The thrift store scene in Las Vegas is fantastic, especially if you know where to look.
Eva Hagan
Apr. 28 2023, Published 2:52 p.m. ET
Thrift stores, as we know, are the mecca of eco-couture. You can basically find anything and everything, from designer dresses to retro furniture to electronics that may or may not work.
But, one of the best things about thrifting is how it holds the history and personality of a place, and the people that live there. For a city like Las Vegas, its flair can be discovered all throughout its stores.
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Alt Rebel
Located in the heart of the Downtown Las Vegas Arts District at 1409 South Commerce Street, Alt Rebel is a place to buy, sell, and trade gently used merchandise. If you are looking to refresh your wardrobe with some refined vintage pieces, Alt Rebel describes itself to be an upscale thrift spot, including pieces from brands like Marc by Marc Jacobs, Dr. Martens, True Religion, and Louis Vuitton.
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Opportunity Village Thrift Store
Located at 390 South Decatur Boulevard, Opportunity Village Thrift Store is not only a place to shop but a chance to support an organization that dedicates itself to empowering those with disabilities. The thrift store is owned by the nonprofit Opportunity Village, which provides workforce development, employment assistance, housing, and more for people with disabilities.
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This spot is a great place to shop for furniture, tools for those with disabilities, and all your usual thrift store finds. The store is partnered with World Market Center and local trade shows where it sources everything from vintage wall art to designer shoes, available for purchase in stores as well as online.
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Savers
With six locations in the Las Vegas Valley, Savers is an obvious choice for finding new outfits without resorting to fast fashion. Although it’s not unique to the area, Savers is a place where you can find some of the largest selections of cheap clothing sustainably.
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The Red Kat Vintage
Find new vintage pieces at 1300 South Main Street, at The Red Kat Vintage. The store is full of retro pieces, with vinyl records, eclectic accessories, and clothing to sort through. This is definitely the spot to find the coolest colors, textures, and inspiration to branch out when it comes to fashion, per Thrillist.
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Patina
If you are on the hunt for one-of-a-kind, vintage home decor, and furniture, look no further than 1300 South Main Street. Patina is known for its upscale vintage home furnishings, lighting, accessories, and apparel, all found in the heart of downtown Las Vegas. And the best part? You can shop online as well as in-store to locate your new favorites.
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Off The Threads
With two locations on the same block, at 1403 South Commerce Street and 1415 South Commerce Street, this thrift store has a unique backstory.
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Off The Threads was started by Linda Ruiz in 2018, when she was just 18 years old. Since then, Off The Threads has taken off with the help of Ruiz’s family, and Ruiz and her grandma even scored a gig as seamstresses for singer Dua Lipa for the Billboard Music Awards. At both shops, you can find racks full of vintage goodies, designer pieces, and even mystery bags for those who need a little push to expand their wardrobe.
Los Angeles is an expensive city, but if you know where to look, you can get a lot for the average U.S. rental price.
Los Angeles, or the City of Angels, is home to over 3.8 million people. And it’s no wonder why so many people call this Southern California town home. It has almost year-round sunny weather, close access to the beach, countless entertainment opportunities, endless shops to explore and hundreds of restaurants to eat at.
It’s also one of the most expensive places to live, but you can find something around the national average rent price (which falls just under $2,000) if you look carefully and focus on smaller apartments. We are going to show you several places where for you to live in Los Angeles where rent will cost about $2,000 a month.
How much apartment can you get for $2,000 in Los Angeles?
Before we dive into specific apartment complexes and locations in LA that cost less than or equal to $2,000, we are going to highlight a few cost-of-living statistics and averages.
Average rent in Los Angeles
Apartment prices will vary depending on location, size and amenities offered, among other factors. Using Rent. data, here are some of the recent rental market trends:
Studio: $2,294 per month
One-bedroom apartment: $2,765 per month
Two-bedroom apartment: $3,619 per month
We’ve done our research and found five apartment complexes that offer rentals for under $2,000 a month, making them some of the most reasonable finds in Los Angeles. Let’s take a look!
Where to live in Los Angeles for $2,000
So, your rental budget is around $2,000 per month and you’re wondering what that will get you in a city like LA? Well, here are a few hidden gems to consider when apartment hunting in Los Angeles.
AVA Studio City
Source: Rent. / AVA Studio City
Located in the Studio City neighborhood, this apartment complex has apartments starting at $1,906 per month. Sizes vary from 426 square feet to 1,576 square feet. Highlights include a washer and dryer in the unit, AC and a swimming pool. Check out this apartment if you’re looking for a reasonably priced apartment in LA.
AVA Burbank
Source: Rent. / AVA Burbank
Another AVA complex is located in the Burbank area of Los Angeles. For $1,863+ you can rent a clean, modern apartment that is dog and cat friendly. Burbank is located near the Warner Brothers lot and several other entertainment hubs. This is a lively and vibrant part of the city so you’ll have endless things to do. Close by is a Vons, Trader Joes, Ralphs and Whole Foods — everything you need.
Ferrante
Source: Rent. / Ferrante
Ferrante is a beautiful apartment complex that offers studios to two-bedroom apartments in the $1,972+ price range. Located in downtown LA, you’ll be in the center of the action but have a quiet, serene place to call home at the end of a busy day. Amenities include a swimming pool and fitness center on-site.
The Cleo
Source: Rent. / The Cleo
The Cleo is an apartment complex that rents studios to two bedrooms in the $1,918 range. Located in Koreatown, you are near different grocery stores and shopping areas close by.
This apartment complex has a high walking score, meaning the area is walkable to get to the main places you may need to go. Apartment features include large closets, assigned parking and patio space. You’ll also have access to a fitness center and a swimming pool.
Living at NoHo
Source: Rent. / Living at NoHo
NoHo, or North Hollywood, is commonly considered the Arts District of the city. Located close to Universal Studios, it’s a hopping part of the metro. You’ve got shops and restaurants, grocery stores and coffee shops nearby, as well.
Floor plans vary and prices for rent go as low as $1,276 per month. So, you can find a place that gives you the added value of being in the heart of the city.
Consider other costs associated with living in LA
Now that you’ve seen some options for apartment rentals, don’t forget to add up the cost of utilities and other living expenses. Here are some other figures to pencil in when you’re planning a move to California.
These are just some of the basic costs associated with living. You’ll also need to factor in things like transportation, childcare, clothing, healthcare and entertainment. Once you’ve found an apartment that meets your needs, you can pencil in the other costs and finalize your budget, as well.
Find your perfect LA apartment
Now that you’ve seen some options of where to live in Los Angeles, you can decide if this city is right for you. Check out our comprehensive rental market data for more information or use our Rent. apartment finder tool for LA to find a home that you’ll love coming home to.
While the price tag is hefty in LA, you’re sure to love the mild climate, the entertainment scene and the endless miles of blue Pacific Ocean.
I have been an agent and investor for almost 20 years and I have seen many market cycles. A lot of people think we are due for another housing market crash because housing prices have skyrocketed, people cannot afford homes, and there could be economic problems. Besides these factors, there are many things that drive the housing market. What really drives market prices is supply and demand, which is impacted by these factors and many more. The last crash that occurred in the United States from 2006 to 2012 was the worst in the history of the country, it was worse for housing than the great depression. It took extraordinary circumstances to create that crash and it will not easily happen again. Could it happen? yes Will it happen? Maybe. When will it happen? No one really knows. Even with Covid-19 causing chaos, there is no guarantee a crash will happen.
What caused the last housing crash?
I started my real estate career in 2002 before the last housing crash. I could see something was off in the real estate market but I was young and did not know what all the signs were indicating. It was not uncommon to see:
Loans that were 120 percent of a house’s value
Investors buying multiple properties with nothing down
People with no income buying houses with a no money down loan
People simply stated what their income was to get a loan with no proof
6-month ARMs with the payments doubling soon after buying the house
Something seemed off to me but everyone seemed to be happy! Then the bottom dropped out of the market. The banks realized that many people could not pay back their loans and there were too many houses being built for the people who could actually buy a house.
Crazy lending guidelines caused overbuilding and when the party stopped, there was a crash. Prices dropped and more foreclosures occurred because many people had no equity. Banks panicked and tried to sell all their distressed properties at once.
It was the perfect storm and the worst crash in the history of the United States housing market. The big question is can that happen again? I personally do not think so and I will tell you why below.
Are there really too few houses?
Supply is affected by foreclosures, homeowners’ willingness to move, new construction, and many other factors. Demand is driven by the economy, lending guidelines, potential homeowners’ confidence, wages, and much more. I believe the supply and demand affecting today’s housing market is much different than what drove the last housing boom. While prices could level out or decrease in some areas, I do not think we are in for a nationwide crash.
