A Million Lives

A million lifestyle hacks...unlimited possibilities

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5 Ways to Make Money from Your Spare Room

Whether the kids have flown the nest, haven’t been born yet or you don’t plan on having any; chances are you have a spare room in your home. For many, when this room is not in use you may feel that it’s a little bit of a waste and that there is a great big dollar potential hiding within its depths. And if you are willing to invest a little time (and potentially money) into this space then you would be absolutely right, it has plenty of potential to make you money in the long term.

So, what are some easy ways to start making money from your spare room – no matter its size, previous use or whatever other excuses you might be using to hold yourself back from making the plunge.

1 – Home Office

Do you feel like you could make a success of your very own home business? If so, it makes complete sense to make your spare room a home office in which to base all of your business activities. Stick a desk, chair and some sort of computer device in there and you should immediately have the perfect setup for your very own little business. The same goes for a crafts table, easel, or whatever else your business may need other than a computer.

Not everyone is able or willing to set up a home business, but for those who are it can be the perfect way to ensure complete flexibility of work and your spare room could be a great source of money for you as a result.

2 – Rent it Out

Rental space, no matter the size, has some serious earning potential depending on your attitude towards it. In fact, websites such as Airbnb work on the principle that their users are property owners who wish to rent out their spaces on a casual basis. Such an arrangement isn’t a big commitment, you can take down your listing whenever you feel like not seeing someone in your spare room for a while (or that you have made enough money from it for now).

This also works for both a permanent housemate and an occasional traveller, depending on your needs or preference.

3 – A Child’s Room

A spare room for a child or even a simple playroom could actually potentially earn you a lot of money. You could offer your services to family and friends, as childcare at a much-reduced rate to other providers in the area. Or you could choose to offer your services in the fostering Manchester area – at £495 per child every month (with a slightly reduced rate for every child after), your fostering allowance would be more than enough to make the endeavour worth it.

And if you don’t want to look after children on a permanent basis? Then you could offer yourself up as a relief or emergency foster carer, meaning you would only have to welcome a child into your home on a case by case basis and not for extended periods of time.

4 – Store Stuff

And no, not just your stuff. Unless you want to really go the extra mile and try to make your spare room a contender for a hoarder programme. Even if you only charge a smaller than average market fee for the use of your space, over time this could easily mount up. And, more importantly, you would not have to do anything more than simply allowing that stuff to sit there in your spare room. A simple, but effective, way to make money!

There are plenty of websites where you can meet people needing additional storage space in your area.

5 – Exchange Students

Students from other countries are a great way to either make a little extra money or find some extra help around your house for a very reasonable sum. Lots of companies that arrange these exchanges pay the host family, especially as you will be providing lodging, food and even entertainment for this student.

If you would prefer an older student – who would need less supervision and entertainment – then you could also rent out the room to a foreign exchange student in a university programme. Older, more responsible and guaranteed to want to go home for the holidays each term to give you a regular reprieve.

Overall, your spare room could be hiding a wealth of money-making opportunities depending on what your interests are. From passive income to more hands-on methods, it all depends on how much time and even money you want to invest in the process. For those with a vision for their spare room, it could be a great money-making venture to start today!

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Easy Ways For Students To Pay Off Their Debts

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Any student who is attending post secondary schooling will tell you how difficult it is to pay for loans, food and other expenses while trying to keep their grades up. It can be a huge expense as well as a huge stress for many students who may not come from a background where money is plentiful. Here are a couple of great ways that students might be able to make some easy money in order to pay for their student loans and other expenses.

Tutoring Internationally

Many students these days take their knowledge and experience and put it to work for them. Tutoring internationally is one such way to make some money doing something that comes as second nature – usually in English. Many online teaching websites nowadays offer up the opportunity to teach English as a second language (amongst other skills) which mean many students can take advantage of this as a way to make extra money to go toward their schooling if they choose. The benefit is that they can also choose the hours they work, as well as the time zone in which they work which can work with their own schedules making it a hugely popular option.

Online Games

Online games such as betting, playing poker and slots amongst others can also be a popular way to make extra money. With a party casino bonus code on offer as well it can be easy as pie to take advantage of these great betting options to play fun and lucrative games in spare time between classes or lessons to help lessen the burden of costs such as rent, food, bills or student loans. With so many options for online games as well it can be a great way that students can spread a bit of extra pocket money either by playing slots, poker or betting on their favourite sports to their benefit.

