How to Prepare Your Apartment if You Are Staying During a Hurricane

The summer is fast approaching, and for those who live in areas where big storms are an issue, it’s time to get ready.

In fact, recent scientific data from multiple sources, including the NOAA/Geophysical Fluid Dynamics Laboratory, notes that the strongest hurricanes occurring in regions that include the North Atlantic have increased in intensity over the past few decades. That doesn’t necessarily mean they’ll make landfall, but that could be worrisome for renters living along the coast.

hurricane landfall charthurricane landfall chart

Source: Statista

Apartment hurricane preps are essential for those of us living in multifamily communities, in particular, if you don’t live in a mandatory evacuation zone and plan on hunkering down when the big winds blow through. Hurricane season is no joke and the Boy Scout rule to be prepared most definitely applies.

Read on for a list of things to get done now, because June 1 will be here before you know it!

Download the apartment hurricane preparation checklist

Sound structure

Take a look at your windows, doors and breezeways. Is everything in good shape?

  • Report to management anything that’s amiss, from loose siding to leaky windows. If panels or shutters are available for windows or glass sliders, get them installed.
  • Don’t forget to bring in anything you might have on your patio or balcony, from furniture to plants to wind chimes. Secure them inside your outdoor storage closet if you have one or bring it all inside.
  • Do you live on the top floor? Consider hunkering down with a neighbor downstairs, if possible.

Stock up

After massive storms like Maria or Harvey, some residents in the storm’s path went without power and supplies for extended periods. According to the Washington Post, nearly 4,000 Houston-area homes were without power some three weeks after Hurricane Harvey ripped through in 2017 and there were more than 75 boil-water notices in effect.

Depending on the size of your apartment, it could be challenging, but the Federal Emergency Management Agency (FEMA) recommends storing 10 days’ worth of supplies to ensure you’ll have enough if help doesn’t arrive immediately.

  • Buy nonperishable items (canned soup, canned meat or fish, peanut butter, jelly, etc.) that will keep well. Following a serious storm, you may be without power. If you have limited kitchen space, store items under beds, in closets or wherever necessary.
  • Buy lots of drinking water in gallon jugs or plastic bottles.
  • Fill your bathtubs with tap water. This is used for flushing toilets and washing if your water supply is damaged or cut off by the storm.

Essential non-food items to have on hand

Ensure you have these necessities available and sealed in a watertight container or bag.

  • Prescription medication
  • Disposable eating utensils, plates, cups, etc., as well as trash bags
  • Glasses or contact lens supplies
  • Infant needs, such as formula, diapers, wipes and other supplies
  • Pet food
  • Feminine hygiene supplies
  • Non-electronic games (cards, board games, coloring books, Play-Doh, crayons, etc.) for children
  • Cash (ATMs may not be working or you may not be able to reach one)
  • Important documents such as passports, driver’s licenses, birth certificates and other forms of identification, as well as your insurance paperwork

First aid kit

If roads are flooded or impassable after the storm, you might not be able to reach a pharmacy if you need first aid. Prepare yourself for minor injuries with a fully-stocked first aid kit, including:

  • Bandages
  • Latex gloves
  • Non-prescription medications, such as ibuprofen (kids’ versions, as well, if applicable)
  • Scissors
  • Bandages in various sizes
  • Antibiotic ointments and disinfectants, such as hydrogen peroxide

Emergency supplies

If the power is out, you won’t be able to use many of the items around your apartment that you’ve gotten used to having a part of your everyday life. Make sure you have these essential supplies ready to go.

  • Portable phone chargers (make sure they’re charged themselves!)
  • Batteries in all sizes
  • Flashlights
  • Candles
  • Matches or lanterns
  • Manual can opener
  • Battery-powered radio
  • Whistle (to call for help if necessary)
  • Tool box

“Insure” safety

Before the storm hits, make sure your renters insurance is up to date and covers things like wind and rain damage. You may need extra flood insurance to ensure coverage.

Park smart

If you don’t have a garage or secure space in a parking structure, have a plan in place to get your vehicles to a safe area, where flooding or damage from flying debris are less likely.

Be social

Neighbors help one another in emergencies. If you don’t know yours, now is the time to reach out.

  • Exchange contact information so you can reach out in the storm’s wake to see if anyone needs assistance, or to ask for help yourself
  • Assign “captains” who can be responsible for a particular area, floor or building, who will check on residents, in particular, any who have special needs
  • Make a communication plan in the event of power and cell-coverage outages

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Source: apartmentguide.com

Moving to Las Vegas: Everything You Need to Know

If you’re wanting to move to Sin City, now is the time to do it.

There’s so much culture and diversity to embrace in fabulous Las Vegas. Despite it being known as the “City of Lost Wages,” there are a lot of opportunities when moving to Las Vegas.

The cost of living has stayed fairly low and it isn’t too crowded, especially when compared to other large urban areas. But it might not stay that way forever. Many California residents are packing up and moving here where they can afford a higher lifestyle at a fraction of the price.

