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☆ How to buy your first rental property: 5 crucial things to look for and how to make sure it will cash flow, according to BiggerPockets' CEO
▼ + stars: | 2023-11-15 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

This means the property will probably be in a fairly affordable range, and won't be too much to manage. This can mean the economic and population trends in the state or city you're looking to invest in are positive. Making sure a deal cash flowsConsidering the above criteria, Trench said to make a "buy box," or a specific outline of the exact type of property you're looking for. The "buy box" should include specific neighborhoods you're looking to buy in, and a specific price range you're looking to buy in. After all of these expenses, the landlord would still pocket $390 a month, Trench said.

Persons: Scott Trench, Trench Organizations: Business Locations: Troy , New York

☆ You can own part of this 279-foot-long superyacht for $3.2 million and stay on it whenever you want — see inside
▼ + stars: | 2023-11-09 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Superyacht Holdings is giving millionaires the chance to cohabitate the $117 million Victorious superyacht. Superyacht Holdings is taking a (relatively) democratized approach to superyacht ownership with its first target acquisition, the €110 million — about $117 million — Victorious. And because the ship is currently in operation, Superyacht Holdings won't have to do any refitting work. The Locastro brothers says several former employees from The World now work for Superyacht Holdings. Superyacht Holdings hasn't acquired its vessel yet, but this isn't uncommon for ship startupsBuyers can purchase more than one unit.

Persons: —, Thomas Locastro, Matthew Locastro, Matthew, Matthew said, Locastro, James St, John, Justin Thorton Organizations: Superyacht, Service, Holdings, Superyacht Holdings, Monaco, Prix, AKYACHT, Superyacht Holdings hasn't, British Virgin Islands Locations: Spain, France, Croatia, Greece, Caribbean, Turkey, Saint Lucia, Barbados, British Virgin

☆ Homeowners associations can be a boon, or bust, for buyers. Here's how to vet HOAs when house hunting
▼ + stars: | 2023-11-05 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Different types of homes can be affiliated with an HOA, from single-family homes to co-operatives. Single-family homes are separate units where residents own both the plot of land and the house on it, said Clare Trapasso, executive news editor at Realtor.com. They have their own entrances and access to the street and don't share utilities or other systems with other homes. In a condo, residents own their individual units but jointly own the land and the common areas with other residents. Condos are run with a board of people on the homeowners association making decisions for the community, said Jaime Moore, a premier agent for Redfin.

Persons: Clare Trapasso, Jaime Moore, Thomas M, Skiba, Homebuyers, Moore, Redfin's Moore Organizations: Community Associations Institute Locations: New York, Boston, HOA, Nevada

☆ In some states, it's 'nearly impossible' to buy a home that isn't part of a homeowners association, expert says
▼ + stars: | 2023-10-31 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +8 min

These communities are usually overseen by homeowners associations. Homeowners associations, also known as HOAs, are self-governing organizations that implement rules for homeowners and renters within common-interest communities. The board may choose to hire a management company, many of which are for-profit, to help run day-to-day operations. Roughly 84% of newly built, single-family homes sold in 2022 belonged to homeowners associations, according to the U.S. Census Bureau. "But it seemed like [the deal] never got to the management [company] or homeowners association," Enrique Inostroza said.

Persons: Jewel Inostroza, Enrique, Gen Z, it's, Deborah Goonan, Inostroza, Enrique Inostroza, Mark Licea, HOA, Bradley, Tom Skiba, Skiba, Steve Horvath Organizations: Homeowners, Finance, . Census, Communities, CNBC, Management, HOA, Sentry Management, Community Associations Institute, Economics, Rocket Mortgage, HOA United Locations: Newnan , Georgia, HOA, U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow homeowners associations became so powerfulMore than 80% of newly built single-family homes sold in 2022 belonged to a homeowners association, according to the U.S. Census Bureau. HOAs tout themselves as a value-add to homeowners, specifically when it comes to maintaining high property value, but not everyone is pleased with these organizations. More than half, 57%, of homeowners with an HOA dislike the arrangement, and more than 3 in 10 say they feel their HOA has too much power, according to a 2023 survey from Rocket Mortgage.

Organizations: . Census, Rocket Mortgage

I'm the last renter among my friends, so I decided to ask them about all the costs of homeownership. But when I saw the long list of hidden fees and expenses they have to pay for, I was in shock. Here are five of the fees I didn't know homeowners owe that made me realize just how much I want to rent forever. However, your property taxes can keep going up (a soaring housing market or city improvements can make this amount increase). However, the big and frequent costs they paid to keep up the appearances of their homes really did add up.

