All Topics / Finance / WE BUY HOUSES 12% return

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  • Profile photo of MicasaMicasa
    Member
    @micasa
    Join Date: 2004
    Post Count: 29

    Hi all,

    Just wanted to know if anyone has invested with Rick Otton from WE BUY HOUSES. He claims to offer 12% return on $20000 paid monthly. Has anyone out there invested with Rick? Seems to be a good return for your cash?

    M

    Profile photo of FFCommFFComm
    Member
    @ffcomm
    Join Date: 2004
    Post Count: 627

    While I haven’t invested (or worked) with Rick 0tton, but he has been in business for quite a few years, and since I provide the same return to my investors (using a similar technique), it shouldn’t be too hard for him to give you that return.

    Rgds.
    Lucifer_au

    Profile photo of FWFW
    Member
    @fw
    Join Date: 2002
    Post Count: 478

    I have done Rick’s courses etc, and so I copy his system for investors, and yes, it works and is safe!

    Keep smiling
    Felicity 8-)

    Profile photo of MicasaMicasa
    Member
    @micasa
    Join Date: 2004
    Post Count: 29

    OK next question. Considering that Rick provides this return. If I use the redraw availability on my PPOR @ 6.5%, and take out $40000, which I then invest with Rick @ 12%…I can still repay the redraw at 6.5 % and make a profit of 5.5 %. I’m I missing something here?

    Profile photo of scotty3scotty3
    Member
    @scotty3
    Join Date: 2003
    Post Count: 54

    The tax break on the 6.5% you are paying. [suave2]
    12% isn’t bad for starters. Your money is not leveraged though. You could buy a property yourself using the $40000 as deposit and possibly make a higher return…. depends on how ‘active’ you want to be with your investing. I can recommend Rick as a sound businessman if you’d rather have someone else do the hard work.

    Cheers,
    Scotty3

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    How is your money secured? a second mortgage or a caveat or ??

    Terryw
    Discover Home Loans
    Mortgage Broker
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of FablanFablan
    Member
    @fablan
    Join Date: 2003
    Post Count: 7

    Hi M,

    Not sure if you’ve done any wraps yourself, but now having done over 70 with my partner they certainly have the cashflow to afford 12% (we pay our investors between 8 & 16% depending on how much they put in and to date we have no shortage of investors!) However, I’ve recently been putting my spare cash into other venture, one returning 40% (just received my first six monthly cheque) and the other returning 30%+ depending on the property performance. These are pretty good returns and if you just want to get returns without any effort it may be worth your while looking around.

    B

    Profile photo of MicasaMicasa
    Member
    @micasa
    Join Date: 2004
    Post Count: 29

    Thanks B,

    If you can get a safe return of 30+% on cash on a regular basis, then you are on a winner. I have heard of that kind of return but usually its a high risk venture.

    M

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Might want to do a search on BoLong Pty Ltd from Qld to see what sort of returns you can be promised.

    Some people never learn if it was that easy dont you think we would all retire and borrow to the hilt to invest in a scheme paying that sort of retire.

    We have over 178 properties which we have wrapped and receive 9.25% return which i consider to be adequate risk v return.

    Cheers Richard
    richard at fhog.com.au
    http://www.fhog.com.au

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

    Profile photo of MicasaMicasa
    Member
    @micasa
    Join Date: 2004
    Post Count: 29

    My thoughts exactly…that’s why I though a return of 12% offered by We buy House was to good to be true…never mind 30%+

    Profile photo of FWFW
    Member
    @fw
    Join Date: 2002
    Post Count: 478

    Micasa
    Rick has actually dropped his rate, probably because he has more investors than he needs!
    Certainly I agree with Fablan, I regularly pay 15% to investors, and I’ve never missed a payment yet, the cashflow is strong enough to support that return.
    Yes, too often high returns are “too good to be true”, but don’t let that close your mind to the fact that there are plenty of good returns out there if you’re selective enough.

    Keep smiling
    Felicity 8-)

    Profile photo of MicasaMicasa
    Member
    @micasa
    Join Date: 2004
    Post Count: 29

    Thanks Felicity,

    Not closing my mind…just doing the due dilligence thing…all this might be a mute point soon if this Derivex thing turns out to be real

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