Many people are lured into the world of real estate investing by stories of millionaires who started their journey with no money down or no steady employment. But the reality is that making money in real estate isn’t easy; a good credit score, investment capital and steady income can help in the beginning.
You’ll also need to grasp the nuances of the local real estate market and learn how to manage financial aspects such as cash flow and property taxes. While real estate buying, selling, and renting may not be much like a game of Monopoly, it is possible to earn steady side income, supplement your retirement, or even build a full-time real estate investment business with the right tools, knowledge, and patience.
Unlike mutual funds, the stock market, cryptocurrency or many other investments, real estate is tangible. Real estate is a concrete asset—one can see, touch, and even reside in. That gives investors a sense of security. However, it also creates unique challenges.
Managed well, the stability and passive income from rental properties can be a safety net against more volatile investments.
This guide is here to clarify the process for beginners. It aims to empower you to make informed decisions, reduce risks, and lay a strong foundation for your real estate investing journey.
Benefits of Investing in Real Estate
The allure of real estate goes beyond the mere ownership of tangible assets. It presents a robust suite of financial benefits that have the potential to amplify wealth and provide stability in uncertain times. As we navigate the advantages, it becomes evident why many seasoned investors prioritize real estate in their portfolios.
Steady and Passive Income
Real estate investing, especially in rental properties, stands out for its potential to provide a consistent revenue stream. When you own a rental property, the monthly or quarterly distributions from tenants contribute to steady income, which can safeguard your finances against unexpected events or economic downturns.
This consistency contrasts with the often erratic nature of the stock market, which can fluctuate daily based on global events, company performances, and other factors. Additionally, for those aiming to attain financial freedom, the passive income generated from real estate can be a step closer to achieving that goal. Over time, as the mortgage payment decreases or remains static, rental rates may rise, increasing your monthly cash flow.
Appreciation Potential
Every investor dreams of their assets appreciating, and real estate often doesn’t disappoint. While there can be periodic downturns in the real estate market, historical trends suggest that properties generally gain value over the long run.
This means that not only can investors benefit from rental income, but they can also potentially see substantial gains when they choose to sell the property.
Tax Benefits
Navigating the world of taxes can be intricate, but real estate investors often find several advantages here. The ability to deduct mortgage interest and property taxes from taxable income can be a significant financial boon.
Furthermore, strategies like depreciation allow real estate investors to offset rental income, reducing their tax burden. Consulting with a financial advisor can help investors maximize these benefits and understand other potential tax advantages, such as 1031 exchanges or deductions related to property management.
Diversification
The saying “don’t put all your eggs in one basket” is sound investment advice. Diversification is a fundamental strategy to mitigate risks. By adding real estate to an investment portfolio, investors introduce a separate asset class that doesn’t directly correlate with the stock market or mutual funds. This can provide a buffer, ensuring that a downturn in one sector doesn’t wholly derail an investor’s financial trajectory.
Leverage
Leverage, in the context of real estate investing, refers to the ability to use borrowed capital to increase the potential return on an investment. When you purchase property with a mortgage loan, you’re often putting down only a fraction of the property’s total cost, while still reaping the benefits of its entire value in terms of appreciation and rental income.
This magnifies the return on investment, as the gains and income generated are based on the property’s total value, not just the down payment. It’s a powerful tool but should be used wisely. Over-leveraging or not accounting for potential rental vacancies can turn leverage into a double-edged sword.
Types of Real Estate Investments
As one dives deeper into the world of real estate, it becomes evident that this asset class is multifaceted, with various avenues to explore and invest in. The right choice often depends on an investor’s goals, risk tolerance, budget, and expertise. Here’s a closer look at some prominent types of real estate investments:
Residential Properties
Residential properties cater to individuals or families. They range from single-family homes to duplexes, triplexes, high-rise buildings with apartments, and other multi-unit properties. You may encounter the term “MDU” or “MUD,” which stand for multi-dwelling unit or multi-unit dwelling, to describe anything more than a single family home, or SFR (single family real estate).
Investing in residential real estate, especially the SFR market, is often a beginner’s first step due to its familiarity and the perpetual demand for housing. While these properties can be a reliable source of rental income, investors should be prepared for the challenges tied to property management, tenant turnover, and ongoing maintenance.
Commercial Real Estate
When one thinks of skyscrapers lining city horizons or sprawling office parks in suburban locales, that’s commercial real estate. These properties are tailored to businesses, and can include complete corporate headquarters or individual offices.
Commercial leases often run longer than residential ones, offering the potential for stable, long-term rental income. However, the entry point can be higher, with larger down payments and a more extensive due diligence process. Additionally, commercial real estate values can be closely tied to the business environment of the locality.
Industrial
Industrial real estate encompasses properties like warehouses, distribution centers, and manufacturing facilities. They’re integral to business operations, ensuring products move efficiently from manufacturers to consumers.
Investing in this sector can offer substantial rental yields, especially if the property is strategically located near transportation hubs. However, the nuances of industrial real estate, such as zoning laws and environmental concerns, necessitate a more in-depth understanding than residential or commercial sectors.
Retail
This sector includes shopping malls, strip malls, and standalone stores. What’s unique about retail real estate is that leases sometimes include a provision where the landlord gets a percentage of the store’s profits, termed as “percentage rent.”
In a thriving commercial area, retail properties can be quite profitable, with long-term leases and the potential for appreciating property values. However, investors should be mindful of shifts in consumer behavior and the evolving retail landscape, especially with the rise of e-commerce.
Multi-Purpose Commercial
A new breed of commercial real estate has emerged to compete with the growth of e-commerce. Multi-purpose commercial spaces blend housing units with office space and retail, often adding hospitality and entertainment venues.
Typically, these spaces are the domain of large real estate investment and property management firms. But if you invest in commercial office space or retail, you will be competing with these multi-purpose properties for tenants, so they are worth acknowledging.
Real Estate Investment Trusts (REITs)
For those not keen on direct property ownership, REITs present an attractive alternative. These are companies that own, operate, or finance income-producing real estate across various sectors. What makes REITs distinctive is that they’re traded on stock exchanges, similar to stocks.
By investing in a REIT, you’re buying shares of a company that manages a portfolio of properties, thus gaining exposure to real estate without the hassles of property management. Moreover, by law, REITs are required to distribute at least 90% of their taxable income to shareholders, leading to potentially attractive dividend yields. However, it’s essential to remember that like all publicly traded entities, REITs can be subject to market volatility.
9 Ways to Invest in Real Estate
Investing in real estate can seem tricky for beginners. But, with time and patience, anyone can master it. Focus on simple investment methods first to get to know your local property scene, meet experienced investors, and learn how to handle money wisely. As you learn and grow, you can dive into more complex investment options.
Here are some great ways for beginners to start in real estate:
1. Wholesaling
Acting as the bridge between property sellers and eager buyers, this method primarily focuses on securing properties at a rate below the prevailing market value. The secured contract is then transferred to an interested buyer, ensuring a margin for the wholesaler.
2. Prehabbing
Unlike intensive property renovations, prehabbing is about amplifying a property’s appeal through minimalistic enhancements. These properties, once given their facelift, usually attract investors with a keen eye for larger renovation projects.
3. Purchasing Rental Properties
An avenue promising consistent returns, this involves acquiring properties to lease them out. For those not inclined towards the intricacies of landlord duties, there’s always the option of hiring seasoned property management professionals.
4. House Flipping
A strategy that has garnered significant attention, house flipping involves a cycle of purchasing, upgrading, and promptly reselling properties, aiming for a profit. The emphasis is on swift transactions and keen market acumen.
5. Real Estate Syndication
Envision a collective where like-minded investors come together, pooling both resources and expertise. Such collectives venture into large-scale property acquisitions, and the ensuing profits or rental incomes are distributed among the participants.
6. Real Estate Investment Groups (REIG)
Primarily, these are conglomerates that steer their operations around real estate investments. By amassing capital from a plethora of investors, they dive into acquisitions of sizeable multi-unit residences or commercial holdings.
7. Investing in REITs
Real Estate Investment Trusts (REITs) revolve around the ownership and meticulous management of properties that yield income. However, investors don’t have to handle the management themselves. Instead, participants can relish the benefits of the real estate sector without the responsibilities of direct property ownership.
8. Online Real Estate Platforms
A fusion of technology with real estate, these platforms seamlessly connect potential investors with vetted property developers. This synergy enables backers to finance promising property ventures and, in exchange, enjoy periodic returns that encompass interest.
9. House Hacking
A blend of homeownership and investment, house hacking is about maximizing the potential of a multi-unit property or a single-family home. Investors live in one segment while leasing out the remaining portions. This dual approach can significantly reduce or even negate monthly housing expenses, serving as an excellent introduction to the world of property management for novice investors.