Persons: —, dishwashers, doesn't, it's Organizations: Service

☆ Romance Novels Brimming With Bookish Sorts
▼ + stars: | 2023-09-28 | by ( Olivia Waite | ) www.nytimes.com time to read: +1 min

As with Dumas’s original, the central question is: What is a life truly worth? Status and power are easy metrics, but they’re incomplete — how do you redress a lost love, or broken friendships, or shattered kinship? Quynh intends to pay back violence with violence, but Hoà helps her realize that perhaps justice looks more like claiming happiness for herself instead. In A SHOT IN THE DARK (Dell, 320 pp., paperback, $17), Victoria Lee brings us back to the here and now. She works out her homecoming jitters by hooking up with a hot trans dude at a queer club — only to discover in class the next morning that he’s actually her hot trans photography professor, Wyatt Cole.

Persons: Quynh, Hoà, Victoria Lee, Ely Cohen, he’s, Wyatt Cole, Wyatt Locations: L.A, New York

In a statement to Reuters, Mobile World said it would announce the information once the deal was concluded. The sources said the deal could value Bach Hoa Xanh, Vietnam's third largest grocery chain, at around $1.5-$1.7 billion. Founded in 2015, Bach Hoa Xanh, backed by Vietnam's retail giant Mobile World Investment (MWG.HM), is running more than 1,700 stores in Vietnam's southern and south-central provinces. The Ho Chi Minh City-headquartered company had first planned the sale of a stake of up to 20% in Bach Hoa Xanh last year. Bach Hoa Xanh was expected to be profitable from next year, its managing director told investors last month.

Persons: GIC, Bach, Xanh, Yantoultra Ngui, Chayut, Kane Wu, Simon Cameron, Moore Organizations: Investment, Mobile, Revenue, Thomson Locations: SINGAPORE, HANOI, Thailand, Vietnam, China, United States, Chi Minh City, Bach Hoa, Singapore, Phuong Nguyen, Hanoi, Bangkok

☆ I built a $35K tiny house in my backyard and live in it. I now rent out my main home and use the money to pay off my mortgage.
▼ + stars: | 2023-08-09 | by ( Alyshia Hull | ) www.businessinsider.com time to read: +4 min

Precious Price built a tiny house in her backyard to offset living expenses. What if I placed a tiny house back there, move into it, and then rent out my primary home? The exterior of the tiny house Precious Price built in her backyard. A tiny house doesn't make it a tiny project. But my mistakes I made with the tiny house turned into a lesson, and I am happy with that.

Persons: Price, Precious Price, grout, that's Organizations: Service Locations: Wall, Silicon, Atlanta , Georgia, HOA

☆ A 37-year-old who is financially independent from her 12-unit real estate portfolio says 'investors overlook condos.' She explains why this type of property is a smart investment and her 'secret sauce
▼ + stars: | 2023-08-06 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +3 min

Real estate investor and consultant Zeona McIntyre says that investors overlook condos. While some investors may see HOA fees as a turn-off, she doesn't mind them. For McIntyre, the condo fees aren't necessarily a turn-off. It means less competition, she noted: "A lot of people don't like condos so they're a little easier to get. If she's not purchasing a condo, where the maintenance and utilities are covered, McIntyre prefers to have two to four units.

Persons: Zeona McIntyre, she's, McIntyre, —, they've Locations: Boulder , Colorado, Boulder

☆ A property investor in Boulder who went from a college student with zero savings to financially independent explains how she used Airbnb as 'real-estate training wheels' to get started
▼ + stars: | 2023-08-01 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

But she was able to get her foot in the door by starting with Airbnb and renting her apartment. Eventually, the money she made doing short-term rentals helped her afford her first property. But it wasn't enough to build up savings of any kind, let alone buy a property of her own. She wouldn't have had the confidence to buy an investment property had she not started with Airbnb, she noted. That said, "a lot of states are still allowing people to do short-term rentals," she explained.

Persons: Zeona McIntyre, Airbnb, McIntyre, I'd, I've, It's, wasn't, there's Organizations: New, Airbnb Locations: New York City, Boulder , Colorado, Boulder, Airbnb, That's, Honolulu, Aspen , Colorado

☆ Top 10 places in the U.S. to buy a vacation home based on the rate of ROI
▼ + stars: | 2023-07-31 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Buying property is a significant investment and — some experts say — one of the best decisions you could make right now, especially if you plan to use the space to bring in some extra income. Vacation rental management platform Vacasa released exclusively to CNBC Make It, its new ranking of the best places to buy a vacation home based on the capitalization rate also known as the rate of return on investment. To determine the ranking, Vacasa did the following:Analyzed home sales and vacation rental performance data from the last 12 monthsUsed actual performance data for the market as a whole, where available, to determine average gross rental incomeConsidered the averages of the following in each market: property taxes, utilities, HOA fees, insurance, and property management fees to calculate the average cap rateIt's important to note that Vacasa suggests buyers check local regulations before buying a vacation home that they plan to use as a rental property because different places have their own rules about renting.

