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☆ Real estate expert explains why 'buying a home is a liability' — and how to figure out if you should rent or buy
▼ + stars: | 2023-10-20 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

If you're financing the home, you're going to be paying a mortgage, he pointed out: "Yes, you are paying down principal." But, at the end of the day, a monthly mortgage payment is an expense. Of course, rent is a monthly expense as well, which begs the question: Do I rent or buy? "You're paying down a mortgage with rental income, not the cash out of your pocket. To achieve financial freedom, Beliveau stresses getting your first "rental asset" — not just your first rental unit.

Persons: it's, Ricky Beliveau, Beliveau Organizations: V10 Development

☆ Trump trial tantrum: "No!" a Trump lawyer sniped after an AG lawyer demanded, "Be more respectful!"
▼ + stars: | 2023-10-19 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Tempers flared Thursday during a heated sidebar discussion at Trump's fraud trial in New York. AdvertisementAdvertisementAttorney tempers flared Thursday at the Trump civil fraud trial in New York, where a quiet sidebar discussion erupted into cross-accusations of rudeness and disrespectfulness. a lawyer for state Attorney General Letitia James could be heard telling Donald Trump's lead lawyer, Christopher Kise. Kise, the former president's lawyer, kicked off the sidebar by protesting that such a search would potentially derail the trial, the sources said. On Wednesday, lawyers for both sides raised their voices during a heated dispute over a former Trump property appraiser's testimony.

Persons: —, Letitia James, Donald Trump's, Christopher Kise, Colleen Faherty, Arthur Engoron, Kise, Allison Greenfield, Michael Cohen, Faherty, Trump Organizations: Service, Trump, Manhattan, New, Trump Organization, AG Locations: New York

☆ Tempest in a triplex: Trump accused of failing to turn over fraud-trial documents relating to his NY penthouse
▼ + stars: | 2023-10-19 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

A civil fraud trial, at which Trump risks being banned from doing business in NY, is in week three. Evidence 'omissions' include emails to Forbes concerning the worth of Trump's NY penthouse. AdvertisementAdvertisementThe Trump Organization may have failed to turn over fraud-trial evidence relating to the size of Donald Trump's triplex penthouse, New York officials alleged on Thursday, in demanding a new "forensic" search of the company's business records. "In some instances, it's been pulling teeth to get documents," Wallace complained during a hearing in April of last year. But these had not been turned over by the Trump Organization, the letter said.

Persons: —, Donald Trump's, –, Forbes, Letitia James, James, Barbara Jones, Kevin C, Wallace, Arthur Engoron, Trump, week's Forbes, Allen Weisselberg, Weisselberg Organizations: Trump, Forbes, Service, Trump Organization, Trump Org, New York, The Trump Organization Locations: NY, New York, Trump, Manhattan

☆ Trump trial tantrum: "Be more respectful!" an AG lawyer shouted, to which a Trump lawyer sniped, "No."
▼ + stars: | 2023-10-19 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Tempers flared Thursday during a heated sidebar discussion at Trump's fraud trial in New York. AdvertisementAdvertisementAttorney tempers flared Thursday at the Trump civil fraud trial in New York, where a quiet sidebar discussion erupted into cross-accusations of rudeness and disrespectfulness. a lawyer for state Attorney General Letitia James could be heard telling Donald Trump's lead lawyer, Christopher Kise. In the letter, the state accused the Trump Organization of failing to turn over emails concerning Trump's triplex apartment. Kise, the former president's lawyer, kicked off the sidebar by protesting that such a search would potentially derail the trial, the sources said.

Persons: —, Letitia James, Donald Trump's, Christopher Kise, Colleen Faherty, Arthur Engoron, Kise, Allison Greenfield, Michael Cohen, Faherty Organizations: Service, Trump, Manhattan, New, Trump Organization, AG Locations: New York

☆ Trump Org CFO Allen Weisselberg testifies it's a 'coincidence' that Trump is paying him $2 million severance
▼ + stars: | 2023-10-12 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Ex-Trump CFO Allen Weisselberg, a key fraud witness, resumed his trial testimony in NY on Thursday. His $2 million severance matches a fine he paid after keeping Trump safe in a 2022 tax-fraud trial. The witness, former Trump Organization CFO Allen Weisselberg, is almost half-way through collecting the installments of a two-year, $2 million severance package, testimony has already shown. after a New York trial in which a prosecutor accused him of shading the truth on Trump's behalf. The attorney general is seeking to bar Trump and Trump Organization from ever running a business in New York again.

