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Actual for You - Investing in Real Estate for Your Retirement (and Now!)
Many people are facing credit card debt, but few understand how to consolidate debt or use debt management to resolve this. Certain people use the excuse that credit card credit was pushed on us so quickly that most didn’t comprehend the concept behind it. Sadly, the concept may have been misinterpreted by some, but the fact is that the concept of borrowing on credit and that you have to simply pay your bill in accordance with the terms agreed with your creditors has been around since money existed – thousands of years. Now is the time to stop finding excuses to blame others for irresponsible borrowing, and start managing credit card debt.The first step is to stop worsening an already bad situation. You have to get a control over your spending habits. The interest is making your balance
Also, check with your Banker or Broker to ensure that you qualify to carry a mortgage on the new property. The Interest Rates are particularly low, right now, so this is a great time to invest in property. The great thing about having rental properties is that not only will you be gaining a perpetual monthly income (the difference between the costs of operation and the rental fee), when you are ready to sell the property, you'll get back all of your initial investment and you'll have the equity spread as well.
If you happen to live in the Property for a couple of years, or so, yourself, then any profit you've made will be tax-free, since it will have been your Primary Residence. Always check with your Accountant to comply with local tax laws. Also, you may be able to hand the property down to your children. Amazingly enough, this is no longer a basic right of a parent in certain countries
Have you ever heard that taking up a hobby will not only take away your boredom but also give you a completely relaxing time as well? Whether you are retired and looking for a new hobby, want to take up a hobby for enjoyment, or just would like something to occupy your time, watercolor painting is the one of the best hobbies to take up. First of all, it is so simple; there are also many resources available to help you get started with your first watercolor painting creation.The first place to look and to learn how to watercolor paint is your local library. You should be able to find books upon books of how to watercolor paint, and they all should give you sound advice on how to begin. If you do not want to look any further than your house, then the internet would also be an excellent place to
In general,Real Estate values always go up. There are some Apartments in Calgary (Alberta, Canada) that I wanted my husband to buy (he wouldn't, but that didn't stop me from asking!) about five years ago. Back then, the Apartments were selling for $96,500.00 for a Two Bedroom place, and now that same unit is selling for over $150,000.00. Quite an increase in value, eh? (You're learning how to speak 'Canadian', too!) That's over $50,000.00 in gross profit, for the mathematically challenged (me included!). We sure didn't make that kind of profit in the Stock Market in that span of time.
Now, if that were your Primary Residence (the place you actually live), and you had lived there all that time, you would make that profit tax free. The same profit made on the Stock Market would be subject to regular taxes, which totally sucks, since you were the one to invest in the first place, and you were the one to take the chances, but, them's the laws of the land - what are you gonna do?? That's right, buy Real Estate! Ha,ha!
Buy Apartments or Condos
One of the best bits of financial investment ideas that I ever got was from an old boyfriend of mine, Ben Johnson, the Olympic Runner. (Remember him? Turns out, great guy, bad rap, punished more than any real criminal, very wise business man - funny how the press doesn't focus on that…) Anyway, his idea was to buy 15 apartments and rent them at approximately $1000./month (he lives in Toronto, Canada where the rents are high, if that seems exorbitant to you, or low, if you live in New York, and that seems waaay too cheap! ha,ha!). That would give him a regular 'income' of about $15,000./month, provided that the properties are owned outright. Good idea, eh?
Now, we can't afford that many rental properties, yet, but the idea is a good one. I don't know if he ever actually did that, but he planted a seed in my mind that will allow my husband and I to build a solid foundation for a comfortable retirement.
I happen to be partial to the idea of buying new apartments in a regular Apartment Building as opposed to Town Houses, Duplexes or Single Family Homes, because you don't have to worry about serious repair problems, like a new roof or furnace! Those problems can add up to some serious bills for the Property Owner.