In order to have a crash, we need an oversupply of homes or the demand for homes to disappear. I do not see either scenario happening, even if the economy loses steam or crashes. Some of the stats I show in this article will show you how different the supply side is right now than it was prior to the crash.
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How many housing crashes have there been?
Many people believe that because of the huge increases in prices, a crash is imminent.
“Just look at what happened in the mid to late 2000s. Prices are so crazy now that a crash has to come soon!”
The first thing you have to realize is that the last crash was the worst crash we have ever had. It was worse than the great depression. Those crashes do not happen over and over again. An increase in prices does not mean a crash is coming. Prices can increase or decrease, but that is what happens in a healthy market. A crash is much different from a down market. Other countries have seen increasing prices for decades without a crash. Just because prices go up does not mean they go down. In fact, due to inflation prices will continuously increase over time and they have increased over time.
There are also a lot of people trying to sell books, products, and coaching based on the impending doom that is coming. Be careful buying into what people say based on their motives. Look at the data!
The chart below shows the median sales price in the United States since 1959. As you can see, prices can fluctuate but in the long run, they have always gone up.
Won’t a recession cause a housing crash?
The last crash was the biggest in recent memory and if you look at the data further back it is the same with small adjustments. A lot of people will also tell you we have a housing crash or recession every 10 years. If you average them out we have recessions every 18 years, but not always true for the housing market. The dot com recession did not affect housing much at all. Sometimes we have a recession 5 years after the last one and sometimes we have it 25 years after the last one. Even if we did have a recession every 18 years we have a long time to wait since the last recession was ten years ago.
The chart below shows unemployment in the US, which is a great indicator of recessions. https://fred.stlouisfed.org/series/UNRATE
You can see from the chart that recessions are not every 18 years, but all over the place.
There are also a lot of people who have been predicting a crash for many years. There are people on YouTube promoting their gold and silver businesses by talking about how real estate will crash. One of the big marketing messages they use is that they predicted the last crash! Well, if you look at their predictions they have been predicting a real estate crash every year for the last three decades. They were bound to get it right one of those years! I was an REO (foreclosure) broker during and after the last crash and there were many people talking about how there was going to be a double-dip recession in 2012. We were going to have a tsunami of foreclosures and it would be much worse than the crash we just went through. Well, it never happened, in fact, the opposite happened.
No one knows for sure what will happen to the housing market. It could go up, it could go down, it could crash. But just because it crashed before when prices were high, does not mean it will crash again.
The video below goes over the possibility of a housing crash as well:
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Will Covid-19 cause a housing market crash?
Many people are now saying that coronavirus and its impacts will cause a housing market crash. The interesting thing is that since the coronavirus started, housing prices have increased in many areas! The supply of homes has decreased because many sellers took their homes off the market. This caused prices to increase because the demand for homes has stayed relatively stable. There are the same amount of buyers fighting for fewer homes.
It is true that many people let their mortgages go into forbearance or are behind on rent. The CDC halted most foreclosures for the rest of the year. There has to be a crash right! There will be so many foreclosures being dumped on the market and that will cause prices to drop.
Foreclosures do not cause a housing market crash. Every healthy market has foreclosures. The last crash was caused by millions of foreclosures coupled with too many houses being built. Foreclosures by themselves can cause a downturn but not a crash.
It is also important to remember that Covid-19 will not automatically cause a flood of foreclosures. The government will do everything they can to stop foreclosures and in some states, it takes years to foreclose. Many people also have equity in their homes which means they can sell them instead of letting them default back to the bank.
Home mortgages are harder to get than ever
One of the main reasons people say there will be another crash is that loans are easier to get again!
In 2005, subprime loans were rampant and as a result, the country over-leveraged itself. Subprime loans, the riskiest loan type given to borrowers with low credit scores, totaled more than $620 billion. Now, subprime originations are only 5 percent of the mortgage market and add up to $56 billion. Compare that to 2005 when subprime origination made up 20 percent of the market. This represents a 91 percent decline from the height of bad loans that set up the economic crash.
Source: Inside Mortgage Finance; Equifax
Not only has subprime lending seen a major decline, but mortgages have also become much harder to attain due to stringent lending standards. Loans are still very hard to get compared to before the last crash. This is greatly due to the type of borrowers able to qualify for loans. The current average credit score for borrowers being granted mortgages is 739. In October 2009, the average FICO score was 686, according to Fair Isaac. The lowest one percent of mortgages issued have credit scores averaging 622-624. Compared to the average range in 2001 of 490-510, the standard to get financing has risen substantially, and as a result, the likelihood of default has dropped. Lenders have done this to ensure the economy doesn’t again become propped on bad loans like it was leading up to the Great Recession.
The chart below shows that loans are even harder to get than right after the housing crash. https://www.urban.org/policy-centers/housing-finance-policy-center/projects/housing-credit-availability-index
As you can see, it is not easier to get a loan, in fact, it is harder!
Investors have even stricter lending guidelines and must put 20% down. There are stricter debt-to-income levels for investors and some banks even limit the number of loans investors can have. It is much tougher to get a loan now than almost any other period in the last century.
Is the United States housing market unaffordable?
Another reason people say the market will crash is that housing is not affordable for most people and it has to crash.
It is true that the affordability index continues to be stacked against potential home buyers. As housing and rental prices steadily increase, wages continue to stay relatively stagnant. Historically, the average income-to-housing cost ratio in the U.S. has hovered near 30 percent, but in some metro areas, that number is currently closer to 40 and even 50 percent! This strips away the opportunity to save money as a significant portion of a person’s monthly income is going to keep a roof over their head.
Source: U.S. Census Bureau
However, the United States is still much more affordable than in many other countries. Many of those countries have not seen a huge crash. People tend to find ways to buy homes, even when they are very expensive. Affordability in itself will not cause a crash. Although, it could cause a slowdown.
Some of these charts are a few years older, but it’s tough to find updated information. As you can see there are many other markets that have higher prices than the US (even after our last rise) and did not have a housing crash, or they recovered very quickly after a smaller crash. Simply having high prices does not mean a crash is coming.
Why is supply so low?
The biggest factor causing the housing market to increase today is low inventory. The last crash was caused by horrible lending guidelines and overbuilding. We will continue to have low inventory until building picks up, and it simply has not happened. I cannot see another crash occurring until we see more new starts.
The graph below shows new building starts in the United States and as you can see there was a record low building for many years after the crash. We just got back up to the average number of new builds when Covid-19 hit and it dropped again.
There simply are not enough houses for people.
This is why prices continue to increase in the United States. The population is growing and there are not enough houses to meet the demand for everyone who wants to buy a house.
We could absorb a lot of foreclosures and still have a healthy market, a more healthy market than we have now. Having an increase in foreclosures will not crash the market. We would also need an increase in new builds which is not happening at the pace of market demand.
Will migration and population cause a crash?
Another popular theory is that baby boomers will die off and there will be too many houses for those still alive. This idea was pushed back in the early 2000’s by Robert Kiyosaki. While there were a lot of baby boomers born, there are currently more millennials than baby boomers. The millennial generation is actually increasing thanks to immigration. There are fewer people being born now, but those people will not be of house buying age for decades. It is predicted the US population will keep increasing for decades. Other countries have had decreasing populations and have not seen decreasing prices.
This article goes into more detail on baby boomers and a housing crash.
Will interest rates cause a housing crash?
Another prediction is that interest rates could rise and cause a crash. This theory is based on nothing but a guess as rising rates have never caused a crash in the past. Interest rates were 18% in the early 1980s and there was not a crash. While it seems logical that prices decrease when rates increase because houses get less affordable it does not happen. The mortgage rates on a house are typically locked in for many years. If interest rates go up it will cause fewer people to move which will decrease inventory even more! The video below has more details on this.
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Why are others predicting a crash?
A lot of people are predicting a crash, but why? If the data shows that a crash is most likely not going to happen why would they predict one?
Here are some of the people who are predicting a crash:
Gold and silver sellers who want people to invest with them and not in real estate
Stockbrokers who want people to buy stocks and not real estate
Real estate investors who are selling coaching programs about how to survive a crash
Anyone who is trying to get their name in the news or create a catchy headline to sell something
People who want cheap housing prices so it is easier to invest.
Not everyone who is predicting a crash has an ulterior motive but many do. Some very smart people are predicting a crash who may not know exactly how real estate works either. You have to be very careful who you listen to when it comes to real estate and predictions.
