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☆ America's offices are about to see a wave of distress that could result in a billion square feet of fresh housing supply
▼ + stars: | 2024-10-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Advertisement"The banks are going to have to dispose of that real estate," Barkham told Business Insider in an interview. John Vavas, a real estate finance attorney at Polsinelli who works with commercial real estate lenders, has worked on a handful of office-to-residential conversion deals this year. There's around 1.2 billion square feet worth of office space that could be spun into residential space, Yardi said in a separate report. Late payments on commercial real estate loans have climbed to 1.42% in the second quarter, the highest rate in nearly 10 years. Commercial real estate prices, meanwhile, dropped another 9% year-over-year in the first quarter, Fed data shows.

Persons: —, Richard Barkham, Barkham, RentCafe, John Vavas, Yardi, Vavas Organizations: Service, Federal, Silverstein Properties, Washington DC Locations: New York, United States, New York City, Dallas, Chicago, Los Angeles

The prospect of installing a new roof atop Tropicana Field comes at a difficult time for local governments, which are already committed to building a new Rays stadium in time for the 2028 season. So whatever investment is put into Tropicana Field now would be used by the Rays for only three more seasons. A rep for the company that installed the stadium’s roof, Geiger Engineers, did not return messages from NBC News seeking comment Thursday. That roof was “well past its intended service life,” Geiger Engineers principal David Campbell told the newspaper. Tropicana Field opened to the public in 1990 and still had its original roof.

Persons: Councilmember Gina Driscoll, Ann Heisenfelt, Emily Guglielmo, Guglielmo, ”, David Campbell Organizations: Tropicana Field, Tampa Bay Rays, MLB, Rays, Tropicana, NBC, Minnesota Vikings, St, American Society of Civil Engineers, Committee, Colorado Rockies, Geiger Engineers, The New York Times, ” Geiger Engineers Locations: Hurricane Milton, St, Petersburg, Tampa Bay, Minneapolis, California, America

CLEARWATER, Fla. — Two days after Hurricane Milton flooded The Standard at 2690 Apartments, representatives from the company that manages the 16-acre complex showed up Friday and barred tenants from returning to their homes. Before Milton arrived, McCoy said she noticed a maintenance worker boarding up the complex’s leasing office. "My neighbors ended up doing it for me.”As for the property managers, McCoy said, “They just were out like that. Police at the complex told reporters they rescued at least 500 other residents the same way. Samantha Hood, 32, who has lived at the complex for four years, said many of the tenants are poor families with children who live paycheck to paycheck.

Persons: Milton, We’ll, ” Angela Lentsch, Lentsch, Jas McCoy, McCoy, “, ”, couldn't, Kelvin Glenn, ” Glenn, Glenn, Sandra, Samantha Hood, Hood, Matt Lavietes, Corky Siemaszko Organizations: Infinity, NBC, Police Locations: CLEARWATER, Fla, Lentsch, Siesta, Clearwater, Florida, Old Tampa, Pinellas County, Bay Harbor, Montclair , N.J

☆ He moved into a 194-square-foot apartment in Japan — and found that downsizing boosted his productivity
▼ + stars: | 2024-10-10 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

AdvertisementBefore LaJuan, 32, moved into his micro-apartment in Nagoya, Japan, he was worried. The shoebox apartment was merely 194 square feet, with a divider separating the living and sleeping space from the kitchen and toilet. Moving to JapanHailing from Trinidad and Tobago, LaJuan first came to Japan in 2016 on a teaching exchange program after college. "I'm like, oh, I'm going to live life purely based on what I want to get out of life, and purely with intention." "Where I live right now, there are a lot of really nice luxury vehicles, so I see it on a regular basis.

