Rick Otton

(PRWEB) April 11, 2012

Owning a house is every Australian’s dream, both young and old. A recent survey has shown that most of Australia’s youth are eager to enter the property market, but are being hindered by the strict banking requirements and hefty deposit. That is why creative property options like the strategies introduced by Rick Otton, a successful property guru, are rapidly seemly prevalent in the real estate market.

Mr. Otton has shown that owning a dream home tinned be achieved using his property investment strategies, with little or no cash, and no intervention from the banks. He has travelled to the USA, UK and New Zealand to teach his students how to purchase and holding properties using his techniques.

“Most of my students belong to the younger generation, and they sure are enthusiastic in learning the ropes of the real estate industry,” shared Mr. Otton.

The survey was done for LJ Hooker Finance participated in by 1017 people and the result revealed that thirty percent of the people surveyed considers property as a good investment but are being held back by the idea of saving for a large deposit.

“It is a fact that most of the younger generation are not yet financially stable and are wary of having financial commitment,” Rick Otton said.

“Prospective homeowners and aspiring investors are usually intimidated by the huge deposit they will have to pay for the property. That’s where my rent to buy strategies comes in. You see, I’ve been teaching people, for more than twenty years now, how to buy houses with no deposit,” he continued.

Mr. Otton believes that it is difficult for people, regardless of age, to save up for a deposit due to the worsening economic climate. “I have formulated my strategies under the same condition so I understand where people are coming from. I want to teach people, especially the young ones, how to do what I have accomplished. They have the most potential in the property market because they are full of enthusiasm and fresh ideas,’ he said.

Rick Otton shares his strategies through his trainings, real estate seminars and the 3-day Bootcamp. He has also launched a website recently, http://www.creativerealestate.com.au , which serves as a free resource for people who want to discover creative property options. The free website includes articles and podcasts on innovative real estate.

For more information on Mr. Otton’s strategies, you can go to http://www.creativerealestate.com.au

About Rick Otton

Rick Otton is an original pioneer of creative property strategies. He is founder and CEO of We Buy Houses, a leading property enterprise which operates in the property markets of the United Kingdom, New Zealand, USA and Australia.

In 1991 he uncovered an innovative strategy of buying and selling real estate and went on to amass a portfolio of 76 properties in his first twelve months of active investing.

Since 2001, Rick has taught over 30,000 students to buy, sell and trade residential property without banks, debt or risk. By employing these same strategies many of Rick’s students have made over a million dollars a year in cash and equity, using little or none of their own money, year after year.

In 2008 Rick revealed his strategies in the United Kingdom and became the creator of ‘Houses for a Pound’.

He has appeared in the following Australian TV programmes: 2004 ABC documentary ‘Reality Bites’ and on Today Tonight, Insight and A Current Affair. In October 2007 Rick gave a way a house on national TV during 2 episodes of Channel 9’s Hot Property.

Rick Otton has also been featured in Your Property Network, Australian Property Investor, Lifestyle Trader Magazines and in the books: The Secrets of Property Millionaires Exposed!, Ideas: Original Perspectives On Life and Business From Leading Thinkers, Think and Grow Rich in Property, Insider Property Secrets, and Walking With The Wise.

Rick Otton can be contacted via his website http://www.creativerealestate.com.au

Attachments

©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Related Home Equity Loans Press Releases

Richard J. Eskow, Campaign for America’s Future, joins Thom Hartmann. Turning our attention now to the ongoing bankster-fueled housing crisis. In the second quarter of this year – mortgage delinquencies increased – as now close to 10% of all homeowners are on the verge of being foreclosed on – a sign that the housing crisis beginning in 2007 is nowhere near resolved after four years. What has been resolved though? The Wall Street money-making machine. As more records from the Federal Reserve go public – we’re learning that the 2008 bailout of Wall Street – known as “TARP” – was just the tip of the iceberg in public funds going to the banksters. In December of 2008 – the Fed secretly gave more than .2 trillion in virtually interest-free loans to big banks like Morgan Stanley – Citigroup – and Bank of America. That’s .2 trillion! Which – coincidentally – is about how much it would cost to save 6-and-a-half million homeowners who are delinquent on their mortgages and facing foreclosure. In other words – a clear choice was made in 2008 to help banksters or help bilked homeowners – and the Fed chose the banksters. So today – it’s no wonder that banksters are doing just fine again – with 5 of the six largest banks in America reporting soaring profits – like JP Morgan Chase’s 13% profit increase – and Wells Fargo’s 29% profit increase. Meanwhile – millions of Americans are still being kicked out of their homes – and Republicans refuse to sign on to any sort of relief to help …
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Article by Gary Carraghan

If used properly, there may not be a more effectual financial option a homeowner can exercise than to take a second mortgage on their property. More and more American consumers have become aware of revolving debt and the implications it can have on them and their loved one – not but now but in the future.

