Category Archive for Wraps / Vendor Finance

Morning Guys,

I have a  house available in Boambee East which is just 4 minutes from Coffs Harbour.

Its a 3 bedroom house.

We are making it available to someone who wants to own their own home for $565.82 per week. And is serious that they want to stop renting.

Here are some more pictures and my contact details

Don Christie

Just this last week I was lucky enough to be sent one of the new Massive Property Packs from Rick Otton. Rick wanted someone in the field doing the sorts of creative finance transactions he puts together that could comment and review his new property course.

I was so excited that when the courier left a sorry we missed you card i felt like i had let him down by not being home to get the pack. Sorry mate I was trying to tie up a townhouse complex with a buck and the conversation went way too long,but we can talk later! So I did not receive the pack until the following Tuesday.

Just to let you know the first property pack I bought from Rick was the Wrap pack in 2001 and for memory it came as a tape, folder, legal docs and calculator set. Not much bigger than most over night postage packs. The Massive Property Pack came in a box that the courier said was 7kgs! so this added to the anticipation!

You can see in the picture that its a very professional looking set of items that will help create a basic business if you simply follow the system step by step. And don’t change anything in the system besides your telephone numbers on the offers and forms he lets you use! Otherwise people will call him rather than you!

In the 2nd page of the folder manual states ‘How to Buy A House on One Days Pay‘ is really the basis of the pack. We all know that less money in any transaction reduces the risk of the transaction, but what if you could control, manage and on-sell a property you have no more exposure than a day’s pay?A true No Money Down strategy to buy property.

The general concept is not new and most property ‘educators’ are talking about options now the property boom is in a downturn and they cannot rely on capital growth to secure more seats to seminars and conferences. Rick has been doing Lease options and other no money down transactions for years. 15 or more years to be precise. His experience comes from the savings and loans crisis in the United States when banks were not lending on any property and guys like him had to buy houses and transact property without any banking system.

I am not saying he made the whole system up, that would be untrue, but I do not know of anyone who is so upfront and honest in the way he educates his students. I used to be able to call Rick on his mobile just because I bought his Wrap Pack years ago! Who else lets you do that? I think this shows he actually cares about what his students are doing with his material out in the marketplace.

My feeling is that Rick is trying to help people setup a business similar to his company We Buy Houses. The fact that the examples and checklists we received in the pack are branded We Buy Houses is a testament that nothing is off limits in his eyes to help his students build their own property business.

So what is the Massive Passive Property Pack like?

Well here are my initial findings!

1. There is literally so much audio content that you will have to drive to Perth and back to get through it! Seriously, you will have to spend some serious time getting through these, but the content is fantastic, you just fly through them. You may think this is a drawback, but I think that as a hands on sort of guy I need to hear someone talking about the concepts and ideas for the lessons to kick in.

There are private phone calls, conferences and meetings, one on one conversations and private mentoring sessions that are covered and heaps of professional people who have supported Rick are involved. Guys like Tony Cordato, the vendor financing lawyer everyone uses in Sydney. There is Lewis O’Brien who is the Lawyer for the Victorian Guys using Rick’s techniques. Most of the audio is transcripted in a seperate folder and for those of us who appreciate being able to re-read something is a handy resourse.

2. There is a couple of hundred pages of how to, what to and when to articles aswell as a full guide as to how each transaction should be set up. There is a step by step guide to speaking with agents and vendors and a full script for the telephone conversations that need to be made with confidence and also extract the information to make this business a success.

3. There are a couple of Dvds which help the students experience the ideas and concepts from a difference stimulus, which is great as it gives a whole new understanding as some of the content on video is a workshop and it discusses basic terminology of the no money down strategies.

4. The successful sandwich lease options guide is a handy 40 something page booklet which I found to a be a go to guide today actually whilst trying to get an agent to sell my concept to his client.

5. There are two audio cds from two of guys living and breathing the business just like Rick. One of them is Martin from Cairns who makes a Million Dollars per year from This business and the other is Chris who is a Dancer in Tasmania. Chris is a normal family guy who has to buy properties cheap or for no money in it to get his business going. These are eye and ear opening as getting started is hard with a few blunt NO’s from agents etc.

6. There is every state in Australia and New Zealand’s paperwork and all the legal requirements have been listed by Lawyers in those areas. This is great if like me you live on the border of two states and do business in both!

The Massive property Pack will no doubt create so much attention in the real estate industry, that rick will be busy aging making more and more copies to make sure there is enough to ensure our business keeps growing and growing. As the Martin the Cairns Guy says. ‘Just back yourself and go for it‘ and ‘We offer a superb, superb alternative to the banking system this is going to be more and more common’.

Get a copy of the system from this link. Massive Property Pack Rick even offers a 5 times the price guarantee, so if you follow his system for a year and do not make more than 5 times the cost of his program, he will refund the cost of the Massive property Pack.

