Rick Otton Concerned by High Mortgage Defaults in Victoria

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Real estate authority, Rick Otton, has expressed alarm at the number of Victorians who are defaulting on their mortgages. Mr Otton has announced he will host a Melbourne real estate event later this month in the wake of reports that show Victorian borrowers are having their homes repossessed at a rate of six per week.

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Live Property Investment Training Event with Rick Otton

All Australians should have the opportunity to own a home without being vulnerable to the threat of repossession – and I have strategies that will help them to do just that.

Real estate authority, Rick Otton, has announced that he will host a Melbourne property event on 26 October. The announcement reflects his concern that figures just released show alarming levels of Victorians defaulting on their mortgages, and having their homes repossessed at a rate of six per week.

According to figures from the Sheriff’s Office, there were 318 repossession warrants executed over the past financial year in Victoria, two more than in 2011/12.

While the figure is substantially lower than those recorded during the global financial crisis, it nevertheless indicates that historically low interest rate cuts have failed to make hefty mortgages more manageable for many Victorians.

Mr Otton, author of ‘How to Buy a House for a Dollar’, said it was not necessary for any Australian home owner or property investor to be at the mercy of employment conditions, the global environment or other changeable market factors.

"There should be a zero-tolerance approach to delinquency rates in Australia," Mr Otton said. "All Australians should have the opportunity to own a home without being vulnerable to the threat of repossession – and I have strategies that will help them to do just that."

Melbourne real estate event

Mr Otton said there was an obvious counter solution to mortgage defaults – to not over-commit financially in the first place. The real estate millionaire is renowned for his low-risk, high reward policies that allow people to invest in property with little or no deposit, no stamp duty or financing from banking lenders.

He has developed a raft of unique, non-conventional property investing strategies that he now teaches to students around the world.

"The beauty of my techniques is that while they may seem counter-intuitive, they are so simple that anyone can use them," Mr Otton said.

"The ultimate wealth summit I’ll be holding in Melbourne on 26 October will show participants an easy-to-copy, no-money-down formula to growth and positive cash flow from day one. These cutting-edge strategies are invaluable – and they are only a fraction of what I will reveal at the Melbourne real estate event."

Seating is strictly limited for the real estate educator’s training sessions, and placed are often filled weeks in advance. The sessions have a strong focus on demonstrations and case studies.

The Melbourne real estate event will take place on October 26, 2013. For full details of this event, and Mr Otton’s upcoming real estate events, visit HowToBuyAHouseForADollar.com.au or phone, in Australia 1300 888 450.

For general information about Mr Otton, visit http://www.RickOtton.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.

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