Hi Nathan

The VFA is also alive and well in NSW. They had their last meeting at the end of last month which I’m told was well attened and had two guest speakers.

The NSW branch seem to have regular meetings every 3 months and it’s a great opportunity to get together with like minded people.

Dr X, you sound like the next SA Branch President

Ch…[Read more]

Hi James

Gee, where do I start? We made so many of them

Here are a few that really stand out. Starting out without the correct business structure. Buying at retail. buying in the wrong area. On selling without enough mark up. Not protecting ourselves from the UCCC buy doing the correct checks of our potential wrapees and ensuring these…[Read more]

Hi Steve

To overcome the point you make about CGT and vendor financed real estate transactions, simply make sure you undertake the transaction within the bounds of the “correct” business structure. Check with your accountant to confirm this but if you are in the “business” of vendor financing real estate, there is a good chance that the ATO will…[Read more]

Hi Xenia

Sorry, no website. We’ll have to get around to that

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 Nathan

We plan for our wrapees to be refinancing out of our loan at the end of year two or, at a maximum, year three and we don’t use short term contracts with attached balloon payments to do it.

Your potential clients are mostly people who have been locked out of having a family home. I doubt that they’d respond to well to an offer of a 4…[Read more]

Hi James

We find that most of our clients have a combination of “challenges” that stop them getting a traditional loan, e.g. no to very little deposit as well as needing a low doc or a no doc loan.

Once you get into vendor financed real estate, you’ll be surprised at the number of potential wrapeees that contact you. Some, like traditional…[Read more]

Hi Nathan

You could try:
1. Heritage Park Property Management – Attn. Chad
Phone / Fax 0263 443 650
Mobile 0411 890 268
heritagepark@optusnet.com.au

2. Joseph Scarcella
0408 423 885
http://www.primerealestateagents.com.au

Good luck

Cheers, Paul

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

Hi Nathan

Have a look at;
http://www.mortgageworldaustralia.com.au/calculators/amortisation_calculator2.htm
The result is a loan amortisation schedule.

Do you mind me asking why you are considering a balloon payment with your wrap transaction?

Cheers, Paul

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

Hi Xenia

Karen and I have now done 6 what we call “Training Joint Ventures”.

As with your experience, our JV partners have either bought the Wrap Pack or Wrap Kit and are hesitant at taking that first step or they have learned about wrapping from forums or books and want to get underway.

I can only say we wish we had found a JV partner when we…[Read more]

Hi pwarde

Two possible ideas:
1. Find properties where the vendor is prepared to leave 20% to 30% behind in the form of a second mortgage. In this flat to declining market, it’s not that hard.
2. When Karen & I came to this point awhile back, we asked Rick Otton the same question. One of his answers was, “flap your gums” We did and now we…[Read more]

Hi Cazza

Karen and I recently completed a negative2positive Joint Venture wrap on the central coast. The property had been on the market for months without any offers. Now it’s been sold for well above what our JV partners were asking and it’s making positive cash flow for them each month.

We are also in the process of doing the same thing for…[Read more]

Hi Ben

We always look positively upon the fact that other vendor financiers are operating in our area. This is because these other Wrappers are out there “spreading the word” and helping to make vendor financing just another way of buying your home.

Karen and I had our first wrapees move in in March 2004. We have now completed 13 vendor finance…[Read more]

Hi

As always, there are two sides to every story. Here’s a contrary view of the Jenman system.
http://www.jenman.org/

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 Mitzvah

The FHOG is not available when a L/O is used. In those States where Wraps are legal (all States except SA), the FHOG grant is available when a Wrap is used (with State based variations on when it’s payable).

With a L/O you may get an uncommited “try before you buy” tenant buyer. This may mean you end up with someone in your property…[Read more]

Hi Orien

What State are you in?

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 Andy

Just a quick reply. You can’t negatively gear while you’re away, if you don’t earn any income in Australia. However you can accrue these loses while you’re away and use them against Australian earned income when you get back.

Of course, you should check this with a good accountant but that’s how it worked for us while we were…[Read more]

Hi Jason

I can’t really help in the re your tax question but if you are thinking of buy Australian residential property with an overseas corporation, it may pay to look at:
http://www.firb.gov.au/content/real_estate/residential.asp

Good luck.

Cheers, Paul

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

Hi Dave

We are vendor financiers and in a lot of cases we’d suggest you on sell it using vendor finance. After looking at your situation I’d agree with most of the above postings, i.e. rent it and definitely get a depreciation schedule.

Good luck with the move.

Cheers, Paul

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

Hi salocker

While doing your due diligence, it may be worthwhile considering that 99.9% of unlisted property trusts in Australia are unit trusts. It will be interesting to see the government have a go at trying to close down that industry.

Also, if what you are doing now is legal, it’s unusual for governments to make their legislation…[Read more]

Hi All

If a loan to the trust is seen as a personal asset, why not just gift the money to the trust?

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.