Category: News

4 Alternative Loan Types You Didn’t Know Existed

Posted by on May 16, 2022 in News

Did you know that other loan types are available different from the traditional bank loan? Here are four alternative loan types that you may not have known existed. Each of these loans has its unique benefits, so be sure to research before deciding which one is right for you.

Self Employed Loans

A self-employed loan is a type of financing specifically designed for business owners who are not another company’s employees. There are several advantages of the self-employed loan. First, self-employed loans can be used for various purposes, such as starting a new business, expanding an existing business, or even covering personal expenses. This flexibility can be beneficial for business owners who may not have access to traditional forms of financing.

Additionally, self-employed loans typically have lower interest rates than other types of loans, making them more affordable in the long run. Finally, self-employed loans can often be approved with bad credit, significantly benefiting business owners who have struggled to obtain financing in the past. Overall, self-employed loans can be an excellent option for business owners seeking funding flexible with competitive rates.

Personal Loans

A personal loan is an unsecured loan that can be used for any purpose, such as debt consolidation or home improvement. Personal loans are typically issued by banks, credit unions, or online lenders. One of the main benefits of personal loans is that they can be used for almost anything.

Another benefit of personal loans is that they usually have fixed interest rates, which means that your monthly payments will remain the same for the life of the loan. This can make budgeting and financial planning much more accessible than a variable-rate loan. Additionally, personal loans typically have shorter repayment terms than other loans so that you can get out of debt faster. Finally, many private lenders offer flexible repayment options, such as making extra payments or paying off your loan early without penalty.

Auto Title Loans

An auto title loan is a short-term, high-interest loan in which the borrower uses their car title as collateral. This type of loan can be hazardous, as the borrower could lose their car if they default on the loan. However, auto title loans can be helpful for borrowers who need cash quickly and have no other options.

One of the main benefits of an auto title loan is that it can be approved quickly, often within 24 hours. Additionally, no credit checks are required for this type of loan, so even borrowers with bad credit can qualify. Finally, auto title loans typically have much lower interest rates than payday loans or other high-interest loans.

Payday Loans

A payday loan is a short-term, high-interest loan that must be repaid on or before the borrower’s next payday. This type of loan can be hazardous, as the borrower could end up in a cycle of debt if they cannot repay the loan on time. However, payday loans can be helpful for borrowers who need cash quickly and have no other options.

While payday loans can be helpful in some situations, it is essential to remember that they should only be used as a last resort. If you consider taking out a payday loan, make sure you understand all of the terms and conditions before signing any paperwork. Additionally, find a lender who offers flexible repayment terms and a reasonable interest rate. Payday loans can be helpful in a pinch, but they can also be very dangerous. Use them wisely.

Conclusion

There are several different loan types available to borrowers. Self-employed, personal, auto title and payday loans are all viable options for those needing financing. Each type of loan has its benefits and risks, so it is essential to consider your options before choosing one carefully. With a little bit of research, you should be able to find the perfect loan type for your unique situation.

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6 Tips For Purchasing Your First Home as an Entrepreneur

Posted by on April 29, 2020 in News

Pedram Zohrevand

Being an entrepreneur gives you the opportunity to make as much money as you want. However, it can also be quite unstable at times. When things are going well, you may want to take life to the next level and buy a home for yourself. However, you need to keep in mind that you need a house that will suit both the highs and lows of your career. Here are 6 tips for purchasing your first home as an entrepreneur.

1. Save Up For a Down Payment

You want to be able to put down a hefty down payment for your new home. A large down payment will make it so that you don’t have to pay as much in monthly payments and interest. Plus, many companies won’t let you buy a house unless you have a certain amount of money for a down payment. Take the time and save up until you actually have the money.

2. Work on Your Credit

One of the most important things about buying a house is having good credit. Good credit means you can get a house with a lower interest rate. This is one of the largest purchases you’ll ever make in your life, so you need to get a good interest rate. A larger interest rate will mean you end up paying significantly more for the house in the long run. You will be able to spend the extra money on furniture or other things for the house.

3. Save For Repairs

When you own a house, you are responsible for everything that happens. You can’t simply call a landlord to get things fixed like when you lived in an apartment. If the toilet breaks down, it’s your responsibility. If the roof starts to leak, it’s your responsibility. These repairs can be extremely expensive. They also happen without any warning. Some people empty their bank account to pay for the down payment, but you need to remember to have money in your account for repairs when they inevitably happen. Otherwise, you may end up living in a broken home.

