Hi, I’m Kelly and I currently have 2 IPs but they are all negatively geared. After I read lots of article here, I found I’m on the wrong track if I wanted to own more IPs.
Does anyone tried to use Wrap in Sydney to invest? What do you think?
Thanks,
KellyIt works anywhere you can match a buyers needs with those of the investor. I would strongly recommend using a professional if you are starting out.
Send a call out to Qlds007.
Robert Bou-Hamdan
Mortgage AdviserWrapping has received a lot of bad press lately, be careful.
There have been a number of people who have wrapped in Sydney and made money. I have wrapped myself, but have found that the returns are not that great for the risk involved and the opportunity cost of tying up equity and borrowing capacity.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
yes, i can see the risk it involved.
so, any accountant and lawyer in sydney familiar with wrap?
many thanks for the advice.
Kelly
try solicitor Tony Cordato http://www.businesslawyer.com.au
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Kelly,
You’d me more likely to get 10-20% LESS than your asking price in sydney in this market, rather than 10-20% ABOVE your asking price in a wrap. Most first home buyers are flat out getting into the market in sydney as it is. Not sure how they’d be able to afford a wrap with a higher premium and a higher interest rate.
kay henry
Maybe if they were paying market rate for the house and market rates for the finance ????
If you purchased the property for under market then you can quite successfully offer it under a wrap at the market price.
And it is not inconceivable to offer below market finance rates ( honeymoon rate period) and still have a successful ( profitable) wrap.
TOny Cordato is excellent to talk to.
Better still try Rick Otton at his website and post youir question there.
You will get a more informed response.kp
Someone mention my name.
Kelly feel free to shoot me an email if you need pointing in the right direction.
Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.Richard Taylor | Australia's leading private lender
I am told Rick Otton’s wrap pack is informative.
I am still waiting to hear back on how it comparies to Steve’s wrap kit which I hear is pretty good.
Also, I would love to hear more about Rick Otton’s teachings!
The Mortgage Adviserhttp://www.themortgageadviser.com.au
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