The global financial crisis which hit pretty much most countries around the world, yeah a lot lending is tightened up around the world is lending a problem these days or again is it is just a different way of looking at it that years ago we had different problems lending to be my biggest problem is wasn’t for lending I would have properties where directories and I think the same thing for all those yeah those always been hurdles to overcome from lending certainly was different a decade ago than what it is today and it’s changing on a weekly monthly basis and from that perspective you know I think that you need to be adaptive to change in the market so yeah it’s what I first started investing probably had grand savings and I’ve saved it from working my backside off there’s a youth and you know investing that into.
Property and in the bank to put alone against the property to start off with so I think a lot of people have gone too hot too highly leveraged and to want to leverage aswell and again I guess it comes back to you’re dreaming and why you’re doing it in the first place because just because one bank says no you didn’t give up in the early days did you know whether you got to see five or ten or a hundred that’s what you got to do there literally thousands of lenders out therein.
The world and for me personally what I first started investing in property bank that I went to initially said that I could buy the first one I actually went to was to get a credit card for a thousand dollars I had like grand in my bank account at the time or grand the bank account and I asked for credit card so I could pay my internet you needed the internet back then and I got rejected on a credit card fora thousand dollars I went to a bank which I had my bank account as a child they gave me alone for a quarter million dollars by purchase process probably of quarter million dollars and then form West Coast Valuers.
Here there’s a fair bit on this side as wells beset subsets tool for another months after that and then finally another number six months and that after that they finally started construction and then this is the final part of the building so the total loss of rent chichis one of the components of your insurance policy was three hundred twenty thousand dollars so we need to make sure that there’s.
Enough put aside for loss or rent so for the carpet companies if they got another place to rent to if it was owned by tremor whoever the tenant was that that’s going to be lost income for that business so if you’ve got any questions about the sinking sinking funds insurance valuations occupational health and safety you can only contact Sydney on myself and we’ll be happy to help you’re we looking at one of the other insurance evaluations in the next series this is part of insurance valuation management.
For Australia and commercial buildings so earlier on we looked at insurance valuation and go over that again now what is an insurance valuation that’s fine we’ve gone through the critical elements of what the body corporate what the owners corporation needs to do we looked at the case study and now what we’ll do now we’ll go intone of the sample reports will go through a report to see what that lookalike OK this is a standard building that’s it one two three four five six seven levels so we’ll have a look and topee what time what’s in here so these are some of the items that are in insurance valuation so three basic sections where is your insurance valuation summary base of your insurance valuation report and also your report notes.
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