All Topics / Creative Investing / What price ranges are you wrapping

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  • Profile photo of delboydelboy
    Member
    @delboy
    Join Date: 2003
    Post Count: 80
    June 1, 2004 - 7:51 am

    Hi All

    Just wondering what kind of price ranges everyone is wrapping properties at.

    I have heard people say, a friend of a friend is wrapping $1m props in Sydney????????

    I have been looking into areas with sale prices between $100,000 and $200,000.

    With repayments or between $200 – $400 week.

    Is there an upper limit that anyone suggests or sticks to themselves. If so, why?

    Love to hear your thoughts.

    Delboy[cap]

    Profile photo of Supa FreakSupa Freak
    Member
    @supa-freak
    Join Date: 2004
    Post Count: 101
    June 2, 2004 - 8:00 am

    Hi mate, nearly completed my first wrap. It is exhillerating and terrifying.
    I suppose i looked at what people could comfortably afford. So we only looked at houses up to $110,000 (we were targeting the working class seeing there are more of them than millionaires). Our house cost us 100,000 and with the FHOG client repayments were around $210.00 , our cash flow is about $80.00 pw.
    Next time I might try getting a client first, and get them to pick their own house etc… I just know a few people who have bought a house and can’t find a wrap client, so they have to cough up the repayments until they get one. Stuff that for a joke.
    That has been my individual, personal, small fish experience, Please no body can me for it![confused2]

    Profile photo of SuperTedSuperTed
    Member
    @superted
    Join Date: 2003
    Post Count: 205
    June 2, 2004 - 8:54 am
    Originally posted by Supa Freak:

    That has been my individual, personal, small fish experience, Please no body can me for it![confused2]

    LoL why would you even think anyone or moderator would do that since you expressed your opinion[biggrin]

    I liked your wrapping example

    Profile photo of FFCommFFComm
    Member
    @ffcomm
    Join Date: 2004
    Post Count: 627
    June 2, 2004 - 2:09 pm

    Congrats Supa Freak (ad no one will ‘can’ you for succes!). I know a few people who are wrapping homes for between $300K-$400K and it’s no surprise to me that some people are wrapping for upwards of $700K (though I would hate to have a $1Mil place sitting vacant!).

    I still like blue collar homes, where the $7K still means something!

    Anyone finding wraps slowing with RE slowing???

    Rgds.
    Lucifer_au

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    June 4, 2004 - 8:11 am

    Lucifer

    Some day I wish things where slowing.

    We still receive as many application each week as we did 2 years ago. Not to say we do them all but certainly no sign of a levelling in the market interest from our introducers.

    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

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