#that rent would cover half of utilities + half of property tax + half of insurance + maintenance and random stuff

[everydayesterday]

I need a roommate. who wants to move to nashville? how about $800/mo.? any takers? you'd get the guest room, which is pretty nice, and has its own ensuite shower with laundry, as well as its own exterior door. also, you'd basically get the front living room, and there's a backyard — you could have your own garden space. there are great restaurants and parks nearby. 10 minutes from downtown (on a good day).

[bilyonaryomindset]

Here are the top money-related reasons to consider purchasing a smaller home.

1. Smaller Homes Have Lower Sales Prices

Looking for homes with a smaller square footage can have a big impact on your homebuying costs. The 2020 median home listing price per square foot is $153, according to Zillow.

A home’s square footage doesn’t directly translate to lower costs — it’s not like shaving off 10 square feet will save you $1,500. But if you look for smaller homes with fewer bedrooms, you can likely set your homebuying budget lower than if you seek out bigger homes. With lower home prices and a smaller budget, this can bring your dream of homeownership within reach sooner.

That was a big reason that Emily Guy Birken, a finance writer and author, opted for a 1,800-square-foot cottage for her four-person household (plus a cat and an 80-pound greyhound).

“If we had been set on a 3,000-square-foot home in the same area, we would have had to rent for several years while saving up the down payment,” Guy Birken says. “Because we chose a smaller home, we were able to buy when we moved to Milwaukee, rather than waiting.”

A lower home price can also bring down other expenses, such as your closing costs, the size of your mortgage, and even your mortgage rate.

Don’t Miss: First-Time Homebuyer Guide

2. Lower Mortgage Payments and Better Cash Flow

“I chose a smaller home because I … never, ever wanted to be house poor,” says Britt Bruce, founder of Tiny Ambitions, a blog and podcast about simple living. Being “house poor” means that housing costs eat up too much of your budget, leaving you struggling financially.

The U.S. Census Bureau considers housing costs to be affordable when they account for 30% or less of household income, for example. If buying a bigger home means paying more than that for a mortgage, utilities, and other housing costs, it could make you house poor.

Buying a smaller and more affordable home with lower mortgage payments, on the other hand, can leave you more room in your budget.

Bruce could have bought a bigger and pricier home than she did. The price of her 750-square-foot bungalow was half the amount of the maximum home loan she was approved for. But when she compared mortgage payments on the small home she chose with what she would’ve paid if she had borrowed the max amount, Bruce found it was a difference of $20,000 a year.

“The biggest financial benefits of a smaller home is the flexibility you get when not all of your monthly income is already spoken for by your mortgage,” she says. With the extra money she has saved, Bruce has made big progress toward other financial goals, like saving and investing more.

3. Other Escrow Costs Are Cheaper

A downsized home can cut more than just the cost of your home loan. Your mortgage payment covers repaying this loan, but it also includes your costs for homeowners insurance and property taxes.

Your mortgage payments are held in an escrow account, which your mortgage servicer uses to ensure these important expenses always get paid. And these expenses are typically lower for a small home versus a comparable, larger house.

A standard homeowners insurance policy, for example, provides coverage up to the cost of rebuilding the home. But the higher that estimated cost, the more you’ll pay in home insurance premiums.

Rebuilding costs are estimated by multiplying average local building costs by the total square footage of your home. Thus, a smaller home requires less coverage and allows you to buy a cheaper homeowners insurance policy.

Property tax is calculated on your home’s value. But the method your local government uses to assess the home’s value (and tax you on it) typically takes the home’s square footage into consideration. Check your state and local property tax codes to see how a home’s size can affect property taxes.

RELATED: The First-Time Homebuyer’s Guide to Homeowners Insurance

4. Smaller Homes Are More Energy-Efficient

Another cost that’s lower for smaller homes? Energy bills.

A small home is more efficient than larger homes, as it requires less energy to keep a smaller space temperature-controlled and comfortable. Smaller homes also have fewer lights and other appliances. Some energy-efficiency upgrades will also be cheaper on a smaller home, such as replacing insulation or upgrading to more efficient windows.

A smaller home under 1,500 square feet saves $290 to $730 per year compared to the average home’s energy costs, according to 2018 data from the U.S. Energy Information Administration.

Here are the average annual energy expenses by square feet:

Average of all homes: $1,856

Less than 1,000 square feet: $1,126

1,000 to 1,499 square feet: $1,569

1,500 to 1,999 square feet: $1,919

2,000 to 2,499 square feet: $2,088

2,500 to 2,999 square feet: $2,282

3,000 square feet or greater: $ 2,631

5. Lower Maintenance, Improvement, and Upkeep Costs

Having less space to clean can make regular upkeep easier and less time-consuming. “The biggest pro is probably that it takes me less than 20 minutes to vacuum the entire house,” Bruce says.

For me, I’ve definitely struggled to find a chore routine that keeps my 1,800-square-foot house neat and tidy. I even tried hiring a cleaning service that cost $120 per week to try to keep up.

There’s also the cost of my time on upkeep. Since I’m a freelancer, time spent on chores like cleaning an extra room takes away from time that could be spent earning more.

Many maintenance, repair, or improvement jobs add costs in materials and labor, which can be a lot cheaper for smaller homes. A common budgeting guideline for home repairs suggests setting aside $1 per square foot, per year, according to Liberty Mutual Insurance. Roof repairs or replacements are among the most expensive home repairs, for example, and the cost of these is based on the square footage of your roof.

6. Cheaper To Furnish

With no space to put a second or even third TV and no spare room to house a guest bed, you can skip those expenses altogether — and save hundreds of dollars in the process.

Smaller spaces will also curb the temptation to keep buying stuff. “A major upside of a smaller home is that it doesn’t really allow you to fill it up with stuff,” Bruce says.

This check on spending can help small homeowners make more mindful and intentional choices about what they want to bring into their home. And that means less money wasted on stuff you don’t really want or need.

ctto: walletjoy.com

[easyshed123]

https://easyshed.com.au/blogs/resources/buying-a-shed-at-tax-time

[empoweredfinances]

Who Can File Taxes as Head of Household (HOH)?

What Is Head of Household (HOH)?

Taxpayers may file tax returns as head of household (HOH) if they are unmarried and pay more than half the cost of supporting and housing a qualifying person. Taxpayers eligible to classify themselves as an HOH get higher standard deductions and lower tax rates than taxpayers who file as single or married filing separately.  Key Takeaways - To qualify for head of household (HOH) tax filing status, you must file a separate individual tax return, be considered unmarried, and have a qualifying child or dependent. - The qualifying person must generally be either a child or parent of the HOH. - The HOH must pay for more than one-half of the qualifying person’s support and housing costs.

Understanding Head of Household (HOH)

Head of household is a filing status available to taxpayers who meet certain qualifying thresholds. They must file separate individual tax returns, be considered unmarried, and have a qualifying dependent, such as a child or parent. Further, the HOH must pay more than one-half the cost of supporting the qualifying person and more than one-half the cost of maintaining that qualifying person’s primary home. The IRS provides a breakdown of what constitutes a qualified person in Table 4 of Publication 501. Unmarried To be considered unmarried, the HOH must be single, divorced, or regarded as unmarried. For example, married taxpayers would be regarded as unmarried if they did not live with their spouse during the last six months of the tax year. The status further requires that the HOH meet either of these two requirements: - The HOH is married to a nonresident alien whom they elect not to treat as a resident alien. - The HOH is legally separated under a divorce or separate maintenance decree by the last day of the tax year. Married taxpayers are considered unmarried if they have not lived with their spouse for the last six months of the tax year. Financially support a qualifying person An HOH must pay for more than one-half of the cost of a qualifying person’s support and housing costs. The HOH must also pay more than one-half of the rent or mortgage, utilities, repairs, insurance, taxes, and other costs of maintaining the home where the qualifying person lives for more than half of the year. The home must be the taxpayer’s own home, unless the qualifying person is the taxpayer’s parent and the home is the property of that parent.  If the qualifying person is a parent who lives at another address, it's still possible to file as head of household—provided they are dependent on you and you cover more than half the cost of keeping up their home. Personal exemption suspended The enactment of the Tax Cuts and Jobs Act of 2017 (TCJA) led the personal exemption to be suspended through 2025. Back when there was one, HOH filers had to be able to claim an exemption for their qualifying person. Taxpayers could release their exemption to a noncustodial parent in a divorce proceeding or a legal separation agreement and remain eligible to file as an HOH.

Examples of Filing as Head of Household (HOH)

Filing as an HOH can provide significant savings for taxpayers. Below we compare the tax burden for an individual earning $70,000 using the different filing statuses. HOH vs. single or married filing separately For 2021 tax returns, which are due April 2022, the HOH has a standard deduction of $18,800, reducing their $70,000 taxable income to $51,200. From that amount, $14,200 will be taxed at 10%, and $37,000 at 12%, bringing the total tax bill to $1,420 + $4,440 = $5,860. In comparison, a taxpayer filing as single or married filing separately qualifies for a standard deduction of $12,550, reducing their taxable income from $70,000 to $57,450. Of that $57,450, $9,950 will be taxed at 10%, $30,574 at 12%, and the remaining $16,926 at 22%, resulting in a total tax bill of $995 + $3,668.88 + $3,723.72 = $8,387.60. Thus, filing as an HOH saved this hypothetical taxpayer $2,527.60. For the 2022 tax year, these savings will increase even more as income limits are adjusted for inflation, and the standard deduction rises $600 for HOH to $19,400, versus $400 to $12,950 for single filers. 2022 Tax Brackets for Single Filers, Married Couples Filing Jointly, and Heads of Households 2022 Tax Rate For Single Filers For Married Individuals Filing Joint Returns For Heads of Households  10% $0 to $10,275 $0 to $20,550 $0 to $14,650  12% $10,276 to $41,775 $20,551 to $83,550 $14,651 to $55,900  22% $41,776 to $89,075 $83,551 to $178,150 $55,901 to $89,050  24% $89,076 to $170,050 $178,151 to $340,100 $89,051 to $170,050  32% $170,051 to $215,950 $340,101 to $431,900 $170,051 to $215,950  35% $215,951 to $539,900 $431,901 to $647,850 $215,951 to $539,900  37% $539,901 or more $647,851 or more $539,901 or more Source: Internal Revenue Service

Who Qualifies as Head of Household?

To file taxes as head of household, you must be considered unmarried, pay at least half of the household expenses, and have either a qualified dependent living with you more than half the year or a parent whose housing costs you cover at least half of.

Is It Better to File as Single or Head of Household?

For tax purposes, it is better to be head of household. Head of household filers have a lower tax rate and higher standard deductions than single filers.

What Is the Standard Deduction for Head of Household?

In the 2021 tax year, the portion of income not subject to tax for heads of households is $18,800. In the 2022 tax year, that threshold increases to $19,400. Read the full article

[bidsfor]

via Real Estate

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“I can’t make the numbers work!”

“My housing market is too expensive!”

If you ever find yourself saying any of these statements to yourself – or to your significant other who has told you to “put your money where your mouth is”, or “stop talking about it and just do it” – get in touch on with a look at some of the high-level strategies I use to solve this common problem for many new investors.

I live in California where there is a housing shortage, and single family homes go for $500,000+. Many properties in the San Francisco Bay Area are over $1 million! But there is a model you can use that will give you high cash flows even in an expensive market if you do it right.

I’m talking about the student housing rental market. By investing in local college towns, you can (in most cases) double the usual rental income on a property. For example, one of my properties earns $3,110 per month in rental income, but according to Rentometer, the house should only be allowed to rent for an average of $1,530 per month.

Before you get started, there are a few key points to focus on to create your own student housing system.

Buying the right home in the right location

Finding high-quality tenants

Have a system for managing the house and its tenants.

I already covered finding the right home and location in my previous article. Read on for the other two keys!

More about student housing from Bids For

Finding quality tenants

Find out where your target tenant hangs out. For college students, you can use campus bulletin boards, Craigslist, or Facebook groups.

