Renters of luxury apartments could put the expensive rental rates they are paying to good use and use it a stepping stone to complete ownership of the unit they are renting, if they start using creative strategies in their property deals.
(PRWEB) October 04, 2013
Rick Otton, the pioneer of creative real estate strategies, shares how Sydneysiders can use the rent -to-buy scheme to get their very own luxury apartment in his upcoming Sydney real estate event on 12 October 2013.
Recent census data revealed that 27.6 percent of Sydneysiders are living in high rise units. Waking up with a stunning view of Sydney, however, comes with a high price tag as renters pay an average of $650 or higher every week, according to a news report from Sydney Morning Herald published on 21 September 2013.
“Renters of luxury apartments could put the expensive rental rates they are paying to good use and use it a stepping stone to complete ownership of the unit they are renting, if they start using creative strategies in their property deals,” Mr. Otton said.
Mr. Otton explained in a recent interview that, ‘rent-to-buy’ is a strategy, which gives renters the choice to buy the Syndey real estate they are renting at the end of an agreed period, but before the time to make a decision arrives renters must make monthly payments to the owners of the Sydney property.”
“This strategy is suitable for first-home buyers and renters because it runs on a payment scheme which renters are used to; it only needs 2.3 percent up-front payment, instead of the standard deposit rate of banks; and it doesn’t give additional fees to the buyers like stamp duties and legal fees,” he said.
Mr. Otton added that this strategy also benefits the developers who are selling high-rise Sydney property, because the strategy helps them sell the unit fast and quick and they wouldn’t be forced to drop the price of their units just to attract more buyers.
“The ‘Rent-to-buy’ scheme has come a long way from the time I first introduced these strategies a few years ago. It has now been used to help many people get different kinds of Sydney real estate from houses, apartments, and now even high-rise units,” according to Mr. Otton.
You can learn more creative strategies straight from Rick Otton in his upcoming Sydney property event on 12 October 2013.
This will be the last time you’re going to see Mr. Otton live and in-action for 2013, so register for the event now at http://www.howtobuyahouseforadollar.com/.
About Rick Otton
For over 23 years, property millionaire Rick Otton has built an impressive real estate portfolio using innovative strategies that he has developed - strategies in which transactions are made without the need for traditional bank-type loans. He constantly refines his techniques as he buys and sells properties through his We Buy Houses business which operates in Australia, New Zealand and the UK.
A gifted speaker and educator, Mr Otton conducts regular one-day free seminars across Australia, which build on the the concepts he shares in his 2012 book 'How To Buy A House For A Dollar', voted by Money Magazine and Dymocks Book stores as one of the Top 10 Most Popular Finance Titles for 2013.
He regularly records and publishes iTunes podcasts via his channel Creative Real Estate.
His innovative low-risk, high-reward approach to Australian real estate investing has been featured in a variety of television programs and magazines, including Today Tonight, Hot Property and Australian Property Investor.
To register for one of Mr Otton’s free Australian one day seminars, visit HowToBuyAHouseForADollar.com.au or phone, in Australia, 1300 888 450.