If you have read ads that say Rick Otton – We Buy Houseswithout bank loans, perhaps you may frown at the idea. After all, is it really possible to buy a house or a property without applying for a bank loan?
Today, let’s get to know more about Rick Otton and how he became a successful seller financer in the real estate business.
Who is Rick Otton?
Rick Otton is a popular name in the real estate business in both the United States and Australia. Over the twelve year, Otton and his wife have been able to purchase hundreds of home and properties in US and Australia, selling them back to the market for profit.
Since Rick Otton began this method of investment, he has managed to turn himself into a big time real estate investor with successful track record to boot. And not only that! Based upon his own experiences, Rick has created a firsthand guide, designed to help aspiring seller financers who also want to succeed in the real estate business. He also conducts boot camps for actual training and seminars.
What is Seller Financing?
The strategy that Rick Otton uses is called “Wrapping”. Rick finds qualified home buyers who only can afford to pay monthly payments for their homes. Some of these people find it difficult to get approved for a bank loan either because of an imperfect credit score or a history of bad credit.
What Rick does is offer them home financing, by allowing them to rent the property, submit monthly payments for a specific time period, pay the remaining balance in lump sum and get to own the home by the completion of their repayment period. Such an offer presents a wonderful opportunity for people who dream of living in their own house but who cannot qualify for a standard mortgage loan.
To understand more about real estate seller financing business, check here to find out how you can buy your next property without applying for a bank loan. The website also offers free access to a 30-minute video about what you should know of bank loans. You can also order the Rick Otton – We Buy Houses exclusive guide on how to buy a home at a low price, how to spot a good property investment and mistakes that you shouldn’t do to avoid losses.