So, don’t waste any time deciding if moving to Las Vegas makes sense for you. The city is expanding and you’ll want to take advantage of the growth sooner rather than later. Here’s what you need to know.

las vegas nv

Las Vegas overview

As one of the most famous cities in the world, you’ve probably heard a fair share about Las Vegas. You maybe even visited once or twice. But what you hear about and experience on a vacation is vastly different than living here.

The locals don’t hit the Strip every night and party non-stop. In fact, in many parts of Vegas, you’ll find quiet, family-friendly neighborhoods. Due to the reasonable cost of living, this city is rapidly growing into a desirable destination.

  • Population: 651,319
  • Population density (people per square mile): 4,298.2
  • Median income: $53,575
  • Studio average rent: $778
  • One-bedroom average rent: $1,236
  • Two-bedroom average rent: $1,454
  • Cost of living index: 105.7

las vegas nv

Popular neighborhoods in Las Vegas

Not all of fabulous Las Vegas is lights and excitement. Each neighborhood has its own quirks and perks. Whether you’re a young professional that’s starting out on your own or you’ve got a family, there’s a neighborhood suited just for you.

  • Summerlin: Summerlin has lots of community events like farmers markets and free activities. There’s plenty of shopping and great restaurants and it’s only about a 20-minute drive to the Strip. It’s also one of the safest communities in the city,
  • Downtown: Downtown Las Vegas was big before the Strip came along and stole the show. You’ll find lots of great restaurants and eclectic vintage shops here!
  • Centennial Hills: This suburb is known to have a little more of a “rural” vibe (or at least, as rural as it can get in a big city like Vegas). Many people who own horses choose to live in this area for the ample space it offers. It’s family-friendly and has lots of outdoor spaces like parks and splash pads for kids to enjoy on those hot summer days.
  • Arts District: Hipsters flock to The Arts District to experience the best aspects of the city without the typical over-the-top Las Vegas flair. As its name suggests, it’s full of art, along with fun second-hand and vintage stores. It was even dubbed the “least Vegas neighborhood in Vegas” by The New York Times. So, even though it’s right there near the Strip, it’s a completely different world.
  • North Cheyenne: Located near the Las Vegas airport, North Cheyenne is very convenient for anyone who travels frequently. It’s a quieter part of town and is more of a suburb, but it’s really affordable and reasonably safe in comparison to other parts of Vegas.

The pros of moving to Las Vegas

There’s no doubt that you’ll enjoy living in Las Vegas. While daily life as a resident isn’t quite as fun and exciting as a weekend getaway, there are still plenty of positive aspects of living in the city.

las vegas strip

You’ll never be bored

Much of Las Vegas is open 24 hours, so you’ll be able to do most of what you want at any point in the day. You can always access areas of the Strip and Downtown with shows, shopping, bars and clubs, many of which offer discounts to the locals. Or, you can enjoy the endless shopping and new restaurants around town. There’s also surprisingly great outdoor recreation at Mount Charleston (you can even ski there in the winter) and Valley of Fire. You can even go boating at Lake Mead.

It’s a traveler’s paradise

One of the perks of living in a city that people from every corner of the globe visit is that you have access to an international airport that has daily flights to almost anywhere in the world. If you prefer to drive, you’re between three and four hours away from Los Angeles and Anaheim — many Las Vegas residents get season passes to Disneyland and take quick weekend trips (some even make it a single day trip!). Plus, the national parks of both California and Utah are easily accessible and you can make it to plenty of them in just a few hours.

Lots of diverse and delicious food

Not only do you have access to hundreds, if not thousands, of amazing restaurants that serve every type of food imaginable, you’ll also find plenty of diverse international markets. You’ll get your pick of Moroccan, Puerto Rican, Malaysian, Greek, Peruvian and whatever other foods you like. Or, if you’re out for a night of excessive eating, you can go for one of the many buffets the city is known for.

The cons of moving to Las Vegas

With the good comes the bad — after all, no city is perfect and you’re always going to come across things you don’t like. Here are a few of the not-so-great things you can expect in Las Vegas.

las vegas desert

The heat

In other places with hot summers, it’s typically a tolerable heat and you can still do outdoor activities without feeling too uncomfortably hot. But in Vegas, the scorching hot summers make it almost unbearable anywhere that doesn’t have air conditioning. Sometimes, it’s even too hot for pools to open. And even if they’re open, the water won’t be nearly as refreshing — it feels more like soaking in a hot bath.

But if you need something entertaining to do while you’re at home during the extreme temperatures, you can test how long it takes for a scoop of ice cream to turn to liquid on the cement (times of eight seconds have frequently been reported) or you can try cooking an egg on the sidewalk!

Public transportation isn’t great

If you’re used to having access to a variety of great public transportation options like metros, buses and trams and not relying on a personal vehicle, then living in Vegas will be a major change for you. If you don’t have access to a car that you can drive around the city, you’ll spend hours waiting for and sitting on a bus, because that’s really your only other option.

You can always use ride-sharing services, but that can get pretty expensive when you consider that getting from one end of town to the other could take you upwards of 30 minutes.

