Hi people
My partner and I are getting ready to make our next purchase and we have been entertaining the idea of doing a wrap.
I know how it all works - what's troubling me is the sums.
If you look around outer Melbourne - say a $200k to $250k 3bdr brick home - then add your margin the monthly payments are the best part of $2000 a month.
Now if you are doing correct due diligence on your clients and not letting them lend more than one third of their net income - that means you are looking for clients earning over $100k pa.
So I guess this post is about market research. I know there are some very experienced Melbourne based wrappers in this forum. Does anyone care to share some first hand experience with any deals they've done in the last 6-12 months?
I'd be really interested to hear of the sale costs and the effort required to find suitable clients?
Or if anyone else has an idea of how I could do further research on the above I'd love to hear that too.
Cheers
Craig
My partner and I are getting ready to make our next purchase and we have been entertaining the idea of doing a wrap.
I know how it all works - what's troubling me is the sums.
If you look around outer Melbourne - say a $200k to $250k 3bdr brick home - then add your margin the monthly payments are the best part of $2000 a month.
Now if you are doing correct due diligence on your clients and not letting them lend more than one third of their net income - that means you are looking for clients earning over $100k pa.
So I guess this post is about market research. I know there are some very experienced Melbourne based wrappers in this forum. Does anyone care to share some first hand experience with any deals they've done in the last 6-12 months?
I'd be really interested to hear of the sale costs and the effort required to find suitable clients?
Or if anyone else has an idea of how I could do further research on the above I'd love to hear that too.
Cheers
Craig