Aussies have been using this kind of financing even before governments started giving out grants, so it’s just sensible to return to alternative solutions when traditional processes are making it hard for people to buy a property for sale.
(PRWEB) December 16, 2013
Shadow secretary, Michael Daley, revealed that 9802 grants from the NSW government’s New Home Grant Scheme were delivered to property investors and second home buyers, further locking out first home buyers from buying a house, (Sbs.com.au reported on 11 December 2013).
"What we’re seeing here is an interesting twist regarding the main purpose of home buyer grants. Originally, these programs were initiated to encourage more first home buyers to get houses, but it ended up helping people who already have enough cash on their hands to buy another house," according to Rick Otton, the author of the best-selling finance book How To Buy House For A Dollar, in a recent interview for his newly-launched Free Pack.
"With less financial subsidy for first home buyers, they end up getting locked out from their dream of home ownership," he explained further.
"Aside from that, there would be imbalanced growth in the property market if young people get stuck renting properties their whole lives," Mr. Otton added.
Mr. Otton then discussed that Aussies who have missed out on the chance to receive first home buyer grants can use creative strategies to help them into their own house without or without government subsidy.
"The secret is in creating flexible payment terms between the buyer and the seller. With this process, buyers get a bit more time to complete the payments on a real estate rather than force them to pay the whole price of a property for sale at once. But in exchange for a little bit patience, the sellers get to sell their property at the price they want," he said.
"Aussies have been using this kind of financing even before governments started giving out grants, so it’s just sensible to return to alternative solutions when traditional processes are making it hard for people to buy a property for sale," Mr. Otton explained.
You can discover more creative strategies for your property problems at http://www.creativerealestate.com.au/freepack/.
About Rick Otton
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.