Second Jobs

It might sound obvious  but one of the best ways to make some extra money for students is to get a second (or even a first) job. Many students take up evening work such as bartending, serving or working retail jobs to help supplement their pocketbooks. If this doesn’t sound like you, why not consider picking up some freelancing online to see what you can do on the side without having to leave home?

So if you’re a student looking for some great ways to make some money on the side, check out some of these great tips today. With so many options to make extra money you will be wondering why you didn’t start earlier!

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Great Ways To Make Money Online

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Have you been wondering how you might be able to afford that next amazing getaway to a far  flung and tropical locale? Or maybe you have been thinking about ways to make some money online or off in order to afford that great new toy or even put some extra money toward your car payments. Check out some of these great suggestions for some truly unique ways to make a bit of extra money on the side for whatever you want to put it toward.

Freelancing

If you have any kind of marketable skill such as graphic design, writing, website coding, coding of any kind or artistic skills like photography, freelancing can be your best friend when it comes to making money online to put towards any kind of item, trip or more. Freelancing can be easily done through third party websites such as Elance, Fiverr, Upwork, People Per Hour amongst others. These days freelancing is gaining ground in terms of being a legitimate job, what with job security amongst big corporations beginning to become more and more unstable. For more information and to get started, consider visiting one of the aforementioned sites to get in on this great option for making money.

Online Games

When it comes to working and playing online nothing beats making money by having fun while you’re doing what you normally would. With online games you can make a killing through placing bets, playing slots and more. You can check out the party casino review online before signing up to play some unique and fun games in your downtime. After all, what better way to spend a couple of free minutes than playing games online and making money while you’re at it?

Sell Online

If you have an attic or basement full of old things you never use, why not consider selling some things online? With some selling websites such as eBay or even others these days it is entirely possible to sell old CDs, DVDs, books and clothes online for a decent profit. Electronics like mobile phones, TVs and more can fetch a great price as well. Check it out – you might be surprised at the gold mine you have hiding above your head!

There you have a couple of great options if you’re looking for fab ways to make money online to save up for any number of events, trips or even just to replace an old furniture set. How will you make money this month online? The world is your oyster!

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6 Ways That Your Credit Scores Impact Your Personal Finances

Your credit score shows your past interactions with credit and it tends to follow you over the years. To a lender, it serves as the point of reference that tells them how you handle credit and therefore predict your behavior if they do business with you.

Basically, a higher credit score means that you are attractive to most lenders and they will have no problem working with you. On the other side, people with low credit scores go through a difficult time when searching for financial products. However, credit scores don’t just affect your borrowing ability but also other areas of life that are critical to your personal finances.

Credit scores can influence your ability to save

When you decide to acquire a home or an automobile, your credit score will play a huge role in the deal you will get. The truth is that almost every lender relies on your current credit scores to determine your overall trustworthiness.

As such, you really need a good score if you are to get a favorable deal with creditors and insurance agencies. On the flip side, a poor credit score serves as a warning to service providers and it represents you as a risky client. As a result, you are likely to be charged a higher fee to access the services on offer.

People without credit history aren’t safe either. Generally, creditors don’t like going into business blindly and without a credit history, a creditor doesn’t know how you will handle the debt. Therefore, the only thing they can do to safeguard their business is charging you higher interest rates.

When you are paying more than ideal fees on these services, it can lower your propensity to save since you’ll be spending the cash you’d have stashed away.

The score can have an impact on your career

Today, prospective employers are conducting credit checks on job applicants. To them, this is a way of understanding your trustworthiness and discipline with money. This practice is most prevalent in high job positions that involve top-notch responsibility or where you’ll be handling huge amounts of cash.

However, it has a lot of influence on how an employer perceives you irrespective of the position you are seeking. There is an ongoing debate on the fairness of this practice that has become the norm with employers.  The fact that it’s happening means that you can be disqualified from a lucrative job position if your credit scores show you’ve struggled with debts.

