Ok, in my research, I have come across two conflicting opinions. Rick Otton from creativerealestate.com.au seems to think that you can make great money off prices like $250k+, but not of course excluding low priced properties where as Steve seems to only recommend the rural low end of the market. Does anyone (Steve?) know what the difference in tactics is here? WHat are you guys doing differently that would cause this difference in strategy?
email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098Having taken a good look at both methods, I’ll give it a whirl! I also think that there’s lots of opportunity for crossovers between them.
Steve aims to wrap a property at a price that’s the same as or lower than rents in the area. This means he needs to buy houses in cheaper areas, basically where the 11 second solution works – hence regional towns. Generally he’s aiming to wrap long term.
Rick wraps at whatever price he needs to, but his aim is to encourage people to refinance as soon as possible, so his goal is to cash out his profit rather than have long term cashflow. This means that the price of the house doesn’t matter, but it helps to buy the property at a discount.
The other main difference is that Steve generally clears the people to go and find their own property within certain price boundaries, whereas Rick usually buys the house first and then finds a buyer.
Hope that helps! And feel free to contradict me Steve!!Keep smiling
Felicity
Edited by – [email protected] on 22/01/2003 1:00:19 PM
ah, cool, thanks for clearing that up!
email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098
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