6 Steps to Get Started in Real Estate Investing
Starting on the path of real estate investing requires careful planning, due diligence, and a methodical approach to ensure that your investments are sound and have the potential for fruitful returns. Whether you’re dreaming of becoming a millionaire real estate investor or merely looking to diversify your investment portfolio, following a structured process can be the key to success. Here’s a step-by-step breakdown:
1. Assess Your Financial Health
Every investment journey should begin with introspection. As an aspiring real estate investor, it’s essential to have a clear understanding of your current financial standing. Ask yourself questions like:
How much capital am I willing to invest?
What are my short-term and long-term financial goals?
Do I have an emergency fund set aside?
Evaluating your risk tolerance is equally crucial. Some might be comfortable flipping houses, while others might prefer the steadiness of rental properties. Consulting a financial advisor at this stage can provide insights tailored to your financial health, enabling you to make informed decisions as you proceed.
2. Dive Deep into Market Research
Knowledge is power in the world of real estate. The local market can be significantly different from national or even statewide trends. Delve deep into understanding:
The demand for rental properties in your target area.
The average property values and rental rates.
The historical appreciation rates.
Any upcoming infrastructure projects or urban development initiatives.
Furthermore, familiarize yourself with real estate terminology. Phrases like “cap rate,” “loan-to-value,” and “operating expenses” will become a regular part of your vocabulary. The better informed you are, the more confidently you can navigate your investments.
3. Assemble Your Real Estate Team
No investor is an island. Success in the real estate business often hinges on the strength and expertise of your team. Look for professionals with a proven track record and positive reviews. Your team might include:
Real estate agents who understand the investor’s perspective.
Property managers to streamline tenant interactions and maintenance.
Lawyers specializing in real estate transactions.
Accountants familiar with the tax implications of real estate investments.
4. Explore Financing Options
The path to acquiring a property is paved with various financing methods. Traditional mortgages are common, but the real estate industry offers other mechanisms like:
Hard money loans.
Private money loans.
Real estate syndication where multiple investors pool resources.
Seller financing.
Each of these has different pros and cons, interest rates, and repayment terms. Understand each deeply to determine which aligns best with your financial strategy.
5. Analyze Potential Properties
The crux of real estate investing is ensuring that the numbers make sense. Before purchasing, assess the property’s potential for generating rental income. Break down:
Monthly mortgage payments
Property taxes
Maintenance costs
Potential vacancy rates
Your goal should be a positive cash flow, where the monthly income from the property (rent) exceeds all these expenses.
6. Negotiate and Close the Deal
Once you’ve zeroed in on a property, the negotiation phase begins. Here, understanding the property’s market value, any existing damages or repair needs, and the local real estate market dynamics can give you an edge.
When it comes to closing, be aware of all associated costs. These might include inspection fees, title insurance, and escrow fees. Being well-informed can help you negotiate these fees and ensure that you’re not overpaying.
Risks and How to Mitigate Them
Like any investment, real estate comes with its set of challenges and uncertainties. The difference between successful real estate investors and those who falter is often the ability to anticipate risks and prepare for them. Here’s an exploration of some prevalent risks in real estate and actionable steps to manage them:
1. Market Fluctuations
Real estate markets can be volatile, with property values rising and falling based on a myriad of factors.
Mitigation: To protect against market downturns, it’s essential to buy properties below their market value. Conducting comprehensive research and seeking expert investment advice can help investors make informed decisions. Remember, real estate is often a long-term game, so a short-term dip can be offset by long-term appreciation.
2. Unexpected Repairs and Maintenance
Properties can often come with surprises, from plumbing issues to roof repairs.
Mitigation: Regular property inspections can catch potential problems before they become major expenses. Setting aside a buffer fund specifically for maintenance can also cushion the financial blow of unforeseen repairs.
3. Vacancy Periods
There might be periods where your property remains unoccupied, leading to loss of rental income.
Mitigation: Properly vetting and building a good relationship with tenants can lead to longer lease periods. Diversifying your investment properties across different areas can also help, as vacancy rates might vary from one location to another.
4. Legal and Tax Implications
Real estate investors can sometimes find themselves entangled in legal disputes or facing unexpected tax bills.
Mitigation: Regular consultations with a tax professional or attorney familiar with the real estate industry can keep investors informed and protected.
Long-term Strategy and Growth
Real estate investing is not just about making a quick buck; it’s about building lasting wealth. Adopting a long-term perspective and continuously refining your strategy can pave the way for consistent growth in the real estate industry. Here’s how:
1. Define Your Real Estate Identity
Are you more comfortable with a buy-and-hold strategy, where properties are retained for long-term growth and steady rental income? Or do you thrive on the excitement of flipping houses, where properties are bought, renovated, and sold for profit? Understanding your preference can help tailor your investment strategy.
2. Reinvestment is Key
For those adopting a buy-and-hold strategy, reinvesting the rental income can substantially grow your real estate portfolio. By channeling profits into purchasing additional properties, investors can benefit from compounded growth.
3. Diversify Your Portfolio
As you gain experience, consider diversifying across various real estate sectors. Branching out into commercial real estate or exploring real estate investment trusts (REITs) can provide additional avenues for income and growth.
4. Continue Your Education
The real estate industry is continually evolving. By staying updated on market trends, attending seminars, and networking with other real estate professionals, you can adapt your strategy and seize new opportunities as they arise.
5. Scale Strategically
A real estate empire begins with just one property. With time, dedication, and a sound strategy, it’s possible to grow your holdings into a substantial full-time income. As you scale, ensure you’re not overextending; always prioritize the quality of investments over quantity.
Key Tips for Beginners
Embarking on a journey into real estate investing can be thrilling, yet the complexities of the industry can sometimes overwhelm beginners. Simplifying the learning curve is essential for novice investors to make informed decisions and find success. Here are some pivotal tips to guide those just starting out:
1. Start Small and Scale Gradually
Many millionaire real estate investors began their journey with a modest property. Purchasing a smaller, more manageable property as your first investment can help you navigate the nuances of the real estate business without being overwhelmed. As you gain confidence and experience, you can then venture into bigger and more diverse properties to scale your portfolio.
2. Prioritize Education
The world of real estate is vast and ever-evolving. Leverage online real estate platforms to learn about market trends, investment strategies, and financing options. Additionally, joining real estate investment groups can be invaluable. These groups not only provide mentorship but also offer opportunities to share resources, insights, and deals with other investors.
3. Location is Crucial
In the real estate realm, location often takes precedence over the type or condition of a property. A mediocre house in a prime location can fetch better returns than a grand mansion in a less desirable area. Research local market dynamics, neighborhood amenities, future development plans, and other location-specific factors before making an investment decision.
4. Networking is Key
Surrounding yourself with knowledgeable people can fast-track your learning process. By connecting with seasoned real estate investors, you can gain insights from their experiences, avoid common pitfalls, and even discover potential partnership opportunities. Attend local real estate seminars, join investor forums online, and participate actively in real estate conferences to grow your network.
5. Stay Updated and Adapt
The real estate industry is not static. Market conditions, property values, and investment strategies can change. Being adaptable and staying updated on industry trends will ensure you remain ahead of the curve and can capitalize on new opportunities.
6. Always Conduct Due Diligence
Before diving into any real estate transaction, thorough due diligence is imperative. From understanding property taxes and zoning laws to estimating potential repair costs and evaluating tenant profiles, leaving no stone unturned will protect you from potential setbacks.
8 Terms Beginner Real Estate Investors Should Know
Venturing into real estate can feel like you’ve entered a world with its own language. Don’t worry; everyone feels this way at the start. Knowing basic real estate terms can help you communicate confidently and make informed decisions.
Dive into these essential terms every beginner should grasp:
Appreciation: Appreciation is the increase in the value of a property over time. It’s one of the primary ways real estate investors make money, especially in growing markets. Appreciation can result from factors like inflation, increased demand, or improvements made to the property.
Capitalization rate (cap rate): Think of the cap rate as a tool to gauge the potential return on a property. It’s a percentage derived from comparing a property’s net operating income to its current market price.
Cash flow: This term captures the money dance – what’s coming in and what’s going out. In the context of rental properties, it means the rental earnings minus all the costs. Positive cash flow indicates you’re earning more than you’re spending.
Equity: Equity represents the value of ownership in a property. It’s calculated by taking the market value of the property and subtracting any outstanding mortgage or loans against it. As an investor pays down their mortgage or if the property appreciates in value, their equity in the property increases. This equity can be tapped into for various financial needs or reinvested.
Leverage: This term refers to the concept of using borrowed money, often in the form of a mortgage, to invest in real estate. It allows investors to purchase properties with a small down payment and finance the remainder. When used correctly, leverage can amplify returns, but it can also increase the risk if property values decline.
Net operating income (NOI): Simplified, NOI is the profit made from a property after deducting all operational costs. It’s your rental income minus all the expenses, showing the true earning potential of a property.