It’s really dry

With it being a desert, you would expect Las Vegas to be dry. Because of that, lush greenery really doesn’t grow here. Some homes still have grass in their yard, but most people opt for desert landscaping — dirt, rocks and a few desert plants.

If you’re someone with long hair, get ready to double down on your deep conditioning routine — your hair will need it!

How to get started on your move to Las Vegas

Is the Entertainment Capital of the World the right place for you? No matter the kind of life you desire, there’s something for everyone in Las Vegas.

To get you started on your big move, check out the Moving Center for more information about planning your move, including free quotes and moving tips!

We use a rolling weighted average from Apartment Guide and Rent.com’s multifamily rental property inventory of one-bedroom apartments to determine our rent prices. Data was pulled in January 2021 and goes back for one year. We use a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.
Population and income numbers come from the U.S. Census Bureau.
Cost of living data comes from the Council for Community and Economic Research.
The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

Source: rent.com

Why Rental Properties are the Best Real Estate Investment

I have been in the real estate business for many years. I have flipped houses, wholesale properties, been an agent, own my own brokerage, and I have bought single-family rentals, multifamily rentals, college rentals, and even commercial rentals. After almost 20 years in the real estate business, I can tell you that rentals have been far away the best investment for me. And that is after flipping more than 200 houses! You can make a lot of money in real estate, you can make a lot of money as an agent, wholesaler, and flipper. But rentals can create generational wealth and will keep paying you long after you buy the property and put the work into it. With the other real estate activities, you usually must keep working or do deal after deal to bring the money in. I have created millions of dollars of net worth with my rentals in a relatively short amount of time and with a relatively small amount of money!

Why are rentals so awesome?

It took me a while to invest in rentals. I started in real estate right after college in 2002 but I did not buy my first rental until 2010. I had good timing buying right after the housing crash, but I am still buying today 10 years later in a much different market and still doing very well. Here are some of the main reasons rentals have been an awesome investment for me:

Rentals can be bought below market value

Every time I buy a rental property I get a great deal. That means I buy a property that is worth $200,000 for $150,000 or $100,000 or even less. Sometimes those properties need work or they are vacant commercial properties that need tenants. It takes work to build equity with the properties, but it puts you ahead of the game from the very beginning when you get a great deal. With every rental I buy, I increase my net worth significantly and if I am inviting in value add commercial, I can increase my net worth by millions with one property.

Rentals make money every month with cash flow

A good rental property will make money every month after paying all of the expenses including the mortgage. Even after assuming there will be maintenance and vacancies, you should have a profit. That profit will increase over time as rents rise with inflation and eventually loans are paid off. This is why rentals are an amazing retirement vehicle because you can build a steady monthly income that increases over time without eating into your savings.

Rental shave amazing tax advantages

While you own the rentals it is possible to make money but actually show a loss on your taxes. This is not illegal or tricking the IRS, it is how the IRS set up the tax code. Through depreciation and all of the deductible expenses (interest, taxes, insurance, etc), you can make that money every month, but not pay taxes on it!

Rentals will go up in value

I do not depend on my rentals to go up in value to make my money but it is a nice bonus! Some of my rentals have tripled in value over the last 10 years which is not typical but it happens. Over time, real estate will rise with inflation (2 to 3%) or higher. That does not seem like a lot, but it becomes much more when you factor in leverage.

Rentals are easy to leverage

Leverage means that you use financing. I get loans on my rentals and that increases the returns because I am buying more properties and have all of the above advantages on more properties. As I said leverage makes appreciation more valuable because while a $200,000 property increasing 5% in value increases the price by $10,000. If you put 20% down that would be a 25% return on your investment ($40,000 investment making $10,000).

Loan balances decrease with time

While you own the properties not only are you bringing in cash every month, but you are paying down the loans every month. This increases your returns greatly. While that money is not in your pocket tor usable, you can access it with a refinance and HELOC.

How much money have I made with my rentals?

I bought 16 single-family rentals from 2010 to 2015 and they all did very well. I made millions from those rentals through the advantages listed above and they brought in more than $7,000 a month in cash flow. The market changed in Colorado and it was tough to find great single-family rentals so I switched to commercial properties. I have since bought 17 commercial properties and bring in more than $15,000 a month in cash flow with the potential to bring in much more.

On one commercial property, we were able to create almost 2 million dollars in value in less than 2 years!

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While I have been in an amazing market for appreciation my rentals would have done amazingly without that as well.

I have a free book on this site that goes over exactly how and why I bought my rentals: How I Made Millions with Rentals.

Why are rentals better than other investments?

I have done very well with flips and being an agent as well, but that’s earned income that seems to disappear as fast as it comes in! I have to keep buying houses or selling houses to make money with those two businesses. Wholesaling is another way to make money in real estate that is similar to flipping where you have to keep selling deals as well. With rentals, one deal can keep paying you for life.

