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  • Profile photo of jezzahjezzah
    Member
    @jezzah
    Join Date: 2003
    Post Count: 3
    March 9, 2003 - 9:54 am

    The more I look at this forum the more questionsI have- I don’t where it’s gonna stop!

    Correct me if I’m wrong.
    So really all you need is a cash deposit to cover the 10% and closing costs to secure a property. Once the property is secured you can then negotiate a wrap. The differnce in loan repayments between the wrapper and the wrapee? making up the positive cash flow.
    So potentially I can make more than a few wraps from the existing $130 000 equity in my principle place of residence?

    Regards

    Profile photo of jezzahjezzah
    Member
    @jezzah
    Join Date: 2003
    Post Count: 3
    March 9, 2003 - 8:05 am

    Sounds like a good idea. The beauty of it is that I won’t be touching my equity from my home and still be gaining a positive cash flow. Thanks for your advice.

    Profile photo of jezzahjezzah
    Member
    @jezzah
    Join Date: 2003
    Post Count: 3
    March 9, 2003 - 5:52 am

    HI AD

    Thanks for your reply.
    I owe about $140 000 for the property. As I said it’s neg. geared and rented for $190 P.W. I contribute $994 per month in P.I loan repayments. I recently got it valued and was told I could get up to $155 000.

    Regards

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