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Preparation and being in the right place at the right time is how he said he's built up his real-estate portfolio in Erie County, Pennsylvania, over the last four decades. Throughout his real-estate investing journey, many of Miller's deals came about through seller financing and being at the right place at the right time. Another financing strategy Miller employed to build his portfolio was using a hard-money lender. "Hard-money lending is probably something that's going to help you grow your portfolio faster than any other thing," Miller said. "Most of these programs range anywhere from a hundred percent financing all the way up to 105% financing, depending on the state."
Persons: Joel Miller, he's, Miller, Miller —, , Miller's, Jeff Welgan, Freddie Mac's, Welgan Organizations: Business, Facebook, Housing Act Locations: Erie County , Pennsylvania, New
When a company performs well and I interview its CEO on CNBC, I consider the stock's performance before fashioning my questions. Maybe the company had been poorly run and the guest is a new CEO who is turning it around. Once Wood picks a stock, that company can do no wrong, which is code for she can do no wrong. And take it from me, an old Mexican restaurant veteran, it travels better than any other restaurant chain. We should have just bought Dutch Bros. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
Persons: Albert Manifold, Rather, That's, Chris Gibson, Jensen Huang, Huang, Gibson, Cathie Wood, Wood, that's, Brinker, Chipotle, Chipotle execs, Taco Bell, isn't, Yum, McDonald's, Laxman Narasimhan, Howard Schultz, let's, Narasimhan, Joe, Locker, Jim Cramer's, Jim Cramer, Jim, Al Drago Organizations: CNBC, Pharmaceuticals, Nvidia, ARK, Gallup, Darden, Diageo, Brands, KFC, Taco, Taco Bell, Texas, Starbucks, Management, Bros, Dutch Bros, Jim Cramer's Charitable, Starbucks Corp, Health, Education, Labor, Bloomberg, Getty Locations: United States, U.S, Dublin, Ireland, Europe, Texas, Olive, East, Israel, Washington , DC
But it's not a decision one should make on whim; multiple factors can easily complicate the process, experts say. But in most cases, the U.S. buyer will need to open a bank account in the country they're buying real estate. 'Understand what your needs are'It will be important for you to "understand what your needs are," Boisson Aries said. "Buying these direct properties for that purpose is something that comes with far more risks than people realize," he said. And if you do decide to use the property for rental or commercial use, you may have additional tax burdens in that country, Boudreaux said.
Persons: Jude Boudreaux, it's, Boudreaux, Bojan Mujcin, Mujcin, Erin Boisson Aries, Douglas Elliman, Boisson Aries Organizations: Planning, Coldwell, CNBC, Sotheby's Locations: New Orleans, U.S, Barcelona, Costa Brava, Spain
A Plan to Break up Paramount
  + stars: | 2024-05-09 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +1 min
Splitting the Paramount empireEver since Sony Pictures Entertainment and Apollo Global Management expressed interest in buying Paramount Global, a big question has loomed over the potential $26 billion deal: What would they do with the company? The answer: Break it up, write The Times’s Ben Mullin and DealBook’s Lauren Hirsch. Sony and Apollo would keep Paramount Pictures. Paramount Pictures would become part of a joint venture controlled by Sony, with Apollo taking a minority stake in the new entity that it could eventually sell to Sony or to another buyer. The venture would also keep Paramount’s library of films and TV shows, as well as the rights to characters like the Teenage Mutant Ninja Turtles.
Persons: Ben Mullin, DealBook’s Lauren Hirsch, Organizations: Sony Pictures Entertainment, Apollo Global Management, Paramount Global, Sony, Apollo, Paramount Pictures, Paramount
Home prices were already high when Ellen Harper, a software architect living in Atlanta, started searching for a house in 2021. But she couldn’t have anticipated the quick surge in interest rates the following year and, even with a large down payment, the new math made her uneasy. It’s an amount she’ll be able to comfortably afford into retirement thanks, in large part, to a 2.49 percent mortgage rate. That’s less than half the current rate of 7.09 percent on 30-year-fixed loans, the most popular type of mortgage. She found her home through Roam, a start-up that went live in September that lists homes with assumable low-rate loans, and assists buyers through the process.
