Try using the terms “Vendor Finance” or “Vendor Terms Contract” rather than “wrap” as I have found not everyone you talk to knows it by this term.

Cheers
B

Hi Adrian,

To my knowledge it is illegal to wrap in S.A. but I’m not sure if this means it’s illegal to wrap a property in S.A. or illegal to do if you live in S.A.?? I’d seek legal advice before proceeding any further. Perhaps you are better off looking at Lease Options (not sure if these are legal in S.A. or not??) or if it’s okay for you to…[Read more]

In my experience, it is up to you as the purchaser of the property to make sure it is structurally sound. A formal inspection is not compulsory, however unless you are a builder or such, it is well advised. It’s up to you whether you have one done on a new property… some new properties can be very shoddy workmanship erected very quickly as a…[Read more]

Hey Steve, I know you weren’t telling me what to do… nobody has done that for a very long time!!![] I was merely comparing the advice I had received from someone else to the suggestions you had made and wondering which would have the better outcome.

And yes, you’re right I don’t have a structured plan yet. I make no secret of that. It’s…[Read more]

Hi IB

I’m a newbie to all this as well but I think you’re on the right track wrt acquiring lower priced properties as +ive cash flow investments. It’s virtually impossible to recover more rent than the cost of the mortgage repayments & expenses once you get over a certain amount.

My trouble has been finding the little blighters… everything…[Read more]

Don’t wait!!! If there’s one thing I can say about my dabble in property it’s the longer you wait to get in the harder it is… that’s what everyone I talk to says when they congratulate me on getting in so early (even if I did cock it up slightly by not doing enough homework first!) If it were me, I’d buy the investment property(s) in the less…[Read more]

A big thanks to everyone who has replied to this post… your stories are all inspiring and I’m still marvelling at it all.

You’re right Steve… there’s loads of apprehension & ‘what if’s’ going on in my head! What if I can’t tenant a place?
What if I lose my job & can’t make the payments? What if the interest rates go thru the roof again like…[Read more]

Thanks for your advice Steve…I will take it all on board & churn it over in my mind.

I keep thinking to myself ‘if only’ I had stumbled upon this site earlier!!! All I knew about property investing was capital growth & negative gearing (and even then I didn’t know much about it!)… sure this unit is in a good area for capital growth ($20K in…[Read more]

Hi Nathan…

I don’t know much but I can tell you what I have gleaned from this site & other info…

Wraps are only illegal in South Australia, however in any state you have to be very careful with the wording & conditions etc to make sure you are doing it legally.

As far as leases go I can’t help there… I’m not up to that part of ‘property…[Read more]

Hi Nathan,

Thanks for your words of encouragement… I had actually been reading over your previous posts (& replies) with much interest. You’re asking all the questions I probably should have asked…

I have also formed a similar opinion about negative gearing, however I think that my choice of investment doesn’t really lend itself to that……[Read more]