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Rick Otton Revealed Benefits of Rent To Buy Lease Options And Instalment Contracts On Podcast
Rick Otton, respected real estate millionaire, advised investors to determine the purpose of their purchase before deciding on whether to use rent to buy or instalment contracts in order to maximize the profits of a transaction.
During the broadcast, Mr. Otton discussed that rent to buy deals are favourable for transactions which involve buyers with “questionable credit” or those that have been previously bankrupt or in debt because of situations beyond their control.
“The rent to buy option allows buyers to upgrade the deal into an instalment contract, and then into a second mortgage, but only if they showed consistency in their payments,” he said.
“Rent to buy is also a fast and easy transaction for real estate investment because it requires less paper work and legal costs in the beginning,” he added.
Mr. Otton also explained to his listeners the benefits of an instalment contract for people planning to generate wealth.
“Instalment contracts, although it requires a simple license to be undertaken, will give sellers more upfront payment because buyers make the commitment to take ownership of the property from day one,” said Mr. Otton. “Contrary to rent to buy where buyers are given up to 2 years until they decide to buy the property or not.”
“At the end of the day, people should always consider what they will do with the property they are buying before deciding on whether to go for rent to buy or instalment contract,” Mr. Otton said. “Both strategies will yield positive outcomes for different purposes.”
Rick Otton has been teaching alternative real estate investment strategies around the world for over 2 decades. His strategies on purchasing properties without deposit, mortgage, or any prior experience in the market can be found in the critically-acclaimed book “How To Buy A House For $1.”
This special episodeand other free podcasts can be streamed from CreativeRealEstate.com.au or call 1300 888 450 for Australian listeners.
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 (http://www.creativerealestate.com.au/?
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.
For full details of Mr. Otton’s open-to-the-