What can we predict?
I buy a lot of house flips and rental properties. One of the most important rules of thumb I work by is to never base my purchases on what housing prices might do. If I am flipping houses or buying rentals, I never assume prices will go up. I base my investment strategies on today’s prices. I also have a plan in place if the market decreases. Yes, we have seen huge price increases, but that does not mean prices will keep going up or that they could not go down. One of the easiest ways to get yourself in trouble is to invest in real estate because you think prices will increase.
I do not try to predict the market and most economists will not predict it either. There are too many variables to know what will happen and predicting when it will happen is even harder. If someone says they know exactly when a crash or downturn will happen, they are probably trying to get attention or sell something!
The market could go up or it could go down. The great thing about real estate is you can make money in every market if you know what you are doing.
Conclusion
The factors that caused the last crash do not exist in today’s market.
There is not overbuilding, in fact, there is too little building.
There are not loser lending guidelines, in fact, there are more strict lending guidelines.
While foreclosures may increase, there are much fewer than before.
Rising prices and unaffordable housing do not cause a crash. They could cause a downturn or cause prices to level out, but a crash is much different than a downturn. If you are waiting for a crash to invest or buy, you may be waiting a very long time!
Many people want to buy investment properties because of the fantastic returns they can provide. However, many people do not have the 20 percent down payment (or more) that most banks require. There are ways to buy an investment property with little money down. The easiest way to buy an investment property with less than 20 percent down is to buy as an owner-occupant and later rent out the house, but there are many other options for investors as well. Using a line of credit, refinancing your home, house hacking, the BRRRR method, or even credit cards can provide ways to buy investment properties for less money. Seller financing is a great way to put less money down on a rental property if you can find sellers who are willing. A more advanced technique is to use hard-money financing that you can refinance into a conventional loan. Whatever way you choose to buy a rental property, research the method to make sure that it is legal in your state, your lender approves it, and that you are not stretching your finances too thin.
How much money down do most banks require?
An investor will have to put down at least 20 percent to buy a property from a typical bank. If you own more than four properties, that figure can increase to 25 percent down, providing that they are even willing to finance more than four properties. On top of the down payment, an investor will have to pay closing costs, which can range from two to four percent of the loan amount. It is very expensive to buy an investment property using financing from a typical bank. I have found a great portfolio lender who will finance as many properties as I want with 20 percent down, but they are not easy to find. Once you factor in repairs, carrying costs, down payment, and closing costs it can cost as much as $30,000 to buy a $100,000 rental property.
The video below goes over ways to buy with little money down as well:
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How to buy as an owner-occupant
The easiest way to buy an investment property with little money down is to buy as an owner-occupant, satisfy your loan requirements, rent out the property, and keep it as an investment. Most owner-occupant loans require the buyer to occupy the home for at least a year. Once that year is up, you can rent out the house and turn it into an investment property. There are many owner-occupied loans available, with down payments ranging from 0 to 5 percent down. You can put as much money down as you want if you want to put 20 percent down or even 50 percent down. USDA and VA have great no-money-down programs and little to no mortgage insurance, which will save an investor a lot of money each month. You will have more costs with little money down loans because mortgage insurance is required. Mortgage insurance can add hundreds of dollars to your house payment and eat away at your cash flow. The process of buying as an owner-occupant and then turning the house into an investment property is as follows:
1. Buy a house as an owner occupant, which will cash flow when you rent it out.
2. Move into the house and live there for at least a year.
After the year is up, find another house that will cash flow and purchase that home as an owner-occupant.
4. Move out of the first house and keep it as a rental. Move into the new house and repeat the process every year!
Eventually, you will be building up equity and extra cash flow, which will enable you to buy properties with a 20 percent down payment. Repeating this process 10 times would be an excellent way to get started, but no one wants to move ten times in ten years. It can also be tough to convince your family to live in a home that would be a great rental.
Low down payment owner occupant loans
If you are going the owner-occupant route there are many loans available that have from very little to nothing down required.
FHA loan
FHA loans are government-insured loans that can be obtained with as little as 3.5 percent down. You can only have one FHA loan at a time unless you have extenuating circumstances like a job relocation. You do have to pay mortgage insurance on FHA loans, which I will discuss later in this article. There are limits to the amount an FHA mortgage can be, which varies by state and even city.
USDA loan
USDA is a loan that can be used in rural areas and small towns. The loan can’t be used in medium-sized towns or large towns/metro areas. The loan is a fantastic loan for those that qualify and want to buy a home in the designated areas. USDA loans can be had with no money down, but do have mortgage insurance as well.
VA loans
VA loans are run through the United States Veterans Administration. You have to be a veteran to qualify for the loan, but they also can be had with no money down and no mortgage insurance! VA is a great option for those that qualify because the costs are so much less without mortgage insurance.
Down payment assistance programs
Many states have down payment assistance programs. In Colorado, we have a program called CHFA. The program helps buyers get into owner-occupied homes with very little money down. CHFA actually uses an FHA loan but allows for less than a 3.5 percent down payment. Check with lenders on your state to see if you have any programs that help with down payment assistance.
Conventional mortgages
Even conventional mortgages have low down payment loans available for owner-occupants. For owner-occupants, conventional loans have down payments as low as 3 percent. You will most certainly have to pay mortgage insurance with any conventional loan that has less than 20 percent down. Unlike some of the other loan options available, you can have as many conventional mortgages in your name as you want as an owner occupant.
FHA 203K Rehab loan
An FHA 203K rehab loan allows the borrower to finance the house they are buying and repairs they would like to complete after closing. This is a great loan for homes that need work, but the buyer has limited funds to repair a home. There are more costs associated with this loan upfront because two appraisals are needed and lenders have higher fees for 203K loans.
NACA Loans
NACA is a non-profit program with:
No down payment
No closing costs
No points or fees
No credit score consideration
Below market 30-year and 15-year fixed-rate loans
This sounds like it is too good to be true, and it is a great program. However, you do not simply apply for the loan and hope the lender approves you. You must take classes, and even host classes when in the loan program.
More details are on the NACA site.
What loan costs does a buyer need to consider besides the down payment?
On almost any loan you will have more costs than just the down payment. The lender will charge an origination fee, appraisal fee, prepaid interest, prepaid insurance and possibly prepaid mortgage insurance. Plus you may have more costs the title company charges like a closing fee, recording fees, and possibly title insurance. In most cases, the seller pays for title insurance, but with HUD and VA foreclosures the buyer has to pay for title insurance. These costs can add up to another 3.5 percent of the mortgage amount or sometimes more. When you talk to a lender they can give you an estimate of exactly how much these costs will be before you get your loan.
Can you ask the seller to pay closing costs?
Even though the lenders and title company will charge you more fees than just the down payment, that does not mean you have to pay that upfront. You can ask the seller to pay closing costs for you. If you can get the seller to pay your closing costs for you, loans like VA and USDA may be obtained with no out-of-pocket cash. You may still have to put down an earnest money deposit, but that can be refunded at closing in some cases. When you ask the seller to pay closing costs, it reduces the amount of money they are getting from the sale so you might actually be paying more for the home than if you didn’t ask for closing costs. But in my mind paying a little more for the house and financing those costs to save cash is better than paying more money out-of-pocket for a little cheaper home.
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House Hacking
House hacking is when you buy as an owner-occupant but you buy a multifamily property instead of a house. By purchasing a multifamily property you can live in one unit while you rent out the other units. This strategy allows you to rent the property faster, which may mean the bank will be more willing to give you a new loan as soon as you are ready to move out. You will also have help from the other tenants to pay your mortgage. In some cases, you may be able to live for free while you own the house because the other rent covers your costs.
Virtual real estate
Yes, you can now buy virtual real estate! This is land in the metaverse that only exists digitally. Some pieces of virtual real estate have sold for millions of dollars and others can be bought for almost nothing. Here is some more information on getting started!
BRRRR Method
BRRRR stands for buy, repair, rent, refinance, and repeat. It is a great way to get into rentals with less money down. You will need to get an awesome deal to make this strategy work, but you may be able to get all of your money back. You buy a house that is an amazing deal, fix it up, rent the property, and then refinance it. Once the refinance is done you repeat over and over! The key to making this strategy work is getting an awesome deal with plenty of equity. You also need to be prepared if things do not go perfectly. Appraisals can come in low, the banks may not want to finance you, you may not get the property rented or repaired as fast as hoped, etc.