Second mortgages can be used for practically anything, but they are nearly typically pay for outstanding education expenses, repairs of your home or property, to procure higher value real estate, and to pay cancelled high interest rate credit cards as well as to consolidate or eliminate other debts.

Naturally, it wouldn’t be fiscally sound to take out a second mortgage if it would not be in your best interest as a homeowner. With so many refinancing, borrowing, and other transaction options available to the modern consumer, when is taking out a second mortgage the right way to go? A second mortgage is a good choice for the homeowner who has a need for a substantial amount of cash and also has sufficient equity in a home.

Essentially, a second mortgage is a second lien against the value of the property, one which is paid back in monthly installments exactly the same as was the case with your first mortgage. Unlike the interest on unsecured loans and credit cards, second mortgage interest is generally tax deductible, and is therefore a viable solution to rid yourself of high interest rates which is often associated with other forms of debt.

An often overlooked nuance of obtaining a second mortgage is the very equal due process which was involved in the first. All too often homeowners will take out seconds from the equivalent financial institution used to obtain the initial mortgage. This stands to reason, as the mere thought of mortgaging your home once is overwhelming enough for a surprising amount of individuals who might otherwise benefit from the act to avoid it altogether. A second mortgage, though, is an identical significant financial decision (just as, if not more important than the first) and should be treated with the same diligence and research as the first. Obtaining information through several lenders or brokers on the second mortgage regarding residential mortgage loans such as; how much can you afford, as well as ascertaining how much of a down payment you will need, and find out all the cost involved in the loan is as vital to the process the second time around as it is the foremost. Simply seeing the monthly payment or the interest rate on the lien itself is not enough. Knowing information about the same loan amount, loan term, and type of loan will allow you to compare the information from each lender and broker.

Do your homework; get a hold of the current mortgage rates and understand whether the rates are being quoted the lowest for that day or week. Question whether the rate is fixed or adjustable, keeping in mind all the while that interest rates for adjustable-rate lend go up, which will also make the monthly payment go up. If the rate is quoted for an adjustable-rate lend, determine how your rate payment will vary. Again, these factors are as important during the process of obtaining a second mortgage as they are during the first.

You might find that in considering a second mortgage, your financial situation would also lend itself to potentially refinancing a portion or even all of your existing debt. While serving essentially the same purpose as a refinance, a second mortgage can oftentimes be a more efficient and, ultimately inexpensive consolidation option. Of first and foremost concern to most with enough debt to consider a second mortgage on their home to pay off debt, a second mortgage enables you to eliminate high interest debt much more quickly than would be possible with a refinance alone.

The principle advantage of taking a second mortgage is its ability to allow the accomplishment of a specific goal, including but not limited to a reduction in the amount of interest being paid on credit cards (the principle reason homeowners choose a second mortgage as their most effective and efficient consolidation option). If the lien has a shorter pay-off term, the homeowner tin look forward to one payment when the second mortgage is paid away. Once the decision is made that the goal is worth the investment, homeowners should shop for the right second mortgage lender, making sure that the one they select is reputable, responsive to their specific needs, and willing to discuss all of the costs up look. Keep in mind that these decisions have serious implications on your credit and foreseeable financial future. If your payments remain regular you’ll alleviate most of the interest ratting pertaining to the loan and raise your credit rating.

Unfortunately, second mortgages are far from federalized; they vary widely from state to state and private institution to institution. Nearly as important to performing veritable due diligence in observing and researching companies which you might do business with in obtaining a second mortgage is to ascertain the nature of state laws which may or may not limit the capabilities and rights you have as a consumer. In some states, for example, second mortgages do not require borrowers to have equity in their home and many new loans are available up to 125% of value of the security in question (of your home). Many consumers have also found these loans useful for paying off their billing, making home improvements, and taking out funds from the loan for personal use. In other areas, such policies are not possible. Ignorance of a state’s laws or financial regulations may not be used as an excuse and will not protect you from excessive obligations or pitfalls which may result from problems which arise down the road.

A second mortgage is more often than not the best option available for homeowners with large amounts of unsecured debt. Realizing the nuances of the mortgage process can not only help you to evade some of the problems you may have encountered during acquiring your first mortgage, but use the process to benefit you financially in the yearn run.

About the Author

Gary Carraghan is a successful author and regular contributor to http://www.super-mortgages.com who provides money-saving tips on mortgages. More information on home mortgages can be found at http://www.super-mortgages.com/Residential-Mortgage-Loans.html. Webmasters: Above hyperlinks must be kept intact.

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Property Investment Strategies, Rick Otton

(PRWEB) April 10, 2012

Finance experts consider unemployment as the most powerful sign of an impending recession.