You want to create an ad highlighting the benefits of staying in one of your bedrooms, from a student’s perspective. The proximity to the campus, fully furnished rooms, a safe neighborhood and ample parking are things that students consider highly. So I try to offer all these benefits in my rental.

Something as simple as installing a garage spot or camera, for example, gives students and their parents peace of mind when they decide to stay at your home.

As for viewing the house, you can let your previous year’s tenants do the screenings for the new incoming tenants. Sometimes students are fine with just getting a video walkthrough or photos of the house before signing a lease. About half of the students who sign a lease with me don’t need a personal tour once I explain that tours are limited, but we have plenty of photos and video walkthroughs.

Leasing for individual tenants

I make an individual lease for each tenant. However, I recommend that you check with your city planning department first to see if room rentals are legal in your city. In my city, room rental is allowed as long as you register a business license with the city and pay the city tax on that license.

In general, the lease will be very similar to a whole-home lease, except you’ll only be charging for a bedroom and utility bills will be shared equally among all tenants. If a tenant leaves a little earlier, the landlord may have to cover the portion of that tenant’s utility bill for that month. Fortunately, this can be deducted from your taxes, as it would be considered a business expense.

I structure all my leases as one-year leases, starting in mid-August of the current year (when school starts) to mid-August of the following year. Students may sublet during the summer months and when they do not live there. Before subletting, the other tenants must agree to the chosen sublet.

There are a few key differences between a normal lease and a rent per room that I’m talking about in advance.

If damage to home or furniture occurs in a common area, I make it clear that I will deduct the repair costs equally from all tenants’ security deposits, unless everyone agrees that only one tenant has defaulted.

No house parties are allowed. Each tenant is entitled to “a quiet enjoyment of the property”. It is up to tenants to resolve problems and conflicts through open discussion.

I do not allow pets. Pets unfortunately pose an allergy risk to the other tenants of the property – current and future. If a tenant insists on having a pet, they must get a signed written agreement from every other tenant stating that they know there will be a pet in the house and that they are okay with it and that they will not be liable to the landlord if an allergic reaction should occur. happen to them or one of their guests.

Where possible, I try to get a parent to co-sign the lease. The only time I don’t need a co-signer is when the student has significant financial aid or loans to cover both tuition and housing.

Ready to build your investment empire?

Are you unsure about the first (or next) step? See us as your personal trainer. From detailed breakdowns of real-world deals to in-person coaching sessions and a warm, welcoming community, hosts Ashley Kehr and Tony J Robinson tackle the “beginner” questions you’ve been wondering…but might not dare to ask.

Dealing with tenant conflicts

Two words: tenant empowerment!

When there is a dispute between two tenants, I tell the complaining tenant that they should first talk to the other party personally and develop a workable plan. Then implement that action plan.

If there is still a conflict after that, they can come back to me. But nine times out of ten I hear nothing from the complainant. Either the problem is solved, or they have learned to coexist despite the problem.

If the face-to-face conversation and action plan doesn’t work, I quickly call one of the parents who signed the lease, discuss the complaint and ask them to help us correct it. After that I never had any more problems. Although they are a last resort, the parent is usually an authority figure who can resolve the situation.

Rental to couples

I like to rent to couples because I can generally charge higher rent for the shared bedroom. My rule of thumb is to increase the rent for the bedroom by 30% and then divide by two to get the rent per tenant.

For example, if I normally charged $670 for the bedroom, I would charge about $870 ($670 x 1.3) instead. So each person would pay $435 per month ($870/2). I then receive $200 more rent per month, which is $2,400 per year, enough to replace a broken water heater or cover an unexpected repair.

Whatever you do, you should maintain a 3:1 person to bathroom ratio. The maximum number of people you want to share a bathroom is three. After that it gets a bit crowded.

Keep in mind that bringing in a couple puts you at risk of them breaking up. In that case, the lease may have to be renegotiated or one of the partners may have to move. But in general, you shouldn’t have a problem with rent payments as most students still stick to their agreements regardless of relationship status. But if necessary, the option of subletting can also come in handy.

How much can you earn with student housing?

This is the real reason why I invest in student housing: it is a win-win situation for everyone. First, students get much cheaper housing than on-campus housing — about half the price. And as a landlord, you can double the total rental income on the property. In fact, everyone has a lease for at least one year, so you don’t have to worry about turnover and cleaning up every few days like with short-term rental properties.

Here’s the brutal, no BS breakdown of my cash flow on a few properties.

Fulton Street house

This was the very first house I bought. I added a fourth bedroom and reinvested the cash flow and some W2 earnings to pay it off in full in a few years.

I bought it in 2016 for $262,000. During that time, my investment property interest rate was 3.625% with an origination fee of $1,125. I chose to pay it off early to increase my cash flow on the property and didn’t overuse myself.

In general, I would recommend using your money as much as possible if you are just starting out. After you have a few rental properties in your name, start paying off some of them so that you are in a stronger position if a housing accident were to occur.

taxes Insurance Rental income cost Cash flow $284.64 $47.83 $2,420 $307 $1,780

Estimated Rental Income per Rentometer: $1,555 per month

Actual rental income: $24.20 total

Bedroom rent: $490, $610, $650, $670

Current cash flow: $1,780 per month

Cash flow if made, only estimated Rentometer rent: $1,555 – $284.64 – $47.83 – $307 = $915.53 per month

Difference between estimated rent (as a whole home) and actual rental income (per bedroom system) = $1,780 – $915.53 = $864.47 per month

Living in California has also given me quite a bit of appreciation for this first property.

Valuation since purchase = $130,000 over 5 years = $26,000 per year = $2,166.67 per month

West Churchill house

Here’s the most recent rental I’ve bought – my fifth rental. I closed it on May 28, 2021. And by the time I closed it, I had already signed leases for all five bedrooms from August 2021 to August 2022. Total rent: $3,440 for this one rental.

Monthly Mortgage (Principle + Interest) taxes Insurance Loan term (years) interest Rental income Estimated cost Total PITIA Cash flow Cash flow when paid $1,202.33 $355.53 $38.50 30 3.375% $3,440 $833 $1,596 $1,010 $2,213

Estimated Rental Income per Rentometer: $1,537

Actual Rental Income: $3,440 total

Rent Bedrooms: $620, $630, $650, $660, $880 (pair paying $440 each)

Estimated cost after the first year: $400 per month (~$4,800 per year)

Cash flow after first year: $3,440 – $1,596 – $400 = $1,444 per month

Cash flow if made, only estimated Rentometer rent after first year: $1,537 – $1,596 – $400 = –$459 per month (Yes, that would mean negative cash flow!)

Difference between estimated rent (if the whole house) and actual rental income (per bedroom system): $1,903 per month

Using the per-bedroom system, I was able to turn what would have been a negative cash flow holding into a very positive cash flow holding.

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[letsimportanttreecollection-blog]

car insurance quotes nashville tn

"car insurance quotes nashville tn

car insurance quotes nashville tn

BEST ANSWER:  Try this site where you can compare quotes: : http://salecarinsurance.xyz/index.html?src=tumblr 

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car insurance quotes nashville tn

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someone hit my car and I received a payment from their insurance. Do I have to get my car fixed or not. It's not major damage it's just a broken light and some scratches and they wanted to charge me like a thousand.

When will I be fined if I don't get health insurance (Obamacare)?

Hello, Not that I'm planning on not getting health insurance but I was just wondering--- Enrollment begins Tuesday (at least here in California). I know that there is a fine for not signing up ($95 or 1% of income, whichever is higher from what I have read) However..I cannot find one answer on WHEN you will be fined if you don't sign up. Will it be during this upcoming tax season? Or next year for 2014 taxes? I'm just wondering because I start full time school and will be cutting to about 20 hours a week at my job (as opposed to full-time status that I work now) I do not currently have insurance because my job does not offer it and I do not qualify for Medicaid (because somehow I make too much money even though I can barely afford to pay my bills...) So I plan on signing up for Blue Shield or something of that nature once I cut my hours because it will be much cheaper than if I sign up now. Thanks! Any feedback regarding this would be great but my main concern is being fined. Please let me know when that fine will come into play.""

Going on my grandmothers car mobility insurance?

Hello, I'm 17 soon, male and living in the United Kingdom. If I was to buy a car and take out insurance, the prices would go through the roof and we don't have that much of a budget to spend. However, my grandmother is disabled and her husband drives a car. So, we concluded that it would be best for me to go on my grandfathers insurance to keep the insurance bill down? Is this a good idea? What are the downsides of this? However, my mother was talking to her friends in work and they said if my grandmothers cars is a Mobility Car I can go on their insurance for free? Is this correct? What is my best option here? My mother nor my father drive and the only person in my family can drive is my grandfather and he hasn't claimed on his insurance for over 20 years. How much would it cost me if I was to go on my grandfathers insurance (Say if he never had a mobility car) and would it be free if he did? Thanks in advance.""

Will my insurance increase of I get a body kit.? ?

Im planning on getting a 1.4 pug 106 and I was going to get a DIMMA kit for it and 205 gti alloys. Will my insurance go up..?

Most Reliable and Affordable Car Built Between 1995-2001 ?

Mercedes c-class ?

Children's health insurance?

Just had custody of 15 and 18 year old changed from me to their Dad . All their lives I've been responsible for their insurance . As far as CHIPS goes in Texas . Since kiddos now live with their Dad . I can no longer get them enrolled . And our custody papers say I am to keep insurance on them till they are no longer eligible . Well , they are no longer eligible . Through the guide lines of CHIPS here in Texas . I even have the paper they sent to me . I can't get insurance on them . What am I to do now . Or is it up to my ex to go and enroll them ? I am a stay at home Mom who babysits . So I do not have access to private insurance .""

Can i sue an at fault driver even if i dont have car insurance?

I was in an accident today and my car was totalled. I was not at fault in any way, however since Michigan is no fault state the at fault driver does not have to pay for my damages. I do not have insurance but I would like to sue her for minor injurion and damages to my vehicle since now i have no way to and from school or work. Can I sue her even though I dont have car insurance? 4 minutes ago - 4 days left to answer.""

Does anyone know where 2 get cheap car insurance for high perforfomance cars .....n.ireland?

Does anyone know where 2 get cheap car insurance for high perforfomance cars .....n.ireland?

Why do hundreds of thousands die every year WITH health insurance?

Should we ban it? Isn't this the same argument as Dems use when they say 45,000 die with no health insurance? It's not because. In fact, there was a study done. Here are the results: The possibility that no one risks death by going without health insurance may be startling, but some research supports it. Richard Kronick of the University of California at San Diegos Department of Family and Preventive Medicine, an adviser to the Clinton administration, recently published the results of what may be the largest and most comprehensive analysis yet done of the effect of insurance on mortality. He used a sample of more than 600,000, and controlled not only for the standard factors, but for how long the subjects went without insurance, whether their disease was particularly amenable to early intervention, and even whether they lived in a mobile home. In test after test, he found no significantly elevated risk of death among the uninsured. See that? No elevated risk of death among the uninsured? Do some of you get that you're being played yet? I'd love to see reform, but should we concentrate on the common sense Republican solutions to bring down costs?""

I trying to find a cheap car insurance for teenagers?

she already have tickets in her name . i trying to find someone who can make a deal with us.

About how much would it be for car insurance for a 18 year old girl?

female no accidents new driver in school working

Insurance on a ford flex?

I am 16 years old..and I am looking into getting a 2014 ford flex! How much would the insurance be?!

Car insurance in America for non citizens on holiday?

I have a few questions about car insurance in America for non citizens. I am going to the USA this summer and will be driving alot.I have car insurance on my own car and have a full license and an international driving permit.Do i have to get insurance on the car in america or will my own insurance in ireland cover it or will i have to start another policy with an american company?Will this cost alot?My insurance here is not expensive and ive never been in an accident or made any claims.Is it possible to be put on my friends insurance as a driver and if so how much would this be cheaper then buying my own insurance?Any information would be great, i am very confused on the matter.""

