Similar to Steve we stared using the guys from Darlop as they were only 10 minutes away from our offies.

In the end we have written our programm which appears to be just as good and can be tailored to indivual needs and circumstances.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Kelvin

Over the last 7 years we have strata titled 47 blocks of units in Brisbane and sold the units off separately after renovating them. We still own 4 blocks as an income hold with a thought of wrapping them individually or renovating and reselling.

The costs in Coffs will differ from Brisbane but in real terms you will be up for:

1) Surveyors costs for undertaking the survey. An indication would be to allow say $500 / unit.

2) Council Fee for lodging the plan for sealing. This will vary but as an indication for Brisbane allow $3300.

3) If the property is mortgaged you financier will need to consent to this and will no doubt make a charge to cover their costs and the reregistration of the mortgage on the 4 separate titles.

4) The Dept of Lands will charge for lodging the sealed plan and providing you with 4 separate titles.

5) Legal fees & additional rates as the property rates are no longer calculated on a bulk assessment.

Other consideration would be the age of the property. In Brisbane any thing prior to the 74 Building Act does not require to comply with current building standard with regards to firerating etc. Certainly a cost saving.

All in all a prosperous exercise. Out of curiosity which part of Coffs?

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

We take wrap business from around 5 introducers in the State all of whom use our application forms and get the client to complete and sign the application on the basis that they are lodging an wrap application.

We would never deal with any referer who merely gave out a telephone number and asked us to contact the client becasue as Robert points out it is a breach of the Privacy Act.

Any wrapper who operates this way should be driven out of the industry as quickly as possible.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Foston

Out of curiousity, is DD licensed to provide his services in Qld.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Roberts right that is old news.

However thankfully Qld is a big State. We have dozens of properties around regional Queeensland that we purchased outright over the last 6 months and are no looking to wrap them.

Knocked down in the rush of enquires and the prices have gone up considerably.

Stay away from the Big Cities and you can’t go far wrong.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Tait

There are many companies who locate property for you at a fee you just have to ensure that depending on which state they are in they hold the relative license.

In Qld where we are you need to be licensed to be a buyers agent.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

You certainly are not elligible for the FHOG on the execution of a Lease Option.

The LO contain the Option document and a standard REIQ (or State equivilent purchase contract) which can be exercised at a set time and for a set price similar to a standard ETO.

Subject to legislation the Lessor maybe entitled to receive rental assistance directly assigned to him as well other government benefits.

As Felicity mentions the FHOG on wrap varies from State to State. In Qld for example you need to wait a minimum of 1 year and comply with several other conditions.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

I am with Terry?

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

We settled 13 new deals in November of this year which is more than any previous month in the previous 8 years.

We could have settled double that anount but have decided to tighten up our lending criteria.

As Terry mentioned many of the clients could obtain non traditional style lending at an array of interest rates but choose to to take a wrap deal.

Certainly the quality of application has improved no end.

Thankfully we are closing over Xmas and the New Year but don’t let anyone tell you the level of enquiries is dieing off.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

ascending

Don’t want to put a dampner on your enthusiasm but please first make yourself aware of the legislative requirements in Qld if you intend to act as a Buyers Agents.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found