Real estate owned (REO): An REO property is one that didn’t sell at a foreclosure auction and is now owned by the bank. These properties are often sold at a lower price because banks aim to sell them quickly, making them attractive to investors.
Return on investment (ROI): In simple terms, ROI measures the bang you get for your buck. It’s calculated by comparing the profit you made to the amount you invested. The higher the ROI, the better your investment performed.
Conclusion
Real estate investing offers an avenue to diversify your portfolio, generate steady income, and potentially achieve long-term growth. With due diligence, a clear strategy, and the right team, beginners can successfully navigate the complexities of the real estate industry and lay the foundation for a prosperous investment journey. Remember, every millionaire real estate investor started with their first property. Your journey is just beginning.
With millions of visitors planning a trip to Disneyland Park in Southern California each year, you may be wondering, “Does Disneyland sell out?” Here’s what you need to know about Disneyland tickets, park reservations and what to do if Disneyland sells out.
Do Disneyland tickets sell out?
Though Disneyland tickets themselves don’t really sell out, reservations do — and you’ll need both to get into the park.
When Disneyland Park reopened its gates after the state’s shelter-in-place pandemic mandate was lifted, it introduced a reservation system. The new policy requires an advance reservation in addition to a valid ticket to get into the park, and there are a limited number of reservations available for each day.
All visitors are subject to this requirement, including Magic Key annual passholders. The reservation requirement applies to all Disneyland tickets, regardless of whether you buy one directly from Disneyland Resorts or a third-party vendor.
If reservations sell out for your preferred date, there’s not much you can do. Ultimately, buying a ticket doesn’t always guarantee you park entry.
Although Walt Disney World in Florida recently announced that reservations will no longer be required for park access with date-based tickets starting Jan. 9, 2024, Disneyland hasn’t made a similar announcement.
How Disneyland reservations work
So if you want to visit Disneyland, how do you secure a reservation?
The easiest way is to book your reservation at the same time you purchase your ticket, which you can do if you’re buying a date-based ticket. But if you’ve already purchased your ticket or have a Magic Key pass, you’ll need to make a reservation separately.
A good resource is the reservation availability calendar, which shows park availability for each day using icons that represent Disneyland and Disney California Adventure. A limited number of reservations are available for each park on any given day, and Disney doesn’t disclose exactly how many it releases.
However, you’ll know when Disneyland reservations are sold out because the date will be grayed out and there will be a slash through it.
Reservation availability may vary depending on your ticket type, your ticket’s blackout dates (if any) and other factors.
For date-based tickets, the reservation calendar is open up to 120 days in advance, with Magic Key holders able to make reservations up to 90 days in advance. Future dates become available on a rolling basis.
How to get Disneyland reservations when sold out
Currently, there’s no waitlist process for Disneyland reservations. If your preferred reservation date is sold out, you have a few options.
Choose an alternate reservation date. The simplest, but probably not the most ideal, option is choosing another date that’s available for your visit. If you need to change a date-based ticket, log into your My Disneyland account to modify your dates — just make sure you check reservation availability first.
Regularly check for updated availability. People sometimes cancel their reservations, freeing up spots for others, or Disneyland may release additional reservations on a specific day at its discretion. It’s worth checking reservation availability regularly to see if a spot becomes available.
Get a park hopper ticket. Those with a park hopper ticket or a Magic Key can make a reservation at one park and then jump to the other theme park after 11 a.m. If Disneyland Park is sold out but Disney California Adventure (DCA) isn’t, you can make a reservation for DCA and switch parks in the afternoon. Park hopping times may change, so double check on the day of your visit.
Alternative options if you can’t get into Disneyland
Learning that your desired Disneyland reservation date is sold out can be disappointing. However, if you happen to be visiting the area, there are still plenty of other ways to spend the day.
Best of all, these options are within about 30 minutes of Disneyland Park.
Downtown Disney District. Even if you’re not technically inside the park, Downtown Disney can add some magic to your day. The outdoor promenade is within walking distance of Disneyland proper, on the opposite side of the esplanade. It offers retail shops, restaurants, bars, live entertainment and Disney decor throughout.
Orange County Zoo. This 477-acre park features various exhibits of animals native to the area like the black bear, bald eagle and more. It also hosts multiple events throughout the week so visitors can learn more about the creatures.
Fullerton Arboretum. Located on the California State University Fullerton campus, the Fullerton Arboretum is a conservatory that showcases plants from around the world. Visitors can experience the entire collection across four different biomes, and the arboretum hosts special events throughout the year.
What to do if Disneyland tickets are sold out recapped
Disneyland tickets themselves don’t sell out often, but park reservations can fill up, leaving you without access to the park if you haven’t planned ahead.
The best way to ensure access to Disneyland is to make a reservation when buying your ticket, or as soon as you know when you’d like to visit.
If you’re unable to make a reservation, there are several alternatives you can try, including visiting on another day, buying a park hopper pass or checking out spots like the Downtown Disney District.
(Top photo courtesy of Disneyland Resort)
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
When it comes to perfume, the actual scent is important. But, like, I just really, really enjoy surrounding myself with pretty things — which is why shopping for perfume bottles is one of my favorite things to do. Besides doomscrolling, but that’s neither here nor there.
So many fun and unique fragrances can double as home decor without ruining the scent. And think about how creative you can get with designing your little collection of pretty perfume bottles on your dresser, bathroom vanity or even out in the living room. It’s also so fun to get a “you smell really, really good” and a “that perfume bottle looks great in your room” at the same time.
Peep below for a list of some of my favorite pretty perfume bottles that will blend right in with any home decor vibe but still actually smell good.
1. Valentino Donna Born In Roma Eau de Parfum, $130
Featuring the signature Valentino studs, this perfume bottle can be a focal point in any room. As far as the fragrance itself, it’s a healthy mix of floral with a bit of woodsy edge.
2. Maison Margiela ‘REPLICA’ Mini Coffret Set, $75 (Orig. $99)
Obviously, the REPLICA perfume bottles are part of the brand’s appeal. However, I’m an even bigger fan of the delicate mini coffret perfume bottles. Featuring cult-favorite REPLICA perfumes like Beach Walk (my absolute favorite), Jazz Club, Lazy Sunday Morning, By the Fireplace and Bubble Bath, the value is unreal.
3. Gucci Flora Gorgeous Gardenia Eau de Parfum, $133
The Gucci Flora bottle is as cheerful and Bridgerton-y as the fragrance itself. With notes of pear blossom, white gardenia and patchouli, you’re basically ready to be out in society. But, like, without the women-as-property bit.
4. Gucci Flora Gorgeous Magnolia Eau de Parfum, $133
If purple as both a color and a general vibe is more your thing, then Gucci also made a deep berry Flora fragrance.
5. Gucci Flora Gorgeous Jasmine Eau de Parfum, $133
For good measure, I’m adding this gorgeous green bottle of the Gucci Flora parfum, with key notes of jasmine and sandalwood. You know, if you want to collect them all a la Ash Ketchum.
6. Jo Malone London Nashi Blossom, $112
This modern and simple Jo Malone bottle is perfect if you’ve curated a perfectly chic and minimal aesthetic. But the big sphere on top adds the perfect touch of spice to a playful spring scent.
7. CHANCE EAU TENDRE Eau de Toilette, $110
While the CHANEL No. 5 bottle is fun and all, it doesn’t come close to the absolute perfection that is the round CHANEL CHANCE bottle. I mean, I can basically smell the fresh and fruity floral scent from just looking at the picture.
8. Marc Jacobs Fragrances Daisy, $101
OK, is there anything more iconic in the perfume world than the actual daisy on top of the Marc Jacobs Daisy perfume? I think not!
9. Fenty Beauty by Rihanna Fenty Eau de Parfum, $140
If you haven’t smelled even a whiff of the Fenty perfume, I’m sorry to tell you that your life is utterly boring. With notes of magnolia, musk and blueberry (yes, blueberry), it’s an unreal spicy and sensual scent. Obviously, the sleek amber bottle is the perfect vessel for it.
If you liked this story, check out the best-smelling fall perfumes that feel like a warm blanket in a bottle.
More from In The Know:
All my friends are wearing this Amazon best-selling tennis bracelet, and it’s only $18
Sephora just released the ultimate perfume sampler if you’ve been looking for your new signature scent
7 casual fall maxi dresses under $100 to wear with leather jackets and booties this season
Fashion creator explains why people should ‘just buy pretty things’ to improve personal style
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Viral beauty, fashion, kitchen gadgets, designer sunglasses and super cheap sheets are majorly marked down.
