Recent content by JaneS

  1. J

    How is borrowing power calculated?

    Eddie, the real issue you may have is being employed on a casual basis. Lenders tend to prefer permanent employment rather than casual employment. If you convince your employer to employ you full time but still on a casual basis it will not assist as much as moving to permanent basis, even if it...
  2. J

    Tenant won't accept 120 day leave notice.

    Hi Bludger, Reading through this thread causes me to wonder how strong and competent your PM is. In my experience they very much work for the landlord in Victoria and would advise you how to proceed so that you can be totally confident that your 120 day eviction notice will succeed. If the PM...
  3. J

    Retirment plan

    Following on from Alexlee's comments about doing the numbers, in my network we work out what income we would like in our retirement years. Let's say the figure is $100k pa, being great believers in property investing, we than calculate that on a yield of say 4.5% from IP's one needs approx $2.2m...
  4. J

    How to get the maximum for your property valuation

    This is to provide some additional info over what I have posted previously. In the folder I prepare for valuers, as well as comparable sales information, I include a copy of the Title and Planning Certificate. I also contact the local council to cover off any potential planning issues, such as...
  5. J

    How to get the maximum for your property valuation

    Reading LynnH's comments, it would appear that we have a very similar approach which has resulted in my having very similar experiences and results. Generally I find a standard val costs around the $450 mark. For this expenditure it is not unusual to end up with a val giving and extra $30k to...
  6. J

    How to get the maximum for your property valuation

    As previous respondents have stated cross collateralisation is a definite no no. Amongst my acquaintances if we encounter lenders insisting on cross coll we move onto another lender for the next property to be financed. Some of my acquaintances have all their properties financed by different...
  7. J

    My experiences with banks/lenders

    I am developing a website to pass on things I have learned and observed from providing IT solutions to the finance sector and subsequently working as a finance broker. I am now a developer and this provides additional interesting insights into the world of commercial lending. My web site is...
  8. J

    Sunshine Melbourne

    We were attracted to a street where one block had been redeveloped to have three double story townhouses on it. We therefore assumed that we could leverage from this to have a similar development approved. However,in our case the council insisted that the existing residence be kept on account of...
  9. J

    Sunshine Melbourne

    Sunshine Melbourne be warned After much research of median prices in surrounding areas and other factors I was contemplating buying in Sunshine a couple of years ago and at the last minute discovered that an area of the best located properties close to shops, transport, schools etc is covered...
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