The 2014 Federal Budget scrapped the First Home Savers Account (FHSA), which provides first home buyers around the country with tax breaks and contributions from the government, News.com.au reported on
FHSA previously awarded people saving up for a home deposit with tax breaks and monetary subsidy.
"Government programs like the FHSA have helped alleviate some of the difficulty first-hombuyers faced when saving for a deposit. Therefore, the removal of the FHSA will be no doubt met with some level of frustration among first homebuyers who can never seem to come up with the cash to buy a home," according to
"The truth is you don't really need government subsidy to buy houses for sale, since there are other ways Aussies can purchase property without paying a huge deposit or taking out a new bank loan. We've just been conditioned that we need a lot of cash to get a home, because that's how things have been done for a very long time. However, with the changes in the economy and the cost of living, what was practical before is no longer practical today," commented
"That is why it's very important to come up with creative solutions to solve modern problems. An example of a creative real estate solution is through seller finance. Under this process, sellers and buyers can agree on flexible payment terms. Rather than take out a new loan, a buyer can assume the existing financing and pay the remaining equity in increments. In this way, the seller is able to relinquish unwanted debt and create an immediate cash flow stream. It's a convenient solution which makes the process of buying and selling much quicker and much more efficient," said Rick.
For over 23 years property millionaire
He constantly refines his techniques as he buys and sells properties through his We Buy Houses business which operates in
A gifted speaker and educator,
He regularly records and publishes iTunes podcasts via his channel
His innovative low-risk, high-reward approach to Australian real estate investing has been featured in a variety of television programs and magazines, including Today Tonight, Hot Property and Australian Property Investor.
To register for one of
Read the full story at http://www.prweb.com/releases/fhsa-scrapped/rick-otton-seller-finance/prweb11880405.htm
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