(PRWEB) July 30, 2013
Author of How to Buy a House for a Dollar, Rick Otton, is known for his non-conventional property investing strategies. In a recent new episode of his regular Creative Real Estate podcast series, he shared some key tips on how to accumulate long term wealth with no financial capital.
Mr Otton said he had started out in the real estate game more than two decades ago as a pauper, but ended up a millionaire.
I had no money, so I used to run around to the people who had money. I would split half of everything I made with them, he said.
They controlled the property, but I organised the paperwork, the buying and the selling. The interesting thing was that I had nothing invested in anything. I had no money and no debt. What I did have was 100% of the learning curve. I liked the fact that I was getting all of the learning and none of the risk. After that, I had the skills I needed to keep all the profits for myself.
Solutions for negative equity
Mr Otton is renowned in Australia and overseas for hosting ultimate real estate bootcamps, intensive workshops and other events where he shares his property millionaire secrets on achieving growth and cash flow through property investing.
During the podcast, he also unveiled a strategy for investors to help the large numbers of Australian home owners struggling with negative equity.
What we have is a phenomenally high percentage of people who want to sell to get away from their debt. So at the end of the day, what this means is that it is hard to get new bank loans, but easy to get the bank loans that no one wants, Mr Otton said.
The property investment mentor said while his strategies were not difficult to master, they did require a leap away from old paradigms of thought.
You have to ask yourself, what is the quickest, fastest way to move a home debt or loan from a person who no longer wants it to a person who does? The answer is in transferring all the payment obligations as quickly as possible, Mr Otton said.
This strategy is played out in the corporate world. It was only two or three years ago, for example, that the ABC Learning Centres all went for a dollar. You can transfer something from one entity to the next for a dollar.
To hear this, and other free podcasts from Rick Otton visit CreativeRealEstate.com.au. Phone enquiries in Australia can be made on 1300 888 450.
About Rick Otton
Rick Otton has spent decades making money by snapping up inexpensive real estate and putting it to work building wealth, and teaching others to do the same.
He is the founder and CEO of We Buy Houses, which operates in the US, UK, Australia and New Zealand, and through this business he puts his strategies to work every day.
Mr Otton received his start in alternative real estate investment in 1991 in the US, and within a year acquired 76 properties. In subsequent years, he made a fortune using his low-risk, high-reward strategies to inexpensively acquire real estate. He continues to do so.
As well Mr Otton travels between his home in Australia, and the UK, sharing his wisdom and teaching others how to buy and sell real estate, free from the constraints imposed by traditional lenders.
In 2013 Rick is celebrating the 10 year anniversary of introducing his property option strategies to real estate investors in the United Kingdom the first person to reveal these ground-breaking strategies. In 2008 he created the first of his Houses for a Pound strategies, upon which he grows as markets and laws evolve.
Mr Otton has been featured in a variety of television programs and magazines and in 2013 he published How To Buy A House For A Dollar for the Australian market. This book has been named in the list of the Top 10 Most Popular Finance Titles for 2013, as voted by Money Magazine and Dymocks Book stores. A UK version is on the drawing board.
To hear this, and other free podcasts from Rick Otton visit CreativeRealEstate.com.au. Phone enquiries in Australia can be made on 1300 888 450.