All Topics / Help Needed! / What percentage do a runner?

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  • Profile photo of SeachangeSeachange
    Member
    @seachange
    Join Date: 2004
    Post Count: 5
    July 19, 2004 - 2:34 am

    Hi all,

    I want to seriously get into Wraps. Those of you who have done 20 or more, can you tell me what % of wrapees have done a runner on you? I am concerned that I would need a lot of money in reserve incase I had to meet interest payments while waiting for a tennant or another buyer.

    Appreciate help.
    Cheers
    Seachange

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    July 19, 2004 - 6:43 am

    I have only done 6, and only one of those did a ‘runner’ ie left in the middle of the night. It was not really a hassle though, there was a short period where I had no income coming in, but I kept the deposit, kept the property which had grown 20% in value and I got a court order saying the tenant still owed me money. I chased him briefly, but decided to let it go in the end as I was not out of pocket.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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