(PRWEB) September 16, 2013
Rick Otton, creative real estate strategist, warns home buyers and investors to get away from renovation projects in response to a report published by The Daily Telegraph on 31 August 2013 that a growing number of Sydneysiders are buying “hot horror homes” for their property investment portfolio.
In the news article, a real estate agent shared that many of the buyers are interested to renovate these “rundown dumps” because of their low prices and high potential to earn its builders a lot of money after a successful renovation.
“Many people are attracted to renovate houses for sale because they make it look so easy in television shows, but in reality many renovators have a hard time putting a house together with just basic handyman skills,” according to Mr. Otton.
“A lot of renovators suffer through manual labour, such as holding up ceilings and pulling out tiles and carpets. Do-it-yourself projects also go over budget most of the time, and they don’t finish according to schedule,” he went on to explain.
“Some of my students shared that when they did renovations on a property for sale, they all reached the point where they ask themselves ‘is there an easier way to earn with property’,” he added.
Rick shares that the ‘Handyman Special’, which he first introduced in his bestselling book - How To Buy A House For A Dollar - can help struggling renovators out of this situation.
“Let’s say the deposit for a house for sale is at $30,000, but the buyer doesn’t have enough money or he can’t get a home loan; with the ‘handyman special’ he can perform fix-up ups on the property worth $30,000 and when the project is complete the deposit is considered paid,” Mr. Otton explained.
“Under this set-up a transaction engineer earns when the buyer sells the renovated property for a higher price. The buyer, usually, gets more profit out of the deal, but it only means that I had more free time to profit elsewhere,” he said.
Learn more about the Handyman Special and Rick Otton’s other creative real estate strategies by downloading his Power Property Profits Pack absolutely free! Just visit http://www.howtobuyahouseforadollar.com to get a head start in building wealth through property investment.
About Rick Otton
Rick Otton is a renowned property investor and the pioneer in creative real estate investing. He is responsible for sharing creative real estate strategies used in buying and selling houses, which are in negative equity, with over 30,000 people – a number that continues to grow as he expands his reach in Australia, United Kingdom and the USA.
The Savings and Loans crisis motivated Rick to get his start in alternative real estate investments in 1991. With the help of his wife, Jane, he put his low-risk, high-reward strategies in inexpensively acquiring real estate to acquire over 76 properties in less than a year. This allowed him to make a fortune in real estate investing and inspired him to share these strategies to those who are willing to learn.
The success of his creative real estate strategies prompted him to start his own real estate company, We Buy Houses Pty Ltd, where he currently holds the title of Chief Executive Officer. The company has become a leading real estate enterprise which operates in Australia, New Zealand, United Kingdom and the USA.
In 2012, Rick achieved his life-long dream of publishing his his own book – How To Buy A House for A Dollar. It is a compendium of Rick’s tried and tested strategies, which a property investor needs to buy and sell houses easily without the need for traditional banking.
Having poured his passion into each page of his book, it is no surprise that How To Buy A House For A Dollar received critical acclaim in Australia; making it to the list of Top 10 Most Popular Finance Title for 2013 as voted by Money Magazine and Dymocks Book stores.
Rick continues to share his creative real estate strategies through his Creative Real Estate iTunes podcast, which is now the #1 Real Estate Pocast in Australia and has just announced the launch of his upcoming book How to Buy a House for a Pound for the UK market.
He is currently focused on reaching out to more people by sharing these creative real estate strategies by conducting one-day seminars free of charge around Australia discussing strategies contained in the book. The How To Buy A House For A Dollar One Day Live Event brings together seasoned experts of creative strategies with new students for an interactive discussion of the book’s contents.
You can also visit http://www.rickotton.com/ for details about Rick Otton.