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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
After selling my home and moving to New York, I've found renting to be a better fit for my lifestyle. I'm not saying that owning a home, or the desire to be a homeowner, is a bad thing. Here are four reasons why I am actually benefiting from being a renter right now — and why it's not a waste of money:1. For now, not having a mortgage and maintenance costs has put more money in my savings account, which brings to my next point. My savings account is easily accessible if I need it or the unexpected happens.
Persons: I've, I'm, it's Organizations: Service Locations: New York, Wall, Silicon, New York City
Gia Mora, an electric-vehicle enthusiast, went on a 1,000-mile road trip in a Tesla Model 3. Gia MoraWe decided to rent a longer-range electric car on Turo, a peer-to-peer car-rental app. Using a key card is different from controlling the car by appMora locks the Model 3 with a key card. Tesla Model 3 one-pedal driving is hard to adjust toBy the end of the trip, Mora felt comfortable driving the Tesla Model 3. Tesla Model 3 is worth the hypeThe Model 3 had a reliable range, accessible charging stations, luxurious seats, and glasslike driving.
Persons: Gia Mora, Mora, Tesla, Amy, Amy Senger, Steve Mandzik, Amy Senger Amy, Mora sips, San Luis Obispo, Senger, we'd, I'd, would've Organizations: Tesla, Nissan, Fiat, John Wayne Airport, Turo Locations: Northern California, San Ardo , California, Orange County , California, Orange County, Los Angeles County, Salinas, Santa Barbara, San Ardo, San Luis, San Luis Obispo , California
My friends and I aren't sure how the climate crisis will affect our retirement, only that it will. Another friend replied, "Well, the good thing about climate change is that it gives me a reason to move." The climate crisis will also affect homeowner's insurance. It's hard to know where to retireAs for where to settle down in my retirement, the climate crisis throws in another wrench. While a lot remains unknown about the effects of climate change, I've resolved to stick to a retirement savings plan.
Persons: that's, it's, It's, haven't Organizations: Service Locations: Wall, Silicon, West Coast, Pacific Northwest , Utah, Florida, Nashville , Tennessee, California, Southern California, Arizona
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
I wasn't able to get renters insurance a few years ago, but now I can bundle it with my car insurance. Being in quarantine with nowhere to go meant that switching from a standard car insurance policy to a pay-per-mile one saved me hundreds each year in insurance. However, I was reluctant to switch back to a standard car insurance policy. Here's why I found it helpful to go over my car insurance policy, and why I'll be reviewing my insurance regularly. Sure, there are more exciting things to do than pore over car insurance policy quotes, I'm glad I took the time to shop around for car insurance.
Persons: I'm, I've, haven't, It's Organizations: Service Locations: Wall, Silicon, Southern California
Some people have taken to renting out SpaceX Starlink kits on Facebook Marketplace. One startup CEO said he'd found a renter that was making $5,000 a month renting out seven devices. People are taking to Facebook Marketplace to rent out SpaceX's Starlink satellite internet for vacationers and remote workers. Facebook MartketplaceInsider identified over a dozen Starlink rental listings on Facebook Marketplace with prices ranging from $25 to $35 per day. Facebook Marketplace isn't the only place people are attempting to turn Starlink into a side hustle.
Persons: he'd, Austen Allred, Allred, Thomas Sands, McKenzie Coffman, Coffman, PCMag, Elon Organizations: SpaceX, Facebook, Morning Locations: North Carolina
At first, Mr. Chu hesitated. The father-son pair ended up buying a two-bedroom condo in the Sherman Oaks neighborhood for $600,000. Mr. Chu poured his savings into the purchase, covering around 5 percent of the cost; his father put up the rest. The way Mr. Chu sees it, the past plays an enormous role in the lucky position he occupies in the present. “When it comes to cold, hard numbers, I think it is really helpful to be transparent,” Mr. Chu said.
Persons: Chu, Mr, , , He’s Organizations: Sherman Oaks Locations: Sherman, Hong Kong, United States, Seattle
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
Learn about the best real estate investing apps »Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. 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. You can invest in REITs, or real estate investment trusts. Start investing in realestate with a real estate investing platform »
Persons: We're, isn't Organizations: Service Locations: Wall, Silicon, Boston
I assumed I didn't need renters insurance if I didn't have expensive things in my home. But I was wrong — renters insurance covers many costs that mattered to me then. Most renters insurance policies have personal property coverage, which covers stolen belongings up to a certain limit minus the deductible. Most renters insurance policies cover water leaks from a broken pipe, so the damage would have been covered. Most renters insurance includes liability insurance, which covers payment if someone gets hurt on your property.
