Imagine that you’re a farmer. You live in a rural county where everybody raises sheep.
The county’s farmers, on the whole, prosper. Their flocks tend to grow by 10 percent every year. Some years are better than others. In the best years, the sheep population in the county grows by 40 percent. Little lambs are everywhere! But in the worst years — years filled with frost, famine, and disease — the sheep population can collapse to half of what it was before.
Further imagine that the county becomes home to vicious predators. Wolves, perhaps. The wolves descend from the mountains and begin to eat the sheep. Some farmers protect themselves from loss, but others don’t know how — and some don’t even realize their flocks are being attacked.
The farmers who take precautions aren’t able to prevent all losses, but they come close. On farms with vigilant shepherds, only 0.10 percent of sheep are lost to wolves every year. For every thousand sheep, the wolves pick off one animal.
The farmers who don’t take precautions, on the other hand, suffer terrible losses. During the initial onslaught they lose 5 percent of their sheep. (Plus, every time they add more sheep to their herds, the wolves manage to grab another 5 percent.) To make matters worse, the wolves steadily steal 2 percent of the beasts every year. For every thousand sheep, this group of farmers loses 50 in the initial attack, and 20 more each year thereafter.
Think of it: After the first year, the smart farmers will have lost just one of every thousand sheep. The other shepherds will have lost 70 sheep.
If the county’s flocks each grew at the long-term 10 percent average during that first year, the vigilant folks would now have 1,099 sheep for every thousand they started with. The unwary farmers would have 1,024 sheep.
Now imagine that in the second year, the same pattern continues. All flocks grow at the long-term average of 10 percent, and the wolves snatch 2 percent of the animals from those farmers who aren’t paying attention. At the end of the second year, the wolf-free flocks would have grown to 1,208 sheep for every thousand that were present at the start. The flocks where the wolves run wild would have just 1,104 sheep.
Both populations of farmers enjoy the same growth rate among their flocks. The difference is that one group loses fewer sheep to the wolves.
And at the end of 10 years following this pattern? The wolf-less flocks would have grown from 1,000 to 2,566 sheep. Those under attack would still have increased, but at a much slower rate. They’d have 2,013 sheep.
Things are even worse when you look at the farmers who add more animals to their farms every year. Remember that I said the wolves slaughter 5 percent of the sheep added to the unlucky flocks? Well, assume that wealthy farmers from both populations are able to buy 100 new sheep every year — but that the wolves snatch five of these from the one group.
At the end of a decade, these wealthy farmers will have contributed a total of 2,000 sheep to their flocks for each 1,000 sheep they started with. With average long-term growth, these flocks will have grown to 4,154 animals for the lucky shepherds and 3,374 sheep for those ravaged by wolves.
Which population of farmers would you prefer to join?
I won’t belabor this analogy any longer. I think most of you get my point.
Stock-market investors are like these sheep farmers. Collectively, they enjoy investment returns of roughly 10 percent per year. Individually, however, things are different. Most investors suffer severe losses from the wolves of Wall Street. Wolves, by the way, who don sheep’s clothing to convince investors to trust them. (These investors also have a tendency to make things worse by selling their flocks when sheep prices fall and expanding them when prices rise.)
If you want to be a successful farmer, you have to understand how farming works, and how to protect yourself from the wolves. Fortunately, it’s not as tough as it seems.
The financial industry wants you to believe that investing is difficult. If you buy into their message, if you accept the premise that you need help to invest wisely, they can charge you big bucks to handle your money.
The truth is somewhat different. Investing is simple. In fact, it can be one of the easiest things you do while managing your finances. How simple? Let’s boil it down to just a few sentences.
Here’s how to invest wisely:
Set aside as much as you can in investment accounts. Prefer tax-advantaged accounts (like a 401(k) or Roth IRA) before taxable accounts.
Invest all of your money in a low-cost stock index fund, such as Vanguard’s VTSMX or Fidelity’s FSTMX.
If the stock market makes you nervous, allocate some portion of your money to a bond fund. Or invest instead in a low-cost combo fund like Vanguard’s VGSTX or Fidelity’s FFNOX.
Continue investing as much money as possible. Never touch it.(Nothing makes a bigger difference to the size of your flock investments than how much you contribute.)
Ignore the news and ignore your fund.
That’s it. Seriously. That’s all you have to do to earn returns better than 90 percent of other investors.
There are scores of books and published research papers that support this strategy. It’s also the strategy that Warren Buffett (and other top pros) recommend for 99 percent of investors. If you’d like, you can spend days or weeks or months reading about why this works. Or you can trust these folks and do it.
Longer ago, my own flock of sheep was crippled by predators and my own bad behavior. After many mistakes, I got smart. I moved to greener pastures far from danger. Now I can ignore my sheep and go about my daily life, comfortable that the animals will continue reproducing at the long-term average without any intervention on my part. And with no danger of being consumed by wolves.
Save more, spend smarter, and make your money go further
The wedding venue can eat up a big slice of your wedding budget, so you might want to figure out ways to shrink that bill.
The “venue,” if you’re unsure, is basically where you hold your ceremony and reception.
Here are some savvy ideas for this special place:
Choose the least popular time.
Your best bet for saving at a wedding venue is to pick a time that’s not too popular with brides.
For example, skip the Saturday date and opt for a weekday or Sunday.
[Read: Who Pays for What In a Wedding]
Throw a daytime wedding for a lower booking fee. Consider choosing off-season times to throw your wedding.
Summer is a very popular time for weddings, so you might want to pick from the Winter months, which tend to be cheaper.
Alternative locations.
Don’t immediately opt for the most conventional locations, like the ballroom at the five-star hotel, because the prices for those places will be inflated due to demand.
Check out other venues such as a university, public park, gallery, museum, or someone’s backyard.
Decor you love.
Pick a venue that’s already beautiful or that will require minor decor tweaks so you won’t need extra wedding decorations.
And if you get married outdoors in a garden, then even better!
[Read: 7 Costly Wedding Traditions to Ditch]
There are no better decorations than what mother nature will provide.
Ask what is included.
When you’re taking a look at the venue, remember to ask what’s included in your package, just to get a better estimate of the total cost.
For example, items like portable toilets, tables, and chairs may need to be factored in.
[Read: 7 Ways to Make Your Bachelorette Party More Affordable]
Better yet, book a place that already owns everything you’ll need for your wedding (chairs, tables, etc.), and see if you can get an all-inclusive deal.
Rural areas.
Getting married in a small town or some other rural area may help you find cheaper prices.
Stay away from hot wedding spots, though, even in rural areas, because the prices can be pretty expensive as well.
Combine the ceremony and the reception.
Having the ceremony and the reception in the same location means that you only need to pay for one venue.
You’ll also be saving on decoration and guest transportation costs.
“Savvy Ways to Slash the Price of Your Wedding Venue” was provided by POPSUGAR Smart Living.
Save more, spend smarter, and make your money go further
Barndominiums have certainly come a long way since their introduction to the residential real estate market.
Today, these mostly rural residences that offer a combination shop and living quarters under one roof have gained in popularity, not only for their open floor plans, but also for their enormous spaces.
Often located on large parcels of land, the barn houses don’t have to be bland. In fact, we found five on the market that have raised the bar for both country style and ultraluxe add-ons.
Offering lots of space and less maintenance than a traditional home, the barndominium is now one of the hottest home styles on the market. Once considered an affordable alternative to conventional construction, many are now outfitted with luxury amenities.
From a resort-style home on 110 acres in Texas to a Colorado beauty with mountain views and a private airstrip, here are five luxurious barndominiums on the market that completely redefine the idea of country living.
Price: $659,900 Magnificent in Mississippi: This recently transformed home sits on just under 16 acres.
