how to buy a house for a dollar! real or not?

Has anyone seen this Rick Otton or read his book called: How To Buy A House For A Dollar? His website literally promises the earth. It quotes people are putting $1 down taking $10,000 upfront profit - $440 PW positive cash flows then a further backend profit of $27,000! Sounds too good to be true. He seems to offer some amazing source of housing financing which gets around the onerous requirements of Australian banks! And you guessed it he has no financial services license either - don't need one when it comes to property advice :)

Read some the quotes from his website:
http://www.howtobuyahouseforadollar.com/

“I am on a mission to help 10,000 Aussies get into real estate investing – the alternative way. I will show attendees how to buy a house for $1 and generate positive cash flow from Day 1, even if they have no deposit, can’t get a bank loan, and have no previous real estate experience.”

“It frustrates me to hear how good, honest people are being denied home ownership because they cannot meet the tough criteria of the traditional lenders – the banks” said Mr Otton."

"Aspects of the traditional property system in Australia and New Zealand are dated and no longer work for buyers or sellers. Many first time home buyers are unable to purchase, even with government grants and concessions. Home owners are finding it increasingly difficult to make their mortgage payments, as interest rates rise. Sellers are unable to achieve their sales price as banks have pulled back on their lending, making it increasingly difficult to borrow. In how to buy a House for $1 Rick Otton, with over two decades of property investing experience, lays out the strategies to solve these current problems. This book will transform the way readers think and invest."