Mark,

Vendor finance & Wraps will continue on in my opinion. What IS NEEDED is regulation.

This is what the Vendor Finance (wraps) Association is presently working on…..

There haven’t been many dodgy schemes, however unfortunately there have been some people out there, who have been too greedy and doing nasty stuff..

Today in Vic we continue to see a demand for wrapped properties. It’s about how you carry on your business that counts….

Wraps are brought down by two things :

1) bad/greedy wrapper intent on bleeding someone dry….
2) Customer who does not do their homework on what they are getting into….

It’s all about YOUR ethics… how do YOU carry on a business….

We do it honestly, openly and ethically. We do not hide ANYTHING from the customer, and so far this approach has been very good for us…

We do our homework on the properties we buy to ensure we get a good buy ( without ripping off the seller ).

We had a house we bought below market value, wrapped it at the then mkt value…. i.e. we got our markup profit, and, in actual fact the market continued to move, and our wrappee could actually sell the property today, and make a profit…… to quote Steve ” A WIN/WIN “

There is always bad press on many things in this world…. Long term I see VF/Wraps to be a legitimate AND regulated form of purchasing a house….

Some loopholes DO need to be plugged.. and I hope they are soon…. It’s the VFA and people like Steve who work with government departments to make this a safer alternative….

Cheers

Scott

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

We continue to buy… But we are ( and always have been ) selective about what we buy.

At the lower price end of the market, demand is still there….

Pisces,

Thanks for the advice. Yes I do word what I write rather carefully.

When someone like Jenman turns something I spent a lot of hours working on with others, and, turns it into a case to further his cause ( and his franchises ) I take offence.

The VFA is trying hard to do the right thing by the consumer. For that Jenman has a go at us ( the VFA) and it’s efforts to bring in member accreditation and a code of ethics….. SHEESH….

Anyway… as mentioned above somewhere, or was it the other Jenman topic. I’m not bitter, I never get bitter. But I do tell it like I think it is from time to time….

I put my money at risk, running a business, providing people with homes… I do it openly, and I do it honestly.

Mr. Jenman so far only preaches and earns his franchise fees. I have yet to see or hear Mr. Jenman using any of the millions he has, ACTUALLY putting the CASH ON THE LINE, and helping people….

Enough said for now, lest I be accused of ranting, or attacking the messiah…..

Cheers

Scott

Anubis,

Get a life my friend…. [jerry] I’m not bitter, Simply stating my opinion… Nice to see you like to read my postings so much, to count them [blush2]

If Jenman was honest in his writings, then I’d have nothing to be “bitter” ( in your words ) about…..[eh]

No doubt ( and I agree ) Neil Jenman does some good. But he also has his reasons for that… and not all of those reasons are to help people….[dead2]

As long at there is a Jenman posting here portraying him as the new messiah, I will be here to shoot it down….[beady].

If the contract has expired, then the agent had no leg to stand on…. The potential buyer can do as they please….

If Neil Jenman wants to be so idealistic, he can start by donating the millions of dollars he makes each year from his franchising system, to people who can’t afford a home of their own…..

Sounds like Mr. Jenman now is changing his tune to protect his own business first, instead of the consumer….

My oh my, what a tangled web of deceit……………

IT Specialist with a big blue company…. Project Manager on an outsourcing deal for a bank…… (Yuck in other words…. )

Dellboy,

Depends on your strategy, but would suggest you markup by about 20-25k ( this is entirely up to your comfort level ) and interest rate by 2.5-3%

You want to be getting more than 30/week return….

Lots of people are happy to pay that sort of money per week to have a home….

Scott

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

Just a quick one folks….

Not promising anything at this stage, but am looking at the setup of a finance company, based offshore… Idea is to provide 105% finance to qualified ( by us ) borrowers….

Will provide an update at a later stage on this…

Cheers

Scott

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

Without reading the post, but only the heading I though, what a crock of sh……

Residentialwealth… thanks for starting the topic… my comments below are directed at no one in particular ( yeah I know, I’m ranting along !!!! )

It’s topics and thoughts like that, which scare off the wannabes, and the chicken littles….

We are finding so many good deals at the moment, we can be choosy…

In times like these we are supposedly in now, I see OPPORTUNITY…..

Guess the question you have to ask yourself is ” are you like the rest of the sheep ?”
This is just like the shares boom in 98-2000….. all the herd going for the same thing…..

People need to learn about RE investing, sometimes the hard way….. It’s a long term thing… you can’t just pay someone to tell you everything….

So, what are you ? one of the sheep or a true investor ????

some fodder to chew on folks……

[lmao] would be my first choice… try to stay happy no matter what happens…

[helmet] Would also suit, as I’m a mad motor racer….

hmmmmm… decisions decisions…. Steve… you’re stressing me out !!! ARRGGHHH!!!!

hehehehehehe [tongue]