Car insurance help please ?

Basically i have bought a car and i need to insure it as my dad as the main driver as he has 20+ years of no claim bonuses and it bring the insurance price down to a manageable payment for me.the problem is that its not with the same company that my dad is currently with and he doesn't have any recent renewal quotes so i don't have proof of his no claims bonus.how can i get proof and will i need the proof before i try to get the insurance ? im 18 and a first driver so i really need my dads ncb to be able to afford insurance

Car trade in value change after accident?

Can somebody generally tell me that how much car trade in value decreased after a accident (2003 Jeep Liberty Limited, good mileages, the car is repairable)? and how to negotiate with Insurance on this?""

Which auto cost more for auto insurance sienna or rava 4?

Which auto cost more for auto insurance sienna or rava 4?

""Hit a mailbox, will cost $2,500 to fix, how much will my insurance go up?""

The other night i crashed into a mailbox. It was completely my fault and it will cost $2,500 to fix it. I was wondering how much my insurance premium will go up per year about? I am 20 years old and have gotten 1 ticket before.""

""10 points! I'm 17, moved out, car insurance?""

Ok, so in 7 months i am moving out of my moms house and in with my boyfriends family for a year or two. ( My mom is aware of all of this btw) Anyways, allstate is throwing me off my moms car insurance due to the fact she will live in a seperate state and away from me. The time i move and the time i turn 18 is a two month difference. I move in june my bday is in august. It's nearly impossible for me to find insurance qoutes because im not 18! I do't want to get emancipated it seems like a waste for 2 months difference, but if i do can i get insurance on my own? i will be sharing this car with another driver older the age of 18 but still cosidered a young driver. What are my options? I have to drive to get to work!""

""As a 16 year old male, how much will I pay for auto insurance?""

I am a 16 year old male (and I already know what statistics show, unfortunately), soon to be 17 years old in October. I will be paying auto insurance pretty soon and I am trying to get an estimate of how much I will be paying monthly/yearly. I obtain a 3.5 GPA and reside in Dayton, Ohio. My mother will be adding me to her insurance plan and I drive a 1999 Chevy Camaro (this is the car that will be insured, and thankfully it does not have a Z28 engine). I'm not sure whether or not the insurance agency will consider this a sports car either, so I'm pretty nervous! Please help me! Thank you!""

Will medical insurance l be Mandatory in usa?

will medical insurance l be Mandatory in usa ?

Why is the US government forcing health insurance on me?

My hate for the US government is growing by the day.

How much would the nissan altima coupe's insurance cost per year?

Prescott Valley, AZ""

Is it true you get a car insurance break when you turn 25 years old?

I haven't seen anything official, and I suppose I can ask my agent. But I was curious if anybody else has received any sort of rate change when they turned 25. Does it depend on the insurance company?""

""How could i get affordable car insurance with in10, 8 points, 3 Children :'(?""

So i passed at 17, Iam 21 now, at the age of 19 i got my licence taken off me for driving without insurance (my fault thought i was insured third party on my dads car with his permission) With 8 points and a fine included. Since 19 ive been taking buses and sick of it missing lessons etc because i commute to Uni. 2 years later ive had enough and passed my test. How on earth do i get insured at 21 with 8 points in Bradford? Surely someone must be in the same boat and have some advice ? I have a car and 3 children and they are nearly all starting school i really need to be driving them there. I want to do the right thing and be fully insured its bin 3 years since i had the in10 cant they not be so harsh as its been so long now. Ive matured and am the calmest driver ive ever been. Thankyou to anyone who helps !""

car insurance quotes nashville tn

car insurance quotes nashville tn

Short term or long term disability insurance?

Which company offers the best short term or long term disability insurance? (price and coverage) I recently found out that I might get blind in future and need to have some income to support my family when I loose the job. I am having trouble understanding the system but would be great if anyone could help me out. I don't even know if these insurance thing can pay me with being blind. Thanks.

How old do you have to be to start driving lessons?

How old do you have to be to start driving lessons?

How much should I expect to pay per month for auto insurance?

21 year old male with a new 2012 Jeep Grand Cherokee. I have been involved in one minor accident (my fault) and have one traffic ticket.

Do trucks have high insurance?

As a ''rule'' are trucks high or lower side of insurance? BTW, I am looking at older trucks, 1994-1999 4x4's Thanks everyone. Please now Yes sort of maybe. Just a simple straight forward answer with facts to back up up! :)""

What insurance companies are reliable for expats?

I am looking for some more information on insurance companies that provide services for expats? I am a Dutch national, without a fixed 'home' address, and therefore not entitled to the health and liability insurance that is offered by companies in my home country. As I do like to play it by the rules, I was wondering if anyone knows or has experience with reliable and affordable international insurance firms that provide services such as travel-, health- and liability insurance for expats. Thanx for your suggestions!""

How much do you pay for your car insurance?

Just wondering - how much do you pay for car insurance, how old are you, and what year/model of car do you have?""

What the hell is wrong with my insurance quote?? Help please?

Hi, I've just been to confused.com and obtained a quote for the car I want - FORD MONDEO VERONA 16V 1997-2000 1796cc 5 DOOR HATCHBACK Manual Petrol - this 2nd hand car has done around 12,0000 mileage My cheapest premium was 4329?? Why on earth is it so expensive?? Is it the fact that I'm a 20 year old male? Or that I've just had my licence for a month? Or I've only lived in the UK for 3 years? Engine size?? State of car??? Please let me know than you""

Tips for cheap car insurance?

Well, I just got my MOT back and it is alot of money, I was MOt'ing to sell because i couldnt afford the insurance. The MOT is going to cost me Half of what tjhe car is worth. So I am going to keep the car MOT it and use it. SAo is there any good tips to get cheaper insurance. I'm male 17 and recently passed (considering pass plus).""

Can I insure my car in California if it is registered in Oklahoma?

I currently have insurance in Oklahoma. My permanent address is in Oklahoma but I am stationed in California and California doesn't require military personnel to register their vehicles there.

Which car = Cheap insurance for young female driver?

I'm female, 20 and live in England. I've been on moneysupermarket, comparethemarket and confused.com but all I seem to get is quotes over 4,000 on car insurance for a KA 1.2!! I haven't bought the car yet, as I think it's wise to check out insurance quotes. I'm not really bothered about the car, aslong as it runs fine.. So which car is best to get insured when your a 20 year old female, newly qualified driver?? thanks p.s. other notes if you need them: I will be driving roughly 5,000 - 6,000 miles a year. The car will be parked on a public road or public car park. I don't really want to spend more than 1,000 on my first car. Only using for social/pleasure""

How much is insurance for starting a cleaning service in California?

How much is insurance for starting a cleaning service in California?

Can I buy medical insurance online or something right before I go to the hospital ?

Am allowed to do that or is there some kind of waiting period you have do ? also if you don't have to wait and can go immediately are there any really good low cost medical insurance plans for Northern California.

Is minimum coverage car insurance the same as an SR22?

In Tennessee, is minimum coverage car insurance the same as an SR22? I already have minimum coverage but am now required to get an SR22. Is this something that needs to be added on or will minimum coverage suffice? Thanks.""

Pre-Existing Conditions health insurance...?

I've had epilepsy since I was 5 years old, I'm now 24. I came across a comment on a website a few minutes ago about there being some kind of federal law where it's ILLEGAL to deny someone coverage because they may be in poor health, overweight, etc... aka having a pre-existing condition . If this is true about there being a law AGAINST it, why are SO MANY health insurance companies allowed to deny people w/ pre-existing conditions right off the bat? There are THOUSAND upon thousands, if not MILLIONS, of people in the U.S that have some kind of pre-existing condition, whether minor or major. So wouldn't that mean that there are THOUSANDS of insurance companies that are running their business illegally & breaking the law? I mean, breaking a state law is one thing, but a FEDERAL law is a pretty big deal!! Washington makes such a big deal about how so many people in our country don't have health insurance & they say it's because people can't afford it . But I think the REAL reason is that because MOST of those people have a pre-existing condition & they're getting thrown to the curb because of it... Comments on this???""

Insurance companies messed up!?!?

Over three years ago, a pick-up truck crushed the entire back-side of my van. Of course, it wasn't my fault and I took care of the situation by calling the truck driver's insurance company. However, when I was going through my auto insurance profile, I saw something weird, a driving history stating that I was at-fault for that accident three years ago. It's very weird because I claimed an accident not on my insurance company, but the truck driver's. What can I do to fix this? Was I paying more premium because of this mistake? Thank you""

Can you exchange a motorcyle if the insurance ends up being higher than what was quoted at the dealer?

i called progressive, geico, esurance, and allstate and they all gave me a quote of over 2400.00 but the dealer quoted me 900.00.""

How do I get health insurance?

I am a heart transplant patient without health insurance and am on disability for 8 months. I am not able to recieve coverage from anyone and have large medical and prescription costs.

Should i get insurance for my first car? Where can i get CHEAP car insurance? I live in Aus.?

Should i get insurance for my first car? Where can i get CHEAP car insurance? I live in Aus. I am looking at buying a s13 non turbo at 11k. when i looked for a quote the minimum was like 5k which i do not have the money seeing as i am going to have to get a loan for my car.

Help! which is cheaper of 2 cars on insurance?

which has cheaper insurance? 1. Mazda 3 touring hatchback 2009 (median level trim and automatic) 2. Volvo C30 T5 hatchback (base trim and automatic) ??? which one??? cuz my dad is worrying about the insurance for me. im 19 and going be 20 soon!

What's an affordable car insurance for new teen driver?

I'm 16, i live in the bay area and today i just got my drivers license. So with that being said i need to figure out what kind of car insurance i can get that is affordable because i know all insurance for young new drivers is very expensive, So can you give me any names that i can look up please? Also i've been driving my families 2004 Chevy Cavalier Ls to get me started but it's kind of small for me and can anyone give me any good brand names for cars that have great safety to it? I love the toyota camry's and solalra's are those good cars to get? Thank you if you can help me :) ~Robert""

""If i have full coverage for car insurance that covers theft, how much should i get?""

esurance if it helps, do i get what i paid for the car when it was new or the bluebook value""

Pregnant and no health insurance - Maine?

I am canadian who just got a visa to move to maine to live with my US husband - I still work in Canada and cross daily. 3 nights ago I found out I was pregnant. I called my blue cross to see what it covered in the USA and when I told them I moved from NB they promptly cancelled my insurance. My husband doenst have insurance and because of my salary in Canada we dont quality for medicaid or mainecare. so no insurance, no mainecare and no money...... I also cannot have the baby in Canada now as they cancelled my medicare when I moved...... so this is worst situation I have ever been in...... I have wanted to be a mother for years but I cannot afford 15000 to have a baby ...... I am honestly contemplating an abortion.....""

Any estimations on how much my car insurance will be? Uk.?

Im 17 in november, in gonna start to drive but i was wondering if anyone iceby ideas on how much my car insurance would be based on what i tell you. I live in the uk. I cant go on my parents insurance because they dont drive. In gonna get a 1.4 or 1.6 engine car. An thats all i can tell you, can anyone please have a rough estimation on prices?""

Can you place insurance on a car that is not in your nam?

I drive a car that is in my aunt's name. She told me that I need to get my own insurance on the car, so that she can take it off of her policy. However I am not sure if I can place insurance on a car if my name is not on the title.""

Health ins. companies can't deny people for pre-existing conditions. Should the same be true of car insurance?

I ask because my car has some pre-existing problems: 1. The brake pedal only works about 1/3 of the time 2. The engine is currently on fire How can these greedy car insurance companies declare that my car is unsafe to drive?

car insurance quotes nashville tn

car insurance quotes nashville tn

""I knocked over a stop sign with someone else's car, whose insurance company do I use?""

