Rick Otton Vendor Finance Investing – How it Works
What is Rick Otton vendor finance investing? Simply put, this concept is the most promising and successful strategy in the real estate industry.
Vendor financing investing started with Rick Otton, who used to be just a regular guy in Sydney, and is now a multi-millionaire investor recognized in the entire continent of Australia as well as in the United States.
Based upon its name, Rick Otton vendor finance investing offers home buyers the opportunity to buy the house of their dreams without getting the assistance of bank loans. Buying a house with no bank loan? Does that sound like an impossible feat for you?
The reality is that you can buy a house even without getting a bank mortgage loan. As fantastic as it may seem, Rick Otton has already sold hundreds of homes to people who are now proud homeowners. And yes, they didn’t have to apply for a home loan to buy the house they wanted.
How does the process work? As an investor financer, Rick offers a qualified home buyer the chance to own a home through a rent-to-own arrangement. That means once the deal has been made, a home buyer can move in the house and submit monthly rental fees to the property owner for a specific payment period.
By the end of the payment period, the renter has the option to buy out the house from the seller for a small amount of cash. In some cases, the property investor may also seal the deal at the beginning of the term and request the home buyer to pay a down payment after 90 days or half-way through the payment period.
For many people who cannot afford to make a home purchase because their home loan applications are declined, vendor financing investing is a huge help. By submitting monthly payments to their investor, they get to live in the house they want, enjoy its comfort, without having to shell out a large amount of cash or make a significant down payment right away.
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