The four-bedroom barndominium was completed in December 2022. It boasts a great room with a gas fireplace, custom built-in shelves, wide-plank floors, and window walls to let the natural light soak in.
The stylish eat-in kitchen offers a huge island with seating, a walk-in pantry, and a gas cooktop. The primary suite on the main level features a soaking tub and shower. Three more bedrooms can be found upstairs, and there’s a covered patio out back.
The enormous workshop area can also accommodate two cars.
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Price: $2,500,000 Extra-large living: This barndominium is proof that everything is bigger in Texas!
Sitting on 110 acres, the six-bedroom home boasts three entrances from the road, two full kitchens, and an outdoor oasis. With two separate entry doors, the residence could be used as two separate domiciles that connect through a hallway.
On one side, there’s a primary bedroom, living room, and kitchen with a butler’s pantry. The other side has a chef’s kitchen that opens to the pool area, a living room, two dining areas, and four bedrooms upstairs.
The separate, 2,400-square-foot shop has a full bathroom and can fit an RV.
The property includes an outdoor kitchen with a built-in grill, a pool and spa, and a fire pit.
Poolville, TX
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Price: $779,900 Modern in Michigan: This expansive, five-bedroom home gives new meaning to open-concept living.
The 4,271 square feet of space boasts 18-foot-high ceilings, exposed beams, and a large loft. Sliding barn doors, oversized windows, and sliding glass doors can be found throughout the bright and airy space.
The two-story great room features a loft area and a wall of windows overlooking the backyard. The upscale kitchen boasts a walk-in pantry and two enormous islands, including one with a prep sink.
The primary suite is on the first floor and has a walk-in shower with dual rain showerheads and a soaking tub. A floating staircase from the living room leads to four more bedrooms. There’s an oversized garage and a separate shop area with a bathroom.
Built in 2021, this barndominium sits on a 21-acre wooded lot.
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Price: $1,499,999 Take off in Colorado: This 7-acre property offers the opportunity to live, work, and fly.
The 6,744-square-foot barndominium comes with a private airstrip. The open floor plan features a spacious living room with a high ceiling and a gas fireplace. The bright kitchen is equipped with stainless-steel appliances, quartz countertops, and a large island with seating. The dining area is surrounded by windows overlooking the covered patio with a fire pit. There’s also a separate office area, and the recreation room has a wet bar and pool table.
The workshop includes a bathroom, infrared-ceiling heat, and five garage doors. The listing notes that its construction allows for a future conversion to an airplane hangar.
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Price: $1,500,000 Sweet country home: This 3,757-square-foot open floor plan features custom cabinets, copper sinks, and wood beams.
The enormous living area has a cathedral ceiling and abundant windows. The modern kitchen boasts four ovens, a granite-top island with a breakfast bar, and a farmhouse sink. The walk-in pantry has space for an additional fridge or freezer.
The primary bedroom has sliding barn doors with direct access to a covered patio. The en suite bathroom has a soaking tub and gas fireplace.
The oversized shop area comes with two overhead doors, plus an outdoor covered area. The price was recently reduced by $150,000.
The 19-acre picturesque property has a creek running through it and includes storage sheds and a fenced area for animals.
For those looking to build their dream home, purchasing land is usually the first big step.
While building a house is far from easy, there are ways for first-time homeowners to make their dreams achievable. Land loans are a great resource, often used in conjunction with a traditional loan. Anyone choosing to build a house is likely to at least consider applying for a land loan.
A land or lot loan is a great financing option for those who have always dreamed of buying land and building their own home.
11 Best Banks for Land Loans
Because land loans typically carry higher interest rates than traditional mortgage loans, it pays to carefully consider the pros and cons of several lenders.
Below we’ve compiled a detailed list of the banks and credit unions offering the best land loans available today. Whatever lender you choose, be sure to check beforehand that they are fully licensed to provide mortgage loans.
The Nationwide Mortgage Licensing System (NMLS) is a centralized database of licensed lenders which you can use as a reference.
1. Atlantic Union Bank
Atlantic Union Bank offers land loans for both residential lots and undeveloped land. The bank is based in Virginia.
There are also separate construction loans available for those interested in financing the construction of a residence. Bear in mind that while Atlantic Union has a strong reputation as lenders, having been in business since 1902, they don’t have services like loan calculators, interest rate guidelines, or down payment information on their website.
For more information on a land loan with Atlantic, you’ll need to call them or visit a local branch to speak about a land loan.
2. Old National Bank
Old National Bank is headquartered in Indiana, and has been in operation since 1834. They offer lending products and services to residents of Indiana, Minnesota, Wisconsin, Michigan, and Kentucky. Old National has two different types of financing for land on offer, depending on the size of the property you’re interested in:
Lot Loans are designed to finance land purchases of no more than 5 acres, requiring a 20% down payment.
Land Loans are for larger property, designed to finance land purchases between 5 and 25 acres. These loans come with a minimum down payment of 35%.
Both land and lot loans with Old National will carry various interest rates and repayment terms. You can get either of these loan types for both improved and unimproved land, and there is no obligation to immediately begin building once a loan is secured.
Old National Bank also has around 250 brick-and-mortar locations since merging with First Midwest Bank. If visiting a local branch to speak with a loan officer is your preference, you shouldn’t have to travel too far.
On the other hand, you also have the option of using Old National’s online loan calculator and online loan application service, if visiting a local branch isn’t convenient.
3. Mountain America Credit Union
Mountain America Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA) and headquartered in Sandy, Utah. They locations across Arizona, Idaho, Utah, Montana, Nevada, and New Mexico.
Mountain America’s lot loans are available with 85% financing on approved credit, fully amortizing fixed-rate and balloon options, and an easy online application process. The loans are designed to be easily converted to a construction loan, ensuring that you can move forward with your home building plans when you’re ready.
4. WaFd Bank
WaFd, or Washington Federal, offers bank loans for improved land up to the value of $700,000, without any immediate obligations to build.
You can use their online loan calculator to receive an estimate of the interest rates you can expect for a land loan. These estimates are based on your credit score, development plans and the specifications of your desired property.
The minimum down payments and interest rates will vary depending on your ideal loan term, as well as all the other details of your application.
You can apply directly for loans through their online portal, as well as in person at a bank branch. Land loans are available from WaFd Bank only in the following states: Washington, Idaho, Nevada, New Mexico, Oregon, Texas and Utah.
5. Banner Bank
Banner Bank is active in the states of Idaho, Washington, Oregon, and California. They offer financing for purchasing both improved and unimproved land. Banner allows customers to borrow up to 75% of a property’s purchase price, and they also claim to bring competitive interest rates and fees.
All loans with Banner Bank are approved in-house, which means a streamlined credit score check and loan approval process.
If you do apply for a loan with Banner Bank, you also have the option of locking in a fixed interest rate or a flexible rate. Banner also offers financing for construction and personal loans.
6. California Bank & Trust
Customers with California Bank and Trust can potentially avail of both a land loan and a construction loan in one. The bank offers financing for up to 60% of the lot purchase value, along with several loan options.
The option to choose either a single or dual-purpose loan, which can cover both land purchase and construction of a home, makes California Bank & Trust an attractive lender. This is a great option for those looking to save both time and money.
You can apply for a loan online, over the phone, or in person at a local branch.
7. Randolph-Brooks Federal Credit Union
Randolph-Brooks Federal Credit Union is not your typical financial institution. As a financial cooperative, its sole mission is to help members save time, save money, and earn money. Over the years, the credit union has expanded its reach to over 1 million members in Texas and beyond, with a strong presence in Austin, Corpus Christi, Dallas-Fort Worth, and San Antonio.