Hard money loans
Using hard money can save you a ton of cash in the short-term, but it is more expensive in the end. Fannie Mae lending guidelines, allow you to refinance a home with no seasoning period, which means you do not have to wait six months or a year after you purchase a home, to refinance at a higher value than what you bought it for. Fannie Mae guidelines base the refinance amount on a new appraisal, and they will allow a 75 percent loan-to-value ratio. Fannie Mae guidelines do not allow a cash-out refinance, but they do allow the refinance to pay off any existing loans. Many hard money lenders will allow a buyer to borrow up to 100 percent of the purchase price and to finance repairs as well.
Since Fannie Mae guidelines allow a 75 percent loan-to-value refinance, theoretically an investor could buy a home for $100,000 and get a loan with a hard money lender for $100,000 plus $30,000 in repairs for a total loan amount of $130,000. The investor could refinance the home for as much as 75 percent of a new appraisal. If the appraisal came in at $180,000, then 75 percent loan-to-value would allow a refinance of $135,000. Fannie will not allow a cash-out refinance, but the investor could refinance the full $130,000 loan amount. This strategy can be costly due to hard money fees, but it allows the investor to refinance the entire purchase price and repairs!
This strategy can also be very risky because you are depending on a high appraisal to get your money out. Most hard money loans are only one year and you must pay off the loan after that year. Refinance appraisals are not always as high as we would like them to be. Make sure you have an exit strategy if the appraisal comes in lower than you expect.
Private money loans
One legitimate way to buy real estate with no money down is to use private money. Private money is from a private investor, friend, or family member. The private investor will give you money at a certain interest rate to buy a flip or rental property. Private money rates can vary from very cheap to very expensive depending on the relationship, investment, and terms of the loan. I use private money from my sister for my fix and flips. She charges me six percent interest. It is a great way to reduce the amount of cash I have into the properties.
I have used private money to buy commercial rentals and then refinance into a long-term loan with a local bank.
Can being a real estate agent help?
There are many advantages to having your real estate license, but the biggest benefit is you can keep your commission on almost every house you buy. On a $100,000 house, your commission could be $3,000 dollars or more. Here is an article that details why it is an advantage to become a real estate agent if you are an investor. Being a real estate agent also gives me an advantage in finding and purchasing great deals. I detail how hard it is to get your real estate license here. I saved more than $270,000 a year on commissions by being a real estate agent. That does not include the money I made on deals that I got because I was an agent.
Turnkey rentals
A new trend in the US is buying turnkey rental properties that are purchased, repaired, rented, and managed by a turnkey provider. Turnkey properties are a great opportunity for investors to buy rental properties out-of-state when homes are too expensive in their area. There are turnkey providers who offer as little as 5 percent down for investors, but they tend to have very high-interest rates. Here is a great article about turnkey providers or send me a request here for turnkey providers I know of. I bought a turnkey rental in Cleveland a few years ago.
Line of credit
I have had many lines of credit in my career. I have had lines of credit against my personal house (the house I live in) and my investment properties. It is much easier to get a line of credit against your personal house and some banks will not even offer lines of credit on investment properties. A line of credit is basically a loan against a home, but you do not have to use the money all the time. If you do not need the money you can pay it back to the bank and not be charged interest on it. When you need the money again, you can borrow it very quickly as long as the line is open.
Off-market properties
Off-market properties are purchased through direct marketing or by word of mouth. Buying off-market usually means less expensive properties and in some cases, owners with flexible terms such as owner financing. Many investors wholesale off-market properties, which you can purchase with no down payment. Wholesaling is a process of buying and selling properties very quickly. The properties must be very good deals and are usually found by direct marketing for properties. Many investors make a great living by only wholesaling properties to other investors.
Seller financing
Some sellers may be willing to finance the house they are selling or finance a second loan on a home that allows a buyer to put less than 20 percent down. If your bank is willing to offer 80 percent loan-to-value, the seller may offer to loan the other 20 percent, which would amount to no money down for the buyer. The seller may also offer a number of other loan-to-value percentages to help a buyer get into a home for less than 20 percent down.
Finding seller-financed properties is the tricky part. Most sellers are not looking to finance a loan when they sell. To find seller financed listings, look for homes that have no loans against them or an MLS listing description that say seller financing is available. The seller’s terms can vary greatly depending on how desperate they are to sell and what exactly they are looking to get out of the deal. Do not expect to pay four percent interest on a seller-financed loan; they will want a premium on any money they lend. It is also harder to find great deals with seller financing, which is key to my strategy.
There are many new restrictions on financing thanks to the recent Dodd-Frank Act.
Refinance
In most areas of the country, home values are rising and interest rates are at record lows. You may be able to refinance your home and get enough money to buy an investment property. Once you are able to buy an investment property, you can refinance it in one year (sometimes less with the right bank). With rates as low as they are, if you bought the home below market value, you should be able to take out as much as you put into the house and still cash flow. I use this refinance technique all the time. Getting lenders to do a refinance is tricky when you own multiple investment properties. I use a portfolio lender who has allowed me to use a cash-out refinance on as many properties as I want.
Below is a property I refinanced:
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Move in ready Houses
A move-in ready property means all the repairs are completed and it is ready to rent as soon as you buy the home. There can be many advantages to buying a nice home. The biggest advantage is you do not have to pay for repairs. You also do not have to spend time waiting for repairs to be done, which saves money on mortgage payments, utilities, and other carrying costs. The downside of a move-in ready property is that it is usually more expensive and provides less cash flow than a home that needs work.
Credit cards
A few other ways to get quick cash can be very expensive and are usually reserved for people looking to do a quick flip. If you have a killer deal you cannot pass up, you may want to consider these options, but I do not recommend using them unless it is necessary. The easiest way to get quick cash is with credit cards. You can get a cash advance or pay for repairs using your credit card. If you use a credit card to finance your down payment or repairs and cannot pay it off right away, do not pay the 17 percent interest rate. Do your best to get another card that will allow a balance transfer. Many times, you can transfer all of your balance and pay little to no interest for up to a year. That may give you enough time to pay off the card and not to be stuck with a high-interest rate eating all of your profits. I also suggest using a rewards card for repairs on your investment properties. If you pay the balance off every month, this is a great way to make a little extra money.
Self-directed IRA
If you have money invested in an IRA, you are not limited to investing in stocks or mutual funds. There are special self-directed IRAs that you can use to purchase an investment property. You can use your IRA for down payments and repairs and then collect rent in the IRA.
401K
Some 401ks allow an investor to take out a loan against them. You usually have to pay back the loan relatively quickly and pay interest on the loan. You have to be very careful when borrowing from a 401k because the money you borrow is no longer earning interest or growing in your retirement fund. If you lose your job, you also may be required to pay back the loan within 60 days or pay a 10 percent penalty and income tax on the loan.
Subject to loans
With a subject to loan, you buy a house without paying off the previous owner’s mortgage. This is another tricky situation; investors must be very careful with it. Most bank mortgages are not assumable; when the homeowner sells the house, they have to pay the loan in full. The bank most likely will have a due-on-sale clause that says the loans must be paid in full, once the property transfers ownership. With subject to loans the new investor buys a house subject to an old mortgage and does not pay off the loan. There is a chance that the bank will require the loan to be paid off if they find out that the home has been sold.
Investors buy homes subject to a mortgage so that they do not have to get a new loan. It may be hard for the investor to qualify for a mortgage or they may be maxed out on being able to get new loans. If you buy a home for $80,000 that has a $75,000 mortgage in place, the investor would only need $5,000 to buy the house instead of the normal 20 percent or more.
Fannie Mae Homepath program
The Fannie Mae Homepath program on their REO properties allows investors to put only 10 percent down and allows up to 20 financed loans in one person’s name, which is also a huge bonus. It is very difficult for many investors to get loans on more than four properties.
This program has been discontinued.
Conclusion
Rental properties can be expensive, but there are ways to purchase them with less than 20 percent down. If you are short on cash, buying properties with little money down can accelerate the purchasing schedule and increase your returns. However, you will most likely make less money on each property, because borrowing that last 20 percent can be much more expensive than the first 80 percent.
My book Build a Rental Property Empire, goes over how to buy investment properties with little money down. It also covers how to find deals, finance rentals, manage them, and much more! It is available as a paperback and ebook on Amazon or as an audiobook on Audible.
You can make a lot of money as a real estate agent but it takes some time to become on. You must take classes, pass a test, and hang your license with a broker. Having a real estate license can also help your real estate investing if you do a lot of deals. Real Estate Express is a real estate school that provides online classes in many states. Multiple agents in my office have taken online classes from Real Estate Express and have some great feedback on the program. I also took my real estate classes online back in 2001, but I did not use Real Estate Express. I used Vaned to get my license and that was so long ago, I barely remember anything about the classes except they were very boring!
