wrappers handbook

[grossreal]

hi all
is there a thing like a wrapper hand book for dummy's
not sure if you look unders wrappers or vendor finance my understanding of vendor finance is abit different but for the wrappers(or vendor finance people)
is there a easy to understand wrapper book that tells the legalities and the structure of paying down what I call a layby loan
I know alot of people do it very informally but someone must have brought out a book on it
and as a lazy person as I am I thought here would be a good place to start.
I want a easy reading thing not a 500 page gone with the wind novel

 

[boods99]

GR,
I think Steve McKnight has put something out like this...not sure of the title. If you do a search on his name, something will come up.
Although I am not a fan of wrapping, there are a few people on these forums that are actively doing it with varying degrees of success.
Boods

 

[Qlds007]

As an advocate of wrapping (especially in todays financial climate) and Director of Qld's largest provider of Vendor Finance in First Home Owners Group Pty Ltd i think you will find there is very little actually written.

McKights book and manual are out of date as there has been varying changes in State regulations. Whilst the National legislation remains unchanged each State has separate Rules and Laws in relation to everything from the payment of the First Home Owners Grant to the comliance requirement of the provider of finance.

 

[Rockstar]

As an advocate of wrapping (especially in todays financial climate) and Director of Qld's largest provider of Vendor Finance in First Home Owners Group Pty Ltd i think you will find there is very little actually written.

Are you wrapping any homes for Xmas Richard?

Hey there is a great opportunity for you here. How are your book writing skills?

 

[Peter Parker]

GR,
I think Steve McKnight has put something out like this...not sure of the title. If you do a search on his name, something will come up.

It's 'The Wrap Kit'. http://www.propertyinvesting.com/resources/5.html

Rick Otton also puts out a similar manual called 'The Wrap Pack'. http://www.financiallyfree.com.au/wrap_pack.htm

Never read them so can't comment on contents.

 

[Qlds007]

Rockstar

Not for Xmas but for New Year we have ventured out of Qld for the very first time in 9 years. Victoria offers better returns as well as speedier FHOG payment.

 

[Ridin-High]

As an advocate of wrapping (especially in todays financial climate) and Director of Qld's largest provider of Vendor Finance in First Home Owners Group Pty Ltd i think you will find there is very little actually written.

McKights book and manual are out of date as there has been varying changes in State regulations. Whilst the National legislation remains unchanged each State has separate Rules and Laws in relation to everything from the payment of the First Home Owners Grant to the comliance requirement of the provider of finance.

Hi Richard,

In your experience do you find that many vendors are open to providing finance to the buyer? I presume its something most people would have very little knowledge about (including myself)

 

[Qlds007]

To be honest most Vendors wouldn't have a clue and those that do probably need to sell outright to enable them to move onto the next house.

The market out there at present is for investors to step in a buy the house after the buyer cant obtain finance and then wrap it to the same buyer and take the profit out the middle. This way the buyer gets the house he/she wants and the investors gets his return.

 

[Lofty]

G'day Grossreal

An interesting resource to read concerning Vendor Finance, in real estate, in Australia is:
http://www.vendorfinancelawyer.com.au/page28.html

Good luck.

Cheers, Paul