With over 60 branches dedicated to serving members and the community, RBFCU offers a range of land loan benefits and features, including term options up to 15 years, free 60-day rate lock, and up to 90% financing.
And the best part? There are no building requirements from the lender, so you can have the freedom to build your dream home the way you want. Set up automatic payments and let RBFCU help you make your land ownership dreams a reality.
8. Citizens Bank & Trust
Citizens Bank & Trust is a North Alabama-based institution that’s committed to providing a hassle-free lending experience. What’s more, you can roll your loan into a permanent one, saving you on closing costs.
With local decision-making and processing, you’ll get the personalized attention you deserve, while a streamlined application process ensures you get your funds when you need them. You can experience a stress-free borrowing experience when you choose Citizens Bank & Trust for your land loan needs.
9. Alpine Bank
Alpine Bank is active in Colorado, offering financial services including land loans. Specifically, they offer loans for both lot and new constructions, with a maximum loan to value amount of 75% for land classified as improved.
Alpine Bank doesn’t offer lending details on their website. You can use their website to connect with lending experts in your county. You can also reach out for more loan information online, over the phone, or in person at one of their local bank branches.
10. First Bank & Trust
If you’re looking to buy land or a lot and build your dream home, First Bank and Trust Company can help. Headquartered in southwest Virginia, with additional locations in Tennessee, North Carolina, and Virginia, the bank is committed to helping you realize your homeownership goals.
With a range of lot and land loans, you can choose the financing option that’s right for you, while enjoying competitive rates and flexible terms. Whether you’re looking to build your dream home or invest in a piece of land, First Bank and Trust Company has the financing options you need to make it happen.
11. First Hawaiian Bank
First Hawaiian Bank offers land loan options designed for those who are ready to buy land but not quite ready to build. With 2- and 3-year terms available and no prepayment penalty, you can secure the land you want without worrying about costly fees. And with interim financing available to purchase a vacant lot at residential pricing, you can lock down the land you need to bring your vision to life.
Best of all, your FHB land loan can be refinanced into a construction-to-permanent loan with reduced fees, making it easier than ever to get the financing you need to build your dream home.
What are land loans?
Land loans are loan products designed to help individuals and businesses purchase land for development. A bank, credit union, or online lender can offer specific loans for those interested in buying land. Land loans are also known as ‘lot loans’.
Similar to a mortgage loan, land loans provide individuals and small businesses the opportunity to finance the purchase of land for many purposes, such as investment, agriculture, recreation, or development.
However, because these types of loan are considered riskier for lenders, they typically come with a higher interest rate compared to a mortgage loan. In addition, the conditions of the loan will depend on the type of land being purchased, as well as what the land will be used for.
Let’s take a closer look at the types of land that a land loan can help finance.
Types of Land Classification
Your chances of obtaining financing for land will depend partly on the type of land you want to purchase. In general, lenders who offer land loans will view developed land as less of a risk than undeveloped land.
When it comes to land loans, there are three primary types of land considered for financing.
Raw Land
‘Raw land’ is the first classification and refers to completely undeveloped, rural land. Think no buildings, electricity or drainage system. This is the most difficult land to obtain financing for because land loan lenders view it as the greatest risk of abandonment.
As a result, if you plan to apply for a land loan for raw land, you’ll need to demonstrate that you’ve got a detailed plan for development. Showing lenders that you’re competent and dedicated to the project will help you navigate the lending market.
Although the purchase price of raw land is often cheaper than land that is developed, a raw land loan will come with higher rates. You may also be required to put up a more substantial down payment.
Unimproved Land
‘Unimproved land’ is a step up from raw land, and covers a broad variety of possibilities. Unimproved land will often be land that was once developed, or has seen failed attempts at development in the past. In some cases unimproved land will have some limited access to utilities and amenities, but will need significant repair and refurbishing.
An unimproved land loan can also be difficult to get, even though it poses less risk compared to raw land. Again, having a detailed plan and being aware of the challenges at hand will be a huge help when negotiating with lenders. A large down payment and a strong credit score will also be helpful.
While lenders tend to view unimproved land loans as less risky than raw land, it is still common for rates to be a fair bit higher compared to traditional mortgage rates, for example.
Improved Land Loan
‘Improved land’ typically has decent or good access to utilities, roads and water. Because improved land is the most developed land type, it almost always comes with a higher price tag. On the other hand, this means that interest rates will be significantly lower compared to raw or unimproved land loans. You’ll also find more affordable down payments for developed lots.
For most aspiring homeowners, purchasing land that is already developed with access to basic amenities is the ideal. This allows them to immediately get to work building a house, whereas having to develop land first could add at least another year to their construction project.
How to Apply for a Land Loan
If you want to buy land and build your dream home, you’ll probably want to apply for a land loan. Land loan applying isn’t complex, and land loans work the same as many other types of loan. Here are the steps involved:
Find a Plot
You should start by first identifying the plot of land you want to buy. It helps to have a few options chosen in advance. For example, in the event that you can’t afford to find a good lending option for your first choice, you can quickly move on to an alternative instead.
Draw up a Development Plan
The next step is to make a development plan for each plot that you have on your shortlist. You may need or want to hire professional help to create a solid plan. Try to include as much detail as possible, without overextending yourself or wasting too much time and money.
When it comes to development and construction plans, both an estimated timeframe and overall cost range are the most important details. A good plan will help you negotiate the best rates with a lender.
Find a Lender
Once your development plan is ready, it’s time to seek potential lenders. Depending on the type of development you’re proposing, as well as the type of land you want to buy, it may take some time to find willing lenders.
Be prepared to also take some time to consider more than one loan offer. Ideally, you can compare multiple lenders, and use a pre-approved quote from at least one lender to negotiate against others.
Complete the Application Process
Once you’ve chosen a lender and been approved for your loan, you’ll be guided through the lender’s application process. The majority of lenders will require information such as your development plan, a credit check, and personal information.
You might also need to provide details on things like zoning considerations, utilities access and land use restrictions, where relevant.
Alternative Land Financing Options
In addition to seeking a land or construction loan, there are several other types of loans and financing options available.
USDA Loans
If you’re looking to own land and build a home in a rural area, you may be eligible for a USDA loan. The U.S. Department of Agriculture offers loans that may assist low and moderate income families in finding a new home. USDA Section 523 loans are for wanting to purchase land to develop, and Section 524 loans are for financing new constructions by contractors.
While it isn’t easy to qualify for a USDA loan, the benefit is they require no down payment and the interest rates are low. USDA loans must be settled within two years, however, so there are no long term options.
FHA Loans
Another government-funded product, FHA loans are tailored towards those wanting to buy land and quickly build a home. The Federal Housing Administration insures these loans, protecting FHA-approved lenders from risk.
FHA loans are not available for land purchase alone, but for those intending to build a home on as well as land. FHA loans are sometimes granted in conjunction with construction loans, too. If you’re eligible for one of these loans, you’ll likely have a lower minimum down payment, but potentially higher interest rates.
Home Equity Loans
Home equity loans may be an appealing alternative to land loans for some homeowners. If you already own a property and have good credit standing, this kind of loan might be a good fit. A home equity loan acts as a second mortgage, and will essentially convert your equity into collateral for a new loan to fund your purchase.
Cash-Out Refinancing
Cash-out refinancing involves homeowners refinancing their homes to increase equity. This type of refinancing is essentially paying off your current mortgage to secure another mortgage, but with a lower interest rate and easier monthly payments.
Once the remortgaging is made official, your bank or financial institution will issue you a check based on the equity in your property. You can then use this payment to fund your land purchase.
SBA Loans
The Small Business Administration (SBA) offers loans to small business owners from the 504 loan program.
