DIRS.INFO The most relevant business & tech news

☆ A real-estate investor who started with condos explains why they're ideal for beginners — and why he eventually sold to 'graduate' to a different property type
▼ + stars: | 2024-09-12 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +1 min

He sold his three condos in 2024 to invest in either commercial deals or build affordable housing. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Let me try renting it,'" the New Jersey-based investor told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Steve Lewis, —, I'd Organizations: Service, Business Locations: New Jersey

☆ A day in the life of an American startup founder in Singapore who juggles timezones, 8 employees, and WhatsApp chats with hundreds of customers
▼ + stars: | 2024-09-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

As a startup founder, no day is exactly the same. This is a relatively new part of her daily routine, and something she used to think was "impossible" to make time for as a startup founder. A typical day: Communicating with customers, paring down meetings, and saving admin for the eveningA chunk of Jiang's day consists of interacting with Peek customers via WhatsApp chat. In general, she says she has "way fewer meetings" as a startup founder than she did in the corporate world. Jiang and her partner, who is also a startup founder, also block out one night a week — Thursday — to set work aside and "just hang out," she said.

Persons: —, Sherry Jiang, Jiang, Peek, I'm, she's, they're, I've, Sherry Jiang Jiang Organizations: Service, Google, Business, Vally, Peek, Singapore, UC Berkeley, Amazon, LinkedIn Locations: Singapore, West Coast, Asia

☆ A part-time real estate investor shares his 'failed' 1031 exchange — and what he wishes he knew before trying the tax-saving strategy
▼ + stars: | 2024-09-08 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

You could theoretically defer capital gains taxes indefinitely if you continued exchanging for what the IRS calls "like-kind properties." That's what part-time real estate investor Steve Lewis, who bought his first property in 2000 and expanded to three rentals before selling in 2024, found when he attempted a 1031 exchange. Then, you must close on the replacement property within 180 days of your initial property sale. While his failed 1031 experience may be "rare," he noted, "there are so many things that could delay a closing." Lewis says he'd consider a 1031 exchange in the future if the 180-day rule were extended to a year.

Persons: —, Steve Lewis, Lewis, that's, he'd, He'd Organizations: Service, Business

☆ A real-estate investor who has financed properties with both 15- and 30-year mortgages has an obvious favorite. Why he'd always pick the shorter one.
▼ + stars: | 2024-09-06 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +1 min

Steve Lewis prefers to finance investment properties with a 15-year mortgage. Go to newsletter preferences Thanks for signing up! AdvertisementSteve Lewis has experience with both 15- and 30-year mortgages — and if he buys more investment properties in the future, he says he'd pick the shorter-term loan every time. "The first property was already under a 30-year, so I just left it," Lewis, who works in cybersecurity full-time, told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Steve Lewis, —, New Jersey —, Lewis Organizations: Service, Business Locations: New Jersey, cybersecurity

☆ A real-estate investor who achieved financial independence buying rentals shares the early mistake she made — and 2 criteria for picking an investment property
▼ + stars: | 2024-08-12 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

The second one — not as good," the seasoned real estate investor told Business Insider. Her second deal was a mountain cabin in a retirement community that she assumed would "appreciate like mad," she said. As of 2024, she said, she is a partner in $800 million of real estate, including over 6,500 residential units and 2,200 self-storage units across 11 states. Related storiesAdditionally, with a single-level property, you avoid potential structural headaches. "If it's going to be an investment property, I need to think about who's buying it next from me.

Persons: —, Whitney Elkins, Hutten, Elkins, She's, that's Organizations: Service, Business Locations: Fort Collins, Hutten

☆ Real estate investors are using a 2-part strategy to build equity and avoid capital gains tax
▼ + stars: | 2024-08-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

"There are so many ways to get started in real estate," said Elkins-Hutten, who is a financial educator and the author of "Money for Tomorrow." AdvertisementHere's how the Jensens and Elkins-Hutten have built equity and sidestepped capital gains taxes in two steps. Elkins-Hutten used real estate investing as a vehicle to achieve financial freedom and gain back time. Advertisement"Because we lived in it and owned it for two of the past five years, we paid no taxes on the capital gains," explained Mindy. While their gains were around $100,000, they could have excluded up to $500,000 since they were both on the title.

