Question re equity to invest



From: Anonymous

I am currently negiotiating purchase of an investment property (block of units) whereby I will be achieving a positive cashflow.
I am wondering whether I should pay and get an independant valuation by a reputable valuer , or have the lender utilise their valuation company, (this might well be the same company.) I am concerned that the valuations are a little untrustworthy and I want to know if anyone has some experience on how they actually operate.

I want to make suer the valuation is what I think it is which will enable a 100% loan for the property at a about 80% LVR. I feel this property I am hopefully going to buy is a bargain at the asking price, but I will still get atleast 15% off that.

The reason is that I have got some quotes to do some cosmetic improvements , (rendering , painting etc) that I believe will dramatically increase the value of the property)
I want to be sure that immediate equity is created in the property for a purchase of another set of 9 units elsewhere.

Does any one have any advice, Cautions, experience, about valuation companies , by the way I'm in sunny Queensland.
I being hurried along by my wife, gotta go watch blue healers
ANON wealth creator
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