All Topics / Help Needed! / Information needed to learn more about “wrapping” services in western Australia

Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of jamjamjamjam
    Member
    @jamjam
    Join Date: 2009
    Post Count: 7
    March 9, 2009 - 7:33 am

    Hello,

    I am seriously considering using the property investment strategy of vendor finance services (wrapping) in the near future and am currently in the process of obtaining as much information as possible in order to get to grips with everything there is to know about the topic.

    I am based in Perth, western Australia and was wondering; aside from Steve's book (0-130 properties in 3.5 years) where else can I find information that will further enhance my knowledge and understanding on "wrapping". The 'wrap' pack offered by this site is no longer available and I cannot afford neither the time nor cost of travelling across to Sydney to attend the upcoming seminar.

    Any ideas would be appreciated?

    Also, are there any investors in Western Australia who currently provide "wrapping" services that could offer any help/advice more specific to W.A?

    Thanks Again

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 9, 2009 - 12:50 pm

    Jamjam

    First place to look would be the Office of Fair Trading as you will find in WA you are required to hold a Credit License to wrap properties.

    Richard Taylor | Australia's leading private lender

    Profile photo of jamjamjamjam
    Member
    @jamjam
    Join Date: 2009
    Post Count: 7
    March 10, 2009 - 12:52 am

    Thanks for that Richard.

    I have found the relevant forms and taken note of what I need to do before starting my new adventure.

    Do you know of any other sources of information about "wrapping" that I can use?

    Cheers

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 10, 2009 - 1:51 am

    Sorry not in WA.

    Have done 101 deals in Qld.

    Richard Taylor | Australia's leading private lender

    Profile photo of jamjamjamjam
    Member
    @jamjam
    Join Date: 2009
    Post Count: 7
    March 10, 2009 - 2:02 am

    I think at this point I'm probably after a more general overview rather than specific to WA

    Do you mind if I ask how you furthered your knowledge on "wrapping"? Was it a case of network sourcing, books/internet, or simply trial and error?

    Cheers

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 10, 2009 - 2:05 am

    Started in 1996 offering 2nd mortgages to some clients who were trying to purchase properties we developed and couldnt sell outright.

    1999 with the change in Tax legislation on wrapping started a Company called First Home Owners Group Pty Ltd which is Qld's largest provider of Vendor Finance.

    Rest

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 10, 2009 - 2:05 am

    Started in 1996 offering 2nd mortgages to some clients who were trying to purchase properties we developed and couldnt sell outright.

    1999 with the change in Tax legislation on wrapping started a Company called First Home Owners Group Pty Ltd which is Qld's largest provider of Vendor Finance.

    Rest is history.

    Richard Taylor | Australia's leading private lender

    Profile photo of glen gglen g
    Member
    @glen-g
    Join Date: 2009
    Post Count: 9
    April 4, 2009 - 12:53 pm

    Hi jamjam,
    check out http://www.vendorfinancelawyer.com.au

Viewing 8 posts - 1 through 8 (of 8 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.