Smart Property Investments Can Secure Your Family's Future

If you are an elderly citizen, you can use part of your savings to invest in real estate and if you invest smart, you are likely to earn above average returns on your investments. Although many investors shunned the housing industry after the subprime mortgage crisis of the mid-2000s, the industry is currently showing healthy signs of recovery. On the average, real estate values, rose by 28% in 2011, according to a survey carried out by ActiveRain. The aforementioned report also says that new construction starts are likely to rise by 21% and real estate transactions by about 11%. With some bit of advice from an expert in real estate investment, you too can get in on the act. Even then, here are some great tips

Monitor Foreclosures

The secret of turning a profit from property investments is buying low and selling high. If you have never bought foreclosed homes before, utilize foreclosure-listing services. Of course, being an elderly citizen, you may not have the energy or the time to run up and down your area looking for foreclosure deals. Therefore, use the information provided by firms that provide these services to find properties that you can buy. It is wise to choose houses that require moderate renovations in order to keep the renovation costs low.

Find a Mentor

Unless you have worked in the real estate industry before, do not assume that you know everything. In fact, you should find a mentor with a good grasp of housing industry dynamics. Within a short period, you will gain invaluable insight that would have taken years to master. This is in addition to building a network of professionals in the industry. You can use such relationships to find houses for sale in prime locations before other buyers.

Leverage the Power of Portfolio Lending

Contrary to popular belief, the wealthy do borrow money to finance their business ventures. You too can use the same strategy to build a real estate empire. The trick lies in understanding how portfolio lending works. Normally, mortgage lenders such as banks sell the loans to investment bankers who in turn package and offer them as investments to the public. However, there are certain requirements that one has to meet in order to qualify for a loan. For example, homebuyers have to put up a down payment. This is not the case with a portfolio lender. Because such lenders do not sell the loans to investment bankers, you can borrow as much as 100 percent of the purchase price of a property.

Benefits of Real Estate Investments

Federal Tax Benefits

The idea of paying taxes does not thrill individuals or business owners. One way of reducing your tax burden is by purchasing rental properties. To start with, you can deduct some of your property's value from your income because the Federal government allows it. Secondly, the IRS considers rental income as passive income meaning you do not have to pay self-employment taxes. By keeping more of the money that you earn, you will maximize rental earnings.

Appreciation

This is the increase in value accrued by a property over time. Even carrying out minor renovations can increase the value of your property significantly. Other factors that play a big role in determining appreciation include inflation, supply and demand, as well as economic growth. Avoid the temptation to sell at the first sign of trouble in the housing industry. Over time, your investment will appreciate and return a healthy profit.

All it takes to invest in real estate is a willingness to learn and some bit of capital. Start by finding a mentor to help you navigate the tricky housing industry terrain. It is also wise to monitor foreclosures closely and leverage the power of portfolio lending. The good news is you can sell your properties in the future for a tidy profit and enjoy federal tax benefits as well.

Author Bio
Joshua Turner is a writer who creates informative articles in relation to business. In this article, he offers a few tips in regards to family finances and property investments and aims to encourage further study with MU Real Estate Degrees Online.

3 Tips Retirees Can Use to Budget for a Vacation

You've looked forward to traveling once you retired, and now you're there. Unfortunately, while retirement may free up time, it might also restrict certain expenses. This doesn't mean you can't see the world; it just means you're going to have to carefully plan to make it happen.

1. Consider Travel Options

When it comes to travel, there are some forgotten options that are budget friendlier, and in some ways, a nicer way to go. For example, consider Amtrack, the national rail company here in the United States. The travel itself could be the vacation. But, if trains aren't your thing, there are some very comfortable Greyhound busses that can get you just about anywhere you want to go in the United States.

If you decide to take the great American highway, you can save some money by packing your meals. Too many stops at McDonalds add up quickly. But if flying is your thing, consider internet sites like Travelocity or Expedia. Also, if you travel at odd flying times you can save money. 

2. Plan in Advance

Say you want to enjoy one of the many Caribbean cruises that leave port this fall. Plan ahead and break the cost down — then decide how much you need to set aside each month so that, come vacation time, you're more worried about running out of margaritas than the cash in your pocket.

There are computer programs you can use, not to mention special accounts you can open at your bank, to help you budget and save money. Some people put the change in their pockets into a jar. But it's just a simple budgeting principle to put a bit aside. You probably did something similar when kids were still in the house. During retirement, it will still work the same way.

You might also check on any senior discounts offered at places you visit. It couldn't hurt and it just might save on your overall expenses. But do this in advance, don't take off hoping to find these offers en route.

3. Remember: Where You Stay Affects Eating Options

One of the best parts of the vacation is eating out. Once again, advanced planning can help you meet your budget goals. First of all, decide how much money you will need to eat out during your trip, and save up accordingly. If done right, you can eat out every night if you want to.

