(PRWEB) January 20, 2014
CommSec economist Savanth Sebastian told reporters that the increased presence of expats and foreign investors buying real estate Australia will most likely push already high property prices even further, (News.brisbanetimes.com.au reported on 6 January 2014).
Sebastian added that the combination of low interest rates and a weaker local currency is attracting foreign investors to enter the Australia real estate market.
“The rapid increase of property prices in many capital cities since 2013 is making it more difficult for local investors expand their property portfolio. In addition, more aspiring home owners are also getting locked out, and news of another impending price hike would only push some people to completely give up their dream of homeownership,” commented Rick Otton, the author of the best-selling real estate book How To Buy A House For A Dollar.
“Regular Aussies feel that way because high property prices have made it very hard to save enough cash to pay for a deposit. And with more activity from Foreigners and expats, people will need to save even more as property prices increase” he explained further.
Mr. Otton said in a recent interview for his upcoming national tour "Ready, Set, Boom" that home buyers can still compete with foreign investors if they follow creative strategies when buying and selling houses.
“I’ve always taught my students that it’s not about the price, but how you pay the price that makes a house affordable. Using flexible payment terms, a buyer won’t necessarily need to come up with all the cash now to meet the seller’s asking price. What most people don’t realise is that many sellers are okay with flexible payment terms as long as they get the price they want. And the reason why buyers don’t know this is simply because never bothered to ask.”
“Aussies need a paradigm shift because you don’t need a large amount of cash to buy a house. And by having the right toolkits and asking the right questions, anyone can open up far more opportunities for themselves when investing in property” Mr. Otton added.
For more info on Mr. Otton’s upcoming brand new Property Training event, visit http://readysetboom.com.au/.
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.