One of the most incredible things about my unique property investing strategies is that people can purchase and sell properties without going through a bank, that transactions can be made quickly within weeks rather than months...
(PRWEB) November 07, 2013
Real estate authority, Rick Otton, has added a fresh voice to the property debate by revealing that wealth can be gained from investing in rural properties. During a recent Creative Real Estate podcast on the theme of ‘Street Smart Secrets to Real Estate Wealth’, Mr Otton debunked the myth that urban areas are the key property investment hotspots.
During the podcast, Mr Otton said that while banks were often reluctant to approve mortgages on larger rural properties, alternative solutions existed that did not depend on bank financing.
“One of the most incredible things about my unique property investing strategies is that people can purchase and sell properties without going through a bank, that transactions can be made quickly within weeks rather than months, and all parties experience a win-win situation,” he said.
“As part of my personal mission to help as many Australians as possible achieve their dreams of home ownership, I regularly hold real estate investment courses in regional areas and cities, where I share these secrets. We’re finding that increasing numbers of people in country areas are excited to hear about my strategies.”
Property investment mentor
During the podcast, Jenny, a Queensland-based student of Mr Otton, shared her experiences of specialising in the rural property niche.
“I just picked up a lovely little old Queensland colonial, eight acres, on a rent-to-buy contract,” she explained.
“I don’t have to pay stamp duty and I don’t have to worry about all the associated headaches that go with actually owning a property," she continued. "What happened was the owner couldn’t sell it. He had it on the market for 12 months, so he was upside down in his loan and owed more on the place than what it was worth.”
Jenny said that by using Mr Otton’s property investing strategies, she offered to partner with the seller to find a buyer who would take over his mortgage repayments. In return, she would make $10,000 upfront and $10,000 at the back end – without investing any of her own capital.
Mr Otton said this option of taking the problem off the seller’s hands, without the burden of agent fees, was a blessing for everyone involved.
“I tell you what’s very interesting. Sometimes if you go to the bank and you want to get out for less than what your debt is, the banks will just say ‘no’,” he said. “Then you’re stuck making a payment on a house that you no longer want but the banks won’t let you sell it because they want their debt back.”
To hear this, and other free podcasts from Rick Otton visit CreativeRealEstate.com.au.
About Rick Otton (for CreativeRealEstate Podcasts)
Australian property investment specialist, Rick Otton, has been developing, sharing and teaching his innovative real estate strategies for 23 years. As the founder and CEO of We Buy Houses, which operates in the US, UK, Australia and New Zealand he is known for introducing cutting-edge techniques that have enabled previously disenfranchised people to get out of the rental cycle and into their own homes.
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. His real estate book, published in 2012,‘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.
As well as conducting free seminars, workshops and conferences in the UK and Australia, Mr Otton releases a weekly podcast on iTunes, Creative Real Estate. In these he shares examples of real transactions, and you can listen to his students share their own experiences using his strategies.
Go to CreativeRealEstate.com.au to listen to Rick’s free podcasts.