Persons: Ellen Harper, Harper, Ms, Locations: Atlanta, Fairburn
The percentage of "seriously underwater" mortgages rose in the first quarter. That's according to ATTOM, which notes the South has seen a bigger jump in seriously underwater mortgages. Though the percentage of seriously underwater mortgaged homes rose slightly nationwide, it remains lower than pre-pandemic levels. ATTOM said the South and Midwest regions account for nine out of the 10 states with the highest share of seriously underwater mortgages. Meanwhile, among 107 metropolitan areas with over 500,000 people, Baton Rouge, Louisiana, topped the list with 13.4% of all mortgages seriously underwater.
Persons: , ATTOM Organizations: Service, Oklahoma Locations: Midwest, West Virginia, Arkansas, Baton Rouge , Louisiana, New Orleans, Jackson , Mississippi, Rock , Arkansas, Syracuse , New York
Despite having a master's degree, she's concerned about affording rent upon retirement. AdvertisementCathy R., 63, has a master's degree and has worked all her life, though she's very worried for her future. However, even with a master's, she said she couldn't find anything higher-paying than clerical work, as she was constantly told she didn't have enough experience. "How are you supposed to get that experience when all you do is give me clerical work?" "I don't own anything except a car, I always have to rent, but I don't know how seniors on limited income are paying rent," Cathy said.
Persons: Cathy, ALICE, , Cathy R, she's, We've, ALICE Cathy, hadn't Organizations: Service, Alliance, Lifetime, Income, University of Minnesota, Department of Revenue Locations: Minnesota, Paul, Minneapolis, St
Former President Donald Trump attempted to ban the platform through an executive order in 2020, laying out the path to a potential ban. Prior to the passage of the law, TikTok spent more than $2 billion on an initiative called "Project Texas" to better protect U.S. user data from foreign influence. It's also different from past attempts to ban TikTok since the bill has bipartisan support, which can influence the courts, Hans said. Regardless of what happens in the circuit court, Hans said there's a real possibility the case ends up getting elevated to the U.S. Supreme Court. WATCH: Here's what to know about TikTok lawsuit
Persons: Shou Zi Chew, Online Harms, Evelyn Hockstein, Joe Biden, TikTok, Donald Trump, Gus Hurwitz, Hurwitz, ByteDance, Gautam Hans, Hans, It's, Hans said, there's, Shou Chew, Steven Mnuchin, CNBC's David Faber, Mnuchin Organizations: Energy, Commerce, Safeguard, Online, Capitol, Reuters, U.S, U.S ., Appeals, Circuit, Center for Technology, Innovation, University of Pennsylvania Carey Law, CNBC, Cornell Law School, Supreme Locations: Washington, Texas, U.S, TikTok, China
The rate of EV sales has been slowing for about a year, major automakers have pulled back on their previously lofty EV goals, and even electric car-giant Tesla is faltering. Demand for electric vehicles hasn't dried up completelyDemand for expensive EVs has softened significantly, but an opening exists in the affordable market. A new generation of electric car shoppers are looking for different options than their early-adopting counterparts. Essentially every major automotive company at this point has built its future around selling more electric vehicles. The real divide here is not between hybrids and EVs, but between legacy car companies and EV-only startups.
Persons: , it's, Power, It's, Elon Musk Organizations: Service, Business, EV, Companies, Ford, GM Locations: EVs
Rich baby boomers jumped in with all-cash offers, and sellers scored huge windfalls as weary buyers pushed prices to new heights. After all, people have to move for a wide variety of life reasons; mortgage rates be damned. "The further and further we get from the peak of the market," Peterson told me, "the harder it is to deny what's happened." Mortgage rates haven't fallen — in fact, they've gone up about 0.6 percentage points since the start of the year. "It can always be tricky telling somebody that they were just lucky because it makes you sound envious," Peterson told me.