Today, as I head to Chicago (from the Native American word shikaakwa, for the wild onion) on my way to Philadelphia, I received this note. “Rob, why is PenFed exiting from correspondent?” Well, you should talk to your PenFed rep. But if anyone had to make a harsh guess, it would start by asking, “Why would any member-based organization with a branch network and thousands of members, in this environment, feel the need to offer wholesale or correspondent channels to others at very low margins who may be competitors?” There will be plenty of competitors under one roof at the MBA’s Annual starting Sunday. For many IMBs, their goals by going include searching for a great HELOC and/or 2nd program, seeing what’s new with down payment assistance programs, and seeing the latest in under-served markets. Another topic will of course include inflation and interest rates. Is your car insurance up 19 percent? Yesterday’s CPI said so. How about taking the family to Disneyland? A ticket to Disneyland on the most popular days is as high as $194, which is up 8 percent. A five-day ticket’s price will rise 16 percent to $480. Parking is $65. (Today’s podcast can be found here. This week’s is sponsored by NotaryCam, your partner for The Perfect Close! Ease of use, additional closing compliance, better borrower experience, reduced timelines, and cost savings, what is stopping you from getting on the RON train with NotaryCam? Listen to an interview with attorney Jay Beitel on arguments in the Supreme Court case regarding the CFPB.)
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It can cost up to 5X more to acquire a new customer than it does to keep one. So ask yourself, are you staying in touch with past borrowers the way you should? Sadly, only one in five borrowers return to their lender for their next mortgage loan. But that doesn’t have to happen to you. ICE can help you keep client relationships warm using automated marketing campaigns. Surefire℠ CRM and Mortgage Marketing Engine comes equipped with a five-year Client for Life workflow that can be used to engage past clients with award-winning content long after close. Watch borrowers pour in for their next loans when they’re ready to buy, sell or refi. To learn more, request a demo of Surefire today.
Is your focus to do more with less? A business intelligence solution should highlight where there are opportunities to incorporate efficiencies and reduce costs. The most forward-thinking industry leaders are turning to Richey May’s RM Analyze to learn what they need to know now more than ever: how to operate even leaner. It’s half the cost of a full-time employee, and you gain access to a strong bench of talent with a rich background in the mortgage industry and access to hundreds of reports, including real-time peer benchmarking data, in no time. With these insights you can make meaningful decisions for your business and do more than just survive. Learn how to operate leaner.
Capacity is bringing a brand-new feature to MBA Annual this week! Guidelines are complicated, and the search for that one specific answer can steal hours of time from your team. Get up-to-date, accurate guideline responses instantly with Capacity’s GSE Search, enabled by GPT. Just “ask Capacity” any question on regulations from Fannie Mae, Freddie Mac, FHA, and more—and get answers within seconds. Want to streamline one of the most time-consuming processes in mortgage? Schedule time with Capacity this week at MBA Annual.
Are you paying for third party rescore services? What if you had a solution to convert more loans, grow your business and exceed the expectations of clients? Rocket Pro TPO offers its partners Credit Upgrade, an expert team of credit consultants who help clients qualify for the best loan products, rates, and pricing. In fact, in 2023, this service has helped save clients about $16 million on loan level pricing adjustments. Unlike programs that charge hundreds of dollars, Credit Upgrade is free, helping you retain more clients, build real estate agent relationships, and grow organic referrals affordably. Watch EVP, Mike Fawaz’ video for more details. Interested in learning more about a Broker or Non-Delegated Correspondent partnership? Contact Rocket Pro TPO to learn more.
Fun Fact: Philadelphia is home to the nation’s oldest inhabited road, Elfreth’s Alley, whose cobblestones date back to 1702. As the MBA converges on one of our nation’s founding cities, Click n’ Close will be on hand to help lenders to address the affordability challenges facing our industry through its SmartBuy down payment assistance (DPA) suite of loan products. With no income limits and other innovative features, such as a repayable option with a 30-year amortization, a 2-1 buydown and options for manufactured homes, SmartBuy is your one-stop shop for all your DPA and affordable lending needs. And, unlike state or municipal DPA programs, SmartBuy isn’t subject to budgetary shortfalls and offers tremendous flexibility to accommodate a wider range of borrower scenarios. Visit us at booth #733, schedule a meeting with Julas Hollie from our correspondent team or visit here to learn more.
“Accenture’s analysis finds that within three years, generative AI could magnify a lender’s operating income by two to three times compared with consensus forecasts by driving revenue growth and reducing costs. On the revenue side, we anticipate it could create a 17% increase in time allocated to client interactions and advice, which are responsible for ~80% of banking revenue. This additional time could translate into a 9% surge in revenue. No lender can afford to ignore growth like that. If you’re not sure where your generative AI journey should begin, our top advice is to form a generative AI SWAT team today. This should include leaders from both the business and tech sides of the bank, and its mandate should touch on strategy, policy, talent, technology, and data. (Yes, this touches everything). We would love to hear from you and show you what we are delivering today. If you are attending the MBA Annual in Philadelphia and would like to meet with us, please ping us here.”
Post-season baseball is in full swing, and when the game and a chance at the World Series is on the line, the closer can make or break a team’s post-season success. The same can be said for real estate closings. With California passing RON legislation, now is the perfect time for The Perfect Close using NotaryCam’s eClose 360 platform. As trailblazers in RON and eClosings, NotaryCam boasts a team of highly skilled notaries who understand the unique requirements of your borrowers. With continuous updates and improvements, NotaryCam services remain at the forefront of mortgage digitalization, including recent advancements such as eNote and eVault services. If you’re heading to Philly for MBA Annual, make sure you “wind up” visiting NotaryCam at booth #721 or schedule a one-on-one meeting to ensure your mortgage closings are clutch.
Are your borrowers computing payments with a “Dumb” calculator or a “Smart” calculator? Dumb calculators are everywhere, and they’re dumb because they’re generic, inaccurate and not personalized. Smart calculators are what borrowers want. Smart calculators are personalized to the borrower. They give accurate payments and accurate closing costs because they use the borrower’s qualification criteria. You can issue Smart Calculators to your borrowers right from within Encompass® by ICE Mortgage Technology™ with QuickQual. Check out what a Smart calculator looks like here and they’ll text a sample right to your phone.
Vendor News
Attendees of next week’s MBA Annual conference in Philadelphia will be keeping an eye on the “LTV ratio:” lender to vendor. Something tells me that lenders will be in high demand. Ahead of it, let’s take a quick glance at who’s doing what.
FundingShield has entered a partnership with SitusAMC to further protect financial institutions from the rapid increase in wire and title fraud in recent years. It will create an “integrated offering for SitusAMC’s client to have direct access and straight thru processing, which is roughly 80 percent of warehouse lenders… FundingShield’s live ecosystem of service provider source bank data is the largest in the industry with over 95% coverage. Clients of SitusAMC’s warehouse lending platforms ProMerit and WLS can now benefit from direct access to FundingShield’s cost-saving and risk-reducing ecosystem via API and data integrated solutions, allowing them to uphold superior standards in data integrity, bank account verification, and counterparty compliance. ‘SitusAMC has great relationships with over 1500 financial institutions that will allow FundingShield to deliver integrated cutting-edge financial technology to combat wire fraud,’ said Ike Suri, CEO of FundingShield.”
MISMO®, the real estate finance industry’s standards organization, announced that the industry standard dataset mapping for the U.S. Department of Veterans Affairs (VA) Verification of VA Benefits (Form 26-8937) has reached “Candidate Recommendation” status, which means it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use across the industry. MISMO developed this dataset to facilitate the transformations underway at the VA. This dataset provides an industry standard for the exchange of the information required on the VA Verification of Benefits form, creating efficiency and improved interoperability within the system.
Xactus Appraisal FirewallX is connecting mortgage lenders with vetted and trained property data collectors to deliver the value acceptance + property data, PDRs, and hybrid appraisal solutions. Capable of fulfilling orders from lenders supporting Fannie Mae property data collection and Freddie Mac’s Property Data Report (PDR). Upon submitting a loan application to Fannie Mae’s Desktop Underwriter® (DU®) or Freddie Mac’s Loan Product Advisor® (LPAsm), the lender will receive a notification indicating the collateral valuation option for which the loan qualifies.
Solve Mortgage, a Non-QM wholesale lender based in Calabasas, California, is implementing the OptifiNow TPO CRM. OptifiNow TPO is a CRM platform built exclusively for wholesale mortgage lenders that includes tools designed to market to and manage mortgage broker accounts efficiently. The platform is integrated with numerous mortgage loan origination systems (LOS), includes email and SMS capabilities, and can be deployed in just 30 days.
Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, announced the addition of a suite of new dashboards to its growing Custom Dashboard Hub. Built to assist lenders in researching areas to expand their Community Reinvestment Act (CRA), low-to-moderate income (LMI) and majority-minority census tract (MMCT) lending initiatives, the six new dashboards allow lenders to penetrate areas of high growth and increase the span of actionable insights and applications for users.