Persons: —, Whitney Ekins, Hutten, Elkins, rehabbing, Carl Jensen, Mindy, they've, There's, Carl, Whitney Elkins Organizations: Service, Business, YouTube Locations: Elkins

☆ Teenagers who turned $400 into a six-figure business share 4 strategies that helped them scale
▼ + stars: | 2024-08-08 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Read previewJacob Shaidle started cleaning barbecues in the summer of 2021 to fund his education. AdvertisementShaidle started cleaning barbecues in 2021 to pay for his university tuition. Over the past year, the teens, who are heading into their third year at the University of British Columbia, have grown Shaidle Cleaning to six figures in annual revenue. One is a small business called Strodes, a butcher shop deli that makes its own all-natural, chemical-free degreaser that Shaidle Cleaning buys in bulk. Go digitalDuring his first two summers in business, Shaidle acquired clients through door-knocking and word-of-mouth.

Persons: —, Jacob Shaidle, he'd, Shaidle, Aran Giffen, Lean, Giffen, it's, Aran, Jake, They'll, they're, you've Organizations: Service, Business, University of British, Insight, Hamilton Spectator Locations: Hamilton , Ontario, University of British Columbia, Ontario, We've

☆ 19-year-old friends run a six-figure business cleaning barbecues. How they started with $400 and scaled to 20 employees.
▼ + stars: | 2024-08-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

Buying a car, notching his first five-figure month, and partnering with a friend to bring the business onlineAfter a year of school, Shaidle restarted his cleaning business in June 2022. AdvertisementAran Giffen joined the Shaidle Cleaning team in 2023. He and Giffen spent their second year at university planning for what they expected to be a busy 2024 season for Shaidle Cleaning. Shaidle Cleaning is completely student-operated. Giffen, who's on a full university scholarship for accounting, isn't technically under contract as a Shaidle Cleaning employee.

Persons: Jacob Shaidle, Shaidle, —, that's, Aran Giffen, He'd, didn't, Jake, Giffen, they've, you've, who's, I'd Organizations: Service, Business, Home, University of British, UBC, Hamilton Spectator, Shaidle Locations: Hamilton, Canadian, Ontario, University of British Columbia, Canada

☆ Short-term rental pros share 2 strategies that help them profit during Airbnb slumps
▼ + stars: | 2024-07-31 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Short-term rentals are generally considered more lucrative than long-term rentals. Summer 2023 was tough across the board for the short-term rental market, with some Airbnb and Vrbo hosts seeing revenue drop by up to 18%. The couple self-manages three short-term rental properties. "On a lot of these short-term rental platforms like Airbnb and Vrbo, there are rating systems for the guest," said Jervais. They noted that working with the right property manager or co-hosting platform is a good option for a short-term rental property owner who wants to be more hands-off.

Persons: they're, Natia, Jervais Seegars, they'd, they've, We're Organizations: Service, Business, Ventures, Strategy

☆ A top Chicago Realtor who predicts the real-estate market will 'take off like a rocket ship' after the election says now is the time to 'strike'
▼ + stars: | 2024-07-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +3 min

"If I'm an investor, I don't want to buy when everybody else is wanting to buy," the top Chicago real-estate agent told Business Insider. As we enter an unprecedented 2024 presidential election season, Laricy believes that now happens to be one of those times. About a week before Biden dropped out, former President Donald Trump survived an assassination attempt on the campaign trail. As we head into 2025, I think the market is going to take off like a rocket ship." In his specific market, Chicago, he says that investors should be paying attention to condos.

