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☆ How Freddie Mac is helping renters use their on-time rent payments to build credit and achieve homeownership
▼ + stars: | 2022-10-12 | by ( Sponsor Post | Created Insider Studios With Freddie Mac | ) www.businessinsider.com time to read: +6 min

In this challenging economic environment, Freddie Mac has implemented two new initiatives that can help strengthen renters' ability to build credit and achieve homeownership using their history of on-time rent payments. Yet, unlike homeowners who make regular mortgage payments, renters generally do not see their on-time rent payments reflected in their credit scores. Worse yet, the most common way rent payments impact credit scores are when missed rental payments go into collection. After enrollment, the renter's on-time rent payments are reported to the credit bureaus each month. Since Freddie Mac began this initiative last year, 86,000 households across more than 900 multifamily properties have enrolled.

☆ Renters are finally being rewarded for paying the bills on time with cash back, gift cards, and even boosted credit scores
▼ + stars: | 2022-10-02 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Historically, the US's 44.2 million renters have written checks to their landlords and kissed that cash goodbye. In lieu of a security deposit, Up&Up users "invest" one month's rent into their Up&Up Wallet. Bilt: Building credit is as easy as paying rentAt the rental-rewards startup Bilt, renters are rewarded for paying rent. Piñata: Crack open the rewards while rentingPiñata, too, offers rewards for renters, alongside credit reporting. They can also have their rent payments reported to TransUnion.

Parafin, launched in 2020, works with so-called platform partners, or companies that other small businesses sell their products through. All the cofounders knew was that they wanted to build technology that would help small businesses. And they may not get their first contract payment from the government for as long as 120 days," Reed, the startup's CEO, told Insider. Helping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping. HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.

☆ Bilt Mastercard holders can earn up to 6x bonus points on spending with Bilt's new 'Rent Day' promotion, and get potentially thousands of dollars in savings with partners
▼ + stars: | 2022-09-26 | by ( Joseph Hostetler | Credit Cards Reporter | Read More | ) www.businessinsider.com time to read: +12 min

Bilt Rewards is proving itself to be perhaps the most versatile and useful rewards currency in the travel world. Also in the works are also some gamified promotions that give you fun ways to periodically earn Bilt Rewards. Rent Day ChallengeBilt states that it's working with popular creators to give away rent for select followers. On October 1, 2022, you'll be able to play a Bilt Point Quest virtual trivia game through the Bilt Rewards app. Rent Day doubles your earnings with the Bilt Mastercard® (capped at 10,000 points per Rent Day).

☆ How to build wealth from real estate investing, according to 7 couples and individuals who have done it
▼ + stars: | 2022-09-23 | by ( Business Insider | ) www.businessinsider.com time to read: +10 min

With patience and the right strategies, real estate investing can be a path to financial freedom. Several people who have used real estate to build wealth told us how they got started. Insider spoke to individuals, including Zuber, who have used real estate as a tool to build long-term wealth. When he was in high school, "I found online that 90% of all millionaires became so through owning real estate." From that point on, he decided that real estate would one day be his path to wealth.

☆ Why it's getting even harder to keep a roof over your head
▼ + stars: | 2022-09-22 | by ( Anna Bahney | Cnn Business | ) edition.cnn.com time to read: +6 min

Americans are now spending more than 35% of their median income on monthly principal and interest payments for that newly purchased median-priced home. Historically, Americans spent closer to 25% of median income on payments. Instead, mortgage rates tend to track the yield on the 10-year US Treasury. As investors anticipate the Fed's rate hikes, they often sell government bonds, which sends the yield higher and, with it, mortgage rates. In May, the Biden administration announced a Housing Supply Action Plan to close the affordability gap and ease housing costs.

