Hi SS'ers
No doubt one of the biggest challenges of late and an ongoing threat facing property investors of all shapes and sizes is difficulty obtaining finance.
Sure competition is ramping up between the banks, and some claim this is assisting to relax lending criteria, however it seems there is one major speedhump slowing investors down - Valuations.
I keep hearing horror stories about low vals coming back with valuers scared off by bank wrist slapping and in some cases worse - ie removing them from their valuation panel. There seems to be an unwritten rule at the moment that sees valuations coming in at at least 5-15% lower than market prices.
I have 2 questions:
1. What tactics (if any) are you employing currently to get the best valuation possible for your existing properties?
2. What do you find are the best loan structures for leveraging maximum borrowing capacity? eg: Are there any lenders out there that will X-coll a portfolio, without having to revalue the entire portfolio each time you want to purchase a new property?
Please note this is purely about how to increase your borrowing capacity with the assumption that servicability is no issue, and all the basics like reducing credit card limits etc has been done.
cheers
No doubt one of the biggest challenges of late and an ongoing threat facing property investors of all shapes and sizes is difficulty obtaining finance.
Sure competition is ramping up between the banks, and some claim this is assisting to relax lending criteria, however it seems there is one major speedhump slowing investors down - Valuations.
I keep hearing horror stories about low vals coming back with valuers scared off by bank wrist slapping and in some cases worse - ie removing them from their valuation panel. There seems to be an unwritten rule at the moment that sees valuations coming in at at least 5-15% lower than market prices.
I have 2 questions:
1. What tactics (if any) are you employing currently to get the best valuation possible for your existing properties?
2. What do you find are the best loan structures for leveraging maximum borrowing capacity? eg: Are there any lenders out there that will X-coll a portfolio, without having to revalue the entire portfolio each time you want to purchase a new property?
Please note this is purely about how to increase your borrowing capacity with the assumption that servicability is no issue, and all the basics like reducing credit card limits etc has been done.
cheers
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