Hi Kirsten,

A couple of options to calculate the repayments are:
(1) mortgage calculator – I got mine with the Wrap Pack, but you could probably get one from Dick Smith or Tandy…
(2) Use Excel, open the Loan Amortization spreadsheet template. You can enter all the details in there, and it will do a payment schedule for you.

I have got…[Read more]

Hi Kirsten,

A couple of options to calculate the repayments are:
(1) mortgage calculator – I got mine with the Wrap Pack, but you could probably get one from Dick Smith or Tandy…
(2) Use Excel, open the Loan Amortization spreadsheet template. You can enter all the details in there, and it will do a payment schedule for you.

I have got…[Read more]

Hi Yack

Only a small group of around 7 people turned up for our lunch at the Southern Cross… but it was still good, because I got to meet some new wrapping people. [specool]

Felicity, of course, is always a wealth of information. I can’t help feeling she got a bit bombarded, but hopefully got something out of it for herself too…(?)

Ah……[Read more]

No, this is not a wrap!! It’s just a plain ordinary rip-off.

Actually, it sounds similar to what you here about those companies that fly people up to Queensland and put the pressure on them to buy straight away without having looked at any other properties.

You know, just like this lady, you don’t get the opportunity to look in any other estate…[Read more]

Hi kp,

The kit explains the concepts and methods of wrapping – eg, how to find the right wrappees, how to advertise, how to buy at a good price, etc. The kit is not just a sample contract.

Also, I think both of the kits have an audio component – in the Wrap Pack it’s 7 or 8 CD’s which you can listen to in the car.

After you have followed…[Read more]

Hi Grreg, FW & SkippyGirl (my newly acquired wrap friends!) plus everyone else who posted;

Well, I’m gonna have to check my availability on that day, ’cause my hubby is making a movie and I’ve volunteered to do all the catering for the cast & crew. I never get a weekend to myself anymore!

South Melb is not particularly handy for me, but the…[Read more]

Hi Delboy,

A sample contract for your state is included with Rick’s Wrap Pack. However, I don’t know if this saved me much when it came to getting the actual contract prepared by a solicitor.

Besides, you do need to make your contract specific for your particular wrappee, anyway. You may want to add or delete certain clauses.

Cheers

Lozza

Hiya Superdomo

In February we had a “Wrap lunch” with about 12 people, which we held at the Old England Hotel in Ivanhoe.

I’m planning on hopefully organising another one fairly soon. It’s not an official “wrap club”, but most of the attendees were very knowledgable about wraps.

I can send you a message when we have the next one..?

Cheers

Lozza

Delboy —

Didn’t know there WAS a $500 Wrap kit!! Who has that?

I have Rick Otton’s Wrap Pack (cost me about $2500). I think it’s worth the investment.

Lozza [biggrin]

It would definitely be wrong to burn the CD’s… I definitely wouldn’t do it, anyway.

Lozza

Me again —

How can you check someone’s past rental history if the estate agent involved is totally rude and unhelpful? They keep referring to the privacy act. I have asked the wrappees to get something from the estate agent, which they haven’t done as yet.

Thanks!

Lozza

Hi Richard,

I think Mel was referring to wrappees defaulting on their loans…(?) [confused2]

Lozza

I would have thought you just base it on the balance owing x new rate x no. of years remaining. Is that not correct?

* Also – quick question — if you have fixed the rate for your wrappees (based on the fixed rate you can currently get, plus say 2%) are you then required to fix your rate too, or can you leave yours variable?

Thanks

Lozza [biggrin]

I got the same postcard in the mail, and was seriously considering going tonight…..

I haven’t read any of his books.. can anyone tell me more about what Robert G.Allen is about?

Thanks!

Lozza

Terry,

True, true. You’re the expert!! (I’m just new to all this, but climbing a steep learning curve!!)

Lozza [biggrin]

Ahem….. OK then!![blush2]

Thanks guys… I just thought for some reason that there was some “issue” about divorcees and loans… maybe that was in the good old days!!

Scott — I wish. But we do have one guy coming out on Sunday morning, he is a self-employed gardener and a divorcee, with a pretty good income and a big deposit. Here’s hoping. But he hasn’t actually…[Read more]

Sorry — one other thought:–

I heard that as many as 50% of L/O’s don’t actually end up in the property being sold… They just change their minds, and move onto somewhere else.

You would then be stuck with an empty house again, which would mean more running around trying to lock-in someone else for a L/O.

Another advantage to an Instalment…[Read more]

Hi Arthur

Here are my thoughts… although I don’t know a great deal about L/O’s…

If everybody is always refinancing you out on an instalment contract wrap, this would give you more cash earlier to buy more properties, therefore increasing your wealth more quickly?

If it’s really a pain for you when they refinance, set up some people to be…[Read more]

Rick’s Wrap Pack includes a wrap instalment contract specific for the state you live in. (I don’t know what he gives for people who do Lease Options in S.A.)

Don’t know what Steve’s includes that is specific to your state, but you could check on this website and it may tell you more info.