DIRS.INFO The most relevant business & tech news

☆ I was a consultant at McKinsey. Here's the frustrating way they pushed me out.
▼ + stars: | 2024-04-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

AdvertisementThis is an as-told-to conversation with Ezra Gershanok, a former Business Analyst at McKinsey & Company and the cofounder of sublet startup Ohana. I was hired straight out of college as a Business Analyst, an entry-level consultant role at the firm. Related storiesFor me, the pace of the work started to slow down in the second half of 2021 and into 2022. Several jobs at the firm started to be seen as redundant. So, it's possible to get positive feedback from the clients you're working with and your direct manager, even when the higher-ups are trying to push you out.

Persons: Ezra Gershanok, Gershanok, Zillow, —, McKinsey doesn't, I'd, Ohana, We've, Spencer Rascoff, Surabhi Gupta, they're, Lakshmi Organizations: McKinsey & Company, Post, McKinsey, Service, Apple, Engineering Locations: Seattle, sublease, NYC, Lakshmi Varanasi, lvaranasi@businessinsider.com

☆ How one millennial quit a corporate job, became self-employed, and set himself up financially to start a small business
▼ + stars: | 2024-04-03 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

In 2017, Paul Millerd left his high-paying consulting job to work for himself. This article is part of "Unlocking Small Business Success," a series providing micro businesses with a road map to growth. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In 2017, Paul Millerd walked away from a six-figure consulting salary. Since leaving corporate America in 2017, his revenue streams have included freelance consulting, coaching, online course sales, book sales, and affiliate marketing.

Persons: Paul Millerd, —, Millerd, didn't, Millerd didn't, spender, that's, Angie, doesn't Organizations: Service, America Locations: America, Taiwan, New York, Boston, New York City

☆ Against All Odds, New York’s Artist Buildings Have Survived
▼ + stars: | 2024-02-26 | by ( M.H. Miller | Miranda Barnes | ) www.nytimes.com time to read: +4 min

The expansion of government-subsidized housing loans meant that cheap space was also easy to come by, as New York had a then-ample stock of residential and industrial buildings. But the city has always romanticized artist-dominated buildings, the kinds of communal spaces in which every unit might be home to an artist’s studio (and sometimes, unofficially, their residences, too). In an almost unheard-of feat of perseverance, the same artist, Don Dudley, 93, has been working out of this loft since 1971. So artists have had to create a kind of whisper network to withstand New York’s unimpeachable forward march, which the art market has, ironically, enabled. Most of them are temporary fixes before an artist — who’s grown out, or been priced out, of their space — has to move on.

Persons: Bill, Don Dudley, What’s, it’s, — who’s Organizations: Veterans, Pop Art, Brooklyn Army, Financial, Artists Locations: Europe, Paris, New York, York, Sunset, Williamsburg , Brooklyn, Ridgewood , Queens, TriBeCa, ”, Manhattan, Brooklyn, Queens

It would be nice to have a larger apartment, but a larger place would come at a much greater cost. I went from paying a couple hundred dollars a month in rent to around $1,500 to live in the living room of a one-bedroom apartment in Manhattan. We live in a small apartment that’s in our budgetMy husband and I have lived in the same one-bedroom apartment in Williamsburg, Brooklyn since 2019. The apartment is under 600 square feet, and the rent is around $3,400 a month. We’d only be able to afford that rent if we cut back in other areas.

Persons: —, Zumper, nannies, I’ve, We’ve, We’ll Organizations: Service, Day Care, New Locations: New York City, Florida, Manhattan, Williamsburg , Brooklyn, It’s, New York

☆ A Chocolate Fondue to Remember
▼ + stars: | 2024-01-31 | by ( Ligaya Mishan | ) www.nytimes.com time to read: 1 min

The summer after college, I worked briefly as a shoe model. By briefly, I mean that I was fired after one day. I had to crawl over them when I wanted to lie down, which was most of the time. I sat in a sun-soaked conference room with a conqueror’s view of the city. Across the table was another, better candidate for the job, a woman with gold-lidded eyes and mouth ajar.