It affects your insurance premiums

Vehicle and home insurance service providers tend to rely on your insurance scores when making a decision. Basically, this is a scoring system that relates the credit scores of a prospective customer to the risk presented to the insurance company.

While a low credit score won’t prevent you from accessing insurance services, you will definitely be paying higher premiums. On the other hand, having an impressive credit score can help you get an insurance deal with low premiums.

Utility companies will be concerned

Today, most utility companies providing gas, phone, and electricity tend to review your credit profile in order to determine if you will be a reliable client or not.

If your credit scores are suffering, it doesn’t mean that a utility company will lock you out of their service. Nevertheless, it’s highly likely that you will be asked to give some deposit before being allowed to use their services. The total amount required will be determined by your scores. As such, the lower the score, the higher the deposit amount you’ll have to pay.

Refinancing options depend on credit scores

Having a home is a dream held dear by many people. But at times, you don’t get the house at favorable rates or something can happen in future and you realize that you need to refinance the mortgage.

Whether you’ve been diligent in making the mortgage payments or not, as long as your credit scores are below average, getting a refinancing deal can be daunting. In consequence, you might end up paying lots of money over the years. On the other hand, stellar credit scores will help you get a great refinance deal which can reduce the cost of your fastest nation 21 loans.

Your personal relationships could suffer

When you have a low credit score, there is a high possibility that your relationships will feel the pinch. In order to have a fulfilling life, maintaining good relationships with people close to you is quite important.

Basically, people will be wary of lending you money given your previous behavior with credit. Most importantly, it can prevent you from going into partnerships with critical individuals who would have helped you generate tons of wealth. Lastly, having domestic conflicts resulting from financial issues can curtail your ability to pursue your future goals.

Final words

At the end of the day, a credit profile is part and parcel of your everyday life. While different people have unique situations, you should make a decision to improve your scores as soon as possible. The more you postpone the goal, the longer you will continue getting deals that are less than ideal.

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Mack Prioleau on the Career of a Financial Analyst

Today’s job market is absolutely fascinating. One of the most in demand positions is that of a financial analyst such as Mack Prioleau. Anyone who is able to meet the financial expectations of modern employers is likely to be able to have a job for life. Let’s take a look at this fascinating career.

What People Like Mack Prioleau Do

Financial analyst or business analysts are professionals who monitor the way a company moves financially. Their main task is to determine what the financial risk of the company is and using that to draught forecasts. By working together with these types of professionals, businesses are able to ensure the financial Decisions of Sound, put in place debt strategies, monitor cash flow, and maintain budgets.

Where Financial Analysts Work

Financial analysts are in high demand in a range of industries. In fact, anywhere where complex finances are found, analysts may be required. This includes:

  • The auditing and accounting services industry.
  • The defence and aerospace industry.
  • The banking industry.
  • The pharmaceuticals and biotechnology industry.
  • The business services industry.
  • The computer hardware and software industry.
  • The education industry.
  • The consumer goods industry.
  • The construction industry.
  • Electronics.
  • Utilities and energy.
  • Engineering.
  • Government.

Job Duties of a Financial Analyst

A financial analyst has a variety of tasks. Mainly however, they are responsible for evaluating the financial risk of their organization, reporting on this through financial forecasts and helping to create strategies. They also ensure the company’s budget is appropriate by looking at the costs of operations. They determine what the business’ current financial status is by looking at projections and actual results. They also make sure that the correct financial policies and procedures are in place and ensure they devise solutions to improve. Often, they also maintain database systems, ensuring the data is accurate. Indeed, some even develop accounting applications to improve this. They maintain the highest level of confidentiality and they work across all levels of the organization.

Becoming a Financial Analyst

In order for someone to become a financial analyst, they will usually be expected to hold at least a bachelor’s degree in finance or a related subject such as administration, statistic, economics, or management. Some become Chartered Financial Analysts (CFAs), for which they require further education with most actually holding a master’s degree. Completing certifications and internships tend to place someone in higher demand.

Through education, a financial analyst demonstrates that they have excellent oral and written communication skills come out the ability to understand business operations, superior organizational and analytical skills, the ability to make financial forecasts, project management skills, the ability to work on the minimum levels of supervision, the ability to multitask, an in-depth understanding of quantitative and financial Concepts, and excellent IT skills.

