More people need to learn that renting and having a crushing mortgage are just two of many options. We need to spread the word about non-traditional property investment strategies like the buy to let mortgage and other lease options.
(PRWEB) September 19, 2013
During a recent interview, property investment mentor, Rick Otton, revealed that a report on the attitude of young people in the UK towards renting and buying property shows that many of them are avoiding the first step of the so-called “property ladder” entirely, and this is exactly why people need to learn about progressive property strategies.
A shift in property goals is clear in the report, with just three out of ten British young people under 35 working towards home ownership, compared to nine out of ten British people aged between 55 and 75.
Choosing uncertainty over a lifetime of debt
In 2011 to 2012, privately rented households in England were at 3.8 million, a 58 percent increase from 2005. Rent costs the average tenant 40 per cent of their income, and some two-thirds of renters have no safety net to cover their housing costs.
“Half of British adults under 35 years old live in a home that they don’t own, which to me says that half of young British adults have looked at the traditional bleak savings regime to get the traditional big deposit to sign up for the traditional lifetime mortgage, and they’ve said, “that’s not for me”. And fair enough, too,” said Mr Otton.
“But the answer doesn’t have to be staying in the rental market forever, with the insecurity that comes with that. There are other ways to move towards financial freedom. And I’ve made it my mission in life to teach people how to make the property ladder work for them,” added Mr Otton.
Not enough options
“Eight out of ten young people who rent haven’t been encouraged to sign up to the traditional property ladder by the government’s Help to Buy Scheme. To me, that shows that the initial premise is flawed. People don’t want a traditional bank loan, so a scheme to encourage them to get one just isn’t going to work,” said Mr Otton.
“More people need to learn that renting and having a crushing mortgage are just two of many options. We need to spread the word about non-traditional property investment strategies like the buy to let mortgage and other lease options. I’m doing that by making my property millionaire secrets available to everyone,” Mr Otton said.
Rick Otton’s special ‘Power Property Profits Pack’ is available at no charge to the public, for people looking for an alternative to the traditional property investment methods. To download the Power Property Profits Pack, visit 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 Mr Otton’s UK Zero-Debt Property Cashflow Conference can be found at RickOtton.co.uk or phone, in the UK, 0207 000 1027.