7 Tips To Make Money Out Of Your Property

November 13, 2017 By
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If you’re stuck in a tenancy agreement and desperate to improve your savings to be able to afford the deposit that will make you a homeowner, it’s likely that you think of homeownership in terms of freedom, and in terms of an investment in your future. But for anyone who’s a homeowner, the sense of freedom might not be as exhilarating as you first imagine.In fact, owning a property can be an extremely costly matter that most people struggle with. There’s not only the mortgage repayments to take into consideration. When you buy a property, you are responsible for the maintenance of the place. If you remember your tenant’s days, maintaining a property was something like sweeping the floor regularly, taking the bins out and making sure that you didn’t set the kitchen on fire. As a homeowner, maintenance also includes necessary renovation and improvement works, as well as a home insurance that covers your belongings and your walls and roof. Needless to say that when the boiler goes, you need to pay for a new one, instead of calling the landlord and asking for a repair. And that can rapidly accumulate into large expenses.  Consequently, it’s no wonder that for most, the idea of ownership doesn’t go well with getting rich. But there are nevertheless ways in which you can make money out of your property.

4040181094_b5c3e179b2_bMake the most of your property

Change your loan agreement

Month after month, year after year, you pay back your mortgage. However in the current economic climate, it can be difficult to make the payment on your home loan, and that exactly why some owners wonder about their home refinance options. Basically, refinancing means that you choose to get a new mortgage to replace the original loan. Why should you consider this strategy? Simply because you can borrow using a better interest rate and rate. Assuming you’ve got a good credit history, it’s the perfect way to reduce your monthly repayments, and therefore save money. One word of warning, though: People with a poor credit score or too much debt will find refinancing a risky strategy and should stay away from it.

Buy to let

Homeownership doesn’t mean that you have to own only one home. If you’ve made the most of a low housing price, then it’s likely that you might have bought more than one properties. In that case, you’re in a good position to consider letting the places you don’t live in. However if you want to become a successful landlord, you need to be careful about the tenants you choose. But with the right approach, you’ll be able to build a productive income. For a start, no tenant wants to live in a property that hasn’t been maintained, so you need to make sure that the house is fully cleaned and in ideal conditions when you put it on the market. Make sure that you stay on top of all Health & Safety requirements, namely smoke alarms, safe kitchen appliances if you choose to let a furnished or semi-furnished property, and overall structure. Finally, you should leave the tenant search to a professional, a letting agent.

Make the most of that free room

So what if you’ve got a free room in your home? You could consider letting it at the best price, say for holidaymakers. That’s exactly what Airbnb is about. The platform puts you in the driving seat and lets you pick your tenants for a weekend, a week or a month. Joining is free, so you’ve got nothing to worry about. However, as a host you will need to create a detailed profile, adding a picture and ensuring that Airbnb can verify your identity. All you need to do then is to list your space, include its availability as well as the location. Then it’s all in the description and the pictures you show of the room! Good luck!

Ever heard of house flipping?

If you’re enthusiastic about house auctions, then you might have heard about house flipping. In simple terms, house flipping is the process of buying a house at a bargain price and reselling it at your advantage. What does it require? Smart renovation strategy and a lot of attention to details, especially to capture the market fluctuations and make the highest profit. You might need a lot of DIY skills to keep renovation costs low and also a good sense of what people need and want.

Declutter and sell

A minimalist lifestyle is for a lot of homeowners a decor interior design. Admittedly, a minimalist interior provides space and freedom of movement within your property, especially by focusing on decluttering your rooms. But instead of throwing away everything you don’t need anymore, you could sell it at a good price and make money out of the unwanted items in your home. You can list your items on eBay, Craigslist and Bookscouter, but before you do so make sure that they are in good condition. Unless it’s a rare collectable, nobody will want an object that is damaged or stained.

How about opening a B&B?