Locations: Manhattan

☆ WeWork’s Bankruptcy Tests Claims of a Co-Working Revolution
▼ + stars: | 2023-11-09 | by ( Peter Eavis | More About Peter Eavis | ) www.nytimes.com time to read: +1 min

But the company never created a sustainable business or changed how most people worked. Flexible office space accounts for less than 2 percent of all office space in the 20 largest U.S. markets, according to Cushman & Wakefield, close to its share before the pandemic. WeWork filed for bankruptcy protection this week in an effort to quickly slim down its portfolio of office spaces. Many employers are paring back their office space because workers aren’t going in five days a week after growing accustomed to working remotely or on a hybrid schedule. WeWork’s bankruptcy will only make the situation worse by leaving landlords with more space to fill.

Persons: WeWork, aren’t Organizations: Cushman & Locations: Cushman & Wakefield

☆ What went wrong with WeWork – and what's going to happen to your WeWork office
▼ + stars: | 2023-11-07 | by ( Pete Syme | ) www.businessinsider.com time to read: +7 min

WeWork filed for Chapter 11 bankruptcy protection on Monday. AdvertisementAdvertisementWeWork, the company synonymous with coworking that was once valued at $47 billion, filed for Chapter 11 bankruptcy on Monday night. The main thing to note about WeWork's bankruptcy filing is it's Chapter 11, rather than Chapter 7 which would involve liquidation. AdvertisementAdvertisement"They need to raise capital, and they need to rightsize their real estate portfolio — negotiating more favorable lease terms, rejecting lease terms," said Sarah Foss, global head of legal at Debtwire. It will depend on how profitable each lease is, and what renegotiating terms WeWork is offered by landlords.

Persons: WeWork, —, Adam Neumann, Tim Hynes, David Tolley, Sarah Foss, Foss, Hynes, X0GgcZMUHO, Chris Person, it's, There's, there's Organizations: Service, Colliers Locations: Manhattan

☆ WeWork files for bankruptcy in federal court
▼ + stars: | 2023-11-06 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

New York CNN —WeWork, the beleaguered coworking startup, has filed for bankruptcy protections in federal court. “Now is the time for us to pull the future forward by aggressively addressing our legacy leases and dramatically improving our balance sheet,” said David Tolley, WeWork CEO, in a news release. WeWork eventually went public roughly two years later at a much-reduced valuation of some $9 billion. In May, WeWork announced a leadership shakeup with the departure of its chairman and CEO Sandeep Mathrani, a real estate executive who investors hoped would save the company. David Tolley, a WeWork board member, stepped up as interim chief executive and was officially named CEO in October.

Persons: New York CNN — WeWork, ”, David Tolley, WeWork, Adam Neumann, Neumann, Sandeep Mathrani Organizations: New, New York CNN Locations: New York

☆ How Henry Taylor Transformed the Way We Look at Ourselves
▼ + stars: | 2023-10-19 | by ( M.H. Miller | ) www.nytimes.com time to read: +111 min

HENRY TAYLOR How the figurative painter made portraiture the dominant mode of art in our era — and changed the way America sees itself. It was Henry Taylor doing Henry Taylor, like a pop star in his Vegas residency phase. A few seasons earlier, for Miu Miu’s spring 2022 collection, Prada delivered raw-edge chino micro-miniskirts belted below the hip bone. Firstview (8); courtesy of Prada PRADA STILL resides in the Milanese apartment where she and her two older siblings, Marina and Alberto, grew up. David Lee/© Fox Searchlight Pictures, via Everett Collection Latifah on “The Equalizer” in 2023.