These loans are best suited to the purchase of real estate for business reasons, so they are not ideal for regular homeowners. However, if you’re looking for land to purchase to grow your business, you might want to consider an SBA loan.
Generally, the Small Business Administration will cover 40% of the purchase value, with 10% from the borrower and another lender of choice providing the other half of the loan. The terms and rates on SBA loans vary depending on the lender you choose to fund 50% of the land purchase.
Seller Financing
If you’re lucky, you may be able to obtain financing directly from the landowner you want to buy from. Also known as land contracts, these types of loans involve the buyer essentially taking out a loan directly from the seller, often with a substantial down payment.
Seller financing also tends to come with less than competitive interest rates. For those who struggle to qualify for a traditional mortgage or financing, seller financing can often be a great, but more costly, alternative.
Frequently Asked Questions
What is the best loan for buying land?
The best loan option for buying land depends on your circumstances. While improved land loans may seem ideal, the reality is there are multiple loan options to choose from.
Your credit score, debt-to-income ratio, and the condition of the land you wish to purchase are all factors that can influence which type of financing will suit you best.
Is it difficult to get a loan for land?
It’s true that obtaining loan financing for the purchase of land isn’t as easy as getting a regular personal loan. However, there are lenders out there with experience financing land purchases. As with any loan, the bottom line will be your credit score, as well as the size of your down payment. The nature of the land in question is also a primary factor.
If you can’t qualify for traditional financing options, there are alternatives such as USDA loans, FHA loans and more to consider.
Hedgelawn Farm isn’t your typical New England homestead.
With three luxurious buildings and over 28 acres of preserved woodlands, the property on 191 Roxbury Road offers an idyllic rural retreat. It was listed in April for $9,500,000,
On the property’s highest point sits the 4,500-square-foot barn house, which was originally built as a tobacco barn in 1865. Its newly renovated interior contains much of the original post-and-beam structure.
This three-bedroom, 4.5-bathroom converted barn is the crown jewel of the property.
“The current owners purchased the property in 2007 and took inspiration from luxury Manhattan penthouses when designing the barn house,” says Jack Wagner, the property’s representative. “They also tried to keep as many historic elements that they could.”
Part of this renovation included an upscale “wellness level,” which has a Zen garden and a deluxe bathroom space.
The property’s other two buildings consist of the original home, which dates to the 1700s (now a California modern, two-bedroom, 2.5-bath guesthouse), and a small one-bedroom cottage.
These buildings were renovated and offer a blend of modern luxury and historic craftsmanship.
The thoughtful landscaping includes picturesque trails, two pools, a six-car garage, and a summer garden pavilion. The scenic space overlooks hundreds of acres of Steep Rock Land Trust.
Hedgelawn Farm is just an hour’s drive from Hartford and New Haven, making it a bucolic getaway for those working in any of the major surrounding cities.
Watch: Very Un-Florida: $16.9M Gothic Revival Mansion Stands Out in the Sunshine State
Red dirt, rolling hills and real-world experience abound in Oklahoma’s best college towns.
Oklahoma is not just about cowboy culture and stunning landscapes. It’s also home to some of the most vibrant college towns in the nation. These bustling hubs of education, creativity and entertainment provide students with a perfect blend of academic rigor and exciting social opportunities. In this article, we’ll dive into the best college towns in Oklahoma, exploring their unique charm and the reasons why they’re ideal for students of all walks of life seeking a fantastic college experience.
Let’s start our journey with Norman, the third-largest city in Oklahoma and home to the prestigious University of Oklahoma. With a population of over 120,000, Norman has everything a student could want in a college town. It’s a town proud of its rich history and tradition, with the university’s stunning architecture and beautiful campus as its centerpiece.
The city’s lively downtown area is teeming with local restaurants, bars and shops, ensuring that students never run out of things to do or places to explore. Nestled within the heart of Tornado Alley, Norman is a thriving hub of weather research and meteorology, making it an excellent choice for students pursuing a degree in these fields.
Next up is Lawton, a city that perfectly exemplifies the unique blend of military and academic life found in many small college towns throughout the country. Home to both Cameron University and the Fort Sill military base, Lawton is a place where students can enjoy the best of both worlds. It boasts a vibrant arts scene, with several museums and galleries to explore, including the Museum of the Great Plains and the Comanche National Museum and Cultural Center.
For outdoorsy types, Lawton’s proximity to the Wichita Mountains Wildlife Refuge provides ample opportunities for hiking, wildlife observation and even rock climbing. This picturesque backdrop, combined with a friendly community and affordable living, makes Lawton a great choice for students looking for a college town in Oklahoma with a unique atmosphere.
Our journey continues to Tulsa, Oklahoma’s second-largest city and home to several colleges and universities, including the University of Tulsa, Oral Roberts University and Tulsa Community College.
This vibrant and cosmopolitan city offers students a wide array of activities, attractions and cultural experiences to indulge in. From attending concerts at the historic Cain’s Ballroom or the BOK Center to exploring the Philbrook Museum of Art or the Gilcrease Museum, there’s always something happening in this bustling town. The thriving music scene, combined with the city’s diverse culinary offerings, ensures that students in Tulsa have easy access to global and local culture.
The home of Oklahoma State University, Stillwater is often referred to as the quintessential college town in Oklahoma. Its welcoming atmosphere, rich history and strong sense of community make it an ideal destination for students to receive a top-tier education and stick around after receiving their degrees.
The city’s lively downtown area, known as ‘The Strip,’ offers an eclectic mix of shops, restaurants and bars, making it the perfect place for students to unwind and socialize after a long day in the classroom. Additionally, the university’s sports teams, particularly the OSU Cowboys football team, are a significant source of pride and excitement for the town, with game days drawing thousands of fans to Boone Pickens Stadium.
With a strong emphasis on agricultural research, Stillwater is also an excellent destination for students pursuing careers in agriculture, animal science or environmental studies.
We can’t discuss college towns in Oklahoma without mentioning Oklahoma City, the state’s capital and largest city. Home to Oklahoma City University, Oklahoma State University – Oklahoma City and the University of Central Oklahoma, this metropolis offers students an urban experience with a distinctively Oklahoman flavor.
Oklahoma City is rich in history, culture and entertainment, with attractions like the Oklahoma City National Memorial & Museum, the Myriad Botanical Gardens and the Bricktown entertainment district. The city’s booming economy and numerous internship opportunities make it an ideal destination for students looking to jump-start their careers.
Now that we’ve covered some of the most notable college towns in Oklahoma, let’s explore a couple of hidden gems that are also worth considering. One such town is Weatherford, located about an hour west of Oklahoma City. Home to Southwestern Oklahoma State University, Weatherford offers students a warm, welcoming atmosphere and a vibrant local community. Its proximity to the stunning Red Rock Canyon State Park and the historic Route 66 provides students with ample opportunities for outdoor adventures and sightseeing.
Another lesser-known college town in Oklahoma is Shawnee, situated just east of Oklahoma City. As the home of Oklahoma Baptist University and St. Gregory’s University, Shawnee provides students with a close-knit, faith-based environment. The town’s rich Native American history and cultural attractions, including the Mabee-Gerrer Museum of Art and the Citizen Potawatomi Nation Cultural Heritage Center, offer students a unique and engaging educational experience.
Claim your space in one of Oklahoma’s best college towns
Oklahoma is home to a diverse array of college towns, each with its own unique charm and character. From the bustling urban centers of Tulsa and Oklahoma City to the serene, rural landscapes of Weatherford, there’s a college town in Oklahoma to suit every student’s preferences and interests.
The towns above offer not only excellent educational opportunities but also lively social scenes, rich cultural experiences and strong communities, making them the ideal destinations for students seeking a fulfilling and unforgettable college experience. Find your favorite city, pick an apartment and enjoy your new life in one of the top college towns in Oklahoma.