Visit Real Estate Express
There are many other online companies that offer real estate licenses. You will find that many of those companies have very bad reviews and people tend to have bad experiences with them. Why is that? Because taking a real estate class online is one of the most boring things you can ever do. It is hours and hours of staring at a computer screen trying to comprehend information that you will most likely never need after you pass the test.
Many people think the courses are bad because of the material, but that is what the companies have to teach. They don’t decide what to teach, the real estate commissions for each state do that. You have your choice of taking classes online or in person in most states. I think you might learn more by taking classes in person, but the classes can be taken much faster online.
Why should you take real estate classes online?
Potential agents need to ask themselves if an online environment is right for them when getting their real estate license. If you are an investor who only wants to use your license on your own deals, online is a great choice. If you want to make a career out of being a real estate agent, and you have a lot of free time, you may want to think about getting your license in an actual classroom. Being in a classroom is a better learning environment because you have an actual teacher, guest speakers, and can network with other people in the business. The downside is that it takes a lot of hours to get your license in a classroom.
In Colorado, you need 168 hours of education before you can take the test to get your license. The amount of hours you need does not change whether you take the class online or in person, but some people can work faster online than others. You may be able to get through the material much faster online than you can in person. You are also able to work on the classes whenever you want when you take the online version. I have to take continuing education to keep my license every year. I prefer to take my classes online because I can get them done a little faster.
Some people also learn better with different teaching techniques. Reading is a great way for some to learn, while others need an instructor. The online classes have videos and different types of teaching, but there is still a lot of reading. There is a lot of reading when you take in-person classes as well, but the instructor can help supplement that more than an online course.
Is it hard to learn on a computer?
Before I get into the pros and cons of Real Estate Express, I want to talk about online classes in general. If you decide to take online classes, be prepared to be in front of a computer a lot! Most states have much fewer hours required than Colorado, but wherever you get your license it takes a lot of hours staring at a computer.
When you take classes online it can be very hard to motivate yourself and you have to set your own schedule. I know it was tough for me to go through the real estate material and I had been around real estate most of my life (my dad was an agent). The real estate classes are not meant to teach agents how to sell houses and make money, they are meant to teach you the laws and regulations. The laws and regulations are very important, but also very boring.
If you are taking real estate license classes to learn how to sell houses or how to invest in real estate, look somewhere else. You will need a supplemental training program to learn the ins and outs of investing or selling real estate.
I have seen a lot of complaints about Real Estate Express and most of those stem from the material. Real Estate Express does not choose the material they teach, the state licensing board does. It is important to remember the classes are meant to help you stay out of jail, not teach you how to sell houses.
What are the real estate licensing requirements in all 50 states?
What real estate school did my agents choose?
When I got my license in 2001 there were very few choices for real estate schools. I choose Vaned.com because it was one of the few choices I had and somewhat affordable. It was a decent course and they are still around today. There are many more online schools now and prices have dropped as competition has increased.
The primary reason my agents choose Real Estate Express was they were the most affordable choice and they have a very high success rate for agents passing the test. My agents also had schedules or jobs that did not allow them to take their classes in a classroom environment. I think that most people find it is tough to take 168 hours of classes in a classroom when you have a job or a family. If you have to work around that schedule it can take forever to get through the classes.
Reviews from my agents
From Justin:
“I earned my real estate license while at a full-time job, so knew I needed to do it online. I shopped all of the top options and did demos of each. The delivery was fairly similar across the board, so I chose Real Estate Express due to its better price point.
Doing hours and hours of online education is never easy, but I got through the material fairly quickly.
Out of everything, the biggest value was the test prep portion. Once your educational hours are complete, you still need to take state and national licensing exams at testing centers. Real Estate Express had modules specifically to prepare me for these. I really enjoyed these modules and most importantly…I passed the test on my first try. Many people I know had to take the exams 2 or 3 times before passing.
Based on all of this, I have recommended Real Estate Express to several people.”
From David
“I was able to get through the material rapidly while working a full-time job. I needed the flexibility online courses offer. Real Estate Express was inexpensive and has all the features I wanted.
As I shopped options, I saw that Real Estate Express had chat and phone support for people to reach. The money-back guarantee was good to see too.
During exam prep, when I went through the test questions the system gave immediate feedback on the question. This is called a coaching module. It lets you know why you got a question right or wrong as you test, which has helped my learning tremendously.”
From Michael
“I quit my job in order to get my real estate license as quickly as possible. After looking at various options, it seemed I could get through fastest by using an online option. Real Estate Express had what I needed and it was recommended to me by two people.
I did have some technical issues with my computer, so I had to use their support several times. They responded quickly and resolved my issues. It was good to have nice human support throughout the process.
I also had questions with the licensing process, which they helped me with as well.”
Real Estate Express advantages
When I got my license many years ago, I did not pass the test on my first try. Most of this was my fault because I thought I knew everything about real estate and did not need to study very much. The real estate test is not easy to pass. I passed the next try after studying more and taking my time prepping for the test. I had to take the test again on very short notice a few years later to become a broker for my sister’s company for a short period of time. I passed the test with three days of studying on my first try thanks to a test prep course.
Test Preparation
One of the toughest parts of passing the real estate licensing tests is understanding the questions. The real estate licensing boards tend to use double and triple negatives to trip you up. The wording is very confusing and it is easy to fail even if you know the material well. I think the test prep is one of the most important features of any school because you need to get used to how the questions are asked on the test.
I have heard people complain about the poor wording of quizzes and questions in the real estate classes. It is true that they are worded poorly, but that is to prepare you for the state test. Here are some other advantages that I have seen from Real Estate Express:
Live support
I have heard from numerous people about the life support Real Estate Express offers and how helpful it can be. They are very quick to respond to questions online or on the phone.
A+ BBB rating
They have a great rating with the BBB and respond to any complaints with logic ad solutions.
Affordable
Real Estate Express is Cheaper than most other real estate schools. They are the largest online real estate school in the country and that allows them to be able to charge less than the other schools. Their low prices are also why they have become the largest real estate school in the country.
Courses in most states
Real Estate Express offers courses in 27 states. They are continually adding more states as they are approved to offer courses for real estate licenses. Some states require in-person classes while others do not.
Real Estate Express disadvantages
There are some cons to Real Estate Express, but they will come with almost any online school.
The online structure is boring
When you take classes online it is really boring going through the material and hard to motivate yourself.
Fewer networking opportunities
When you take classes in person you meet the instructor, other classmates, and guest speakers. You miss that with online classes.
Less support with online classes
Even though most schools offer some type of support, you don’t have a live teacher you can ask questions to immediately.
No time table to complete the course
When you take classes in person you know exactly when the classes are and when they will be completed. When you take classes online it is all up to you to complete the work. There is no schedule and you must be self-motivated.
Conclusion
If you are thinking of getting your license I recommend Real Estate Express if you go the online route. you can make a lot of money as a real estate agent, but remember the real estate classes will not teach you how to make money. The classes teach you the laws and regulations of being a real estate agent. If you want to learn to make money as an agent I would suggest choosing a broker who offers training and support for new agents.
Whether you’re buying or selling your home, you have probably heard the term listing agent a few times. A listing agent is someone who helps a seller market their home. They communicate with a buyer’s agent so potential buyers can tour your home in person, and then once it comes time, they negotiate offers on your behalf. Here’s an easy way to remember the difference between a buyer’s agent and a listing agent:
A buyer’s agent represents the buyer.
A listing agent represents the seller.
The two agents will communicate with one another on behalf of each of their clients.
Is a Listing Agent Necessary?
The long story short is no. You can try to sell it on your own, often called for sale by owner (FSBO). Some people are successful in selling their home on their own, but most people still need assistance in pricing, marketing, and negotiating top dollar for the home
Enter Homie
Using a traditional listing agent can get pricey. Homie is the tech-enabled way to sell your home for a low fee. You still work directly with a Homie listing agent, but you’ll just save serious dough by not paying high commissions. When you sign up to sell your home with Homie, you get a local, experienced listing agent plus a whole team of home-selling pros. Homie even has a team of attorneys to assist you with all the legal stuff.
What Does a Listing Agent Do?
They have a few responsibilities:
Prices your home
A listing agent can help you analyze the market and price your home accordingly. Of course, it’s up to you as the seller to decide if the final price is right.
Markets your home
Listing agents help you market your home by putting them online. Only licensed agents can put homes on the MLS.
Coordinates with buying agents
Many buyers are represented by a buyer’s agent. Other agents will communicate directly with your listing agent to arrange showings of your casa.
