regards,WC

Hi Buymore,You can also use Nearmap, a new mapping tool in addition to Google maps. http://www.nearmap.com/It is a relatively new tool developed by an Australian company.I think, it is a handy tool for all property investors.The image resolution is nice. Google maps is good for directions, distance calculations, finding places of interest…[Read more]

Hi all,Thanks for your valuable insights. I am reading Michael Yarndey's book. It is interesting and useful.I guess in 2010, affordability is key for buying an asset in any of 3 major markets in Australia.I am also interested to find out about any historical studies done that shows trends in supply/demand Vs affordability in Brisbane,Sydney and…[Read more]