Persons: Rich, Sellers, Eric Peterson, Peterson, Austin, Freddie, they've, Selma Hepp, Freddie Mac, Mike Simonsen, Redfin, towners, Libby Levinson, Katz, Price, Levinson, John Burns, they'll, Realtor.com, you'd Organizations: Freddie Mac, Reserve, Federal Housing Finance Agency, Altos Research, Sun, John, John Burns Research, Consulting Locations: Austin, Boise , Idaho, Denver
CNN —Diego Maradona’s Golden Ball trophy from the 1986 World Cup, which had gone missing in contested circumstances for decades, has reappeared and is anticipated to sell for millions of dollars at auction next month. Argentina went on to defeat West Germany 3-2 in the final and win the second of the country’s three World Cup titles. Maradona controls the ball during the 1986 World Cup final against West Germany. Colorsport/ShutterstockThe history of the Golden Ball trophy awarded to Maradona in Paris after the tournament is shrouded in mystery. Maradona was unquestionably a household name before the 1986 World Cup, but after leading Argentina to the title, he became a global superstar.
Persons: CNN — Diego Maradona’s, ” François Thierry, , ” Maradona, God, , Maradona, Thierry, there’s, didn’t, Aguttes, Asif Kapadia’s Organizations: CNN, England, CNN Sport, West, Maradona, Italian, Napoli, Argentine Locations: Paris, Argentina, Argentine, West Germany, Buenos Aires
No, seriously. Where are the TikTok buyers?
  + stars: | 2024-05-08 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +2 min
Former Google CEO Eric Schmidt has decided against buying TikTok. That leaves a really tiny list of people who say they want to buy TikTok. AdvertisementWho's going to buy TikTok? [Crickets]Yes, if you Google "potential TikTok buyers" you'll find a bunch of stories — Business Insider has written one, too — speculating about names. They list Mnuchin as well as Shark Tank host Kevin O'Leary, who also likes to go on TV and talk about buying TikTok.
Persons: Eric Schmidt, , Steve Mnuchin, ByteDance, Kevin O'Leary, Bobby Kotick, OpenAI's Sam Altman, we've, Trump Organizations: Google, Service, Treasury, TV, Street Journal, Activision, Oracle, Walmart, Microsoft, Big Tech, McKinsey, TikTok
A 12th-century French castle, Château d'Armainvilliers, is being auctioned for around $454 million. The castle was previously owned by King Hassan II of Morocco. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA 12th-century castle that once belonged to a Rothschild is being auctioned for a staggering €425 million, or around $454 million. It was once owned by Edmond de Rothschild, before being sold to King Hassan II of Morocco, a spokesperson for Meuwissen told Business Insider.
Persons: Château, King Hassan II, , Rothschild, Ignace Meuwissen, d'Armainvilliers, Edmond de Rothschild, Meuwissen Organizations: Service, Meuwissen, Business Locations: Morocco, Paris
Disney Why we own it: We value Disney for its best-in-class experiential entertainment Parks business, which has proven to have immense pricing power. In the second quarter, the combined business — Disney+, India's Disney+ Hotstar, Hulu and ESPN+ — saw losses of $18 million, far better than the $659 million loss in the year-ago period. DTC profitability benefited from Disney+ core subscriber growth, higher retail subscription prices, increased advertising revenue on the back of higher impressions, and lower distribution costs. Clearly, Disney still has a big opportunity in sports as they execute on their DTC streaming strategy for ESPN. The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022.
Persons: , Nelson Peltz, wouldn't, Hugh Johnston, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Club, Revenue, LSEG, Disney, Parks, ESPN, Comcast, Netflix, Warner Bros Discovery, Paramount Global, CNBC, seasonality, Entertainment, Hulu, Hulu Live, Sports ESPN, College Football, National Football League, Walt Disney World, Disney Cruise, Disneyland, Hong Kong, Getty Locations: Hulu, India, Florida, California, Hong, Los Angeles
An ultra-rare Magic: The Gathering card just sold for a record $3 million. The new record exceeds Post Malone's $2 million purchase of a one-of-a-kind Magic: The Gathering card last year. AdvertisementAn ultra-rare Magic: The Gathering card just shattered records and sold for $3 million, according to CGC Cards. AdvertisementThe previous record sale for a Magic: The Gathering card took place last year when rapper Post Malone acquired the one-of-a-kind "One Ring" card for $2 million. The buyer of the $3 million Black Lotus card remains unknown.