Nothing happened to the car, I just need to pay for the stop sign. (I still don't understand why they can't just stick the sign back in. Nothing happened to it.) Anyway, I'm wondering if I should call my insurance company, or the person's insurance company. The police took the insurance # of the car's owner, but to file a report, do I call my company or his? (We both have the same company, USAA, but I don't know what policy # to use.)""

Where is the best place for cheap car insurance for my 17 year old son?

Help!! My son has passed his driving test aged 17 but the insurance we've been looking at astronomical!! Can anyone advise me on any good deals :)

Anyone have an idea about Car Insurance Rates?

Anyone have an idea of car insurance rates in Texas on a camaro for a 16 year old female beginner driver??

Is AETNA a good health insurance to get?

my benefits package came from work, it offers medical from Aetna is that a good health insurance provider? What about Guardian Plan ppo for Dental??""

How much car insurance ?

Hi, i am a 17 year old. i am wondering how much could i realistically expect to pay for insurance on a Infiniti G35.. i understand it will be high.. but i will have a job , so im trying to play with the numbers to see if i can handle it. how much would it be a month? i understand the affects i have on it. 17 sports car foriegn car Male but i have a 3.0 gpa took drivers education. apparently these raise and the others deduct. how much could i realistically expect to pay a month.""

Insurance when buying 1st car?

How do i go about buying a car (private or dealer) without insurance to test drive it 1st, as i'll only get insurance once i know what car i will have (i live in the UK).""

Why is my car insurance so high?! Im 18 yr old female...! :(?

no accidenets, good student, 2003 jetta GLS 1.8 Turbo...10/20 bodily injury...compr and coll both $500 deductible.... I'm paying about 284 right now and its ridiculous :(""

""Which is better, Term Insurance or Whole Life Insurance?""

Say you're newly married and the wife is pregnant. You have just bought a home and have a large mortgage. Which kind of insurance is best for a family, Term Insurance or Whole Life Insurance?""

How much does it cost to insure a scooter??

I am considering buying a scooter (125cc) to commute to and from work. I am 29 and live in Tottenham, North London. How much approximately would I expect to pay in insurance - I plan to pay about 1000 for a bike.""

Is car insurance cheaper for a 2 seat car?

I heard a 2 seater car has cheaper insurance. Does anyone know how true this is?

Does a car insurance company need to know the state in which the car will be used?

I am buying car insurance for a 21 year old child who will attend graduate school out of state. Primary address will still be with me. Car will be in my name; child/student will be listed as primary driver. Child/student will live in an apartment while at graduate school. Does the insurance company need to know in what state the student will be?

Why are rich people so upset that poor people and youngters can now get affordable 'health care'?

here in mississippi for our age group it's like only $500 a month. No wonder they need to raise the minimum wage.

Cost of car insurance?

I am a 17 year old female. No crashes, good driver. I just got enough money to buy a car, and need to pay for the insurance. I Dont know how much money that would cost. I hear its diffrent everywhere, but what is the adverage for minnesota would you say? I'd appreciate it! thanks :)""

How much is your auto insurance?

Im trying to get n average estimate of auto insurance since i will be driving soon. I know its diffrent from your insurance company but if you live north carolina and your a teenager with a used car what would it most likely be?

What's the average price for moped insurance for ages 18-25?

How much can I expect to pay per month for insurance for a 125cc moped? I'm just looking for a ball park range.

Born abroad car insurance premiums higher?

I have been gathering quotes for car insurance online on confused and was delighted to see the price down at 615 for once as I have been getting car insurance every year since the age 18 and it has always been over 1000. However, just having a quick check over my details to make sure everything I had entered was correct and then I noticed I had ticked the resident from birth box. I was born in Spain as my mother went over there to work and then had me. I was born in 87 and she took me back home in 88 or 89 roughly. (She is a full British citizen born and raised in UK). As I have no contact with my father and I don't even remember being in Spain or nor can I even speak the language well, I feel fully British and also am regarded as a British citizen. My mum also registered me at a british consulate in april 88, just 6 months after I was born. So I put on the form that I became a resident in 1988. I then calculate the prices again and the insurance quotes shoot up with 955 being the cheapest and the rest going up to 1000. I then think back to all the years I have been paying the insurance and building up my no claims and being the perfect driver with no claims despite having to pay the shocking premiums that young people have to pay and this makes me absolutely livid that my insurance goes up by 340 to 400 based on the fact that I was born in Spain and spent 1 year of my life there and the rest of the 23 years as British Citizen raised here. I am just wondering if I could get away with just going ahead and saying that I was a resident from Birth as I have a baby on the way and really wish that my premiums were a reasonable ammount for once or I should go through it and just demand that they bring the premiums down to the 615 like originally quoted! It just makes me really annoyed that they can get away with this kind of stuff and I really don't like the fact that I am having to pay higher premiums just for the sake of it. Any advice on this?""

What is the cheapest in car insurance to got with in europe?

Me and a friend have just got to the uk and plan on going traveling thru Europe in it Who is the cheapest company to go thru ?

List of life and health insurance companies with medical exam?

List of life and health insurance companies with medical exam?

Approximately how much is Home Owners Insurance?

I'm sure it varies by location and value of the house, but approximately how much is homeowners insurance?""

Car Insurance for a Month?

I am going to be at law school and only need car insurance from Mid December until Mid January. Is there a special type of insurance I can get so I don't have to pay year round? The cars will still be covered by my parents the rest of the year.

For Lexus owners: Is it expensive to maintain a Lexus?

Don't bother with saying, If you are thinking about buying a Lexus, you should be able to maintain it. If not, shop for something else. I love the Lexus IS design, both outside and inside. And I'd love to get myself one of these beautiful cars. However, before I take one of these cars in my driveway, I want to make certain I am not making a mistake. These are the questions I want you to answer: 1. I heard the price for one tire is $300... Is this true? If no, how much does one of these tires cost? 2. I heard the price for oil change is $110. If this is not true, how much does it cost you for oil change? 3. I heard if either the front bumper or rear bumper needs replacement, the cost would be $5000. If this is not true, how much do you think a bumper replacement should cost? 4. Although the amount you pay for car insurance is based on your driving history, I heard that the quality of a car does play a major role. I am 27. So, in your opinion, how much do you think I will pay for car insurance for the 06 Lexus IS 250? My driving history has a clean record. I have yet to receive a ticket. 5. What other things I need to know about owning one of these cars? Please answer my question.""

Driving parent's car without insurance?

*I'm 16 with a license *My mom has insurance under Liberty Mutual *I am not on her insurance but the car is insured *I live in Georgia (GA has weird laws so any laws specific to GA would be great)

Affordable liabilty insurance?

Affordable liabilty insurance?

Medical insurance help!!!!!?

Ok so I'm 20 and my insurance is or was IEHP. I am married now and I want to know if this still covers me. I want to go to the clinic and get checked up and get birthcontrol but I'm not sure if its going to cover me. My husband does not have medical insurance either. Can anyone please help!?? :(

""In the state of Texas,Do you have to have auto insurance?""

If you are in a car wreck which the other person is at fault,Can you still file a cliam on their insurance company and have phisical therapy paid and can paid for the damage for the car and get paid for pain and suffering? Even if the insurance was off for less than 24 hours""

car insurance quotes nashville tn

car insurance quotes nashville tn

https://www.linkedin.com/pulse/do-you-have-provide-your-driving-history-before-quote-ethan-cervantes/"

[dipulb3]

$50 billion in rent relief is up for grabs. These landlords are working with tenants to get help

New Post has been published on https://appradab.com/50-billion-in-rent-relief-is-up-for-grabs-these-landlords-are-working-with-tenants-to-get-help/

$50 billion in rent relief is up for grabs. These landlords are working with tenants to get help

“I’m good at finding a job,” said Boggs. “I can usually find one in two weeks tops. But it was really hard. We were both trying to find jobs. And we’re new parents. It was scary.”

So they did something they say made a huge difference in getting them back on their feet: They told their landlord they were in trouble.

“They were patient with us and gave us a ton of resources to call for rent relief and food pantries,” Boggs said about her landlord.

The application for rent relief funds was confusing and difficult, Boggs said, but her leasing office answered her questions and even reached out to funding sources on her behalf.

By the beginning of this year, they were four months behind on their $674 a month rent. But they got a bit of good news in mid-January. Herndon was rehired by his former employer and Boggs found a job at a gas station. Both earning more than before. That same week their rent relief money came through, covering their back rent.

“There was this whole awful storm, then this rainbow,” Boggs said.

Landlords and tenants team up

Typically, rent relief is supposed to bridge a temporary loss of income and help keep renters in place. But massive job losses due to the pandemic have made the need for relief even more critical. Now there is a race to dispense nearly $50 billion in federal aid into communities to cover months of back rent before eviction protections expire.

“Direct financial assistance has been shown to be the most effective approach toward keeping apartment residents safely and securely housed and to preserving the stability of the rental housing industry,” said Bob Pinnegar, president and chief executive officer of the National Apartment Association, which advocates for the rental housing industry.

Money is currently being distributed from the $25 billion in rental assistance from the December stimulus package (the $21.5 billion from the American Rescue Plan Act has yet to be distributed), which can cover an eligible household’s rent and utilities for up to 15 months. There are at least 146 relief programs operating now, including 30 that are statewide, 78 county programs, 34 city programs and four territory and tribal programs, according to the National Low Income Housing Coalition, which tracks the groups distributing aid.

While the tenant typically initiates the request, this batch of aid allows the landlord to start the process. That helps everything move along much more smoothly since property owners may be better equipped to handle paperwork and provide documentation, said Greg Brown, senior vice president of government affairs for the National Apartment Association.

“There is a role to be played by the landlord, it is important and they want to play it,” said Brown. “That’s why it is disturbing that we are hearing about some places where the landlord is not able to apply on behalf of the tenant. It slows it down, doesn’t make the best use of the time or money we have.”

But for tenants, wending through the ad-hoc, evolving system of programs distributing rent relief money can be a full-time job. That’s why many landlords are trying to help.

Don Brunner, the chief operating officer at BRG Apartments, which owns the building where Boggs and Herndon live, said that no one in their properties should be struggling to access rent relief given the amount of aid available and the company’s willingness to work with tenants.

“What we found is that everyone that wanted rental assistance got rental assistance,” Brunner said. “The problem we have is with residents that do not try. If a resident communicated with our office, we worked with them. We would call each resident. Do they need anything? What is their rent situation?”

Brunner said BRG Apartments helped struggling tenants fill out paperwork and connect with rent relief companies. The company, which owns and operates 8,000 units in 45 properties in the Cincinnati, Dayton, and Columbus areas of Ohio, as well as around Louisville, Kentucky, even created its own fund to support residents who fell between the cracks and were not eligible for outside support.

“The biggest challenge is to explain to residents who aren’t communicating with us that they are missing out,” Bruner said. “There is money to be had. It is a matter of going through the right steps to get it. We want to work with tenants to do that.”

A ‘very aggressive’ approach

Many landlords are going on a year without receiving payment from some tenants. They see rent relief as a critical way to keep tenants in place and their operation moving.

“We have taken a very aggressive approach to rent relief,” said Stephanie Graves, who owns and operates several multi-family buildings in the Houston area and is co-founder and chief executive officer of Q10 Property Advisors. “We send out weekly emails, text messages, fliers. We even set up computer centers inside our offices so residents can come in and apply for rent relief online.”

And while she’s had more luck receiving rent relief than other property owners she knows, she says it can still be a struggle to get residents to apply.

“When we can get them in the office, we can help get them through the process,” Graves said. “They have to scan documents, you have to get copies. It is so complicated. And every program is different. You can’t put all of that on the resident who is already delinquent, who is looking for a job. Half of them throw their hands up and say, I’m not going through all that.”

But her outreach has a limit. Ultimately, things work out better for the tenants who engage, said Graves.

“Our policy has been, if you aren’t paying your rent and you go dark, we can’t let you live in an apartment and not pay while your neighbor does,” she said. “If you don’t call us or talk to us, we will file an eviction. If you have a CDC declaration, we may fight it. When we have to evict someone, I want to be sure that we have done everything on our end to help them.”

