Admin / Brent,

I’ll add my 1.5 cents here…. Think the previous layout was much better…..

Anyway, I guess we’ll get used to the new style……. but hope for a return to the old….

Cheers

Scott

Richmond,

Yes, and that just means that the media will choose a slant on an issue to get the ratings in…. won’t it ???

Whilst I DO know that not all media outlets are into that sort of thing…. unfortunately ( like us nasty wrappers ) you get tarred with a rather large brush…..

Frankly I am very selective about what news I read and watch nowadays, as, I just find a lot of it biased……

Wish it wasn’t……………………

Sounds like someone getting very creative, and making something very very complex…..

Personally I’d say that are preying on people’s greed…… by being greedy themselves…. I obviously could be wrong….. but do not like what I see……

VFA really has to get going……..

Scott

Russ…..

we’re in the frolic area mate… letting off steam, having fun… !!!!

hehehehehe….. bottom line….. yep….. but not in here !!!

Steve,

We bought another copy last week…. ( HEY !!! I still couldn’t find any magic pill… hehehe…. maybe they are only in the full priced versions….. )

We are actually giving it to the person on our “team” who is a banker……. After seeing what we do, his eyes lit up….. and now they lend us $$$$

I’m now listening to your wealthtips online tape set….. quite funny !!! you were talking about having 50 houses, so they must be old…….

You also mentioned MAY 9th. 2004 as your target….. are you there yet ???

Cheers

Scott

Scott

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

I mean, not that anyone does that here at all… [cap]….

Fish,

Thanks….

Well, I guess let me ask everyone out there, what is the big difference between a bank and a wrapper ???

1. In both cases if you don’t make payments, you are likely to lose your home, NO MATTER who’s name is on the title……

2. If you are in difficulty, a wrapper ( usually ) will work with you to come to an agreeable solution….. Banks – not usually….

3. Possession of title – Well, you only get it once you have paid for it…. right…. Banks & Wrapping = SAME………

4. Naughty wrapper – you are making money on a %% on the loan….. HELLO…. that is EXACTLY what banks do….. They borrow from places like Japan, at around 1-2%, and then lend it to us at around 7%……. As a wrapper I only markup about 2.5%…. so who’s the crook here ??? Both are out to run a business and make a profit….. this is the way life is… in ALL industries…..

5. What about nasty wrapper going bust…. – You mean banks NEVER EVER go down the tubes….. ( anyone remember the Bank of Credit & Commerce ???, to name but 1 bank ??? ) Yes there is a very low chance of that happening, BUT, on the flip side, wrappers, who are in this for the long haul, are financially educating themselves, and, want to grow…. i.e. not going to get into a tough postion……

On this one…. maybe we need to establish an escrow system, whereby a 3rd party pays the banks first…..

6. Hidden fees & Charges – Hmmm… usually they are all stated in a contract, be it a bank loan or a wrap contract…. just that some silly bunnies don’t read what they sign….. no differences here then…..

This basically sums up the issues that people have a problem with…….

With the exception of 1…. I really do not see much of a difference…..

It’s the idiots out there, ( on both sides of the wrap contract ) that make this out to be a bad thing……

So, where do we go from here ???

1. EDUCATION
2. REGULATION

Enuff rambling for today…..

Cheers

Scott

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

Swampy,

Pisces will tell you… If you heard it in the media it simply MUST be true….. right Pisces [lmao]

The VFA is working WITH the state governments with the aim to educate, and, to begin regulating wrapping….

Vendor Financing & Wrapping are a good thing, when done properly…

Unfortunately, there seem to be some greedy idiots out there, who stuff it up for the rest of “us”………..

Funny how shows never have testimony from the heaps of people out there who are happy to finally be able to own their own home….

I myself when I return to Australia, won’t be able to get a normal loan, and, YES, am happy to buy a wrap property myself to live in…. as long as I knew the terms….

Wrapping is one of several financial options available to people. simple as that….. you way up the pros & cons, then make your choice…

When you buy your PPOR, if you went ahead without legal advice, you’d be pretty stupid wouldn’t you say ? Same for ALL purchases of property. get independant legal advice…..

Sorry to rant on here folks, but simply put, we are all ( mostly !! [blink] ) adults here, and should really be able to take care of ourselves….

It’s the victim mentality of the lazy that get the ratings on TV… Oh dear… I signed a contract, but I didn’t check it first…. now I have to give up my first born…… DOH !!

Is it just me, or what ? But when I sign something, I read it first…. if it’s important, i.e. related to me buying a home, guess what ??? I get legal advice…. BEFORE i sign it…..

Scott

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

Se7en,

Bec only has herself to blame here..

She was warned on numerous occassions to tone it down, and she ignored that……

There is contributing and there is contributing….. a MAJORITY of Bec’s posts were not constructive at all….. and that is what was asked of her…..

NOT a crushing of her will, but a request to be more balanced in her comments….. She didn’t do that, and now it’s too late……

we all have a choice… stay here and continue discussing real estate in a civilised manner, or, head for the door…… your call which option you want to take…..

Lozza,

Interest only is NOT ILLEGAL…

BUT, you should always ensure from a Consumer Credit Code side, that your outstanding ballance is not more than the wrappee’s loan…….

Cheers

Scott

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