With the never-ending changes and challenges affecting the U.S. financial landscape, multiple community development entities are helping to counter some of their adverse effects by fostering community development initiatives.
Some examples include Community Development Financial Institutions (CDFIs) and Community Development (CD) Banks. These play a significant role in promoting economic growth and inclusion for underserved communities.
This article thoroughly explores CDFIs and the institutions that support CDFIs, outlining their significance, objectives, and how they meet capacity building initiative requirements. We also highlight the federal government’s involvement, explaining its role evolution and the numerous related economic development activities available to those who need them.
What is a Community Development Financial Institution (CDFI)?
Community Development Financial Institutions (CDFIs) are a type of financial institution that provides products and services to financially disadvantaged communities for economic development purposes.
They are essential and critical in promoting inclusion and economic growth to marginalized communities in urban and rural communities countrywide. Legislations like the Community Reinvestment Act help encourage these programs. However, the Community Reinvestment Act is not the only reason for their existence.
CDFI Certification
To become a CDFI, a financial institution must apply for a CDFI certification. This certification ensures that the institution can receive the right federal assistance resources and allows people to benefit from the CDFI fund’s programs.
How did the concept of CDFIs start?
The roots of Community Development Financial Institutions (CDFIs) extend to the 1880s, when minority-owned banks began serving economically disadvantaged communities. These organizations provided essential financial services to areas that mainstream financial institutions neglected or could not reach.
As the years progressed, new types of mission-driven financial institutions emerged. For example, the development of credit unions in the 1930s and 1940s offered alternatives to the traditional community bank that had limited services.
Moreover, new community development corporations emerged in the 1960s and 1970s, providing additional resources and support for underserved areas. These institutions gradually paved the way for the rise of nonprofit loan funds in the 1980s, establishing the groundwork for today’s modern CDFI model.
The Riegle Community Development and Regulatory Improvement Act of 1994 recognized the need to support the growing community development finance sector. With that in mind, it established the Community Development Financial Institutions Fund (CDFI Fund). This fund aimed to promote economic revitalization and community development in low-income areas by investing in and providing assistance to CDFIs.
Since its inception, the CDFI Fund played a substantial role in the growth and impact of CDFIs, enabling them to serve the financial needs of economically disadvantaged communities and contribute to their overall development and prosperity.
Types of CDFIs
Currently, multiple types of Community Development Financial Institutions (CDFIs) exist, each catering to the unique needs and challenges economically disadvantaged communities face. We explore their types and roles below.
Community Development Banks
Community Development Banks are for-profit, federal government supported and regulated financial institutions. These institutions have a board of directors that includes community representatives. CD banks provide affordable banking services, loans, and other financial products to economically distressed and underserved communities.
Operating in these communities creates jobs, improves infrastructure, and promotes economic growth. They also help increase access to capital for small businesses, including affordable housing projects and community service facilities.
Community Development Credit Unions
Community Development Credit Unions (CDCUs) are nonprofit financial cooperatives owned and controlled by their members. As is the case with traditional credit unions, they provide financial services such as savings accounts, checking accounts, and loans.
CDCUs only cater to low-income and underserved communities, offering affordable rates and financial education programs to promote inclusion and help people build credit and assets. The National Credit Union Administration (NCUA), an independent federal agency, regulates these credit unions.
Community Development Loan Funds
Community Development Loan Funds, or CDLFs, are nonprofit entities that finance community development projects by offering loans and technical assistance to marginalized communities. They facilitate access to affordable housing, promote small businesses, and help establish community service facilities to sustain growth. They also serve as an alternative source of capital for those who cannot access traditional bank financing services by offering flexible terms and underwriting criteria.
Community Development Venture Capital Funds
Community Development Venture Capital Funds offer equity and debt-with-equity investments to small and medium-sized businesses in economically distressed areas. They can be for-profit corporations or nonprofit entities.
By offering long-term capital, they help businesses grow, create jobs, and foster innovation. They also provide technical assistance, mentoring, and business development support to maintain the long-term success of their portfolio companies.
Microenterprise Development Loan Funds
Microenterprise Development Loan Funds are loan funds that provide small-scale loans, or microloans, to entrepreneurs and small businesses that might not qualify for traditional financing. They offer small capital amounts that range from hundreds to a few thousand. These loan funds help low-income people, women, and minority entrepreneurs who need smaller loan amounts and more flexible terms.
Community Development Financial Institution (CDFI) Consortia
CDFI Consortia are collaborative networks of CDFIs that pool resources, experience, and capital to increase their impact on community development services. They can access larger funding opportunities and share best practices to serve their target communities by working together. They can also provide joint technical assistance and support services, helping to strengthen individual CDFIs that are part of the network.
Understanding Community Development Financial Institutions
The main goal of CDFI fund programs is to provide affordable loans, community development banking services, financial help, and technical assistance to low-income communities. They foster economic development and empower small business owners, minorities, and marginalized communities by offering access to investment capital and other resources with fewer demands than traditional finance institutions.
CDFIs differ from traditional financial institutions because they focus on community development and serving minority communities. They also collaborate with religious institutions, community service organizations, and rely on federal funding and agencies to address the needs of their target populations.
What’s the federal government’s role in CDFIs?
The Federal Reserve Bank supports CDFIs through various initiatives, tax credits, and programs. One such program is the CDFI Fund, which the U.S. Department of the Treasury administers. The CDFI Fund provides financial, technical, and other resources to CDFIs, casting a wider net to help low income people and communities access their services.
In addition to the CDFI Fund, the Federal Reserve Bank supports CDFIs through programs and training initiatives such as:
Bank Enterprise Award Program
Capital Magnet Fund
CDFI Bond Guarantee Program
CDFI Equitable Recovery Program
CDFI Program
Rapid Response Program
Native Initiatives
New Markets Tax Credit Program
Small Dollar Loan Program
These initiatives by the Federal Reserve Bank provide financial incentives and resources for CDFIs and community development entities to invest in eligible community projects, promote economic growth, and create jobs.
How has that federal role changed over time?
The federal government’s role in supporting the CDFI industry changes over time to respond to the changing needs of disadvantaged communities and the growing recognition of the importance of financial inclusion.
Early efforts, for example, provided seed capital and technical assistance to establish and grow CDFIs. With the maturation and evolution of the industry, the government started focusing on building capacity, collaboration, and supporting innovative endeavors.
Recent changes emphasize leveraging private sector investments, regulatory relief, and encouraging partnerships between the CDFI industry and other financial institutions. Examples include minority depository institutions (MDIs) and mainstream banks.
CDFIs’ Role in Financial Inclusion
Financial inclusion is an essential part of CDFI initiatives. Access to affordable financial products and services helps bridge the gap between poor communities and mainstream financial institutions. CDFIs also promote financial knowledge, support small businesses, finance affordable housing activities, and facilitate economic development initiatives.
CDFIs also ensure that economically distressed communities can access essential community services facilities like healthcare centers, schools, and childcare. Their work helps contribute to these communities’ overall well-being and stability. It creates a solid foundation for long-term economic growth.
Business Model
CDFI business models are unique in combining traditional financial services with a strong emphasis on developing and positively impacting the communities they cater to.
They generate revenue by collecting interest and fees on loans, investments, and other financial products. However, they also rely on grants, donations, and especially government funding like the CDFI fund to support their operations.
CDFIs collaborate with organizations like government agencies, nonprofits, and private sector partners to attain their goals. Additionally, they leverage tax credits, guarantees, and other financial tools to attract more investment capital and support their lending activities.