Persons: —, wasn't, LaJuan, I'd, it's, It's, LaJuan's, frugally, he's, he'll, doesn't Organizations: Service, Netflix Locations: Nagoya, Japan, Trinidad and Tobago, It's, Fuji, Tokyo, Kyoto, Trinidad ., Trinidad, homeownership

☆ Here's the inflation breakdown for September 2024 — in one chart
▼ + stars: | 2024-10-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Prices fall at the gas pumpAnnual food inflation is 'fairly tame'Frederic J. "What happens there can really move the dial when it comes to overall inflation and core inflation." CPI shelter inflation — which includes rental prices and an equivalent measure for homeowners — has gradually declined but remained stubbornly high. In September, shelter inflation throttled back on a monthly basis, to 0.2% from 0.5% in August. "Shelter inflation is now definitively moderating," Zandi said.

Persons: David Paul Morris, It's, Mark Zandi, Zandi, Sarah House, Frederic J, Brown, —, That's, that's Organizations: Bloomberg, Getty, U.S . Bureau of Labor Statistics, Wells, Wells Fargo Economics, U.S . Federal Reserve, AFP, CPI Locations: Wells Fargo

☆ A self-insured landlord in Hurricane Milton's path is still recovering after Helene but isn't evacuating to stay nearby and help his properties
▼ + stars: | 2024-10-09 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

AdvertisementKevin Stuteville, 45, is prepping his St. Pete Beach, Florida, home for a second hurricane, Milton, after Helene wreaked havoc just days before. St. Pete Beach is a barrier island about nine miles from downtown St. Petersburg. According to FEMA, the entire city of St. Pete Beach is a within a flood zone. Advertisement"I'm not evacuating out of St. Petersburg — I just can't," he said. Are you a landlord with properties affected by Hurricane Helene or Milton, and are open to sharing your story?

Persons: Helene, Kevin Stuteville, he's, —, Pete, Stuteville, Pete Beach, Florida who've, That's, I've, it's, Pete Beach Stuteville, Petersburg —, we've, Hurricane Helene, Milton, Jordan Pandy Organizations: Service, Business, FEMA, Stuteville, realtors, Consumer Federation of America, Milton Locations: Florida, Pete Beach , Florida, Milton, St, St . Petersburg, Tampa, COVID, Petersburg, Alabama, Jacksonville

With one of the most powerful hurricanes in a century barreling toward Florida on Tuesday, the Twin City mobile home park was already a scene of devastation because of Hurricane Helene. Twin City Mobile Home Park in Saint Petersburg, Fla., on Oct. 8, 2024. Jesse Hancock and Ria Blaight tried to salvage what they could Tuesday from their flooded home in Twin City mobile home park. Matt Lavietes / NBC NewsBut Pinellas Park, just north of St. Petersburg, is also in a mandatory evacuation area. I don’t care what kind of home.”Twin City Mobile Home Park in Saint Petersburg, Fla., on Tuesday.

Persons: Hurricane Helene, Milton, Matt Lavietes, Mark Prompakdee, Helene, “, ‘, ” Prompakdee, Jesse Hancock, Ria Blaight, Hancock, Blaight, ” Hancock, ” Blaight, “ It’s, ” Walter Smutz, Smutz, I’m, ” Smutz, Ninda Menegias, Ninda, Menegias, ”, Corky Siemaszko Organizations: — Homes, Twin, Twin City Mobile Home, NBC, ” Twin City Mobile Home, Management, NBC News, Lakeshore Management Locations: PETERSBURG, Fla, Florida, Twin City, Hurricane, Saint Petersburg, Pinellas Park, Park, St . Petersburg, ” Twin City, Skokie , Illinois, St . Petersburg , Florida, New York City

☆ One year on, the Israel-Hamas war has taken an unprecedented toll on journalists
▼ + stars: | 2024-10-07 | by ( Hadas Gold | ) edition.cnn.com time to read: +12 min

Multiple news organizations and free press groups have accused the Israeli military of deliberately targeting journalists. “One year in, Israel’s conduct of the war in Gaza has exacted an unprecedented and horrific toll on Palestinian journalists and the region’s media landscape,” CPJ said. Four Israeli journalists were killed in the October 7 attacks, and others barely survived. The raw footage is also subject to Israeli military censorship. CNN’s Clarissa Ward is one of the only foreign journalists to have entered the strip without the Israeli military, when she embedded with a United Arab Emirates field hospital crew.