The new suite of dashboards, including Census Tract, Community Reinvestment Planning and Minority Community Lending dashboards, can help lenders formulate business plans in high growth / high reward areas, identify recruiting candidates and referral partners entrenched in these areas and gain insight into baseline and comparative performance metrics.
FormFree is launching FormFree Exchange (FFX®), an industry-first marketplace where mortgage lenders can find high-intent, financially verified borrowers that meet lenders’ credit risk profiles. “Lenders can search FFX for borrowers who have demonstrated that they are ready to transact by electronically verifying their assets, income, employment and other core underwriting data. Borrowers’ financial profiles are captured and continuously updated in anonymous Qualified Borrower (QB) Medallions. Because QB Medalliions also contain CRA eligibility, DPA eligibility and a host of alternative underwriting data, FFX supports lenders who would like to extend financing more inclusively without taking on additional risk.”
Capital Markets
“Struggling to find the liquidity you need to compete? Need multiple investors for a new program? Looking to expand your options in 2024? MAXEX continues to add new sellers to its growing platform of more than 25 leading buyers of jumbo, non-QM, Agency-eligible, DCSR, scratch & dent and second lien loans. Every day, originators like you are finding best execution on a flow, forward or bulk basis via MAXEX’s exchange. Adding new investors is hard. We simplify it. Ready to learn more? Meet MAXEX at MBA Annual in Philly or visit us online.”
Driving interest rates, we learned yesterday that price growth in September came in somewhat stronger than expected, with the Consumer Price Index (CPI) rising 0.4 percent month-over-month versus expectations for a 0.3 percent gain. There was no sequential change in the year-over-year inflation rate of 3.7 percent. Excluding food and energy, prices also rose 0.3 percent. Core CPI is set to recede further in the coming year as shelter disinflation resumes, supply-related pressures ease, and consumers grow more price sensitive. However, Treasuries extended the recent selloff that’s pushed up yields in the past month, which has also driven up borrowing costs
September import and export prices kicked off today’s calendar. Later today brings preliminary October Michigan sentiment and remarks from Philadelphia Fed President Harker. Bank earnings also get under before the open when JP Morgan, Citigroup, and Wells Fargo reporting along with BlackRock and PNC Financial. We begin the day with Agency MBS prices better by .125-.250 and the 10-year yielding 4.62 after closing yesterday at 4.71 percent; the 2-year is hovering around 5.03 percent.
Employment
“Rome wasn’t built in a day, and neither was the mortgage company you built. IMBs are experiencing pressure unseen since 2008. If you’re considering selling, closing, or merging, ensure you weigh all options. Consider your financial interests and your team’s future. Companies and Teams are partnering with Service First Mortgage. When contemplating reducing perks, benefits, staff, or M&A, Trust and Transparency are key. It starts with Leadership and affects the entire team. Consider companies like Service First with financial stability because of a Significant Servicing Portfolio and Full Agency Approvals: FNMA, FHLMC, and GNMA. A Strong Balance Sheet and Multiple Warehouse Lines offer security. Robust Product Offerings provide opportunities to build relationships with controlled partnerships like builders and affinity partners. Service First recently brought on Great Western Home Loans with a commitment to preserving culture, the GW brand, while ensuring stability and growth. If you’re considering a change, email us.”
Homeowners Financial Group announces that its Founder, President and CEO Bill Rogers has been named to the HousingWire Vanguards list for 2023. The HW Vanguard Awards program recognizes C-level industry professionals whose leadership moves housing and mortgage markets forward. In the challenging post-Covid lending environment, Bill has consistently created collaborative solutions that have kept his sales force confident, upbeat, and motivated. His abundant positive energy infuses every aspect of the organization, from personal and business development initiatives that lift employees to new heights in their careers to the company’s many charitable endeavors. “Bill is a true servant leader who is exceptionally connected and accessible to his people and puts them first at all times,” says Homeowners Chief Strategic Officer Ron Stowers. “With someone like Bill at the helm, it’s no surprise that our employees are the biggest advocates for Homeowners.”
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Unsecured debts are loans or credit lines without collateral. This includes credit card debt, medical bills, personal loans and student loans. Failure to pay unsecured debt can result in collection efforts and damage to credit.
Are you overwhelmed by all the different loan options? Are you searching for a sustainable debt solution? Depending on your financial situation, unsecured debt may be the right option for you.
You can make informed financial judgments by understanding unsecured debt and its implications. This article will delve into the world of unsecured debt, explain its definition and give examples, explore the differences between secured and unsecured debt, shed light on the impact of bankruptcy and more.
Let’s explore unsecured debt and how it can impact your finances.
Key takeaways:
Unsecured debt refers to loans or credit lines without collateral.
Credit card debt, medical bills and personal and student loans are common examples of unsecured debt.
Failing to pay unsecured debts can lead to collection efforts and hurt your credit.
Prioritizing debt repayment is crucial, and understanding the differences between secured and unsecured debts can help you make strategic decisions.
What is an unsecured debt?
Unsecured debt is a financial obligation that does not require collateral. Unlike secured debt, backed by specific assets, unsecured debt relies solely on the borrower’s creditworthiness and promise to repay. Examples of unsecured debt include credit card debt, medical bills, personal loans and student loans.
Credit card debt: When you make purchases using a credit card, you accumulate unsecured credit card debt. The credit card company extends you a line of credit without requiring collateral.
Medical bills: Unforeseen medical expenses can result in significant unsecured debt. These bills typically arise from medical procedures, treatments or hospital stays.
Personal loans: You can obtain these from banks, credit unions or online lenders. They have various purposes, such as debt consolidation, home improvements and unexpected expenses.
Student loans: Student loans are used to finance education expenses. The government or private lenders offer them, and they can have long repayment terms.
What happens if you don’t pay an unsecured debt?
If you fail to pay your unsecured debt, there may be significant consequences. While specific actions may vary depending on the creditor, here are some potential outcomes to beware of:
Collection efforts: Creditors may employ collection agencies or pursue legal action to recover the debt. These efforts can involve phone calls, letters or even lawsuits.
Negative impact on credit: Unpaid unsecured debt can harm your credit. Late payments, defaults and charge-offs can contribute to a lower credit score, making obtaining future credit or loans more challenging.
Legal proceedings: In extreme cases, creditors can file lawsuits to obtain a judgment against you. This can result in wage garnishment or liens on your property.
Secured debt vs. unsecured debt
Understanding the differences between secured and unsecured debt is crucial for effective financial management. Simply put, secured debt is backed by specific collateral, such as a car or house, while unsecured debt lacks collateral. In the event of default, secured creditors can seize the specified assets, while unsecured creditors do not have this option.
Additionally, secured debtors usually need fewer eligibility requirements, their interest rates may be lower and they can qualify for higher loan limits since there is less risk from the lender’s point of view. But there can be a few disadvantages, like dealing with foreclosure, repossession or losing assets if the borrower cannot pay.
For unsecured debtors, the loan limit is usually lower, and interest rates tend to be higher. Still, there are a few advantages of unsecured loans, like there is no risk of losing assets, your credit can improve over time and you can set up the loan to require smaller payments for a more extended period.
What happens to secured and unsecured debts during bankruptcy?
Bankruptcy affects secured and unsecured debts differently. According to Chapter 7 of the United States Bankruptcy Code, unsecured debts are typically discharged, meaning you no longer have to repay them. However, secured debts may require surrendering the collateral or restructuring the debt through a reaffirmation agreement.
In Chapter 13 bankruptcy, often called “reorganization bankruptcy,” you create a repayment plan to gradually pay off your debts over a specific period, usually three to five years. Both secured and unsecured debts are included in this plan, with priority given to secured debts.
Remember that bankruptcy laws and procedures can vary by country, and the chapter designations mentioned above specifically apply to bankruptcy filings in the United States. It’s always advisable to consult with a legal professional or consultant knowledgeable about the bankruptcy laws in your specific jurisdiction.
Is secured or unsecured debt better?
Whether secured or unsecured debt is better for you depends on different factors, including your financial situation and credit, what you can or cannot risk and your goals. It is generally advisable to prioritize secured debts due to the potential collateral loss. Falling behind on mortgage or car loan payments can lead to foreclosure or repossession. However, neglecting unsecured debts can still have significant consequences, including damage to credit scores and collection efforts.
It is also important to see it from the lender’s perspective—secured debt tends to be better for them since it is less risky. Lenders can always claim the collateral so they can regain the lost funds. This makes secured debt riskier for borrowers since they can lose their assets if payments are impossible.
Unsecured debt FAQ
As you continue to explore the world of unsecured debt, we want to address some frequently asked questions.
What is an example of unsecured debt?
An example of an unsecured debt is credit card debt. When you make purchases using a credit card, you incur an unsecured debt with the card issuer without requiring collateral.
What are two types of unsecured debt?