Considering the high level of education that these professionals have and a tremendous responsibility they carry in their role, it should come as no surprise that they also attract very interesting salaries. While it is generally not the main motivator for someone to take on this position, it certainly helps.

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Houston Real Estate Attracts Many Buyers According to Al Hartman

Houston is one of the fastest growing cities in the country. Indeed, according to the US census Bureau, it ranks in the top 10, just behind some metro regions such as Atlanta, GA. According to Al Hartman, who has worked in Houston real estate most of his life, there are a number of particular things that make the city so appealing.Indeed, it is because of those things that professionals like him have faith in the idea that Houston will continue to grow even if there is an economic downturn.

Al Hartman on the Attraction of Houston

There are a number of things that make this city so attractive. Those include:

  • Its economy. Even during the last economic crisis, the metro region around Houston continued to thrive. The reason for this is because there are so many different industries that operate within the commerce of the city, including manufacturing, shipping, computers, energy, and aerospace. Additionally, the city is known to aggressively attract new employers and new industries. This is why the unemployment rate is almost always low here.
  • The cost of living. Texas does not have state income tax and Houston does not have local income tax. Additionally, prices are much lower than in various other national metro areas. The result is that a lot of people are interested in the proposition of living here. It is quite possible to enjoy a comfortable life even on a budget. Compared to other metro regions, housing costs are also surprisingly low, with some very nice properties costing less than $200,000, something that almost no other region can replicate.
  • The weather. Houston is pleasantly warm all year long. It does have its own seasons with slightly colder winters, but compared to areas further in the north, even the winters are mild.
  • The opportunities period last but not least, Houston and its metropolitan area is incredibly diverse, expensive, and vast. No matter what someone likes to do, they know they can find it here. People can enjoy the great outdoors, take part in notable educational experiences, watch professional sports, immerse themselves in the arts, and more.

It is clear to see why Houston is such a fast growing city. Anyone interested in relocating to Somewhere new and interesting should really take it into consideration. That said, it is important to do so sooner rather than later, as there are always opportunities to be missed as they are being taken up by others. Real estate prices are affordable, jobs are available, educational places are still free, but how long this will continue is anybody’s guess.

I’ll heartburn at faith in the fact that people will continue to come to his favourite City. Indeed, it has done very well throughout various Economic downturns and there is no reason to suspect the next one will be any different. Additionally, opportunities exist both for established professionals and for entrepreneurs who want to look at start-up businesses. The time to come to Houston is now!

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Yigang Tang Recommends European Countries for Real Estate Investments

The European continent is home to many different countries, all of which have a fascinating history and rich and beautiful natural environments. Since the fall of the Eastern Block, however, it is also home to numerous emerging economies that are of particular interest to foreign real estate investors. Yigang Tang recommends that those interested in making such an investment consider the following countries.

Yigang Tang’s European Recommendations

The first country that Tang recommends is Hungary. Between 2004 and 2005, property prices in Budapest, the capital of the country, grew by 15%. Growth has slowed down somewhat now, but prices are still far below those in this country and they continue to increase. Additionally comma there is quite a significant demand for rental properties in Hungary as a whole as it also has an emerging tourism industry. For the investor, this means there are opportunities in both commercial and residential properties, as the tourism industry growth is also giving rise to many new businesses.

The second country is Latvia. The Latvian economy is still being established but it is now the fastest growing in all of the European continent thanks to direct investment from foreign countries. Additionally, it is believed that workers in this country will receive one of the 5 highest salary increases globally. What this means is that people in Latvia are able to spend more comma including by paying more on there rent period they can also spend more time enjoying their country’s emerging tourist industry, for instance in coastal port towns or in Riga, the capital.

Then there is Poland. This country joined the EU in 2004 and has received significant investment and aid. This has been used to improve the infrastructure, leading to strong economic growth. Krakow and Warsaw are two very popular destinations for businesses and international companies, which means there is also a high demand for both residential and commercial properties. The Polish government is committed to maintaining economic growth, making it safe investment location.

The third option is Romania, which joined the EU in 2007. The prices for real estate are ridiculously low in this country and you can purchase anything from a factory to a castle. However, Romania is also home to tremendous bureaucracy, red tape, and paperwork. If you are happy to deal with that, then it is one of the best investment opportunities for real estate professionals around.