Paperwork
When it comes time to review offers, the listing agent will go over all the paperwork with you and make sure the offer looks good.
Negotiations
Oftentimes, the listing agent will say that their main job is to protect you. They want to make sure you’re getting top dollar from your home. They’ll negotiate with the buyer’s side to ensure the right deal gets done quickly.
What Doesn’t a Listing Agent Do?
There are a few things out of their wheelhouse:
Show your home
A listing agent won’t meet potential buyers at your home to show off what you’ve got. That’s the responsibility of the buyer’s agent.
Write the offer
While they do understand how to negotiate offers, your listing agent will not write the offer on your home. That has to come from the buyer’s side. They will, however, assist in drafting counteroffers and any addenda you may need.
Do magic
The reality is, most sellers believe that their house is worth more than it actually is. A listing agent can’t do magic and make it sell for more than it’s worth or make it better than what you’re bringing to the table.
What Does a Homie Listing Agent Do?
Our listing agents do everything that a traditional listing agent does, but we charge a low fee to list, market, and negotiate on your behalf. There aren’t any outrageous commissions to be made here. There are no hidden fees either. (You may still want to pay the buyer’s agent a commission, which is typically 2.5-3% of the sale price but it’s your choice how much to offer.)
Will they help you get the best price for your home? You’re right. They will.
Will they assist in helping you with all the legal business? They live for it.
Will they help you have the best possible home buying experience? They wouldn’t be a Homie if they didn’t want to.
There’s No Place Like Homie, There’s No Place Like Homie
Really though, our licensed listing agents are ready to help you sell your home for a fraction of the cost of a traditional agent. Click here to learn more about how to sell your home with Homie, or click here to jump right into the process.
SOLON — If you’re looking for a design solution, whether that’s furniture, décor or flooring, the team at Ideal Decorating may be able to help out.
With the flagship store and warehouse for Ideal Decorating is in Dyersville, the business offers everything from mattresses and bedding to area rugs, furniture, artwork, lighting, and flooring, for both residential and commercial spaces.
The team also offers home consultations and free delivery within a 60-mile radius of Dyersville. And it’s just opened a new retail store in downtown Solon.
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Beth Gudenkauf, 31, is one of the owners, along with Tommy Dee, Jon Scherbring and Kelly Milbert, whose parents ran the Dyersville business for more than a decade before she took it over in 2014.
The business partnership among the four has grown over the last decade.
“We’ve built a company that we are really proud of,” Gudenkauf said. “We cherish the fact that we are continuing the legacy in a way that I know our previous owners would be really proud of, too.
“I think what sets us apart from the rest is our outstanding customer service,” she said. “We build relationships with our customers and love to see the final outcome of their projects, whether it’s big or small.”
It also has helped the business grow. Just two years into taking over the business, they opened a second location in Guttenberg, along the Mississippi River in Clayton County.
Gudenkauf describes her role as operating manager of the Solon store, which opened March 10.
“I’ll help with anything from office work — flooring blueprints, sales, orders, and inventory — to scheduling flooring installs and managing employees,” she said. “I’ll spend days getting caught up on orders, flooring estimates, scheduling jobs/deliveries, work on some social media, all while also helping customers as they come in.”
Scherbring also does a little bit of everything, she said.
“He’ll help with the overall design and look of the three locations,” she said. “He’s great at helping customers pick out furniture and decor and isn’t afraid to go a little out of the box with his designs. You’ll see him at every furniture and decor market, checking out the new trends and bringing them to life in our stores.”
Milbert handles the finances and will help on the sales floor when needed, Gudenkauf added.
And Dee, she said, “was a big influence in coordinating the Solon project but has also helped with our build-outs at the other locations. He is an owner that will continue to help with the growth in Solon.”
Gudenkauf said when Ideal Decorating was at a point where it wanted to expand, it landed on Solon.
“We saw the growing demographics in that area,” she said. “We also saw a lot of similarities between Solon and Dyersville, which made us believe it was a good fit for us.”
Gudenkauf said she is thankful for the teamwork of the owners, eight full-time employees and a few part-time high school students who help with their schedules allow.
“Every day is different,” she said. “One day I might need to help with a delivery or unloading a truck and the next day I might spend the entire day at my desk.”
That variety is a perk of the job, Gudenkauf said.
“Every customer is different,” she said. “We’ll have customers that still have a very traditional style and we’ll cater to that and the next one that walks in the door wants a very modern look. We’re very accommodating to all the styles that are presented to us.
“You can walk into our locations and get the urban industrial vignettes, as well as a farmhouse vignette right next to it. We have a very collective design group and use that to our advantage when ordering for our showrooms.”
Know a business that should be considered for a “My Biz” feature? Let us know by emailing [email protected].
Ideal Decorating
Owners: Tommy Dee, Beth Gudenkauf, Kelly Milbert and Jon Scherbring
When purchasing a house, it is almost an automatic reaction for many of us to purchase home insurance.
Indeed, home insurance is considered to be so vital that many mortgage providers will require you to have it prior to lending.
These policies help protect your home against incidents such as theft or damage from natural disasters such as fires or floods.
While home insurance is a useful and valuable benefit, it has its share of drawbacks, namely, the fact that it does nothing to protect the valuable items inside your home.
Your systems, such as heating and air conditioning, and appliances, such as washers and stoves, can add up to a hefty sum when considered collectively. If only there were a home insurance policy available to cover these needs.
Luckily, there is! Welcome to the world of home warranty plans. Below, we’ll look at America’s First Choice to determine whether or not it should make your short list of home warranty providers.
America’s 1st Choice Home Warranty: How It Works
If you have purchased a television, oven, or refrigerator, chances are it came with a standard manufacturer’s warranty of at least one year.
This protects you in the event that the product breaks or malfunctions. Home warranties are usually purchased through monthly installments to ensure continuous coverage.
If the item in question does fail, the policy provider is promising to repair or replace it to the original condition, meaning you are left satisfied that your investment is fully protected.
A home warranty plan works in precisely the same way, but covers appliances and systems existing within your home.
America’s First Choice proudly offers qualified technicians, quick repairs, and guaranteed replacements on everything from garbage disposals to water heaters in return for a small monthly payment.
There are different levels of membership available at different costs, depending on your specific budget, needs, and lifestyle. Policies are flexible and versatile, with the opportunity to add on specific features to further customize your plan.
American’s First Choice is one of our favorite home warranty providers.
Here’s why.
How Do Plans Work?
A plan from America’s First Choice aims to make your life easier. When you need to make a claim, call the company’s direct number to connect with a customer service agent.
They will then schedule a licensed technician to visit you, diagnose the problem, and decide whether a repair or a replacement is the best solution.
A service fee of $60 will be required for the technician to visit your home, which is a competitive rate compared to other warranty plans of the same standard.
What Plans Are Offered?
America’s First Choice offers three main tiers of policies, with an additional option covering systems within your home.
Platinum
The top tier is the most comprehensive option, offering coverage for a variety of appliances:
Oven/range
Stove/cooktop
Clothes dryer and clothes washer
Gas or electric water heater
Refrigerator with ice maker
Garbage disposal
Garage door opener
Air conditioning or cooler
Built-in microwave
Heating system or built-in wall unit
Plumbing system
Electrical system
Faucets
Plumbing stoppages
Ductwork
As the premium option, the price is higher for the platinum policy. Any interested parties can call for a free quote, which may be adjusted depending on changes made to the plan and the items covered.
Gold
The medium option, gold, is very similar to the platinum policy, with a few distinct exceptions. In general, it will not cover any extras, such as ice makers or plumbing stoppages.
Items included in this plan are:
Clothes dryer and clothes washer
Oven/range
Stove/cooktop
Refrigerator
Gas or electric water heater
Garage door opener
Garbage disposal
Air conditioning or cooler
Heating system or built-in wall unit
Plumbing system
Electrical system
Ductwork
As a result of the less comprehensive coverage, this is generally a cheaper option for customers.
Silver
Again, the Silver policy covers fewer items and systems and is an ideal option for those on a tight budget but still requiring some protection.
Coverage is included on the following:
Oven/range
Stove/cooktop
Clothes dryers and washer
Gas or electric water heater
Garage door opener
Garbage disposal
Dishwasher
Refrigerator
The Silver plan covers all the key essentials and is the most affordable of the three policy options.
Systems Only
In addition to the central three policies, America’s First Choice also offers a ‘systems only’ plan, which allows the homeowner to simply protect crucial systems in their home. These systems can be very expensive to repair individually.