Two other types of unsecured debt are personal loans and medical bills. Personal loans are funds you borrow from a lender without collateral, while medical bills accumulate when you receive healthcare services and don’t require collateral.
What is an unsecured debt called?
Unsecured debt is commonly referred to as personal debt. It is a financial obligation that is not tied to specific assets.
What happens if an unsecured debt is not paid?
If you don’t pay an unsecured debt, the creditor may employ collection efforts or pursue legal action to recover the debt, and your credit will likely take a hit.
Can unsecured debts harm your credit?
Defaults, collection actions and late or unpaid payments can harm unsecured debtors’ credit scores. Prioritizing timely debt repayment is crucial to maintaining healthy credit. On the other hand, your credit rating can improve if you pay on time regularly since that shows your commitment.
In conclusion, understanding unsecured debt is essential for making informed financial decisions. By grasping the concept, differentiating it from secured debt and recognizing its implications, you can strategize debt repayment and protect your credit.
Unsecured debts and credit repair
If you’re concerned about your credit, see if the team at Lexington Law Firm can help. Empower yourself with the knowledge to make informed decisions and work on your credit with our services. Reach out to Lexington Law today to get a free credit assessment and learn more about how we could help.
Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.
Reviewed By
Vince R. Mayr
Supervising Attorney of Bankruptcies
Vince has considerable expertise in the field of bankruptcy law.
He has represented clients in more than 3,000 bankruptcy matters under chapters 7, 11, 12, and 13 of the U.S. Bankruptcy Code. Vince earned his Bachelor of Science Degree in Government from the University of Maryland. His Masters of Public Administration degree was earned from Golden Gate University School of Public Administration. His Juris Doctor was earned at Golden Gate University School of Law, San Francisco, California. Vince is licensed to practice law in Arizona, Nevada, and Colorado. He is located in the Phoenix office.
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.
Editorial Disclosure:Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Snapshot: You can secure a small credit limit with a deposit ($200 minimum) and don’t need great credit to get approved for this card. You also earn 1.5% cash back on your purchases without paying an annual fee, making it a good option for those looking to rebuild their credit.
Basic Features
Ongoing APR: reg_apr,reg_apr_type depending on creditworthiness
Annual fee: annual_fees
Credit needed: Scores in the credit_score_needed range
Additional Details
1.5% cash back on every purchase
Possible upgrade to a typical unsecured Quicksilver card
Possible credit line increase after 6 months
Minimum deposit of $200 required
Fast review process – find out if you’ve been approved within minutes
Ready to learn how to apply?
Full Review of Capital One Quicksilver Secured Cash Rewards Credit Card
What You’ll Like About this Card
The Drawbacks
Is It Worth It?
FAQ
Full Review of Capital One Quicksilver Secured Cash Rewards Credit Card
As far as secured credit cards go, there are so many reasons to love this one. When evaluating secured credit cards, most of the time you want to consider the following features:
Does it have an upgrade path? (Can I use a history of on-time payments with this card to qualify for another credit card later on?)
Does it have an annual fee?
Does it report to all three credit bureaus?
As far as the Capital One Quicksilver Secured Cash Rewards Credit Card goes, it combines the best features of a secured credit card – upgrade path, no annual fee, credit reporting for building credit – with the added benefit of 1.5% cash back on all purchases. cash back rewards that you can redeem as a statement credit, apply to recent purchases, gift cards, or in other ways (Capital One has a lot of flexibility about how you can redeem your cash back).
Provided you pay off your statement balance every month to avoid interest, you can earn a decent amount of extra cash throughout the year. And with a consistent cash back rate on all purchases, you don’t have to game the system to maximize your rewards.
credit bureaus.
If you’re looking for a cash back rewards card, but are worried about being approved for a typical “unsecured” card, no worries – a secured card is the right path for you. You only need fair credit to possibly be approved for this card, which makes it good for building or rebuilding your credit.
Ready to start earning cash back on your purchases?
The Drawbacks
You Have to Pay a Deposit
To successfully apply for and open this card, you’ll have to come up with a deposit that secures your credit limit. That means you need to have a little cash set aside to start building credit with this card. Luckily, deposits start as low as $200.
credit score and your ability to make payments. Your income may be a factor in determining your credit limit.
How Soon Can I Increase My Credit Limit After Being Approved for a Capital One Quicksilver Secured Cash Rewards Credit Card?
You typically have to demonstrate strong account management and pay your bills on time for at least 6 months before you can request a credit increase or receive offers for an upgraded card.
How Good is a Capital One Quicksilver Secured Cash Rewards Credit Card for Building Credit?
This is an excellent card for building credit (it was designed for that purpose). However, you do have to keep up your end by using your card responsibly and making on-time payments every billing cycle. Even though this is a secured credit card, it’s still possible to rack up debt and hurt your credit if you don’t pay your statements.
Ready to start earning cash back on your purchases?
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.
“I think of you every time I buy soap,” says the young woman, a friend of my daughter’s from college. We are chatting at a wedding. “Triple-milled,” she continues. “Your daughter drilled this into my head.”
I’m not sure how to take this.
“Well, I’m glad some lessons have sunk in,” I say.
My son-in-law overhears this exchange and chimes in, “How about the time she said that if anyone ever smothers her with a pillow, she hopes it has a 400-thread-count, Egyptian cotton pillowcase.”
“I said that?”
He nods vigorously. I don’t recall that, but It sounds like the way I would want to go.
Though the soap-and-linen dialogue may seem trifling, it lies at the heart of a topic I’ve thought a lot about and written a lot about this past year —rightsizing. It’s the subject of my next book, which will come out in January.
Here I thought I was addressing my generation when exploring how to decide where to live, in what size house and with what stuff to create a rightsized life, but the younger generation is tuning in, too. Living a rightsized life means not only having just enough house in just the right place, but also furnishing it with the fewest, best-performing household goods possible.
The message applies to all ages.
That means choosing only those sheets, towels, soaps, knives, pans, wineglasses, furnishings and other household basics that excel at their jobs and that elevate your life. Owning fewer, higher quality items leads to living large while spending less. It’s the key to gracious, clutter-free, rightsized living.
Imagine no more sheets that don’t fit right and don’t breathe, no more towels that aren’t thirsty, no harsh bath soap that dissolves into the drain after three showers, no pans that scorch your food, no pillows that fall flat, no sofas that you avoid because they aren’t comfortable. Instead, everything you have is a pleasure to use and look at and live with. It was all money well and thoughtfully spent.
Unfortunately, many homes are filled with the opposite: subpar products that aren’t quite right, that don’t quite work, and that we continue to buy wrong, because we don’t always know how to buy them right. Then, because we feel guilty getting rid of these barely used items, they clog our cupboards, closets, and lives … unless we learn how to buy them right.
That was part of my aim when I wrote this book, because I love nice things but hate to waste money. I wanted to discover — and help you discover — the luxury of less. So I interviewed experts on the various staples needed to outfit every room of the house, from tea towels to sectionals, and teased out what makes some items exceptional and how to buy those everyday items right.
Here’s the SparkNotes version so you, too, can buy once and buy right.
Study up. Become a student of quality. Look beyond the brand, packaging hype and marketing ploys to discover the properties that make a product the best in its class. To pick great household products out from a noisy and confusing line-up, learn about the production process, the materials used to make them and when to choose one material over another: linen or cotton, crystal or glass, cast iron or stainless-steel? Understand why you should choose hand-knotted rugs over machine-made ones, triple vs. single-milled soap and the best chromium-nickel ratio in flatware (18/10).
Avoid cooking sets. Big box sets of pots and pans and knives seem like a bargain, but they contain filler pieces you will likely never use. Buy good pans and good knives one at a time.
Try before you buy. Before investing in a full set of sheets or towels, buy a pillowcase and a face towel. Use them, wash them and use them again to make sure you like the feel and function. You can also test drive area rugs by purchasing (and returning) the smallest size — 2 by 3 feet — and seeing how the colors and pattern look in your home before you invest in the 9 by 12.
Are you looking for things to sell on Etsy? If you are looking to start your own business and work from home, then starting your own Etsy store can be a great way to earn extra income from home. Last year, around 7,500,000 sellers from around the world sold items on Etsy, and there were…
Are you looking for things to sell on Etsy?
If you are looking to start your own business and work from home, then starting your own Etsy store can be a great way to earn extra income from home.
Last year, around 7,500,000 sellers from around the world sold items on Etsy, and there were over 96,000,000 active Etsy buyers around the world.*
Many, many people shop on Etsy every single day for both themselves and to find gifts to give to others. I shop on Etsy frequently for gifts, in fact! I like how I can find something a little more personal and fun by shopping on Etsy.
And, many others feel the same way too!
This is where you come in.
If you are interested in starting an Etsy store and selling items online, then this is a great place to start. Today, I want to talk about what to sell on Etsy as well as answer some common questions that you may have.