There is one other type of real estate investment that may beat rentals at times and that is development. Some of the richest people in the world have been real estate developers, but there comes huge risk with developing, and in most cases, you still need to keep developing and selling properties to make money.

How can you start investing in rentals?

While investing in rentals can be an amazing way to get ahead in life it is not easy for everyone. It takes time, money, and persistence to buy good rentals. A lot of people want to invest but give up after they encounter a few obstacles. While it can seem difficult to start investing in real estate here are a few pointers:

  • Look into house hacking where you buy a property to live in and rent out part of it.
  • Look into buying a house to live in for a year and then turning it into a rental later on.
  • Looking into refinancing a property you already own to get money to invest in other properties.
  • Check out my book Build a Rental Property Empire which goes over how to invest in rentals.
  • My article 101 rental property tips has a ton of advice and links to other articles as well.

Conclusion

Rental properties have been an amazing investment for me and while I do many things in real estate, they have been the best. It is easy to get distracted by the quick money, but having steady cash flow come in month after month and year after year is hard to beat!

Source: investfourmore.com

Top 10 Apartment Search Websites

Happy couple laying on floor, looking at apartment search sites on laptopShopping for a new apartment can be overwhelming. Sure, many times you can jump into your car and scour the area in search of that perfect place. But, if you need to save time —or if you live in a different city or state — most searches for a new apartment begin online. But which site do you use? Are all apartment internet listing services the same? How do you choose? These questions alone can drive any apartment seeker mad. Luckily, we did the legwork for you and found the top 10 sites you can use to find your next apartment.

No. 1 ApartmentSearch
Whether you are a professional looking to relocate for work, a college student seeking an apartment close to college, or a family seeking a newer, better, furnished apartment, ApartmentSearch has you covered. As a division of CORT, the site’s national partnerships with apartment management companies offer an unparalleled resource for market information, all while making them a one-stop shop for furnished apartments. Also, they are the only national apartment Internet listing service that pays users a $200 reward for using them. Whether you are looking to move across the state, across the country, or from another part of the world, ApartmentSearch has you covered for everything you need to make finding your new apartment easy.

No. 2 For Rent
Another one of the most regarded brands in the multi-family industry, ForRent prides itself on a great experience for apartment shoppers. They have teams meeting with your potential apartment community on a daily basis so they can bring you the most up-to-date listing possible. College students seeking a new place to live also love ForRent University, specifically designed to help them find a great apartment for college.

No. 3 Apartment Guide
One of the most established brands in the nation, Apartment Guide is one of the top respected names in the multifamily industry. Easy-to-use with a huge assortment of apartment listings, Apartment Guide brings you up-to-the-minute info on the latest rental available. Just as with ForRent, their team is on the streets and in the offices of the apartments you are keeping in mind. This means they have the latest scoop on the apartment communities you are considering moving to.

No. 4 Lovely
Looking for an apartment? There is an app for that. Only a few of years ago, Lovely hit the apartment-finding scene and took the nation by storm. Lovely’s interactive app is one-of-a-kind and is an especially useful tool for people who are out and about looking for a great new apartment to call home.

No. 5 ApartmentList
For anyone who loves a great digital experience when searching for a new apartment, look no further than ApartmentList. Both the website and app are interactive, and a joy to engage with. ApartmentList provides some of the most fun you can have when looking for a new apartment.

No. 6 Trulia
Another one of the big dogs of the real estate finding world, Trulia is also a great place to find a single family home rental and they have plenty of apartments to boot. We love the info bar at the top of its search map, which gives info on crime, schools, commute and other factors.

No. 7 Zillow
Being one of the real estate search giants has its advantages. Zillow has an expansive listing of rentals in nearly every market in the U.S. However, Zillow’s site and app are not the easiest to use when seeking a new rental. While the service provides apartment listings to choose from, Zillow truly shines if you are looking to rent a single family home, though it still has lots of traditional apartments to search among. The way Zillow groups listings together by popular criteria is a great place to start.

No. 8 Rent Cafe
Rent Cafe has a very elegant layout and feel. The added information they provide for marketplaces via their “Rent Trends” tab is especially appealing. Also, the site’s informative blog is often cited by national news sources. They have limited listings in certain markets but are a great resource for those looking in a major metro area (especially in the western half of the U.S.).

No. 9 Apartment Finder
Being one of the most established brands in the industry, Apartment Finder remains a great choice for individuals seeking a new apartment. The 3D tour in the photo gallery is a stand-out feature, and the simplicity of seeing the amenities offered by thumbnail make for a nice, interactive experience. This is an especially good choice when searching in smaller cities and towns.

No. 10 Hot Pads
Hot Pads has a terrific interactive map when you start to search by city. It also sports a handy “Get Alerts” feature so you can be updated when new options that meet your search criteria come online. It is a great option for people looking to move within the same area.

Source: blog.apartmentsearch.com

YieldStreet Review for 2021

YieldStreet is an alternative investment platform that is designed to give accredited investors somewhere to put their money other than the stock market. The company was founded in 2015 by CEO Milind Mehere.

