Right now people need to pay a lot of cash to buy property for sale around the country. This practice has become impractical for many who don’t have that extra amount of cash lying around their house to afford a large deposit.
(PRWEB) June 02, 2014
The Housing Industry Association revealed that new home sales were up 2.9 percent last April.
On a micro level, sales for detached houses for sale rose 1.8 percent while multi-unit home sales jumped by 9.3 percent.
“The increased sales of new houses is a big boost to the national economy, and it shows just how much interest there is to own a home. But, unfortunately, the old process makes it hard for a lot of people to make home ownership a reality,” according to Rick Otton, the host of the Creative Real Estate Podcast Show.
“Right now people need to pay a lot of cash to buy property for sale around the country. This practice has become impractical for many who don’t have that extra amount of cash lying around their house to afford a large deposit, especially after the global financial crisis,” he explained.
Mr. Otton said that Aussies don’t have to save up a large amount of cash to buy new homes, they only need an open mind to think creatively and the willingness to take action.
“It’s important for people to understand that there is more than one way to buy a house other than taking out a new bank loan. If you are able to move past the norm and consider other methods, then you’ll be opening up far more options than you thought possible,” Mr. Otton said.
“One way to buy homes creatively is through seller financing. This way buyers won’t have to save up a long time just to come up with the deposit fee required, and sellers get to sell their houses fast, because when it’s easy to buy it becomes easy to sell,” he added. “For instance, rather than take out a new bank loan, the buyer may negotiate to assume the existing financing and pay the remaining equity in increments. The flexibility makes it more convenient for the buyer to make the purchase. At the same time, a seller will be able to move away from unwanted debt much more quickly,” Rick added.
To learn more about creative real estate strategies, you can tune in to Rick Otton's weekly podcast "The Creative Real Estate Show" at http://www.creativerealestate.com.au/. All past episodes and transcripts are available in the site.
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 workshops 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.