{"id":15192,"date":"2018-11-16T07:31:01","date_gmt":"2018-11-15T18:31:01","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=15192"},"modified":"2018-11-16T07:31:01","modified_gmt":"2018-11-15T18:31:01","slug":"how-to-buy-a-house-for-1-author-and-property-spruiker-rick-otton-fined-record-18-million","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/how-to-buy-a-house-for-1-author-and-property-spruiker-rick-otton-fined-record-18-million\/","title":{"rendered":"\u2018How to Buy a House for $1\u2019 author and property spruiker Rick Otton fined record $18 million"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO:\u00a0How to Buy a House for $1 contained \u2018misleading\u2019 testimonials.<\/strong><\/p>\n<p>A property spruiker who charged investors tens of thousands of dollars to learn \u201chow to buy a house for $1\u201d has been slapped with a record $18 million fine.<\/p>\n<p>The Federal Court handed down the penalty on Thursday\u00a0<a href=\"https:\/\/www.news.com.au\/finance\/money\/rick-otton-and-we-buy-houses-engaged-in-misleading-conduct-with-book-how-to-buy-a-house-for-1\/news-story\/78d4ef042387bcbf139c1509c87b1940\">after finding last August<\/a>\u00a0that Rick Otton and his company We Buy Houses Pty Ltd had engaged in misleading and deceptive conduct.<\/p>\n<p>From around 2000, Mr Otton promoted real estate investment strategies through seminars, boot camps and mentoring programs that brought in around $20 million in revenue between 2011 and 2014 alone.<\/p>\n<p>Investors were told they would be taught how to buy a house for $1 without needing a deposit, bank loan or real estate experience, create passive income streams through property and quit their jobs, build a property portfolio and start making profits immediately.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.realestate.com.au\/news\/how-to-buy-a-house-for-1-author-and-property-spruiker-rick-otton-fined-record-18-million\/\">REALESTATE.COM.AU<\/a><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"E5kfzWcKYY\"><p><a href=\"https:\/\/propertynoise.co.nz\/au\/advertisingrates\/\">Advertising Rates<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cAdvertising Rates\u201d \u2014 Property News Australia\" data-src=\"https:\/\/propertynoise.co.nz\/au\/advertisingrates\/embed\/#?secret=Wn7QglCyGN#?secret=E5kfzWcKYY\" data-secret=\"E5kfzWcKYY\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" data-load-mode=\"0\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO:\u00a0How to Buy a House for $1 contained \u2018misleading\u2019<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/how-to-buy-a-house-for-1-author-and-property-spruiker-rick-otton-fined-record-18-million\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":15193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478102095,478102090,478098519,478098535,478102088,478102096,478098513,478098579,478098510,478102089,478098514,478098511,478102093,478098509,478102091,478102094,478102092],"class_list":["entry","author-wpcomsupport","post-15192","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-boot-camps","tag-ederal-court","tag-home-ownership","tag-house-prices","tag-how-to-buy-a-house","tag-mentoring-programs","tag-property","tag-property-market","tag-property-news","tag-property-spruiker","tag-propertynoise","tag-real-estate","tag-real-estate-investment-strategies","tag-real-estate-news","tag-rick-otton","tag-seminars","tag-we-buy-houses-pty-ltd"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018How to Buy a House for $1\u2019 author and property spruiker Rick Otton fined record $18 million - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/how-to-buy-a-house-for-1-author-and-property-spruiker-rick-otton-fined-record-18-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018How to Buy a House for $1\u2019 author and property spruiker Rick Otton fined record $18 million - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"&nbsp; 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