Traditionally, investing has been reserved for wealthy individuals. But with YieldStreet, you can get started with as little as $5,000. This YieldStreet review will explain a bit more about how YieldStreet works so you can decide whether it’s a good option for you.

Yieldstreet

What is YieldStreet and how does it work?

YieldStreet is a lending platform that provides alternative asset-based investments. These alternative investments include asset classes such as real estate, fine art portfolios, commercial finance, and litigation finance. And these investments don’t rely on what’s going on with the stock market.

Getting started with YieldStreet is pretty easy, but you do need to meet two main requirements. You must be an accredited investor, and you must have at least $5,000 to invest. If you meet these two requirements, you can get set up on YieldStreet’s platform.

YieldStreet follows a five-point investment policy which states that:

  • Investments must be asset-based
  • There is a low stock market correlation
  • All asset managers are highly experienced
  • The debt is short-term
  • YieldStreet aims to offer returns between 8-15%

Once you’re signed up, you can view all of the available investments on YieldStreet’s website. These investment opportunities do close quickly, so you need to act fast if you see something you want to invest in.

Who is YieldStreet best for?

YieldStreet is best for accredited investors who have a minimum of $5,000 to invest and want to diversify their portfolio with alternative investments across multiple asset classes. To be an accredited investor, you must have made at least $200,000 in income over the last two years.

You also need at least $1 million in assets, not including your home. Obviously, this puts the company out of reach for many people.

YieldStreet is best for a savvy investor who is able to do proper due diligence and analyze the strengths and weaknesses of various loans. YieldStreet does outline some of the risks involved with each investment, but ultimately, the burden falls on you to educate yourself.

Who should avoid YieldStreet?

If you aren’t an accredited investor or don’t have $5,000 to invest, then YieldStreet is not for you. But even if you do meet these criteria, there’s a chance YieldStreet isn’t the right choice for you.

YieldStreet is best for investors who can take the initiative to evaluate risk and choose investments on their own. If you feel you might need some guidance, then this probably isn’t the right choice for you.

Pros and Cons of Using YieldStreet

There are many advantages to using YieldStreet, but it’s not going to be the right option for everyone. Listed below are some of the biggest pros and cons of using the platform.

Pros

  • It’s easy to get started: Assuming you meet the minimum requirements, it’s very easy to open your account and get started with YieldStreet. And you don’t have to start investing right away. You can take some time to get comfortable with the platform and get a sense of the different investment options.
  • High-yield investments: Once you’re ready to start investing, it’s very easy to select your investments. And each investment targets yields between 8-20%. These are returns any investor would find it easy to get excited about.
  • Transparent investments: YieldStreet is very transparent about each of its investment opportunities. You can see an overview of the investment, the terms, the individuals involved, and any other factors you should consider.
  • An alternative to investing in the stock market: If you’re looking for a way to diversify your investments outside of Wall Street, YieldStreet could be a great option for you. When you sign up with YieldStreet, none of your investments will be tied too closely to what the stock market is doing.
  • Regular payouts: The frequency of payouts will depend on each individual investment. Some investments will be paid out monthly or quarterly, while others will be paid out once cases in the portfolio settle.

Cons

  • You must be an accredited investor: If you aren’t an accredited investor, you don’t have the option to invest with YieldStreet.
  • Minimum investment of $5,000: YieldStreet requires a minimum investment of $5,000 to get started. This is much less than what other investments might require, but it will be out of reach for the average person.
  • Limited investment opportunities: YieldStreet alternative investment options can be great, but these options are also far more limited and fill up very quickly. You need to be willing to check the platform often for new investment opportunities.
  • Communication is lacking: Some YieldStreet customers have complained that the company struggles with communication regarding payouts. The company doesn’t always let you know when you can expect payouts. Instead, payouts tend to just show up in your account with no advance warning.
  • Unproven business model: YieldStreet has been doing well and has paid out high returns so far. But it can’t be overlooked that the company started in 2015 and hasn’t yet experienced an economic downturn. It is unclear how the company will perform on a long-term basis.

And while YieldStreet is upfront about what goes into each investment opportunity, there is always a certain amount of risk involved. And if you aren’t comfortable evaluating these risks on your own, YieldStreet probably isn’t the best option for you.

Does YieldStreet charge any fees?

Yes, YieldStreet does charge fees. First, it charges a listing fee, which is a flat fee that the company charges the loan originator. The company also charges a management fee between 1-4%. This covers the work that YieldStreet does to find and list the investments. These fees may seem small at first, but they can add up quickly over time.

Is YieldStreet a safe investment model?

Any investment strategy comes with a certain level of risk and YieldStreet is no exception. But according to the company, the average investor receives an annual return of over 12%.

And the company has reported that it rejects over 90% of loans for failing to meet its strict investment criteria. The fact that the company closely evaluates every available investment opportunity is reassuring.

Plus, YieldStreet is very transparent about all of its investing options. You can compare different investments and see details about each one.

And you have the option to spread out your investment across multiple classes and sectors for additional security. Plus, the company is FDIC-insured so your investments are guaranteed up to $250,000.