New or well-cared for buildings are unlikely to require repairs within the first five years, and if you purchase in a Condo Development, your renter can pay the Condo Fees, which will cover any major building repairs. You will, of course, be responsible for general up-keep, but even that will be minimal if you have good renters and start with good stuff. If you are reluctant to get into the 'Landlord' game because of the whole 'collecting the rent' thing, you can always hire a Property Management Company. They'll handle everything for you for a relatively small fee.
When you're first looking at Rental Properties, Apartments specifically, try to find one that is relatively inexpensive, and make sure that you are in a financial position to carry all the costs involved if you don't have a renter.
Be careful not to pick up a 'real steal' that needs a huge amount of work - you won't save any money on this one - it could ruin you, financially, too, if there are too many complications in the deal. Again, I prefer new, but an apartment in good repair is fine, too. Only you will know how much you can take on.
Also, check with your Banker or Broker to ensure that you qualify to carry a mortgage on the new property. The Interest Rates are particularly low, right now, so this is a great time to invest in property. The great thing about having rental properties is that not only will you be gaining a perpetual monthly income (the difference between the costs of operation and the rental fee), when you are ready to sell the property, you'll get back all of your initial investment and you'll have the equity spread as well.
If you happen to live in the Property for a couple of years, or so, yourself, then any profit you've made will be tax-free, since it will have been your Primary Residence. Always check with your Accountant to comply with local tax laws. Also, you may be able to hand the property down to your children. Amazingly enough, this is no longer a basic right of a parent in certain countries w
The distance between marketing consultants and the real world can truly be mind boggling. When a marketing consultant tells someone to send out 10,000 postcards in order to get a 3% response rate and that the actual sales will be something less than that ...and then asks the client to pay him for that golden nugget... there has to be a problem!One subject I have heard precious little about is the process of building badwill as opposed to goodwill. When consumers were being ripped from the dinner table by long distance phone companys' telemarketers they did not consider the badwill they were spreading until the no call list came out.I for one have several companies on my "never-do-business-with-list". Is it because they have bad products? No. Are they over priced? No. Do they have a bad
Now, if that were your Primary Residence (the place you actually live), and you had lived there all that time, you would make that profit tax free. The same profit made on the Stock Market would be subject to regular taxes, which totally sucks, since you were the one to invest in the first place, and you were the one to take the chances, but, them's the laws of the land - what are you gonna do?? That's right, buy Real Estate! Ha,ha!
Buy Apartments or Condos
One of the best bits of financial investment ideas that I ever got was from an old boyfriend of mine, Ben Johnson, the Olympic Runner. (Remember him? Turns out, great guy, bad rap, punished more than any real criminal, very wise business man - funny how the press doesn't focus on that…) Anyway, his idea was to buy 15 apartments and rent them at approximately $1000./month (he lives in Toronto, Canada where the rents are high, if that seems exorbitant to you, or low, if you live in New York, and that seems waaay too cheap! ha,ha!). That would give him a regular 'income' of about $15,000./month, provided that the properties are owned outright. Good idea, eh?
Now, we can't afford that many rental properties, yet, but the idea is a good one. I don't know if he ever actually did that, but he planted a seed in my mind that will allow my husband and I to build a solid foundation for a comfortable retirement.
I happen to be partial to the idea of buying new apartments in a regular Apartment Building as opposed to Town Houses, Duplexes or Single Family Homes, because you don't have to worry about serious repair problems, like a new roof or furnace! Those problems can add up to some serious bills for the Property Owner.
New or well-cared for buildings are unlikely to require repairs within the first five years, and if you purchase in a Condo Development, your renter can pay the Condo Fees, which will cover any major building repairs. You will, of course, be responsible for general up-keep, but even that will be minimal if you have good renters and start with good stuff. If you are reluctant to get into the 'Landlord' game because of the whole 'collecting the rent' thing, you can always hire a Property Management Company. They'll handle everything for you for a relatively small fee.