Persons: Queen Latifah Annette Bening Henry Taylor Miuccia Prada, I’m, Queen Latifah, Henry Taylor, D’Angelo Lovell Williams, Miuccia Prada, Collier Schorr, Annette Bening, Katy Grannan, Delphine Danhier, Rob Talty, Sara Tagaloa, Rahim Fortune, Ian Bradley, Iasia Merriweather, Raisa, Prada, you’ve, YANAGIHARA, HENRY TAYLOR, Taylor, Thom Browne cardigan, ”, “ I’ve, Philando, Diamond Reynolds, Henry Taylor’s “, Mark Dever, Dever, “, ” Dever, Castile, he’ll, Steve Cannon, Cannon, —, ” Taylor, Joshua White, panhandlers —, he’s, Cora, isn’t, He’s, Michelle Obama, Bob Dylan, Alice Coachman, Chuck Berry, Jay, Stanley Williams, Haile Selassie I, there’s, Taylor’s “ Cora, Jeff McLane Taylor, who’ve, — Pablo Picasso, Philip Guston, Henri Matisse, Robert Rauschenberg —, Donald Trump’s, he’d, Picasso, Jordan Casteel, Kerry James Marshall, Jennifer Packer, Amy Sherald, Barack Obama, Michelle, Pharrell Williams, Kendrick Lamar’s, He’d, Emmett Till, Till, Till’s, Dana Schutz, Hannah Black, Schutz, William Styron, Nat Turner, George Jackson, Randy, Jackson, “ George Jackson ”, Dylan, Medgar Evers, Evers, Ku Klux Klan who’d, who’d, Taylor’s “ Cicely, Miles, Sam Kahn, Hershal, Taylor didn’t, Taylor’s, who’s, Bill Traylor, James Jarvaise, Jarvaise, Rauschenberg, Jasper Johns, Louise Nevelson, Frank Stella, Mark Bradford —, Hauser, Wirth —, Michel Foucault, Jacques Derrida, Camarillo, they’re, “ I’m, Carl Lewis ”, Robert Bean, Hershal Taylor, hadn’t, Rodney King, Kathryn Brennan, Sean Bell, Bell, Klaus Biesenbach, James Brown, Brown, shuffles, King James, bro, Johnny Walker, Clint Strozier, George Washington, Cesar Chavez, Chavez, Boycott, “ I’d, Stokely Carmichael, ” D’Angelo Lovell Williams MIUCCIA PRADA, David Cronenberg, Jean, Luc Godard, Dara Birnbaum, Galleria Vittorio Emanuele II, Mario Prada, Patrizio Bertelli, Miu Miu, Guy Marineau, Condé Nast, Homer, “ Prada Marfa, Lauren Weisberger’s, Wears, Drake, Prada hasn’t, Carsten Höller, “ It’s, Suzanne Koller Prada, Suzanne Koller, Gerhard Richter, — Rei Kawakubo, Martin Margiela, she’s, Domenico Dolce, Stefano Gabbana, Donatella Versace, Suzanne Koller “, Francesco Vezzoli, Olivier Rizzo, Ferdinando Verderi, Theaster Gates, Uma Thurman, Frank Ocean, Carla Sozzani, Corso, Vivienne Westwood, Yves Saint Laurent, jolie laide, It’s, “ She’s, Lotta Volkova, Miu Miu’s, Guido Palau, they’d, ‘, Tom Ford, prim, ” Prada, Prada PRADA, Luisa Prada —, Sozzani —, Miuccia’s, Luigi Bianchi, she’d, Godard, Pier Paolo Pasolini, Bertelli, we’re, Lorenzo Bertelli, Giulio Bertelli, ” Francesco Risso, ” Risso, Fabio Zambernardi, “ Bottega, Gaetano Pesce, Saint Laurent, Pedro Almodóvar, Rem Koolhaas, ” James Jean, Frédéric Sanchez, Sanchez, cardigans, Marc Jacobs, Robert Gober, Louise Bourgeois, Gober, Suzanne Koller Prada pongee, — Prada, Milano, Damien Hirst, ” Koolhaas, Koolhaas, Wes Anderson — who’s, Bar Luce, Fondazione Prada —, ” “, Hirst, Prada sighed, ’ ” Prada, Miuccia Prada hasn’t, Raf Simons, Prada’s, Simons, ” Simons, Dior, Calvin Klein, Jil Sander, ” he’d, Miuccia, ’ ”, Andrea Guerra, Lorenzo, ” Miu, Antoneta Alamat, ” Miuccia Prada, Elio Berenett, Saunders, Awar Odhiang, Jonas Glöer, Chloe Nguyen, Estrella Gomez, America Gonzalez, Marie Duhart, Rafael Medeiros, Stefano Poli, Ariel Sadok, Cameron Koskas, Vassili, Alexandra Adams, Vincent Brière, Vira, Natsuki Oneyama, Joel Phillips, Manicurist’s, Akane Kanazawa, Marek Dague, QUEEN LATIFAH, DANA OWENS, She’d, Melle Mel, Big Daddy Kane, D.J.s, Owens, Nikki Giovanni, Octavia E, Butler, M.C.s, Latifah, Jazzy Joyce, MC Lyte, Lyte, ” Latifah, We’re, She’s, Shakim Compere, Norma Kamali, David Yurman, David Webb, Ian Bradley Louis Vuitton, Monie, Gary Gray’s, Tracy Oliver, Kenya Barris, Megan Thee, Viola Davis, it’s, LATIFAH, Michael Jackson, Shakim, Rita Owens, Compere, Rita, scions, Amina, Amiri Baraka, Lauryn Hill, Latifah wasn’t, Lyte’s, Roxanne, Roxanne Shanté, Dana Owens, Danyel Smith, Queen Latifah —, Latifah ”, Tommy Boy, Jada Pinkett