Last but not least, there is Turkey. Turkey is on on the fence market. They have long been trying to join the EU but have so far been unsuccessful. The recent Presidential elections have also once again caused a degree of turmoil in the country. However, the tourism industry is incredibly strong and this means that a foreign investors can really strike while the iron is hot. At present, property prices are low and they have not grown much over recent years, but it is likely that there will be achange and it can only be positive.

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How to Invest In Cryptocurrency

Interested in investing in cryptocurrency but you’re not sure where to begin? Then click here. This article will guide you on how to invest in cryptocurrency.

We’re sure you’ve heard the buzz about cryptocurrency. It’s taking the financial world by storm! After all, more than 3 million people are actively using it right now in one way or another.

Sounds interesting and all, but can I get a “huh?”

Knowing how to invest in cryptocurrency is key to avoiding the confusion that may come with using this intangible money. Since there are no less than 1,037 options available, with caps of up to $55 billion dollars, choosing your currency can be a tough decision to make.

Which is why we’re here.

We’ve compiled a few tips that’ll get you headed in the right direction, starting with what cryptocurrency actually is. A good place to start, right?

Let’s get investing.

How to Invest in Cryptocurrency Today

So, what is cryptocurrency? Let’s find out more about that before we invest.

In laymen’s terms, it’s digital assets that you don’t need to use a central bank to access. It is easily transferrable online, and accessible through your computer, phone, and certain crypto apps.

In the past, bitcoin ruled the crypto world. But now there are many any option for investors.

Which brings us to our first tip:

Choose Your Currency

And you don’t have to choose just one. Take the time to research the rises and falls of different currencies. Invest in a few that peak your interest.

A well-rounded “portfolio” of currencies gives you better odds of landing on one whose value will rise.

Buy Your Currency

The next step is biting the bullet. You can purchase your currency within the realm of that site – bitcoin buyers can buy right within the bitcoin site – or you can buy it through means of “betting” through exchange trades. This is good for those who don’t want to make the financial commitment quite yet.

Store Your Currency?

Accessing your currency is much like remembering a screen name and password. You don’t want to lose this information. There are ways to store your currency to ensure that it’s safeguarded.

We recommend keeping a personal attachment to them: after all, it’s your money to make!

Pay Your Currency Taxes

And, much like every other dollar you make in this life, crypto is no exception. Whatever you make in this investment, you’ll have to pay taxes on.

But that’s okay because we hope you’ll be rolling in the dough by then. The value of cryptocurrency has now exceeded $150 billion dollars – a number that used to be a measly $25 billion five months earlier.

Make the Investment

If the studies have shown us anything, it’s that cryptocurrency isn’t going anywhere. In fact, the amount of users right now is three times what was previously estimated (that’s a lot).

Much like the stock market, you can’t invest when it’s too late – as in when it’s doing really remarkable. Once everyone’s cents turn into big bucks, the value is much different for new buyers.

Knowing when and how to invest in cryptocurrency will help you make the most money, and we don’t just mean the virtual kind. So don’t hesitate.

If you have any more crypto hacks or ideas about this growing financial landscape, please reach out to us!

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DIY or Don’t: Buying a House Without a Realtor

If you’re considering buying a house without a realtor, then check out these pros and cons before you decide if it’s the right choice for you.

We’re now living in a time when there are more people who rent than own a home since 1967. Some people choose to rent because they don’t want to be tied down.

Others don’t want the hassles of maintaining their property. But many erroneously believe that they can’t afford it. Turns out, in the long run, they would save more money by buying a home.

If money is a concern, it’s worth considering working without a realtor. However, cost shouldn’t be your only concern when buying a home.

Here’s what you need to know to make a decision on whether you should consider buying a house without a realtor.

Buying A House Without a Realtor Facts & Fiction

There are a few myths flying around that make some people feel as though buying a home without a realtor isn’t a possibility. It is, but be prepared to do a lot of work.

Some people feel as though they won’t be taken seriously as a buyer if they are buying a home without a without an agent. That’s not entirely true.

While some sellers may prefer to work only with people who use a professional realtor, others might actually welcome the chance to cut out the middle person in the transaction.

