I have been researching Vendor Finance and after looking at all the recommend Educators I am not entirely sure i want to spend the money they are asking for to teach me.
I have company that will sign me up as a credit rep but i still need guidance. Anyone willing to take a learner on for a few months so i can learn the ropes and get on with my creative investing without forking out 3-5K.
Or if you know of a website or book that i can read to give me more insite on the actual paperwork and financials?
Which State are you looking to under these activities in ?
Yours in Finance
NSW mainly and i have one property in QLD that i want to vendor Finance.
Ok these properties are already owned?
Assuming the properties are mortgaged have both of your lenders given consent to the transaction ?
All of our wrapped properties are in Qld so i can speak with experience there but not for NSW.
Yours in Finance
You may get a few ideas about doing a vendor finance transaction by yourself or in a JV with an experienced vendor financier at http://www.negative2positive.com.au
Cheers, PaulshereebeckerMember@shereebeckerJoin Date: 2004Post Count: 31
Rick Otton has his new book out How to buy a house for $1
I heard a saying once 'information costs but it pays for itself'. It might be a lot of money to spend on a course but it can make you more invested in the learning and make you more keen to implement what the course taught you, plus you skip a lot of the learning curves you'd otherwise find out the hard way trying to get around it.
I noticed in one of your other posts that you've already been to a seminar on how to buy a house for a dollar, so here's some more information on the other VF educational resources out there. They aren't free but, so far, I haven't been able to find a free VF course
The Vendor Finance Association is a great place to meet vendor financiers. Dates and details of meetings are available at: http://vendorfinance.asn.au/meetings-and-memberships/
I believe it's important to build a good foundation to your vendor finance knowledge and there are numerous educators to choose from. Some that spring to mind are:
Sean Summerville – http://www.thepropertyking.com.au/
Rick Otton – http://www.rickotton.com/
Dave & Julie Siacci – https://vendorfinanceinstitute.com.au/home/siacci-system-of-vendor-finance-1997/
Paul Zalitis – http://www.aussiewrapper.com.au/Cash-Flow-Investing.html
Gordon Ku – http://gordonku.com/
It is worthwhile researching all these educators and choosing one that suits your style.
Some other research locations are:
Feel free to give me a call if you'd like to talk about some on the job training ideas.
i was also looking at the Siacci System. I am little confused which one is better value for money out of the following two:
Rick Otten Boot Camp
The Siacci System.
Anyone got any idea which one is better value for money
BelindajustahousewifeParticipant@justahousewifeJoin Date: 2012Post Count: 6
If you dont want to pay for your education then the next best option is to do a Joint Venture with someone who knows how and split the profits.On a 'standard' Vendor finance deal you provide the property, they provide the skill you would possibly make about $30- $40K each.You would learn something along the way then you could move on and do the next property on your own. This is more a learn as you go process.
I'm not that brave Depending on your current situation, it may be possible to get a good VF educational foundation with a Cert IV in Finance/Mortgage Broking and some on the job training. Although ultimately you're probably going to need someone's VF manual.
Another great way to make money out of your VF education is to do what we call a 'full joint venture' (just our name for it). This is where you buy the property and enter into a JV with an experienced VF'er to on-sell the property with VF.
Thanks Paul, I have been meaning to call you but been getting side tracked with work etc.cato79Participant@cato79Join Date: 2012Post Count: 4
I would appreciate some help with a first vendor finance deal (wrap). Currently have the finances sorted and a client wanting to buy a house with our help. Very flexible with suburb. What exactly do I focus on when looking for wrap- properties (Perth). Eg, Do I look for growth or rental return… or added value potential? Looking at a max 5 year contract. Could really need some help with the property selection and buying process.
Many Thanks in advance!
I assume you hold an Australian Credit License ?
Yours in Finance
Richard's question above is very relevant. More information on the subject are available on our website at: https://vendorfinanceinstitute.com.au/home/?page_id=10 and at this recent post regarding vendor finance and licensing:
Also, could you let us know if you have done a vendor finance education course yet? Thanks.