Smith, I’d, ’, ” Pinkett Smith, Al Pereira, Michael Ochs, Raymond Boyd, Getty, D’s, Gray, Latifah’s, Luther Vandross’s, Lancelot Owens Jr, Winki, Kierna Mayo, Love, merrily hyperhappy, Harriet Tubman, Angela Davis, Winnie Mandela, Tipper Gore, Al Gore, ” Love, Giorgio Armani, Van Cleef, Will Smith’s, Bel, Amanda Wicks, John Singleton’s “, Cleo, Clover Hope, “ Will, Smith, Wright ”, “ Bessie, Bessie Smith, Dee Rees, Ma Rainey, Jack Gee, Michael K, Williams, Compere’s, helpfully, Sylvia Robinson, Debra Martin Chase, Wright ” —, Lancelot Owens Sr, Pinkett Smith, Edward Woodward, Denzel Washington, Latifah’s Robyn McCall, Danyel, Vi, Lorraine Toussaint, Robyn, Paul Drinkwater, Cress Williams, Adam Lazarre, Everett, Kimberly Elise, Vivica, Nicola Goode, LL, “ Bessie ”, Frank Masi, David Lee, Jocelyn Prescod, scleroderma, David Jolicoeur, Love —, Eboni Nichols, she’ll, gazes, Bruce Springsteen, Sarah Vaughan, Frank Sinatra, They’ve, Cartier, Iasia Estée, Raisa Flowers, Adrien Potier, Fallou, Nuvany David, Manicurist, Lisa Logan, Derrick Bernard, Casey Jones, Stylist’s, Charles Ndiomu, Tyler Sparling, ANNETTE BENING, Diana Nyad, “ Nyad, Bening’s, Jimmy Chin, Elizabeth Chai Vasarhelyi, Alex Honnold’s, ” Chin, Nyad, Bening, Rada Owen, Owen “, Ralph Lauren, Carrie Fisher’s, Julia ”, Robert Caro, ” Bening, that’s, Delphine Danhier Gabriela Hearst poncho, Dianne Feinstein, Austin Butler, Elvis, manqué, Mike Mills, Nyad ”, Diana, Cillian Murphy, “ Oppenheimer, Kurt Collins, BENING, Tina, Tony, Pierre Choderlos, didn’t, Marquise de Merteuil, Milos Forman’s “, Glenn Close, Valmont, Lisa Cholodenko, Meryl Streep, Alexander McQueen, Forman, Stephen Frears, Myra Langtry, Langtry, Bugsy ”, Warren Beatty, moll Virginia Hill, Reagan, Ben Organizations: Minn, Facebook, Hauser & Wirth, Museum of Contemporary Art, Whitney Museum of American Art, MoMA, Los, Whitney Biennial, Biennial, Black America, New York Times, Louis Vuitton, Black Panthers, U.S ., San, Prison, Ku Klux Klan, Ardmore, New York’s Museum of Modern, California Institute of Arts, Wirth, CalArts, Mental Hospital, Studio Museum, Queens, Times, Flames, University of Southern, Fondazione Prada, New, Galleria Vittorio, Prada, Prada Group, Olympic, Harvard, Gucci, University of Milan, Union of Italian, Communist Party, ABC, Suzanne Koller Journalists, Yorker, Milano Prada Arte, Fondazione, tote, New York, Guggenheim, OMA, Next Management, Oui Management, Ford Models, Lumien, Management Paris, IMG Models, America, Bryant Artists, Burger, Swatch, Irvington High School, Black Arts, Hit Factory, Ramada, Hollywood, Flavor Unit Entertainment, CBS, WHO, Factory, Irvington, Tommy Boy Records, Unit, Michael Ochs Archives, Getty, AMC, Play Studios, Music Resource Center, “ Chicago ”, HBO, Jazz, Mo’Nique, Sugar Hill Records, Winki, ”, NBCU, Warner Brothers, Fox, Miramax, Paramount, Fox Searchlight Pictures, Everett, Bank, BET, Hawks, Mori, Digital, Key West, Liverpool ”, SAG, Telluride Film, Variety, Broadway, Miami, Writers Guild of America Locations: Los Angeles, Koreatown, Philando Castile, St, Paul, Oxnard, California, New York, “, Queens, Chicago, Mississippi, U.S, San Quentin, Castile, bro, Naples, East Texas, Ardmore, Alabama, Camarillo, Santa Barbara, Oakland, Oaks, Harlem, York, Long Island City, Spain, Vegas, University of Southern California, Texas, Milan, Canadian, Switzerland, ”, Marfa , Texas, Italian, Belgian, Corso Como, Paris, British, chino, Firstview, Milanese, Alberto, Europe, Italy, —, Taiwanese American, there’s, Manhattan, Koolhaas, Rotterdam, Netherlands, New, Antwerp, Croatian, America, Newark , N.J, Midtown Manhattan, Hudson, Brooklyn, Hit Factory , New York City, NoHo, New York City, Lafayette 148 New York, New Jersey, Newark, Jersey, Baltimore, Milwaukee, Hollywood, “ Chicago, Watts, Havana, Key, Fla, Bening, Dominican Republic, Capitan, Yosemite, San Diego, Simi Valley, Calif, Givenchy, Liverpool, Nyad, Cuba, Florida, San Francisco, Denver, Tina Howe’s, Champagne, yips

