In his latest
"But what many don't realise is that the vast majority of their profits comes straight from mortgage lending. Basically, that means that if the banks are doing well, the economy is doing well, so Australians are doing well," he went on to say.
"With so much of their success tied to the fortunes of Australian homeowners, it makes sense that the banks know their customer very very well,"
"After talking with Leckie, a physiotherapist, in this latest podcast, I realised that more and more people are becoming self-employed," said
"But most self-employed people don't realise that working for yourself completely changes how banks view you. For example, my research shows that the big four banks will look at a 2-4 years of successful self-employment history before they will consider lending to you," said
"They also prefer that the people they lend to are conservative, and are looking at a negative gearing or a "buy and hold" type strategy, which doesn't make sense for all investors, as my chat with Leckie in this particular podcast highlights."
"Banks also sometimes disadvantage borrowers by accepting developer valuations for properties, which means that capital growth later on is limited because buyers accept inflated valuations that don't actually reflect the true worth of the individual property asset," explained
"Australian banks are strong institutions which is great for Australians, but sometimes property investors need to be more creative than what the big 4 banks offer them in terms of property investment strategies" said
Australian property investment specialist,
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, A Current Affair and Australian Property Investor. His real estate book, published in 2012, ''How To Buy A House For A Dollar', was voted by
As well as conducting free seminars, workshops and conferences in the
These podcasts can be accessed, at no charge, at CreativeRealEstate.com.au
Read the full story at http://www.prweb.com/releases/rick-otton-podcast/property-market-australia/prweb11954086.htm
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