Whether you want to make a part-time income or a full-time income, Etsy can be a great platform to allow you to start your own business and work from home.
The average income on Etsy is around $40,000 to $50,000 each year, but there are also many, many Etsy sellers who are making well above that.
Of course, this depends on many factors, such as the type of item you are selling, the amount of work you are putting toward your Etsy store, how you’re getting traffic to your Etsy shop, if you have a team of people working for your Etsy store, and more.
Here are 16 things to sell on Etsy.
Below, I am going to list 16 different things you can sell on Etsy. There are links to actual tutorials that will show you how to make items such as a rug, earrings, a hat, soap, and more.
There are many different categories of items that you can sell on Etsy, so the list of things to sell on Etsy definitely does not end here. There are many different kinds of Etsy shop owners all around the world selling millions of items.
Printables
You can make and sell printables to sell on Etsy, and you don’t even have to ship anything. Your customers would be downloading printables, and you can sell them an unlimited amount of times.
You can create and sell printables for all sorts of things and events, such as holidays (Valentine’s Day, Halloween, Christmas, and more), graduation parties, baby showers, educational (teacher) printables, bachelorette parties, birthday celebrations, grocery shopping, digital planners, journals, invitations, banners, wall art, jar labels, gifts, and more.
You can learn more at How I Make Money Selling Printables On Etsy.
Stickers
You can sell both printed and printable stickers online.
Stickers are extremely popular right now and will most likely be for years to come. Stickers are used for so many different reasons, and you don’t need a ton of equipment to start a sticker business.
You can learn more at How To Make $1,000+ A Month Selling Stickers Online.
Canva Templates
You can create Canva templates to sell and make money all from your home – and never have to ship a thing.
Creating Canva templates can be a great way to make extra income because you just need to create the templates once, and you can sell them an unlimited amount of times.
A Canva template is a graphic design template that you sell to people who are looking to make an ebook, presentation, planner, and more.
You can learn more at How I Make $2,000+ Monthly Selling Canva Templates.
Pom Pom Rug
Household items and home decor, such as rugs, are fun items to sell on Etsy. There are many different designs and household items that you can make and sell, as buyers are wanting something unique.
Learn how to make a Pom Pom Rug here.
Fabric Divided Basket
Fabric-divided baskets are a great organization tool, and I have a few that are in constant use! I know many other people who have bought these as well.
For example, I use one as a diaper caddy, and I find it to be much more useful than having a big diaper cart or drawer. There are many other uses as well for a fabric basket!
Learn how to make a Fabric Divided Basket here.
Bath Bombs
Bath bombs are a fun Etsy item to make and sell and are a popular item to buy as well. This is because they make a quick and easy gift, which makes it a great item to sell on Etsy.
Learn how to make bath bombs here.
Quick And Easy Wreath
Learn how to make this modern quick and easy wreath. You can make custom wreaths year-round and take advantage of all of the different seasons like Christmas, Easter, Halloween, Thanksgiving, and more.
Learn how to make a DIY wreath here.
Crochet Hand Towel
Handmade hand towels are popular items on Etsy. These towels are relatively easy to make for beginners and easy to whip up.
Learn how to make a crochet hand towel here.
Oatmeal Honey Soap
Self-care items, such as soap, are great items to sell on Etsy. Other items related to self care may include lip balm, lotion, and massage oils.
Soap looks like such a fun item to make and sell on Etsy, and people love buying bars of soap! Again, this can make a great gift for others, so they sell easily on Etsy.
Learn how to make oatmeal honey soap here.
Sweaters
Clothing items are popular on Etsy, whether they are handmade or vintage.
A sweater is probably one of the more difficult items to make and sell on Etsy, so you will want to make sure that you price it correctly according to your time and the amount you are spending on materials.
Learn how to make a sweater here.
Boho Earrings
There are many different kinds of earrings that you can sell on Etsy, and homemade jewelry is a very popular item to buy on the website.
Jewelry is something I look for all the time on Etsy, and this is because I love how there are so many different and unique items for sale on the Etsy platform.
Plus, they make for great and meaningful gifts. Many people like to shop around on Etsy for jewelry gifts for their loved ones!
Learn how to make boho earrings here.
Fluffy Slime
Slime is a favorite of many, and it is a fun and popular item to sell on Etsy. You can see a bunch of examples of slime for sale on Etsy here.
Slime is a very popular item to buy, especially for kids. It is also fairly easy to create slime and you can easily make it at home.
Learn how to make fluffy slime here.
Clay Earrings
Clay earrings are quite popular on Etsy. You can get really creative with clay earrings and make all different kinds of shapes and colors.
Learn how to make clay earrings here.
Earrings
Here’s another fun pair of earrings that you can make at home to sell on Etsy. There are so many different styles that you can get started making!
Learn how to make earrings here.
Crochet Hat
Crochet items are popular to buy on Etsy, which means that it may be a great item for you to sell on Etsy. This is a hat pattern in sizes from toddler to adult, and there are many other types of hats that you can make and sell on Etsy as well.
Learn how to make a crochet hat here.
Macrame Coasters
Macrame projects are incredibly popular on Etsy and a hot seller. You can even branch out into selling macrame wall hangings, plant holders, dresses, bookmarks, and so many other items.
Learn how to make macrame coasters here.
Common questions about selling on Etsy
I’m sure you have questions about selling on Etsy. Below are the answers to questions such as:
What is Etsy?
What sells easiest on Etsy?
What are the best selling items on Etsy?
Is selling stuff on Etsy profitable?
How do beginners sell on Etsy?
How much does it cost to sell on Etsy? What percentage does Etsy take?
How can I find customers for my Etsy shop?
What is Etsy?
So, what is Etsy? That is a great question! Etsy is an online marketplace that was started in 2005 where you can buy and sell items from handmade items to craft supplies to vintage items.
Etsy has over 120,000,000 items listed on their marketplace and is an online website for buying handmade and vintage goods.
Etsy items are sold directly from the seller – this means that it’s different from Amazon because there is no Etsy warehouse. Instead, you would be delivering the product to the buyer.
What sells easiest on Etsy?
There are many items that you can sell on Etsy such as:
Printables
Stickers
Planners
Clothing
Homemade jewelry
Soap
And so much more. Etsy shoppers buy many different types of items, so you can see what fits you the best.
What are the best selling items on Etsy?
Best selling items are constantly changing, but they are typically items such as knitting patterns, printables, stickers, wedding items, handmade jewelry, and more.
Thanks to websites such as eRank and Marmalead, you can conduct research to see what product keywords that shoppers are searching for on Etsy.
With sites like these, you can even see who your competitors are and their daily sales, view the latest trending items, conduct research on search engine optimization, and more.
Is selling stuff on Etsy profitable?
Yes, selling stuff on Etsy can be profitable. Some items will have a higher profit margin than others, such as digital products that you don’t have to ship.
To be profitable on Etsy, you will want to see what is actually selling on Etsy (after all, you don’t want to make a bunch of things to sell only to find out that no one is buying them), make sure that you are pricing your items correctly (take a look at your competition!), take good photos of the items you are selling, get traffic to your Etsy store (such as with Etsy SEO and social media), and sell a quality product so that you can get good reviews from your customers.
Is it hard to make a living on Etsy?
Just like with any business, selling on Etsy will take hard work. Not everyone will see success, and you will need to make a plan in order to become a successful Etsy small business.
How do beginners sell on Etsy?
Etsy can be a great place to get started as it is very easy to open a shop on Etsy. Plus, Etsy has built-in traffic from customers simply searching their platform for things to buy.
Here’s a quick look at how to get started on Etsy:
Create an Etsy account
Choose a shop name
Create your first listing and build your inventory
Decide how you want to be paid (credit card, debit card, Paypal, etc.)
You can learn more about how to sell on Etsy by clicking here.
How much does it cost to sell on Etsy? What percentage does Etsy take?
Opening a small business on Etsy has a lot of positives, so they do charge a listing fee.
You can list your first item for only $0.20, and you only pay the transaction and payment processing fees (6.5% transaction fee, 3% + $0.25 payment processing fee) when you make a sale. You will want to think about these Etsy fees when determining the price of the product that you will be selling.
There is also a 15% Offsite Ads fee, and this is when Etsy pays to advertise your items across the internet (such as Facebook, Google, Pinterest, and Instagram). You only pay this fee when you make a direct sale from one of these ads, though.
Don’t forget the shipping cost as well. If you have a product that you will be physically shipping, you will want to think about what your shipping fee is.
How can I find customers for my Etsy shop?
There are many ways to get traffic and views to your Etsy shop so that customers will purchase your items.
The ways include getting found by Etsy search (when someone types what they are looking for directly into Etsy), making a visually appealing Etsy shop, sharing on social media (such as Pinterest), and more.
There are Etsy Ads as well, which is a way to advertise your products directly on Etsy. You can set your budget and choose what you want to advertise.