That is why UK economists are bothered by the recent study made by the International Labour Organization (ILO) which showed evident deceleration in the economic activity of the country due to the increase in the unemployment rate. Many experts fear that this dilemma will surely lead to UK’s secondly recession. Even property expert Rick Otton warns that the declining economy will lead to property price cuts.

“It’s actually a snowball effect. A weak economy is characterized by an increase in unemployment. With more people getting laid off, the lesser the buying power. Now sellers are forced to cut prices just to accommodate the few qualified buyers,” Mr. Otton said.

The report said that the growth in the unemployment rate is affecting the whole Eurozone, including advanced economies like Spain, UK and Germany. The report also forecasted the joblessness to increase up to 9pc next year, which is the highest record so far.

“A lot of people are either losing their job or getting wage cuts. If this problem continues and the government doesn’t do something about this, this uncertainty in the cheat market will surely drag down prices of properties for sale,” he said.

Mr. Otton also added that with the job market in a sensitive state, the banks will be less willing to lend money for purchasing property.

“One of the main aspects the bank looks into when it comes to loan is job security. So it’s hard to acquire loans today because of the unstable job market. How can you pay if you’re not employed? This is the reason why investors and home buyers are looking into the possibilities of creative real estate,” Mr. Otton explained.

“My strategies have helped a lot of people become successful in the property market through alternative lease options,” he said. Mr. Otton has been teaching his students—more than 30,000 to this day, how to purchase properties with no banks loans and with as little cash as possible.

Rick Otton shares his strategies by travelling to different countries and conducting real estate seminars where he explains each investment technique through examples and actual deals. The students also get to interact and share experiences among themselves, which is a very efficacious teaching method.

“This is a good opportunity for the youth, especially the unemployed, to gain financial freedom in the midst of our weak economic conditions. Unemployment is forecasted to rise in the coming years and it would be a good chance to start a career in real estate investment,” he added.

You can access Rick Otton’s strategy at : http://www.rickotton.co.uk/

About Rick Otton

Rick Otton is an original pioneer of creative property strategies. He is founder and CEO of We Buy Houses, a leading property enterprise which operates in the property markets of the United Kingdom, New Zealand, USA and Australia.

In 1991 he uncovered an innovative strategy of buying and selling real estate and went on to amass a portfolio of 76 properties in his first twelve months of active investing.

Since 2001, Rick has taught over 30,000 students to buy, sell and trade residential property without banks, debt or risk. By employing these same strategies many of Rick’s students have made over a million dollars a year in cash and equity, using little or none of their own money, year after year.

In 2008 Rick revealed his strategies in the United Kingdom and became the creator of ‘Houses for a Pound’.

He has appeared in the following Australian TV programs: 2004 ABC documentary ‘Reality Bites’ and on Today Tonight, Insight and A Current Affair. In October 2007 Rick gave a way a house on national TV during 2 episodes of Channel 9’s Hot Property.

Rick Otton has also been featured in Your Property Network, Australian Property Investor, Lifestyle Trader Magazines and in the books: The Secrets of Property Millionaires Exposed!, Ideas: Original Perspectives On Life and Business From Leading Thinkers, Think and Grow Rich in Property, Insider Property Secrets, and Walking With The Wise.

Mr.Otton can be contacted through his website http://www.rickotton.co.uk

Attachments

©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

More Home Equity Loans Press Releases

Answer by goddessusie
They are the same thing. The language has changed to make selling and having 2nd mortgages more “acceptable.”

Know better? Leave your own answer in the comments!

Buying away the plan can take more harm than full

(PRWEB) April 10, 2012

Rick Otton is known internationally as an innovator and has been widely applauded for his creative property investment strategies. In a recent podcast, Mr. Otton revealed the pitfalls of buying “off the plan” and the possible remedies for the problems associated with this strategy.

Buying off the plan is a common practice in the property market where homeowners or investors buy a property when the development is still in the planning stage and has not yet been constructed. This is unfavorable for the purchasers, according to Mr. Otton, because they cannot accurately estimate the actual state of the property market by the time of project completion.

“Most often than not, the property depreciates in value as time passes by, and the buyer goes into negative equity. They usually borrow the full amount to buy off the plan but the property’s worth is lesser than the amount they borrowed. The property then becomes negatively-geared,” explained Mr. Otton.

This practice is a common trend in modern real estate investment and has its benefits, like cheaper price, according to Mr. Otton. However, this advantage comes from the fact that this strategy carries huge risks and problems depending on a lot of factors, including the type and location of the development, Mr. Otton said.

“Our case study shows that investors, who buy properties off the plan, wish to gain profit by reselling the property after completion, hoping that its value would’ve increased by that time. But with the current economic downturn, investors discover that the property has devaluated, and they are left with a property that has more debt in it than what it’s worth,” Mr. Otton revealed.

