"Sack the bank" seminar

[evisional]

I just vsited the website http://knowledgesource.com.au/sackthebanks/

The site has a lot of slogans. I am curious. What do you think?

 

[Aaron_C]

It sounds like property flipping to me if there's no banks involved and no money upfront. But even then you need deposit money for contract signing.

 

[handyandy]

Its wrapping or vendor finance.

If you get into wrapping it's really a business with property just the product.

there have been past discussions on wrapping, look under Rick Otton (or Rotton just an unfortunate first name)

Cheers

 

[Peterw]

My guess its a combination of both, vendors terms, and flipping. Using puts and calls on the way through.

 

[Lofty]

As Andy says, it's about vendor finance in real estate. We've been doing it since 2003 and it's worked for us.

I'd suggest your first move should be to research and then do some more research ;-) A few web resources that may help in your search for information about vendor finance are:
http://www.propertyinvesting.com/strategies/wraps
http://www.propertyinvesting.com/str.../lease-options
http://www.jvpropertypartners.com.au...d=50&Itemid=75
http://www.vendorfinancelawyer.com.au/
http://www.vendorfinance.asn.au/ The Vendor Finance Association of Australia

Once you have researched and read as much as you can, it probably worth considering how to get more detailed information/education. Possibly with one of the educators out there or via some hands on learning with an experienced VF'er.

For now I'd suggest you do the research and then get back to us when that's complete,

Cheers, Paul