She said she challenged the CDC eviction moratorium protection on three tenants she sought to evict and won all three cases.

“We want people to live in apartments,” Graves said. “It costs us less money to keep someone there that we can get help for. But when all efforts have been exhausted, we have to be able to get someone out of an apartment when they aren’t paying. They are stealing.”

Still struggling to catch up

One of the tenants Graves and her company are working with is Andre Franklin. He earns $800 every two weeks working at a school. But after taxes and medical insurance are taken out, his take home pay comes to $314.

“That doesn’t even cover a quarter of my rent and bills,” he said. But still, he says, he pays what he can toward his rent to stay in good standing.

Franklin, 30, began the pandemic working at a call center, which paid him enough to afford his rent of $1,059 a month. But after he lost that job in August, he quickly found another one working as a paraeducator in a public school. The problem was it paid about $10,000 less a year.

When he fell behind on rent in September, he let his leasing manager know.

“You never want to have to go and say, ‘I’m behind and I don’t know when I’m going to get ahead,'” Franklin said. “They have been understanding. I think they have been fair. But they are holding me to a standard I’m not able to meet. I’m working 40 hours a week and I still don’t have the money to catch up and I don’t have the money to move.”

His leasing manager told him about the Texas Rent Relief program, through which he was able to get his back rent paid for September to December. But immediately he fell behind again.

“Even if they pay to cover the months they promised, I’m still not able to pay the months ahead,” Franklin said, so he is continuing to apply for rent relief. “It is a catch-up game. I can’t get ahead.”

Programs offering state and local emergency rental assistance across the US can be found at the National Low Income Housing Coalition website. Other information on rent relief programs can be found at the Consumer Financial Protection Bureau website.

[agnarr-mattiasson]

Top 21 Real Estate Investing Terms and Formulas

Becoming familiar with the parc esta condo investing terms and formulas is extremely very helpful (if not crucial) for brokers, agents and buyers who want to service or acquire real estate investment properties. This is not normally the case, though. During my thirty-year experience as an investment real estate property specialist I often encountered far too many that had basically no idea, and it showed - both in their performance plus success rate. As a result, I felt it needful in order to list what I deem are the top 20 properties investing terms and formulas worth understanding categorized while either primary or secondary. The primary terms and formulas are the very least you should know, and the secondary terms takes the software a step further for those of you who are seriously planning to are more actively engaged with real estate investing. Primary 1 . Low Scheduled Income (GSI) The annual rental income a home would generate if 100% of all space were hired and all rents collected. GSI does not regard openings or credit losses, and instead, would include a decent market rent for those units that might be vacant at the time of a genuine estate analysis. Annual Current Rental Income + Gross Market Rental Income for Vacant Units = Uncouth Scheduled Income 2 . Gross Operating Income (GOI) It is gross scheduled income less vacancy and credit burning, plus income derived from other sources such as coin-operated laundry facilities. Consider GOI as the amount of rental income the estate investor actually collects to service the nightly rental property. Gross Scheduled Income - Vacancy and Credit score Loss + Other Income = Gross Operating Salary 3. Operating Expenses These include those costs associated with staying a property operational and in service such as property taxes, insurance plans, utilities, and routine maintenance; but should not be mistaken to make sure you also include payments made for mortgages, capital expenditures or taxes. 4. Net Operating Income (NOI) This is a property's source of income after being reduced by vacancy and credit decline and all operating expenses. NOI is one of the most important car loans calculations to any real estate investment because it represents the income stream online that subsequently determines the property's market value - that is, the price a real estate investor is willing to have the funds for that income stream. Gross Operating Income - Jogging Expenses = Net Operating Income 5. Cash Flow Prior to Tax (CFBT) This is the number of dollars a property generates from a given year after all cash outflows are subtracted as a result of cash inflows but in turn still subject to the real residence investor's income tax liability. Net Operating Income - Bill Service - Capital Expenditures = Cash Flow Before Place a burden on 6. Gross Rent Multiplier (GRM) A simple method made use of by analysts to determine a rental income property's market value based upon its gross scheduled income. You would first calculate a GRM using the market value at which other properties advertised and then apply that GRM to determine the market value for your own personal property. Market Value ÷ Gross Scheduled Income = Gross Rent Multiplier Then, Gross Scheduled Income times Gross Rent Multiplier = Market Value 7. Max Rate This popular return expresses the ratio in between a rental property's value and its net operating income. Typically the cap rate formula commonly serves two useful realty investing purposes: To calculate a property's cap pace, or by transposing the formula, to calculate an important property's reasonable estimate of value. Net Operating Profits ÷ Value = Cap Rate Or, Net Working Income ÷ Cap Rate = Value 8. Hard cash on Cash Return (CoC) The ratio between the property's cash flow in a given year and the amount of primary capital investment required to make the acquisition (e. g., mortgage down payment and closing costs). Most investors normally look at cash-on-cash as it relates to cash flow before taxes within first year of ownership. Cash Flow ÷ Initial Growth capital Investment = Cash on Cash Return 9. Performing Expense Ratio This expresses the ratio between the investment real estate's total operating expenses dollar end up its gross operating income dollar amount. It is depicted as a percentage. Operating Expenses ÷ Gross Operating Cash flow = Operating Expense Ratio 10. Debt Coverage Relation (DCR) A ratio that expresses the number of times gross net operating income exceeds debt service (I. elizabeth., total loan payment, including both principal and interest). Net Operating Income ÷ Debt Service = Arrears Coverage Ratio DCR results, Less than 1 . 0 : not enough NOI to cover the debt Exactly 1 . 0 -- just enough NOI to cover the debt Greater than 1 . 0 - more than enough NOI to cover the debt 11. Break-Even Ratio (BER) A ratio some lenders calculate to gauge all the proportion between the money going out to the money coming to enable them to estimate how vulnerable a property is to defaulting on the debt if rental income declines. BER reveals the actual percent of income consumed by the estimated expenses. (Operating Expense + Debt Service) ÷ Gross Operating Cash = Break-Even Ratio BER results, Less than 100% : less consuming expenses than income Greater than 100% -- more consuming expenses than income 12. Loan for you to Value (LTV) This measures what percentage of a property's appraised value or selling price (whichever is less) is certainly attributable to financing. A higher LTV benefits real estate investors through greater leverage, whereas lenders regard a higher LTV in the form of greater financial risk. Loan Amount ÷ Lesser in Appraised Value or Selling Price = Loan to Worth Secondary 13. Depreciation (Cost Recovery) The amount of tax reduction investment property owners may take each year until the entire depreciable possession is written off. To calculate, you must first find out the depreciable basis by computing the portion of any asset allotted to improvements (land is not depreciable), then amortizing that amount over the asset's useful life because specified in the tax code: 27. 5 years just for residential property, and 39. 0 years for non-residential. Property Value x Percent Allotted to Improvements = Depreciable Basis Then, Depreciable Basis ÷ Useful Daily life = Depreciation Allowance (annual) 14. Mid-Month Convention The adjusts the depreciation allowance in whatever month the particular asset is placed into service and whatever month it will be disposed. The current tax code only allows one-half of your depreciation normally allowed for these particular months. For instance, any time you buy in January, you will only get to write down 11. 5 months of depreciation for that first time of ownership. 15. Taxable Income This is the amount of cash flow produced by a rental on which the owner must pay Federal tax. Once calculated, that amount is multiplied by the investor's marginal tax rate (I. e., state and federal combined) to arrive at the owner's tax liability. Net Managing Income - Mortgage Interest - Depreciation, Real Place - Depreciation, Capital Additions - Amortization, Points as well as Closing Costs + Interest Earned (e. g., place bank or mortgage escrow accounts) = Taxable Source of income Then, Taxable Income x Marginal Tax Rate = Tax Liability 16. Cash Flow After Tax (CFAT) The amount of spendable cash that the real estate investor makes out of your investment after satisfying all required tax obligations. Cash Before Tax - Tax Liability = Cash Flow Once Tax 17. Time Value of Money This is the primary assumption that money, over time, will change value. It's a key element in real estate investing because it could suggest that the timing of receipts from the investment might be more important in comparison to the amount received. 18. Present Value (PV) This demonstrates what a cash flow or series of cash flows available in the long run is worth in today's dollars. PV is calculated by "discounting" future cash flows back in time using a given discount fee. 19. Future Value (FV) This shows what a cash or series of cash flows will be worth at a particular time in the future. FV is calculated by "compounding" the principal sum forward in time at a given compound quote. 20. Net Present Value (NPV) This shows typically the dollar amount difference between the present value of all foreseeable future cash flows using a particular discount rate - your own required rate of return - and the initial hard cash invested to purchase those cash flows. Present Value of most Future Cash Flows - Initial Cash Investment = Net Present Value NPV results, Negative - the essential return is not met Zero - the required return is without a doubt perfectly met Positive - the required return is realized with room to spare 21. Internal Rate regarding Return (IRR) This popular model creates a single lower price rate whereby all future cash flows can be discount until they equal the investor's initial cash investment decision. In other words, when a series of all future cash flows will be discounted at IRR that present value amount will probably equal the actual cash investment amount. So You Know ProAPOD's real estate investment software solutions as well as iCalculator - it's web based real estate calculator - apply these formulas and produce these calculations automatically.

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Co-Buying: How Cash-Strapped Millennials Are Becoming Homeowners Without Family Help

hitareeSarmkasat/iStock; realtor.com

As a single mother of two, Kelsey Perkins was able to buy a five-bedroom house last year in a suburb of Denver, CO—one of the priciest housing markets in the country. She didn’t have a high-paying corporate job, a lot of savings or even assistance from her parents to put toward the $470,000 home.

But she did have friends: another single mom and a male musician, both of whom were willing to sign on the dotted line along with her. Today, they live in a house they all own and share, with each person paying just under $900 a month to cover the mortgage. Other expenses, including utilities, are split separately.

“I could have perhaps afforded a one- or two-bedroom condo in the neighborhood or just outside it, but it would have been tight,” said Perkins, 34, who works from home as a customer service representative for a sticker company. “What we could do collectively was much more than we could do individually.”

Amid fast-rising home prices, living costs, and student debt loads, many millennials and other cash-strapped buyers have found they’re not able to buy on their own. But they don’t want to rent forever and miss out on gaining equity in property, either.

So, some have found a workaround to the housing affordability crisis: banding together and pooling resources to come up with the down payments and closing costs that make homeownership a reality.

With median home prices hovering above $300,000 nationally, together they can qualify for larger mortgages to cover bigger homes in more desirable areas, while also sharing ongoing expenses such as property taxes and repairs.

About 4% of first-time buyers purchased homes with housemates from July 2018 through June 2019, according to National Association of Realtors® data. And while that probably doesn’t sound like much, it’s double the percentage of those same buyers in the previous 12-month period.

“There’s a lot of people who are looking at homes today and saying: I can’t afford this by myself. I’m [on a] single income. … How can I get into a house?” says Jessica Lautz, vice president of research at NAR. “Finding someone who’s renting currently and matches your ideal [co-buyer profile] sounds like a great idea. Why not have a stable home and gain equity at the same time?”

In the sharing economy era, co-buying is likely to expand beyond urban centers, especially with the trend of millennial buyers moving to small towns for affordability, says Lautz.

It’s already led to a rise in organizations that help individuals work out multiple-buyer arrangements, and to innovative programs that offer down payment funds to home buyers in exchange for a stake in home equity.

More than three-quarters of Americans believe homeownership is a good financial decision, a 2019 NAR study reports. But about half of non-owners believe it would be difficult based on their current financial situation.

“It really made sense to us that if we were able to find a place that met everyone’s needs, we would be able to support each other,” says Perkins. “And it would be much more doable from a financial standpoint.”

Kelsey Perkins, left, a single mother, was able to become a homeowner by buying a property with friends.