Persons: Matt Laricy, Warren Buffett's, Laricy, Kamala Harris, Joe Biden, Biden, Donald Trump, You've, I'd, Harris, Trump, we'll, there's Organizations: Service, Chicago, Business, Democratic Locations: Chicago

☆ Real estate investors weigh in on how passive rental income really is: 'It's like having an expensive puppy'
▼ + stars: | 2024-07-25 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

If you google "passive income ideas," one of the first strategies that pops up is to buy a rental property. Even those with property managers have described having to "manage the property manager." Buying rental properties is "expensive like a puppy," he added. They've learned that, "the more hands-on you are, the more money you're going to make," said Jervais. One, their long-term rental properties are newer, so they naturally have fewer maintenance requests and upkeep.

Persons: I'm, Matt, it's, Matt H Natia, Jervais Seegars, They've, Karina Mejia, aren't, Mejia, Jervais, Jim Resonable, she'd Organizations: Service, Business, EVO Real Estate Locations: New Hampshire, Boston, Augusta , Georgia, North Carolina , California, Georgia

☆ A self-made millionaire who has invested in real estate, stocks, and crypto shares why index funds are the No. 1 way anyone can build wealth
▼ + stars: | 2024-07-20 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +1 min

Tess Waresmith advises prioritizing stock-market investing over real estate for ease and growth. Waresmith, a financial educator, emphasizes learning the basics of low-cost index funds for wealth. Her diversified portfolio includes rental units, index funds, individual stocks, and crypto assets. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . If she could go back, Waresmith says she would've prioritized stock market investing — specifically, buying low-cost index funds — over real estate.

Persons: Tess, —, Tess Waresmith's, Waresmith Organizations: Service, Business Locations: Tampa , Florida

☆ Real estate pros agree that rental income isn't 'passive' and are turning to more hands-off strategies
▼ + stars: | 2024-07-18 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

It sounds simple enough — rent comes in and, ideally, it's greater than the rental expenses, resulting in positive cash flow — but real estate investors agree that rental income shouldn't be categorized as passive. "You hear that real estate investing is passive, and that's certainly not been my experience," New England-based investor Tess Waresmith, who owns five units, told Business Insider. But when I'm not actively buying, I don't spend much time on real estate." Real estate syndicationWith real estate syndication deals, a group of investors pool together their capital to purchase a single property managed by the syndicator. He recommends starting with an online search for "real estate syndicates" or "commercial real estate syndicates" if you're specifically interested in commercial deals.

Persons: —, that's, Tess Waresmith, Stephen Yin, I'm, Carl, Mindy Jensen, we've, Mindy, Erik Smolinski, Smolinski, hasn't Organizations: Service, Business Locations: New England, Los Angeles, Birmingham, Colorado

☆ A self-made millionaire shares the money advice she'd give her 20-year-old self, including mistakes to avoid
▼ + stars: | 2024-07-17 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

"I was very lucky that I started from zero with my financial journey," the New England-based 36-year-old told Business Insider. AdvertisementThe financial educator, whose mission is to help young women grow their wealth, didn't get to where she is without a bit of trial and error. AdvertisementWhen you first start investing, "it can feel like it takes some time," she noted. "But once you start building wealth, whether it's in real estate or the stock market, your efforts really do start to compound. Overpaying for a financial advisorWhen Waresmith eventually put her cash to work in the stock market around 2013, she paid a financial advisor to manage her portfolio.

Persons: —, Tess Waresmith, Waresmith, Tess, didn't, she'd, hasn't Organizations: Service, Boston University, Business Locations: England, America

☆ A 36-year-old who built a seven-figure net worth shares how she invested her money and her current portfolio
▼ + stars: | 2024-07-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

Courtesy of Tess WaresmithHer current portfolio: real estate, index funds, individual stocks, crypto, and cashWaresmith has continued to diversify her portfolio over the years. "But then there are other ways to diversify within the stock market and also outside the stock market. "I think there's a misconception around real estate investing that you have to have 300 units to be successful," she said. In her case, the first deal she did was "a total game changer and allowed me to invest more in the stock market. The stock market: index funds and individual stocksWaresmith prefers index funds because "it's such an easy way to get exposure to the whole stock market," but a small portion of her portfolio, less than 5%, is in individual stocks.