☆ What you need to know about Europe’s bedbug panic
▼ + stars: | 2023-10-14 | by ( Blane Bachelor | ) edition.cnn.com time to read: +12 min

“Since I am a dermatologist and I post a lot on my clinic account, I thought it would be nice to post a reel on bed bugs,” she told CNN Travel. “I was like, ‘I find that very hard to believe’,” Starkey told CNN Travel. Yet in Belgium, doctors in Antwerp are “sounding the alarm” about the spread of bedbugs from Paris, according to The Brussels Times. Colleen Oakley, a bestselling novelist in Atlanta, told CNN Travel she would “absolutely not travel” to Paris right now based on her “awful” experience with the creepy crawlies in 2006. It sounds silly to have panic attacks over bugs, but they are really invasive critters.

Persons: Zeina Nehme, bedbugs, Nehme, “, ” Cynthia Starkey, Starkey, texted Starkey, she’d, ” Starkey, Mikayla, I’m, ’ ” Starkey, ” Zach DeVries, ” DeVries, Stella McCartney, Marc Piasecki, Emmanuel Macron’s, Paris Emmanuel Grégoire, Aurélien Rousseau, bedbugs ”, hasn’t, Sadiq Khan, ”, Joe Rominiecki, I’ve, Richard Pollack, Pollack, Paris –, Apple bedbugs, “ Bedbugs, –, Naomi Campbell, “ bedbugs, Colleen Oakley, Oakley Organizations: CNN, City, CNN Travel, Paris, University of Kentucky’s, bedbugs, Fashion, French, Monde, Emmanuel Macron’s Renaissance Party, French Health, France Inter, Eurostar, French Agency for Food, Occupational Health, Safety, Entomological Society of America, Harvard Campus Services, Apple, NL Times, Brussels Times, Air, World Health Organization, telltale, American Academy of Dermatology Association, Travelers, Orkin Locations: Paris, London, City of, Beirut, Lebanon, Phoenix, Europe, France, New York, Netherlands, Belgium, Luxembourg, Germany, Antwerp, bedbugs, Air France, Orkin Canada, Atlanta, New, West Village

BRAUNAU AM INN, Austria (AP) — Work started Monday on turning the house in Austria where Adolf Hitler was born in 1889 into a police station, a project meant to make it unattractive as a site of pilgrimage for people who glorify the Nazi dictator. The decision on the future of the building in Braunau am Inn, a town on Austria's border with Germany, was made in late 2019. Plans call for a police station, the district police headquarters and a security academy branch where police officers will get human rights training. On Monday, workers put up fencing and started taking measurements for the construction work.The police are expected to occupy the premises in early 2026. The building had been rented by Austria’s Interior Ministry since 1972 to prevent its misuse, and was sublet to various charitable organizations.