Creative Strategies Saving the Day

Mr. Otton’s podcast also reveals some secrets in real estate investment which most traditional lenders wouldn’t want people to know about. But Mr. Otton believes that embracing rent to buy strategies is the answer for those who want to enter the property market.

Rick Otton is known for his introduction of creative property options which can be applied especially during difficult economic times. He travels to different countries and teaches students through his bootcamp and real estate training. These strategies are also available on his website CeativerealEstate.com through podcasts.

You can listen to the free podcasts on http://www.creativerealestate.com.au

About CreativeRealEstate.com

Creative Real Estate is a series of free Podcasts hosted by Rick Otton and accompanied by his side-kick student Ben Chislett. Its goal is to revolutionize the way any first home buyer or property investor buy and sell property and empower where the traditional real estate system has failed even if you don’t have a deposit, bank finance, the house prices are too high or you have no property knowledge at all.

About Rick Otton

Rick Otton is a self-made multi-millionaire and real estate consumer advocate, property investor and business owner.

He is the founder and director of We Buy Houses Pty Ltd, a leading property enterprise which has successfully expanded into the international marketed of Australia, United Kingdom, New Zealand and USA.

In 1991, Rick Otton uncovered an innovative strategy of buying and selling real estate and travelling on to amass a portfolio of 76 properties in his first 12 months of investing. Rick buys, sells and trades property, using little or none of his had money, and structures transactions to create positive cash flux.

Since 2001, Rick has taught nationally and internationally over 35,000 students how to buy, sell and trade residential property without getting bank loans or acquiring debt, using little cash and minimizing risk.

Many of Rick’s students have been able to create wealth, buy their first home, restructure a negatively geared property to make it cash flux positive and build their property portfolio year after year.

Rick’s mission is to transform the way people buy and clearing property – to empower others with the knowledge there is another way. He regularly meets with leading government officials who seek his advice on solved the housing affordability crisis.

His philosophy has been highlighted in various Australian TV shows. He appeared in the ABC documental ‘Reality Bites’ as well as ‘Today Tonight’ and ‘Hot Property’.

Rick has also been profiled in numerous national and international magazines and books as he shows everyday people how to create wealth in real estate, without bank loans or saving large deposits.

Learn more about Rick at http://www.creativerealestate.com.au

Attachments

©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Answer by David Z
yes the 2nd mortgage holder can. There is an acceleration clause in the loan you signed that allows it once you are late a payment.

Add your own answer in the comments!

Texas Mortgage Info: How your mortgage person structures your loan is more important than the getting a low rate. www.mylendingplace.com
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Kevin Miller, CEO TexasLending.com

(PRWEB) March 24, 2012

Kevin Miller, CEO and president of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas home equity loans, and his co-hosts will discuss new home sales and an update on the Dodd-Frank Act on The TexasLending.com Mortgage Hour on KLIF radio in Dallas on Saturday March 24th, 2012. New Home Sales for February fell for a 2d straight month. They will cover how this will affect the home buying market as well as how the Dodd–Frank Wall Street Reform and Consumer Protection Act will challenge consumers in a rising rate environment.

In Dallas/Fort Worth the TexasLending.com Mortgage Hour radio show airs on Saturdays on AM 570 KLIF from 1:00 p.m. to 2:00 p.m.

“A recent rise in rates will be reversing down because the home buying market is continuing to struggle. This means low rates should continue for some time and home values should remain low. That makes now the time to bake in your gains with a home purchase before it really does get better. When it gets better homes will cost more and rates will be higher” commented Kevin Miller.

TexasLending.com has been on the air for over 10 years to educate the consumer about home loans in Texas. Listen in each week as the CEO of TexasLending.com, Kevin Miller, and his co-hosts, discuss the behind the scenes information about the mortgage industry that will help you in making an informed decision about your home loan now and in the future.

About TexasLending.com:
TexasLending.com (NMLS # 137773) provides expert service in the field of residential mortgage. Headquartered in Dallas, TexasLending.com specializes in loans throughout the states of Texas, Oklahoma, Florida, Missouri and Colorado. TexasLending.com is a mortgage Banker with virtually unlimited options available for conventional, FHA, VA, Texas home equity loans, refinance loans, reverse mortgages, Dallas home loans, Houston home loans and Austin home loans. To find out more about Texas Lending’s home loan and bonding programs, visit http://www.TexasLending.com.

©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

More Second Mortgage Press Releases

Lending figures in the coming months are likely to remain below last year when activity was buoyed by the end of the stamp duty holiday, the Council of Mortgage Lenders (CML) said on Monday. “We face the prospect of a difficult second half of the year,” said Bob Pannell, chief economist of the CML.