If you’re a stay-at-home mom, or if you work at home, you may want to consider turning your home into a B&B. Naturally, you will need to have a home with several unused rooms that can be transformed into bedrooms and bathrooms for your guests, as well as invest in professional kitchen appliances. Is it worth it? Yes, if you can create an exquisite service and decor!

Help someone who needs it

If you have a free room and want to make a difference, you can apply to become a foster parent. With over 400,000 children in the foster care system, you can help to change a child’s life for the better. The allowances for foster parents may not make you rich, but they are sufficient to take care of a child. After all, you can get rich emotionally too!

Your property might be expensive to maintain, but it’s not without value. All you need to do is identify its specific value and maximize it, for monetary or emotional return.

 

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5 Ways to Ensure That You Always Get What You Are Owed

October 4, 2017 By
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If you are someone who likes to take good care of your personal finances, it is likely that you are always looking to get the best deal for your money. It is also likely that you are incredibly cautious about being cheated out of money that you are owed. This is a very sensible attitude to have. In order to secure yourself a bright future, it is vital that you protect your wealth. If this is one of your top priorities, you will need to read on. Below are five ways to ensure that you always get what you are owed.

Remember to read the small print

Whenever you make a purchase, especially if it is online, you should remember to read the small print. Often, companies will bank on you failing to do so. Those with dubious morals will make the most of the opportunity to cheat you out of your money. They may also try to undermine your rights as a consumer. Reading the small print will ensure that you are always on the lookout for any dodgy deals. Not only this, but it could help you if anything goes wrong. The small print may let you know how long you have to return an item. It could also help you to decide between competing deals. While one product may be much cheaper, it may not have any other advantages. However, there could be another, more expensive product that provides you with better protection. If you really want to stay on top of things, make sure that you have a folder where you store all of your consumer information. Keep hold of every leaflet, every receipt, and every information booklet. That way, you will always have the information that you need.

Don’t be afraid to ask for a pay rise

Another way to ensure that you are getting what you are owed is by asking for a pay rise. If you do an amazing job and really put the hours in, make sure that this is not being overlooked. Keep an eye out for what other people in your profession are getting paid. If someone in a similar role is getting paid a lot more money, at another company, you could point this out to your employer. Equally, if one of your work colleagues is on a higher pay package, you should think about whether or not this fairly reflects the amount of work that you both do. Don’t be afraid to ask your employers for more. They are likely to be impressed by the fact that you value yourself highly and take pride in your work. Why not create a plan that details all of your career aspirations? Work out what you would like to be earning in the future. This will help you to take an objective look at your wages. It will also help you to feel more confident when you are entering into negotiations.

Look out for places where you can haggle

If you always buy items at full price, it is time to embrace the concept of haggling. This is a fantastic way for you to save money. It is also the fastest way to find out what a product is truly worth. Companies will often mark up their products to make a huge profit. Even small businesses could be making a fortune out of your willingness to pay full price. That is why you need to look out for great places where you can haggle. You could visit a flea market, an antique fair, or a second-hand store. You should also look for small boutique shops where you are more likely to be able to speak to a manager. While hired members of staff may not be able to offer you a discount, you will make more headway if you speak to the person in charge. If you are embarrassed by the thought of haggling and could do with some practice, why not start online? You could visit eBay and contact sellers directly. Try out a few different approaches and see which one works best for you. You might be surprised by just how much money you can save.

Make sure that you always stand up for your rights

If you hate conflict, you may find yourself regularly letting things go. When something is totally out of your control, this is the best approach to take. However, if there is still something to be done, you must never give up. If you want to protect your personal finances, it is vital that you always stand up for your rights. For instance, if you have been sold or rented a dodgy vehicle, you should not be expected to shoulder the cost of repairs or replacement. Instead, you should seek justice. Neale & Fhima, LLP will help to make this happen. If you have given someone your hard earned money, you deserve to get what you have paid for.