One fun way that I’ve noticed Etsy sellers attracting customers to their shop is by showing the process of creating your product in a short video on Instagram or TikTok. For example, there are people who record themselves making earrings or slime and posting it on their account for their business – people love watching these types of videos.
Here are some examples:
Also, remember that the photos you take of the items you sell on Etsy are so very important. This is what will help you stand apart from your competition, and it is also the only thing that your potential customers get to really look at! If your photos are not good, then they will simply go to the next shop.
What to sell on Etsy
I hope you enjoyed today’s article on what to sell on Etsy.
The list does not end here either.
There are so many other things to sell on Etsy as well, such as paintings, artwork, handmade jewelry (such as necklaces, rings, and bracelets), decorations, invitations, beads, yarn, knitting patterns, clothing, pet supplies, notebooks, furniture, pillows, party decorations, accessories, wedding products, mugs, socks, personalized gifts (such as engraved items), candles, craft kits, toys, and more.
The list is endless.
Etsy shoppers are looking for all different kinds of items to buy.
Since 2022, the Federal Reserve has raised interest rates 11 times. During the most recent Fed meeting in September, however, the central bank did not issue another rate hike. Still, many predict the Fed will raise interest rates again when it meets next in November, and interest rates could remain elevated for a while after that.
And, while the Fed does not directly dictate mortgage rates, it generally influences the real estate market.
“The Fed is likely to increase rates by 25 basis points in November, which will likely keep upward pressure on mortgage rates,” says Eric Fox, chief economist at Veros.
From there, it could be a while until rates drop.
“I think our best chance of a rate drop is late 2024 or into 2025 — whenever the economy gets bad enough that the Fed needs to lower rates to energize it,” says Mason Whitehead, a home loan specialist at Churchill Mortgage.
Explore the mortgage rates you could qualify for here.
Should you lock in a mortgage rate now?
Amidst the strong possibility that interest rates will increase further, or at least remain elevated, many experts think that homebuyers are better off locking in rates now.
“If you’re a serious buyer and need to buy in the next month or two, it’s best to lock in the rate, as they aren’t coming down anytime soon,” says Lisa Simonsen, licensed associate real estate broker at Douglas Elliman Real Estate.
But even if rates don’t end up rising, you might be better off acting now.
“I always advise locking rates sooner rather than later. We make decisions based on the information in front of us and not speculating what may happen tomorrow or next week/month,” says Whitehead.
Learn more about the top mortgage rates you could qualify for here.
Marry the property but date the rate, experts say
Buying a home and taking out a mortgage now could also be helpful from a real estate cost perspective.
“Due to a continued constrained supply of homes on the market, it is unlikely that there will be any slowdown in the upward march of house prices. The best approach is to simply purchase what you can afford today and refinance down the road when mortgage rates tick down,” says Fox. “This will allow buyers to participate in home equity gains rather than sitting on the sidelines.”
By focusing on what you can afford now, you don’t have to worry as much if it takes a while for rates to come down. And, while rates can change, you might only have one opportunity to buy a particular home.
“I like to say you date the rate and marry the property,” says Simonsen. “You can always refinance but you can’t always find your dream home.”
Keep in mind, however, that rates might not get back to their pandemic lows. While rates might seem high now, they look more reasonable from a historical perspective.
“Buyers got used to perpetually — and artificially — low interest rates. For the time being, believe this to be the new normal. I do not think we will see those artificially historic low rates in the near future,” says Nikki Beauchamp, senior global real estate advisor, licensed associate real estate broker at Engel & Völkers.
That’s why it’s important to not overextend yourself when taking out a mortgage.
“You need to be comfortable with your payment as-is and not need the rate to drop and refinance in the future to comfortably afford the payment,” says Whitehead. “Plan and budget for what is real, not what you hope for in the future.”
Focus on what you can control
Homebuyers can’t control the Fed’s policy, and many experts think that homebuyers shouldn’t get overly caught up in which way the winds are blowing.
“Those borrowers who have been most successful don’t pay attention to short-term increases and decreases in mortgage interest rates. Rather, it is best to focus on the long-term, purchase what you can afford today, participate in home equity growth, and refinance whenever possible in the future,” says Fox.
You also might be able to get some relief via seller concessions.
Ask for concessions like rate buydowns, which involve paying money upfront to reduce mortgage rates, and “potentially check to see if there is the possibility of assuming a mortgage as well,” says Beauchamp.
That said, don’t assume you’ll get these types of concessions. It probably doesn’t hurt to ask, but the market conditions might not work in buyers’ favor.
“Due to the constrained supply of homes on the market today, extensive seller concessions are not going to be widely available to offset higher mortgage interest rates,” says Fox.
The bottom line
Overall, buyers need to focus on what they can control, experts say, like finding a home within their budgets. And, that’s true regardless of rates.
“If something suits your needs and one can comfortably make it work and build equity, it is worth considering,” says Beauchamp.
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Snapshot: You can earn 1.5% cash back on all purchases with this card. Since there’s no annual fee, if you keep up with your statement payments to avoid interest, that’s easy money in the bank.
Ready to learn how to apply?
Basic Features
Ongoing APR: reg_apr,reg_apr_type depending on creditworthiness
Annual fee: annual_fees
Credit needed: Scores in the credit_score_needed range
Additional Details
1.5% cash back on every purchase
Up to 6 months of complimentary Uber One membership through 11/14/2024*
Maximize travel benefits with unlimited 5% cash back on hotels and rental cars when booked through Capital One Travel
Rewards never expire as long as the account remains open
You can now choose to redeem your rewards with Amazon purchases
No foreign transaction fees
Full Review of Capital One Quicksilver Cash Rewards for Good Credit
What You’ll Like About It
Drawbacks
Is it Worth It?
FAQ
Full Review of Capital One Quicksilver Cash Rewards for Good Credit
This card is perfect if you’re looking for a no-hassle option. Basically, if you’re looking to earn cash back on purchases, but don’t want to gamify your purchasing to maximize certain cash back categories. The answer is simple: 1.5% cash back on everything.
As far as cash back credit cards go, this card is a solid option. 1.5% cash back isn’t as high as other cards, but it’s decent. The flat rate across all purchases removes some of the complexity from using it. The pleasant exception to this is a hefty 5% cash back on certain travel purchases booked through Capital One Travel. A annual_fees annual fee is a nice bonus.
One thing to consider is that you’re going to need credit_score_needed credit to qualify for this card, which typically means a credit score of 700+.
Rewards cards often do come with fees, so it’s nice to know this one doesn’t. That means all the cash back you earn on purchases is pure profit as long as you pay your credit card statement off every month.
1.5% on All Purchases
You don’t have to figure out confusing category rotations or remember whether this card offers rewards at the pump or in the grocery store. It’s easy to earn cash back because you get 1.5% back every time you swipe.
Ready to start earning cash back on your purchases?
Flexible Cash Back Redemption Options
There are many ways to redeem your rewards. (It also seems to be something that Capital One is constantly expanding, which makes it a great option for cash back cards in general). You can get your cash back (literally) or apply it as a statement credit. You can also apply it directly to a recent purchase, which is a handy personal accounting option that makes it easier to use your cash back as a reward or to cover fun splurges.
At reg_apr,reg_apr_type, the APR on this card may be a bit high for some people. 30% is competitive for rewards cards, but if you are looking for a lower APR there are other options. (Depending on your credit and what you qualify for).
No Intro APR or Balance Transfer Offer
This card doesn’t currently offer any type of introductory APR for balance transfers or purchases, which means you can’t rack up cash back with a large purchase and then break up your payments interest-free over a year or so.
Learn more about applying for the Capital One Quicksilver Cash Rewards Card!
If you plan to use this card only on purchases you have the cash to cover and pay off the balance every billing cycle, it can be a good card to earn cash back with.
Frequently Asked Questions
What Are the Credit Limits for the Capital One Quicksilver Cash Rewards Card?
Capital One doesn’t list a minimum or maximum limit for their card. Your credit limit is determined by your credit history and ability to pay, so it depends on your income and other factors. Individuals with better credit, higher incomes or less existing debt may be more likely to get approved at the higher limits. A good credit history of paying balances over time may also lead to higher credit limit authorization.
How Soon Can I Increase My Credit Limit After Being Approved for a Capital One Quicksilver Cash Rewards Card?
You’ll need time to demonstrate responsible management of your account or improve your credit score and income situation. It’s typically a good idea to wait at least 6 months before asking for a credit increase. Credit card companies are typically unlikely to approve one before that point.
How Good is a Capital One Quicksilver Cash Rewards Card for Building Credit?
This isn’t typically a card that you’d use to build credit if you have bad, poor or fair credit. That’s because you need good credit to get approved for it in the first place. However, responsible management of the card can help you continue to build your credit in the future.
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.