Pisces,

I think I must have lost my magic pill…. [lmao]

Cheers

Scott

Martin,

Sorry to say this, but I think you better read the book again….

Nowhere is there any reference to this being EASY…..

People believe what they want to hear….. why do you think it’s so easy for so many gurus to sucker the greedy/hopeful/ignorant into paying thousands of $$$ for a get rich quick scheme….

It’s because as a whole…[Read more]

Kay,

No probs !! Just trying to put things into perspective for folks here…. [cap]

It would be a pretty boring world if we all agreed on everything, so it’s good we have debates. Just as you and I no doubt will disagree on certain issues !!!

BUT, the thing I’m really dissapointed to see many times on PI, are the people who :

1) Want to…[Read more]

I’ve read through some of the postings here (not all) but would like to add my half a cent……

The issue here is :

1) perception – and how the media changes it to gain ratings….

2) for people watching – maybe the message should not be $1 Million… It should be about getting on the path to freedom…..

Pelican controls over $2mill of…[Read more]

Guys, I think you are getting off track here….[offtopic]………….

The main point on this thread is about the so called end of the NSW property investing market……

Whilst I respect Steve’s thoughts on this, I disagree with him…..

If you look at the teachings of so many of the “gurus” out there…… We should all be sitting back, and…[Read more]

George do you know of any other such sites ?

I checked at my office and they’ve blocked the site you mentioned……

at least I can keep going direct, but am getting ready for the inevitable….

Thanks

Scott

Geo,

A great joke…. I forwarded it to my colleague next to me, who happens to be India….

A great laugh…..

KEEP EM COMING [biggrin]

Cheers
Scott

Jobee,

Normally what happens is the wrapper takes out insurance, and then charges the wrappee for it…..

Scott

Pelican Investments
http://www.pelican-invest.com

Gordon,

No probs !!!

I think you can see where we are aiming for anyway…..

the ol “win-win” as oft quoted around here…..

Cheers

Scott

I must say, I’m surprised at Steve and everyone else yelling Doom and Gloom from the rooftops…

People will always need a place to live, so, there will always be demand……

It seems there’s a herd mentality here,[baaa] and, I think to myself… Hmmmmmm opportunities !!!!! [cap]

I may be wrong, but I tend to look at this as a hiccup..( a…[Read more]

Gordon,

You’ve misquoted, and, misunderstood my posting me thinks !! [blink]

Originally posted by Pelicaninvestments:

There are two areas which do need addressing with wraps, and, the VFA is actually working on these with the Gov’t as we speak.

1. Title of property – For now, all that can be done is a Caveat, which we recommend our customers…[Read more]

Donny,

A very interesting theory…. Banks in Asia will do it, but as soon as there is a currency movement, you have the potential for a margin call…. i.e. making sure % wise you have enough equity in the deal…..

Risky stuff, but you can do it with Forward cover contracts…. the issue is the cost of the contracts aren’t cheap…..

Have…[Read more]

Tony,

There are 2 wrap strategies….

1. Long term, where you are only aiming for the long term %/$ spread between the 2 loans. seeing out the term for 25-30 years…. or

2. Short term ( 2-3 Years ) This is where the wrapper is used as a stepping stone into a real bank loan…… this is fairly common, Essentially any markup in price you…[Read more]

After looking at all the posts on this topic, it seems that we have the common emotional issue of people’s GREED getting involved…..

Something that comes up in many books. People take advantage of others, greedily wanting to instantly become rich……

I’m not saying homework is always easy to be done, but it CAN be done… Talking to local…[Read more]

Steve,

Lucifer has made all the relevant points in his posting.

We have a similar situation with quite a few of our customers. They have purchased a property from us, fully disclosed, with the intention of re-financing within 2-3 years…

In a few cases, they have been in the property 6 months and the house is already valued at more than…[Read more]

Milkman,

you got it in one…. There are lots of “us” out there doing the right thing, adhering to the consumer credit code, trying to do wraps in a professional and ethical manner.

There are knockers out there, who have no idea about how things are done, suddenly giving their expert opinions on how bad wraps are….

Thanks for the feedback on…[Read more]

Great post.

Another idea I’d thought about as well, is some sort of clearing house. i.e. an independant body that receives payments from the wrappee, and, then, makes payment to the bank for the loan portion, followed by the difference to the wrapper….

It could work, but would need legislation to support it.

Cheers

Scott

Pelican…[Read more]

Milkman,

There are quite a lot of people who are doing fair and ethical wraps. It’s just that many people don’t want to believe it.

Cheers

[cap]

Scott

Pelican Investments
http://www.pelican-invest.com

Steve,

If you are as committed to it as you sound, the cost is insignificant…… you will more than make up the cost in your first deal.

Cheers

Yack,

based on Jenman’s 1st person comments on the Victoria meeting, think he better pay his $20 this time… hehehehehe….