But just like with any other investment opportunity, there is a chance you could lose money on your YieldStreet investments. You should do your due diligence and decide whether or not YieldStreet is the best choice for you.

FAQs

How do I open an account with YieldStreet?

To open an account with YieldStreet you’ll follow the company’s simple three-step process:

  1. First, you’ll verify your identity by providing a government-issued photo ID.
  2. Then you’ll verify that you’re an accredited investor by submitting the proper documentation.
  3. And finally, you’ll fully fund your YieldStreet account.

What documentation is required to prove I’m an accredited investor?

To prove that you’re an accredited investor, you can provide the following documents. These documents must show that your net worth is over $1 million and they must be dated sometime within the past three months.

  • Bank statements
  • Statement from your brokerage accounts
  • Titles from any investment properties you own
  • Tax filings
  • An up-to-date credit report

Documents that are seriously outdated will not be accepted. And you’ll need to update this information on a yearly basis.

What kind of investments does YieldStreet offer?

YieldStreet provides access to alternative investments in the following areas:

  • Commercial and residential real estate
  • Commercial and residential finance
  • Art finance
  • Marine finance
  • Litigation finance

Investors will receive quarterly updates on all of their active investments. You’ll receive an email once investment updates become available in your portfolio.

How often will I receive payments on my investments?

The payment schedule depends on the type of investments you have. Many are paid out on a monthly or quarterly basis, but this can vary.

When you sign up for a new investment account through YieldStreet, you will receive an anticipated payment schedule. However, this is an estimate, not a guarantee. There may be extenuating circumstances that delay payments on certain investments.

Summary

YieldStreet is a good option for accredited investors who are looking for ways to invest their money in commercial or multifamily real estate, art, or marine assets. You will need a minimum investment of at least $5,000 and a $1 million net worth to get started, so the platform isn’t a good option for brand-new investors.

The biggest benefit of investing in YieldStreet is that the company is very transparent about all of its investment opportunities which makes it easy to do your due diligence before you invest. Plus, every asset targets high returns, and the company has a strong track record so far.

However, YieldStreet was founded just four years ago and has yet to go through a recession. There is no perfect investment opportunity, but the stock market has a model that’s been proven over time. It’s unclear whether YieldStreet is a viable long-term business model.

Source: crediful.com

How to Buy Rental Properties in Park City, UT

In Park City, Utah, the tourists outnumber the locals 75 to 1. The area has incredible ski conditions in the winter, as well as gorgeous summer weather that rarely gets above 90°F. The incredible snowfall makes resident ski resorts, Deer Valley and Park City Mountain, extremely popular.

Even if you don’t dig winter sports, the tourism attention – plus the fact that the city hosts the Sundance Film Festival every January – has made this mountainous community a paradise for anyone who loves good food, celebrity spotting, and a wide variety of entertainment options. All these amenities have made this vibrant resort town the ideal location for a rental property investment.

Whether you live in town or just love to visit, buying rental properties in Park City is a great way to take advantage of the more than $500 million tourism dollars that come through this incredible city every year. It’s a big step, but there’s no need to be afraid! Today, we’ll guide you through all the things you should consider when securing an investment property in this mountain paradise.

1. Explore the Ins and Outs of Investment Properties

Before diving into the market, take a deep breath and make sure the challenge of owning a home that you don’t live in full time is something that appeals to you. Whether your goal is immediate cash flow or diversifying your investment portfolio, make sure your end goal is clear. To gain some valuable perspective, speak to some local landlords or Airbnb hosts, and ask if they’ll tell you about their ownership experience.

2. Make a Budget

Any investment with as many advantages as the rental business comes with a cost. Before you head in to consult with pros to sort out your financing, you’ll need to get your own financial house in order. Sit down and figure out how much money you can save for a down payment, how much you’d be comfortable spending on repairs, regular maintenance, property taxes, and all the other expenses associated with property ownership.

3. Check Out Financing

Before you start the search for a home, you’ll need to get prequalified so you know how much financing is available to you. Homie Loans™ is a great place to start when you’re looking for homes for sale in Park City. Don’t settle for an interest rate that will cost you thousands more than you should be paying in the long run!

4. Study Up on Buying in Park City

Park City might not be large but there are distinct neighborhoods that each come with their own advantages. Before you buy, take some time to evaluate each neighborhood. When you’re looking for rental properties to buy in Park City rather than a family home, the criteria may be a bit different.

The Old Town is fantastic for walkability which is why many rentals are located there, but if you’re trying to attract a longer-term renter, a larger family home in the Aerie or Prospector neighborhoods may be a better choice. It’s also a good idea to check out the typical prices in each neighborhood, and compare them to your ideal budget.

5. Turn to a Pro for Help

When you start looking for a home or investment property, you’ll quickly realize just how many people are involved in the buying and selling process. In most traditional real estate deals, the buyer and seller are represented by separate agents who may take up to 6% of the total transaction as their fee. Then there are the other professionals: inspectors, appraisers, title officers – the list goes on. If you don’t have a central hub for your real estate transaction, it can be difficult to keep track of who you’ve hired, as well as the fees they’re owed.