Another option has to do with where you stay. If you have access to a time-share condo, they come with kitchens. You can generally buy food cheaper than it costs to eat out, you'll just have to make them yourself and clean up after. This is not as convenient, but could be even nicer and a bit more intimate.

There are really many ways to save on the costs of a trip, or to save up for a great get away. Remember to plan ahead and understand how your planning relates to every step of the trip. The more consolidated ideas you can come up with, the more money you can save.

Want to Get A Loan with Bad Credit? Here are 3 Simple Steps!

Loans (Photo credit: zingbot)

So you have taken a number of loans in the past years in order to manage all those daily expenses and pay off those huge medical bills and utility bills. With such credit crunch and price hikes, it becomes next to impossible to manage all the expenses; and after that, there are always emergencies for which you need to arrange the money somehow. In a situation like this, taking loans is the only solution. Since getting traditional credits from banks or other sources becomes a little difficult as it involves a huge time and the process, too, is time consuming, it is preferable to opt for loans with bad credits from personal lenders. If you are not too sure how to get a loan with a bad credit, here are some simple tips - 

• Apply to Credit Unions - Credit unions are similar in nature to banks but these are owned by people who have something in common, like they must be working in the same industry or they should live in the same geographical location. These are non-profit organizations that pass along its earnings to the members in form of higher customer service and lower fees. Research online a bit to find the credit unions in your locality and give them a call to discuss if you can get a personal finance. Make sure you compare the loans from a number of different institutions in order to ensure that you are getting the best possible loan, with lowest possible interest rates.
• Use a home equity credit - If you have a home or a similar property like that, which can be kept as collateral, you can use that in order to get the loan. Well, it is of course a bit dangerous to keep your house as collateral since it will be seized by the lender, if you fail to pay off the debt in a timely manner. But then if you have a reliable source of steady income, and if you are disciplined enough to pay down an equity line thoroughly, it is really a cheap option to consider.
• Try to get a peer to peer finance – If you can't manage a credit from the sources, mentioned above, you can try to get a credit of considerable amount from this platform. This is a means of getting cheap bad credit loans from a particular individual directly instead of an institution.

4 Challenges to Take on After Retirement

retirement (Photo credit: 401(K) 2013)

You're finally there! You've been working tirelessly for decades, at a nine to five job, because you had to. Now it's time to retire and you can finally do what you've always wanted to do. Take a look at these four challenging things you can have fun doing in retirement.

Travel the World

There's no better time than retirement to travel the world because you don't have to worry about being back on a certain date to get back to work. You finally get the opportunity to see all the places you want to see, whether that is a trip to Egypt, Africa, Europe, or the Caribbean. Depending on how well you saved money for retirement, you can travel for most of the year. 

• Go on a cruise 
• Take a tour with a travel group 
• Take a road trip with several stops 
• Visit every state or every continent 

Take Some Classes

Learning doesn't have to stop just because you've reached retirement. As a matter of fact, it is one of the best times to learn because you can devote your full attention to learning something. Is there something you always wished you could do? Well, take a look at the classes at your community college or find other opportunities in your area to take classes. 

• Learn to decorate cakes 
• Learn how to be a good photographer 
• Get that degree you've always wanted 
• Learn some new dance moves 

Start a Business

Are you one of those people that will never truly retire? If you like to work and want to be your own boss, starting a business in your retirement will help you continue to stay busy. Plus, it will help you out financially if you didn't start saving for retirement early enough. According to Entrepreneurship Monitor, 18 percent of startups are made by people who are 55 or older and 7.9 percent are 65 or older. That's no surprise since older people have more business experience and know what it takes to be successful. The best businesses for retirement are those that are fun and rewarding. 

• Start a restaurant with gen2 cooking equipment
• Tutor children 
• Become a travel agent 
• Provide consulting services with your years of expertise 

Spend Time on a Hobby

Some people never have the time to learn a hobby until they retire. There just isn't enough time in the day to go to work, take care of your kids, and handle all your other responsibilities. So, retirement is a great time to learn a hobby because you are finally able to stay at home. The best hobbies are those that keep your mind active. 

• Start a blog 
• Learn how to paint 
• Sew or knit for your grandkids 
• Start a collection 

These are just a few of the challenges you can take on after you retire from your job. There are many more things you can do, too. What do you want to accomplish in retirement? Leave a comment.

New Technologies Keeping You Organized With Your Finances

Finance (Photo credit: Tax Credits)

It is very important to make use of accurate systems in financial management since this is the only way you can achieve financial freedom. A proper system can in its most basic sense, be compared to a car engine; a car may look sleek and have the perfect color, but it cannot take you anywhere if the engine is malfunctioning. Likewise, you may be making millions, but if you do not employ the right system of finance management, what you earn will be just about meaningless --it will not help you get where you want. Keep in mind that when it comes to finances, it can never be too early or too late to get things in good standing. 

