Rick Otton, the man who brought creative real estate strategies to Australia, shares with Sydneysiders the secret in buying Sydney real estate, despite high property values right now.
RP Data and Rismark International index showed over 2 percent growth for residential property values in Sydney last month. Report authors added that home values in Australia?s capital cities have risen 8.7 percent from June 2012 to September 2013, according to a Property Wire news report published on 1 October 2013.
?High Sydney property prices and the strict approval of new home loans are two of the main reasons why many first home buyers are having a hard time getting a house of their own, and this rapid increase of the already expensive property values in capital cities only makes the situation even worse,? Mr. Otton said.
?For home buyers who are using the traditional process of buying and selling houses, this is the perfect time to throw in the towel because there?s no way you can you can get Sydney real estate without making high deposit payment in this system,? he shared in his latest interview.
?Those who use creative strategies, on the other hand, still have a lot of options left on their hands, despite the extreme prices of Sydney property right now. This is possible with the help of flexible payment terms which are in the heart of every creative strategy I teach,? according to Mr. Otton.
Mr. Otton then showed how flexible payment terms in instalment contracts help home buyers get Sydney real estate without paying high amounts of deposit.
?Instead of paying the seller everything at once, instalment contracts simply allow a buyer to pay the value of a property for sale within a certain number of years, but in exchange for that he will have to pay the seller a little bit more of the property?s original value,? Mr. Otton said.
?The 10:10, a variation of instalment contracts, for example directs buyers to pay the seller 10 percent more, so that he can finish his payments within 10 years. This is a great deal for sellers, since they get more out of their property in exchange for a little patience,? he discussed.
?Home buyers should never let the high cost of Sydney real estate stop them from reaching for their dream of home ownership. They should, instead, start applying creative solutions so they won?t be faced with a dead end in any property problem the modern world throws at them,? he explained further.
Rick Otton would be visiting Sydney on 12 October 2013 to talk about his creative real estate strategies free of charge.
Grab this chance to see Rick Otton in-action for the last time this 2013, so sign up now for a seat to his Sydney real estate event at http://www.howtobuyahouseforadollar.com/.
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