Persons: Allen Weisselberg, Letitia James, Trump, —, general's, Donald Trump, Weisselberg, Louis M, Solomon, James, Jeffrey McConney, Arthur Engoron Organizations: Trump, Service, Trump Organization, Trump Org Locations: NY, York, Manhattan, Trump, New York

☆ A 36-year-old real estate investor who owns hundreds of units acquired his first property months after graduating college. He shares the strategy he used to live for free in his first home.
▼ + stars: | 2023-10-12 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

As a college senior in 2010, Ricky Beliveau wrote a paper about how to invest in multi-family real estate. Six months after graduating, he used his capstone project as a blueprint to actually purchase a multi-family unit himself. He quit his day job in 2015 to go all-in on real estate. Today, at 36, he runs several real-estate related businesses, including Volnay Capital and EVO Real Estate Group. Consider what real estate investor Todd Baldwin did at the beginning of his career.

Persons: Ricky Beliveau, —, she'd, Beliveau, he'd, Todd Baldwin, Baldwin, it's Organizations: Northeastern University, Volnay Capital, EVO Real Estate Group Locations: Boston, Seattle , Washington

☆ A real estate developer who owns hundreds of units says the key to financial freedom is getting over the hurdle of buying your first rental property — and shares 2 strategies for getting started
▼ + stars: | 2023-10-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

His senior year of college, he enrolled in a real estate finance class and started learning about various property-investment strategies. He was particularly interested in multi-family real estate and focused his capstone project around it. By 2015, his real estate investing business reached a point of profitability where he felt comfortable quitting his finance job. Getting into real estate in today's market is "very hard," he said matter-of-factly. To achieve financial freedom, Beliveau stresses getting your first "rental asset" — not just your first rental unit.

Persons: Ricky Beliveau didn't, Beliveau, I'd, Ricky Beliveau, it's, didn't, It's Organizations: Volnay Capital, Wellington Management, Northeastern University Locations: Connecticut, Boston, today's

☆ Allen Weisselberg, Trump's loyal ex-CFO, calls tripling the size of Trump's penthouse in financial records a 'minor' mistake
▼ + stars: | 2023-10-10 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Trump's loyal ex-CFO, Allen Weisselberg, began court-ordered testimony in the NY civil fraud trial. On the stand Tuesday, Weisselberg called tripling the size of Trump's penthouse a "minor" mistake. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisement"I don't recall," Weisselberg answered. Asked if, once put on the alert by Forbes, he ever thought to quickly and conveniently check the files right outside his door, Weisselberg answered, "I don't recall."

Persons: Trump's, Allen Weisselberg, Weisselberg, —, Letitia James, Donald Trump's, Trump, James, Louis M, Solomon, Forbes, Donald Trump , Jr, Eric Trump –, Arthur Engoron, Engoron Organizations: Service, New York, Trump Organization's, Trump Org, Forbes, Deutsche Bank, Trump, New Locations: Manhattan's, Manhattan, Trump, New York

☆ Trump, fraud, and minding the GAAP: A guide to the accounting rules at the heart of his NY trial, courtesy of 2 standup comics who happen to be CPAs
▼ + stars: | 2023-10-09 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

Trump's $250M fraud trial hinges on whether he followed generally accepted accounting principles. AdvertisementAdvertisementTrying to follow the Trump Organization civil fraud trial but don't understand all the quacking about "GAAP, GAAP, GAAP" — those wonky, "generally accepted accounting principles" at the heart of the trial? Donald Trump leaves his civil fraud trial in New York on its third day of testimony. "I know Trump would like to see them 'wiggle, wiggle, wiggle' for sure," she added. AdvertisementAdvertisementTrump's civil fraud trial begins its second week on Tuesday.