Shop around for the best deal

Whatever you do, don’t settle for the first offer that you find. Instead, shop around for the best deal. This will help you to ensure that you are always getting what you are owed. For instance, if you review your monthly bills and find out that you are spending more money than you would like, you should look around for a new provider. Even if you are not serious about switching, it is still worth letting your current provider know that you have other options. They may offer you a better deal in an attempt to compete. You should also take this approach when you are making smaller purchases. Whenever you enter a negotiation, you should do so with the willingness to walk away. People will try to cheat you out of money if they think that they are certain of a sale. However, if you appear undecided, they are more likely to try and impress you.

 

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Selling Your Car Case Study: 5 Things That Can Go Wrong When Selling Your Car

September 21, 2017 By
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Having a desire of selling your car with ease and not face any troubles after?

Then check out this in-depth analysis that shows you exactly things that can go wrong when selling your car and how to avoid them.

1. Forums where you will list your car for sale.

The majority of first-time car sellers end up having their cars paraded in wrong forums, and they end up not selling them, or if at all they sell them, then it would have taken them a lot of time.

Best online forums will always ensure you always get a ready group of interested and very informed potential buyers.

The mistake of getting your car advertised in wrong forums will always lead to the car meeting the wrong and uninformed group of individuals who don’t even know the value of your car.

On the other hand, the online enthusiast will always understand the value of your car.

Most legit forums where you can sell your used car include websites such as AutoTrader.com and eBay Classifieds. The eBay classifieds are free while the others are not.

The technology world has made it easy for connecting people using the various social media platforms such as Facebook and Twitter.

Through these platforms, you can always get legit groups where you can place your ad, and you can also let you circle know that you are selling the car.

You can also ask your friends and your contacts to help in spreading the word. You will be surprised on how fast your car will sell.

2. Informing friends and relatives that you are selling your car.

Well, this is one of the places where most of the people selling cars go wrong.

The car you might be selling might be the pride of your family and your friends. There may be various history that the car might be holding you and your friends.

I mean, it is part of their lives.

Most of the people selling cars end up selling them without informing their friends or families.

This is however very wrong.

You have to prepare them psychologically that you are selling the car and let them understand the reasons why you have decided to sell the car.

Ensure they understand and even support your decision on selling the car no matter how hard it might always be.

Telling your friends that you are selling the car might be a marketing strategy itself. You would be surprised with how many people often sell their cars to their friends and relatives.

The truth is that among the circle of friends that you always have or the individuals you have in your family, there is always one of them who is always attracted to your car.

He/she might turn out to be the potential buyer. It’s therefore always wrong not to tell your friends that you are selling your car.

If at all you have kids, always understand that they are vulnerable. Tell them politely on your plans and always assure them of your plans of getting a better car if at all you have the plan.

3. Honesty when selling your car.

It is always wrong to feed the possible buyers wrong information of the car you are selling.

Most of the people give wrong information to clients because they fear that the correct information might reduce the value of your car.

However, you will always need to give out the correct information during the sale to avoid having troubles and frequent follow ups from the buyer.

Giving out the clear information and being honest with the buyer will cultivate up to a mutual understanding between the buyer and you as the seller.

The worst mistake you can ever make when selling your car is pretending that it is 100-point show queen.

The simple psychology will always tell the buyer that you are lying and worst enough when they see little weaknesses such as the rusts or scratches.

No matter how hard it will always appear to be, always give out various information about the car that could not have fitted the ad.

Be free and open to the potential buyer.

Give information on whether the car had been repainted previously, if it had any major or minor accidents before, if they leak any oil, if the car needs an alignment, if you have experienced any intermittent or long term faults and if the car has ever undergone a major repair work.

Always learn that honesty is the best approach.

This might be challenging since it will send many of the buyers down the road but you have to worry not because the credibility you would have made with the few potential buyers will always make them prefer you over the other private sellers.

4. Legalities of selling your car.

When selling cars majority of the car sellers prefer shortcuts when selling the car.

This is very wrong since the shortcuts will always lead having problems with the administration. Sellers have always been selling their cars without following the right process.

