Rick Otton Strives to Boost Local Investments with Basic Tips on Commercial Properties
(PRWEB) July 12, 2013 -- Alarmed with the increasing presence of foreign investments in the country, Rick Otton, author of How To Buy A House For A Dollar, encourages Aussies to take interest in commercial property investments to balance the number of local and foreign ownership of real estate properties in Australia.
The Chinese reportedly invested $201 million for various commercial property projects in Australia from January to April of 2013, and Mr. Otton believes that if this trend continues "Aussies would be at the mercy of foreign landlords in no time."
To influence more Aussies in getting commercial properties, Mr. Otton discussed that topic in one of his Creative Real Estate iTunes podcast and he shared that "the only thing that scares people from going into commercial property is their lack of knowledge."
Mr. Otton defined commercial property as "any place or location which you can run a business in under the correct zoning." "Ideally, it brings together small businesses such as salons, bakeries, or cafés in an accessible location," he added.
"Contrary to what many Aussies believe, they don’t need millions of dollars to get commercial property. In Sydney, for example, anyone can buy a good commercial space for just around $250,000," he went on to explain.
"There are four things that every investor should ask when getting commercial properties: how long is the lease, how much rent does the tenants in the building pay, is the property adaptable, and is it capable of bringing positive cash flow," Mr. Otton said during the podcast.
"Many baby boomers have also discovered that investing in commercial property is better than keeping negatively geared properties because it offers them a bit of security and rental income," according to Mr. Otton.
"Without foreign investments, the real estate market wouldn’t have been able to make gains in the last few years, but this doesn’t mean that locals should be alienated from the chance to make money out of our country’s own resources," Mr. Otton shared.
You can download episodes of Rick Otton’s iTunes podcasts discussing various property investment secrets for Aussies at http://www.creativerealestate.com.au/.
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.
For full details of Mr Otton’s upcoming ‘How to Buy a House for a Dollar’ seminars in major cities across the nation, visit HowToBuyAHouseForADollar.com.au or phone, in Australia 1300 888 450.
For general information about Mr Otton, visit http://www.RickOtton.com.
Jane Otton, rickotton.com, http://www.rickotton.com, 0-207-000-1027, [email protected]
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