G’day Jason,

Have you considered the option of vendor finance for the $$$ you are short. Sometimes this is the only option for some sellers to achieve a sale at the price they are asking.

Vendor finance is when the seller agrees to leave some money in the deal, usually at a higher interest rate, for an agreed period.

There are lots of issuses…[Read more]

Hi Guys.

Just a little info to add to the FHOG conversation might help some…

Copied from http://bne003w.server-web.com/~wb013

All accolades to original posters below….

“Topic: FHOG Clarification (1 of 2), Read 62 times
Conf: Property Investor Forum
From: Robert Forward robert_forward@creativefinance.com.au
Date: Thursday, May 30, 2002…[Read more]

Gday Darren,

Do you fully disclose to GE the purpose of the funds. Specifically that you are wrapping the security.

Cheers
watto
Melb Freestyler

Gday David,

If you’re paying 7.25%, how do wrappees feel paying 9.25% minimum.
When bank rates are as low as 4.99% for honeymoon rates????

Cheers
watto
Melb Freestyler

Gday Dianne,

You said:

“Ad:
Display home in sought after area of melbourne. Offering guaranteed 2 yrs lease back at 8% with option of 3rd year. Price: $365K.

Sums:
1. If we take an interest only mortgage of 90% fixed for 2 years($328,500.00). Repayments are $1546.00pm. based on 5.65%. Rental is $2433.00pm, leaving a positive cash flow of…[Read more]

Gday Steve,

There really needs to be a way to mark posts as read. I’m finding that im reading over old posts to get to the new ones. This is not time efficient and very frustrating.

The forum needs to be as user friendly as possible or people will stop logging in…..and this will make a lonely forum…

Cheers
watto
Melb Freestyler

Gday Steve,

The new forum looks good….but….

its a bit hard to read and quickly see what are new posts and what is old…..

time is limited for me and i need a more efficient way of reading new posts….

Cheers
watto
Melb Freestyler

Hi Mike,

The term cashed out refers to the point in time when the wrappee is either able to refinance with a normal lender or pays the final payment in 25 years…

Ususally a wrappee would cash out after maybe 1 – 2 years of regular payments as they then have a credit histroy which they can show to lenders….

Hope that answers your…[Read more]

Gday Steve,

Site looks good, it’s getting tuff
to keep up with all these new forums…

Hopefully lots of good wrap info to come…

Is the property for a wrap or buy and hold?

Cheers
watto
Melb Freestyler