Persons: —, Donald Trump, Donald Trump , Jr, Trump, Letitia James, Donald Trump's, Tammara Buckey, Buckey, Buckley, Missy Hydrick, Steve Gianturco, He's, Stevie GB, Brendan McDermid, Gianturco, Seth Wenig, FASB, Fabio, James, Jason Derulo Organizations: Service, Trump Organization, New York, Trump, NY, CPA, Federal, Accounting Locations: Huntsville , Alabama, Long Island , New York, New York, York, Manhattan's

☆ Real estate insiders question how Trump fraud judge valued Mar-a-Lago
▼ + stars: | 2023-10-03 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN Business —A New York judge ruled last week that former President Donald Trump inflated the value of his Mar-a-Lago estate by an eye-popping 2,300%. But the Mar-a-Lago finding in particular is raising eyebrows among real estate and legal experts because of the metric Judge Engoron relied on: the county tax assessor’s appraisal value. It’s a well-known fact,” said Eli Beracha, chair of the school of real estate at Florida International University. “A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engoron wrote. Cintron, the Harrington Ocko & Monk partner, doesn’t think the Mar-a-Lago valuation controversy moves the needle on the question of whether Trump committed fraud.

Persons: Donald Trump, Trump, Arthur Engoron, Engoron, ” Engoron, ”, Eli Beracha, “, ” Dina Goldentayer, Douglas Elliman, ” Goldentayer, Goldentayer, Zillow, ” It’s, Jonathan Miller, Miller Samuel, ” Miller, Melissa Cintron, Harrington Ocko, Monk, it’s “, Miller, Christopher Kise, ” Trump, Letitia James, Cintron, Harrington, doesn’t, he’s, ” Cintron, CNN’s Anna Bahney Organizations: New York CNN Business, Trump, Florida International University, Miller Samuel Inc, Harrington, Mar, realtors, South, New York Locations: York, Beach, South Florida, New York City, “, Springs, Westchester County , NY, Aberdeen, Scotland, Trump

☆ Analysis: New trial hits Trump's image as the ultimate winner
▼ + stars: | 2023-10-03 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

But the fraud case in New York threatens to shred Trump’s cherished self-image as an ultimate winner. Just so you know, my financial statements are phenomenal,” Trump said before the trial opened. “They’re hitting him where it hurts,” one source told CNN’s Kaitlan Collins about Trump’s decision to attend the trial on Monday. Trump’s bluster and political showmanship are proven to work, as his huge lead in the GOP presidential primary shows. But Trump’s legal fate in this and all the other cases will not be decided on campaign trails but in courtrooms.

Persons: ” Donald Trump couldn’t, “, ” Trump, Trump, NBC’s “, spurning, ” Alina Habba, Trump’s, They’re, CNN’s Kaitlan Collins, Letitia James –, ” James, James, ”, Arthur Engoron, It’s, Eric, “ They’re, Trump’s bluster, won’t, James ’, Engoron, –, Chris Kise, ” Habba Organizations: CNN, It’s, Service, NBC’s, Force, Trump, New, Trump Organization, White, Democrat, HBO, GOP, Justice Department, Mar, titans Locations: New York, Manhattan, Iowa, Lower Manhattan, Trump, Georgia, Florida, Lago , Florida

☆ Will the Trumps lose their homes? NY judge who dissolved Trump Org is cryptic at a tense hearing
▼ + stars: | 2023-09-27 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Trump's lawyers were back on Wednesday before the NY judge who on Tuesday "dissolved" Trump Org. One asked the judge if the LLCs that own the Trumps' homes are covered under the dissolution. But concern – including over the fate of the Trump residences that are held as LLCs under the Trump Org umbrella – was present in abundance. At Wednesday's morning-long hearing, the judge gave Trump's side the 30 days they requested to agree to a receiver. 'You have New York entities that just own a house or a townhouse.

Persons: I'm, —, Donald Trump, Trump, Arthur Engoron, Engoron, Letitia James, Barbara Jones, general's, Chris Kise, Don Jr, Kise, I'd, Judge Jones Organizations: NY, Trump, Service, Trump Organization, Trump Org, York, New York, Trump Tower Locations: Manhattan, New York, York

☆ A 30 year old who built up a net worth of more than $1 million and quit his day job says he primarily invests in 2 types of funds — and explains why he diversifies with real estate instead of bonds
▼ + stars: | 2023-09-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

He quit his day job in March 2022 to build his personal finance brand, Defining Wealth, and coaching business full-time. The 30 year old shared his investment strategy, including the types of funds he invests in and why he prefers buy-and-hold real estate. Most of his stock-market money is invested in two types of funds, he told Insider: a broad US fund and a broad international fund. He started investing in real estate in 2018 in Orlando, Florida, where he lived at the time. What Wright likes about investing in real estate is that "you're buying an asset that's producing income," he said.