Persons: , Adam Cai, Post Malone, Tolkien's, Malone, Christopher Rush Organizations: Service, Post
He ended the relationship by text message and I never heard from him again. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe text message left me in a heap of tears in a backpacker hostel in Adelaide, Australia, in 2003. I was still reeling when, half an hour later, he'd taken his backpack and sent that devastating text message. AdvertisementWhen I left, I resisted the urge to send a text re-contextualizing his "Thanks for the good times" message.
Persons: , I'm, We'd, he'd, we'd, You've, doesn't Organizations: Service, Facebook Locations: Adelaide, Australia, Sydney, Hyde Park, Western Australia, Cairns, Europe, Spain
What exactly goes into closing costs?
  + stars: | 2024-05-04 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +6 min
But there is an often-overlooked expense when buying a home: closing costs. At the same time, the Biden administration plans to take aim at so-called “junk fees” hidden in closing costs. New York, Delaware and Washington, DC, have the highest average closing costs, according to Bankrate; while Missouri, Indiana and North Dakota have the lowest. Lowering closing costs on your ownThere is one relatively simple way to lower your overall closing costs: shop around. “When you compare those offers, examine not just the rate itself but also the closing costs.
Persons: homebuyers, , Biden, ” Jeff Ostrowski, , ” Ostrowski, you’re, homebuyers haven’t, Brian Connolly, it’s, “ It’s, ” Connolly, Connolly, , Freddie Mac, ” Genaro Villa Organizations: CNN, Consumer Financial, National Association of Realtors, realtors, University of Michigan, NAR, homebuyers Locations: New York , Delaware, Washington, Missouri, Indiana, North Dakota, Bankrate, AnnualCreditReport.com
While high mortgage rates didn't bring prices down, steep insurance costs could put a lid on further appreciation. But there's an under-the-radar factor that could soon pull down home prices nationally, real estate experts told Business Insider — soaring home insurance costs. AdvertisementThe insurance costs usually come as a surprise to home buyers in those areas, Fairweather added. To Fairweather, it's more precise to say the rising insurance will make home values grow more slowly than they would have, as the robust demand still characterizes the current market. We take into account prices and mortgage rates and now rising insurance costs, but there's still people wanting to buy homes," she said.
Persons: , Zillow, FRED, Daryl Fairweather, Fairweather, Danielle Hale, Hale, Jesse Keenan, Keenan, it's, homeownership, there's Organizations: Service, Business, Tulane University Locations: Florida, Texas, West, Louisiana
Gold bracelets at a gold jewelry store in the Zhejiang Province of China. Thousands of people in China have been duped into forking out money on "fake gold" — inferior or artificial gold — after trying to purchase so-called "999 gold" online, according to the government. The purest form of gold is commonly referred to as 999 gold, because it has gold content of 99.9%. "Fake gold is becoming a major problem in China as more Chinese are looking to put their savings into gold," said China Market Research Group's Managing Director Shaun Rein. Fake gold gets darker or reveals a greenish color when placed under flame, while pure gold turns brighter on exposure to heat.
Persons: Shaun Rein, Nikos Kavalis, Rein, Taobao, Pinduoduo Organizations: Visual China, Getty, Research, India, World Gold, Metals, ChinaFotoPress Locations: Zhejiang Province, China, scammers, Nantong
Maddy Lane, a Gen Z TikToker, shared what it's like in a recent video, showing the detritus of her latest haul all over her bed. A survey of 1,000 people from January by the digital analytics platform Quantum Metric found that 64% of Gen Z respondents were buying more than they did last year. Contradictory to Gen Z beliefsCheap clothing hauls do not sit well with the much-discussed Gen Z passion for environmentalism. AdvertisementGaby Mendes, a Zoomer and founder of Talk Twenties, a media and events company for Gen Z, told BI she tries to avoid fast fashion but has her lapses. Gen Z was dubbed the "Depop generation" by Vogue Business, and makes up 90% of the app's user base.
