Rick Otton Advises Aussies To Use Creative Real Estate Strategies In Improving Property Value
(PRWEB) July 21, 2013 -- As a sneak peek into his upcoming seminar, Rick Otton, a Sydney property investment advocate, has shared a creative real estate process which is more effective than renovations in it comes to increasing a property’s value.
A news website found that, in the past six months, half of the 5,000 postings for renovation projects in an online bulletin board could be found in Sydney, and majority of the postings were for “value adding projects” in the kitchen, bathrooms, floors, and paint jobs.
“A lot people renovate because they believe that it is a great way to increase the value of a property, but that is far from reality. At the moment, banks are not approving new home loans and this makes it difficult to find people who will buy renovated properties even with a discounted price,” Mr. Otton commented on the report.
“Aside from that, the group of people who are willing to buy large houses are also shrinking. Young people are choosing to buy houses at a later age, and they don’t want to live in a big Sydney property anymore,” he added.
An alternative solution for the D-I-Y addicts, as Mr. Otton shared in an episode of his Creative Real Estate iTunes podcas t, is to change the financial structuring of a property transaction.
“One strategy that I always do is to buy houses which are out of condition, and invite somebody else to do the renovations in it. Then, after he finishes with the renovation and sells the property, we share the profits of the sale,” according to Mr. Otton. “With this process I am able to earn and improve the price of a real estate property without having to lift a paintbrush or hammer,” he said.
“This is also practical since most people who do renovations usually do it for the money that they get out of the transaction, and not because they like fixing things around the house,” Mr. Otton said.
Rick Otton will share more useful insights on Sydney real estate in his one-day seminar at Sydney on August 7. Visit HowToBuyAHouseForADollar.com now to get early seat reservations for the event.
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 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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