As a key industry body lobbies for home buyers’ grants to keep pace with increasing house prices, Australian real estate strategist and property millionaire, Rick Otton, has instead rallied to the cause of property investors. His mission – to help investors grappling to pull together deposits leap frog their way into the market.
Property research company BIS Shrapnel has called on the NSW Government to double its $15,000 first-home-buyers’ grant to match house price gains in Sydney, and address the so-called ‘deposit hurdle’ that keeps first-time buyers out of the market.
According to BIS Shrapnel associate director Kim Hawtrey, the problem of raising a deposit, typically 20 per cent of a property’s value, is a bigger cause of the falling proportion of first-home buyers in the housing market than overall house price affordability.
“As house prices have risen over the last couple of years, the goal posts keep shifting,” he said. “Young people … might have their $40,000 saved. Then you see prices go up 10 or 12 per cent and now they need $50,000 or $60,000.”
“Ready Set BOOM”
However, Rick Otton said with Australian real estate investors leading the charge in the property boom, it was essential they also received the appropriate support to thrive in current conditions.
“This means not relying on government or banking finance in the form of loans, mortgages or subsidies,” Rick Otton said.
“Is this possible? The radical answer is – yes, it is! How? By turning negatively geared properties into positive cash flow from day one, by learning how to build a property portfolio without needing new bank credit and by learning other non-traditional, but proven real estate investing strategies.”
Mr Otton said there was no reason for any investor to abandon their dreams of property ownership in the midst of competitive market conditions.
“About 20 years ago, I discovered a remarkable property investment system that allowed me to purchase 76 properties in 12 months. Since then, my students and I have used these techniques to profit throughout rising, falling and booming markets,” he said.
About Rick Otton:
For over 20 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, A Current Affair and Australian Property Investor.
To register for one of Mr Otton’s free Australian one day seminars Call in Australia, 1300 888 450.
Visit http://www.rickotton.com/ for more information.
Name: Rick Otton
Phone: 1300 888 450
Address: Suite 6/125 Oxford Street Bondi Junction NSW 2022