Rick Otton Discusses Purchasing Property in Developing Suburbs

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Rick Otton, Australia’s leading real estate investment mentor, exposes the downside of property development for homebuyers at his real estate seminar on 27 October 2013.

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Australian Property Investor Rick Otton

...in the event that the development projects enhance a suburb’s environment creative strategies can help any buyer easily enter suburbs in transition through the help of flexible payment terms.

“Many experts are excited with the new real estate developments around Sydney hoping that it will boost property prices for suburbs near the projects, but for buyers, who can’t afford a large deposit, higher prices means an added obstacle to their dream of becoming home owners,” commented Rick Otton, the creative mind behind the best-selling finance book How To Buy A House For A Dollar.

A recent post from Real Estate View (21 October 2013) predicted that the Barangaroo Development, Anzac Parade, Paramatta Road Corridors and the north-west rail corridor will further inflate the already record-breaking prices of Sydney property.

“All buyers, whether they are first timers or investors, should first inspect the suburb where they want to buy Sydney real estate before they close the deal, so they can see for themselves if any government or private project will improve or degrade the quality of the area,” said Mr. Otton in a recent interview for his Sydney real estate seminar.

He shared that some of the things to look out for are accessibility to public transport and commercial areas; construction noise; increased traffic and pollution.

“Whether the changes are positive or not it will greatly impact the prices of the property for sale, but in the event that the development projects enhance a suburb’s environment creative strategies can help any buyer easily enter suburbs in transition through the help of flexible payment terms,” he added.

“Rather than applying for a new loan with the bank or waiting a long time just to save up enough cash for a deposit, buyers can strike a creative deal with the sellers which lets them use old home loans to buy a property for sale, instead of paying all of the cash to the seller at the beginning of the deal,” Mr. Otton explained.

“A great example of this is a strategy called the Sandwich Lease option. Under this strategy, buyers who are rejected by banks can use old home loans which the sellers already have on the property for sale; then they substitute the sellers in making the monthly payments to the banks,” he recommended.

Learn more strategies straight from Rick himself at the last live seminar of the year in Sydney on 27 October 2013.

Visit http://www.howtobuyahouseforadollar.com/ now to book your free seat to Mr. Otton’s Sydney property seminar.

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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