Archive for the 'General Real Estate' Category
We are all too familiar with the sobering statistics on marriage. Around 50% of marriages end in divorce, and oftentimes the root of all that unhappiness is money.
But there’s some good news on the horizon. According to a recent study by Ameriprise, “a remarkable 77% of American couples report they are on the same page with their finances.”
How will the real estate market be impacted by Donald Trump’s victory and Republicans controlling both chambers of Congress?
Though Mr. Trump is a real estate man, his policy platform has been largely vague on real estate proposals. Here are my thoughts on how certain real estate issues may play out under President Trump and of their potential impact to consumers.
1. “Identify your problems but give your power and energy to solutions.” — Tony Robbins
2. “You live longer once you realize that any time spent being unhappy is wasted.” — Ruth E. Renkl
3. “The only true wisdom is knowing that you know nothing.” — Socrates
4. “If you are not willing to risk the usual you will have to settle for the ordinary.” — Jim Rohn
Children learn by asking questions. Students learn by asking questions. Investors learn by asking questions. People who think that they know it all no longer ask questions – why should they?
The most successful people in life never stop asking questions because they know it’s the best way to gain deeper insights, solve problems, and achieve greater success.
The number of people considered to be ‘High Net Worth’ (those with assets of more than $30 million) is predicted to increase by 95,000 over the next ten years. With this in mind, it is expected that a growing number of people will be dipping into the luxury real estate market. So where countries hold the most expensive real estate in the world?
Regardless of where you choose to invest, there are two opposite ends of the investing spectrum when it comes to your involvement and required resources.
Do-it-yourself real estate investing puts all the risk and responsibility squarely on your shoulders. Typically that involves everything from sourcing the property, acquiring it, funding it, renovating it, managing it, selling it, and coordinating every other step in between.
What has always fascinated me about real estate investors is how differently we analyze rental properties. While we all use (mostly) the same ratios and numbers, the sheer number of available calculators, spreadsheets and other analysis tools is incredible. And it often takes a lot of trial and error to find the method or tool that works well for you.
I was honored to be invited as a guest on the FlipNerd Real Estate Investing podcast show with host Mike Hambright. (You can listen to the episode below.)
Mike has a great podcast with lots of interesting guests, ideas and tips. I had a lot of fun being on the show. It is a “must listen” podcast for new and seasoned real estate investors.
On the show we discussed in some detail each of my 10 Rules of Successful Real Estate Investing. We also covered a few other topics as we went off on tangents. Be sure to listen to the show.
Once again, I was honored to be invited back as a guest on the Investing Coast-2-Coast radio show with Pete Asmus and Ivan Oberon.
These two guys broadcast a great daily radio show and have a ton of fun doing it. It is a “must listen to” radio program for new and seasoned real estate investors.
On the radio show we went into depth on each of my 10 Rules of Successful Real Estate Investing. We also covered a few other topics as we went off on tangents. Be sure to listen to the program.
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When most of us think of investments we think of the stock market, maybe our retirement fund, and maybe that “business opportunity” last year with a colleague. It is easy to describe investments one-dimensionally; something we invest money in today that we intend to sell for a larger sum years later.
Investment real estate however builds wealth simultaneously four ways:
Incomes are dropping. And that’s not good for the real estate industry, nor is it good news for the American Dream of home-ownership. More Americans view themselves as slipping out of the middle class according to a recent survey by the Pew Research Center.
The trend began in the 1970s, Pew claims, but it has accelerated since the Great Recession. In the past five years, the percentage of Americans who consider themselves middle class has fallen sharply, dropping from 44% in the latest survey from 53% in 2008. 40% now identify as either lower-middle or lower class compared with just 25% in February 2008.
As entrepreneurs find success with their primary business ventures, many search for the right investments for their profits.
Of course, we can and should all start traditional tax preferred vehicles like an IRA and 401k. These are the bedrock of good ‘benefit’ planning for ourselves and our employees. I’m also convinced more entrepreneurs should consider rental real estate as an important part of their portfolio.
I realize many business owners shrug off this concept after the recent downturn in real estate values, but let me list a few reasons that may change your mind:
Many new homeowners are looking for ways to save on their home insurance. Although some seem obvious because they are so highly advertised (bundling with auto, shopping online), there are others that are more subtle. You can get discounts on your home insurance just by making some minor changes to your home. Here are some of the things that you can do to help lower that insurance bill.
Real estate investments can generate free cash flow and also act as a shoreline defense. Today’s often changing market experiences rising inflation and threats of violent market downswings. Real estate investments can strengthen your portfolio and steadily build more wealth.
In other words, real estate investing and property holding influence and bolster a portfolio’s performance in alternative ways. Real estate serves as a hedge against inflation, for example, and it provides stable returns even in a faltering market. The following main points summarize why individuals with larger portfolios should invest in real estate.
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I came up with the following rules of successful real estate investing over my many years of successes and failures. These are the same rules I follow today and share with our clients at Norada Real Estate Investments.
1. Educate Yourself
Knowledge is the new currency. Without it you are doomed to follow other people’s advice without knowing if it’s good or bad. Knowledge will also help take you from being a “good” investor to becoming a great investor, and that knowledge will help provide a passive stream of income for you or your family.