Persons: Israel’s, ” CPJ, ”, Tania Kraemer, Clarissa Ward, they’ve, ” Al Jazeera, CNN he’s, “, Deborah Turness, Janine Zacharia, ‘ You’ve, ” Zacharia, William Lafi Youmans, George Washington, Youmans, ” Youmans, that’s Organizations: CNN, Journalists, Protect Journalists, “, Foreign Press Association, Deutsche Welle, Union of Journalists, United, United Arab Emirates, Court, West Bank, Israeli Journalists Union, Associated Press, BBC, West Bank “, Stanford University’s Department of Communications, The Washington Post, Reuters, George Washington University’s School of Media, Public Affairs, European Union Locations: Israel, Gaza, Jerusalem, Egypt, United Arab, American, Israeli, Palestinian, “, United States

☆ Here are the pros and cons of renting versus owning a home in those retirement years
▼ + stars: | 2024-10-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

However, many are renting in their retirement years. Most older adults, those at least 65 years old, own their homes, according to the Joint Center for Housing Studies at Harvard University. Renting in retirement years can be a positive because older people can avoid costly maintenance associated with the upkeep of a home. "Renting often offers more amenities, less maintenance, more accessibility," said Jennifer Molinsky, director of the housing an aging society program at the Joint Center for Housing Studies. And unlike younger renters, adult renters in retirement years could be especially vulnerable to rent hikes because they are on fixed income, experts say.

Persons: Jennifer Molinsky, Roth, Lazetta Rainey Braxton, Braxton Organizations: Joint Center for Housing Studies, Harvard University, Finance, CNBC Locations: U.S

☆ What office meltdown? Developers see a shortage of high-end space and are rushing to build it.
▼ + stars: | 2024-10-03 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +12 min

Much of the office market may be mired in a downturn, but demand has been strong for high-end space. New office construction has dropped off sharply, leading to a potential upcoming shortage. That demand has persisted even as office construction has been stifled by higher interest rates and inflation, which have pushed up costs. Worries over the health of the office market have also made lenders reluctant to finance new development. 8 million square feet of that is pre-leased, meaning that there is only about 10 million square feet of upcoming available top quality space.

Persons: —, Hilary Goldfarb, Goldfarb, Crowell, there's, Scott Rechler, Rechler, Vanderbilt, Philippe Visser, CBRE, Visser, Larry Silverstein, Norman Foster, Silverstein, Randolph St, Ross, Stephen Ross, Jordan Rathlev, Rathlev, Jessica Morin, Morin, Banks, RXR, I'm, you'd Organizations: Service, Rockefeller Development, Fifth St, RXR, Skidmore, Owings, Merrill, TF Cornerstone, Grand Central, Citadel, Yards, Companies, Oxford Properties, Hudson, Hudson Yards, KKR, Meta, World Trade Center, American Express, Trade, Related's, Central Locations: Washington ,, Washington, DC, New York, San Francisco, midtown Manhattan, Manhattan, Wells Fargo, BlackRock, Lower Manhattan, Chicago, Fulton, West Palm Beach , Florida, CBRE

While there's no universal minimum credit score to rent an apartment, landlords generally prefer applicants with a good credit score, which is at least 670. How to improve your credit score for rentingIf your credit score isn't stellar right now, don't worry. The average credit score of a Gen Z consumer is 680 compared to the average baby boomer's credit score of 745. Credit builder loans and rent reporting companies can help you add credit history to your credit report. Frequently asked questions about apartment credit score requirementsCan you rent an apartment if you do not have credit?

Persons: —, TransUnion, Kendall Meade, Jay Zigmont, Jennifer, Read Organizations: Fair, Childfree, Business, Yahoo, Finance, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: AnnualCreditReport.com, SoFi, Chevron, America, TheGrio, New York City

☆ Powell indicates further, smaller rate cuts, insists the Fed is 'not on any preset course'
▼ + stars: | 2024-09-30 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +4 min

But we are not on any preset course,” he told the National Association for Business Economics in prepared remarks. A basis point equals 0.01%. “We do not believe that we need to see further cooling in labor market conditions to achieve 2 percent inflation,” Powell added. For his part, Powell expressed confidence in economic strength and sees inflation continuing to cool. Broader economic conditions also set the table for further disinflation.”Following the speech, Powell was scheduled to sit for a question-and-answer session with Morgan Stanley economist Ellen Zentner.

