I’ve seen ads for wraps that require the person being wrapped to, to pay as much as $700 per week.
I’ve also seen a lot around the $400 mark per week. Can you successfully wrap at these rates, I was of the mindset of wrapping houses valued upto $120k max.
Also can you wrap units or even apartments? Or is it just stand alone houses, any experiences would be appreciated, broaden my mind. Thanksg7
You can wrap anything. Having said that, obviously you have a bigger pool of potential buyers when the repayment is lower.
But I’ve wrapped plenty of houses in the $150-200k range successfully, so a low price tag is not essential.Keep smiling
Felicity
>>You can wrap anything<<
Yeh, my wife always wraps my lunch for me. [fez]
There are many ways in which people approach vendor finance.
They load the selling price, they charge a premium on the interest rate, some do a combination of both of the above. Other arrangements may involve having a balloon payment after a number of years (which basically forces the wrappee to refinance – let us just hope that the property has gone up in value.
Others again have a scheme whereby the wrappee occupies the property whilst paying a higher than rent occupation fee with the wrappee, after a number of years, sharing the ownership of the property with the wrapper and the wrappee, after
a predetermined number of years, having the choice to either pay out the wrapper and become the owner outright or the property being placed on the market with the profits being shared between the two parties.Hope this helps.
Pisces ( a non-wrapper though it looks like that will be changed shortly). (You all have finally convinced me [fez] )
The topic ‘Do people pay that much?’ is closed to new replies.