Let's break down some of the myths around real estate as an investment that can mislead you — and in the process, show why real estate isn't a prerequisite for building assets. Real estate isn't always a good investment (or an investment at all)"Always" and "never" don't have a place in a savvy investor's vocabulary. Insider's Featured Real Estate Investing Platforms FundriseYieldstreet Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. You don't have to purchase a property to invest in real estate, anywayNone of this is to say that buying real estate is a bad move or won't work out in your favor. By investing in an REIT, you invest in a company that professionally buys, sells, and manages real estate properties for profit.

I've had a great tenant for the last several years but that almost wasn't the case. I set up strict criteria for applicants but nearly rented to someone who didn't measure up because I liked them personally. She was very interested, but she had inconsistent employment and a pet that didn't meet my listed criteria. Clearly defining my rental criteria was key to making a smart, fair choiceSince then, I've become a lurker in landlord social media groups and listened to podcasts for landlords. Because of that, it's so important to have clearly defined rental criteria in your ads, including items like a minimum verifiable income and photo ID.

You probably already know that most travel credit cards offer some form of rental car insurance. Show more Regular APR 19.24% - 26.24% Variable Editor's Rating 4.65 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.65 out of 5 Stars Our editor's ratings analyze fees, bonuses, rewards, and benefits to highlight the simplest and most valuable credit cards available. It's often said the Chase Sapphire Preferred is the best starter travel credit card — and primary rental car insurance is a big reason why. Whether your coverage comes from a credit card, the auto rental agency, or your personal insurance plan, you should get rental car insurance. Of all rental car insurance options, primary insurance with a credit card is the best value.

☆ Renter activists crashed a DC landlords conference to protest 'corrupt greed' and rising rents
▼ + stars: | 2022-09-15 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

More than 100 protestors gathered at the National Multifamily Housing Council's annual fall conference. On Tuesday, more than 100 tenant activists ambushed a national gathering of corporate landlords to demand that "lawmakers stop opposing tenant protections at the behest of real estate groups and developers." Chanting "down with corrupt greed" and "no more rent increases" activists stormed the hotel's halls, interrupting conference sessions to air their grievances with the nation's top multifamily developers. In the capital city of each of these states, rents have climbed by 13% and 4% year over year, respectively. "Without rent control, whether it's national, state or local, we're prioritizing profits at the expense of renters," she said.

☆ Airbnb hosts' worst nightmares — fires, falls, or deaths — can leave them on the hook for damages. Here are 4 steps to take right now to make any property safer.
▼ + stars: | 2022-09-15 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

Avoidable incidents occur in short-term rentals, of course. Ford's safety advocacy began with a Facebook page where he highlighted news stories about accidents in short-term rentals to educate hosts. An example of virtual inspection on an app Ford designed. But many guests choose short-term rentals specifically so they can cook, increasing the likelihood of a fire, he said. Invest in pool safetyA tragedy in North Carolina was prevented recently because of proper pool safety.

The Bilt Mastercard is offering 3x points (up to 2,500 points total) on gas until October 31, 2022. Artit Fongfung / Getty ImagesUntil October 31, 2022, the Bilt Mastercard® will offer 3x points on gas (up to 2,500 points total). Conveniently, the Bilt Mastercard® is offering 3x points on gas through the end of October. Annual Fee $0 Intro offer N/A Recommended Credit Good to Excellent Regular APR 14.99% - 29.99% Variable Editor's Rating 4.5 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5 out of 5 Stars Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. If you already have the Bilt Mastercard® and you spend a lot on gas, you'll definitely benefit from this limited-time offer.

British Airways is onboard with Bilt Rewards as its 10th airline transfer partner. Now there's another reason to consider joining Bilt Rewards and opening the Bilt Mastercard® — it's just added British Airways Executive Club as its 10th airline transfer partner. The addition of these partners makes Bilt Rewards points even more flexible if you want to use them for travel. With the addition of British Airways, Aer Lingus, and Iberia, Bilt Rewards now has 14 airline and hotel partners:Why transfer Bilt Rewards points to Avios? You'll typically get the most from Bilt points by transferring them to airline and hotel partners for award travel — in fact, that's why Insider values Bilt points as worth 1.65 cents each, on average.

