What Excuse Do you have for NOT Investing in Real Estate?
Just found a funny list about the excuses people use in blocking themselves from investing in real estate.
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Have been thinking about investing
Have been reading about investing
Have a friend who had done well investing (The elusive friend)
Are saving for a down payment
Waiting for rates to go down
Waiting to finish their real estate course
Waiting for their mentor to tell them to buy
Waiting for summer (insert any season)
Waiting for the market to straighten out
Waiting till they can afford it
Waiting till they get a promotion
Waiting till their friend or relative can partner with them
Trying to read just one more book
Waiting till they buy their own house
Waiting till they get a raise
Waiting to graduate from college
Waiting till their friend or family member becomes a realtor
Waiting to be married
Waiting till they contribute their maximum to a 401k
Waiting till they get done working on their own home
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Besides that, there are another group of people who always think:
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What happens if the toilet gets clogged?
What happens if the furnace gos bad?
What happens if tenant ruins the house?
What happens if the roof leaks?
What happens if the tenant doesnt pay?
What happens if someone breaks a window?
What happens if someone leaves a broken down car at the house?
What happens if I dont start investing now?
How many homes do I need to buy in order to retire comfortably?
If you could share with me your best idea, what would it be?
What kind of money am I leaving on the table by not investing?
How does the stock market compare to real estate? (that doesnt even deserve an answer)
How can I use real estate to make my dreams come true?
What would I do with an extra $500 or even $5,000 a month in cashflow?
How will my family react when I retire 10-20 years earlier?
What are my broke friends going to think when I show up in my Porsche?
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Do you know anyone is one from the group?
Source : Bigpockets.com
118 Ways to Save Money in College
Many surveys and reports tell us that typical college student is either broke or financially hanging in the balance most of the time. The first reason I can see is they don’t have a good money management habits. Yes I knew that there are certain college students who know how to manage their money, but the problem is sometimes even with scholarships, grants and loans, they also hard to pay their way through college.
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Sholarships Around the US seems to know something about this and assemble 118 of both practical and creative ways to save money in college.
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The total 118 ways is divided to 14 categories for you to read. Here are the categories:
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- Managing the money you have – 7 tips here to teach you how to manage your money from banking to budgeting.
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- Alcohol – You love some drinks? 5 ways here to help you save money in Alcohol.
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- Books – A must expenses for a college student. So why don’t you learn the 4 tips here and save your money?
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- Food – 14 important tips to let you save from these human important expenses.
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- Computer Hardware and Software – Not many college students can survive without their own computer. Begin by shopping wisely following the 10 tips in this category.
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- Entertainment – Relaxation is important for you to succeed. 17 advices for you.
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- Off Campus Apartment living – 9 tips here to help you stay in budget living off-campus
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- Shopping – 12 tips to show you where, when and how you should go shopping to save money.
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- Transportation – 4 saving tips in transportation
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- Travel – When you have to travel from point A to point B, try 6 tips in this section to make a better choice.
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- Cost of Communication – 7 tips to prevent you from running into steep monthly costs
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- Personal Expenses – 7 tips to save up from toiletries, personal grooming and laundry.
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- Exercise – No matter you involved in an athletic program or get an athletic scholarship, you need 7 tips in this category.
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- Make a few Bucks – Not enough money? 8 ways for you to make some money from your part-time.
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Although the 118 ways to save money in college is about student in college, but if you modify the theories there, it also can be used in our life. Saving Money is a must for you to have a more secure, comfortable life. If you going to start your business or investing, your saving will be your modal to start.
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PS: This post was sponsored but the ideas there are good for your personal finance.
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Source : 118 ways to save money in college
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Some Reverse Mortgage information that I collect from Internet
When I do research on “Financial Freedom†I found that many sites are talking about Reverse Mortgage and some even emphasize that “Achieving Financial Freedom through Reverse Mortgageâ€Â. Since my blog is about financial freedom, I decide to run a research on reverse mortgage and see whether it really can help us financial free.
1. A Home owner that 62 or older can borrow some money from home equity, this is what we called Reverse Mortgage.
2.  Interest isn’t due until the homeowner dies or move out.
3.  The amount a borrower can get depending on the borrower’s age (with couple, it depends on the youngest), the home value, the interest rate and how the money is take out.
4.  Common uses on Reverse Mortgage is covering the living expenses or for home improvement.
5.  95% of reverse mortgage are insured by Federal Housing Administration.
6.  Under FHA’s Home Equity Conversion Mortgage Program, borrowers can get their money:
a) As a lump sum
b) As a specified amount every month for a fixed period such as 10 years
c) As a specified amount every month until they die or permanently move out of the house
d) As a line of credit
7.  Closing cost of reverse mortgage include an origination fee of 2 percent of the home’s value and a mortgage insurance premium of 2 percent of the home’s value
8.  After the death of the borrower, the loan is repaid from the proceeds of the sale of the house.
Resources: Bankrate.com