Persons: Vacasa Organizations: CNBC

To calculate 28% of your monthly income, multiply your gross monthly income (that's your income before taxes) by 0.28. If you like to spend a large chunk of your paycheck on traveling, for example, a large monthly mortgage payment might not fit into your lifestyle. 1,000 ÷ 5,000 = 0.2To get a conventional mortgage, the maximum DTI you can have is typically 50%, including your proposed monthly mortgage payment. How much house can I afford frequently asked questionsHow much do you have to make a year to afford a $400,000 house? Mortgage interest rates can have a big impact on how much house you can afford.

Persons: you've, You'll, it's, Freddie Mac, Fannie Mae, you'll, homebuyers Organizations: National Association of Insurance, PMI Locations: Chevron, Arkansas, North Carolina

☆ The US Marine Corps' deadliest sniper might never have become one if it weren't for a wild night of drinking and a fake toothache, new book reveals
▼ + stars: | 2023-06-24 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +7 min

The deadliest sniper in Marine Corps history is Charles "Chuck" Mawhinney. But even as a Marine, Mawhinney couldn't completely shake his reckless behavior, and a night of drinking cost him his chance to be an aviator. Charles Mawhinney Marine CorpsThe night before an 8 a.m. exam to qualify for aviation training, Mawhinney's friends invited him to get tattoos. Mawhinney qualified for entry into the Marine scout sniper course because he'd already earned distinction as an expert marksman. Mawhinney Courtesy photoIn the middle of this particular dilemma, Mawhinney learned that a Marine sniper with Lima 3/5 needed a spotter.

Persons: Charles, Chuck, Mawhinney, —, Chuck Mawhinney, Jim Lindsay's, he'd, Charles Mawhinney, Mawhinney's, Lindsay, It's Organizations: Marine Corps, Service, Marines, Charles Mawhinney Marine Corps, Marine, Remington, Combat Valor Locations: Vietnam, Lima

☆ The Vietnamese American Artists Searching for Identity
▼ + stars: | 2023-06-23 | by ( Joshua Glass | ) www.nytimes.com time to read: +2 min

An-My Lê can barely recall the Hawaiian shirt that the blond American wore when he put her into a black cargo van. When dawn broke, she took one last glance at the landscape through the windows of the American C-130 aircraft as it disappeared into the clouds. Complicated emotions of uncertainty and anger, guilt and abandonment all intersect for artists from Lê’s generation; those who are not fully Vietnamese in Vietnam nor American in America. Shrouded in war, these Vietnam-born American artists use their memories not so much as a political protest as an emotional inquiry, through the generational traumas that have plagued their families since the day they left home. And only now are Western institutions finally giving these displaced artists room to engage with these traumas.

Persons: Nam, Lê Organizations: Communist, Western Bloc, Air Base Locations: Saigon, South Vietnam, Laos, Cambodia, Việt Nam, United States, Republic of Vietnam, Vietnam, America

☆ What Is a Jumbo Mortgage, and How Do You Get the Best Rates?
▼ + stars: | 2023-06-21 | by ( Beth Decarbo | ) www.wsj.com time to read: +9 min

What is a jumbo mortgage? Do jumbo loans come with jumbo mortgage rates? Many times, jumbo rates are lower than those for conforming loans, in part because the stringent requirements to qualify for a jumbo loan lessen the risk that borrowers will default. Tips to save on a jumbo loanWith some savvy strategies, house hunters in need of a jumbo mortgage can reduce their costs. Chase, for example, offers the highest jumbo limits (up to $9.5 million), which is one of the reasons it is Buy Side’s pick for best jumbo mortgage lender.

Persons: Beth DeCarbo, Fannie Mae, Freddie Mac won’t, Greg McBride, ”, Jacob Channel, Andy Wagner, Wagner, Bankrate’s McBride, Michael P, aren’t, Lani, —, Guy Cecala, ” Cecala Organizations: New, Federal Housing Finance Agency, Government, Jumbo, Nations Lending, ARM, American Mortgage Resource Inc, Inside Mortgage Finance, Bank of America, Chase, Mortgage Finance Locations: Minneapolis, Sacramento, CA, Denver, Boston, San Diego, New York City, Jackson, Chicago, Massachusetts, Wells, Fargo

While buying a house can set you up for financial success, renting comes with its own benefits, like flexibility. If you can't afford a down payment or monthly payments, you may want to continue renting for now. Homeownership also costs more than just the monthly mortgage payment. This includes your mortgage, property taxes, mortgage insurance, homeowners insurance, and HOA fees, but not costs like utility bills. If monthly mortgage payments would be a financial strain, it could be better to keep renting for now.