4. Buy a House in Your Budget

When business is going well, you may be feeling on the top of the world. that doesn’t mean you should buy a home as if you’re always going to be doing so well. You need to plan for the more difficult times when you might not have the same amount of money coming in. Look at your profits in the last couple of years and plan for when business was at the lowest. It’s better to be in a house you can afford and save up toward an even bigger one in the future than buy a house you can’t afford. In this interview with Pedram Zohrevand, he reminds people to develop healthy habits. This includes making healthy financial habits.

5. Use a Realtor

You should understand that you hire professions for a reason. You may be an intelligent person, but you do not know all of the ins and outs of the real estate market. Hire someone with the knowledge and experience in this area. You may think it’s best to save money and handle the purchase yourself, but you can actually save money when a professional helps you throughout the process.

6. Consider the Future

As a business owner, you understand that things change quickly. You have to think about what things might happen for you in the future so you pick a house that can accommodate thee upcoming changes. For example, do you plan on having any more kids in the future? Does the house have room for the kids? Do you plan on keeping your business headquarters in the same location? houses are a commitment, and you want to buy a house that fits your needs for years to come, so consider everything. You should also put yourself in a position to make changes when necessary.

Buying a house is one of the most exciting times of your life. You want to do it in the best way. Follow these tips to ensure that you don’t take on too much with your purchase. Pedram Zohrevand likes to look at life with the glass half full, but you also want to be smart with large purchases

7 Smart Things to Do With the Money You Make From Airbnb

Posted by on February 19, 2020 in News

Jason Vanclef

Airbnb is one of the most popular platforms for side hustlers hoping to generate wealth with their spare rooms. Whether you’re renting out a room in your home or subletting your entire apartment, Airbnb is one of the best places to generate a little money on the side. If you want to make the most of your Airbnb venture, make sure you make your hard-earned money work for you. Jason Vanclef shares the best ideas on how to invest the money you make renting with Airbnb:

1. The Stock Market

One of the best ways to transform your Airbnb earnings is to invest in the stock market. Buying stock gives you partial ownership of whichever company you’re buying into. As the company profits, you’ll receive a portion of their earnings by way of dividends based on your shares of stock.

As the company gains value over time, so will the price of your new shares. Thus, whatever percentage of your Airbnb earnings that you invested into the stock will transform into a highly profitable share you can then sell for a profit.

2. Mutual Funds

Though you can spend your Airbnb income on shares, it also pays to invest in mutual funds. By investing in mutual funds, you’ll purchase multiple stocks in a single purchase. However, the stocks in a mutual fund are managed and chosen by mutual fund managers.

If you’re thinking about investing in mutual funds, be sure to research the details about additional fees. Oftentimes, mutual fund managers will charge a fee to invest.

3. Investment Bonds

In addition to investing in stocks, you can choose to grow your money by purchasing investment bonds. By purchasing a bond, you essentially agree to loan your money to the government or a company. This loan collects interest over time that will eventually be paid to you at the end of the bond’s lifecycle. Bonds are often viewed as safer investments than stock, though the returns are much lower.

4. Savings Accounts

One of the easiest ways to grow your Airbnb earnings is with a savings account. Instead of letting your money collect dust in a checking account, putting your AirBnb money into a savings account will earn you interest over time. However, the returns on a savings account are rather low. Experts like Jason Vanclef recommend letting your earnings collect interest while you decide what other investments to buy into in the future.

5. Physical Commodities

Physical commodities refer to investments like silver or gold. This conventional method of investing is intended to safeguard against difficult economic times or other emergencies. If you want to invest in physical commodities, consider purchasing a few pieces of silver or gold now that you can sell later for quick cash.

6. Real Estate

Many Airbnb hosts invest the money they earn” from renting out their homes into other real estate ventures. Whether you fix or flip homes or you purchase a multi-family building, real estate is another lucrative way to use your Airbnb earnings to make more money. Many Airbnb hosts even invest in new properties that they can then rent out on the platform.

7. Consult a Financial Advisor

It’s clear that there are a variety of ways to build wealth using your money from Airbnb as a starting point. Make sure you’re choosing the right investment opportunities by relying on a professional’s advice. A financial advisor will be able to suggest investment options that are the most advantageous for you and your money.

