Hi Jeano

It's been a while, are you still wanting one? I'm going to offload mine.

Let me know if you are interested.

Cheers

Claire

Thanks Jamie!

I'd suggest educating yourself first, then you will have the confidence to make an informed decision by yourself. If you are interested in doing some courses, check out what people have to say on these forums. Steve has just launched his new Apprenticeship which is a cert IV course and will give you a good grounding. I've done a few courses and can say don't be in a rush to part with your cash, you may regret it very soon after!
Educate yourself, as you'll have that for life, but choose courses that are appropriate to you and what you want to achieve. Above all, beware taking advice from anyone without qualifications or experience, or who stands to profit from the idea they are suggesting to you! Family are lovely, but you've mentioned they don't have much experience in investing so I'd suggest surrounding yourself with people who are savvy and will help you. Forums are nice, but I'd suggest finding someone to help you in the long run. From the courses I've done, I'd suggest RESULTS for the one on one support and mentoring, otherwise if you just want education without personal guidance, look into the property apprenticeship from this site – I'm not sure if it's closed now so call the office perhaps?

Best wishes for you and your decisions ahead.

One way we are planning for it, to make life easier, is to have portability on our loans.
This works so that if you sell a place, you can 'port' the loan to another place without having to go through all the form-filling rubbish all over again. Again, ask your broker, but this is what we've done.

Hi guys, starting out in IP and I'm wondering about the setup details of vendor financing.

My partner and I are looking to start investing, however not having done one before and only holding a PPOR at the moment there's a few unanswered questions before we can confidently start.

Firstly we're not sure whether to use a trust for wraps, or just for our buy and holds.
Secondly, we're unsure as to the loan type that best suits wraps. We had looked toward using a portfolio LOC with sub accounts for our IP buy and holds, but aren't sure whether this will suit wraps also?

The response from the banks have been a little worried at the mention of vendor financing, and I'd rather know from someone actually doing them rather than an employee who looks worried at the mention of them!

Your thoughts are most appreciated! 

I say good on you for thinking outside the norm!
If there's a few issues, how could they be worked out – you give them the car to own rather than retain ownership? after all they are paying extra as in your example. in a 12 month lease you'd have it taken care of and then a bit of profit.
otherwise a pushbike, include a helmet if you want!
there are other ways of getting around other than a car, and uni students want something pretty cheap to run and operate.
inner city location you could include a scooter. my advice would be to ask them what they want as everyone is different and it'll be a win-win situation.

keep up the good ideas!