Persons: Tyler Wright, I'd, Wright, I've, Tyler Wright Wright, I'm, he'd Organizations: University of Central, Vanguard, Fidelity, Index Fund, Facebook, Google, Apple Locations: University of Central Florida, cryptocurrency, Nashville, Orlando , Florida, Orlando, Tennessee

☆ A real-estate investor who's written multiple books shares 2 ways to build wealth through rentals — including one that can deliver financial independence in 15 years
▼ + stars: | 2023-09-27 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

Sort of like in the '90s, the trend was to sell workout equipment that was easy to use," said Greene, who says he owns rental properties in several states. Last week, Greene shared with Insider two tips from his book that new investors can follow build wealth. 2 'incredibly simple' strategiesThe first is house hacking, or renting out part of the property you live on to a tenant. When the second property is paid off, you can then pull equity out of that one, and so on. "You'd just live off of the money that pull out of your properties if you work really hard for 15 years."

Persons: David Greene doesn't, Greene, aren't

CNN —A New York judge has found Donald Trump and his adult sons liable for fraud, saying the Trumps provided false financial statements for roughly a decade. Judge Arthur Engoron’s ruling came days before the civil case involving the New York attorney general’s office and the former president was set to go to trial. Engoron granted Attorney General Letitia James’ motion for summary judgment, finding Trump, his sons, and others “to be liable as a matter of law for persistent violations” of New York state law. He found the financial statements the Trumps provided to lenders and insurers for about a decade to be false and said they repeatedly engaged in fraud. In the order, the judge rejected Trump’s deposition testimony in which the former president said that the financial statements were not fraudulent because they contained disclaimers.

Persons: Donald Trump, Judge Arthur Engoron’s, Engoron, Letitia James ’, Trump, ” Engoron, “, Chico Marx, Christopher Kise, ”, Eric Trump, ” James, Trump’s, James Organizations: CNN, New, Trump, “ Locations: York, New York, Mar, Seven Springs, Trump, Chico

☆ Donald in Wonderland: lawyers for New York and Trump trade 'looking glass' jabs ahead of business-fraud trial
▼ + stars: | 2023-09-22 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Lawyers for New York's attorney general and Donald Trump sparred in a Manhattan courtroom Friday. AdvertisementAdvertisement"The defendants have clearly stepped through the looking glass," Amer told the judge, New York Supreme Court Justice Arthur Engoron. AdvertisementAdvertisement"We're through the looking glass here, too," Kise, who Trump has paid a $3 million retainer, promised the judge. AdvertisementAdvertisementNew York AG Leticia James' lawsuit against Trump will go to trial in October. AdvertisementAdvertisementShe's also asking the judge to ban Trump and Trump Org for five years from buying real estate in the state.

Persons: Donald Trump sparred, Trump, Donald Trump, Letitia James, Andrew Amer, Amer, Arthur Engoron, James, –, Christopher Kise, Trump's, Kise, general's, I'm, AG Leticia James, YUKI IWAMURA, Mario Tama, He'll, he'll, She's Organizations: New, Service, AG, Trump, Getty, Trump Organization, Trump Org Locations: Manhattan, Wall, Silicon, New York, AFP, Springs, Trump

☆ A 32-year-old set aside 78% of her income for 5 years and saved $200,000. She explains why she abandoned the FIRE movement and decreased her savings rate to 10%.
▼ + stars: | 2023-09-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

"I thought, 'Oh, this is just how all work is,'" said Merz — and it wasn't for her. Like many super savers Insider has spoken to, Merz focused on lowering three main expenses: housing, transportation, and food. Merz, a "recovering super saver," used to save up to 78% of her income. Merz currently contributes 10% of her income to her 401k, "and that's about as much saving as I do," she said. A 10% savings rate will still allow her to retire in her mid-50s, she said, since she has such a big head start on savings.

