All Topics / Creative Investing / Wrap Kit or Advice Needed

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  • Profile photo of orien100orien100
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    @orien100
    Join Date: 2006
    Post Count: 27
    July 17, 2006 - 5:53 am

    One of our previous tenants is interested in buying one of our IP’s, but as they don’t have deposit/immediate loan eligibity we are talking about a short-term wrap.
    We’ve got some basics sorted out, but I’m needing a quick wrap education and the appropriate paperwork (contract’s etc).
    I know Steve’s Wrap Kits are no longer available so was wondering if anyone wanted to sell their old one, or has advice to offer as to where else I might find contracts etc.
    Any other advice also very welcome! [biggrin]

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    July 17, 2006 - 11:33 am

    What state are you in?

    I was suggest you just go to a solicitor that specialises in this area for teh paper work etc.

    I suppose in the meantime, you just have to consider the structure and figures. ie are you going to lend them the deposit, so the title changes into their name? Or are you going to let them pay it off in installments? etc

    Terryw
    Discover Home Loans
    Parramatta
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Profile photo of orien100orien100
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    @orien100
    Join Date: 2006
    Post Count: 27
    July 17, 2006 - 11:12 pm

    TerryW – thank you for your response!
    We are in Melbourne, but the property is in the ACT. We’ve pretty much got the figures sorted out, now just in need of the contracts. Do you know of a solicitor experienced in Wraps located in Melbourne (or perhaps ACT that we could work with over the phone)?
    Alternatively, do you know if there are any pre-existing Wrap contracts and if so, where I could find one?

    Profile photo of TerrywTerryw
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    @terryw
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    July 18, 2006 - 4:36 am

    You could try and locate Lewis O’brien in Melbourne. He is the wrap expert down there. Sorry don’t know anyone in Canberra. Tony Cordato in Sydney may also be able to help, http://www.businesslawyer.com.au

    Terryw
    Discover Home Loans
    Parramatta
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    Just send me a blank email, with “subscribe” in subject line.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of orien100orien100
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    @orien100
    Join Date: 2006
    Post Count: 27
    July 18, 2006 - 5:41 am

    Fantastic! Thank you [biggrin]

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