Forum Replies Created
Hi M,
Not sure if you’ve done any wraps yourself, but now having done over 70 with my partner they certainly have the cashflow to afford 12% (we pay our investors between 8 & 16% depending on how much they put in and to date we have no shortage of investors!) However, I’ve recently been putting my spare cash into other venture, one returning 40% (just received my first six monthly cheque) and the other returning 30%+ depending on the property performance. These are pretty good returns and if you just want to get returns without any effort it may be worth your while looking around.
B
It really seems there aren’t to many good property investment brokers out there! I haven’t had a job for over 5 years, only positive investment properties and wraps, my broker has recently confirmed that I can now buy my properties (up to a very nice limit) without having to make the contracts subject to finance! A nice bargaining tool and I’ve never gone lodoc. I’ve already bought another two properties this month and it just gets easier. You really need to shop around for the right team as a good investment property broker, solicitor and accountant means all you have to do is go out and find the deals…
Blanyi
Try my brokers Too Easy Loans on 03 9769 7229, they do fully disclosed wrap finance (in writing on the application to the bank!) I used to do a bit with Rob at Mortgage House but since the mortgage insurers pulled the pin I believe he had to stop doing wraps. My new guys get me a great variable rate of 6.32% and no bank application or valuation fees, they do have a consulting fee for themselves, but for what I save it’s cheap!
Hope this helps,
BlanyiGet a new broker! My broker has financed over 60 properties for me and where we do improvements prior to settlement we even get 80% of the new value at settlement (this one year thing is a joke, how are you supposed to move forward as na investor)! They are all property investor themselves and do several different strategies! As far as I could find they are also the only ones left that do fully dislosed (in writting) wrap finance. So there are still good ones out there…
Blanyi
Hi Dot,
We have a couple of positive cashflow properties available now in the Geelong area if you are interested. We can offer a no money down deal by carrying back the deposit and borrowing costs. If you’re interested let me know as we have these both advertised for the first time as no money down deals in tomorrows paper (Thursday) and I know they will go very fast. It’s hard enough to find positive cashflow and with no money down it’s even better.
Fab…