Persons: —, Adolf Hitler, Austrian, Florian Kotanko, ”, ” “ Organizations: Austria’s Interior Ministry Locations: Austria, Nazi, Braunau, Austria's, Germany

☆ Meta is spending $181 million to end a lease on an office it never moved into, report says — as Big Tech continues to reassess the role of in-person work
▼ + stars: | 2023-09-27 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Meta had 18 years remaining on the lease for an eight-storey office in London, the FT reports. AdvertisementAdvertisementMeta has paid $181 million to end its lease on an office in London that it never moved into, the Financial Times reported. And last December, Meta moved out of two of its New York offices. AdvertisementAdvertisementAfter office workers generally worked from home during COVID-19, many bigger companies have now mandated returns to office. AdvertisementAdvertisement"Working from home during the various Covid lockdowns tore up the rulebook for office workers, allowing a level of freedom as to where (and when ?)

Persons: Meta, —, Matthew Saperia, Peel Hunt, Mark Zuckerberg's, Adam Mosseri, Paul Jayson, DLA Piper, lockdowns Organizations: Big Tech, Service, Financial Times, Peel, Triton, Meta, Estate Locations: London, New York, King's, COVID

☆ Writers, Actors and Others Struggle to Pay the Rent as Strikes Continue
▼ + stars: | 2023-09-21 | by ( Ronda Kaysen | More About Ronda Kaysen | ) www.nytimes.com time to read: +1 min

Faye Lauren, a celebrity makeup artist, loved the Williamsburg, Brooklyn, apartment she shared with two roommates for eight years. But in July, when Hollywood actors called a strike, celebrity red carpet events, and, in turn, Ms. Lauren’s career, evaporated. Without income, Ms. Lauren could not pay the rent. “When the actors’ strike happened, I knew that I had to leave,” she said. Two months into the actors’ strike, and almost five months into a writers’ strike against the same entertainment companies, people who work in the film and television industry are struggling to keep up with basic living expenses.

Persons: Faye Lauren, Lauren’s, Lauren, ”, “, sublet, Bowie Locations: Williamsburg , Brooklyn, South Florida

☆ What it's like in Europe's popular crypto haven Portugal as the U.S. cracks down
▼ + stars: | 2023-09-09 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

They understood the importance of self custody of bitcoin, bitcoin on bitcoin blockchain, not on other chains." Sunrise over Lisbon, Portugal Alexander Spatari | Moment | Getty ImagesThe San Francisco of EuropeA walk through Portugal's capital feels eerily similar to a stroll in San Francisco. "This makes Portugal a really attractive place for crypto users to live," explained Shehan Chandrasekera, a CPA and head of tax strategy at crypto tax software company CoinTracker.io. The only exception to the country's generous crypto scheme relates to companies registered in Portugal that deal in crypto. Cyclists photographed in Lisbon, Portugal, in October 2018.

Persons: Alexander Spatari, PORTUGAL —, maximalists, Lorenzo Primiterra, He's, Peter Pan, Primiterra, Terra Luna, bitcoin, solana, Greenfield, Portugal Alexander Spatari, Jemson Chan, Chan, CNBC Guy Young, Seb True, CNBC Seb, True, That's, it's, bitcoiners, I've, Stephen Knowles, cryptocurrencies, Shehan Chandrasekera, Katie Ananina, Ethena's Young, —, Deley, Deley doesn't, that's, Didi Taihuttu, They've, Taihuttu Organizations: Campo Pequeno, maxis, CNBC Software, CNBC, titans, Securities and Exchange Commission, British, Abril, European, CPA, Cyclists, European Union, D7, Companies, Algarve Locations: LISBON, PORTUGAL, Lisbon, Italy, Portugal, Almada, Lisboa Region, outranking New York, Berlin, Singapore, European, Sunrise, San Francisco of Europe, San Francisco, bitcoin, Europe, Crypto, U.S, Egypt, Asia, Switzerland, it's, Puerto Rico, Australia, Canada, Ghent, Belgium, cryptocurrency, Cryptocurrencies, Lisbon's, Lagos, Angeles, Algarve

☆ 5 real-estate investors explain how they created cash flow by leveraging other people's properties through a strategy called 'rental arbitrage'
▼ + stars: | 2023-08-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Rental arbitrage is a strategy in which you rent a property and sublet it on platforms like Airbnb. There are plenty of creative ways to break in, including rental arbitrage. The goal is to make enough in short-term rental income to not only cover rent, but pocket extra cash each month. Insider spoke with five investors about how they created cash flow with relatively low start-up costs by leveraging other people's properties. Courtesy of Zeona McIntyreZeona McIntyre did a slightly different version of rental arbitrage back in 2012.