Persons: Jerome Powell, ”, ” Powell, Powell, “, Morgan Stanley, Ellen Zentner Organizations: National Association for Business Economics, Committee, Fed Locations: Nashville

☆ I'm a millennial who lives alone in a tiny house in the countryside. I don't feel like I'm missing out on city life.
▼ + stars: | 2024-09-30 | by ( Amanda Goh | ) www.businessinsider.com time to read: +7 min

Nikky de Graaf, 30, moved to the countryside to live in a cottage on her parents' land. She spent $3,000 to set up the tiny home and doesn't feel like she is missing out on big-city life. Nikky de Graaf lives in a cottage in the rural countryside of the Netherlands. It has a beautiful view of the surrounding fields, and I really love it. AdvertisementI love this life, and I don't really miss out on any of the city activities, because living in the countryside gives me so many other things to enjoy.

Persons: Nikky, —, Nikky de, I've, Nikky de Graaf, de, that's, De Graaf, de Graaf Organizations: Service, Utrecht —, Amsterdam —, YouTube Locations: Graaf, Nikky de Graaf, Netherlands, Utrecht, Amsterdam, de Graaf, that's

☆ 14 cities with deals on affordable apartments as rent slides alongside interest rates
▼ + stars: | 2024-09-27 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Apartment prices were slightly cheaper in September than in August as interest rates fell. AdvertisementRent inched lower in September as the unofficial moving season starts to wind down, but apartment prices are still near all-time highs. 14 affordable cities where rent is down meaningfullyNearly two-thirds of the nation's 100 biggest real-estate markets experienced either lower or flat rent in September, according to Zumper. However, only 14 cities have one-bedroom apartments that cost less than the national median of $1,533 and were at least 2% cheaper than last year. AdvertisementBelow are those 14 cities, along with their month-over-month and year-over-year rent changes, median rent prices, the monthly savings vs national median, and national rent ranking.

Persons: —, Zumper, It's, Anthemos Georgiades Organizations: Service, Federal Reserve

☆ The biggest single-family home landlord in the US is poised to pay $48 million in settlement with FTC
▼ + stars: | 2024-09-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

Invitation Homes is poised to pay over $48 million in a settlement with the FTC. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. 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 . AdvertisementThe country's largest single-family home rental company is poised to pay more than $48 million as part of a proposed settlement with the Federal Trade Commission over allegations that it deceived and overcharged consumers.

Persons: — Organizations: FTC, Service, Federal Trade Commission, Invitation, Business Locations: California

“If we’re going to put up affordable housing, we don’t just want to house one family. We want to house five or six or eight or 25 families,” said Minneapolis Mayor Jacob Frey, who has overseen the Minneapolis 2040 plan. Trump campaign national press secretary Karoline Leavitt blamed the higher housing costs on the current administration’s policies, as well as an “unsustainable invasion of illegal aliens.” The campaign broadly said Trump’s housing plan involves freeing up federal land for housing and cutting regulations. Walz, whom Frey said was “committed to the mission” on affordable housing, signed the measure into law in May. We also need to have more active state, local and federal government policies that look to support the housing market.”

Persons: ”, Minneapolis Mayor Jacob Frey, Ben Brewer, Donald Trump, Kamala Harris, Harris, Tim Walz, Karoline Leavitt, It’s, Frey, Hennepin, Ryan Allen, “, ” Allen, Cody Fischer, ” Fischer, ” Jeremy Wieland, Wieland, didn’t, it’s, ” Wieland, Fischer, ’, Walz, University of Minnesota’s Allen, that’s Organizations: National Association of Realtors, Minneapolis Mayor, Currie, Bloomberg, Getty, Minnesota Gov, Trump, Pew Research, NBC, Ford Motor Co, Minn, University of Minnesota, Minneapolis, California Bay Area, Minnesota Environmental, Minnesota Supreme, University of Minnesota’s Locations: MINNEAPOLIS, United States, Minnesota, Minneapolis, U.S, Harrison, Hennepin County, St, Paul, California Bay, San Francisco, Oakland, ”, Northeast Minneapolis, “

