Archive for the 'General Real Estate' Category
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.
Before you apply for a mortgage loan modification, it’s important for you to understand the lender guidelines and whether or not you qualify one.
A mortgage loan modification is an adjustment to your mortgage by your lender with the intention of co-operating with you in situations where you are having financial difficulties. The objective is to make your loan more reasonable, taking into account your present financial condition so that it becomes manageable for you.
Before you make a decision to pursue a mortgage loan modification, you must determine whether you are eligible and fall under the guidelines of a mortgage loan modification.
I know a lot of people who couldn’t care less about Donald Trump. I happen to like him. Not because of his wealth but because of his mind set for success. But whether you like him or not, there are very few people who could disagree with his rules of Success.
Here’s Trump’s complete top 10 list he gives when speaking at colleges:
- Never give up! Do not settle for remaining in your comfort zone. Remaining complacent is a good way to get nowhere.
- Be passionate! If you love what you’re doing, it will never seem like work.
- Be focused! Ask yourself: What should I be thinking about right now? Shut out interference. In this age of multitasking, this is a valuable technique to acquire.
- Keep your momentum! Listen, apply and move forward. Do not procrastinate.
- See yourself as victorious! That will focus you in the right direction.
- Be tenacious! Being stubborn can work wonders.
- Be lucky! The old saying, “The harder I work, the luckier I get” is absolutely right on.
- Believe in yourself! If you don’t, no one else will either. Think of yourself as a one-man or one-woman army.
- Ask yourself: What am I pretending not to see? There may be some great opportunities right around you, even if things aren’t looking so great. Great adversity can turn into great victory.
- Look at the solution, not the problem. And never give up! Never, never, never give up. This thought deserves to be said (and remembered and applied) many times. It’s that important.
And there you have it!
Welcome to what we expect will become the definitive blog on real estate investing!
Our approach will be a little different than most other blogs. In addition to interesting topics related to real estate investing, we also plan to include our insights and answers to questions submitted by you! Simply use the form on the top right.
Norada Real Estate Investments is doing some great things to help make your investing easier and more profitable. So subscribe to the RSS feed, and check back often as we kick-it off and grow.