Start building wealth with the help of Airbnb. Let this guide inspire you to learn more about investment opportunities.

Is My Roof Too Shaded For Solar Panels

Posted by on August 8, 2019 in News

Many people here in Tampa, Florida are considering solar panels for energy generation. It just makes sense that, in a sunny climate where winter temperatures are often around 70 degrees Fahrenheit, one might be able to get quite a bit of energy generation from solar panels. Consulting a roofing company Tampa and other sources, we found that the answer to solar panel feasibility by the site has changed over the last several years since the technology behind solar panels continues to improve.

Traditional Solar Panels

Most of the solar panels in production today don’t do well in shade. Conversely, solar panels do much better with cloudy conditions than they did in the past. It is quite amazing the amount of energy one can produce on a cloudy day from the current crop of solar panels. At the least, Clean Technica states that solar panels produce 10 to 25 percent of the panel’s rating on a cloudy day. This author has solar panels for RVing that produce far more than 25 percent of the panel rating on cloudy days.

Greentumble is reporting that new solar panels made with solar cells called “super black” will make the differential between your solar energy harvest on sunny days versus cloudy days almost non-existent. Those new panels will be out in the next few years.

Sadly, shading is a very different animal. Up until recently, most solar panels suffered from shading by drastic reductions in energy output. The reason is in how many solar panels are wired together. If just a few portions of a panel are shaded, most panels will no longer output much of any energy. It is similar to the Christmas light phenomena, where one light out in the string renders the entire string of lights useless.

New Technology Helps Solve Shading Energy Loss

Bypass Diodes: Since many people have trees, gables, chimneys and other houses that may cover their solar panels in shade at times, the solar industry has responded with a new type of panel designed to maintain a higher level of output if a portion of the panel is in shade. These new panels use bypass diodes between the solar cells in order to bypass the cells that are in shading, allowing the energy from the cells that are in the sun to still output from the panel. This new technology also eliminates the problem that Renew Magazine reported on in which some of the older styles of panels actually degrade over time from repeatedly having to deal with partial shading. Older style panels in partial shade tend to overwork the solar cells that are in the sun.

Micro-Inverters: Another new technology in the newer crop of solar panels that helps glean more energy in partial shading conditions is a micro-inverter. This is a device that is installed in each solar panel and allows each panel to be its own energy producer, irrespective of other panels that might be in partial or complete shade. The idea with both of these two technologies is to get the full output of the solar cells that are in sun out through the panels without straining the system.

Examine Your Roof

Irrespective of new technology, if you have a roof that is in shade most of the year, you will need to either find another spot for the panels – like in your yard, on your garage or over the carport. These new anti-shading technologies rely upon times during the day when the panels are at least in partial sun. You will need to determine how much sun your roof is receiving and what times of the day and times of the year that you have sun versus shade in order to know if solar is cost-effective for your situation.

For many homeowners, it is not feasible to examine your roof for shade or sun every two hours throughout the year. Instead, your roofing company Tampa or solar panel retailer will likely provide you analysis of sun versus shading at your site. You can also consult the shading analysis tools found on the PV Resources website.

If you have partial shading on your roof, don’t despair. New technology is making solar panels work much more efficiently in partial shading. A site analysis is the only proper means of determining your solar panel placement options

CreditUpdates.com New Partnership to Help Homeowners Prepare

Posted by on July 13, 2016 in News, Real Estate

Purchasing a new home can be stressful and emotional for everyone involved. There are many steps in the real estate journey from finding a trusted realtor to researching neighborhoods. Before beginning the journey, prospective homeowners should gather their financials. A new partnership between CreditUpdates.com and ScoreApprove will help streamline this preliminary step in the home-buying process. Using the ScoreApprove web application, agents are able to invite their prospective homeowners to a free Home Affordability Assessment. Upon completion of the assessment, a Home Affordability Certificate is given with an estimate of the customer’s home-financing capabilities and TransUnion credit score provided by CreditUpdates.com. This new partnership offers some relief in an often long and strenuous process.

Michael John Mally Gallery

Posted by on April 25, 2016 in News, Real Estate

Michael Mally ponders life and contemplates the world along the ocean.

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Short Sell?

