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Hi Alistair,
Lots of feedback, all saying the same thing… steer clear of the wraps. Are they really all that bad ? Maybe some more study is needed before I dive in. I was under the impression they were all good.. own your own home, the home you want in the area you want for the same price as what you would pay if renting.
We have shopped around and 95% mortgage on 750k comes with a nice $1000+ p/w repayment package, thats if any bank etc will give us that amount. I would speak to your contact. The bcan e-mail me direct at [email protected]
Regards
Pelzer.
Thanks 4 taking the time to read our message. Yes, banks are best but house prices in this area start at around 750k, using traditional methods ie, banks, mortgage brokers etc we need to come up with a 20% dep+ costs….200k, which is money we would rather put into buying multiple props instead of blowing it all on 1 place.
The average weekly rent here is 4-500, which is affordable for a mortgage, but why pay someone elses house off. We would like to get involved with a WRAP investor, pay a much smaller dep. and a higher weekly payment, say 250k over 10 years and then the balance via a traditional mortgage.
Anyway, thanks again and all advice is greatly appreciated.
