All Topics / Creative Investing / Wrapping experince

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  • Profile photo of tony_corbino13469tony_corbino13469
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    @tony_corbino13469
    Join Date: 2003
    Post Count: 2
    January 24, 2007 - 4:43 am

    [blink]
    Can any one who has completed more than two wrap transactions whether it was worth the effort? And any advice on reference points ?

    cheers

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,024
    January 24, 2007 - 5:31 am

    Must admit i wouldnt be sitting here today with my feet up if it wasnt for wrapping.

    I think if dont correctly and in the right numbers it can very very profitable.

    It is like anything it is not an overnight guarantee to instant millions. It look us 9 years to develop our business and many many hours of hard work.

    All in all i think it was the best business move i ever made – personal opinion only.

    Cheers

    Richard Taylor
    Residential & Commercial Finance Broker.
    Licensed Financial Planner. Ph: 07 3720 1888
    [email protected]
    Looking for life cover – We Guarantee to beat any quote you have in writing.

    Richard Taylor | Australia's leading private lender

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    January 24, 2007 - 9:33 am

    I did 3 and wouldn’t do any wraps again. Low profits and higher hassles. Maybe different if you are doing many more like Richard – economies of scale perhaps.

    Terryw
    Discover Home Loans
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    January 28, 2007 - 6:43 am

    Hi Tony

    We’ve now done a total of 17 Vendor Finance real estate transactions (since March 2004). These have mainly been Wraps but we’ve also done Lease/Options and Second Mortgage Carry Backs.

    My wife and I paid the money and got ourselves educated in Wraps, etc and now have a very profitable business that we enjoy immensely. Good luck.

    Cheers, Paul

    Paul & Karen Dobson
    negative2positive
    Turn your negatively geared property into positive cashflow.
    Phone: (02) 4984 9540

    Talk to us about Wrap Training Joint Ventures.

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
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    An alternative way to finance your home.

    Profile photo of wessy7249wessy7249
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    @wessy7249
    Join Date: 2003
    Post Count: 14
    February 1, 2007 - 8:53 am

    Hi Tony

    to answer your questions ……

    YES wraps have been great for us …..3.5 years and 60 plus in Victoria.

    Great cashflow ……..but if you want to be in property for the long haul then do a mix of stuff .

    We now build houses in Brisbane and leave the wrapping up there to Richard ……..

    His knowlege and experience are well known …

    And finally, you have to decide whether you want a full time business or just a supplement to you day job ?????

    seeya

    Wes

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