We’re seeing the basic law of supply and demand at play within the Brisbane CBD. Now that demand is tight for CBD properties, it’s normal to see prices shoot up.
(PRWEB) May 27, 2014
Demand for homes within 10 kilometres from Brisbane’s central business district is high right now. 31,770 houses were sold in the area from February 2012 – February 2013, while 6,300 more than the properties sold a year before that, The Australian reported on 24 May 2014.
As a result, countless homebuyers are struggling to get their offers approved, and those lucky enough to get approved pay thousands of dollars more than the asking price to do so.
“We’re seeing the basic law of supply and demand at play within the Brisbane CBD. Now that demand is tight for CBD properties, it’s normal to see prices shoot up. The drawback, however, is that buyers may end up placing themselves in a compromising financial situation if they only think about how to outbid other people trying to buy the same house they want,” according to Rick Otton, host of the highly anticipated Ready, Set, Boom national tour.
Mr. Otton then said in an interview for the second round of Ready, Set, Boom seminar tours that a more financially secure way of entering the real estate market is to use seller finance strategies.
“The traditional process of buying and selling houses usually leave people with a ton of debt. But when you start to think of creative solutions to your property problems, you can come up with a flexible payment structure such as seller finance terms that could allow you to invest in property without spending huge sums upfront, or taking out a new bank loan. This makes it more manageable for an investor to grow their property portfolio in a rising market and gear their investment towards positive cash flow,” he said.
You can listen to Rick Otton talk through his creative strategies live in Brisbane on 15 June 2014, Sunday, and 16 June 2014, Monday. Visit readysetboom.com.au to secure your free seat to the event.
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.
To register for one of Mr Otton’s free upcoming Australian seminars, visit ReadySetBoom.com.au or phone, in Australia, 1300 888 450.