Courtesy of Sarah Wells

Get everything in writing—including exit strategies

Needless to say, buying a home with friends or roommates isn’t nearly as simple as going in on a pizza or vacation together. Fannie Mae, for instance, requires that co-owners buy properties as joint tenants. That way, if one owner dies, their share goes to the other owners and not to the heirs of the deceased person.

Turning a co-ownership into a limited liability company (LLC) after closing can provide certain legal protections and tax benefits. It can also allow for the partnership to change as people move in and out.

The hardest part, however, is helping clients negotiate the personal terms of the deal, says Michael Soon Lee. He’s a real estate broker associate with Realty One Group in the San Francisco Bay Area suburb of San Ramon, CA.

Important issues to consider range from big financial choices to the smallest details of living together. They include:

Whose name(s) goes on the title?

Who’s responsible for collecting and making the mortgage payments?

Who will oversee maintenance and repairs?

What are the rules for pets, houseguests, and other visitors?

How will decorating and furniture-buying decisions be made?

  Even before they look at properties, Soon Lee tells prospective co-buyers that they should closely examine each individual’s finances, from credit scores and tax payments to bank accounts. One person who has a tax lien can negatively affect the others’ ability to get a loan, for instance.

It’s just as important that co-buyers have a comprehensive legal agreement that stipulates each person’s responsibilities—and clear exit strategies.

This way, no one’s locked in if people aren’t getting along. A co-owner may want to move in with a romantic partner or move away for a new job. Alternatively, someone may default on the payments.

The average price point for three co-buyers in the San Francisco Bay Area is about $900,000 per residence, and no two agreements are the same, Soon Lee says. As he helps them purchase a home, he says, his role is as much as a psychologist and counselor as a real estate broker.

“[Co-buying] is a business transaction, even if it is done among friends,” he says. “Compromise is the ultimate word. You’re looking for people who are flexible and have the greater good in mind. Those are the people who make this work the best.”

And it’s not a decision—or process—to take lightly.

“Every deal will be slightly different, because the markets are different, the [buyers’] motivations are different,” says Leena Bella Mayo, the founder of Home Buyers Unite.

Her national property co-buying service provides a free membership platform with worksheets, agreements, agents, lenders, and ongoing assistance.

Similarly, Pam Hughes and her son founded CoBuy in Seattle to streamline the co-ownership process by educating prospective home buyers and connecting them with real estate agents and other professionals.

Options like co-buying are vital to communities and can set a city apart by helping to draw and keep a workforce, Hughes says.

“That’s important when you have Amazon and Microsoft and Salesforce in your backyard,” says Hughes. “They’re trying to attract millennials at a time when wages, while attractive, aren’t keeping pace with the increase in housing prices.”

It’s not just about the money: Co-living can foster community

For some co-buyers, it’s not just about being able to afford a home and build equity in expensive parts of the country. Some friends (and strangers) also seek the companionship of shared living space.

Sarah Wells witnessed that firsthand when she took about 100 people through co-buying classes in Denver last year.

With rents going higher and higher, she says, some landlords are taking advantage of people of limited means—and renters are eager to find a way out.

“There’s a financial need to innovate in the housing sector, and we’re starting to see more and more cases of the loneliness epidemic,” says Wells, who also runs Queen City Cooperative, a Denver-based housing co-op. “Creating community housing is a way to address both of those things.”

Two friends, Jack Teter, 29, and Kyle Huelsman, 30, turned to Wells when they decided to buy their rental from the landlord for $860,000 in 2018. They had been running a co-operative for two years in the house, which is located in a charming downtown Denver neighborhood popular with 20-somethings and young professionals.

The house has eight bedrooms, a fully finished attic, 3.5 baths, and three living rooms, and includes a renovated garden-level apartment with a private entrance. It’s ideal for group living.

On the second floor, Huelsman and his wife, Kathleen (now also a co-owner), live in two rooms, while Teter and his partner live in another two rooms. The couples share a bathroom. Three other housemates—men and women ranging in age from 22 to 34—currently have month-to-month leases.

At one point, more than 100 people applied to live in the house, Teter and Huelsman say.

“We asked how we do something that is really different from the status quo,” says Huelsman, who works at the State Innovation Exchange, a national resource and strategy center. “We’re changing [our] life trajectory. I want to have a strong community, and this felt like a powerful way to express that.”

Teter, the Colorado political director of a national reproductive health care provider, used family money to pay 80% of the down payment, which serves as the equivalent of a no-profit, interest-free loan. Rental income is evenly split between the two groups of owners, to help cover the mortgage.

Individuals who earn more money pay more rent, which ranges from $500 to $1,000 per person each month and is never more than 28% of minimum wage. Nor is rent an income source for the co-owners, who pay additional funds, as the only ones gaining equity.

“We talk about this as a long-term, permanent thing,” says Teter. “I very much anticipate and would like to raise kids in a house with Kyle and his wife and kids.”

The post Co-Buying: How Cash-Strapped Millennials Are Becoming Homeowners Without Family Help appeared first on Real Estate News & Insights | realtor.com®.

from https://www.realtor.com/news/trends/millennials-co-buying/

[suraj-singh1]

What Type of Business Expenses Can I Claim?

What Type of Business Expenses Can I Claim?

We’re going to be looking at allowable business expenses. This is what we’re going to be covering today. These are our aims. We’re going to be looking at the day to day, allowable expenses, how to become a tax-efficient company, some frequently asked questions, and some examples.

These are the day to day expenses I would expect you to have in your Crunch account. Travel to and from a temporary place of work, if your home is your permanent place of work, any accommodation overnight if you’re having to stay over, mileage if you’re driving, train travel or taxis and subsistence. Subsistence is your lunch as you’re away from home to your temporary workplace, sometimes breakfast if you’re up early in the mornings. Please make sure you keep your receipts for this because this does differ if you’re previously been an umbrella company.

Entertainment You have your staff entertainment, so this is you and your partner for a Christmas party or throughout the year, but bear in mind, there are 150 Pounds, including that limit, per attendee, annually. Any other entertainment, that is actually disallowed for corporation tax purposes, but it is more tax-efficient for your company to pay for it. It’s important to differentiate between the two when you’re entering these expenses into Crunch.

Other days to day expenses Some of these could be a P11D benefit, which would mean your company would be liable for 13.8% national insurance. They would be included in your self-assessment and taxed at whatever income tax rate you’re taxed at. Not always though, so just bear that in mind. Accountancy fees … If your company pays for your self-assessment, then that would be a P11D benefit, because you personally have benefited from your company paying for your self-assessment.

Professional subscriptions These have to appear on the HMRC approved list. Use of home office … We have a separate slide on this, so we’ll go over that in more detail. Telephone and internet … I would much prefer to see your telephone and internet costs in your company’s name, not your name personally. HMRC has some special rules around this.

Medical insurance This is a P11D benefit because again, you personally going to be benefiting from your company providing you with additional insurance and any training. Mostly, training would be allowed, unless it brings new skills, new understanding or enables you to do a job differently to the hat you do it now. These are other allowable expenses. Your company can make charity donations. You can have childcare vouchers.

Eye test and glasses With respect to the glasses, if you already wear glasses, it’s unlikely that you’ll be eligible to claim for new glasses because your eyesight is already in need of glasses. General office stationery, pens, paper, pads, just general office expenses, those are all fine. Your company formation fees, gifts, both of these are disallowed for tax purposes, but again, they are business expenses, so your company can pay for them. Any equipment that you need, any software and pension payments also got a separate slide on pension payments, too, because that does help you to be tax efficient.

Here’s the use of the home office. HMRC allows you to claim 4 Pounds a week without it giving rise to any additional tax and you don’t have to offer up any receipts for that, either. Alternatively, you can claim for a proportionate of your home bills, so you’d need to add up what your rent or mortgage interest is, your utility bills, council tax, home insurance and then proportionate by the numbers of rooms and the numbers of hours that you use those rooms. Keep a record of those breakdowns. We do have a spreadsheet that we can send you that helps you to break out this information and I would also strongly recommend that there’s an agreement between you, the homeowner, and the company, just to say what you are allowed to do in those rooms and what times. I would never expect you to use 1 room 100% for business use. This could give rise to a capital gains liability when you sell your property.

Here’s our separate slide on the pension contributions. If you wanted to make personal pension contributions, then that’s limited to your salary, if you have one. If you have a Crunched tax-efficient salary, then your maximum pension contributions can be $7,956, so it’s not a huge amount that you can pay into your pension tax efficiently. Therefore, your company can pay an unlimited amount to your company pension, but there is an annual limit of 40,000 pounds for the 14/15 tax year. That’s a significant amount your company can pay in, tax efficiently.

Here’s a couple of other tax-efficient examples. There’s an annual investment allowance, which you can claim for business assets, things like equipment, furniture, computers, printers. The equivalent cost is what you then save in tax. If you buy the equipment for 3,000 Pounds and you’ve got profits of 15,000 Pounds before corporation tax, you take off the 3,000 Pounds that you’ve paid for your equipment, so therefore you only pay the corporation tax on the 12,000 Pounds difference and overall, that’s a saving of 600 Pounds.

For the next part of the webinar, we’re going to be covering off some frequently asked questions. We do get many questions at Crunch about the 24-month rule, simply because you could get a contract for a period of time. Sometimes it comes to an end and sometimes it gets extended. This is a 2 part test that we have to look at. If your initial contract is less than 24 months, again, your home being your permanent place of work and you’re traveling to a temporary workplace, you can claim for travel and subsistence to that temporary workplace.

If your contract to start with is greater than 24 months, you can’t claim for any travel or subsistence. This is because that place of work will become your permanent place of work. If you pass part 1 of the test, you can then move on to part 2 of the test. In order for you to be able to claim the travel and subsistence, there needs to be a reasonable expectation that you will get further work after that contract is terminated or just naturally comes to an end. It doesn’t have to be with that same company, but you need to remain employed by your same employer, which would be your limited company and the further work has to be at a different location after that first contract comes to an end. It could still be within the square mile of London, but it just has to be at a different location.

Some other frequently asked questions Accommodation while you’re working away … This example here, you live in London, but you’ve got a contract in Liverpool. It works out cheaper instead of commuting every day to Liverpool to rent a flat. All of those bills would be allowed for business expenses, simply because you’re only there to fulfill a contract, so it meets the wholly and exclusively terms to help by HMRC. Any travel to Liverpool is also allowed and travel to the rented flat to the office is disallowed. This is because that’s your permanent place of work for that period of time and again, the contract can’t exceed 24 months, otherwise, the same rules apply, in terms of an actual permanent place of work and therefore none of the bills are allowed.

Some other frequently asked questions:- Subsistence day today Your home is your office, so, therefore, going out to your client’s offices to work, that’s your temporary place of work, so you can claim for lunch, breakfast if you start early, and if you work longer than 10 hours, then you can claim an evening meal, as well. I would note that the cost does need to be reasonable. Eating at the Ritz every lunchtime would probably be deemed unreasonable from HMRC’s point of view, but grabbing a sandwich, some crisps, and a drink, that would be a reasonable expense.

Again, with overnight accommodation, a 5-star hotel probably would be unreasonable, especially if you’re taking your partner with you, but then you could also proportion the cost. You’re staying in a 5-star hotel because you’re taking a partner, so just claim for half the cost, but note that you can only claim their full half of the vat back if you are a standard rate BAT scheme.

More frequently asked questions:- work clothes Unfortunately, these have a duality of purpose. You could wear that at work, as well as at your leisure. Therefore, this would be disallowed for corporation tax purposes and we would ask you to delete these expenses from your Crunch account and HMRC do not allow any type of work clothes unless they’re safety clothes and then the rules are slightly different. A suit for work is not allowed for tax purposes.

Let’s have a little recap of what we’ve covered. Expenses must be wholly and exclusively for business use. This is really important. You have to ask yourself, “For my job, for my business,” any contracts that you enter into, whether it be for training, internet, telephone, need to be in your company name. The help center has a whole heap of questions and answers and also there are the guides that are available from the Crunch website for you to download.