6. Find a Turnkey Property

If you’re not looking to put a lot of work into an investment property before putting it out on the market for renters, look for a turnkey property. This type of property is ready for rental immediately and typically doesn’t come with any of the issues found in fixer-uppers. You’ll likely pay more upfront, but you won’t have to worry about supervising repairs or upgrades. If you live out of town but still want to buy in Park City, this is a great option.

7. Start Small

If you’re new to the rental market and you’re eager to get started, it’s tempting to jump in with a multifamily property, or one that needs some upgrades. If you’re looking for increased revenue or fun DIY projects, these might seem appealing.

However, if you’re just beginning the journey of figuring out how to buy a home in Park City, there’s no reason to rush. Start small, with an Old Town condo or a less-expensive family home away from the hustle and bustle of the city center. You can always flip the property and buy a larger rental later on, or add to your portfolio once you’re more comfortable.

Use Homie for an All-in-One Solution

Purchasing an investment property is an exciting milestone. With so many people joined by their shared love of the outdoors, great food, and physical hobbies like skiing, mountain biking, and snowboarding, Park City is an exciting and welcoming community.

When it comes to the actual purchase, buying with Homie can make your life a lot easier. Our easy-to-use service lets you browse homes, schedule tours, and talk to agents with just one click. You’ve gained the expertise and gathered together the capital, so we believe that you should get to keep all the equity, too. That’s why we’re giving qualifying buyers up to $2,500 back when you use us as your buyer’s agent. Start searching for your next Park City property today.

Source: homie.com

659: The Rise of Renter Nation: How to Succeed as Homeownership Declines with Vinney Chopra

Homeownership is falling fast, but that doesn’t mean that your real estate profits have to. Today’s guest, Vinney Chopra, believes that the decline in homeownership is creating opportunities for real estate agents, not taking them away. Listen and learn strategies for leveraging the popularity of rental properties for steady streams of passive income. If you’re interested in investing in multifamily properties, you won’t want to miss this podcast!

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FHFA extends forbearance period to 18 months

Borrowers with mortgages backed by Fannie Mae and Freddie Mac may be eligible for an additional forbearance extension of up to six months, the Federal Housing Finance Agency announced Thursday.

On Feb. 9, the FHFA extended forbearance plans an additional three months past beyond their initial 12 month expiration. With the latest edict, the agency is now allowing borrowers up to 18 months of coverage.

According to the FHFA, eligibility for the extension is limited to borrowers who are on a COVID-19 forbearance plan as of Feb. 28, 2021. The FHFA said other limits may apply to the extension but did not provide further details.

With the new extension set in motion, some borrowers may now be in forbearance through Aug. 31, 2022.

The FHFA extended its multifamily forbearance policies in December, pushing forbearance options for multifamily mortgages backed by the GSEs to March 31, 2021, though the agency has yet to say whether the latest extension will also be offered to owners of multifamily properties.


From forbearance to post-forbearance: How to make the process effective

To accommodate the large volume of loans still in forbearance, mortgage servicers must have functional, flexible and effective forbearance processes in place. Here are some actionable steps to create that process.

Presented by: FICS

Alongside its forbearance announcement, the FHFA also said the GSEs will be extending the moratoriums on single-family foreclosures and real estate owned (REO) evictions through June 30, 2021 – three months past the previous deadline set for Mar. 31, 2021. The new date matches the moratorium set by HUD for FHA and USDA loans.

According to FHFA director Mark Calabria, borrowers and the capital markets investors both benefit from consistent treatment.

“From the start of the pandemic, FHFA has worked to keep families safe and in their home, while ensuring the mortgage market functions as efficiently as possible,” Calabria said in a statement Thursday. “Today’s extensions of the COVID-19 forbearance period to 18 months and foreclosure and eviction moratoriums through the end of June will help align mortgage policies across the federal government.”

As of Feb. 22, the Mortgage Bankers Association estimates 2.6 million homeowners are in some form of forbearance. The MBA reported on Monday that the portfolios of Fannie Mae and Freddie Mac dipped down to 2.97%. The GSEs have consistently had lower forbearance rates than other owners of mortgages during the pandemic.

Economic data is starting to show some of the effects of long-term moratoriums. Black Knight’s December mortgage monitor report revealed that foreclosure starts hit a record low in 2020, falling by 67% from the year prior as moratoriums protected homeowners.

According to Black Knight, recent forbearance and foreclosure moratorium extensions have reduced near-term risk, but at the same time may have the effect of extending the length of the recovery period.

Based on the rate of improvement to date, Black Knight estimates there could be more than 2.5 million active forbearance plans remaining at the end of March 2021, when the first wave of plans reaches their 12-month expirations.

Source: housingwire.com

Your Complete Midtown, Detroit Neighborhood Guide

When you get to the Midtown Detroit area, you’ll have no lack of things to do and enjoy.

