Are You Ready to Invest in a Rental Property?

This is a guest post from Emily Guy Birken who writes at One Money Design. Now seems like the perfect time for investors to get started in the landlord business. The housing market is still recovering, which means that home prices are reasonable, interest rates are low, and rents tend to be relatively high. Under these circumstances, buying a rental property seems like a no-brainer. However, owning an investment rental property is not all about pushing wheelbarrows of passive income to the bank. Being a landlord comes with many risks-and just like any investment, you may not see a payoff. To know if you’re ready to handle these risks, ask yourself the following questions: 1. Do I have the necessary cash? … Read more

Reader’s Question: Is It Better To Save For Closing Costs Or Pay Down Loan?

Is It Better To Save For Closing Costs Or Pay Down Loan?

Here is the next installment in our Reader’s Questions Series which highlights questions emailed to me by you, the readers of Money Q&A, we talk about how to save for closing costs. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on a future week’s blog post. If you’re not familiar with Dave Ramsey’s book, you should run right out and get it. It is one of my top ten best personal finance books that everyone should read. Now….on to our reader’s question. Is it better to save for closing costs when you are trying to sell your home? Or, should you … Read more

Learn The Home Improvement Projects That Add Value

Find out about the home improvement projects that add value to your home’s value when I was interviewed by Ben Brashen on the Brashenomics Radio Show last week. Hear how you can get the best return on your investments that you make in home improvement projects and which projects are the best to tackle from a return on investment perspective that will increase your home value. Check out the radio interview below… The Top 3 Home Improvement Projects That Add Value 1. Upgrading your kitchen = 70% to 80% return 2. Upgrading an existing or adding a bathroom = 70% to 80% return 3. Adding energy efficient windows = about a 50% return The Top 3 Home Improvement Projects That … Read more

How to Make Preparing to Apply for a Mortgage Go Smoothly

Preparing To Apply For A Mortgage

There are a few things that you can do to make applying for a mortgage go more smoothly and give yourself a better chance of success. By preparing to apply for a mortgage correctly, you can receive the best interest rate that you qualify for and save money on your mortgage. The key is that you should start working early when you decide that you want to apply for a mortgage. Here are a few ways that you should do when preparing to apply for a mortgage. Compare Mortgage Loans The best way to get the best interest rate is to compare different mortgages with each other. Using a mortgage calculator, you can find out how much you can expect … Read more

Top 10 Things I Learned About Renting My House

How To Evaluate The Rate Of Return On Rental Property

Getting your house ready to rent is a lot like getting it ready to sell. There are several things that I have learned about renting my house along the way that have greatly helped speed up the process. And, there were a few stumbling blocks too that could have tripped me up getting my house ready to rent. Here are ten lessons that I learned about renting out my house and hopefully it will help you as well. Ten Things I Learned About Renting My House First Impressions Matter The other day we were surprised with a tree that fell down in our yard and a call from the property manager that a guy wanted to come by and look … Read more

Moving Tips – Top 10 Simple Ways to Cut Costs on Moving Expenses

Questions to Ask a Property Manager

Moving from one home to another or into your next apartment is expensive. But, there are many moving tips that can help you save money on moving expenses. I have come to find this out the hard way. For years, I have been blessed with an employer that covered all of my moving costs, but this time it is different. This time I am footing the bill by myself. You may remember that I have been interviewing property managers to help me rent out my current home. So, without my employer helping with this move, I have to find ways to cut costs on moving expenses incurred. The good news is that there are a lot of ways to cut … Read more