Just curious as to how you got on with the wrap property you were having trouble selling. If possible can you tell me how you overcame the problem.
Hi Insider,
Still got the house. Very slow going at present. Not sure whether to rent it out for 6 months and then try re-wrap or to just bide time. It’s difficult call, as we have to pay mortage each month till wrapped. Now, today is Saturday the 14th and everything that could go wrong on Friday the 13th did. So I’m feeling a cautiously more positive today and I’m just going to wait for the man of the house to decide what to do [
]Cheers
Sooshie [
]There are no problems, only solutions!
Besides the wrap you are having a problem with how many successful wraps have you done Soosh?? If you do decide to rent out the property will it be negative cash flow or +?? Do you look at cash flow when you are looking at wrap properties just in case you can’t find any buyers??
I suppose Christmas isn’t the best time to find potential buyers. If you do decide to tenant the property on a general tenancy agreement which usually operates for 6 months, (feel free to correct me if I’m wrong) will you then try to find wrapees based on a long term settlement??
Thanks in advance David.
Hi David,
Hubby and I have just started purchasing wraps. I will aim for positive cash flow. The advantage of putting in 80% LVR means that this is more likely to occur.
The tenancy I think usually is for 1 year..but 6 months can be negotiated and this is better for us as we can get back to the original plan which is to wrap the house, for aslong as it takes for the wrappee to pay off the loan or cash us out.
The other option is to do a reno job on it. It has the potential.
Cashflow is very important to us at present with our two young children and many incoming bills to pay.Have to go have a bathe the kids..
CheersSooshie [
]There are no problems, only solutions!
]
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