This policy includes protection for the following:
Plumbing system
Electrical system
Heating systems
One unit of air conditioning or cooler systems
Gas or electric water heaters
If you are looking for the very basics to be protected, this is an ideal option.
The versatility and diversity of America’s First Choice make their policies popular and appealing. There is an option only to cover exactly what you want, or to go all out for total protection.
Exclusions
It is important to note that America’s First Choice plans do not currently cover any pre-existing conditions, whether these are known or unknown at the time of activation.
All items must be in good working condition in order to qualify for coverage.
Alternatives to America’s First Choice
America’s First Choice is a great option for your home warranty, but if you’re looking to shop around, there are multiple options that are worth your consideration.
You can get a quote in minutes to help inform your decision.
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The Pros and Cons
As with any policy, there are positives and negatives to take into account to help you make a balanced and informed purchasing decision.
Pros
Technician Flexibility: Policyholders can use any technician – unlike some other plans, homeowners are not required to use technicians endorsed and supplied by America’s First Choice, but may select someone of their choosing. The only requirement is that all technicians must be licensed, bonded, and fully insured.
Convenient Claim Filing: Claims can be filed in the 30-day waiting period, though the maximum payout will be limited to $150.
Affordable Service Rate: There’s a standard, flat service rate of $60 – helps homeowners to budget and be prepared in the event of a claim.
Guaranteed Coverage: A home warranty policy gives you peace of mind in exchange for a simple monthly payment.
Cons
Policy Exclusions: There are some well-hidden exclusions and exceptions to be aware of. Make sure to read your policy carefully so you understand what you’re signing up for.
Pre-Existing Exclusions: Any pre-existing conditions or issues will not be covered, whether you are aware of them or not at the time of taking out the policy. This means some essential items could be excluded from coverage.
Final Thoughts
America’s First Choice offers a clear, easy-to-use option for your home warranty. They offer three plan options, allowing you to select the one that will prove most beneficial to your home, needs, and lifestyle.
In addition, there is an option to purchase a plan to cover the systems in your home only—the ultimate budget option which still provides needed protection.
A home warranty plan can be a sensible, more affordable solution that keeps your home running smoothly.
Individual repairs and replacements can be pricey, involving a great deal of time and effort trying to find the best but most affordable solutions.
Replacing an appliance, such as an oven or refrigerator, can be expensive and even out of reach for those adhering to strict budgets.
A home warranty plan transforms this process into a single, affordable payment, meaning you will not have to spend vast amounts of money at short notice.
A warranty plan from America’s First Choice gives you the flexibility to choose what is right for you while also providing invaluable peace of mind and security.
Miami has it all. Sunshine, pristine beaches and apartment spas that will make you wonder why anyone would ever leave.
Known internationally as one of the most scenic and exciting cities in the world, Miami is an iconic beachside metropolis filled with iconic people. With all that prestige comes some of the most over-the-top apartment amenities you’re ever going to find. From nail salons to steam rooms to serene bathrooms, these apartments have the spa style many Miami locals are looking for.
Listed below are 10 apartments with some of the best spa-style amenities in The Magic City. Whether you’re looking for personal pampering or the opportunity to unplug, unwind and let the stress melt away, there’s an apartment on this list that has the amenities you need to properly decompress.
Source: Rent. / Flamingo Point
Good luck finding a spa and nail salon with a better view than the one at Flamingo Point. Located in Central City, Miami Beach, this 614-unit complex sets the standard for spa-style apartment amenities and is the envy of renters all throughout South Beach and the rest of southern Florida.
With an in-house nail salon that looks like something out of a magazine and a massage room with muted colors and designer lighting, there really is no comparison to what Flamingo Point can offer in terms of relaxation-focused amenities. From a deep tissue massage to trying out that new nail style taking over TikTok, the spa facilities at Flamingo Point are the perfect place to get the job done.
Source: Rent. / Blue Lagoon 7
The spa facilities at Blue Lagoon 7 go well beyond its beautiful lakeside jacuzzi. The team behind Blue Lagoon 7 designed the complex with overall health, wellness and relaxation as their guiding principles. Boasting a steam room and a sauna, dry and wet heat preferences are both respected equally at this stellar apartment spa setup.
This Flagami apartment complex also provides residents with other relaxing amenities, like outdoor hammocks right on the lakeshore, and a yoga room that is separate from the gym so you can enjoy some peace and quiet while you get a good stretch in and meditate on the events of the day.
Source: Rent. / Gables Columbus Center
When your apartment bathroom is as luxurious as the picture above, it almost eliminates the desire to go to the spa entirely. With large soaking tubs, custom cabinetry and plenty of privacy and space to do what you please without self-consciousness stepping in the way, total relaxation is always only steps away from your bed when you call Gables Columbus Center home.
The spa-like qualities at Gables Columbus Center don’t stop at the apartment restrooms, either. This Coral Gables complex also boasts a resort-style pool and multiple luxuriously adorned communal lounge areas. These places are ideal as an end-of-the-day retreat to escape the stresses of the day before you retire to your apartment for the night.
Source: Rent. / Watermarc at Biscayne Bay
In the heart of Edgewater, 28 floors up, sits the stunning spa-like pool area of Watermarc at Biscayne Bay. High enough off the street to eliminate the noise pollution that comes with city living, this elevated oasis undoubtedly puts many of the nearby upscale spas and resorts to shame.
Shaded cabanas line the crystal-clear water and provide the type of unencumbered views you often have to pay a premium to enjoy. The spa-style doesn’t stop at the pool in this apartment complex, either. The apartment bathrooms at Watermarc at Biscayne Bay are truly second to none. A serene space for residents to start and end their day, these restrooms emphasize the “rest” half of the word and provide a relaxing respite from daily stress for the people lucky enough to call this gorgeous upscale apartment complex home.
Source: Rent. / Sanctuary at Doral
Sanctuary at Doral boasts a large steam room that sets the standard for apartments. A rare amenity already, the designers of these upscale Doral apartments went all out and super-sized the steam room so residents never have to wait to maintain their overall wellness.
Renowned for their ability to improve circulation, increase immune response and ease muscle pain, the benefits of hitting the steam room regularly go far beyond sweating out the demons the previous week. Not to mention the professional massage room right next to the steam room is always there for you. This is the perfect place to work out any knots that the steam isn’t able to melt away.
Source: Rent. / Gables Ponce
Gables Ponce is a great place for relaxation-minded people to call home. Packed with the type of luxurious amenities that make a busy life easier to deal with, Gables Ponce is not just an apartment complex, it’s a community that prioritizes mental and physical well-being above all else. With a fully-equipped massage room on-site, relief is never more than a few steps away from your front door.
In addition to the well-equipped massage room, this Coral Gables apartment complex also boasts a dry sauna, steam room and a cabana-lined heated saltwater pool. This shallow pool has submerged lounge chairs and is an ideal spot to kick back and catch some rays or enjoy a book without all the wayward splashing that often comes with a communal pool.
Source: Rent. / Brickell 1st Apartments
The outdoor spa area at Brickell 1st Apartments is a serene sunkissed area that encourages unplugging and facilitates relaxation of all kinds. Whether you’re soaking away the soreness of an especially tough workout in the large hot tub, kicking back under a sunshade with a good book, or anything in between, opportunities for relaxation abound at this beautiful apartment complex.
Brickell 1st Apartments also boasts a separate stretching, bodyweight workout and meditation area complete with stability balls, designer lighting, leather loungers and hanging bubble chairs to choose from. Whether you’re stretching out the tightness that often accompanies long days behind a desk or taking a moment to clear your mind after a long week, good luck finding a better place in Brickell to unwind.
Source: Rent. / Waterways Village Apartments
One of the difficult things about living in an apartment can be the lack of a backyard. Residents of Waterways Village Apartments are lucky enough to not face that issue thanks to its stunning communal courtyard. Situated under long strands of string lights and shaded by mature palm trees, this is the perfect place to decompress at the end of a long day while soaking in the warm Aventura air.
Waterways Village Apartments also boasts a large resort-style pool, waterfront views and lounge chairs peppered throughout the property to provide all of the residents of this 180-unit property enough room to relax in peace and quiet on their own.
Source: Rent. / Avalon Bonterra
Fountains, luxurious caban-style loungers and fully grown palm trees all line the pristine pool at Avalon Bonterra, one of Hialeah’s most highly sought-after apartment complexes. Just off the pool, there’s also an outdoor lounge, complete with comfortable couches and a gas grill. Sound like a good place to unwind on a Saturday?