CDFIs Provide Opportunity for All
CDFIs provide real opportunities by addressing the financial needs of underserved communities to help them succeed and promote their economic growth. To do this, they offer access to affordable financial products and services to communities that experienced systematic lockouts from these programs.
By emphasizing their needs and giving them more accessible and affordable ways to prosper, low-income individuals and businesses have access to essential financial tools. These tools were traditionally out of reach for mainstream financial institutions.
Moreover, CDFIs support small businesses owned by women, minorities, and individuals in economically distressed communities. By offering tailored financing solutions, technical assistance, and business planning resources, CDFIs help these entrepreneurs overcome barriers to entry, create jobs, and contribute to local economies.
Another significant aspect of CDFIs’ work is their focus on affordable housing and community development projects. They finance the construction and rehabilitation of affordable housing units and invest in community facilities like schools, healthcare facilities, and childcare. These are essential to the well-being and stability of low-income communities and help them worry less about factors beyond their control or that are too expensive to access otherwise.
CDFIs also promote financial education and empowerment by providing resources and training to help people develop financial literacy skills, manage their finances, and build assets. These initiatives contribute to breaking the cycle of poverty and promoting economic self-sufficiency.
By partnering with various stakeholders, such as government agencies, nonprofit organizations, and private sector partners, CDFIs leverage resources and expertise to maximize their impact. This creates a ripple effect that extends beyond the immediate recipients, fostering inclusive and resilient communities.
Types of CDFIs
Many community development financial institutions focus on addressing the needs of economically disadvantaged communities. These include community development banks, credit unions, loan funds, and venture capital funds.
Federal agencies like the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) regulate community development banks and credit unions. They offer various banking services, from deposit accounts to loans, catering to low-income communities.
Loan funds make affordable housing possible, support small businesses, and help community facilities. On the other hand, venture capital funds offer equity investments that support small businesses and startups in underserved communities.
“Newer” CDFI Resources
As community development financial institutions evolve, multiple resources and programs are emerging to support their growth and impact. Examples include:
CDFIs as Capital Plus Institutions
Sometimes, community development financial institutions are called “Capital Plus” institutions. This is because they provide investment capital, development services, technical assistance, and financial education to support the long-term success of their clients.
This approach allows community development financial institutions to significantly impact low-income and economically distressed communities, promoting economic opportunity and inclusion.
Emergency Capital Investment Program (ECIP)
The Emergency Capital Investment Program (ECIP) is a federal initiative that provides capital to CDFIs and MDIs to support their lending activities after the economic challenges caused by COVID-19. This program helps ensure that these institutions have the resources to continue providing essential financial services to underserved communities, small businesses, and minority-owned businesses during times of crisis.
Paycheck Protection Program Liquidity Facility (PPPLF)
The Paycheck Protection Program Liquidity Facility (PPPLF) is another federal initiative that supports the lending activities of CDFIs and other financial institutions participating in the Small Business Administration (SBA) Paycheck Protection Program (PPP). By providing liquidity to these institutions, the PPPLF enables them to continue offering loans to small businesses needing financial assistance during challenging economic times.
CDFI Rapid Response Program
The Rapid Response Program from the CDFI Fund provides immediate financial assistance during crises or natural disasters. CDFIs can quickly access funds for disaster recovery, emergency relief efforts, and other needs, serving as “financial first responders” for the communities they support.
These newer resources and programs demonstrate how the federal government, private sector, and other stakeholders support the work of CDFIs and promote financial inclusion and economic opportunity. By leveraging these resources, CDFIs can better address the needs of low-income communities nationwide and foster economic development in urban and rural communities.
As affordability challenges conspire to keep would-be buyers out of the housing market, the nation’s two largest mortgage lenders have rolled out programs that allow borrowers with modest incomes to qualify for a loan with just 1 percent down.
Rocket Mortgage, the largest lender in the U.S. in 2022, announced its ONE+ program this week. United Wholesale Mortgage, the No. 2 lender, launched its Conventional 1% Down loans in April — then made them significantly more generous following Rocket’s announcement.
The rival programs piggyback off of Fannie Mae’s HomeReady mortgages and Freddie Mac’s Home Possible loans. Those initiatives allow borrowers who make less than 80 percent of their neighborhoods’ median income to obtain a conventional loan with just 3 percent down.
Both programs come at a time when home prices remain near record highs and mortgage rates are more than double what they were two years ago.
“With affordability being tougher, people are getting boxed out,” says Bill Banfield, executive vice president of Capital Markets at Rocket Mortgage. “Free money helps people want to buy a home.”
How the 1% mortgages work
To make 1 percent down a reality, both lenders cover 2 percent of the 3 percent down payment needed to obtain a HomeReady or Home Possible mortgage. The borrower supplies the remaining 1 percent.
Rocket offers this scenario as an illustration: A buyer of a $250,000 home with a HomeReady or Home Possible mortgage needs at least 3 percent down, or $7,500. Under its new program, Rocket covers $5,000, or 2 percent of that down payment, through a grant. The borrower then needs to put down just $2,500, or 1 percent.
Rocket’s program also covers private mortgage insurance (PMI) at no cost to the borrower. Typically, lenders require borrowers to pay these insurance premiums if their down payment is less than 20 percent. On a $242,500 loan, those premiums can run as much as $245 a month, according to Rocket.
ONE+ is available to first-time and repeat homebuyers, and there are no limits on assets, just income (more on that below).
United Wholesale Mortgage’s program is similar, following the same guidelines as HomeReady and Home Possible. The lender pays 2 percent of the purchase price, up to $4,000. That means the down payment benefit maxes out at $200,000; a borrower who takes a $400,000 loan under the program would get 1 percent of the down payment from United Wholesale Mortgage, and need to come up with 2 percent.
When United announced its program in April, the down payment assistance was limited to borrowers making less than half of area median income. After taking criticism on social media — and after Rocket rolled out its more generous income limits — the lender boosted its income limit to 80 percent.
What are the income limits?
To qualify for the 1 percent down programs — or any HomeReady or HomePossible loan — you can’t make more than 80 percent of the median income in the area where you’re buying. Those figures vary widely throughout the U.S. A few examples of the 80 percent limit:
Atlanta
No more than $76,560
Chicago
No more than $84,560
Dallas
No more than $76,480
New York City
No more than $90,080
San Francisco
No more than $120,880
To see income limits in your area, enter an address into this map on Fannie Mae’s website.
Is there a catch?
These programs are a sweet deal for borrowers — so much so that there’s no guarantee the terms will stay the same, as evidenced by United Wholesale Mortgage’s decision to boost income limits.
What’s more, the down payment assistance is so generous that the nation’s two largest lenders could decide to pull the plug.
“Some of the features on this are costly for the lender,” says Rocket’s Banfield. “We’ll have to see how it all plays out.”
Another risk for borrowers: They could find themselves owing more than their homes are worth. Median home prices shrank 1.7 percent from April 2022 to April 2023, and home values could keep declining. For homebuyers who put just 3 percent down, a 5 percent decline in local home prices could put them underwater.
The Great Recession infamously played up the dangers of buying with little equity — but it’s worth pointing out that the mortgage market and housing sector are on much firmer footing now than they were 15 years ago. What’s more, borrowers still must qualify based on such factors as debt-to-income (DTI) ratio.
“There’s no stretching the underwriting,” says Banfield.
More lenders are getting creative
In another nod to the challenges facing buyers in a still-expensive market, Movement Mortgage this month announced it’s now allowing FHA borrowers to take out a 10-year second mortgage to finance the 3.5 percent down payment required for FHA loans. In effect, this eliminates the need for borrowers to put down any money upfront. To qualify, you must have a credit score of 620 or higher.