Also, many buyers believe that if they make an offer without an agent that the seller’s agent will just keep the extra commission. Unfortunately, if you’re not careful, this can happen.

It’s common for listing agents to have contracts with their clients that contain variable commissions. Often that means that if the buyer isn’t using an agent, the listing agent automatically gets the leftover commission.

Apply For A Mortgage

Not everyone needs a mortgage to buy a home, but most will.

And whether you’re buying a home without an agent or with one, you’ll still need to apply for a mortgage. It’s an important step because it lets you know what your budget is for home buying. But there’s a lot of paperwork involved.

To make it easier on yourself, gather up all pertinent papers as your first step. Then do some research to find the best place to get a good deal on a mortgage.

Check Your Credit Score

Your credit score is definitely going to come into consideration when you’re applying for a mortgage.

Check your credit score. If there are any errors, take the appropriate steps to clear them up immediately. If there are some red flags but they aren’t from errors, do what you can to improve your score as soon as possible.

Putting yourself on a budget and taking steps to lower your current debt will go a long way towards helping you buy the home of your dreams.

Research Where Homes Are For Sale

Figuring out where the homes are for sale is the hardest part of buying a home without an agent.

Real estate agents have access to a great network that enables them to know where all the best houses are. They can use their system to narrow down your search and help you find a home quickly.

When you’re buying without a realtor, there’s a lot more work for you to do.

Where To Find Your Dream Home

To start your search, try looking at real estate magazines. However, if you’re not working with a realtor, you can only use the magazines to find homes for sale by owner listings (FSBO).

An easier search is to go online and search classified ad sites like Craigslist. You can also take a look at other online real estate websites to find out where homes for sale are listed.

Sites like Trulia.com and Zillow.com maintain a database of homes in the United States. You can even perform searches based on parameters such as location, price range, and even layout.

For homes in outside the US, try searching sites like Fab Property Spain.

Check local newspapers to find homes listed. Look in both the classifieds and real estate sections.

Take a drive through the neighborhoods you are interested in buying. Look to see if there are any FSBO signs which list the seller’s numbers on them.

You can also spread the word to friends and family both orally and on social media that you’re looking for a house.

Contact The Homeowners To See the House

Once you find a home you’d like to view, it’s time to contact the owners.

Before you go all the way over to their home to view it, take the time to ask the seller’s a few questions. It will save you some time.

If you have kids, some questions to ask are about the schools and whether or not there are other kids in the neighborhood.

Also, ask about the current condition of the home. Then ask about any repairs made on the home. Ask the seller’s what is included in the sale of their home.

You can also ask about noise levels, problem neighbors, and if they’re willing to let you make an offer on their house if you’re not using a realtor.

How Using A Realtor Saves Time

If you’re extremely busy, then consider hiring a real estate agent.

They can take the time to schedule when it’s good to see the home. They’ll also have the answers to many of the questions you have about the home.

Also, the realtor might have access to additional photos of the home so you can view it without actually stopping by the home until you find one you truly love.

Determine Whether The House Is Worth The Asking Price

Once you’ve selected a home that you love, it’s time to learn how to make an offer on a house without a realtor.

Here are a few ways to evaluate a home’s value without using a realtor.

Hire an appraiser to evaluate the property. While it will cost you some money, the appraiser will perform a thorough assessment of the home.

She or he will also provide you with the required documentation your mortgage lender needs before you can purchase the home.

You can also turn to the internet. Ther are home value tools which have you input the home’s specifics in order to obtain a likely estimate of the home’s worth.

You’ll find quite a few free home value calculators available online.

Try doing a CMA (comparative market analysis). The CMA takes the structure of the home, the property it’s on, and the neighborhood the home is located into account in order to provide an accurate figure of the home’s current value.

You can perform a CMA yourself for free on websites like RedFin.com.

Hire A Real Estate Attorney

Whether you are buying a home with or without an agent, you will still need to hire a real estate attorney.

A real estate attorney will handle all the necessary paperwork to ensure the final sale of the home. When you’re buying a home, the seller enters into a brokerage contract with a real estate attorney.

They handle the transferring home’s title and property from the seller to the buyer. While it may seem simple, trying to buy a home without using a real estate attorney using means.