Persons: couldn't Organizations: Service Locations: Wall, Silicon, New York City
“There is a pretty foundational bias against renters in American sociological and political life,” said Jamila Michener, a professor of government and public policy at Cornell. But the number of renters has grown steadily over the past decade to about 44 million households nationwide, while punishing housing costs have migrated from coastal enclaves to metropolitan areas around the nation. More salient to politicians, perhaps, is that renters are increasingly well-off — households that make more than $75,000 have accounted for a large majority of the growth in renters over the past decade, according to the Harvard Joint Center for Housing Studies. At the same time, the struggle to find something affordable has escalated from lower-income tenants to middle-income families that in past generations would very likely have owned their homes. In other words, renter households are now composed of families much more likely to vote.
Persons: , Jamila Michener, Organizations: Cornell, Harvard Joint Center for Housing Studies
The Biden administration is trying to crack down on hidden apartment rental fees. As part of the initiative, major rental platforms will show the total cost of units, not just the rent. As part of the Biden administration's ongoing initiative to crack down on junk fees, the White House has a new target: Rental fees. On Wednesday, the Biden administration announced a slew of new measures to help ensure that renters aren't burdened with surprise fees while trying to find a new place, or after they move in. Now, prospective renters will be able to see the total cost of an apartment when they peruse three major platforms — Zillow, Apartments.com, and AffordableHousing.com.
Persons: Biden, Joe Biden doesn't, Zillow Organizations: Service, White, Ticketmaster Locations: Wall, Silicon
Personal finance company Wallethub ranked the best places to rent in the US in 2023. It weighed factors like rents, job opportunities, and quality of life in more than 180 markets. A new report from Wallethub identifies where renters can get the maximum bang for their buck this year. "We looked at two things here: rental market affordability and quality of life. So when you're actually looking at rental affordability, that is calculated not only by sheer rent, but then dividing that by median annual household income.
Persons: Jill Gonzalez, Gonzalez Organizations: Wallethub, Service, Census Bureau, Cities aren't, San Francisco Locations: California, Arizona, Kansas, Wall, Silicon, Golden City, Francisco, There's
She was originally more concerned about paying off their combined six-figure student loan debt and felt like they weren't in a stable position to start buying real estate. Start investing in real estate with Yieldstreet »They shared the following pieces of advice:1. I went to the library every week and just checked out all these books on real estate and personal finance," Crystal said. "You don't have to buy real estate to get into real estate," Crystal. Use Fundrise to start investing in real estate with as little as $10 »3.
Persons: Franz, Crystal Espanol's, wasn't, Crystal, it's, You'd, they've, that's Organizations: Crystal Espanol, Service, Invest Locations: Wall, Silicon, Philadelphia, Southern California, California
This relatively new and growing segment of the housing market is called “build for rent” or BFR (or “build to rent” or BTR). Often constructed in suburban areas with low crime and near good schools, BFR homes attract those who want the lifestyle of a house — but the affordability or convenience of renting. Over the past few years, however, large investment groups — like Home Partners of America or Invitation Homes — have got into buying up existing single-family homes to rent. Miller said demand for BFR homes is strong and suit a modern way of living involving remote work, lifestyle moves and delayed homeownership. Even as a small portion of the market, those BFR homes that are being built are not the smaller, more affordable homes that middle-income earners are looking for.
Persons: , David Howard, Howard, , Ben Miller, ” Miller, Miller, Donald Trump’s, homeownership, Bruce McNeilage, ” McNeilage Organizations: DC CNN, National Rental Home, National Rental Home Council, Urban Institute, Home Partners of America, Research, Joint Center for Housing Studies, Harvard University, Kinloch Partners, Survey Locations: Washington, Texas , California , Arizona, Florida, North Carolina, Georgia, BFR, United States, Nashville, Greenville , South Carolina, Yardi
Washington, DC CNN —Renters and homeowners are experiencing inflation differently, according to new data from Bank of America — and, unsurprisingly, renters are taking the hit. Secondly, even if a typical mortgage payment is higher than a typical monthly rent payment, because renters’ income tends to be less than homeowners, more renters put a larger share of their income toward rent than homeowners put toward mortgage payments. Restaurants are the only sector where homeowners and renters are both still showing an increase in spending from last year, and homeowners significantly outpace renters. Even controlling for income — which is necessary because renters tend to have lower incomes than homeowners — renters are showing less spending strength than homeowners in their same income group in most spending categories. Looking ahead, however, this wedge between the spending of renters and homeowners may narrow, the report points out.
