I’ve listened to Rick Otton’s podcasts for years and have always admired him—especially his unique approach to real estate investing. Then a few years ago when I was in Spain, I met another investor who knew Rick. That person gave me Rick’s email address, which allowed me to contact him. Rick lives in Australia but invests in many countries.
When we finally talked, Rick said he was going to be in Iowa. How crazy?! This world traveler was going to be in Iowa. Come to find out his wife is from Iowa and he owns a farm there.
In this episode, I get to uncover some of Rick’s amazing strategies for investing. This guy invests all around the world and has been investing since the 1980s. He tells us how he started out in Dallas, Texas, during the collapse of the savings and loan institutions. (If any of you are old enough to remember that.) His investing experiences from that era will blow your mind.
Rick’s upbeat, positive attitude is an inspiration to thousands. He’s great at dispelling reasons why things can’t be done. If a lawyer in another country says, “You can’t do that here, it’s illegal,” Rick challenges them to show him where in the law books it says you can’t. It changes the picture.
But my favorite strategy of Rick’s is how he draws the seller in as a partner in order to convince them to fund the deal.
In 2002 when Rick first started investing in England, lease options and land contacts were almost unheard of. He plunged in to using the strategies, then started teaching them. It took off and now these are common practices all over England.
Regarding his international investing, he says banks are the same all over the world and people are the same as well.
Good Rick quote: “There’s nothing you can’t do, it’s just an undiscovered process.”
Listen and enjoy:
- Rick’s heyday in Dallas in the 1980s
- His strategy to pull in sellers as partners
- Advice for investing internationally
- As a coach and mentor, he asks: Are you a “wish I had” or a “glad or I did” person?
- How to confront the lawyer who says “it can’t be done here”
- Comparing real estate agents in different countries
- Using an interpreter
- The trigger clause
- Working with sellers—asking the right questions
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Joe’s Coaching Program: Joe McCall Coaching
- Podcast Hotline: 636.255.8815
- Free Fast Cash Survival Kit: Real Estate Investing Mastery
- Rick Otton’s podcast: We Buy Houses Radio
- Rick Otton’s website: Property Investor and Mentor
- Rick Otton’s scripts for sellers: Deal Finder
- Rick Otton’s courses: The New Rules of Property Intensive
What are you thinking?
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