Persons: —, Tess Waresmith, Waresmith, Tess, Waresmith's, I've, she's, I'm, It's Organizations: Service, Boston University, Fortune, Business, BU, America Locations: New England, America, Tampa , Florida, Salem , Massachusetts, Tampa, Massachusetts

☆ Real estate investors share 3 strategies they've used to increase the value of their properties by up to 60%
▼ + stars: | 2024-07-11 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Real estate investing, if done prudently, can earn income in a variety of ways. There's no guarantee your real estate will appreciate, but there are strategies you can use to improve your chances. Focus on the kitchen and bathroomsDana Bull, a Massachusetts-based real estate investor, agent, and consultant, bought her first property for $200,000 in 2012. Massachusetts-based real estate investor Dana Bull. Unless you're truly an expert in design, it's often worth it to pay a professional, she said: "I'm a real estate agent.

Persons: Dana Bull, They'll, Afzal, Monroe, it's Organizations: Service, Business Locations: Massachusetts, Monroe , New York, New York City, Manhattan

☆ I read a 27-year-old cult classic considered one of the most popular money books of all time. Here are my 3 main takeaways.
▼ + stars: | 2024-07-07 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

I first reported on Robert Kiyosaki's "Rich Dad Poor Dad" back in 2015. — part assignment (I recently started reviewing popular money books) and part convenience: "Rich Dad Poor Dad" was gifted to me a few years back and happened to already occupy my bookshelf. His poor dad earned a substantial income but always struggled financially; his rich dad became one of the wealthiest individuals in Hawaii primarily by running businesses. While rich dad wasn't educated in the traditional sense, he understood money — and agreed to pass on that understanding to Mike and Kiyosaki. The former, according to rich dad, will "shut down your brain" and create a "lazy mind," while the latter forces you to be solutions-oriented and get creative.

Persons: Robert Kiyosaki's, Rich Dad, I'd, Dad, What's, It's, he's, Mike, Kiyosaki, wasn't, —, Kiyosaki isn't Organizations: Service, Business, Stanford Locations: Hawaii

☆ A real-estate investor who owns 5 properties in upstate New York shares strategies he uses to get his offers accepted in a competitive market
▼ + stars: | 2024-07-06 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Atif Afzal bought his first property in Monroe, New York in 2019. It has become increasingly more competitive to buy in Monroe, said Afzal, who owns five properties, including four long-term rentals and a primary home. Real-estate agent and investor Dana Bull, who does deals in Boston, has experience helping clients win bids. The key is to focus on the property — the specific things that you like about it — rather than you the buyer.

Persons: Atif Afzal, Afzal, what's, Dana Bull, they've, it's, Bull, you've Organizations: Service, Business, realtors Locations: Monroe , New York, New York City, Manhattan, New York, Monroe, Boston

☆ A real-estate investor who brings in $8,500 a month from his New York rentals explains why he avoids single-family homes and what he's willing to spend an extra $20,000 on
▼ + stars: | 2024-07-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +1 min

Each of his rental properties is a townhome, which he prefers because they're easier to maintain. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "It has to be townhomes," the 39-year-old real estate investor told Business Insider. Afzal bought his first property in Monroe — a town about 50 miles north of New York City — in 2019. This story is available exclusively to Business Insider subscribers.

Persons: Atif Afzal, —, Afzal Organizations: Service, Business, New York City — Locations: New York, Monroe —, New York City

☆ A financially independent entrepreneur shares the 'ticket for passive income' — and how she plans to grow from a six-figure business to 'multiple seven figures'
▼ + stars: | 2024-06-30 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLiz Wilcox brings in, on average, $40,000 a month from her email marketing business — and she's not logging a lot of hours. Her business brought in five figures while she competed on the reality TV show without access to the outside world. AdvertisementThanks to the way she's set up her business, "I really could disappear for a month," said Wilcox. Because almost every business, if they're doing it right, is doing email marketing."

