wrapping

Viewing 4 posts - 1 through 4 (of 4 total)

stelep7
Member
@stelep7
Join Date: 2004
Post Count: 9
May 31, 2004 - 8:26 am
my girlfreind and i lve in qld. is wrapping legal here[as a newbie please excuse me if i ask lame questions at first]..have been ivesting in residential property for the last 13 yrs…all have been -ve geared…so comming across this site with all its informative posts has me rather excited.i have heard alot about the terms used on this site but never really looked into them..cheers
benson
Participant
@benson
Join Date: 2003
Post Count: 101
May 31, 2004 - 8:34 am
Wrapping is legal in Qld, and there are many on this forum who do wraps in Qld. The search function in the left hand menu will get you access to a lot of the discussions on this topic.
Cheers,
Benson.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
May 31, 2004 - 9:25 am
Wrapping is legal and very much alive in Qld.
After 148 wraps I can assure that it is still a growth business. Demand for properties in Qld is as strong as ever and we still receive on average a dozen deals a week to look at.
Feel free to email or PM me any questions you may have.
Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au
There is no such thing as a problem.
Just a solution waiting to be found
Richard Taylor | Australia's leading private lender
stelep7
Member
@stelep7
Join Date: 2004
Post Count: 9
May 31, 2004 - 10:01 am
hi fhog,
thanks for the reply..i will pm/email u soon.i have so many question..my mind is literally numb atm trying to think of which order to put my questions in..i suppose the reason i found this site is cos i’m in need of cashflow and +ve cashflow at that..bugger…where to start?..i own my own cashflow business[takeaway food]..my girlfriend and i own a house which we live in, bought in a trust[the idea being to claim as much as we could]we bought it at the end of 2001 having watched recent sales in the neighbourhood and talking to agents i would place a currant value of 330k on it[4br,1150m2,mountain views..loganholme].we owe 125k on it p&i and intend to take the debt to 180k soon to cover bad debt.from my calculations i have worked out that we should ahve approx. 83k in available equity.we are very interested in wrapping or any other form of investing that can help us attain financial freedom.atm what we do not have any extra cash to fund any new venture.
thats the very basics of it…and let me tell u it gets alot more commplicated..lol
once my girlfriend and i can get our heads around wrapping with actual purchases…i’d like to ask questions about what my brother and i can do with about 600k in equity we have in ip and ppor’s..but thats a whole new ball game[as he is very skeptical]