Midtown boasts several cultural gems, a revitalized retail experience and several tourist attractions. This area has a lot to offer. So, let’s have a look at where we can stay, shop, enjoy food and enjoy ourselves when in this Detroit neighborhood.

Where is Midtown in Detroit?

The ZIP code for Midtown is 48202 and it’s located in the Greater Detroit Area. The community lies along the west and east sides of Woodward Avenue, between the New Center and Downtown Detroit.

It’s also bounded on the east, west, north and south by the Chrysler, Lodge, Edsel Ford and Fisher Freeways, respectively.

map of midtown detroit

Source: Rent.com

The neighborhood of Midtown Detroit has a lot to offer, perhaps even more so than any other neighborhood in this region. It boasts many of the leading medical facilities, urban learning institutes and museums in the country. This was also once the home of the Dodge Brothers and Charles Lindbergh.

There are also Midtown Detroit apartments as well as several other housing options available. Residents, tourists and visitors can rent brownstone houses, condos, mid-rise or low-rise Midtown Detroit apartments. Here’s a look at some of the average rents to expect:

  • One-bedroom average rent: $1,219
  • Two-bedroom average rent: $1,309

Living in Midtown

Large building on the campus of Wayne University against a blue sky with sun hitting the building and trees.

Midtown Detroit has a whole lot to offer. That’s true even if you’re a tourist or staying there for some time. You get that historic value as well as a modern, liberal atmosphere to balance it all out. Here’s a bit of information about the various sectors available in this district:

Demographics

The population in Midtown Detroit is around 7,408. There’s an urbanized feeling to the place, with most residents living in rental homes. A major chunk of the population is young professionals, most of whom have a liberal mindset.

Education

Midtown Detroit is a university town and also has its own medical campus. It’s got a high concentration of medical facilities and other higher learning institutes, while its local Wayne State University is steadily growing as one of the leading research institutions in the country. In addition to public schools, there’s also the College for Creative Studies for those pursuing careers in art, design, etc.

Safety

In the past, Midtown Detroit wasn’t really known for its safety. Some sources even gave it a poor grade in this department. However, things have now changed and Midtown is one of the safest areas within Detroit.

Wayne State itself, which is the academic core of Midtown, is among the 50 safest options amongst large university campuses within the U.S.

Recreation/Entertainment

Midtown Detroit has one of the best art collections in the country. Visit the Detroit Institute of arts to take a look. If you prefer something more contemporary, head on over to the Museum of Contemporary Art Detroit. The Midtown galleries are also open. You can always take a glance back with the Charles H. Wright Museum of African American History or the Detroit Historical Museum. Top off an active day with a relaxing read at the impressive Detroit Public Library.

There are also several places to eat out in Midtown Detroit. One can opt for a variety of cuisines and delicacies, as they have food options from all around the world

Transportation

Midtown Detroit is a walkable community so you can just take off on foot. However, there are several transit systems available in Detroit itself. That’s why getting to Midtown is not a problem for anyone.

There are airport shuttles near the airport, making transportation easy for visitors and tourists. People can also use the DDOT (Detroit Department of Transportation) bus system as well as the more updated version called the SMART system (Suburban Mobility Authority for Regional Transportation). Most of the SMART routes go down the Midtown cores which is convenient for the people there.

Shopping

Once you start exploring Midtown, you’ll get some unique options. There are many handmade or hand-picked items available, with creative vendors at the helm. For everyday essentials, all kinds of grocery stores and supermarkets are also available.

10 things to do in Midtown

midtown detroit

Midtown Detroit has a number of activities and attractions available throughout the year. Here’s a quick view of 10 things you can do while in the neighborhood:

  1. Attend a concert at the Detroit Symphony Orchestra.
  2. Visit What Pipeline, a gallery featuring contemporary art.
  3. Eat at Mario’s Restaurant, which has served traditional Italian cuisine in the area for decades.
  4. Treat yourself at Avalon Cafe & Bakery.
  5. Play at the Garden Bowl, the longest-running bowling alley in America.
  6. Visit the Detroit Institute of Arts, a museum with many jewels such as Van Gogh’s and Degas’s works.
  7. Sample women’s clothing at The Peacock Room.
  8. Have a staycation at the El Moore Lodge, a green-efficient and comfortable hotel.
  9. Consume modern American food at The Block.
  10. Visit the Motown History Museum, which offers an immersive experience into the music’s development.

Finding an apartment in Midtown

No matter what your interests are or what you came to Detroit for, there’s something for everyone in the Midtown area. If you want to rent an apartment, it’ll always be just a stone’s throw from art galleries, theatres and so much more. Since the population is young and young at heart, there’s a buzz of activity all around.

Whether you’re looking to rent something in the city or out in Farmington Hills, there’s excitement everywhere you go in Detroit.

Rent prices are based on a rolling weighted average from Apartment Guide and Rent.com’s multifamily rental property inventory of one-bedroom apartments. We pulled our data in February 2021, and it goes back for one year. Our team uses a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.
The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

Source: rent.com