Persons: Bank of America —, Freddie Mac’s, , Freddie Mac Organizations: DC CNN, Bank of America, Consumer, Federal Reserve, Joint Center for Housing Studies, Harvard University Locations: Washington
The 10 worst places in the U.S. for renters
  + stars: | 2023-06-29 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com   time to read: +2 min
To determine the best and worst places for renters, RentCafe ranked 136 U.S. cities on metrics ranging from average apartment size to local unemployment rate to influx of new business. While the best cities for renters offer strong local economies and sizeable apartments at reasonable prices, the worst cities for renters leave much to be desired. Detroit is the worst city for renters, the rent comparison website found. Outside of Detroit, however, you'll find most of the bottom-10 cities for renters along the coasts — especially in the Northeast. Here are RentCafe's worst cities for renters.
Persons: RentCafe, , you'll Locations: Detroit
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
What you’ve got to do to get more money from wealth is just let your money go out there and make money on its own. darrick hamiltonYeah, the extent to which our tax code incentivizes wealth and capital growth, it centers on existing wealth and capital growth. $50,000 to the most wealth-poor person seems like a big number, but we need to put that number in context. In other words, wealth begets more wealth, and wealth builds upon itself. ezra kleinI think that’s a great place to end, so I’ll ask our final question.
Persons: ezra klein, we’ve, We’ve, Darrick Hamilton, Biden Sanders, Bernie Sanders, Cory Booker, Ayanna Pressley, darrick hamilton, hamilton, you’re, ezra klein There’s, you’ve, that’s, Thomas Piketty’s, it’s, there’s, ezra klein I’m, , ezra klein We’ve, Bill Gates, Elon, Ezra, Ira Katznelson, Crow, Bill, hasn’t, who’s, I’ve, they’re, ezra klein Let’s, darrick hamilton Naomi Zewde, wouldn’t, Let’s, darrick hamilton Ezra, darrick hamilton I’m, Arthur Lewis, Natalie Diaz, ” Natalie, ezra klein Darrick Hamilton Organizations: The New School, Biden, Task Force, Marshall, Black, Washington D.C, Federal Government, SEED, Oklahoma, Social, Social Security Locations: Hamilton, United States, Prosperity, America, Europe, Tulsa , Oklahoma, Connecticut, Washington, , hamilton
The Harvard Joint Center for Housing Studies released their State of The Nation's Housing report. Harvard Joint Center for Housing StudiesOn top of that, mortgage rates have surged from around 3.3% in early 2022 to just under 7% today. Harvard Joint Center for Housing StudiesBlame that in part on falling building rates. Harvard Joint Center for Housing Studies"The construction slowdown in 2022 raised concerns about the nation's large and ongoing housing shortfall. To boost homeownership rates among minority groups, the researchers also proposed lowering credit score minimums for mortgages and taking into consideration other indicators of creditworthiness that aren't reflected in a credit score.
Persons: it's, homeownership Organizations: Harvard Joint Center for Housing Studies, National Association of Realtors . Harvard Joint Center for Housing, Harvard Joint Center for Housing, Harvard, Center for Housing
In 7 Great Cities, 7 Great Walks
  + stars: | 2023-06-19 | by ( Christine Chitnis | The New York Times | ) www.nytimes.com   time to read: +32 min
Urban Walks In 7 Great Cities, 7 Great Walks The pleasures of strolling through an urban landscape are manifest. Credit... Joann Pai for The New York Times Its organically styled bouquets feel as though they’ve been freshly picked from the garden. Credit... Joann Pai for The New York Times Image Astier de Villatte specializes in antiques and tableware. Three quarters of a mile into the walk, you’ll be standing atop the first of three mountains, the 1,100-foot-high Inwangsan. Credit... Petrina Tinslay for The New York Times Few cities are so abundant with forest-like parks, coastal walks and beaches as Sydney, which is best explored on foot.