When you're first looking at Rental Properties, Apartments specifically, try to find one that is relatively inexpensive, and make sure that you are in a financial position to carry all the costs involved if you don't have a renter.
Be careful not to pick up a 'real steal' that needs a huge amount of work - you won't save any money on this one - it could ruin you, financially, too, if there are too many complications in the deal. Again, I prefer new, but an apartment in good repair is fine, too. Only you will know how much you can take on.
Also, check with your Banker or Broker to ensure that you qualify to carry a mortgage on the new property. The Interest Rates are particularly low, right now, so this is a great time to invest in property. The great thing about having rental properties is that not only will you be gaining a perpetual monthly income (the difference between the costs of operation and the rental fee), when you are ready to sell the property, you'll get back all of your initial investment and you'll have the equity spread as well.
If you happen to live in the Property for a couple of years, or so, yourself, then any profit you've made will be tax-free, since it will have been your Primary Residence. Always check with your Accountant to comply with local tax laws. Also, you may be able to hand the property down to your children. Amazingly enough, this is no longer a basic right of a parent in certain countries
Cold Water Comments - What They Are and How to Manage Them! Cold Water Comments are those comments, phrases and ideas that are meant to discourage, disparage, discredit and generally douse your ideas! There are several things you can do to keep those comments in someone’s bucket or warm them up once they’ve been tossed. Planning for the Cold Water - With Towels in Each Hand! Step 1 - Identify the Possible Cold WaterMake a list of all the comments you have heard in the past and might expect to hear now. Once you have identified the list, determine how you will respond to each of them. (Remember that at this stage you are trying to sell your idea, not start an argument!) Step 2 - Determine the Source(he lives in Toronto, Canada where the rents are high, if that seems exorbitant to you, or low, if you live in New York, and that seems waaay too cheap! ha,ha!). That would give him a regular 'income' of about $15,000./month, provided that the properties are owned outright. Good idea, eh?
Now, we can't afford that many rental properties, yet, but the idea is a good one. I don't know if he ever actually did that, but he planted a seed in my mind that will allow my husband and I to build a solid foundation for a comfortable retirement.
I happen to be partial to the idea of buying new apartments in a regular Apartment Building as opposed to Town Houses, Duplexes or Single Family Homes, because you don't have to worry about serious repair problems, like a new roof or furnace! Those problems can add up to some serious bills for the Property Owner.
New or well-cared for buildings are unlikely to require repairs within the first five years, and if you purchase in a Condo Development, your renter can pay the Condo Fees, which will cover any major building repairs. You will, of course, be responsible for general up-keep, but even that will be minimal if you have good renters and start with good stuff. If you are reluctant to get into the 'Landlord' game because of the whole 'collecting the rent' thing, you can always hire a Property Management Company. They'll handle everything for you for a relatively small fee.
When you're first looking at Rental Properties, Apartments specifically, try to find one that is relatively inexpensive, and make sure that you are in a financial position to carry all the costs involved if you don't have a renter.
Be careful not to pick up a 'real steal' that needs a huge amount of work - you won't save any money on this one - it could ruin you, financially, too, if there are too many complications in the deal. Again, I prefer new, but an apartment in good repair is fine, too. Only you will know how much you can take on.
Also, check with your Banker or Broker to ensure that you qualify to carry a mortgage on the new property. The Interest Rates are particularly low, right now, so this is a great time to invest in property. The great thing about having rental properties is that not only will you be gaining a perpetual monthly income (the difference between the costs of operation and the rental fee), when you are ready to sell the property, you'll get back all of your initial investment and you'll have the equity spread as well.
