Hello its Rick Otton here with a little more accurate information re WA…Western Australia passed legislation that people need a real estate license in order buy, sell or trade a property option .
I had an informal chat with the commissioner  as I was concerned every property developer and property speculator in WA would now need to be licensed .…[Read more]

 Hello its Rick Otton here with more information re WA.
Western Australia passed legislation that people now need a real estate license to buy, sell or trade a property option. I had an informal chat with commissioner re this change, as I was concerned that every property developer and property speculator in WA would now need to be licensed.
The…[Read more]

Facts…North Sydney was sold with wrap instalment contracts as was Newcastle as was Chatswood as was most other regional cities in australia…..Fact……on one documented ontract has been disputed in court…………1Fact……vendor finance contracts made up most real estate contracts in the first 100 years of Australias…[Read more]

Here it is……how many are you doing?
Do one and you get hit unless you can prove this is the business you are in
if this is the business you are in then you pay the tax when you receive the profit
http://www.rickotton.com

Because of market corrections it is always good to be armed with the right strategy for the right market timing……now it is probably wiser to simply assume or take control of mortgages attached to the existing house your thinking of buying…this way you didn’t create the debt and are not liable for it but can profit greatly from it being…[Read more]

The power of these are amazing they come in a variety that is proving to be very popular …
To use these strategies to assume home loans and buy into big properties for pennies. Only today one of my students bought a 1.5mil property tennis court and pool for the cost of next months mortgage payment and a organized a car to be left in the…[Read more]

I suggest you put some meat in the copy and remove the advertizing jargon.How about the costs, the money required to get involved.Price on application I haven’t found sits well with buyers.Listen to a teleconference I had last week with a student of mine and she’ll tell you how she changed her add style and received over 40 calls…she tells what…[Read more]

I pay 1% for prescreened buyers
http://www.rickotton.com

Thank you for the question.Before I agreed to this purchase I asked the agent (whom I’ve bought from before)what else had just sold in the street to support this property as being below market and a good buy.Two houses had sold in the same street one for 348k and one for 355k.I will shortly put up on my site some downloadable footage of this…[Read more]

The event this year moves with the massive growth in the market place of assuming loans through lease options and creating debtfree income streams through 2nd mortgage carrybacks.I’m sure we’ll cover all the other types of vendor financing somewhere but for the benefit of those not familiar with the power of the 2nd mortgage carrybacks as a great…[Read more]

tip:experience is what you get when you don’t get what you want

Tip:you can never pay too much, just too soon

http://www.rickotton.com

May I suggest you feel free to contact me if you want some assistance or advice with Texas as it was in Texas I started my We buy Houses business some 15 years ago and bought many foreclosues in the good old days of the Savings and loans collapse as well as many since.p.s. it doesn’t get cold till about Thanksgiving. http://www.rickotton.com

I have managed to achieve many of these transactions Texas over the years, the advantages are you can do so with only one form and $7 and you can use a 1031 exchange to defer taxes on profits by applying the profits to the next property.Downside is from experience doing this from a distance means you’re relying on Texans thinking like…[Read more]

“Tea bagging” is becoming quite popular at the moment and really is one of the most popular types of vendor finance.This is where a buyer finances 90-95% of his property purchase and you supply the remaining 5-10% either by gifting or cash in.You carry back from settlement 2nd mortgage or first on other unemcumbered property
for 100% to 300% of…[Read more]

Remember the secret here is your providing and supplying opportunity …not a two bed unit as a two bed brick unit has no emotive impact http://www.rickotton.com

May I suggest a couple of things here…
1/ A letter from her lender which is pretty standard stating the payout figure from the property in order to release title…this is different from loan balance letter
2/ You don’t mention how much she needs upfront which is important to know
3/ in this market I always mention to sellers and get them to…[Read more]

As you guys know I buy in dallas twice a year because that is where I started out so If you’d like to come along next time drop me a line
[email protected]

Hi again, re the interview

I refused to do the current affair interview and it was agreed to only at the last minute under two conditions
A/ I would only talk about the association with I was the spokes person for at the time but not the President
B/ I received the questions in advance

Neither of these two things happened and unfortunately…[Read more]

Hello,
in answer to my comment about never having been to a Steve seminar, I remember being interviewed and it became obvious from the beginning that the interview was really a set up for an industry bashing with the interviewer to set both Steve and myself up and pitch us against each other

At the time I made the statement to the journo my…[Read more]

fair comment about the copy writing it is a little gimmicky and i will address that but buying the house for $1000 deposit is correct so is last months for $452.00 deposit……full stop no more to pay….it is because it is hard to believe I do all these things that i put up the actual contracts, the actual cheques and in many cases actual…[Read more]