Posted by on May 15, 2015 in Land, Land For Sale, News, Real Estate

untitled (15) untitled (14)Should you short sell your home?  That is a personal question.  It depends on your situation.  Did you over borrow and plan to resale for a profit? If so a short sale may be your only recourse.  If you just fell on hard times and your home I getting foreclosed I would work with the bank to keep the home.  If you have otherwise good credit then you may be able to refinance at a lower interest rate and lower the payment into something you can afford.  The best way to go is a personal decision and you need to know your options. Hope you can have a Home For Life.

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Financial Health for the 22nd Century

Posted by on March 16, 2015 in News

What is more important than your health? Well that is an important question and an easy one also. Nothing! Nothing is more important than your health, because with your health you cannot do anything otherwise. Here’s another question. How important is your financial stability, or should I say, ” financial health”? Well it is not as important as you physical health, but if you plan on having a house for your family to grow, or a business that pays for your house so that your family can grow than it pretty important. Funny how your finances are not as important as your health, but your finances are extremely important for your families health.

It would be safe to say that red payments improves the health of your family, since by providing you with capital they are assisting you in getting your family the boost they need. Succeeding is always better and more likely with great moral and lets not leave out financial support. You have to support your child through college, well most of the time, because it shows that you believe in them and their abilities. Though red payments is not your father or mother, they believe in your business your future, and your family.

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Should You Offer Your House With Out A Freedom Mentor Apprentice Program?

Posted by on January 28, 2015 in Land, News

Before enumerating the prime mistakes that you should steer very clear Freedom Mentor Apprentice Program of when getting a residence allow us very first have a fast preview of the elements that you do want to take into consideration. Probably the most essential query that you require to request by yourself is: when is the very best time for me to individually buy a home? By natural means, if you are already settling down with a family members, buying a house is a have to.

A very good broker need to present you with far more than the desire charge the lender needs to cost you. The broker must obviously lay out all of the terms of the loan. This refers to the size of the bank loan; does the desire price alter at all during the phrase of the loan? What are all the costs linked in receiving the home loan. Does the monthly payment cover curiosity and principal or just desire? These are extremely important questions that you want to inquire.

Cut two equivalent sheets of cardboard so that placed side-to-facet they would be the size of a normal desk recreation this sort of as Monopoly or Parcheesi. These two halves will be connected by indicates of high quality Freedom Mentor Apprentice Program adaptable tape on the bottom so that they create a foldable gameboard. If you do not treatment if the gameboard does not fold, matters become nevertheless less difficult if you simply cut one piece of cardboard to precisely match the measurement of a common gaming board.

Let the photos talk for Freedom Mentor Apprentice Program you a skilled realtor and the listing house you’re promoting. Utilizing these crucial guidelines throughout picture capturing facilitates buyers far better envisioning them selves and their family members dwelling in the property.

As mentioned above, your very first line of defense in the purchase of Freedom Mentor Apprentice Program is an excellent Real estate agent and a great lawyer acquainted with the mortgage loan financial institution market. I guarantee you that we know who the predators are in your location and will make sure you avoid them.

Before picking a bad credit mortgage broker, shop around there too. Just don’t decide the initial one in the telephone e-book or the first piece of junk mail that demonstrates up in your mailbox.

Even if you obtain an provide to buy a property with zero downpayment, you have to consider two times prior to grabbing the prospect. Authorities say that a 5 to 20%twenty five down on your home is a very good ample deal.

Positive men and women just take lemons and do issues with them. Negative men and women enable their lemon to rot and mildew sets in. They appear to their future as hopeless and frustrated.

Living at property is a tense approach, and can occasionally be extremely tough to handle for any individual. The great information is that you can promote your property rapidly, so that such restoration. Nonetheless, in a hurry to sell the house alone is an extended and intricate procedure.

Tampa true estate owned properties can be found at a discounted value, but the financial savings witnessed can fluctuate extensively. Banking institutions have specialists who advise on the market place benefit and give a great thought of the house price, so when a residence is 1st outlined the savings could not be a lot. Following a home has been on the market place for an extended period the value will be discounted a lot further. Endurance can make purchasing these residences extremely cost-effective. Actual estate owned houses in Tampa Bay, FL can make property dreams appear true at a price tag that is astronomically lower at instances. Several sites supply these listings, and they appear in all shapes, designs, and dimensions.