May private car sellers are never accompanied with the proper documents when they need to sell their cars. The variety of records that you will always need when selling your car will depend on the state you are coming from.

In an area like San Diego, you will need the California Certificate of Title and a smog certification if your car is more than four years old. Once you are ready to complete the transaction with the buyer, you will need to provide a bill of sale.

A bill of sale may not be very complicated, but it must always contain basic information such as name and address of the seller, buyer’s name and the addresses, vehicles identification number and the descriptions of the vehicle that is being sold, the odometer mileage reading, scales amount and the actual date of transaction.

After you have received the payment and you are certified that it is in your account, ensure you complete the area on the back side of the certificate of title to transfer the title to the new buyer of the car.

The customer will require the certificate of title and the bill of sale to transfer the title to their names.

These documents are always vital, and it would be wrong to omit them when making a sale of your ride.

5. Cutting the cord and removing yourself emotionally from the car.

Most of the people are attached to the vehicles they own.

According to a survey, 70% of the car owners usually feel somehow attached to their cars. Parting ways with your car are always the hardest thing that a person can always encounter. It would be hard if you had most of the historic moments with the car.

However, it is always wrong to always show how attached you are to the car once you have sold it. You have to admit that it is no longer your property.

Once you have already sold the car, you should cease from disturbing the buyers by asking them frequent questions about the car and how it is faring on.

You should also avoid making the buyers promise to send you the pictures of the vehicle often instead you can have an album where you can keep the pictures of the car.

Asking for pictures will always piss them off.

Once you are done with sobbing and drinking the pain of selling your adorable ride, it is advisable to remove yourself emotionally from the car.

This should be done before you meet the buyer and most probably when you have made up your mind that you are putting it up for sell. Through this, you will sell your car faster, and you will get a better price for it.

The best way to remove yourself emotionally from the car is by pretending that it’s no longer yours immediately from the time you have put a “For Sale” sign in the window.

A reminder of the ‘dos’ and the ‘don’ts’ when selling your car.

  • When you have a ready buyer, you should ask them their details as proof of their identity. If they are unwilling, always tell them to sign the seller’s contact.
  • Don’t hand over any paper work until full payment of the car you are selling is done. After you have sold the car, call the DVLA and tell them that you are no longer the owner of the car.
  • Give the car to the car buyer only after the money is on your account even if it means waiting for a few days for the cash to be released. If its cash, ensure you count the money. Always take your time to count the cash after selling your car and ensure it’s the correct amount before completing and signing the deal.

With these few tips, I hope you are now well equipped to sell your car without having necessary things going wrong and encountering problems during your sale. I hope I have saved the day. Enjoy!

 

 

 

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4 Choices That Will Save You Money in the Long Run

September 20, 2017 By
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In life, it is impossible to predict the challenges that you will face in the future. However, it is always possible to be prepared. By making good decisions now, you can have peace of mind when it comes to thinking about the future. One way to achieve this is by considering your finances. Make sure that you are constantly on the lookout for ways to save money. You may really appreciate your efforts further down the line. If you are looking for inspiration, you will need to read on. Below are four choices that will save you money in the long run.

Investing in property instead of renting

Even if it means that you are not able to live in your ideal location, you should definitely consider investing in property instead of renting. By investing in property, you will ensure that all of your money is going towards something that you actually own. Not doing so could make it increasingly hard for you to get on the property ladder. However, renting property is a suitable alternative if this is your only way to secure a good job. The important thing is to have a time limit on how long you are going to rent for. It might be a good idea for the first few years of your career, but eventually you should begin to look for permanent accommodation.

Thinking about the environment

Going green is a great way to save money in the long run. It will also help you to feel more positive about the impact that you are having on the environment. One important step that you need to take is to install solar panels. This will significantly reduce the cost of your energy bills and increase the value of your property. Not only this, but if you produce enough energy, you could actually sell it to the Government. Along with your solar panels, you should also remember to turn off all your appliances, invest in LED light bulbs, and effectively insulate your property.