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Repair Your Credit Legitimately

"In the previous year I have had an enormous quantity of customers and experts (Lenders, CPA's, Realtors, Lawyer, and Wealth Management Companies) asking for clearness about the options offered to individuals suffering hardships in this economy. Obviously thy desire the most useful solution for every different situation. Although we deal with many incredibly talented and experienced specialists in this continuously altering home mortgage and finance economy it is hard for numerous to stay up to date with choices offered. Staying abreast of the rules and choices within their own industry is a great deal of let alone all the other locations that impact their customers and potential customers.

All of these opportunities might be a good option in the right scenario however may be a dreadful option and a substantial waste of money if all options aren't understood. I will try to drift off from excessive detail to keep the confidentiality of each person.

We spoke with a lady in her 40's living in NY with a house she owned in FL. She was unable to get any earnings from her Florida residential or commercial property for various factors. She was renting in NY and working 2-3 tasks to cover the expenses. Her income had to do with $38,000.00. Her Florida home deserved 40% less than her mortgage. She owed $50,000.00 in charge card financial obligation and she remained in and out of the health center with different medical problems. She was very psychological (as a lot of have to do with altering their scenario).

We have actually seen time and time again great individuals attempting to stay above water for way too long. They wind up paying 10's of $1000's more than necessary because they hesitate of the word ""INSOLVENCY"". The factor she pertained to us was to tidy up her credit so she could improve interest rates on her charge card debt and maybe re-finance her home. Her credit was a mess with lots of accounts late, charge offs, and collections.

Here were her choices: Credit Remediation would cost her over $2,800.00 and if she had a new late while doing so (which she would have due to the fact that she was having trouble paying her costs) her score would drop significantly and whatever payment she made to us would be money tossed out the window. One new late payment decreases ball game anywhere from 50-100 points depending on how high the score is prior to the brand-new late. She can't refinance her mortgage loan since your home was worth much less than her existing home mortgage and her credit was so bad that the banks would not authorize her anyway. She already tried a loan mod and could not get authorized.

Financial obligation Debt consolidation, which is non for revenue business, would have decreased her interest on charge card financial obligation and had her pay the lenders small payments month-to-month (through them)over a longer period of time. Her $50,000.00 debt would become $65,000.00 with the interest and brand-new length of payment strategy to her creditors. It could take 5-10 years to pay off the debt. After completing the program she would require credit repair work which would cost an extra $2,800.00 and take up to a year. Her total cost would be around $67,500.00 and the time element might be 5-10 years.

Debt Settlement; A business would settle the debt for a minimized quantity (usually 40% of financial obligation). This ran out the concern given that she required the funds to pay her financial institutions in one shot and did not have savings. She would have needed about $20,000.00 to $30,000.00 readily available to pay the charge card financial obligation once it was settled. If she had the swelling sum funds she would have needed to pay the federal government taxes on the $20,000.00 - $30,000.00 she conserved since it is viewed as earnings.

Then she would need to tidy up her credit which would cost her $2,800.00. So she would be paying in total if she saved $30,000.00 and she went to a normal debt settlement business (they would have charged her 15% of what they saved her): $20k for financial obligation+ $4,500.00 debt settlement company+$8,400.00 to the IRS if she remained in a 28% tax bracket. Total paid $32,900.00 + $2,800.00 to tidy up credit = $35,700.00 This entire procedure would probably take 1-2 years.

If she offered your home in a short sale she would be forgiven the quantity the Bank lost.

- Home mortgage $300,000- Sold house for $160,000- Government forgives the tax on the $140,000 earnings bank forgave on her mortgage- Goes to bankruptcy and pays $1500-$1800 for Attorney- Wipes out debt of $50,000 to credit card companies- Plus one year later on we clean up her credit which costs her roughly $2800 and it takes 6-12 months to finish.

Her total expense has to do with $4,500.00 to erase $190, 000.00 of financial obligation and start over. It took her 4 more months and cost her another $4,000.00 considering that she attempted to stay afloat and pay her home loan and credit card financial obligation up until she was willing to accept the insolvency choice. It was the stigma (fallacy) of insolvency that stopped her at first. You can get a mortgage about 2 years after bankruptcy or earlier (speak to your mortgage expert). We discovered later on that she had utilized the increasing value on her home, before the market crashed, to take a loan of $60k. She actually generated income on her house.

Another example: a Designer owns a home that has actually held its worth but his mortgage was still nearly the value of his house. His salary went from $175,000.00 to $40,000.00 in the in 2015. He has $85,000.00 in charge card financial obligation and had late payments in the previous 8 months. His rates of interest with the creditors sky rocketed and they decline to reduce them. He is struggling to pay the charge card payments and living under unbelievable tension and fear. He never thought he might go to personal bankruptcy given that he owned a house. He is the only earnings earner in the household and has 2 youngsters in private school. He came to us for suggestions and we linked him to an insolvency Lawyer and a possible loan mod too. This was his best alternative and he was relieved he didn't have to give up his home.

I talked to an elderly man whose business just liquified. He has a house with a little loan and big value. He has savings but his better half was ill with a chronic disease and he was suffering from anxiety. He owed $40,000.00 in credit card debt and had a 750 credit score. He and his partner were not making any earnings. After speaking to him for a while I found out that he did not require his credit and was not worried about his ratings lowering. He was not a prospect for Bankruptcy and it made sense for us to negotiate his financial obligation. The financial institutions would not even speak to us up until he was 4 months late and his credit report dropped. It was a tough circumstance for him and his wife because they were bombarded with pestering telephone call (even after informing their financial institutions to stop calling them) day and night. They believed it out and we had the ability to save them about $24,000.00. They were extremely happy and relieved at the end of the procedure. It did cost them $2,000.00 for our services and the taxes paid on their savings to the IRS. Remember each situation is different in terms of taxes paid and should be talked about with your CPA.

An expert with a family owning a house upwards of $1,000,000.00 in Long Island. After owning the house for a year he took a loan on the increased worth to remodel (about 29 months ago). He has a salary of over $250,000.00 and is the only income earner in his household. He called to inquire about Debt Settlement after he had discussed this option with a Financial obligation Settlement Business that had contacted him. He owed over $175,000.00. They more than likely found him on a list the credit reporting agencies offered looking for high debt individuals. He was hardly covering his home loan and having a difficult time paying his credit card debt. His rate of interest on the charge card debt were hiked up due to the fact that his balances were extremely high if not at the limitations. He was informed by a Financial obligation Settlement Company that his credit would not be destroyed (even though he would have to stop paying his financial obligation) and he would most likely not need to pay taxes on his cost savings.

He would have to put loan into a bank account through them up until he saved up adequate money for the Settlement Business to pay the financial institutions 40% of what he owed. They would take their charge first and when he had sufficient cost savings they would start to negotiate his debt. The majority of this was incorrect. If you do not pay your bills on time you will have late payments on your credit report END OF STORY. He really required to check out getting a loan modification first because the quantity of his mortgage was, most likely, more than his residential or commercial property worth. If he had lots of settled accounts with late payments he might not have actually gotten approved for the loan mod. We referred him to an Attorney to discuss his home mortgage situation and recommended him versus financial obligation settlement until he examined the loan mod choice initially. He likewise needed to find out what the pacific national funding tax implication would be if he had $100,000.00+ contributed to his $250,000.00 earnings after his credit card debt was settled for less.

A woman earning $100,000.00 with $30,000.00 of charge card debt and very high costs. Her balances are extremely near limitations and some over the limitations. She desires to pay her financial institutions however can't deal with the high rate of interest and increased minimum https://en.search.wordpress.com/?src=organic&q=https://www.daveramsey.com/blog/debt-consolidation-truth payment. She owns a condominium in Manhattan with a little equity and had a piece of property upstate with a worth of $30,000.00. She was rejected a loan versus her residential or commercial property because of low ratings from her extremely high balances on her revolving credit card financial obligation and although her property was on the marketplace it was not selling. Debt Debt consolidation might be the finest option for her considering that her interest rates could be minimized to 6% rather than the 23% she is paying presently. She will pay them a small fee plus a decreased month-to-month payment which they will deliver to her financial institutions.

It is essential that she understands Consolidation Business might make her decreased regular monthly payments late or put a mark on her credit profile specifying she remains in a debt combination strategy. This mark affects the ratings negatively. She can likewise ask the DC Company to keep this info off her credit profile and to make sure payments are made on time however there is no warranty this will occur. We have seen the scores drop significantly since of these marks. The credit can constantly be cleaned up in the future when she gets a manage on her financial obligation. If she is conserving 17% interest on her $30,000.00 and her payments are not extracted for ten years it might be a good choice in this scenario.

All these examples show the various choices readily available and the battles we are seeing in this economy. Something we find once again and once again is the misunderstanding that a personal bankruptcy is so much even worse for the credit than anything else. If you have excellent credit history and you have a new late payment ball game will drop 70-100 points. If you continue to have more lates ball game will drop further. If your rating is currently really low an insolvency will not drop it much lower. Credit history are driven by what is taking place now. As the unfavorable details on the credit report age ball game increases. We can likewise improve the credit a year after insolvency. Once your credit history are low it is pointless to stress over ball game if you can't pay your expenses and are having problem with standard requirements.

Credit history can always be improved. It is unfortunate to see a person struggling to pay credit card financial obligation prior to feeding themselves. Insolvency is there for a factor and can be a terrific tool in these difficult times. It is necessary for consumers to look for out information prior to deciding to move on. Talking with a Bankruptcy Attorney, Debt Debt Consolidation Business, Mortgage and Loan Mod expert, a great Realtor for short sale details, and a Credit Restoration company are very important to make an educated choices. There are some professions that will not work with a person with a personal bankruptcy on their record so when seeking information make sure to ask about this possibility and how it relates to your career."

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Tenants behind on rent in pandemic face harassment,… | Brinkwire