Persons: who've, Nathan, Taniera Turner, Nathan Turner Houston, Turner, Zeona McIntyre, Zeona McIntyre Zeona McIntyre, McIntyre, That's, It's, she'd, there's, Jim Resonable, Seegars, Jervais Locations: Houston, Des Moines, Louisville, Boulder, Airbnb, North Carolina , California, Georgia, Savannah , Georgia

☆ A financially independent real-estate investor who had to get creative to afford her first property shares 3 strategies rookie investors can use to get started on a tight budget
▼ + stars: | 2023-08-18 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Look into private lending, which is how she started, and subject-to financing, she advises. Private lendingThis is exactly how McIntyre financed her first property: She obtained a private loan, rather than going through a traditional mortgage lender. We worked out a private loan and he didn't need to verify my income or anything. Subject-to financingWith subject-to financing, the buyer takes over the existing financing. You don't actually assume the mortgage — it remains in the seller's name with the same terms — but you'll make mortgage payments on behalf of the seller.

Persons: Zeona McIntyre couldn't, McIntyre, I'd, Zeona McIntyre, Zeona, she's, you'll, I've Locations: Colorado, Boulder

If you can sublet rooms in your apartment, you can make passive income each month. You could instead invest that money in stocks or an entrepreneurial passive income stream. Certified financial planner Christopher Manske has three ways that renting can make you wealthier than owning a home does. You would then be able to pay the rent and earn an additional $2,000 a month in passive income. If you want to live in one of those rooms, your cost of living could be covered by renting out the rooms for more money.

Persons: Christopher Manske, Manske Organizations: Service Locations: Wall, Silicon

New York is doing better than San Francisco — Manhattan has a vacancy rate of 13.5 percent — but it can no longer count on the technology industry for growth. More than one-third of the roughly 22 million square feet of office space available for sublet in Manhattan comes from technology, advertising and media companies, according to Newmark. The company has opted not to renew leases covering 250,000 square feet in Hudson Yards and for 200,000 square feet on Park Avenue South. Twitter, Microsoft and other technology companies are also trying to sublease unwanted space. The large amount of space available for sublet is also driving down the rents that landlords are able to get on new leases.

Persons: Newmark, ”, Ruth Colp, Haber, Colp Organizations: sublet, New, New York State, Spotify, Trade Center, Twitter, Microsoft, Wharton Property Advisors Locations: York, Francisco —, Manhattan, New York, Hudson Yards

☆ Mulling Manhattan One-Bedrooms: Prewar Charm or Modern Amenities?
▼ + stars: | 2023-07-06 | by ( Joyce Cohen | ) www.nytimes.com time to read: +2 min

But “we always got super discouraged at how expensive everything was and how little you get for your money,” Ms. Pfeiffer, 50, said. Their budget hovered around $800,000, but “we know ourselves,” Ms. Pfeiffer said. “Our future selves wanted to plan for this possibility,” Ms. Pfeiffer said. An early visit to a high-floor co-op apartment in a charming prewar walk-up reminded them that “going up and down was asking a lot of our bodies, even without carrying groceries, cats, bags, whatever,” Mr. Vogel said. The housing stock was more suitable below 60th Street, so they decided that avoiding congestion pricing wasn’t that important after all.

Persons: Maria Pfeiffer, Jason Vogel, Ms, Pfeiffer, “, Vogel, Christopher Baker, Pfeiffer’s, ” Ms, ”, Mr, Baker Organizations: Keller Williams NYC Locations: Columbia County, Albany, Hudson

☆ Elon Musk tried using fear to get Twitter employees back to still 'empty' offices. His new CEO is trying a different approach.
▼ + stars: | 2023-06-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +5 min

Elon Musk for months has demanded Twitter workers come in five days a week. Elon Musk instituting a "culture of fear" at Twitter has not been enough to get the remaining employees to return to the office consistently. The new CEO is making a concerted effort to try and get people to want to come into the office, the person familiar said. Musk has been in the process of closing and shrinking Twitter offices for months. Prior to Musk's takeover, Twitter had 18 offices in the U.S.Are you a Twitter employee or someone else with insight to share?

