Got a question for the trio? https://forms.com//form/GotaquestionforthePropertyTrio/formperma/zYCQAxzE_24CVlDafP1ozyzwtmB-8m1iCNtCTgDvHXM

A great listener question prompts today's show. Sam writes;

"We brought our 4 bed 2 bath mid century family in Greensborough area in mid 2021 for 1 mil approx. Since then the price has fallen then risen, and generic real estate apps pricing it at around the same value. The house is older style, has good bones but over time we would love to undertake a moderate renovation. The property is in a good family friendly/school zone, and with the right modifications there is immediate reasons to move from this property. We are getting close to 80%LVR, which I understand is a threshold for accessing finance. The original plan was to build our plan out with two more 600k investment properties."

From accessing equity to balancing investing versus renovating, Sam has a handful of great questions for The Trio.

Dave unpacks the question about unleashing equity.

"Cash-Out" loans are something they could consider, and as Dave explains, equity access isn't limited to those borrowers who need to stretch to 90% loan to value levels.

The question of mortgage insurance is an interesting one, and both Cate and Dave share some interesting insights, along with some exciting new loan products to suit today's market.

The mechanics of accessing equity can vary. Dave explains how investors can sensibly approach this task, from examples, process steps, and timeframe expectations. The important point Dave makes relates to renovations, though. And how many listeners have heard of "as-if complete" valuations? Dave and Mike share some special tips.

Investment versus lifestyle conundrum is something that strikes often, and Dave works through some of the questions that investors need to think through. Cate debates where she would invest the money.

Cash-outs versus progressive drawdowns... Dave walks our listeners through some of the options. And is there a magic number for LVR's and equity access? Tune in to find out.

Lastly, our gold nuggets……

Mike Mortlock's gold nugget: Identifying the strategy is essential. "Ruthlessly efficient decisions!" And Mike shares "SIC Building syndrome".... something to google!

Dave Johnston's gold nugget: Some situations warrant a good property plan, and Sam's questions could constitute this. Informed and educated decisions are the best decisions.

Cate Bakos's gold nugget: CMA's are just automated valuation tools that can sometimes get things horribly wrong. Algorithms can't always recognise important factors. Getting a proper appraisal with some science backing the data up is a great approach when working out what a property is genuinely worth.

Show notes: https://www.propertytrio.com.au/2023/11/06/listener-question-renovate-or-invest/