mentors and advice on wraps in Brisbane QLD

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From: Liz See


Anyone with experience please contact us as we would love some advice any advice on this concept.Have just found out about this concept and we are inspired.Please help us.
 
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Reply: 1.1
From: Liz See


Thanks alot Geoff for your help,have you been to one of these seminars.Anyone else with any other advice?Thanks again.
 
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Reply: 1.1.1
From: Geoff Whitfield


Liz,

I have not been to Rick's seminars, sorry I can't help with that.

My own thoughts- from one who has not wrapped.

a. Having talked with people in the last Freestylers meeting, I like a lot of the concepts which I was sceptical about before.

b. Rick Otton has a video available from his site (http://www.creativerealestate.com.au) which gives you a video "free" (plus $6.95 postage and handling)- it gives you an overview. It's short, but shows the essentials.

c. The seminar is very cheap, so no harm to go to it. It IS called "Wrap Around Australia", but I'd be tempted to call it the "ric KOTTON WRAP" (or the Fine Otton Affair)

d. Obviously, expect the hard sell for the other bits. Don't expect to learn everything for $39- it can't be done.

For me, I'm very close to being convinced to pay for the Wrap Pack (which apparently gives ALL the paperwork you need to start in wraps, plus tapes and presumably instructions. (See http://www.creativerealestate.com.au/the_wrap_pack.php). But I've just started a deal, and I'm sacrificing a short-term cashflow for (I hope) a long-term one. I cannot spare very much just now.

There's also a weekend coming up in Sydney (http://www.freestyler.net.au/events/boot_rick.html) which looks to cover a lot. Between the pack and the weekend, I suspect you'd be able to start out.

Now, a question from me to the wrappers.

Just having started a deal (yes, Tibor, cash flow positive) which will not leave much to spare- is it possible to start into wraps without having too much equity? Or do you really need to have enough to buy the property and to wrap it to start in the business?
 
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Reply: 1.1.1.1
From: Michael G


Hi,

Think about it...

To buy a place, you need $$$ for;

- deposit
- stamp duty
- legal fees
- searches
- loan fees

Now, can any of this be passed to others?

- deposit - maybe get vendor to finance this?
- stamp duty - this needs to be paid before you onsell. If you don't like cash, maybe a short term personal loan? or upfront fee from the wrappee?, maybe a short term investment loan from someone else?

- legal fees - you're going to pay some during settlement and some more after settlement completes (when wrappee gets possession). Can you pass this cost onto the wrappee as a fee?, don't know, test the market.

- searches - pest/building people are gunna want their money sometime, from the time you do the searches, till when the deposit is released, maybe a bit of a wait, so maybe fees are the way to recoup these funds?

- loan fees - mortgage lenders will charge you application, valuation and LMI, some prior to settlement and some at settlement, some of it can be capitalised, some cant. Each lender is different, this means, legwork. Find out how much and when its due, this will help you decide what youre up for and when. ONLY THEN, can you work out who you can have help pay these costs.

This is not advice, just some pointers to consider.

Michael G
 
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Reply: 2
From: Andrew D


On 7/18/02 1:45:00 PM, Liz See wrote:
>Anyone with experience please
>contact us as we would love
>some advice any advice on this
>concept.Have just found out
>about this concept and we are
>inspired.Please help us.
Liz,
I am also a newbie to the forum but have done a bit of "study" into wraps. I know there are two rap kits out there Rick Otton and Steve McKnight's. Both seem pretty good. I bought Steve's and I am going on Rick's course in August. I am finding out a lot and also keen to talk to others. I also joined the Vendors Assoc. in Brisbane...yes I am a brisbanite too.

Feel free to contact me if you wish.
deero@optusnet.com.au

Enjoy
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