Hi,
Yes, my first intro into wraps was via John Burley with his seminar Automatic Wealth. I sat through two days of that seminar wanting to know about wraps and in the end the last hour glazed over it. Not impressed.
I then did a seminar with Steve Mcknight which I found very informative.
I've also read books by Robert Allen, and read many posts of forums on the topic.
I've been actively wrapping for over 12 months. The first few deals almost cost me my sanity, but since then they have all been fixed.
Having almost been burnt, I stopped to determine why I got burnt and reworked my system to safeguard myself (learning by experience).
From my experience I found that there was little in the maket to help me comply with the credit code (ie produce loan statements) so for the last 6 months Yuch and I have been developing a program to do just that, incoporating everything we believe people who do vendor financing need to run such an activity.
I'm a member of the vendor's association (
www.financewraps.asn.au) and find that the meetings are very informative and a good start for those looking to explore this field.
As for finance, I have used ANZ, Adelaide Bank and Mortgage House.
When ever I am asked about finance (these days, that's anywhere, ie at the markets, door-to-door, cold calling, etc) I always say yes and spend some time asking whether they will fund my wraps. That's when I explain what I do. To help them understand I usually offer to send a powerpoint presentation explaining the pros and cons of wraps and how as a repeat customer I can benefit them if they are willing to work as a team.
Over the last 12 months Yuch and I have been to many offices to do presentations to brokers and their funders to explain the wrap concept to them.
A thought, create a promotional package for lenders, maybe use a flowchart, or a spreadsheet, whatever you think will get the message across.
Michael G