That offer is just one way lenders are responding to the one-two punch of an affordability squeeze and a sharp slowdown in mortgage applications since 2021. Lenders have been rolling out all manner of mortgage promotions, including rate buydowns paid for by the seller and discounts on future refinances.
In another variation on the theme, Rocket earlier this year unveiled a new credit card that allows homebuyers to earn up to $8,000 towards closing costs and a down payment. The Rocket Visa Signature Card offers a generous 5 percent back on all purchases, up to the limit — with the stipulation that the rewards are worth full value only if you ultimately get your home loan from Rocket Mortgage.
Other low-down payment mortgage options
Mortgage lenders and regulators recognize that down payments are one of the primary obstacles to homeownership, so there are several low- and no-down payment loan options. Loans backed by the U.S. Department of Veterans Affairs (VA), for instance, don’t require a down payment.
Aside from HomeReady and Home Possible conventional loans, here are other options for buyers looking to make low down payments:
FHA loans: Insured by the Federal Housing Administration (FHA), FHA loans allow borrowers to put down just 3.5 percent with a credit score of 580 or higher, or at least 10 percent with a score as low as 500. However, FHA borrowers with less than 20 percent down have to pay FHA mortgage insurance premiums (MIP) for the life of the loan.
USDA and VA loans: USDA and VA loans don’t require any down payment, but they’re only for specific types of borrowers: USDA loans for borrowers in certain rural areas and VA loans for active-duty service members, veterans and surviving spouses. Neither charge mortgage insurance, but USDA loans come with guarantee fees and VA loans come with a funding fee.
Have you stumbled upon a scary, strange, or weird experience when visiting a foreign country? Well, you’re not alone! We asked our friends on Reddit to tell us their most alarming stories of traveling internationally. These 12 scary and unsettling stories will make you think twice about visiting the country. Do you also have something crazy to share? Let us know in the comments!
1. Witnessing a Beheading
One user commented, “A beheading in the public market square in Riyadh, Saudi Arabia.”
A second person replied, “I honestly don’t understand why anyone would want to visit countries like that.”
Another commenter added, “Um, I was going to say aggressive behavior from locals, but this is a whole different level.”
2. Lost and Unable to Communicate
“I got lost in an underground city in Tukey as a child. I stepped away from my parents and group to look at something, and when I turned around, they were all gone. I couldn’t find anyone who spoke English for a while until finally a man who spoke a little English helped me find my way back to the surface to wait for my parents to come back out.
“Thankfully, one of the women from our group was already there because she had gotten claustrophobic. Being ‘lost’ was scary enough, but not being able to communicate terrified me. Then, when my parents came up, they didn’t even realize I had been lost. So that became the scariest thing, realizing I wasn’t exactly ‘safe’ with my parents’ inattentiveness,” one user shared.
Another user replied, “For anyone who finds themselves in this situation, just stay where you are and wait for the other people to come back and find you. They will start their search at the last place they saw you, not at the entrance. It’s hard to remember in the moment, but this is the best advice in most cases.”
3. Almost Kidnapped by Locals
One person shared, “When I was in Turkey, my friend and I (F23 and F28) were walking through a small market just browsing. We stopped next to one shop to take a look on something. Owner immediately jumped in trying to persuade us to buy (which is normal) or for my friend (and only her) to go with him upstairs to see more goods. When we refused and turned to walk away he grabbed my friend by upper arm and hauled her to the stairs. We both were screaming and hitting him but he only let go when I twisted his thumb making him loosen his hold. My friend had huge bruise on her arm for the rest of vacation.”
“That’s terrifying. Well done fighting back,” someone replied.
“I’m Australian. I was seeing a Turkish man, and he was leaving to go back home. My parents asked if I was going back with him. I simply said I’ll prolly be stoned on the first day and left it at that. In all fairness he even admitted I’d most likely be shunned by his family and the women would most likely beat me. So there’s that, make of it as you will,” the third added.
4. Being Detained Without a Passport
One person stated, “Detained on the border of Romania and Hungary by Romanian police, put into jail for a few hours and my passport confiscated. When they led me through the darkness to lock me up in some dingy back room jail cell I genuinely thought I was going to be hostel’ed.”
“I took an overnight train from Hungary to Romania once in my early-20s. I had been assured that lots of tourists took this train, but it was virtually empty and I was a young woman traveling alone. It was around 3am when we crossed into Romania, and while my passport had been processed onboard on the Hungarian side, the officials in Romania took it off the train but left me (and the other passengers) onboard.
“I was fully convinced something like this was about to happen to me and I would be totally helpless to do anything without my ID or anyway to contact anyone. Another woman on the train noticed me freaking out and assured me this was normal and everything would be fine, and without her I think I would have completely spiraled in that moment. I can’t imagine how scared I would have been if they’d actually detained me,” shared another.
5. Strangers Breaking into your Room
One user shared, “Taking an overnight ferry during a People to People program in the summer with a bunch of high schooler’s. Overnight from Italy to Sicily. Bunch of younger to middle aged dudes not in the group were constantly hitting on the girls and were trying to proposition them back to their cabins on the ship. A few of us saw some trying to follow us back to our own rooms and a male teacher had to intervene.
“Later that night, when in the room with the three other girls, we heard our door being tested to see if locked. I was fully prepared to claw the eyes out of [anybody] who successfully got in but it was a [very] scary sleepless night.”
“When I was at uni, I must have been around 19/20, me and some friends went surfing down south. We stayed in a hostel. One night we’d all crashed out and a bunch of guys used their key card and broke into our room. I woke up long enough to tell them to get lost, watch the door close and went back to sleep. Another night another group of guys tried to break in. I was out cold and my friends were terrified. The girls and the guys split into two rooms, but we should have just stayed in one big one,” the second person replied.
6. Girl went Missing from a Tour Group
“Girl went missing from our tour group in Scotland. We were pub hopping with a few of us and most of us wanted to go back but she wanted to continue and wouldn’t take no for an answer so she took off on her own. She wasn’t in her room in the morning and forgot her phone and passport in her room. We were tweaking out most the day and almost got the embassy involved when she finally contacted someone.
“Apparently, she got lost going back and ‘stayed’ with a random guy. He was nice enough to pay her way to catch up with the tour group. She apologized to the tour group, so they decided against shipping her back but they did blacklist her from using their agency again,” shared one person.
7. Hearing Howler Monkeys Scream
One user commented, “I was in Costa Rica a few months ago for a volunteer project to clean up plastics from the local area around Jaco Beach. I stayed in the Punta Leona resort as a worker (since they have a contract with the volunteer program), and on the first night when we all went to our dorms to sleep. Roughly 30 minutes into our sleep, there was an ear-splitting shriek outside of the dorm that was so loud it made the whole house rumble.
“I have sensitive hearing so I was up instantly and so were the other girls but they were more annoyed than scared. ‘What was that?!’ I looked to the girl that I had been talking to the most earlier and she waved her hand ‘Howler monkeys do that sometimes. Just ignore it.’ That scream will forever stay in my mind. It was the only time I heard it while I was there but easily the most terrifying thing I’ve ever experienced in a foreign country.”
“I think the closest thing to that you’ll hear in the states is a mountain lion in heat. No joke—in certain parts of the US, if you hear what sounds like a woman being murdered in the woods, DO NOT go and help her. Because that is not a person,” another person shared.
Finally, the third added, “Foxes will also do that. They often freak out newcomers to areas with populations by either screaming like a woman being murdered or laughing like a small child. Also, mountain lions will also shriek like humans, but they like to hunt and eat them. Please be aware of your local wildlife.”
8. Finding Things in your Apartment
Someone recalled their weird and scary experience, “I used to teach English in Japan. I didn’t get off most nights until 9 pm, so it was close to 10 by the time I made it to the train stop near my apartment.
