Hi guys, I am interested to know if any one have actually done options or wraps. and does it actually work? I heard too much about people selling seminars or DVD’s but i yet to find any one who can say, i made money out of this and it actually works.
If any one is currently doing it, and not interested in selling the seminar or DVD’s to me then please let me know.
HOW does it work.I have done both. They work, but I found it not worthwhile. Too hard in many ways and too time consuming. It may be different if you do it on a large scale though
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
Hi Mudassar
My wife and I started our residential real estate business in 2003 and yes we have completed many wraps and lease options. Happily for us, I was able to give up my job early in 2009 and we are now both enjoying working in our Vendor Finance business full time.
By the way, we learned a lot of what we know about Vendor Finance from the seminar and DVD providers you mentioned
Good luck.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Hi Paul (or anyone here),
With ‘back to back option’, or even a straight call option – in what seems to be a *rising* property market, is it still possible to get such a transaction done with a motivated seller. If so, what would you do differently (??) to get an agreement with the seller?
Thanks
Yes course it can be achieved but if the Vendor is half smart he will be aware of the moving market and expect a higher premium paid up front for the Call Option or a shorter exercise period so if you falter he can capitalise on the appreciating prices.
Richard Taylor | Australia's leading private lender
Hi daba
I think the phrase "motivated seller" is the key to how close you'll come to securing the property for your price. Obviously the greater the motivation the better the deal you'll be able to negotiate. The more you get to kow the vendor's real situation, the better your negotiating position.
As Richard says, if the vendor is half smart and not all that "motivated", then they'll be wanting a higher premium and a shorter term. Your job is to talk with the vendor, with a view to finding out their real position. But do use some finese. The inquisition won't get you the information you need
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Ahhh, you've gotta love this thread…
The original poster wants us to tell him how it works, but is not prepared to spend the money to find out – that's just great!
I can add another voice to the "yes it works" column if you like, but passing on my training I've paid $60 000 for?… I think not!
In any case, you can get more information about how it works from any free seminar where the guys who teach this stuff guest speak than any of us can teach you through this medium in a couple of hundred words.
I suspect the reason you haven't been able to find anyone who can say that they've done it successfully in the real world though, is that you're not moving in the right circles. I don't know any successful wrappers who scoff at the idea of paying for training or good advice!
working on a option at the moment alot of work goes in and it has to be win win for you and the vendor
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