☆ A new housing plan wants to give middle-class Americans the kind of support typically reserved for low-income households
▼ + stars: | 2024-09-19 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The HOMES Act would establish a new federal housing development authority charged with building and rehabilitating more than a million permanently affordable homes. This so-called "social housing" is notably different from traditional public housing, which is entirely reserved for the poorest households. Rent for all tenants in social housing would be capped at 25% of their income. "There is another way: social housing," Ocasio-Cortez and Smith said in their op-ed. And in California, lawmakers introduced a bill to construct mixed-income social housing on government-owned land.

Persons: —, Alexandria Ocasio, Sen, Tina Smith, Cortez, Gianpaolo Baiocchi, Smith, Baiocchi, Emily Gallagher's, Kamala Harris, she's, Donald Trump, Smith —, Harris, Walz Organizations: Service, New, New York Democrat, Minnesota Democrat, Senate, Business, Urban Democracy Lab, New York Times, New York Locations: Alexandria, Cortez, New York, Minnesota, New, California, Vienna

☆ A millennial couple who moved from Colorado to Massachusetts explains why it's much more expensive — and why they don't regret it
▼ + stars: | 2024-09-19 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

They were lucky enough to lock in a 2.79% mortgage rate when they bought it — the average 30-year fixed mortgage rate is over 5% today. However, one non-financial factor began to lure the couple away from Colorado: family. Due to Massachussets' "higher cost of living," Nicole said the move has had a significant impact on their finances. For these people, buying a new home could mean taking on a significantly higher mortgage rate and monthly mortgage payment than they previously had. Lastly, while they live closer to family, Nicole said this hasn't saved them money on childcare.

Persons: —, Nicole Stanley, Jacob, Nicole, who's, Jacob don't, Jacob aren't Organizations: Service, Business, . Colorado, Denver, BI Locations: Denver, Aurora , Colorado, Colorado, Mattapoisett , Massachusetts, Massachusetts, New York, California, — Massachusetts, Massachuseets

☆ We spent over $54,000 renovating our house — but these 5 cheap upgrades actually made the biggest difference
▼ + stars: | 2024-09-19 | by ( Melissa Noble | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWhen we purchased a three-bedroom fixer-upper in Melbourne, Australia, in 2017, we couldn't wait to move in and get started renovating. Over the course of three years, we spent just over $80,000 Australian dollars, about $54,000, transforming it into our dream home. Here are five fairly low cost upgrades that really boosted our property's appeal and got many compliments from friends and family. AdvertisementIt only cost about AU$200 to make, but it really added to the property's street appeal.

Persons: —, Cameron Church Organizations: Service, Business Locations: Melbourne, Australia

☆ Gen Z and millennials are propping up the economy — with help from their parents, 'Oracle of Wall Street' says
▼ + stars: | 2024-09-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAccording to a Harris poll from September 2023, about 45% of adults aged 18 to 29 were still living with their parents. However, the "Oracle of Wall Street" economist — so known for correctly predicting the 2008 crisis — did not foresee a recession, given that stronger cohorts would continue to power the economy. Aside from Gen Z and millennial consumers, top-earners are also helping keep the US economy afloat, Whitney noted. Those raking in over $150,000 are still active in the economy, though buying has shifted toward essentials over discretionary products.

Persons: —, Meredith Whitney —, Harris, Whitney, McDonald's, Gen Z Organizations: Service, Financial Times, Business, Whitney, US Bureau of Labor Statistics, Dollar

☆ The office market is in trouble. Lower interest rates might not be enough to save it.
▼ + stars: | 2024-09-15 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

Read previewOffices have been the weak spot in the commercial real estate market since the pandemic gave rise to widespread remote work and caused companies to reassess how much space they need. The Federal Reserve's likely interest rate cut, expected at the end of its meeting on September 18, could give office owners some relief with lower interest rates when they refinance. But that doesn't mean they're in the clear, according to commercial real estate experts. Right now, most commercial real estate loans come from small, regional banks, but that could change. AdvertisementYet even with the weakness in the office market, lower interest rates are a net positive for the industry, economist Richard McGahey says.

