Hi MickyI'd suggest you meet all four of them, be very polite and friendly and show them the four properties you are about to list on a sole but not exclusive basis.Listen politely as they make their pitch.  Once they've completed their pitch, tell them that due to the size of the sale to are asking the four agencies (let him or her know who th…[Read more]

Hi BroonyThe contract you need is an Instalment Sales Contract.  PM me and I can give you the name of a solicitor in Brisbane who is experienced in these contracts.If you use an Instalment Sales Contract you will be regarded as supplying credit so you will have to abide by the Uniform Consumer Credit Code (UCCC).  One very good Australian s…[Read more]

Hi BroomeAhhhh, saved from a hard question    by the fact that Steve dosen't seem to be selling his Wrap Kit anymore.  Please feel free to PM me though.I have heard of Hans Jacobi but haven't heard anything regarding his course.Cheers,  Paul

HiWe operate mainly in NSW and the way we've minimised this challenge is as follows:1.  As soon as our offer is accepted, we go back to the real estate office and sign the contract2.  If the agent has a copy of the contract there in the office, signed by the vendor, we exchange there and then3.  However before doing all the above, we cross out &qu…[Read more]

Hi EmilWe statarted with Rick's Wrap Pack and it certainly got our business going.  Apart from Steve's Wrap Kit that seems to be currently unavailable, you're right, there's not too much avaiable by way of a step by step manual.Some experienced Vendor Financiers (Wrappers) do training type Joint Ventures with people who are just getting into the b…[Read more]

Hi EmilWe get the Wrapees to pay for all outgoings, i.e. water rates, council rates and building insurance but we'd suggest you get the bills sent to you and you pay them and get reimbursed by the Wrapees.  You certainly don't want a nasty surprise like the house burning down, only to discover the Wrapees forgot to pay the insurance.  You also n…[Read more]

Hi gettingstartedWhen we bought the Wrap Pack we thought it was, as you say, pretty exy.  With the benefit of hindsight, after being in the Vendor Finance business for a few years, we now think it was very cheap We have Steve's Wrap Kit as well now.  Good luckCheers,  Paul

Hi EmilWe find demand varies.  We've sold every house we had for sale with Vendor Finance and yes, some of them did have more than one couple wanting the place.We started by buying the properties first and then on selling them.  We now do both.  Steve, in his Wrap Kit, tends to recomend finding the people first and Rick Otton, in his Wrap Pa…[Read more]

Hi DIf you want tokeep it really simple, i.e. "Where would you work from Sydney or Melbourne?", I'd suggest you stick with the market you're most familiar with.  This is because IMHO there are plenty of buy/renov/sell and by/subdivide/build/sell in either Sydney or Melbourne.  There are certainly advantages in starting off in a market you k…[Read more]

Hi JoshuaAs far as the many Vendor Financiers out there and the Vendor Finance (Wraps) Association of Australia is concerned, it's still a very viable real estate technique.  Sorry, I'm not sure what's happening with to the product.Cheers,  Paul

Hi dashitUpon the death of a Wrapper who is an individual, the Instalment Sales Contract passes into the wrapper's estate.  The wrapper's beneficiaries will ultimately own the Wrapper's interest in the Contract.As the new owners, they retain only the rights given to the original owner, i.e. because the interests of the original Wrapper have pass…[Read more]

Hi AngeloIf you never live in the property, can show that all your properties are simply investment properties and that you have not previously owned a PPOR, you should still be able to claim the FHOG when to purchase your first PPOR.  Good luck.Cheers,  Paul

Hi rejoiceAs a very general rule, Vendor Financiers usually use the term Rent To Own if they are panning to sell a property with a Residential Lease and an Option to Purchase (also known as a Lease/Option).If we are planning to sell a property with an Instalment Sales Contract (sometimes called a Wrap), we'll usually use a small add with the…[Read more]

Hi Shane

Have a look at
http://www.maus.com/product/product.asp?loc=7.6.488

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi

I agree, i.e. I would hold onto it.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi eliz

There is quite a long thread dedicated to this subject at:
https://www.propertyinvesting.com/forum/topic/22508.html
Good luck.

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540

Talk to us about Wrap Training Joint Ventures.

Hi alto

Yes a company can be a trustee of two different trusts, i.e. your SMSF and your HDT.

In relation to a company being a trustee of your SMSF the ATO says:

“A self managed superannuation fund can have a company as a trustee (known as a corporate trustee) if:

The fund has four or fewer members.
Each member of the fund is a director of the…[Read more]

Hi bloach

Just in case you fall over “the deal of the century” beofre you get your PR, you could aleays use an option to secure the property. And, if you want to live in the property you could use a residential lease combined with an option (generically called a Lease/Option). Steve has some information about Lease/Options…[Read more]

Hi Compleks

Her’s my wish list:
1. Business advisors – Steve McKnight and Rick Otton
2. Accountant – Dale Gatherum-Goss (Melbourne)
3. Lawyer – Tony Cordato (Sydney)
4. Mortgage Broker and Financial Advisor – Richard Taylor – (Qld).

Cheers, Paul

Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive…[Read more]

Hi Compleks

Steve product Wealth Guardian is very good. It can be found at:
https://www.propertyinvesting.com/resources/11.html

A couple of other books are:
“How to legally reduce your tax” – by Ed Chan and Tony Melvin.
“Trust Magic” – by Dale Gatherun-Goss. One place you can buy it is:
http://www.propertyupdate.com.au/pages/Trust-Magic

I hope…[Read more]