Choose the right vehicle

When it is time for you to upgrade your car, it is important that you choose the right vehicle. Try to find a model that is inexpensive to run, as this will help your long-term finances. For instance a Used Polo Vivo will provide you with a reliable car that has extremely low running costs. Instead of losing all of your money to fuel, you will be saving money on a regular basis.

Don’t forget insurance

Whatever you do, make sure that you don’t forget insurance. By investing now, you will be able to protect your finances further down the line. Insurance is the best way to know that you will always be able to afford your lifestyle. If you don’t prepare for the future, you are leaving your finances vulnerable. Take a look at your day to day life and consider the kinds of insurance that you will need. Compare all of the providers available until you find the best deal.

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Here’s The Financial Relief You Need

September 19, 2017 By
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Are money troubles getting you down? You’re not alone. There are millions of people all over the country right now who like you are struggling with difficult financial situations. Some are swimming in debt and others are looking for ways to pay the monthly bills without borrowing. Luckily, there are some easy ways to stay on top of your finances and avoid a nightmare. With this advice, you should be able to completely avoid any issues with your finances.

Stay Lean And Green

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The first part of looking after your finances is making sure that you are keeping your family budget lean. This means that you need to avoid overspending in areas shopping or bills. You can do this by budgeting your weekly shop. A great way to do that is to create a meal plan. A planning board will cost you a couple of dollars for sure but from there on you’re going to be saving a lot of cash. By planning your meals in advance, you’ll know exactly what you need to buy, and you can avoid paying for other items that seem like good deals but that you don’t really need.

You may also want to think about keeping things green. There are some great tech possibilities for people who want to keep their home green and free from expensive bills. As well as this, look into the possibility of renewable energy. These days, it’s possible to get solar panels installed on your roof to create your own energy rather than bothering to pay for it at all. It’s a great way to save an absolute fortune on your home bills. A lot of people are put off by the first fixed cost. But if you can get over that you’ll soon be saving a lot of money, without even trying.

Already In Money Trouble?

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If you are already experiencing issues with your finances such as unpaid debt, you need to look for ways to get back on track. You might owe money in various different areas of your life, including on the bills, on mortgage repayments and on private loans such as credit cards. These will be easier to handle if they are one sum of money rather than several. With homeowner debt consolidation loans that’s a possibility. Using your home as equity, you can reduce your debt into one easy to pay the amount and ensure you can afford to pay the cost each month with no trouble at all.

Alternatively, you may want to use your assets to escape existing debt. Don’t forget, minimalism is in style right now. So by selling and decluttering you can pay off your debt and improve your home without losing a step.

Making Things Easier

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Of course, the best way to make things easier for yourself financially is to ease the pressure on your finances. The problem for most families is that there are too many bills coming out of the account each month and enough money to cover it. You can rectify this situation by setting up a secondary passive income. Even small investments will help ease the pressure on your accounts each month.

Using this advice you can easily avoid stressing about money in the future.

 

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Organizing Your Money

September 14, 2017 By
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Money is one of your biggest stresses right? There is always a bill about to go out, and you don’t know how you’re going to make your paycheck stretch to cover it, right? Well, it doesn’t have to be. By getting properly organized, you can have a stress-free money system that takes minimal effort. These tips work for everyone, high-earners and low, debt-free and in-debt.

If you’re in debt, then the first thing you need to do is get it under control. You can do this in a few ways; stop using credit cards and stop any frivolous spending. Look at your income and outgoings and work out how much money you have extra each month, and only spend what you can.

Look at how many debts you have and when all the payments need to be made, can you request a new billing date to match up with your pay-day, or would spreading them out be easier? Or would one bigger bill each month work best for you? Sites like click this link advise on the issues with multiple credit cards and how to resolve that by paying off the multiple debts with one loan.

Budgeting will always be your best friend when controlling your money. By working out what you’re spending, where and when, you can control the cash flow in your bank. The skilled budgeter has their own methods of working out money with graphs and tables, but for a beginner, there are plenty of online services that can get you started for free, like at http://www.epi.org/resources/budget/.

