All of this is good for the property market, but the big question remains: is there going to be enough money from the banks to lend to all the loan applicants in the country,
(PRWEB) October 12, 2013
“It is always good news to learn that people are excited to buy property for sale, but the problem is that there’s not enough money with the banks to meet this high demand,” said Rick Otton, the man who first taught creative real estate strategies in Australia.
Online searches for home loans climbed to 3.6 million this month because of the growing positivity for the housing market, according to a report from Realestate.com.au on 6 October 2013.
“The end of election period has contributed a great deal in making people think more positively about the economy in general. With greater positive sentiment means there are more buyers out there,” according to Mr. Otton in a new interview.
“All of this is good for the property market, but the big question remains: is there going to be enough money from the banks to lend to all the loan applicants in the country,” Mr. Otton asked.
Mr. Otton then confirmed that there has been less money for lenders after the global financial crisis, so despite the high demand for houses buyers would still have a hard time getting a house of their own.
“Under the traditional process, those who can’t get a new home loan will never get their shot to become homeowners without the help of banks, but all of these changed when I introduced creative real estate strategies in Australia,” he said.
“With these creative solutions anyone can buy a property for sale even without saving up and paying a large amount of deposit or apply for a new home loan with the banks, because the process allows people to buy under for flexible payment terms, instead of demanding buyers to pay the price of the house all at once,” Mr. Otton shared.
“A great example of these strategies is the sandwich lease option. This strategy helps sellers, who are having a hard time paying their loans, connect with buyers who can’t get a new loan for a house, so that the new buyers will take over the seller’s payment for his old loan,” he explained.
Mr. Otton added that buyers should become more creative in thinking of solutions to get home loans, especially after the global financial crisis proved that old process wouldn't solve modern real estate problems anymore.
You can learn more creative strategies straight from Rick Otton in his upcoming Brisbane real estate event on 13 October 2013. You can sign up for this free event 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.