A new Commbank survey revealed that 47 percent of 1000 home buyers have admitted to have bought or are currently planning to buy an investment property
(PRWEB) March 08, 2014
A new Commbank survey revealed that 47 percent of 1000 home buyers have admitted to have bought or are currently planning to buy an investment property (News.com.au reported on 27 February 2014).
The study also found that property investors choose properties based on their distance to key amenities and the value of their home loan repayments.
“This is what people do in a boom - invest, so I’m no longer surprised to hear stories about increased investor activity these days. Aussies are now gaining their interest with the real estate market again, since house prices just keep on jumping up every minute and they want a piece of the action,” commented Rick Otton, a sought after property coach around Australia.
“The downside of this, however, is that cash-rich investors get to have a much bigger slice of the real estate market, because traditional investing requires a lot of cash to buy property,” he said.
Mr. Otton then shared that cash-strapped property investors shouldn’t feel desperate about their chances of entering the property market, because there are other ways to buy houses for sale without spending a lot of cash.
“When you want to invest, but you don’t have the money demanded by the bank or traditional sellers, thinking creatively will help you enter the property market without waiting a long time to save up cash or even applying for a new home loan. In thinking creatively, you’ll open your mind to different possibilities and start to realize that there’s not just one way to enter the real estate market,” Mr. Otton commented.
“One of the most common ways of entering the market creatively is through piggybacking somebody else’s home loan. Now that the new Credit Act will take effect, expect banks to tighten their requirements for home loan applications, so less people can qualify for a loan. Rather than face the heartbreak of applying for new home loans, home buyers could look for old home loans that they could take over and help sellers, who no longer want their old debts, in the process,” he explained.
For more info on seller finance, visit http://creativerealestate.com.au/freepack/ to order a free copy of Rick Otton’s Power Property Profits Pack.
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.