Persons: Joann Pai, Sandra Sigman, , Sigman, de Mars, you’ll, Dominique, Boulangerie Laurent B, Bellechasse, Germain, Bac, Pierre Hermé, monsieur, Le, Rue de Babylone, Sèvres, Rue de l’Abbaye, de Furstemberg, Furstemberg, they’ve, Tournon —, Villatte, Queen Marie de ’, Palazzo Pitti, Fna, Imane, , Rue Riad Zeitoun, Rue Djane Ben Chegra, Rue Laarassi, darija, Rue Sidi Boulabada, Rue Bab Ahmad, Rue Bin Lafnadek, Michael Park, it’s, Earl Grey scones, Hadid, Petrina, It’s, Strickland, Carlos Drummond de Andrade, Ian Cheibub, Ayrton Senna, touristy, Clarice Lispector, altinha, Tom Jobim, toting Tom Jobim, Osório, Rua Vinícius de Moraes Organizations: Shops, Jardin de, The New York, Rue Saint, Mars, ., The New York Times, des Invalides, Saint, Blvd . Saint, Rue de, Rue du, Rue de Rennes, de, Compagnie Française, Français, du, Palazzo, Credit, Rue Riad, des, Rue Bahia Bab, Moors, Jewish, Rue, Rue Sidi, Tachenbacht, Rue Bin, Wall ., Korean, South Korean, Milk, Nielsen, New, Opera, Milk Beach, Gibsons, Reserve, South, Heritage, Hornby, Fort, Francisco, Rua Locations: Cities, Paris, Seoul, Marrakesh, Jardin, Jardin de Luxembourg, Rue, Esplanade des Invalides, Blvd, Raspail, bac, Rue de Bac, Bac, Rue de Babylone, Seine, Astier, Français ., du Luxembourg, Italian, Florence, medina, Moroccan, Central Park, Jemaa, ., El, unburied, El Badi, Spain, Marrakesh ., darija —, Marrakesh enfolds, Morocco, Naksan Park, Gyeongbokgung, Scoff, Inwangsan, Seongbuk district, Dongdamun, Sydney, Hermitage, Bayview Hill, Vaucluse, Watsons, Queens Beach, . Credit, Bayview, Fort Denison, Sydney Harbour’s, Milk, Camp Cove . Credit, Parsley Bay, Hopetoun, Palmerston, Moreton, Camp Cove Beach, Mosman, Balgowlah, Manly, Bay, Watsons Bay, de Janeiro, Copacabana, Rio de Janeiro, Brazilian, Ipanema, Rio, Beach . Credit, Italy, Copacabana Beach . Credit, de, Leme, Fort Copacabana, Arpoador, Vero, Polis Sucos, Polis
The Hamptons are facing a summer rental glut, with over 1,000 available in August as of Wednesday. Real-estate agents said an uptick in travel and lower Wall Street bonuses are behind the glut. A glut of available properties and sky-high rental prices are adding up to a slow summer rental season, worrying real-estate agents counting on tenant demand. The hot Hamptons summer rental market, it seems, has caught a chill. "I have a summer rental that's listed for $150,000 for a month and it got an offer of $80,000.
Persons: , Dana Trotter, Trotter, Enzo Morabito, Douglas Elliman, aren't, KENA BETANCUR, Anthony Rosina, they've, Judi Desiderio, Rosina, We're Organizations: Service, Hamptons, CNN, The Agency Hamptons, Agency, Sotheby's, Town, Country, CNBC Locations: New York, New York City, Southampton, East Hampton
How to Find a Real Estate Agent
  + stars: | 2023-06-14 | by ( Aly J. Yale | ) www.wsj.com   time to read: +15 min
According to the Association of Real Estate License Law Officials, more than three million people hold active real estate licenses in the U.S. That’s a lot of people with a range of experience and expertise. That’d be “knowledge,” says Philip Hordijk, founder of real-estate brokerage Leven Real Estate. A note of caution: Think hard before choosing a friend or family member to help with a real estate transaction. Search online directories—with careThere are plenty of third-party real estate sites that offer agent directories, too, including Realtor.com and Zillow. Real-estate broker vs. agentThere is also a differentiation between a real-estate agent and a real-estate broker.
Persons: Aly J, , Jonathan Rundlett, , Philip Hordijk, Kimberly Jay, I’m, ” Jay, Jeremy Kamm, ” Kamm, , Jesse Sheldon, don’t, ” Hordijk, Christian Ross, Völkers, Desiree Avila, Charles Rutenberg, Johnny, you’re, ” Ross, Bret Weinstein, ” You’ll, you’ve, Sellers, Hordijk Organizations: Yale, Association of Real, License, National Association of Realtors, Compass, Real, Engel, Exxon Mobil, Houston Association of Realtors, NAR, News Corp, Street, Realtors Locations: U.S, Leven Real Estate, New York, New York City, Seattle, Fort Lauderdale, Avila, Houston, Denver, In Texas
Three industry professionals told Insider that incidents like this also happen in the US, and that homeowners should be taking steps to avoid it happening to them. The frequency of this specific type of fraud is hard to quantify, with most data tending to focus on the prevalence of mortgage fraud as a whole. Industry professionals told Insider in March that real-estate fraud as a whole has surged in the past year. Even in cases where the defrauded individuals successfully contest the loan, Berg said it can still be "costly and, of course, upsetting." The experts agreed that another way to stay safe is by purchasing insurance, such as an owner's title policy.
Persons: , Jay Allen Macdougall, Macdougall, Josh Migdal, Migdal, Hayden, Arthur Pfizenmayer, Pfizenmayer, Bridget Berg, Berg Organizations: Service, Toronto, FBI, Federal Trade Commission, Industry, United States Sentencing Commission Locations: Canada, Pfizenmeyer, CoreLogic
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