Persons: Gwendolyn Merz's, Merz —, wasn't, Merz, Gwendolyn Merz Merz, maxing, Roth, Gwendolyn Merz, I'm, she'd, I've, St . Louis, She's Organizations: Independence, CSA, Roth IRA, Washington DC Locations: Illinois, Pontiac, Midwest, Washington, St ., —

☆ New York says Trump inflated net worth by up to $3.6 billion; Trump seeks dismissal
▼ + stars: | 2023-09-08 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Former U.S. President Donald Trump departs from Trump Tower to give a deposition to New York Attorney General Letitia James who sued Trump and his Trump Organization, in New York City, U.S., April 13, 2023. In a filing with a New York state court in Manhattan, Attorney General Letitia James said her valuation and accounting experts believe Trump falsely boosted his net worth by between $1.9 billion and $3.6 billion a year over a decade. The attorney general wants a $250 million fine, and to bar Trump and his sons Donald Trump Jr. and Eric Trump from leading their family business, the New York City-based Trump Organization. Citing her experts, James said Trump may have inflated his net worth by $3.5 billion to $3.6 billion every year from 2014 to 2019, the last three while Trump was in the White House. The New York civil case is New York v Trump et al, New York State Supreme Court, New York County, No.

Persons: Donald Trump, Letitia James, Trump, Mike Segar, James, Donald Trump Jr, Eric Trump, Arthur Engoron, Democrat Joe Biden, Engoron, Jonathan Stempel Organizations: U.S, Trump Tower, New York, Trump Organization, REUTERS, Trump, New, Lawyers, libeled, Democrat, TRUMP, Court, Thomson Locations: New, New York City, U.S, New York, Manhattan, Lago, Florida, midtown Manhattan, Court , New York County

☆ Trump's Top 5 defenses in his massive NY financial fraud case, in his own words
▼ + stars: | 2023-09-03 | by ( Laura Italiano | ) www.businessinsider.com time to read: +17 min

AdvertisementAdvertisementHere are Trump's top five business fraud defenses – in his own words – as revealed in a recently-unsealed deposition transcript. New York attorney general's officeTrying to pass the blame won't work, two attorneys who used to work for previous New York attorneys general told Insider. And you're suing them instead of going after violent criminals," he scolded the attorney general and her lawyers. Then there's the $250 million Trump allegedly pocketed by lying about the size of his collateral. 3: his math is "worthless"At the center of the attorney general's case are a decade's worth of Trump's Statements of Financial Condition.

Persons: Trump, Donald Trump, Letitia James, James, Andrew S, Amer, Kevin C, Wallace, Brittainy Newman, Eric, I've, Mazars, We're, I'm, general's, Kenneth Foard McCallion, Tristan Snell, –, Susan Watts, they'd, Snell, McCallion, Donald Trump's, Laura Italiano, Kathy Willens, Jennifer S, Altman, Carlo Allegri, John Minchillo, Drew Angerer, George Washington, Jack Nicklaus, Tom Watson, He's Organizations: Trump Org, Service, York, New York State, New York, AP Trump, Trump Organization, New, Trump University, Trump, Deutsche Bank, NY Daily, Getty, Associated Press Deutsche Bank, McCallion, Associates, Washington, MSNBC, Reuters, U.S, Marriott Marquis Locations: NY, Wall, Silicon, Manhattan, New York, Trump's, Trump Tower, Manhattan , NY, . New York, Trump, New York City, Springs, Westchester County , New York, Mount Kisco, N.Y, Washington ,, Miami

☆ New York says Trump should be found liable for fraud, even before a trial
▼ + stars: | 2023-08-30 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

$250 MILLION SOUGHTJames filed her lawsuit last September, accusing Trump of lying about property values, including for his Mar-a-Lago estate in Florida and Trump Tower penthouse apartment in Manhattan, and his own net worth. The attorney general is seeking at least $250 million from Trump, his adult sons Donald Jr. and Eric, the Trump Organization and others, and to stop the Trumps from running businesses in New York. A trial before state Supreme Court Justice Arthur Engoron is scheduled for Oct. 2. The New York civil case is New York v Trump et al, New York State Supreme Court, New York County, No. Reporting by Jonathan Stempel in New York; editing by Jonathan Oatis and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Evelyn Hockstein, Letitia James, Trump, James, Donald Jr, Eric, Arthur Engoron, Jonathan Stempel, Jonathan Oatis, Leslie Adler Organizations: Fair, REUTERS, Wednesday, state's, Trump, Trump Organization, Republican, Democratic, New, New York, Court, Thomson Locations: Iowa, Des Moines , Iowa, U.S, Manhattan, Lago, Florida, New York, New, Court , New York County

☆ 2 millennials who have bought a combined 22 properties with friends and family explain how they got into real estate without waiting on a spouse
▼ + stars: | 2023-08-29 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Two millennials who bought homes with friends say "houses before spouses" is the way to go. They bought a beach house, lake home, and ranch house with friends, which they use for vacations. Since then Modares has purchased eight properties with friends and family that have variously served as rental properties and primary residences. Modares and Douglass run a "buying with friends" minicourse to encourage clients to explore less-conventional real-estate partnerships. AdvertisementAdvertisementThe critical part of homebuying with friends, they said, is the operating agreement, which outlines the terms and conditions of a real-estate partnership.