“One night I’m walking home and the street is dead, except for this elementary school boy walking towards me and whistling. In Japan, whistling at night is said to attract demons so I was a bit unsettled by his behavior. The kid just kept whistling. I hurried home, demon free.
“I also used to find long, thick black hair in my apartment in places I’d recently cleaned. I don’t have thick black hair, my hair is fine and red, so that was weird. I also didn’t have guests with hair like that so, who knows!”
9. Street Scammer in Egypt
“In Egypt, as I was leaving, an official guy in uniform came over and asked to see my passport and put it straight into his pocket and said I was being detained. Walked me over to a side office and told me to wait inside.
I didn’t go in and told him (maybe stupidly) that I was about to miss my flight and he said, he could ‘make the process faster’ if I paid the ‘administrative fee’. Fine—a bribe whatever. Wasn’t the first time on this trip. I take out the literal last of my cash and hand it to him, he puts it straight into his pocket and says ‘not enough.’
“I’m explaining that it’s literally all of the money I have and this woman, not in any kind of uniform, walks over to the guy, says something to him quite quietly (like speaking into his ear) and he looks petrified. Just absolutely terrified. Immediately gives me back my passport and not just the cash I gave him but some more that I guess he got from someone else before me and starts apologising to me profusely and even offered to escort me to my gate. She just smiled at me and told me to have a nice flight,” one person stated.
Someone replied, “If there’s one thing I’ve learned from reading travel stories and my own experiences—stay out of Egypt if you want to have a good time.”
10. Locals Insist on Taking Pictures
One person commented, “When I was in my senior year of high school, we went on a field trip to India we were gonna write our senior projects at an orphanage where our teacher knew the owner, I went to a certified U.N school, whatever that means. Anyway, we were on our way to this giant temple and we stopped at a smaller one for a break and snacks. There were people everywhere and since all of us are white, except one dude, we got a lot of weird looks from the locals and a lot of giggles.
“I was talking to four other girls when the security guard asked if he could take a picture with us, that’s when all hell broke loose, everyone wanted to take pictures with us. So when I started walking back to the car, this dad followed me and kept hounding me for a picture and said that I [was very rude] for not taking pictures with his children… We left shortly after.”
Another one shared, “I have heard that there’s a similar phenomenon in rural Japan. Since it’s 99% Japanese, the people in rural Japan may not have ever seen a non-Japanese person before. So if they see a foreigner, sometimes they just do an open-mouthed stare. I heard one person describe the look on their faces as if they just saw a unicorn walk into the room.
“Same person described an incident where she was riding a bike on a narrow path next to a rice paddy, and saw two Japanese girls on bikes approaching her. Normally in this situation the people going in different directions go in single file so that they can easily pass each other without falling into the rice paddy. Well, these girls were so in shock about seeing a white person, they didn’t move into a single file line, knocked her right into the rice paddy, and on top of that one of their bikes sliced into her hand…”
11. Driving Around Costa Rica
One person stated, “Not creepy but different—Driving in Costa Rica. Amazing place full of super nice people. Some of the roads were paved or hard packed dirt. Most were ancient and in really bad shape. Biggest pot holes that I have ever seen in my life. I am not kidding when I say there were plenty of pot holes two feet deep. I was advised to get an SUV with full insurance, which I did and was thankful for.
Other interesting things—very religious country. Shrines all over the place with lights on them—in stores, on corners in the middle of nowhere. First time I saw an entire family ride on a Vespa type scooter. Really impressive, especially on those roads. They also sold some form of moon shine on the side of the road in reused plastic bottles. 10/10 would go back.”
“Another person shared, “Wife is from Costa Rica. The stop signs are more like yield signs. Taxi drivers are insane. Ghetto is… depressing. The people are lovely in general and very open and idealistic. Family is everything to them. You really do marry the family, not just the spouse. I wish they could be more monetarily wealthy in addition to their pura vida. Weird combination of catholicism and [being sensual]. Very open to discussing [physical] topics but very judgmental of certain things. Like my wife and her sister openly discussed my [body parts] in front of me, but the topic of [being gay] wasn’t to be discussed. I haven’t heard of the moonshine and have not yet visited their forests, unfortunately.”
Original Reddit thread here.
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You know the perfect synergy that happens when a character is the perfect fit for the role they play in a movie or show? We put together a whole post to obsess over these perfect moments!
Yesterday I shared the most important money tip: to gain wealth, you must spend less than you earn. Get Rich Slowly has covered many ways to reduce the spending side of the equation. But how can a person increase the earning side?
Consider an entrepreneurial endeavor. Start a small business based around one of your hobbies. It’s not difficult to earn a couple thousand dollars each year doing something you love in your free time. The key is to not let the hobby-as-business overwhelm you. Keep it fun. Don’t let it become a chore.
With that in mind, here are some real-life examples of hobbies I’ve seen people turn into side-businesses. I know people who:
Repair computers. Are you a tech geek? Start a business providing computer advice for family and friends. Help people set up new computers, add peripherals, remove viruses and spyware, and maintain home networks. Consider offering hour-long training sessions in programs you know well.
Make photographs. Sell your photos! Take a community college class to enhance your skills. Enter photo contests. Display your photos at the county fair. If you make a good image, you can sell it repeatedly for $50, $100, $200. I recently met a woman who now makes her living by selling images through iStockPhoto.
Garden. If you have a huge garden, consider selling produce or flowers. In rural areas, you can run a small road-side stand on weekends selling fresh roses, blueberries, tomatoes, whatever. If you live in the city, let your neighbors know you have fresh produce for sale (or trade).
Make music. Can you play an instrument? Hire yourself out to play at weddings or dinner parties. Start a small group. Play at holiday events (especially Christmas). Get creative: play at street fairs and farmers markets.
Write. Do you write well? Offer your services to friends and family. Edit important letters. Proof papers. Compose pieces on commission. Start a weblog about one of your passions!
Build things. If you have a shop and some skills, teach yourself to build tables or bookshelves or cabinets or chairs. Sell these items on craigslist or to people you know.
Knit. If you’ve been bit by the knitting bug, put that yarn habit to work. Create simple, beautiful hats and scarves. Take commissioned projects. My wife is learning to knit adorable little stuffed animals; she could sell them for $20 a pop.
Repair cars. Offer to perform simple car repairs for friends and family. It’s a win-win situation: you make some extra cash, and they save money. (Just be sure not to get in over your head.)
Cook. Do people rave about your food? Offer to cater events. Provide food for a picnic, for a cocktail party, for a sit-down dinner. Sell cookies and cakes.
Haul things. If you have a van or a large pickup, offer your services for transporting couches and dressers, etc. Hire yourself out to haul barkdust and mulch. Help people move. In March, I met a fellow who advertises on craigslist. Several times a week, as he drives home from work, he hauls something from one part of the city to another for $25. It takes little him little extra time and generates a couple hundred dollars a month. It’s his “mad money”.
The possibilities are endless. The key is to examine your passions and talents to find something for which people would pay you. You won’t get rich quickly through these side businesses (though there’s nothing that says you can’t), but you will boost the earning side of your wealth accumulation.
Everyone has something that they can do well. Discover what it is you can do, and then market your abilities. The best part is: you’ll be making money while simultaneously improving your skills so that you can make even more money in the future!
Addendum: Via e-mail, Melissa A. reminded me of another great use for hobbies: “Hobbies are a good way to make gifts for people cheaper than it costs to buy them too.” This helps with the “spend less” side of the basic equation. My wife has given knitted items as gifts. I sometimes give photographs. One of my favorite birthday gifts ever was a batch of chocolate chip cookies.