It's easy to earn United miles even if you're not flying right now, and because they don't expire, you can use miles when you're ready to travel again. Show more Regular APR 18.24% - 25.24% Variable Editor's Rating 4.8 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Our editor's ratings analyze fees, bonuses, rewards, and benefits to highlight the simplest and most valuable credit cards available. Show more Regular APR 19.99% - 26.99% Variable Editor's Rating 4.65 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.65 out of 5 Stars Our editor's ratings analyze fees, bonuses, rewards, and benefits to highlight the simplest and most valuable credit cards available. Earn United miles by flying United and its partnersOf course, the other main way to stock up on a lot of United MileagePlus miles is to fly United and its other airline partners. Earn United miles with other travelIn addition to just flights, you can earn United miles by booking stays with United's hotel partners, sailings through United Cruises, and entire trips through United Vacations, as well as partner car rentals.

☆ New & Notable: Latest releases from Panasonic and Miir
▼ + stars: | 2022-08-06 | by ( Justin Krajeski | Justin Krajeski Is An Associate Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +3 min

This story is part of Select's New & Notable column, where we highlight our favorite product launches, major sales, what we're buying and some of our latest recommendations and advice. Though I’ve always considered myself stylish — or at least aware of clothing trends — I’ve never been terribly concerned with shoes. —Justin Krajeski, associate editorIn her new apartment, Zoe Malin abandoned curtain rods and hung up stuck no-nail adhesive shades instead. We rounded up some expert-recommended travel pillows to keep you comfortable while you travel on a plane or a train. Select intern Zoe Malin discussed her love for the Brava Smart Oven, which uses light to cook food and can replace your air fryer, toaster, microwave and more.

While it used to be impossible to charge your rent or mortgage payments to a credit card to earn points, that has changed in recent years. Several services let you pay your housing expenses with a credit card, and there's even a credit card designed for this very purpose. Credit cards to use on rent and mortgage paymentsOnce you have a program picked out that lets you pay your rent or mortgage with a credit card, you'll want to choose a credit card that offers maximum rewards. Read our review Read Our Review A looong arrow, pointing rightThe Capital One Venture Rewards Credit Card and Capital One Venture X Rewards Credit Card earn 2x points on almost all spending, including rent and mortgage payments. If you can earn points on rent and mortgage payments without massive fees, it's absolutely worth it.

☆ I helped my dad get a tiny home for his Bay Area backyard. He nets $1,000 a month, and his property value is through the roof.
▼ + stars: | 2022-07-21 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +5 min

Glenn Robinson came up with a plan for his parents: put a tiny house in their backyard for $185,000. The Robinsons clear $1,000 a month off the tiny house. I've been telling him for years, "Hey, Dad, you should put a tiny house in that backyard." I'm a co-owner of the tiny house and a bit of the project manager. My dad refinanced his home — we got a $230,000 home-equity loan and used $185,000 to pay for the tiny house.

Wells Fargo is in the process of refreshing its credit card lineup, first with the launch of the Wells Fargo Active Cash® Card last summer and the Wells Fargo Reflect® Card in the fall. Wells Fargo Autograph card benefits and featuresDespite having a $0 annual fee, the Wells Fargo Autograph℠ Card actually offers a substantial set of benefits that can save cardholders money. Emergency cash disbursement and card replacementIf you lose your Wells Fargo Autograph℠ Card, you can get an emergency cash advance and a card replacement within one to three days after contacting Wells Fargo. My Wells Fargo DealsMy Wells Fargo Deals are offers for cash back when you shop with certain merchants such as Starbucks and Airbnb, meet any specified requirements, and pay with your Wells Fargo Autograph℠ Card. What credit score do you need to get the Wells Fargo Autograph card?

