Wraping sounds like a great idea… and I’m really keen to explore the possitives and negatives involved.
My inital concern is how do you screen potential buyers? If they can’t afford (or secure) regular finance, how can I be confident they’ll pay me?… And what happens when/if they defult?
I’m not adverse to risk… but I’d like to minimise it
]Any imput would be appreciated.
Alison
Hello Alison,
Thanks for making your first post and welcome to the forum… great to hear from you [
]When it comes to qualifying wrap leads you need to understand that you are not just dealing with “bank rejects” and as such a poor credit risks.
There are lots of people who would be great clients but the major lenders have ignored… self-employed, older persons, high income earners but no savings, ex-bankrupts that went under for personal or domestic reasons (divorce etc.)…
Now as for qualifying leads… the 10 critical questions that I ask, which are outlined in the Wrap Library, all focus on trying to determine if the lead is someone with a victim mentality.
If they are then I won’t go further as from my experience these are the people that will default later on when some other need becomes more urgent (like a new phone etc.)
Hope this has helped.
Once again… thanks for your post.
Bye
Steve McKnight
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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