Hi Jase

Are you sure the PPOR is going to be $16k in the red each year? 

What rate is the loan?  Is it IO or P&I?

To lower the costs while you're away – I'd set it up as IO if you haven't already.

Cheers

Jamie

Yep, where are you looking?

Jac m who posted in this thread does.

Hi Corie

First thing to do is ask the broker to challenge the valuation – sighting the other properties he financed as comparable sales. He/she will need to come up with three comparable sales within the last 6 months.

Secondly (and do this at the same time) – have your broker arrange a couple of upfront valuations with different lenders. I'm…[Read more]

Nue – not only are they used for interstate purchases. I've had plenty of clients use them for intra-state purchases too. 

Cheers

Jamie

Jay Sizzle wrote:
And it was good to get a professional unbiased opinion of the property – which was actually inline with our own estimations of the properties worth. The valuer also pointed out some things which we had not consider, which was valuable advice.

is there any point in using the valuation as a bargaining tool in negotiations with…[Read more]

LMI providers also have exposure limits to clients as well.

When it comes to lender exposure – I usually try to avoid having more than $1m with the same lender.

Cheers

Jamie

Then so be it – you've got an idea of what it's worth.

If it's less than what the property is advertised for – offer less.

Keep in mind that whichever lender you go with will want to conduct their own valuation too.

Cheers

Jamie

I think they're great.

However, like any profession – the quality can vary quite a bit.

If you've got the time, knowledge and ability to source and negotiate on your own deals than a BA might not be appropriate for you. If you don't – then a BA could be a very good option.

Cheers

Jamie

Hi Jay

If you're going to arrange a full valuation then you'll need consent from the vendors to allow access to the property.

My main issue with this option is that you could look too keen.

You could ask your banker/broker to generate some desktop valuations for you – that will give you an indication of the properties value.

Cheers

Jamie

No worries at all and best of luck.

Cheers

Jamie

I've been told that Kevin Zani from http://www.beaumarisbusiness.com.au/ is pretty good.

Cheers

Jamie

Not a valuer but I use residex and APM – don't have an issue with either. Both present nicely – both draw similar data from similar sources.

Cheers

Jamie

Hiya

Diploma is now a requirement – can take anywhere between a day to a few months depending on how you tackle it. It ranges from intensive face to face courses to online courses that you do at your own pace.

Your aggregator might be able to help set you up with a mentor. A good mentor is one of the keys to success – so look around and choose…[Read more]

Jen@ wrote:

The issue is that I now have no job, so I don't think a bank will lend me money. 

Hi Jen

Are you generating any income at all?

Cheers

Jamie

Personally  – I'd look for something that's in an area where growth is likely and can be renovated for an equity gain.

The first IP I ever purchased was a cheap 2 bed unit that we spent $3k on renovating after work hours – after a few weeks, it valued up by $40k more.

Cheers

Jamie

Sometimes it's worth traveling for good advice

Can't comment on the others.

Cheers

Jamie 

Check out House of Wealth's Sydney office – not sure where they're located but I think Terry W is affiliated with them so can't go far wrong.

Cheers

Jamie

Hi Ailime

Looks like you know more than your friends accountant

1. No – they will still only be able to claim against today's loan balance – not the redrawn amount.

2. They can do that – but those redrawn funds aren't going to be deductible.

3. I would change the current loan to IO now so they can preserve the current principle…[Read more]

Give Terry a buzz – he clearly knows his stuff.

Cheers

Jamie

I usually just have the $250 automatically transferred at the end of each month – it's a little bit more than is required so usually that LOC has a little bit available.

Cheers

Jamie