Persons: , Maddy Lane, Lane, Zers, ThredUp, Gen, TikTok, pang, Melanie Parncutt, Parncutt, Gaby Mendes, Gen Z, JADE GAO, Siena Barry, Taylor, There's Organizations: Service, Business, Bryant University, Otter Public Relations, Vogue Business, Barry Locations: cardigan
Spokespeople for Paramount, Redstone's National Amusements, the special committee and Skydance declined to comment. Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter. Paramount Global shares jumped more than 12% on the news that Sony and Apollo submitted a letter formalizing its interest, earlier reported by The New York Times and Wall Street Journal. A $26 billion offer for Paramount Global values the company higher than the company's current $22 billion enterprise value. Redstone could also argue she's more comfortable with pushing forward at Paramount Global without a sale.
Persons: Skydance, hasn't, David Ellison's Skydance, Shari Redstone, It's, Redstone's, Bob Bakish Organizations: Paramount, Sony, Apollo, Skydance, RedBird Capital, KKR, Sony Pictures, Apollo Global Management, Paramount Global, The New York Times, Wall Street Journal, Hollywood, Matrix Asset Advisors, Aspen Sky Trust, Redstone Locations: Apollo
This summer, the wholesale club is swinging big with $1,000 or more off EVs from four brands. There is one catch though: the deal is only available to people who were Costco members as of April 30. AdvertisementOne of the under-appreciated perks of a Costco membership is big savings on new cars. This summer, Costco is swinging big with $1,000 or more off EVs from four brands. From now until July 31, Costco members can take $1,000 off the price of a Cadillac Lyriq, Chevy Equinox EV, Chevy Blazer EV, Volvo C40 Recharge, or Volvo XC40 Recharge.
Persons: Organizations: Costco, Service, haggling, EV, Blazer EV, Volvo
This was achieved by allowing first-time buyers to purchase a home with a smaller down payment — as low as 3.5%. The program is still around, and it's often a great way for real-estate investors to get started. Advertisement3 ways to make the most of government loan programsWelgan also shared two strategies that real-estate investors can use to maximize the leverage offered through government loans. Buyers can now purchase up to a four-unit property with a down payment of as little as 5%. "That's been a game changer for real-estate investors," Welgan said.
Persons: , Jeff Welgan, Fannie Mae, Buyers, Welgan, Fannie Mae's, That's, ADUs, Dave Meyer, Fannie, I've Organizations: Service, Act, Business, Federal National Mortgage Association, Mortgage, Urban Locations: Los Angeles County , California, Michigan, California
FTX's former head of Europe bought the most expensive Titanic relic ever auctioned. The gold watch sold for $1.5 million, and belonged to John Jacob Astor IV. Gruhn is a German crypto law veteran who formerly served as the head of FTX Europe. Gruhn is now readying the launch of a new crypto trading venue called Perpetuals, and said he plans to restart FTX Europe under a different name. "From all the facts it was clear that FTX Europe did not and couldn't know about the fraud from SBF," he said.
Persons: John Jacob Astor IV, Gruhn, , Patrick Gruhn, Henry Aldridge, Astor, Andrew Aldridge, wasn't, Sam Bankman, Fried Organizations: Service, Titanic, titans, Henry Aldridge & Son Locations: Europe, German, America, United States, Gruhn
The Miami Grand Prix, a unique spectacle in Formula 1, is heading into its third year. Heading into its third year, Formula 1's Miami Grand Prix has made a name for itself as a unique spectacle in the sport. But the logistics' massive scope is just one aspect that sets the Miami Grand Prix apart. The marina at the F1 Miami Grand Prix in 2022. Local flavorThe Miami Grand Prix aims to capture the city's flair.
Persons: , Todd Boyan, Boyan, Tyler, Ricardo Arduengo, Guenther Steiner, Steiner, Mark PETERSON, Haas, We've, It'll Organizations: Miami Grand Prix, Service, Miami, Hard, Miami Dolphins —, Miami Dolphins, Miami Open, Prix, Tyler Epp, Miami Grand, Epp, . Miami, Monaco, Logistics, Haas, Netflix, Miami . F1 Academy, F1 Academy, Beach Club, cabanas, Art, Paddock Club Locations: Jeddah, Saudi Arabia, Miami, South Beach, Art Basel
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