ryan mclean wrote:
May I just ask…what difference does it make?

I thought you do't get control over who the valuer is anyway? It is up to the bank to choose their own valuer

Well commonwealth bank allow customers to do their own vals, i had a property valued in September in Milton QLD for $140k via commonwealth bank valuation…[Read more]

yellina wrote:
Dear WestnBlue, 

I am Hari Yellina Property Investor. 

I had privilege to get ANZ Valuation reports, which are done in house. They use APM Home price guide. I am not sure about commbank. 

Thank you
Hari Yellina 
Property Investor. 

Cool. Just want to suss them out.

Do they allow customers to do thier own valuations through…

RamkiSydney wrote:
Hi Guys,
I am new to Brisbane property market and visiting the city this weekend to visit some properties in Alderley, Coopers Plains & Chermside. It would be great if you guys can give some information about these suburbs.

Alderley is considered a good suburb however the local shops there are disintegrating, slowly store…[Read more]

Jamie M wrote:
Which lender was this?

Cheers

Jamie

Commonwealth bank. Its really a lottery who you get in credit in Sydney. Problems only happened when properties where crossed.

I do have a plan in place to resolve all this. Just want this one to settle first.

@Terry

This was the reason to do cash out instead of cross collateralizing, both seem to have pitfalls. Although crossing properties is the worst option.

its true, this is the last time im crossing any property – its been a nightmare for me and the bank manager.

OK i understand now.

What if i had an unencumbered property and the value was 100k and drew out 80k against it. Would it still be in the same position – aka the entire loan interest not being tax deductible?

Yes just picked a 2bed unit up in Southport for $160k rent at $250 p/w tenants been there for 7 years. Close to beach.

Im pretty much buying anything with 2bed Under $180k. Im hoping to get 3 more by may next year. Gold coast is in a very good position for capital growth in the next 24 months – and thats automatic equity.

I cant see your angle….  Im drawing equity to pay for more property for the SAME company.

And if you say thats wrong, well cross collateralizing is the same thing just more risky. How many people have drawn equity to go and buy more property – Nearly everyone I know.

Already have, accountant said theres no problem, just a but more work for him. The properties are in a company/trust and as long as the cashout is used for other company properties theres no harm.

If your not from brisbane, south side has the entry level properties, I recently bought 4 x 1 bedunits with 48m2 floor area for $110k each in Park ridge which is near greenbank and only 4km from sunnybank which are both expensive areas. During the next upturn these units will be worth around $200k each

Stay away from logan unless you find a good…[Read more]

Im only parking it until i find a new property usually under 4 weeks, for every 100k im only paying $420 for a months interest (even less with offset).

With 100k cash i can pay deposits on 5 regional properties, which in turn will make more equity if bought right

ok understand now if you pay $100,000 for the property and the rent is $8,000 p/a your yield is 8%.
 

you mean profit after expenses?