☆ Should you rent or buy a house? Use the 'BURL' rule to avoid financial regret, says real estate investor
▼ + stars: | 2022-07-19 | by ( Sam Dogen | ) www.cnbc.com time to read: +4 min

BURL: The rest estate investing rule to followAs real estate investor, I always recommend using the "BURL" rule — which stands for "buy utility, rent luxury" — to avoid financial regret. Savvy real estate investors often pay no more than 100 times the monthly rent to purchase a property. In the case of the couple above, an investor following the 100 times monthly rent rule wouldn't pay more than $750,000 because the monthly market rent was $7,500. There are people who pay six-figures a year in rent, but are actually coming out ahead thanks to the BURL rule. The BURL rule says that if you can afford it, buy the Honda Civic and rent the Ferrari on weekends.

☆ Here's how I used a HELOC to become an Airbnb millionaire at 30. It was risky, but my strategy paid off.
▼ + stars: | 2022-07-16 | by ( Bryce Decora | ) www.businessinsider.com time to read: +13 min

This was the beginning of a world of real estate that would change our lives foreverDeCora's Bellevue Airbnb. If the real estate market started trending downward at this time, this story may not have had such a happy endingExtending your debt to the max in real estate is the equivalent of an all-in poker move. Our three-house real estate portfolio is worth around $2.5 million and we only have $1.35 million in mortgage and HELOC debt. Once you get over the scary leap, you'll see real estate as a simple way to building a massive empire. Bryce DeCora is a former engineer turned real estate investor and a father of two.

There's some cliché financial advice I've heard over and over that financial planners say to ignore. "Renting is throwing money away" and "a credit card balance is good for your credit score" are examples. That made me wonder if frequently passed-along financial advice always rings true. Crypto is the futureLately, all the financial advice my friends are giving me has to do with cryptocurrencies. "Since credit utilization is responsible for 30% of your credit score, it's a good idea to keep it as low as you can."

☆ I made $5,500 in 2 months renting my family's cars on Turo. The extra income helps us pay our bills and save for my kids' college fund.
▼ + stars: | 2022-06-08 | by ( Kimanzi Constable | ) www.businessinsider.com time to read: +6 min

Daniel Veiga, 41, rented out one of his family's five cars on the car-sharing app Turo. Within a month, Veiga began renting out four of the five family cars, generating $4,229 in bookings. The revenue he makes from the car-sharing app Turo has been verified by Insider. My friend said Turo was an app where you could rent people's cars and get the exact vehicle you wanted. We used Turo exclusively for the next three years to rent cars.

☆ I've made $26,000 renting out my extra yard space on an app. It's been a great low-lift side hustle and only takes 5 to 10 hours a month.
▼ + stars: | 2022-05-17 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

In 2020, she listed a vacant lot on her property as storage space on Neighbor, a storage rental app. It's a website and app that connects people who have extra room in their home, garage, shed, or yard with locals seeking space to store their belongings. Since then, my extra acre of yard space has brought in more than $26,700. Renting out my empty yard has been great as a fairly passive income source. If you have extra space that you're not using right now, I'd definitely recommend trying out renting it as storage.

☆ A landlord who owns and manages 16 units shares 'the binder strategy' he uses to set rent prices — and it involves asking tenants to increase their own rent
▼ + stars: | 2022-03-29 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

His "binder strategy" involves including tenants in the conversation about their rent price. He educates tenants on area average rent prices and then asks them what they think they should pay. He calls it the "binder strategy," and it involves his tenants setting their own price. That's where his "binder strategy" comes into play. His tenants in both units were paying about $1,100, but the area average rents were closer to $1,600, he said.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Apply nowBilt Mastercard® 4 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star $0 Annual Fee Intro offer N/A Rewards Earn 3x points on dining. Read our review Read Our Review A looong arrow, pointing rightPaying rent with a credit card is almost always a bad idea. Note that credit card lenders may use many different variations of credit score models when considering your application. I estimate between my other monthly expenses that I spend about $1,000 per year on the Citi® Double Cash Card.

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