In the typical home purchase, the seller enters into a brokerage contract with a real estate attorney.

Their job is the process the paperwork and then transfer the title and property from the seller to the buyer.

It is never a good idea to try to sell or buy a home without using a real estate attorney. There are too many possible problems that can arise due to sheer ignorance on the part of both the seller and the buyer.

Make An Offer

Once you’ve found the home of your dreams, it’s time to make an offer.

The amount you offer the sellers may be more or less than their asking price. Much of it is determined by the current condition of the home and how sought after the property is.

If the home was recently put on the market, there is usually more than one buyer interested in making a purchase. If you have competition, be prepared to up your offer.

But there are also times when the seller is asking for more than what you feel the home is worth. It’s not uncommon to put in a bid for less than the asking price based on the current condition of the home and also how long it’s been for sale for.

Your real estate attorney will draw up the terms and then present the offer to the sellers. Be prepared for the sellers to begin a negotiation rather than accepting your offer.

Draw Up A Sales Contract

Once your offer has been accepted, congratulations!

But it’s not over yet, your real estate attorney needs to draw up a sales contract which both you and the seller need to sign. Once everything has been signed and the money and title have been transferred, you are officially a homeowner.

Now it’s time to make your new house a home.

Choose DIY

If you’re too busy, have no interest, or feel you can’t handle doing everything on your own, hire a real estate agent. Just make sure you feel comfortable with them and trust them.

But choosing DIY means that if you’re capable of buying a house without a realtor, you can pretty much do anything you want.

We’re inspired by you. We believe you’re limitless in your possibilities. But of course, you need support and ideas. That’s where we come in.

Keep reading our articles to learn how to do anything DIY.

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Everything You Need to Know About Investing in Turnkey Properties

As with any investment venture, turnkey real estate can bring in lots of money, but only if you’re savvy about it. Read on to learn everything you need to know about investing in turnkey properties.

If you want to invest in real estate as a passive investor, you should learn about turnkey properties.

When you buy a turnkey property, you go into business immediately. You don’t hunt for foreclosures to buy. You don’t remodel a property to make it liveable. It’s ready to rent.

The term “turnkey” comes from the idea that the only thing necessary is to turn the key and unlock the door to start. That’s an appealing proposition for an investor.

Yet, not all people define turnkey in the same way. That’s why it’s important to understand turnkey investing before you spend your money.

Keep reading for information to help you make smart investment choices.

How Does Turnkey Real Estate Investing Work?

As the housing market continues to improve, firms specializing in the turnkey real estate are rehabbing properties to sell to investors. They renovate properties before they’re even listed for sale. Often, there’s someone renting the space when it’s sold.

This works because many investors want to buy properties that don’t need to time or effort to rent.

Sometimes, the same company that renovated the property also serves as property manager for the investor. The property management services include dealing with renters and repairs.

Turnkey investing appeals to investors who live in expensive housing markets. When they can’t find affordable properties in their own area, they buy units somewhere less expensive.

For example, an investor in New York City may buy rental buildings in small towns far from the city to generate cash flow.

So far turnkey investment sounds easy, doesn’t it? But it’s more complicated than buying units and collecting cash. Let’s dig deeper.

Evaluate the Property Before You Buy

Are you going to invest in commercial real estate or single family homes? There are pros and cons for both types of property. However, each type of property requires careful evaluation.

While it’s true a turnkey home takes less effort than other options, you should invest your time in research before you buy.

The first question should be whether the property is a good value. Don’t assume the seller defines turnkey the same way you do. Not all homes labeled turnkey are worth the asking price.

You should visit the house or apartment building before purchase. Don’t rely on photos or descriptions. Treat the transaction as the major investment it is. See the property in person, so you know exactly what you’re getting.

A personal visit to the property lets you assess the building and the neighborhood. The location is a significant part of the appeal. A beautiful property in a terrible location may not be rentable.

In addition to your survey, hire a professional home inspector to check the electrical, HVAC, and structure of the building. It’s easy to be impressed with renovated kitchen and baths. But you need to know things like the roof are in good condition

Get to Know Your Property Manager

When you hire a property management company, you trust them to do a good job. The property manager should listen to tenants and handle problems quickly and efficiently. A good property manager keeps your building filled with tenants.