Persons: Elon Musk, Linda Yaccarino, Elon, Jack Dorsey, It's, Yaccarino, Twitter's, Musk, Kali Hays Organizations: Twitter, Workers, New, Twitter's San Locations: San Francisco, New York, Twitter's San Francisco, San Francisco , New York, Los Angeles, U.S, khays

☆ 45-year-old self-made millionaire shares his 4 'cheat codes' to help skyrocket your wealth
▼ + stars: | 2023-06-27 | by ( Alan Corey | ) www.cnbc.com time to read: +2 min

When I told my friends and family that I was going to get rich off real estate investing, they laughed at me. I invested a large chunk of my 9-to-5 earnings into real estate. Now, at 45, I'm a self-made millionaire with 366 units in my property portfolio. I earned my first million through unconventional investing methods that took advantage of a strong real estate market. 'Float' from mortgage to mortgage.

Locations: Atlanta, Manhattan, Airbnb

☆ The Thrill of New York, Despite an Awful Lot of One-Month Rentals
▼ + stars: | 2023-06-19 | by ( Debra Kamin | ) www.nytimes.com time to read: +1 min

“I messaged the girl whose room we rented, and I remember asking her, ‘How did you move to New York? How much did it cost?’ I got all the information I could from her, because I was so interested in hopefully living there one day,” said Ms. Pearce. By late 2021, with international travel again sanctioned, she had waited long enough. She got the windowless sublet, but knew that if she didn’t also get a job, she would have to leave the country when her 90-day tourist visa expired. So she focused on her job search, as well as studying for a graduate certificate in marketing and digital strategy, which she was earning online.

Persons: ”, Pearce, “, didn’t Locations: New York, Australia, United States

☆ A 27-year-old Airbnb host with 25 units says he works less than 15 hours a week thanks to 3 software tools
▼ + stars: | 2023-06-08 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

He started doing rental arbitrage and has since set up 25 Airbnb units that bring in up to $88,000 in monthly revenue. He says he works less than 15 hours a week, thanks to software tools like PriceLabs and Hospitable. "If I did overtime, I might bring home $700 to $800 a week, but that was after working 50 hours." PriceLabsOne of the early challenges Turner ran into was figuring out how to properly price his Airbnb units. Monday.comTo help manage his 10 employees, delegate tasks, and keep the internal team organized, Turner uses Monday.com.

Persons: Nathan Turner, Turner, Taniera, —, PriceLabs, Monday.com, I'm, It's Organizations: FedEx Locations: Houston , Texas, PriceLabs

☆ A former FedEx driver who couldn't afford to invest in real estate the traditional way explains how he used 'Airbnb arbitrage' to acquire 25 rental units in less than 2 years
▼ + stars: | 2023-06-02 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

If you're looking to get into real estate but don't have a ton of capital, 'rental arbitrage' is an option. You sign a long-term lease and then rent out that property on short-term rental platforms like Airbnb. Nathan Turner used this strategy to set up his first Airbnb unit with $6,400. The Turners' upfront costs would include: first month's rent, a security deposit, and furniture. Between first month's rent, a $1,200 security deposit, and furniture, they spent about $6,400 and three weeks putting together their first Airbnb in 2021.

Persons: Nathan Turner, Turner, Taniera, wholesaling, Airbnb, they'd, we've, he's, it's, I've Organizations: FedEx, Turners, Houston Locations: Houston , Texas, Houston, Louisville, Des Moines

☆ 10 Things in Tech: Renting properties to sublet them, the world’s largest polymer 3D printer, and a bare-bones Tesla Cybertruck interior
▼ + stars: | 2023-05-29 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I'm Diamond Naga Siu, and I'm excited that the French Open main draw is in full swing today. ChatGPT helped these people earn more money and become better at their jobs. Insider profiled four of them about how it has made their jobs easier: a recruiter, broker, entrepreneur, and chief marketing officer. My colleague Jack Sommers gathered their profiles and highlighted how these workers turbocharged their jobs with technology. Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Alistair Barr (tweet @alistairmbarr) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.

Search resuls for: "sublet"

25 mentions found