This process helps you to see where you can make cuts. Sometimes you don’t realize how much money you spend on food, or trips to a coffee store. In a way, being able to see your income being dissected in front of your eyes helps to drive the point home.

Having multiple accounts and saving accounts may seem to make things more complicated, but think of it as a virtual binder. Have an account just for your bills and move the money you need to that account on pay-day, have a savings account or two for emergency and holiday (or whatever you’re saving for), maybe have a debt account too. Then what you have left in your first account is yours to spend on whatever you wish!

Just because you’re saving, or getting out of debt, doesn’t mean that you can’t enjoy things like a day trip or coffee on the go, you just have to be smarter about it. Get coupon-savvy – Coupons aren’t just for groceries, you can find them for hair cuts, car services, and events.

The avid couponer has stacks, or a neatly organized folder to put all their coupons in, but you can just start with adding a couple to your wallet before you do the grocery shop or looking for days out over the school break. Either way, make sure you know how to use your coupons properly, you can get my advice on how best to use your coupons here – http://coriscouponcorner.com/2013/11/ad-saving-money-with-coupons/.

Money doesn’t have to be your enemy, with practice and control you can make it work for you, leaving you time to concentrate on the important things.

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Things to Consider Before Filling Out a Reverse Mortgage Application

August 20, 2017 By
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These days, there are a lot of advertisements claiming that reverse mortgages are perfect for seniors on tight budgets who want to access their home’s equity with low risks. But exactly how much can a reverse mortgage benefit you? Here are some things to consider before you apply for one.

You Must Meet Eligibility Requirements for This Type of Home Loan

The first consideration is that not everyone qualifies for the type of home loan known as a reverse mortgage. It is meant only for senior citizens who are at least 62. Also, if you plan to apply with your spouse, they must meet the same age requirement.

Another requirement is that any liens or mortgages that already exist on your home have to be paid off before you apply. Alternatively, you can use part of the money you receive from the reverse mortgage to pay them, but it must be done right when you agree to the loan terms. Money left over can be used for anything you want.

A third requirement is that you must pass a credit check. The reason for that is that you will still own your home. That makes you responsible for monthly bill payments and insurance payments, rather than the lender taking responsibility for those payments. Lenders will consider you a poor risk if you have bad credit or no proof that you can afford those monthly costs.

You Can Request Your Reverse Home Loan Payments a Number of Ways

The next thing to know about these unique home loans is that you can choose how you get paid. You can take out a home equity line of credit and borrow against it when you need to. You can also choose to get one single large payment to cover things like medical bills. Many seniors choose a third option, which is monthly installments that can help with recurring bill payments like electricity and gas bills.

Reverse Mortgages Can Disqualify You from Some Assistance Programs

If you are receiving income from certain government assistance programs, how does a reverse loan work you? Well, before you sign the loan agreement, you should know that it could disqualify you from collecting SSI benefits, Medicaid, or certain other forms of assistance from the government. Although, it won’t impact your pension or Medicare benefits. Be sure to discuss possible reductions in benefits with an expert before you finalize any loan agreements.

Reverse Mortgage Terms Require You to Stay in Your Home

The way that reverse mortgages work is that you, the borrower, will receive part of your home’s equity in cash. You can repay that money at your own pace, but the longer you take the more interest you will accrue. Also, the loan will come due as soon as you die or move out of your house. Therefore, you shouldn’t apply for this sort of mortgage unless you plan to stay in your home for several years. It won’t be beneficial to you if you move out too soon.

Your Heirs May Inherit Less if You Don’t Pay Off the Home Mortgage

When considering applying for a mortgage that works this way, you also have to think about your heirs and what you want to leave for them. Remember that the lender might sell your home when you pass away, unless you pay the loan off before you die or your heirs pay it upon your death. So, if you own a home that you want to pass on to your children or grandchildren, reverse mortgages may not work out for you.

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