First of all, hello to everybody at property investing.
Have been lurking on here for a little while, trying to absorb everything i can. My partner and I have just gotten very serious about property investing, both saving like mad for the next year to 18 months, and then we'll have a couple of deposits saved and be ready to kick things off.
Reading as many books as i can at the moment, started with 0-130 (great read) and moved onto 7 steps to wealth, with the obligatory Kiyosaki books and The richest man in babylon in between. 0-130 and 7 steps to wealth were interesting in that the two books seemed to have completely opposite strategies, but both seem like quite sound ways of building wealth.
Has anyone got other books they would recommend to a person who is quite green and would like to learn as much as possible before making the plunge. In particular, any books on wraps, as this seems like an interesting strategy and I would like to learn more about it. I'd also like to learn more about buying blocks and subdividing as this seems a good way to generate +ve cashflows. Has anyone written a book on that stuff?
Thanks in advance for your help, i look forward to learning a lot on here.
I do not think you will find too much written about installment contracts.
We built a business on positive cash flow but it is not for everyone.
Richard Taylor | Australia's leading private lender
Hi bruxism
Karen, my wife and I started Wrapping properties in 2004 and we've been very happy with the results.
We don't really know of a book dedicated to Vendor Finance in real estate, of which "Wrapping" is a part. There are two Australian based manuals on wrapping. They are:
1. The Wrap Kit by Steve (presently out of print) and
2. The Wrap Pack by Rick Otton. More info at http://www.rickotton.com.au
These two resources are very much, step by step mauals on how to do it. We did our first couple of wraps using one of these manuals and, later on, we got the other.
We found these manuals to be invaluable. Not cheap but they worked for us.Other interesting web based information can be found at:
https://www.propertyinvesting.com/strategies/wraps
https://www.propertyinvesting.com/strategies/lease-options
http://www.vendorfinancelawyer.com.au/news.phpThe Vendor Finance of Australia (VFA) conducts regular meetings in both Sydney and Melbourne. Meetings have also just started in Brisbane. If you PM me, I can give you the email address of Julie from the VFA. She can then give you details of when various places have their regular meetings.
Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Also read "Australia's Money Secrets of the Wealthy" by John Burley. There's a chapter on wrapping.
(We also have Steve's kit, plus Rick's Lease Option pack… and have been wrapping since 2003, mainly using John Burley info suplemented by Steve's. Only recently moving into L/Os.)
Cheers
Michael Yardley's- How to make a million dollar portfolio
Craig Turnbull-Books
Robert Kiyosaki-Boardgame 101 Cashflow, 202 CashflowHi,
Many people have asked what has happened to the Wrap Kit that I produced some years ago.
At the time, it was the only resource available on how to do vendor finance sales in Aus (and in Vic in particular). Rick later put out a version that adopted and advocated a slightly different approach (and was more based on the NSW legal framework).
My version has been out of print for some time now. This has been because I have been convinced that some investors have used vendor finance incorrectly and misled buyers with dodgy tactics. In short, I did not want to advocate an approach that was seeming to do more harm than good.
I do hope to make some of the information freely available for public use and debate in 2008. My hope is that a better informed public will be able to protect and educate themselves on vendor finance, and that the fear, hype and greed will be fairly addressed.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Steve,
I just found this post.
Where is the free information you were planning to provide on wraps? Have you posted it somewhere?
Thanks,
Matt
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