Five applications that can help you take effective control of your finance 

Credit Karma 

This is very useful software that helps you gain access to your credit scores and also facilitates credit monitoring. Credit scores essentially represent how well or not you utilize your credit, and a high score always works to your advantage. It's thus important to continuously work toward achieving and maintaining those high numbers and credit karma can help you make your way there. However accessibility of this application is limited to an iPhone. 

Mint.com 

Sometimes you may just need to get a visual representation of how your finances are adding up, and mint.com can help facilitate that. With this application, you can compare your credit card debts with the cash you have in hand, so that you can subsequently determine how to settle the debt. It also helps you see how much you spend based on the budget you have set. 

Expensify 

If you need a reliable way through which to keep all your receipts, this application makes a good alternative. You can use it to get your credit cards and receipts linked so that they are easily reachable from one spot. This will make you stay on top of your expenses so that you make your payments on time. 

Financisto 

Financisto is an android application that enables for a user to control multiple accounts. If you are an international business person, it can be a very helpful application since it enables you to manage numerous currencies. In addition it makes possible for you to move money into different accounts, so that you have the cash exactly where it's needed. You can also create back-up data which you can then save in Google drive or drop box. 

Nickel Tracker 

If you experience difficulty in sticking to the amount you have put down on your monthly or weekly budget, nickel tracker can enable you to take charge of the matter. The application sends you an alert when you are almost reaching your budget limits, and this helps ensure that you do not overspend. 

The availability of advanced technology has contributed to the easy access of such applications; it's certainly a good way to keep track of every coin and doing it the right way can greatly help you take control of your financial life. 

With a good system in place, you can figure out where to direct more of your resources, and also determine what you have achieved so you get to establish the amount of extra effort to put in. The advantage of these applications is that they can be easily accessed no matter your location, and they are also easy to use, as long as you make use of a compatible gadget. The fact that they are free is just a bonus since you do not have to worry about incurring extra running costs. Technology is undoubtedly one really efficient process in the management of finance. 

Author Bio 

Joshua Turner is a writer who creates informative articles in relation to business. In this article, he describes a few organizational technologies for finances and aims to encourage further study with a UAB online bachelors in MIS.

When Business Matters - Is it Better Not to Include Relatives in a Business?

I have several friends who have their own businesses. Some of these friends of mine come from really big families and it is already expected for my friends to help their relatives by giving them jobs. While I think it's a great idea to help your family, there are a few exceptions though. One of my friends complains that her nephew does nothing but slack off during working hours. My friend felt that just because they're relatives, he can just slack off and not work properly. This friend of mine has loads of problems already and she felt that if her nephew does not change his ways, she will have to fire him. And when this does happen, I'm pretty sure their relationship will get ugly in the future.

This made me think deeply. I do have plans of building my own business and there will be a time when I will have to employ some of my own relatives as a way of helping them or to save costs in employment. However, I surely don't want to experience the kind of problem that my friend had. Is there a way for business owners to not have any problems with their relatives working for them?

Recognizing their Roles

When getting relatives as an employee, they have to remember one thing; that they're working for you and that you are paying their salaries. They will have to understand that you have to work hard for their salary and that you're willing to deduct their salaries if they don't show up for work. Besides, you have a business to run and slackers are definitely not allowed in the company, even if they're relatives. The fact that you're a relative to them makes them feel that they can do whatever they want, since you'll just turn a blind eye to their mistakes. Make sure that this does not happen.

Mistakes will always be mistakes

This rule is especially true in a business setting. Whatever mistakes that an employee has committed, there should be a disciplinary action - most especially if the employee is a relative. I remember one particular story where one California car title loans employee made a mistake during work time. Of course, this particular employee is the cousin of the company owners, so she did not do anything about the problem. That is, until the owner of loan company noticed that something was wrong because of a customer complaint.


The lesson here is to make the relative/employee realize that you mean business. And business needs utter dedication and hard work. Period.

Recognition goes a long way

Recognizing your employees for a good job done is one way of thanking them for working their hardest. Some managers or business owners no longer appreciate their working relatives because of the fact that they are expected to work properly. This makes them feel under appreciated and will start slacking off.

While it's incredibly hard to become a good manager and a good family relative, you will have to learn that while having a good relationship with either a nephew, a niece, a brother, a sister, or a relative is important, your business should always come first. It will be unfair to the rest of your workforce, especially if they're the ones working the hardest.

About the Author:
Jessica Greenberg is an avid blogger from San Diego, California.