Persons: Kristina Modares, didn't, Modares, Steph Douglass, Douglass, minicourse, they're, homebuying Douglass, Austin's, She's, they've, that's, she'd, she's, — Douglass, they'd Organizations: Service, Open House Austin, Nationwide Locations: Wall, Silicon, San Antonio, Austin, Florida, homebuying, Airbnb

☆ TikTok influencers want to rent you a very cool home. Just don't call them landlords.
▼ + stars: | 2023-08-16 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

While live-in landlords are far from a novel concept, the pandemic-era fever around passive income and real-estate investing has sparked a rise in the popularity of house hacking. While Turner's initial strategy emphasized small multifamily buildings, some house hackers applied the concept to single-family homes. In 2019, he published a book called "The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom." And I think house hacking is one obvious way to eliminate, or at least drastically reduce, what likely is your largest expense." "Yeah, it's called 'house hacking," the owner and roommate, also played by Jarman, who has 4 million followers, replies.

Persons: Kelly Clark, Clark, scoffed, TikTok, Zers, Brandon Turner, Turner, Ryan Lehman, Lehman, Brandon, I'm, Craig Curelop, BiggerPockets who's, Curelop, influencer Addison Jarman, renter, it's, Jarman, Jay Parsons, John Liang, TikToker, Liang, —, It's, doesn't, Insider's Daniel Geiger, she'd, James Rodriguez Organizations: Federal Housing Administration, BiggerPockets, Census, YouTube, RealPage Locations: Spokane , Washington, Silicon, millennials, Seattle, Spokane

☆ 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

☆ The battle over short-term rentals is heating up in Montana. 4 locals share which side they're on and why.
▼ + stars: | 2023-06-23 | by ( Dan Latu | ) www.businessinsider.com time to read: +9 min

The number of short-term rentals in Bozeman, Montana, nearly doubled between 2020 and 2023. The number of short-term rentals in town nearly doubled during the pandemic, according to analytics site AirDNA. Finegan said banning short-term rentals is "one of the most impactful things in our control" to create more affordable housing for locals. He dismissed banning short-term rentals because of rowdy or unclean guests, calling those arguments a "red herring" often drawn up against hosts. Larsen said she would support a ban on whole-home short-term rentals.

Persons: —, Bozeman, Benjamin Finegan, Finegan, Angas Reid, Michael Rutkowksi, Rutkowski, he's, Jason Ridgway, Ridgway, it's, Reid, there's, Angas Reid Ridgway, Wynona Larsen, Larsen, " Larsen, she'll, she's Organizations: Service, Time Magazine, Bozeman Tenants United, Bozeman, Walmart Locations: Bozeman , Montana, Bozeman, Aspen, Atlanta , U.S, Airbnb, Paradise, Montana, Livingston , Montana, Livingston

☆ A real-estate investor who spent a year talking to former landlords who lost money and had to sell their properties says their one major mistake was refusing to raise rent. He shares the strategy he u
▼ + stars: | 2023-06-07 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

McNeeley's 'binder strategy' allows him to increase rent, while still maintaining happy tenants. 'The binder strategy': asking tenants to increase their own rentMcNeeley's "binder strategy" involves sitting down with his tenants, explaining what the average rent prices in the area are, and ultimately asking them to set a fair price. The first page of the binder features a picture of the property they're renting and the amount McNeeley paid for it. "The tenants asked for more than a $300 increase because it's still below the area average and they're still getting a deal," McNeeley said. Typically, McNeeley employs the binder strategy when he acquires a new property and then does a 5% rent increase every other year.

Persons: Dion McNeeley, McNeeley, that's, he'll, they're, It's, He's, he's, handymen, they'd, I've Organizations: McNeeley Locations: Tacoma , Washington, Washington, McNeeley's

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