All Topics / General Property / Wraps???

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  • Profile photo of rolonationrolonation
    Member
    @rolonation
    Join Date: 2003
    Post Count: 7
    December 2, 2003 - 7:29 am

    Hi Guys

    Excuse my ignorance please, I have just been out and bought the book 0-130 properties and upon purchasing the book store clerk was telling me that the main process used in this bookk is wrapping and that this is a big no-no in Western Australia. Is this so or has the store clerk got his facts mixed up??

    Confused

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post Count: 2,429
    December 2, 2003 - 9:15 am

    Hi rolonation

    I would dispute that the main process in the books is wraps. It is a big part, but there are still examples of renos, buy and holds, etc. etc.

    In WA, to do a ‘wrap’ you need to get a credit provider’s licence – cost couple of hundred, time frame, couple (or more) of weeks. I don’t think it’s too hard, but it’s ‘one more hoop’ to jump through. There are plenty of WA people around here, and this has been discussed at length. Do a search and have a read of the Wraps Forum.

    Cheers
    Mel

    Profile photo of BEAR1964BEAR1964
    Participant
    @bear1964
    Join Date: 2003
    Post Count: 702
    December 2, 2003 - 9:24 am

    I believe the only place you cant do wraps is in South Australia. However this can be overcome by rent to buy lease strategy.

    Regards Bear

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