Oh sorry. GOM = God of money. I thought for a moment this was some special insurance group I had never heard of Cheers

GOM??

Am making a clean start with this IP. New property managers, new insurers and hopefully some better tenants. My new property manager said they recommend Terrri Scheer for Landlord insurance but not building insurance as they are not price competitive. Also I need to change the structure that owns the policy.Cheers

HI all

Has anyone done a lease option outside of the state they reside in? I’d like to try this with an investment property, but I wont be able to meet with the individual prospective “tenants”, as I live in another state. It would all need to be done by correspondance.

Can this strategy be achieved long distance or does the isolation create…[Read more]

Hmm, quite so.

However I have to say that in my situation, when we applied for our owner occupied home loan, the broker blindly accepted “X years” as the time I have been self employed.

They never asked for proof, never looked at our business name rego certificate, never did any significant due diligence, just ticked the box. We had good equity,…[Read more]

Hi Terry

Thanks for your reply.

Exactly my point though. If a wrappee can put together a large deposit, and a lo doc loan doesnt require substantiation of income, why would they need the wrapper?

I’m just trying to work out what mindset and financial position a wrappee would be in to be interested in such a deal.

Cheers
Billyray

That just…[Read more]

Alexp, you seem to have got the answer you were looking for, but I also have queries about the viability of wraps and lease options.

If an investor wants to do multiple wraps, where do they get the equity each time for each new venture? As a self employed person I would need to use lo doc loans for every aquisition myself – if lenders want 20%…[Read more]