Instead of living in a property for rent, you can use existing home loans to get a foothold on the property ladder
(PRWEB) January 11, 2014
The latest RP-Data Rismark findings found that median home values grew for the cities of Sydney, Perth, Melbourne, Brisbane, Canberra, Darwin, Adelaide and Hobart in 2013. Sydney led the pack with 14.5 percent growth, and Perth took second place with 9.9 percent, (News.com.au reported on 5 January 2013).
“This is good news for many sellers, but generation rent is not taking news so well as more of them will get locked out of their dream of becoming home owners because of the continuous increase of house prices,” according to Rick Otton, the author of the best-selling finance book How to Buy A House For A Dollar.
“Since the global financial crisis, more and more people have been struggling to save up enough cash for a home deposit for two reasons. Firstly, the banks have become stricter in approving new home loan applications, and, secondly, current salary rates just can’t keep up with the rising cost of living around the country,” Mr. Otton revealed in a recent interview for his recently launched Property Pack.
“With expenses coming in every month, every Aussie’s goal to save up for a future home is put in the back burner for more immediate concerns,” he added.
Mr. Otton, however, reminded “Generation Rent” in his interview that they shouldn’t let rising house prices or cost of living prevent them from achieving their dreams of homeownership.
“The traditional process of buying and selling houses have blinded us with the myth that in order to buy a house you have to pay a lot of money at the beginning of the deal. This is not true. You can still buy a house without paying a large amount of deposit if you create flexible payment terms between the buyer and seller,” he shared.
“This way, you don’t have to worry about paying dead rent money. Instead of living in a property for rent, you can use existing home loans to get a foothold on the property ladder,” Mr. Otton explained further.
Visit http://www.creativerealestate.com.au/freepack/ right now to jumpstart your career creative property investment this 2014.
About Rick Otton
For over 23 years property millionaire Rick Otton has built an impressive real estate portfolio using innovative strategies that he has developed – strategies in which transactions are made without the need for traditional bank-type loans.
He constantly refines his techniques as he buys and sells properties through his We Buy Houses business which operates in Australia, New Zealand and the UK.
A gifted speaker and educator, Mr Otton conducts regular one-day free seminars across Australia, which build on the the concepts he shares in his 2012 book ‘How To Buy A House For A Dollar’, voted by Money Magazine and Dymocks Book stores as one of the Top 10 Most Popular Finance Titles for 2013.
He regularly records and publishes iTunes podcasts via his channel Creative Real Estate.
His innovative low-risk, high-reward approach to Australian real estate investing has been featured in a variety of television programs and magazines, including Today Tonight, Hot Property and Australian Property Investor.
To register for one of Mr Otton’s free Australian one day seminars visit ReadySetBoom.com.au or phone, in Australia, 1300 888 450.