Have you thought about using a lease option instead of a straight forward tenancy agreement??
Would you be able to give me some details of the property and we can see what we can come up with using standard tenancy as a last result. I think if we get a bit creative we can turn this into a + cash flow situation even without wrapping. The downfall is the lower deposit obtained from using a lease option as opposed to a wrap. The benefit is it is a lot easier to find someone to fill the house.Hi David,
I was under the impression that with LO you don’t get FHOG and with us putting in 20%LVR that makes it quite a deterrant. What do you think? I’d like to get your view.
Cheers
Sooshie [
]There are no problems, only solutions!
I don’t think its really prudent to make invest ment decisions based on buyers recieving FHOG. I don’t know your situation in great detail but with LO’s, the option could be to vendor finance. There are a lot of things you can do with LO’s especially if you are finding it hard to find buyers with substantial deposits on wrap transactions.
I don’t think Christmas would be helping you that much either. Just curious soosh but have you actually completed a successful wrap yet.
Thanks….Speak to you soon.
Hi David,
Like to get your point of view. Yes we have completed a wrap. Very happy with new owners. We have a ‘Time’ partner who is very good at what he does. Basically, I’m just puting out feelers to see what are others ideas on the other property.
Info on property: Purchase price 90K
Our deposit 18k (20% LVR)
Term of loan 25 yearsHope this helps some.
Cheers
Sooshie [
]There are no problems, only solutions!
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