If you happen to live in the Property for a couple of years, or so, yourself, then any profit you've made will be tax-free, since it will have been your Primary Residence. Always check with your Accountant to comply with local tax laws. Also, you may be able to hand the property down to your children. Amazingly enough, this is no longer a basic right of a parent in certain countries
The availability of garage packages makes it very easy for you to build your own garage and not have to worry about trying to make up the amount of lumber you need for certain measurements. These packages are available at virtually all locations where you can buy lumber and offer the convenience of including everything you need for the garage. You can choose a single garage with a 9 x 7 garage door or a double garage with one 16 x 7 door or two standard size doors. The package kits contain the lumber, hardware, paint and the plans. All you have to do is have the cement slab ready to start building the garage.If the sizes that are available in the packages for garages, most of the lumberyards will be able to help you design the size of garage you want and supply everything that you need to com
When you're first looking at Rental Properties, Apartments specifically, try to find one that is relatively inexpensive, and make sure that you are in a financial position to carry all the costs involved if you don't have a renter.
Be careful not to pick up a 'real steal' that needs a huge amount of work - you won't save any money on this one - it could ruin you, financially, too, if there are too many complications in the deal. Again, I prefer new, but an apartment in good repair is fine, too. Only you will know how much you can take on.
Also, check with your Banker or Broker to ensure that you qualify to carry a mortgage on the new property. The Interest Rates are particularly low, right now, so this is a great time to invest in property. The great thing about having rental properties is that not only will you be gaining a perpetual monthly income (the difference between the costs of operation and the rental fee), when you are ready to sell the property, you'll get back all of your initial investment and you'll have the equity spread as well.
If you happen to live in the Property for a couple of years, or so, yourself, then any profit you've made will be tax-free, since it will have been your Primary Residence. Always check with your Accountant to comply with local tax laws. Also, you may be able to hand the property down to your children. Amazingly enough, this is no longer a basic right of a parent in certain countries
When the internet first began to be used for online dating many people turned their back on it. There was a certain stigma attached to anyone who used such a site. They were said to be desperate or only weirdo's hung out on such sites. Fortunately with the passage of time these dating sites have gained wide spread acceptance to the point that many of them now advertise their services on major media outlets in TV and radio.In fact there are thousands of singles across the globe who have successfully found a relationship match for themselves using an online dating service. What was once looked as an avenue for the desperate has become the normal main stream way for hundreds of thousands of people to meet one another.The internet has changed the way our lives are lived, not only with the
Also, check with your Banker or Broker to ensure that you qualify to carry a mortgage on the new property. The Interest Rates are particularly low, right now, so this is a great time to invest in property. The great thing about having rental properties is that not only will you be gaining a perpetual monthly income (the difference between the costs of operation and the rental fee), when you are ready to sell the property, you'll get back all of your initial investment and you'll have the equity spread as well.
If you happen to live in the Property for a couple of years, or so, yourself, then any profit you've made will be tax-free, since it will have been your Primary Residence. Always check with your Accountant to comply with local tax laws. Also, you may be able to hand the property down to your children. Amazingly enough, this is no longer a basic right of a parent in certain countries without some one paying massive amounts of taxes, making it virtually impossible… Man, can't wait to live in the States, again!
Our own plan is to pay off our Mortgage on our Primary Residence, then use the money that we would normally put toward the Mortgage Payment to get a mortgage on a Rental Property - an Apartment.
I like the idea of purchasing a number of apartments on the same floor of an Apartment Building, or at the very least, picking up another apartment in the same building. It seems to me that it would be waaay easier to manage properties if they're close together.
Also, we'd like to have an apartment available for each of our children when they are old enough to move out on their own. They could have the choice of having a room mate, themselves, who would pay them directly for their share of the rent. That way, our children could learn first-hand how to be landlords (Man, I really don't care for that term!) and we wouldn't have to worry about where they're living and whether they have any money for groceries! Scoooore!
The other thing that is key to a comfortable retirement is that the properties you acquire before you retire may be paid off before your actual retirement date, if you have one. If you're living well on your regular income (not including the rental income), then you can put a larger portion of the rental income directly on the Principle of the rental property mortgage. This will give you a higher monthly 'income' later.
(I thought this Ad was really funny!! Of course, It's Great to Be A Landlord, so you can still shoot for that!! ha,ha,ha!)
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