Enthused wrapping



From: Investor Newbie

I was on the site earlier today looking round, and woke up at 3am, wanting to look round more!
Anyway, for the past two hours, I’ve been looking at wraps (here and elsewhere), and I have a few questions.
When buying a house, the bank (or other landing institution) insists that you pay mortgage and put their name on it as first mortgagee. How does this synch with you wrapping a mortgage around theirs?
What is a reasonable interest rate to charge? 0.5% above your banks rate? 1% above? However much will the market bear? How much is that?
Has anybody had success with wrapping in regional areas? Is it easier or harder than major metropolitan areas?

Thanks in advance

investor_ newbie
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Reply: 1
From: Sim' Hampel

Hi Newbie,

The answers to a lot of your questions are covered in earlier posts in the forum. I suggest you use the search facility to track down past discussions.

Other sites to check out are Steve McKnight's Wealth Tips Online (general information and discussion forum):

John Burley's web site (books, resources and discussion forum):

and the Vendor Finance (Wraps) Association Incorporated web site:

That's just the start, and I'm sure Michael Gruber and Yuch can come up with more info and links for you ;-)

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Reply: 1.1
From: Michael G


Links?, we can do better than that!, we'll even offer to mentor them! For reasonable compensation of our time of course :)

But, those links you've mentioned contain a wealth of info. It's just a matter of reading through them.

Michael G.
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Reply: 1.1.1
From: Rick Gibson


I was wondering if you could drop me an email regarding your mentoring as I would definitely be interested in discussing the finer points of wrapping with someone who is doing it.

I can be contacted on rgibson@connect.net.au


Rick Gibson
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