Wrap Packs

From: Dale Gatherum-Goss


Hi

I've been fortunate enough to look at the wrap packs produced by both Steve McKnight and Rick Ottons lately.

Steve's has a lot of theory but does not seem to have a lot of "do this, then this," type of information.

It is good though.

Rick's is much better in my opinion because it does cover the "do this, then this, say this" which I wanted to see.

They're about the same money and I think if you were looking to get into wraps you would benefit from both, but, probably more from Rick's manual.

Just my thoughts, my son James is planning to compare both in more detail. I'll copy his notes when they're ready if you like although they'll probably be posted to the freestyler forum where he lurks.

Have fun

Dale
 
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Reply: 1
From: Property Investor


Hi Dale,

How are you doing?

Isn't Rick Otton a disciple and/or friend of Steve Mcknight's?
I know they both have different websites and one is advertising their package cheaper than the other. However what I want to know is what else did you think about them?
What is your view on Wraps as an accountant?
I'm only asking this because that is exactly what Steve Mcknight is also. I have also been to one of his seminars.

Regards,
Mannie.
 
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Reply: 1.1
From: Dale Gatherum-Goss


HI Mannie!

I'm not sure of the relationship between Steve & Rick. I've not had the pleasure of meeting either in person, although, I can say that both appear to have strong ethics from what I see and hear.

The blurbs on each show that Steve has been doing wraps for about 3 or 4 years whilst Rick has been doing them for about 10 years.

Both different different goals. Steve's appears to be that the tenant/purchaser stays in the house under Steve's mortgage for the full 25 years. Rick's appears to be to help the tenant/purchaser refinance (and thus pay Rick out) within a couple of years.

Wraps work. However, they are a lot of hard work and a full time job from what I can see and hear. Serviceability seems to cause problems and you need quite a few properties (I've been told about 20) to make the idea work properly.

I hope that this helps. Both gentlemen visit our forum often enough and perhaps they will be so kind as to correct me if I have misled you in some way.

Dale
 
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Reply: 1.1.1
From: Felicity W.


I just wanted to add that having met and spoken to both Steve and Rick a number of times, they are two people with enormous integrity and a strong desire to help other people succeed. I have been incredibly impressed by their willingness to share their time and extensive knowledge answering my questions.
I'm in the process of setting up my own wraps business, and I have to agree with Dale - it's a lot of work!! But I hope to be able to share some of my experiences good and bad along the way, and ultimately my success!
And as Dale said, it's no different to other property investing in one respect - the finance is the "hardest" part!!!
Keep smiling
Felicity :cool:
 
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Reply: 2
From: Property Investor


Felicity,

Good on you!

I wish you all the best of luck with your Wraps business.

I found Steve to be honest, however I always have questions on different strategies that I don't fully understand.

I'm learning quickly though!

Mannie.
 
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