Beyond all that, Avalon Bonterra also boasts a private beach area complete with rope hammocks and concrete tables shaded by large traditional palapas. With all these options for relaxation right outside your door, the amenities here render the need for a spa completely obsolete.
Source: Rent. / The Atlantic Doral
Situated right next to Merlin Lake, The Atlantic Doral looks a whole lot more like a luxury resort than it does an apartment complex. The main attraction of these spa-style amenities is the jacuzzi that looks like it was imported from an Italian villa or a Spanish royal’s palace.
This Doral area apartment complex is also complete with a resort-style pool surrounded by lounge chairs and shaded by palm trees. With so many opportunities to soak up the sun and let the stress slip away, it’s easy to see that life is good when you call The Atlantic Doral home.
Kick back and relax in Miami
People don’t move to Miami to live a more stressful life. Miami is all about living life to the fullest, working hard when you have to, and enjoying the good life when you have the chance.
The apartments mentioned on this list are the best of the best when it comes to giving residents the opportunity to get a massage, enjoy a steam session or soak their problems away without leaving the apartment complex. That sounds like the Miami way if you ask us.
You can make a lot of money as a real estate agent but it takes some time to become on. You must take classes, pass a test, and hang your license with a broker. Having a real estate license can also help your real estate investing if you do a lot of deals. Real Estate Express is a real estate school that provides online classes in many states. Multiple agents in my office have taken online classes from Real Estate Express and have some great feedback on the program. I also took my real estate classes online back in 2001, but I did not use Real Estate Express. I used Vaned to get my license and that was so long ago, I barely remember anything about the classes except they were very boring!
Visit Real Estate Express
There are many other online companies that offer real estate licenses. You will find that many of those companies have very bad reviews and people tend to have bad experiences with them. Why is that? Because taking a real estate class online is one of the most boring things you can ever do. It is hours and hours of staring at a computer screen trying to comprehend information that you will most likely never need after you pass the test.
Many people think the courses are bad because of the material, but that is what the companies have to teach. They don’t decide what to teach, the real estate commissions for each state do that. You have your choice of taking classes online or in person in most states. I think you might learn more by taking classes in person, but the classes can be taken much faster online.
Why should you take real estate classes online?
Potential agents need to ask themselves if an online environment is right for them when getting their real estate license. If you are an investor who only wants to use your license on your own deals, online is a great choice. If you want to make a career out of being a real estate agent, and you have a lot of free time, you may want to think about getting your license in an actual classroom. Being in a classroom is a better learning environment because you have an actual teacher, guest speakers, and can network with other people in the business. The downside is that it takes a lot of hours to get your license in a classroom.
In Colorado, you need 168 hours of education before you can take the test to get your license. The amount of hours you need does not change whether you take the class online or in person, but some people can work faster online than others. You may be able to get through the material much faster online than you can in person. You are also able to work on the classes whenever you want when you take the online version. I have to take continuing education to keep my license every year. I prefer to take my classes online because I can get them done a little faster.
Some people also learn better with different teaching techniques. Reading is a great way for some to learn, while others need an instructor. The online classes have videos and different types of teaching, but there is still a lot of reading. There is a lot of reading when you take in-person classes as well, but the instructor can help supplement that more than an online course.
Is it hard to learn on a computer?
Before I get into the pros and cons of Real Estate Express, I want to talk about online classes in general. If you decide to take online classes, be prepared to be in front of a computer a lot! Most states have much fewer hours required than Colorado, but wherever you get your license it takes a lot of hours staring at a computer.
When you take classes online it can be very hard to motivate yourself and you have to set your own schedule. I know it was tough for me to go through the real estate material and I had been around real estate most of my life (my dad was an agent). The real estate classes are not meant to teach agents how to sell houses and make money, they are meant to teach you the laws and regulations. The laws and regulations are very important, but also very boring.
If you are taking real estate license classes to learn how to sell houses or how to invest in real estate, look somewhere else. You will need a supplemental training program to learn the ins and outs of investing or selling real estate.
I have seen a lot of complaints about Real Estate Express and most of those stem from the material. Real Estate Express does not choose the material they teach, the state licensing board does. It is important to remember the classes are meant to help you stay out of jail, not teach you how to sell houses.
What are the real estate licensing requirements in all 50 states?
What real estate school did my agents choose?
When I got my license in 2001 there were very few choices for real estate schools. I choose Vaned.com because it was one of the few choices I had and somewhat affordable. It was a decent course and they are still around today. There are many more online schools now and prices have dropped as competition has increased.
The primary reason my agents choose Real Estate Express was they were the most affordable choice and they have a very high success rate for agents passing the test. My agents also had schedules or jobs that did not allow them to take their classes in a classroom environment. I think that most people find it is tough to take 168 hours of classes in a classroom when you have a job or a family. If you have to work around that schedule it can take forever to get through the classes.
Reviews from my agents
From Justin:
“I earned my real estate license while at a full-time job, so knew I needed to do it online. I shopped all of the top options and did demos of each. The delivery was fairly similar across the board, so I chose Real Estate Express due to its better price point.
Doing hours and hours of online education is never easy, but I got through the material fairly quickly.
Out of everything, the biggest value was the test prep portion. Once your educational hours are complete, you still need to take state and national licensing exams at testing centers. Real Estate Express had modules specifically to prepare me for these. I really enjoyed these modules and most importantly…I passed the test on my first try. Many people I know had to take the exams 2 or 3 times before passing.
Based on all of this, I have recommended Real Estate Express to several people.”
From David
“I was able to get through the material rapidly while working a full-time job. I needed the flexibility online courses offer. Real Estate Express was inexpensive and has all the features I wanted.
As I shopped options, I saw that Real Estate Express had chat and phone support for people to reach. The money-back guarantee was good to see too.
During exam prep, when I went through the test questions the system gave immediate feedback on the question. This is called a coaching module. It lets you know why you got a question right or wrong as you test, which has helped my learning tremendously.”
From Michael
“I quit my job in order to get my real estate license as quickly as possible. After looking at various options, it seemed I could get through fastest by using an online option. Real Estate Express had what I needed and it was recommended to me by two people.
I did have some technical issues with my computer, so I had to use their support several times. They responded quickly and resolved my issues. It was good to have nice human support throughout the process.
I also had questions with the licensing process, which they helped me with as well.”
Real Estate Express advantages
When I got my license many years ago, I did not pass the test on my first try. Most of this was my fault because I thought I knew everything about real estate and did not need to study very much. The real estate test is not easy to pass. I passed the next try after studying more and taking my time prepping for the test. I had to take the test again on very short notice a few years later to become a broker for my sister’s company for a short period of time. I passed the test with three days of studying on my first try thanks to a test prep course.
Test Preparation
One of the toughest parts of passing the real estate licensing tests is understanding the questions. The real estate licensing boards tend to use double and triple negatives to trip you up. The wording is very confusing and it is easy to fail even if you know the material well. I think the test prep is one of the most important features of any school because you need to get used to how the questions are asked on the test.
I have heard people complain about the poor wording of quizzes and questions in the real estate classes. It is true that they are worded poorly, but that is to prepare you for the state test. Here are some other advantages that I have seen from Real Estate Express:
Live support
I have heard from numerous people about the life support Real Estate Express offers and how helpful it can be. They are very quick to respond to questions online or on the phone.
A+ BBB rating
They have a great rating with the BBB and respond to any complaints with logic ad solutions.
Affordable
Real Estate Express is Cheaper than most other real estate schools. They are the largest online real estate school in the country and that allows them to be able to charge less than the other schools. Their low prices are also why they have become the largest real estate school in the country.
Courses in most states
Real Estate Express offers courses in 27 states. They are continually adding more states as they are approved to offer courses for real estate licenses. Some states require in-person classes while others do not.
Real Estate Express disadvantages
There are some cons to Real Estate Express, but they will come with almost any online school.
The online structure is boring
When you take classes online it is really boring going through the material and hard to motivate yourself.
Fewer networking opportunities
When you take classes in person you meet the instructor, other classmates, and guest speakers. You miss that with online classes.
Less support with online classes
Even though most schools offer some type of support, you don’t have a live teacher you can ask questions to immediately.
No time table to complete the course
When you take classes in person you know exactly when the classes are and when they will be completed. When you take classes online it is all up to you to complete the work. There is no schedule and you must be self-motivated.
Conclusion
If you are thinking of getting your license I recommend Real Estate Express if you go the online route. you can make a lot of money as a real estate agent, but remember the real estate classes will not teach you how to make money. The classes teach you the laws and regulations of being a real estate agent. If you want to learn to make money as an agent I would suggest choosing a broker who offers training and support for new agents.