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BALTIMORE – Jeremy Rooks works the evening shift at a Georgia fast-food restaurant these days to avoid being on the street past dusk. He needs somewhere to go at night: He and his wife are homeless after the extended-stay motel where they had lived since Thanksgiving evicted them in April when they couldn´t pay their rent. They should have been protected because the state’s Supreme Court has effectively halted evictions due to the coronavirus pandemic. But Rooks said the owner still sent a man posing as a sheriff´s deputy, armed with a gun, to throw the couple out a few days after rent was due. The pandemic has shut housing courts and prompted most states and federal authorities to initiate policies protecting renters from eviction. But not everyone is covered and a number of landlords — some desperate to pay their mortgages themselves — are turning to threats and harassment to force tenants out. “Every day, they tried to basically get us out of there. It was basically like a game to them,” said Rooks, who wasn´t able to make his rent at the Marietta, Georgia, motel after his employer paid him late and his wife was laid off in the pandemic. “One of us had to stay in a room at all times because they wouldn´t redo the keys for us.” The evictions threaten to exacerbate a problem that has plagued people of color like Rooks long before the pandemic, when landlords across the U.S. were filing about 300,000 eviction requests every month. The data and analytics real estate firm Amherst projects that 28 million renters, or about 22.5% of all households, are at risk of eviction. Tenant advocates expect that number to increase significantly unless protections are put in place, and project that many of those affected will be African Americans and households led by women, both of which historically are more likely to be evicted. In a sign of what could happen nationally, Virginia has seen a crush of proceedings since eviction hearings resumed May 18. About 700 cases already have been heard statewide, according to Christie Marra, director of housing advocacy for the Virginia Poverty Law Center. On top of that, 2,200 cases are on the docket for the end of June and early July in Richmond, which has one of the country´s highest eviction rates. Rachel Garland, an attorney at Community Legal Services in Philadelphia, said her group has experienced a spike in calls from tenants who lost their jobs due to the lockdown and fear being evicted. Philadelphia had the fourth-highest eviction rate in the country. “Even if they can´t be evicted right now, if the courts are closed, the landlords are sending threatening emails, text messages, asking for rent, threatening to lock tenants out,” Garland said. Alieza Durana of Princeton University´s Eviction Lab said affected tenants face high rates of depression and suicide from the stress, along with mounting debt and homelessness. Additionally, court judgments and debt collection actions against renters are reported to credit bureaus, affecting their ability to access housing for years. Jose Ortiz, deputy director of Essex/Newark Legal Services, which includes New Jersey´s largest city, said he´s heard complaints from tenants who have been asked to exchange sex for rent and instances where landlords have threatened to alert immigration authorities about tenants living in the country without legal permission if they don´t pay their rent. “They are not working. They don´t have the income to pay their bills and they are afraid about what will happen once the eviction ban is lifted,” Ortiz said. “Are they going to be displaced? Is there going to be a mad rush to the courthouse to get these tenants evicted?” Tenants also are complaining about landlords locking them out and shutting off utilities. Unable to pay her April rent in full on her townhouse in Millersville, Maryland, Dawn McBride said she began getting texts from her landlord suggesting she find work at Walmart or Costco. She said the landlord then tried to get her to sign a rent-deferral agreement, but wouldn´t let her fully read it. She ultimately was handed a 30-day notice to vacate because her lease was month-to-month, a strategy landlords increasingly are using. “Honestly, it stresses me out a lot because it´s me and my children,” said McBride, who lost her pet-sitting job. “And, you know, I´m just like, `Where are we going to go?´” Some tenants facing eviction have turned the table on landlords and are organizing rent strikes. From New York to Chicago to San Francisco, tenants are banding together and demanding landlords negotiate with an eye toward forgiving their rent entirely until the pandemic ends. Many like Diana Hou, who lost her job with a political campaign and has helped organized a rent strike in her Brooklyn building with her half-dozen roommates. are pushing for legislation at the state and federal level to provide rent and mortgage relief. “Many of us are worried about our prospects of securing housing without income and with a looming debt of unpaid rent. For the majority of the house, not being able to secure housing would mean homelessness in the middle of a pandemic,” Hou said. Jay Martin, executive director of the Community Housing Improvement Program, which represents 4,000 building owners in New York, said he doesn’t condone rent strikes but sympathizes with tenants’ plight. “Renters need a bailout,” Martin said, adding that landlords are supporting federal proposals that would cover back rent and future payments. Without those measures, he predicted a drop in property and real estate taxes that would sap state and city budgets. The federal government´s $2.2 trillion coronavirus rescue package includes eviction moratoriums for most people living in federally subsidized apartments, as well as homes covered by federally backed mortgages. A second $3 trillion coronavirus relief bill passed in May by the U.S. House would provide about $175 billion to pay rents and mortgages, but has almost no chance of passing in the Republican-controlled U.S. Senate. State and local lawmakers across the country also are stepping in with assistance and proposals aimed at averting a wave of evictions. New Jersey lawmakers passed a $100 million rent relief bill, while in Pennsylvania, Gov. Tom Wolf signed legislation directing $175 million of the federal coronavirus rescue package to rent and mortgage relief. Boston is providing $8 million for rental assistance, Baltimore has designated $13 million in federal coronavirus relief funding to start a rental assistance program, and Philadelphia provided $10 million to help about 13,000 people with their rent. Other proposals would offer long-term payment plans for those unable to afford rent and programs like mediation before cases head to housing court. “We have to do something,” said Philadelphia Council member Helen Gym, whose bill would prevent evictions until two months after the state´s emergency order was lifted. “We can´t go back to business as usual in a city that evicts 18,000 people a year,” she said. “That is just not sustainable.”

[itsfinancethings]

In the mid-1960s, Greta Arceneaux was a young mother of two in the midst of a divorce with a low-paying secretarial job and an old house in Los Angeles. Dreaming of a better life for her family, she took out a loan, tore down the aging home and used the land to build a five-unit rental complex that, she hoped, would serve both as a home for her and her children and a ticket to the middle-class.

“I was a clerk with very little means, but a whole lot of guts,” recalls Arceneaux, now 81. Her plan worked. Over the years, income from that modest rental complex enabled Arceneaux to help put her children and grandchildren through college, purchase a separate home for herself, and save for her retirement.

Then the coronavirus pandemic upended it all. When COVID-19 reached U.S. soil, killing tens of thousands of Americans and squeezing the economy, the federal government, states and municipalities issued a raft of rent protections, including months-long eviction moratoriums. While such policies were issued in good faith—they were designed to protect renters who have lost their incomes from losing the roofs over their heads, too—they have leveled a crushing blow to small, independent landlords, like Arceneaux, who rely on a handful of rental units for their livelihoods.

Though the protections are dictated by local officials and vary by area, many are long-term: In the city of Los Angeles, where Arceneaux’s property is, tenants who have been impacted by the virus will have up to 12 months from the end of the city’s emergency declaration to repay their back-rent without late fees. In New York state, eviction protections last until the end of August, and in Pennsylvania, renters are shielded from evictions until mid-July.

For Arceneaux the city’s order has resulted in $15,000 in unpaid rent and $0 in government assistance to help her pay for maintenance expenses and other bills, including her personal mortgage. New California building codes also require her to pay at least $60,000, she says, for earthquake prevention reinforcement in one of her units by the end of the year. “My retirement is going down the tubes because of this,” she says.

The complexity of the broader economic crisis and its impact on renters is not lost on Arceneaux. “I feel sorry for him,” she says, describing one of her tenants who lost his job and stopped paying rent. “He’s caught in a situation just like I am. But why are they throwing me under the bus? Why am I responsible for him?”

Problems with eviction moratorium policies are twofold. First, not all landlords are alike. Large, wealthy real estate firms and development conglomerates don’t control the entire market: In fact, just over half of the U.S. rental supply, about 25.8 million units, are owned by business entities, according to the 2015 American Housing Survey. The other 22.7 million rental units are owned by individuals, who are more likely to own single units, homes and duplexes, and are often called “mom-and-pop” landlords.

The second issue is that while wealthy hedge fund investors and real estate firms, who are represented by powerful Washington lobbyists, will benefit from over $100 billion in tax breaks buried in the $2 trillion CARES Act, mom-and-pop landlords, for the most part get nothing. (The CARES Act tax provisions remove caps on individuals’ and businesses’ ability to write off significant net operating losses, so the benefits go almost entirely to millionaires and billionaires who tend to have the largest balance sheets.)

“I don’t understand how they can come up with all of this financial aid for the homeless, for renters, for agriculture, for big business, for airplanes,” says Arceneaux, who is a black member of the Coalition of Small Rental Property Owners, a California-based advocacy group that mostly represents black and Latinx landlords. “And they’re forgetting about the small mom-and-pop people that have two units or four units and serve such a great need in the community.”

Terri Lacy, a 55-year-old former interior designer with an autoimmune deficiency, says she also feels abandoned. Local and federal government programs seem to be offering bailouts to every other group, while imposing rules that increase the burden on people like her.

When Lacy’s children moved out of the inexpensive condos she purchased to help them start their adult lives in California and Nevada, she converted them into rental units. One tenant paid three-fifths of his rent in April, nothing in May, then moved out mid-month. Lacy says the tenant broke his lease four months early, and left her with unpaid utility bills and holes in the wall. Now she has to rehabilitate the apartment and re-list it while taking care not to contract the very virus that created her rental woes. “Who wants to rent a unit in the middle of the pandemic?” she asks, rhetorically. “Nobody.”

Lacy says another of her tenants has paid partial rent since she was laid off from her Las Vegas waitressing job, but not enough to cover Lacy’s property taxes or homeowners association dues. Without full rent checks coming in, Lacy’s personal savings account has taken a hit. Even if she wanted to evict and re-list, she wouldn’t be able to until after June 30, when Nevada’s eviction moratorium expires.

“Here I am expected to absorb everybody else’s heartaches,” she says, “and nobody’s there to resolve my heartache.”

The mom-and-pop landlords who are able to draw on their own savings to make it through the eviction moratoriums imposed by their local governments may struggle to recoup their losses when it’s all over. It’s unlikely that renters who have struggled to pay rent over the last few months will have lump-sums of cash available when their rent is due, and the job market may continue to be sluggish for months or years. Eviction courts may also be backed up in major metropolitan areas once they finally re-open. And even court rulings that come down in landlords’ favor aren’t absolute: Evicted tenants sometimes get away with not paying their debts by changing bank accounts, ignoring collections agencies, working cash-only jobs, filing for bankruptcy, or fleeing the state.

Those who aren’t able to make ends meet without collecting rent checks are likely to sell, says Jenny Schuetz of the Brookings Metropolitan Policy Program. And that’s bad news for low-income renters. Individual property owners are likely to sell to families who will convert their rentals to personal housing, or to large investment groups—which, in turn, are much more likely to renovate, rebuild, and increase the rent. “I think we are going to see some smaller landlords who have to sell their buildings because they just can’t cover the costs,” Schuetz says. “We know from the Great Recession that the people who can afford to buy real estate in a down market are large-scale investors [who] aren’t necessarily likely to keep rents low in existing buildings.”

The large-scale real estate firms that are left tend to build luxury mega-compounds with amenities such as floor-to-ceiling windows, marble countertops and state-of-the-art fitness studios that cater mostly to upper-middle class and wealthy people: Of the 371,000 new rental units expected to hit the market this year, as much as 80% the supply be part of luxury developments, according to real-estate analytics firm RealPage.

But those luxury offerings were out of reach for millions of Americans even before the virus hit. In 2016, nearly half of all renter households were spending at least 30% of their incomes on rent, according to Harvard’s Joint Center for Housing Studies. Now, with more than 20 million people still out of work, the proportion of people struggling to pay each month is almost certainly higher—especially among lower-income earners, who have disproportionately been affected by recent layoffs. While only 13% of people in households who made over $100,000 experienced employment disruption in March, 39% of working individuals in households with annual incomes less than $40,000 were laid off or furloughed, according to the Federal Reserve.

As tens of thousands of protesters flood the streets demanding an end to police brutality and systemic racism in the wake of George Floyd’s killing by a Minneapolis police officer in late May, it’s important to note that punting the rent burden to small landlords during this recession could also have a disproportionate effect on people of color if individual landlords abandon their real estate investments in droves. Due in part to discriminatory federal housing policies legal through the 1960s that blocked many people of color from home ownership—and therefore from amassing wealth that could be passed down to the next generation—black and Hispanic households are about twice as likely as white households to rent rather than own their homes, according to Pew Research Center.

A swift and systematic loss of affordable rental units available on the market would especially hurt those with low incomes. Eviction moratoriums aren’t “going to affect people in middle class housing, particularly. They’re paying the rent, their rental units will still be there,” explains Michael Tanner, a senior fellow at the libertarian Cato Institute. “This is for people at the bottom end of the ladder who are going to find it harder to get affordable and habitable housing. They’re going to end up with expensive, lousy housing.”

Harvard Joint Center for Housing Studies research associate Whitney Airgood-Obrycki argues the best solution to the nuanced problem would be the distribution of government-funded direct rental assistance payments that benefit impacted families. “That’s going to protect renter households, and that’s also going to protect small landlords from economic hardship,” she says.

The Democrat-led House of Representatives has already passed a version of this suggestion in its omnibus HEROES Act, which calls for $100 billion in rental assistance to families with incomes below average earnings in their areas. But the measure is moribund in the Republican-led Senate. A version sponsored by Democratic Senator Sherrod Brown has just 37 co-sponsors, none of whom are Republicans.

In the absence of a Congressional compromise, Arceneaux is weighing her options. She’d love to continue to offer affordable rental units to her community, but she has her own bills to pay. In the meantime, real estate firms have already attempted to take advantage of her predicament. Almost daily, she finds notices in her mailbox from prospective buyers expressing interest in the property she’s owned and maintained for over 50 years.

“It’s almost like the vultures are standing around waiting for something to happen,” she says, “so they can pounce.”