vendor finance where would it best be learnt please? from rick otton or from julia and david siacci?
vendor finance best learnt where? rick otton or julia and david siacci?
- Thread starter motivated 5555
- Start date
Hi Motivated
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's 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.
Cheers, Paul
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's 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.
Cheers, Paul
Thanks I will do that thank you .
Hi everyone,
I know that its possible to make money by owning the home and then selling it to someone on a vendor finance arrangement, but can you do this the other way round and make money too (i.e. rent to buy from another)?
It seems an interesting idea but also seems as though you are getting ripped off with the weekly repayments each week (as the tenant).
I know that its possible to make money by owning the home and then selling it to someone on a vendor finance arrangement, but can you do this the other way round and make money too (i.e. rent to buy from another)?
It seems an interesting idea but also seems as though you are getting ripped off with the weekly repayments each week (as the tenant).
Yup Rate for risk
I dont see many people forced to buy a place on VF terms, mostly a choice I suspect
ta
rolf
Otton v Siacci
I have been to both of their free seminars:
- Rick claims to have had Julia and David as students of his
- The cost to do David and Julias course is about half the cost of Rick's. I understand you walk away with more documentation, contracts etc with Rick's course.
- General gut feel.... David and Julia came across as very genuine and were more than willing to offer alot of advice for free to me at the end of their seminar, no strings attached. I genuinely felt they were there to teach others, rather than just looking to make a buck. They would be the ones I would choose if I was to attend one over the other.
I have been to both of their free seminars:
- Rick claims to have had Julia and David as students of his
- The cost to do David and Julias course is about half the cost of Rick's. I understand you walk away with more documentation, contracts etc with Rick's course.
- General gut feel.... David and Julia came across as very genuine and were more than willing to offer alot of advice for free to me at the end of their seminar, no strings attached. I genuinely felt they were there to teach others, rather than just looking to make a buck. They would be the ones I would choose if I was to attend one over the other.
Important question though - are you looking at vendor finance to buy or sell?
Hi JWR
All vendor finance buyers understand they will pay more because they can't get a loan from the traditional market. A lot of them have also been to third tier lenders before they come to vendor financiers. These buyers tell us that to get a loan from these lenders will cost them anywhere from 13% to 16%.
Currently the average vendor financier is charging between 9% and 10.5%, often with lower honeymoon rates for the first few years.
Your ability to get any loan will always depend on how the lenders perceive your risk profile. If you are assessed as having a higher risk profile than the average, you will pay more to borrow the money and, as you can see, it's not vendor financiers that are providing the most expensive money in the marketplace.
Cheers, Paul
All vendor finance buyers understand they will pay more because they can't get a loan from the traditional market. A lot of them have also been to third tier lenders before they come to vendor financiers. These buyers tell us that to get a loan from these lenders will cost them anywhere from 13% to 16%.
Currently the average vendor financier is charging between 9% and 10.5%, often with lower honeymoon rates for the first few years.
Your ability to get any loan will always depend on how the lenders perceive your risk profile. If you are assessed as having a higher risk profile than the average, you will pay more to borrow the money and, as you can see, it's not vendor financiers that are providing the most expensive money in the marketplace.
Cheers, Paul