A bad property manager doesn’t handle problems — from plumbing to tenants — before they get worse.

Research the property management firm. Ask for referrals from other investors. Visit other properties the firm manages. Get answers to the following questions before you hire anyone.

How Long has the Property Manager Been in Business?

You want an experienced operator with a solid track record. An inexperienced company is practicing with your money.

That’s not what to pay for their learning curve. Always check how long the company has been in business. Check on the company selling the property, and well as the property manager.

Does the Firm Have Experience Handling Similar Property?

Find an experienced property manager who has done what you want to do. Ideally, the company you hire has a portfolio of rental property. This shows they have firsthand experience and know how to succeed.

Property management is more than buying a building and renting it. You need to invest in the right neighborhoods, at a profitable price point. Renovations must match what renters in the area want.

Hire a property management firm with similar properties in the same area.

Will you Receive Monthly Statements to Track Expenses and Income?

Does the company have up-to-date software for the property manager and renovation team? Will you receive accurate and timely reports? If the management company doesn’t have the right software and systems, they won’t be able to serve you.

How Long Does it Typically Take to Find a New Tenant?

There are no guarantees in real estate investment, but there are parameters. An experienced property manager will know how long it takes to rent a unit.

Make sure your property manager follows best practices, like tenant screening. A tenant screening report can take a few minutes or a few days. It depends on the information requested, and the screening company. Some screening companies offer accelerated reports for an added fee.

All reports should include character references, rental background, and employment. Work with your property manager to pick your tenant criteria.

If you buy a property in a good market near jobs, people will rent your units.

What are the Property Management Fees?

The fees should be clear and provided up front. Period.

If fees are based on market rents, be aware there’s always a range. A property manager may say the unit will rent for $1,000 a month. However, you should always have a low and high estimate of rent. Local variables can affect the rental price you get.

Meet in person, tour other properties the firm manages, and get client referrals. Do this before you sign an agreement with the property management company.

Consider reading Investopedia’s Guide to Hiring A Property Manager for more information.

Determine the Ownership Agreement

Most turnkey real estate companies sell the home outright. But, some may want to create a limited liability company or corporation. Then, they ask to become a general partner, so the turnkey company is on the property title.

The reasoning is if they’re on the title they can make repairs without approval. It sounds good in theory, but it’s wiser to create a separate expense account.

The property manager can use it for minor repairs and preventative maintenance. Keep your name as the sole owner on the property title.

Be Aware of Drawbacks

Turnkey properties sound like an easy way to earn extra revenue. But, real estate investing isn’t for everyone. It’s important to realize there are pros and cons.

There’s always a chance for problems. Fire or natural disaster can damage property. The city may have a sudden property tax increase. Real estate investors need to deal with surprises. Sometimes that means having extra cash on hand for repairs.

It’s also important to look at turnkey properties as a long-term investment. If you aren’t ready to commit for years, you may want to invest elsewhere. Plus, real estate isn’t as liquid as other investments. It can take a long time to sell a property.

The Value of Turnkey Properties

Real estate can be a very profitable investment. In most cases, it involves a lot of work. Rental properties require money, time, and renovation skills.

Then, after the property is ready to rent, you have to find tenants and manage everything. You can definitely make money, but you have to work hard for it.

Turnkey properties are a good alternative for people who don’t have the time to renovate or maintain a property. The tenant-ready units appeal to people who want to invest without being the landlord.

High Return Real Estate makes the investment process simple, profitable, and convenient. Contact them to learn more about turnkey rental properties in Indianapolis.

When you invest in a turnkey property, you’ll pay a premium for homes in move-in condition. The potential profit won’t be as high as for people who flip older units themselves. You also pay someone to manage the property. Yet, successful turnkey buyers can generate substantial profits.

Invest in Rental Turnkey Properties Now

When you invest with an experienced turnkey company, you benefit from their knowledge. An established firm offers networking, experience, and valuable resources.

They’ll show you how to get the benefits of a profitable real estate investment without the expensive and time-consuming parts. They do all the work so investors can enjoy a lucrative passive income.

Are you looking for more ways to generate income? Visit our blog for more money and business hacks.

Leave us a comment if you have any ideas.

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