Don Christie

I am have just made this fantastic house available in Deception Bay. We are happy to help you in if you suit our ownership program. You could be a home owner today!

The house is less than 2 years old and currently has a tenant that pays $340 per week. The new owner can move straight in as the current tenant is happy to move out if required.

The house in within easy reach of many local shops, schools and transport.

We are looking for a buyer who may not have the normal 20% deposit, is able to service a loan with us and is keen to just get into a home of their own.

I have a post with the www.owner.com.au website so full details are here.

I am advertising this house under a ‘No bank Qualifying’ system as set out in the massive property pack by Rick Otton.  Click here for details about Rick’s System

Don Christie

P.S. If you are interested in buying this house from me, please feel free to use the contact link in the tool-bar.

My Good Friend and Buddy, Rick, has given me a great free audio file from one of his closed door sessions.
He has been kind enough for me to make it available to you guys in order for me to get my website up and running.
Its all about the standard and doing things differently!
Who said the Guru’s don’t help?!?!

http://www.propertyinvestoradvice.com.au/

Its on the right hand side together with a lease option report for all to enjoy.
Rick is sending me a few more in the coming weeks.
Also i will be doing a day by day of buying a house and sandwich lease optioning it. With pictures, emails and solicitor’s commentary too. Video of the house and the conversations with agents for those of you who are having trouble.
Don

I have just come across a vendor finance calculator that makes my ‘evaluating’ process so much simpler and easier. It makes all the correct assumptions and calculates everything I need to know about the validity of a Vendor Finance transaction.

Its called the  Vendor Finance calculator and it was developed by investors who needed to understand how much, when and what their costs or profits would be.

I have run a few deals by the site and they are easy and very straight forward to read and understand.

The calculator works for investors doing all vendor finance transactions including

1. Instalment Contracts or Wraps
2. Lease Options
3. Back to Back Lease Options
4. Second Mortgages
5. Joint Venture Agreements
6. Honeymoon Rates Mortgage
7. Insurance Varying Laws
8. Taxes between States

When submitting details into the system the calculator asks you what type of buy and sell you are proposing to do. There is even a section where you can qualify your buyers. There is a section on the site for saving transactions and you can log into see what people owe you and what they are repaying you. I found this really handy when out of town last week.

I am sure you will agree that the guys at Vendor Finance Calculator have got a great free program for you to evaluate your future transactions. The best thing is that you can do dream scenarios and calculations varying different components and styles.

You do need to register to use the program however I see this as a great way to keep in contact with fellow investors and when the guys upgrade things no doubt they will keep the registered users up to date.

Still Wrapped!

Don Christie

How to sell your house fast!

Now I know the ideal plan is to have 1000 houses that you never sell EVER, but can I let you in on a secret that 99% of investors do not know…

Secret
Equity gets LAZY

Make sure it is working harder then bank rates

Read the Rest.

When buying property hopefully all investors know that they are up for closing costs or fees attached to buying property. The exception is that some things off the plan are eligible for a concession. The rule of thumb is usually around 5-7% of the purchase price is run up in fees, duties and charges, all of which need to be paid for at, or just after, settlement.

One of the biggest things to overcome is the stamp or transfer duty, which is the state tax related to both the purchase and registration of the property. It was introduced to obviously create revenue, but if you do not pay it you will not be able to register yourself as the title holder or new property owner.

Now when stamp duty is tallied up over the life of an investor buying multiple properties, you could run into the hundred of thousands of dollars. So, why not ask someone else to pay? Let’s ask the vendor. I did and was very surprised that they agreed to pay. Read the Rest.

When looking for houses to buy how many come with finance attached? Not many. Only new estates or companies like Delfin or Devine supply houses with finance attached. So why not buy a house then sell it to someone over 30 years and live off the surplus each month. On a side note, if you were to just buy a house directly from a vendor and made payments to him without interest, you would most likely pay it off well within 10 years.

A Wrap business sells houses with finance already in place from me to the new buyers of houses.

They do this by way of an installment contract or a wrap. This is how it works. Its called a wrap as it usually has one mortgage ‘wrapped’ around another. Read the Rest.

With today’s inflated real estate prices, many hopeful home owners are stuck renting as they experience difficulties securing home finance as they don’t pass the bank’s strict lending criteria and others, simply can not afford a large cash deposit. Especially with the increase in the interest rates yesterday!

It would be great to use some of the rent you pay the landlord, but that will never happen or will it? Read the Rest.

I bought Rick’s Wrap Pack a number of years ago and have been in the fortunate position to have used it and benefited the lives of not only myself, but the people we vendor financed into homes. Homes they now call their own, their choice to repaint and refurbish.

No more dead rent money! Read the Rest.