Since the value of a home isn't guaranteed to go up, it's important to build wealth in other ways. Buying a home comes with long-term costs, but it's also a chance to plan for long-term goals. Compare rates On Rocket Mortgage's website Compare rates On AmeriSave Mortgage Corporation's website Compare rates On New American Funding's website1. Property isn't guaranteed to go up in valueIn the past, buying property was viewed as a way to build wealth and a cornerstone of the American dream. This taught me that a condo isn't a guaranteed appreciating asset.

☆ 10 states where homeowners put the most money toward housing costs—No. 1 isn't New York or California
▼ + stars: | 2023-05-17 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

It compared median income in each state to housing costs, which included mortgages, taxes, insurance, utilities and HOA fees. The analysis used 30% since it's a common benchmark for housing costs in a monthly budget. Known as the "30% rule," financial planners typically recommend putting no more than 30% of household income toward housing costs. While the median income in these states is significantly higher than the bottom-ranked states, housing costs are also elevated. As with fourth-ranked Rhode Island, there's a limited amount of land to develop in Hawaii, which has pushed up housing costs.

It's possible to buy a house with bad credit, but you may end up with a high mortgage rate. Unlike conforming mortgages, which require a good credit score to qualify, loans that are available to those with lower credit scores typically have higher mortgage rates. You can also use our guide to the best low credit score mortgage lenders to see which lenders accept borrowers with lower scores. Get copies of your credit reportUnderstanding your credit history is key to understanding what's affecting your credit score. Review your credit report again to see what is impacting your credit score, then take steps to improve it.

Which type of homeowners insurance you need depends in part on the risks to your home. Southwestern Insurance Group founder David Stuart says that homeowner's insurance can provide financial protection to homeowners against unexpected losses or damages to their home and personal property. But since there are several different homeowner's insurance policies a person can choose from, making the decision of which one is right for you might feel overwhelming or confusing. There are eight different types of homeowners insurance plans — here are four ways to decide which one is right for you. Conlin shares that the HO-6 policy usually complements the homeowner's association master insurance policy, which covers the exterior of the property and shared property.

Many people dream of owning a home, but financial planner Nicole Morong believes homeownership is overhyped. Morong encourages people to ask what their true motivations are behind buying a home. Homeownership represents stability, security, and financial success, even though many millennials feel like they'll never reach that milestone. However, financial planner Nicole Morong of Peterkin Financial says buying a home isn't all that it's cracked up to be. It's better financially to invest that money [that I'm saving from renting] than to buy a house."

☆ Davos vs. Milken: Battle of the high-profile conferences
▼ + stars: | 2023-05-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Arguably the biggest financial conference of the year just wrapped in Beverly Hills. Insider's Dakin Campbell, who was on the ground at Milken, has a report on the five biggest topics discussed this year. Dakin's report got me thinking about how Milken stacks up against another high-profile conference: Davos. Milken is also designed, thanks to its namesake, with a keen eye on what the finance industry wants, he added. Click here to read more about the biggest topics being discussed at the Milken Conference.

☆ We moved from Chicago to a laid-back remote island in the South you can only get to by boat. We love it so far.
▼ + stars: | 2023-05-04 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +8 min

In 2022 they moved their family to Daufuskie Island, South Carolina, near the Georgia border. Most Daufuskie Island residents leave their cars on Hilton Head and instead traverse the island by golf cart. Haig PointWe've come to Daufuskie Island five or six times before we decided to move. The ferry travels across the Calibogue Sound between Daufuskie Island and Hilton Head. Nicolle: The water taxi is free for children under 18, and for adults it's $6 each for the first two adults.

Ramsey's listeners call in and, after describing how they paid off their debt by following Ramsey's advice, scream, "WE'RE DEBT-FREE." With a non-existent credit score, I couldn't even get approved for a normal credit card. One family member mentioned that Ramsey's advice is to save longer and pay for a house in cash. Meanwhile, he stigmatizes legitimate paths forward, such as having a credit score built on years of responsible credit use. In my own journey to buy a home, I saw clearly that Ramsey's advice is not given with my circumstances — or my success — in mind.

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