Persons: —, Liz Wilcox, I've, Wilcox, Burger King, We've, Liz, she'd, we'd Organizations: Service, Business, BI Locations: Destin , Florida

☆ An ex-Survivor contestant who brought in five figures from her online business while filming the show explains how she created a lucrative passive income stream in 3 steps
▼ + stars: | 2024-06-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

The 36-year-old single mom runs an email marketing business. Here's how Wilcox created passive income in three steps. Wilcox started her email marketing business during the pandemic. "Everyone talks about passive income, but they keep growing. Earning passive income doesn't happen overnight.

Persons: —, Liz Wilcox, Wilcox, I'm, Here's, it's Organizations: Service, LAX, Business

☆ 4 investors share the strategies they're using to earn passive income and build wealth while they sleep
▼ + stars: | 2024-06-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Whereas, with passive income, the idea is you do upfront work and then the gig pays you while you sleep. Insider has spoken with individuals and couples who have built passive income streams that are helping them build wealth without having to put in a ton of hours. "I 100% think that it can be a lucrative passive income stream," Erika said of investing in a franchise. That comes out to about $40,000 a month in just subscription revenue. "Everyone talks about passive income, but they keep growing.

Persons: —, Erika, Kareem Hall, Kareem, Erika Hall, Rachael Victoria, They've, , Kent, Liz Wilcox, Wilcox, I'm Organizations: Service, Business, Soccer Shots, Emory, Soccer, he's, LAX Locations: Georgia, Scottsdale , Arizona, Scottsdale

☆ A 36-year-old single mom explains how she turned her skill for getting people to open their emails into a business that brings in $40,000 a month
▼ + stars: | 2024-06-25 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

That's how ignorant I was," the 36-year-old single mom told Business Insider. I'm used to working with beginners. That's when I thought, 'OK, I'm really on to something.'" "The first two years of the membership, it wasn't overwhelming but it definitely wasn't passive. "More than the money, I really want to do that because I want to show people what is possible.

Persons: —, Liz Wilcox, Wilcox, I'm, she'd, I've, she's Organizations: Service, Google, Business, Netflix, Black, LAX Locations: Destin , Florida

☆ A millennial who raised $24 million to invest in properties using an 80-page pitch deck shares the key to his success beyond the deck itself — and how to get started in real estate
▼ + stars: | 2024-06-22 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

At the time, he was bringing in between $25,000 and $30,000 a month from his personal real estate portfolio, he said. "I deployed that $7 million and bought about $25 million worth of property within 10 months," he told BI. His second fund closed at just under $24 million. "Put 5% down," he advised (many new investors get started with FHA loans that allow you to put down as little as 3.5%). If you maintain your current lifestyle, you can use those savings to buy a second property.

Persons: James Berkley, syndicator, Berkley, — Organizations: Service, Business Locations: Boston, New York City, Worcester , Massachusetts, Worcester, Berkeley

☆ A seasoned real estate investor who's shifting his investment philosophy to be more mission-based explains how any investor can give back while still profiting: 'It doesn't have to be a zero-sum game'
▼ + stars: | 2024-06-09 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

With the newfound time, "I've thrown myself back into the real estate company," the early retiree told Business Insider. He understands the importance of cash flow but is also convinced that investors at earlier stages in their careers can give back to their communities while also turning a profit. "It's all just percentages: You don't have to give out 90% of your units for affordable housing, but you can do one. He purchased his first affordable housing unit — a single-family home in Fairfield, Alabama that he'll rent on a long-term basis to a Section 8 tenant — in 2023. AdvertisementIt won't cash flow as much as his Airbnb properties, he said, but it allows him to diversify his portfolio.

Persons: Matt, I've, wasn't, Kent, —, That's, haven't Organizations: Service, Business, Government Locations: New Hampshire, Diego, Fairfield , Alabama

Search resuls for: "Kathleen Elkins"

25 mentions found