Living with roommates can save you money — or help you afford a nicer place to live — but beware of the pitfalls of communal living. Here are a few tips for being a good roommate. Financial responsibilities Tackle the question of who pays for what quickly and early on. Will each person pay a… Read more »
Before signing the lease on your first apartment, don’t forget to read the fine print. That’s where you’ll find the details of your responsibilities as a tenant. Failing to read them could cost you big money as a first-time renter. At move-in Before moving in, the landlord or property manager will ask you to inspect… Read more »
In today’s world of prolific online hackers, we all need to exercise due diligence to protect our personal information. The last few years have seen several massive hacks, including the Equifax data breach announced in September 2017. What can you do to protect yourself from hackers? And if your information was taken from Equifax several… Read more »
The COVID-19 pandemic shut down most of the American economy, triggering massive job layoffs, furloughs and pay cuts. In March 2020, the federal government passed the Coronavirus Aid Relief and Economic Security (CARES) Act to provide financial assistance across many areas of American life. CARES grants COVID-19 retirement savings relief by relaxing some of the… Read more »
Most homeowners sell their houses to traditional buyers who plan to make the property their home. But investors also buy homes, and sometimes it may be advantageous to sell to one. What are the pros and cons of selling your home as investment property? Advantages to selling to an investor You may have purchased your… Read more »
For many Americans, owning investment real estate is a steady path to financial security. Renting out your investment property means positive cash flow, and you can use those rental payments to build your equity in the home. But along with these benefits comes responsibility for reporting income and expenses to the Internal Revenue Service. Let’s… Read more »
The Coronavirus Aid Relief and Economic Security Act (CARES), passed in March 2020, provides multifaceted financial relief to Americans during the pandemic. A section of the law provides COVID-19 student loan assistance to those who’ve borrowed for higher education. Here’s our guide to that section’s provisions. Cash grants The CARES Act created a $14 billion… Read more »
Most individual retirement accounts (IRAs) invest in traditional securities: stocks, bonds and mutual funds. If you are looking to diversify your investments, however, you may be interested in a lesser-known retirement account known as a self-directed IRA. This account allows you to hold investments other IRAs don’t, such as real estate. Here’s how investing in… Read more »
Many people have built financial security by investing in real estate, but finding start-up capital can be challenging. House hacking might be the shortest, simplest path to beginning successful real estate investment. What is house hacking? How can it help you? When house hacking is a good thing House hacking is a new term for… Read more »
If you’ve wanted to buy real estate as an investment, you might consider buying a house at a foreclosed property auction. You can get a great value, but the process can be risky and you need to be well prepared. Here’s what you should know. Why property is sold at auction Homes are generally sold… Read more »
For years you’ve enjoyed renting a vacation house with extended family or friends. One thought keeps recurring to all of you: What if we go in together to buy our own vacation home? It sounds heavenly! But before you take the plunge, consider these important questions. Who pays what? The first practical consideration when buying… Read more »
Will it improve your marketability and profit to furnish your rental property? The scenarios vary depending on how the property is used. Let’s see when it makes sense and when it doesn’t. Basics are expected No matter what your target market, it is commonplace for rental properties to come furnished with appliances such as a… Read more »
Choosing a ground-floor apartment or condo presents both advantages and challenges. Is ground-floor living right for you, or would you be happier higher up? Here’s what to consider in making your decision. Positives of a ground-floor apartment Convenience is the biggest attraction of a ground-floor apartment or condo. You don’t have to climb stairs or… Read more »
If you’re buying rental property with existing tenants, whether they occupy the entire space or only a basement or garage apartment, you are probably focused on the property’s income-generating potential. But you’re also taking on important legal obligations. Here’s what you need to know before you buy. The lease abides The most important thing to… Read more »
Perhaps you want to raise livestock and have your eye on some land in the country. Here’s how to know if that rural land is right for you. Start with experts on rural land Any real estate transaction is detailed, but land purchases have their own particulars. Get referrals to find an experienced real estate… Read more »
Rising on-campus housing costs and waiting lists for college dorms may mean you and your students are looking for a house or apartment rental. Before signing a lease, consider these questions and tips to ensure student housing is safe. Avoiding crime near student housing Look for housing in a space and a neighborhood where crime… Read more »
Apartment renters may find themselves needing to move before the term of their lease ends. Can you get a new renter to take over the lease? The answer depends on several factors. Read on for tips on how to sublet an apartment correctly. Read your lease agreement If you’re considering subletting your apartment to another… Read more »
Homeowners get paid handsomely for renting their homes to production companies for movie, television or commercial shoots. Can you cash in and make your house a movie location rental? A star is born! Television and movie production companies long ago steered away from building sets in favor of shooting in real homes and businesses in… Read more »
Working from home has many appeals that can add value to your life. But before buying a house for your home business, pause for a moment to think about the following legal and logistical aspects. Layout Is there a dedicated room or separate space for your business? Can you turn a room into an office… Read more »
Owners of business or investment property may want to sell and reinvest in a similar new property. An IRS rule allows you to accomplish this goal while deferring capital gains taxes on the property sale through a transaction known as a “1031 exchange.” Here’s how this complex but beneficial provision of the tax code works…. Read more »
