It’s easier to get in and out of these properties when you are in the country where your property is located, but, it’s almost impossible and more expensive to take out your investment abroad if you’re living in another country.
(PRWEB) September 23, 2013
Rick Otton, the first property coach to teach creative strategies in the United Kingdom, tells the alarming secrets of buying a property for sale in other countries.
Moneycorp discovered that the number of 30-somethings who purchased a property for sale abroad jumped 25 percent between 2009 and 2012.
A news report from The Telegraph on 5 September 2013 confirmed that these people are first home buyers who are locked out of the housing market because of fast rising prices, that’s why they are now casting their nets to foreign countries like U.S., Spain, and Australia because of cheaper prices.
Mr. Otton, however, issues a warning to these buyers. “Before buying a property for sale abroad you must first ask if the property is really cheap to begin with or is it just the new retail price,” he said.
“There is a reason why people could get properties abroad for a very cheap price, especially in the U.S., and it’s because they are properties that can be found in suburbs, which have undergone a ‘white fly’,” according to Mr. Otton.
“This situation occurs when old residents of a suburb leave, because the value of their property has gone down so much, and in the process other demographics take over these abandoned neighbourhoods. Those who take over the suburbs, however, are often low income families or people who are usually connected with illegal activities,” Mr. Otton explained.
“It’s easier to get in and out of these properties when you are in the country where your property is located, but, it’s almost impossible and more expensive to take out your investment abroad if you’re living in another country,” he discussed further.
“To save yourself from the hassles of buying property for sale abroad you can, instead, buy and sell a property in the UK using creative methods even with high prices of houses right now,” Mr. Otton recommended.
“This is better than making overseas investments because you don’t need to save up for a deposit or even apply for a mortgage just to get in your very own property; what’s more, you don’t have to worry about losing your money from a property you haven’t seen or visited yet,” he added.
Visit http://www.rickotton.co.uk/ now to get a free copy of Rick Otton’s Power Property Profits Pack. The limited-edition pack is full of golden nuggets about Mr. Otton’s strategies and how you can use it to build a career in property.
About Rick Otton
Rick Otton, renowned property investment strategist, 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, a leading property enterprise in the international markets of Australia, United Kingdom, New Zealand and the USA.
Motivated by the “Savings and Loan Crisis”, Rick received his start in alternative real estate investment in 1991 in the USA. Within a year, he had acquired 76 properties and in subsequent years, he made a fortune using his low-risk, high-reward strategies to inexpensively acquire real estate. He continues to do so and shares this knowledge to those who are interested to learn.
Rick spends his time between Australia and the United Kingdom, sharing his wisdom and teaching others how to buy and sell real estate, free from the constraints imposed by traditional lenders.
In April 2013, Mr. Otton celebrated the 10th year anniversary of introducing creative real estate strategies in the UK during the Zero-Debt Property Cashflow Conference, which is held annually for people who are interested in learning more about Rick’s strategies. The 3-day conference covers all the topics discussed in How To Buy A House For A Pound and how it can be applied successfully in real life scenarios.
Rich 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. He has also recently announced the upcoming release of his book “How to Buy a House for a Pound”, which is a compendium of all the strategies a property investor needs to buy and sell houses easily in the UK without the need for traditional bank financing.
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.