Persons: —, Lisa Pendergast, Pendergast, Lisa Knee, Knee, It's, Richard McGahey, McGahey Organizations: Service, Business, CRE Finance

☆ It looks like the commercial real estate market has finally bottomed out — and experts say it's time to invest
▼ + stars: | 2024-09-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewThe embattled commercial real estate market may finally have a few things going its way, according to recent data. AdvertisementAnd yet, lending volumes are slightly improving, Moody's said. As these lenders are most exposed to commercial real estate, some analysts have warned that hundreds of banks risk failing in the next few years. Now, some see opportunity in the real estate market. "We think this will be an attractive vintage for real estate credit," analysts Matt Salem and Dakota Sagnelli wrote, later adding: "A growing number of commercial real estate transactions should increase the number of opportunities to lend, while the dearth of bank capital should keep yields attractive and spreads relative to corporate credit elevated."

Persons: —, Moody's, they've, Matt Salem, Dakota Sagnelli Organizations: Service, Business, Wall, KKR Locations: Dakota

☆ UK leads resurgence in European office investment
▼ + stars: | 2024-09-13 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Sopa Images | Lightrocket | Getty ImagesLONDON — The U.K. is leading a recovery in Europe's long subdued office real estate market, with overall investment in the sector expected to pick up further in the second half of the year. Overall, European office investment transactions in the first half of the year fell 21% year-on-year to 14.1 billion euros, Savills data showed — a 60% decrease on the five-year H1 average. Europe's divided recoveryThe U.K. real estate market was the first in Europe to undergo a significant contraction following its peak in 2022. "London is leading the way a bit, partly because it repriced earlier and quicker and more significantly," Kim Politzer, head of research for European real estate at Fidelity International, told CNBC over the phone. Kim Politzer head of research for European real estate at Fidelity International

Persons: Mike Barnes, Savills, Kim Politzer, Marcus Meijer, Mark, CNBC's, James Burke, Tom Leahy, Leahy, Europe's, JLL Organizations: Getty, Britain, CNBC, Bank of, Fidelity International, European Central Bank, Nurphoto, U.S Locations: London, Europe, Paris, Stockholm, Berlin, Hamburg, La Défense, France, Ireland, Netherlands, Spain, Italy, Portugal, Southern Europe, Germany

☆ It looks like the commercial-real-estate market has finally bottomed out — and experts say it's time to invest
▼ + stars: | 2024-09-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewThe embattled commercial-real-estate market may finally have a few things going its way, according to recent data. That left owners with harder-to-pay debt, made worse by high interest rates and tighter bank lending. AdvertisementYet lending volumes are slightly improving, Moody's said. Related storiesMoody's expects bank lending to turn positive by the end of 2024. As these lenders are most exposed to commercial real estate, some analysts have said that hundreds of banks risk failing in the next few years.

Persons: —, Moody's, they've, Matt Salem, Dakota Sagnelli Organizations: Service, Business, Wall, KKR Locations: Dakota

☆ A man who retired at 36 built 3 passive-income streams to ditch his full-time job decades early
▼ + stars: | 2024-09-13 | by ( Business Insider | Stephanie Hallett | ) www.businessinsider.com time to read: +5 min

He took his earnings and invested them in ways that would continue to generate passive income. His main source of passive income is real-estate investmentsIn 2020, Quan earned $59,000 from investing in real estate, making up 78% of his passive income. "My general approach to ETFs is that I want a mix of growth and dividend ETFs so that I have a balanced approach within the portfolio. It's really about being balanced, because the markets grow in different ways," Quan said. In 2020, his online passive income streams generated about $10,000.

Persons: —, Michael Quan, Quan Organizations: Service, Business Locations: Nevada, Airbnb, Venice , California, San Antonio

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