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October 4, 2011 - 7:14 am

I have had a quote for about $350 per stump

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October 4, 2011 - 7:12 am

I don't no about Victoria but up in QLD I have run this exercise and once council put there hand out and once a bunch of other fees and charges have been paid the cost was over $150,000.
There is a fair bit that is required, mainly paper work though.
You will need a town planner

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September 30, 2011 - 12:31 am

Cool thanks, those two rates indicate what I was looking for, I now know my rate is good.

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September 28, 2011 - 3:38 am

Fair enough. It is for a top quality low priced freehold property in a great location, banks love it, will jump on it all day long
looking at 1 or 2 year fixed rates. lowest in the current market

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September 12, 2011 - 2:02 am

good work

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September 7, 2011 - 9:00 am

Shape wrote:

The big 4 bank's commercial department has been quite flexible in the last 4 month, so they would be my first contact. Regards Michael

Thanks

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September 7, 2011 - 4:32 am

Shape wrote:

There's a few that will do it…a matter of choosing the right lender; me giving you a list of lenders will not help you as 1. Some of them only deal with brokers ( whole sale funding….) 2. You may not fit their criteria, so chance of rejection can be high if you dont know their policy + too many credit hit will not help your case Example; one of the bank that may be able to do this is NAB commercial; however one of the issue is they normally use their internal valuers; so the valuation you have is invalid… Now if you chose to go with one of the lenders that will accept your valuation the rate may be higher or application fee etc… So a balancing act of finding the right lender + right deal. Regards Michael

Cool, I do have a broker but wanted to find out which banks would take on this valuation and what there interest rates are before I go back to see him so I have better fireing power.

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September 6, 2011 - 11:07 pm

Shape wrote:

Spoken to a commercial valuer, with most Industrial factory they will value it as vacant due to high vacancy rate due to the recent QLD floods…..however some valuers will still consider as tenanted if: 1. you have a 5×5 renewing lease or more 2. Solid tenant ie the tenant is a franchise and has a well known brand but most importantly also needs a min 5 years continue lease from valuation date. Also on a 70% LVR refinance for a Industrial is def possible because of your location 4217 is an prem area for commercial deals.. Regards Michael

Hi Shape, I have a valuation which was done by a major valuer which most banks use and the valuer did the valuation based on it being tenanted, but one bank has told me they will not give me 70% of this valuation figure as they only look at vacant valuation figures.
There for they want to trim up my valuation, which really means I mite end up with 60% LVR
So what I am looking for is the names of banks that will give me 70% of the valuation that has been done based on it being tenanted.

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September 5, 2011 - 12:35 am

Shape wrote:

Question 1 is probably the most imporant What sort of deal is it? Boarding house? Bakery? warehouse? farm? etc…. —- Generally speaking; ( the list changes quite a bit depending on lender) —-Easier—- Car park Aged care Child care Motel/Hotel ( under 25 units) Pubs Car work shop Offices ( location dependent) Taxi plate Management right Shop front ( zoning conditions) Mixed zone Boarding house ( can be part of residential as well) Muti residential accommodation Block of units > 12 ( under 12 it's still residential lending with some) Rent roll Pharmacy —Hardier—- Private hospital Supermarket Private school Rural area ( population under 10,000) Farm Vet Brothel Clubs New business- start up ( depending on exp) Shopping center

Industrial,

I own the property and want to refinance, but I know some banks will look at it as vacant and others will look at it as being tenanted – the property is tenanted for about 2 more years with further options and in this case the valuation is higher as being tenanted, there for want to use a bank that will look at it as being tenanted.

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August 31, 2011 - 9:04 am

Shape wrote:

Questions to general, need to know: 1. need to know a bit abt the deal ( no point saying CBA etc…if they don't touch your deal) 2. LVR? 3. Loan amount 4. Location ( just postcode is fine) 5. Type of transaction- Investment or self uses? ( ie will you be running the business or renting the premises out?) These are the basic 5 questions. Regards Michael

Shape

2. 70% LVR

3. $850k less 30%, loan amount $595k

4. 4217

5. investment, tenants already in place

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August 9, 2011 - 7:39 am

Shape wrote:

I have never seen any Unsecured debt go above $90,000 and even that was not easy ( strong job stability – 20 + years; self employed and good asset based but was tired up.) With most WA client's especially in the mining industry; it's not about your salary or what you make ( as most are on $100-190k) but it more your job stability the lender is looking at ; 1. Have you been in your current job with same employer for more then 3 years? 2. What are the funds used for? 3. Can you service your current debt easily now? 4. Any asset ? car? property? and value etc The max you would get with most Unsecured debt would be $20,000 – 5 years loans 12.5%- 14%. Once you go above $30,000- it goes to private lenders and the rate is 2% PER MONTH ( short term) on a 30 days bill rate. Regards Michael

Shape, do private lenders require security for a $40k loan at 2% per month?

How fast could a normal lender loan $40k over a house 2nd mortgage and at what interest rate?

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August 1, 2011 - 4:05 am

Start spending your money people, it will help alround.

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July 21, 2011 - 7:18 am

depending on where you are, Qld is around $25-$30 sqm so 170sqm is approx $5000

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June 27, 2011 - 11:57 pm

Thanks everyone

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June 27, 2011 - 11:53 pm

Michael 888 wrote:

keiko wrote:

Yes Coomera is a good place to buy, I beleive you will see good capital gains in the future

Hi keiko,

do you have any data to back up that assertion. Coomera……………….  Boomera has been promoted as the next big thing. I have yet to see Westfield commit to that town centre. If beach side Gold Coast is struggling, what elements will make the family suburbs have good capital gains. I have just moved to the Gold Coast for lifestyle from Melbourne, however have been familiar with this area for quite some time. I am a (waiting and looking) investor however in this market I would stick to Brisbane proper………….BTW I have investment property on the coast however would not buy there now or for quite some time………..keen to hear your thoughts keiko on what will make Coomera become Boomera. IMHO gains here will take a long, long time.

Hi Michael,

I believe there is some good buys in the area, I have seen 3 and 4 bedroom homes that are only 18 months 2 years old sell for as little as $300,000, there is not many places around that have near new houses that have sold in the low $300's, sure you will not see capital gains tomorrow but in the future you will see CG and when Westfield end up building there mall, then the area will grow very quickly.

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June 24, 2011 - 1:46 am

The GOV should allow property buyers to pay the stamp duty off, so that it keeps the economy going as some buyers find it hard to save a deposit let alone $15k for stamp duty.

Maybe the bank loans the stamp duty to the buyer inside of there home loan and then it gets paid to GOV but if the home owner goes belly up then the GOV pay the stamp duty back to the bank, at least this way it will make it easier for property buyers. the bank will make interest on the money and the GOV will not loose as it is only a bit of paper work being shifted around, and I am sure there would be more transactions happening each year due to more people being able to afford it.

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June 23, 2011 - 12:47 am

Yes Coomera is a good place to buy, I beleive you will see good capital gains in the future

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June 20, 2011 - 6:49 am

That poor developer is just trying to make a dollar, LOL.

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June 20, 2011 - 6:35 am

The bank calculates the interest on a day to day basis

I am thinking your loan is for about $300,000

Say if your paying 7% x $300,000 = $21,000 p/a divide $21,000 into 365 days $57.53 per day, have a look at your bank statement and count the amount of days between payments. so say if it was from 18/04 to 20/05 this equals 32 days x this by $57.53 = $1,840.96. you will need to use your exact interest rate and amount owing to get the exact figure that should be leaving your account each month

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June 15, 2011 - 7:02 am

Greedy Government