澳洲Australia property Revaluation to extract equity for IPs | S


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Hi I am new to this forum and would like to know if any of you know how to get around the issue of getting the bank to revaluate my IPs which i rent out by rooms as they consider it a boarding house. I am thinking of either abandon this strategy and rent the whole house out (which is less rental income) or else getting one tenant to sign the lease and then she/he can sub-lease it out. Any comment would be appreciated. Thank you  

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hi Anh

Not easy.

How many beds ?

ta
rolf  

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Hi Rolf, one with 4 beds the other with 6 beds  

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Rolf Latham said: ↑
hi Anh

Not easy.

How many beds ?

ta
rolfClick to expand...
What if a relative or friend signed a lease and sublet all the rooms?  

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My friend actually suggested that last night, that might be one of the option, however, given that i currently have tenants in and submitted the rental contracts to the lender already, i might have to wait for a while and do it again with one rental contract.

My broker actually said even now if i have a real estate agent's estimate of the rent, it would not have matter.

Do you know why the bank does not want to revaluate if it is multiple contracts ? do they think it is high risk ?

I even offered to provide the last year tax return to show the steady rental income.

Thanks for your advice. much appreacciated.  

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