Mr Otton said that while he generally agreed with Sir Mervyn’s sentiments, he would go a step further by urging British property investors to strive to be independent of economic fluctuations and erratic decisions made by the government...
London, England (PRWEB) May 31, 2013
Property mastermind, Rick Otton, has cautioned British real estate investors to not limit themselves to traditional real estate investing techniques, but to continue to explore other options. His advice comes in the wake of comments from the outgoing governor of the Bank of England, Sir Mervyn King, who warned of the pitfalls of state-backed mortgage schemes.
Sir Mervyn described the Help To Buy scheme as economically risky and has the possibility to leave Britons exposed to billions of pounds in private mortgage debt for years to come.
Under the plan, due to run until 2017, the state will guarantee up to 15% of a mortgage on homes worth up to £600,000.
“We do not want what the United States have, which is a government-guaranteed mortgage market, and they are desperately trying to find a way out of that position,” Sir King told the BBC.
Commenting on the BBC interview, Mr Otton said that while he generally agreed with Sir Mervyn’s sentiments, he would go a step further by urging British property investors to strive to be independent of economic fluctuations and erratic decisions made by the government or the traditional banking sector.
“I have spent the past decade educating tens of thousands of home owners and property investors about my revolutionary but easy-to-copy ‘no-money-down’ real estate investing strategies,” the self-made real estate millionaire said.
“What this means is that investors or home owners don’t need to have access to a bank mortgage, equity from an existing property, stamp duty or a deposit to invest in property.
“My creative real estate strategies are particularly pertinent for British investors who are reeling from the continuing uncertainties of the housing market, and the waves of instability caused by the new government-backed housing scheme.”
For the past decade, Mr Otton has held property seminars and intensive workshops to share his creative techniques such as securing positive cashflow from a property portfolio from day one, rent-to-buy options and building growth and cash flow.
Due to popular demand, Mr Otton has released a limited number of early-bird tickets for his 2014 ultimate real estate bootcamp in the UK, the Zero-Debt Property Cashflow Conference.
Details of the conference, to which the public is invited, are available at http://www.RickOtton.co.uk or phone 0207 000 1027 (UK).
About Rick Otton
Rick Otton has spent decades making money by snapping up inexpensive real estate and putting it to work building wealth, and teaching others to do the same.
He is the founder and CEO of We Buy Houses, which operates in the US, UK, Australia and New Zealand, and through this business he puts his strategies to work every day.
Mr Otton received his start in alternative real estate investment in 1991 in the US, and within a year acquired 76 properties. In subsequent years, he made a fortune using his low-risk, high-reward strategies to inexpensively acquire real estate. He continues to do so.
As well Mr Otton travels between his home in Australia, and the UK, sharing his wisdom and teaching others how to buy and sell real estate, free from the constraints imposed by traditional lenders.
In 2013 Rick is celebrating the 10 year anniversary of introducing his property option strategies to real estate investors in the United Kingdom – the first person to reveal these ground-breaking strategies. In 2008 he created the first of his ‘Houses for a Pound’ strategies, upon which he grows as markets and laws evolve.
Mr Otton has been featured in a variety of television programs and magazines and in 2013 he published ‘How To Buy A House For A Dollar’ for the Australian market. This book has been named in the list of the Top 10 Most Popular Finance Titles for 2013, as voted by Money Magazine and Dymocks Book stores. A UK version is on the drawing board.
Details of special early bird pricing for his 2014 real estate investing conference, to which the public is invited, are available at http://www.RickOtton.co.uk or phone 0207 000 1027 (UK)