Hi I am From South Australia and after reading steves book he mensioned you cant do wraps in sa was wondering if there was a way around this? I have a property that I brought 3month ago for $37k and the tenant would like to buy it and I would like to sell it to him vendor finance if possible due to the fact it has a few minor structurol problems at the moment and a think that the vendor finance option sounds great.
Would apreciat any ideas thanks brettHi Brett,
Vendor finance as an investment strategy can be a really worthwhile tool, to improve cashflow, and refund some of your money in the deal to enable you to have cash to buy again.
However, you mentioned structural problems with the house. I would be careful that you are not setting yourself up for a lawsuit if something goes wrong. You would have a duty of care over the property, although you would still have that duty of care as a landlord anyway. Safety is important!
Goodluck with your decision. Make sure you do your due diligence over the tenant, before taking them on as a longterm wrap client.
Del
Hi Brett, welcome to the forum.
Do a search for “Adelaide” and “South Australia” and you’ll find a whole treasure trove of information.Have a great day!
Marco
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