Refinancing to fund Home Improvements

Unquestionably, refinancing a home loan is a frightening experience for most people. The thought of increasing the total amount of debt, the idea that monthly expenses will be increased, and the fact that one’s home is being put on the line in order to pay for something else are all very sobering thoughts. The decision is usually fraught with some consternation. But what about refinancing to fund home improvements? Is this a good way to renovate or upgrade your home. In most instances, yes.

One of the biggest advantages to taking out a mortgage in order to complete projects on the home is that the equity in the home actually increases. Assuming the renovations are not going to be well beyond the appraised value of like homes in the neighborhood, renovations actually increase the home’s appraised value. Particularly in situations where the insurance company feels that some issues do not meet current code. For example, a leaky roof or old wiring. Invariably, the insurer is going to demand that these items be fixed. By taking out a mortgage to complete these tasks, normally the value of the home will be increased.

Likewise, if rooms are being upgraded because they are sub-par, it is going to add to the house, which is a good reason to refinance. A kitchen with leaky faucets and broken linoleum on the floor and walls, is going to show better to appraisers, insurers, and the lender if it is overhauled. In addition, if the house is sold, it will be more appealing. Windows that are drafty are another area that lenders prefer to be fixed. By investing in the home with the refinancing, it shows that you take a vested interest in the house. Reverse mortgages can be used in similar ways.

Another situation which makes an ideal time to refinance to fund home improvements is when the local or federal governments offer tax incentives. Often, the government encourages residents to upgrade things in their homes in order to meet new standards, or to help the environment. For individuals that do not have the available cash on hand, refinancing can be an excellent solution.

But, there is one caution that home owners should heed. If the house is already mortgaged to its full value or close to it, there may be no value in refinancing to fund home improvements. Obviously if the insurer is forcing the issue, you need to complete the requirements to keep the insurance, but if you are gutting a room to make it nicer, you may have to wait until your financial situation is better.
Lastly, one piece of advice when refinancing a home loan. It is always a good idea to spend some money on the house that is mortgaged. Regardless of the reason one refinances, a portion of the proceeds, no matter how small, should be allocated to improving the house in some fashion.

Knowing What You Know – Intuition in Action

One of my goals with this material is imparting the idea that our intuition is always working on our behalf and when we begin paying attention to it, we can navigate our lives in miraculous ways.

Are you paying attention…?

A very interesting thing happened to me and it was powerful reminder of how our intuition functions and whether or not we are willing to trust ourselves and ‘what we know’ to be true in that moment. Intuition just becomes useless chatter unless we are able to act on it in a significant way.

However, I think we often fail to head the message sometimes is because we don’t trust our instincts and on a deeper level, we fear being wrong or looking stupid. And in my case, (and I am not totally alone on this one – Abraham Hicks) a fear of making a fuss and being unreasonable when others don’t believe you.

The other night, I was in a very loud, dark, crowed restaurant with friends. I was showing them pictures on my phone of my recent travels in Southeast Asia. Not inconsequential to this story, a part of the world also well known for pickpockets. In fact, there are signs everywhere you go reminding you to be careful, so being in a constant state of vigilance with my belongings was definitely in my energy.

A long time had passed and out of the corner my eye, far in my peripheral vision, I saw a very quick movement go down, then up again. It was literally just a flash, but when it registered, I declared before even having to look, ‘my phone is gone. I knew just it.

I grabbed my purse and it wasn’t in there. Not believing me, my friend looked through my bag too. I stood up and looked at the chair my purse was on, felt over it, moved it away from the table and even looked under the table. Our other friend looked around too.

I made a little scene (something totally out of character for me). The owner, a very well know restaurateur in town, walked by and I stopped him. I said, ‘my phone has gone missing. I think someone has pick it up off the floor or maybe pick-pocketed it”. He got instantly indignant that he did not have pickpockets in his restaurant, dismissed me and stormed off. I was shocked by his response.

At the same time a busboy seeing the commotion suddenly appeared and started looking too. All of the suddenly he says “is that the phone your looking for”, pointing to it sitting right in the middle of the chair, a very interesting place for it considering it would have had to move on its own to logically be in that spot.

But I didn’t care, me and my phone were reunited again and that was the sweetest feeling. The owner walked by again and stupidly I said “I must have not see it sitting there”, playing it off like I’m some ditz that doesn’t see a phone sitting there as clear as day. I felt embarrassed for making a fuss, even though I knew I was right. He brushed me off again and walked off.

My one friend is still scratching his head because he too witnessed the reappearance of the phone in a place he had look himself, but my non-believing friend still thinks I just didn’t see it there. I had a deep need for the non-believer to believe me and agree with me, but then I realized it doesn’t matter what she thinks…

Because I know what happened…

The guy saw the phone lying on the ground and picked it up and walked away with it. I got an intuitive hit that was clear to me what had happened and by reacting to it, I was able to avoid losing something of great value to me. Even more amazing, the phone was back in my hand in a matter of minutes of realizing it was gone.

This is powerful stuff happening here, even for an authentic psychic.

Truly I think the person who had it was also on high alert and when he saw me making a fuss, he knew what it was about and was there on the scene before it went any further. And I know that had I not reacted the way I did someone right now would be enjoying the benefits of my phone and the very cool case I got in Vietnam and I would be mourning the loss in more ways then one. Most definitely not happy with myself for ignoring my instincts.

The next day I was listening to a new CD from Abraham-Hicks and Esther told a story about how recently after disembarking from a cruise she began feeling anxious about the luggage getting to the right place because there was a lot of chaos going on around them. Everyone dismissed it, telling her not to worry or get in the way of the process.

When they got to the hotel, much to everyone’s surprise except Esther’s, there was an extra bag in the van of some poor person who was now probably frantically looking for it, making a big fuss, accusing the cruise line of losing it. Everyone told her it was okay if she wanted to make a fuss or check all the luggage tags again the next time she felt this way and no one would stop her this time.

I knew that was a message for me too. It’s okay to make a fuss when you know what you know to be true. Don’t let others tell you otherwise. It doesn’t matter what anyone thinks anyway. You have to follow your instincts and don’t be afraid to react for fear of looking stupid.

Intro to Real Estate Investing

Investing In Real Estate: Simple Tips And Tricks

Real estate investing can be lucrative, but only if you take the time to get educated. The foundation of this knowledge begins in tips and techniques. Keep reading to learn how successful people make money with real estate investing.

Do not be afraid to spend money on marketing. It is easy to just focus on the numbers and get fixated on how much marketing is costing you. However, it is important to think of the marketing as an investment in and of itself. If done the right way, it will only benefit you in the end.

Be careful about choosing properties with strange room layouts. You may personally find it interesting, but many people don’t like these strangely developed properties. They can be extremely hard sells. Picking one up without a potential buyer in mind can lead to it sitting in your inventory for months, if not years.

There are two main guidelines to consider when entering the industrial or commercial real estate market. Firstly, do not overpay for the plot. You don’t want to overpay for the actual property. Think about how much the property should currently cost and figure out how much you can get for it. You must settle on good findings for these numbers in order for you to make the decision to buy.

Build a strong team that is going to work with you during the whole process. This means that you will need to get a realtor, accountant and lawyer that will help safeguard you in case anything goes wrong in the process. These people will also give you great advice while you invest.

When you invest in real estate to rent the property, make sure you’re able to get your money back within a reasonable amount of time. If it takes you years to get the money back in rental payments, then it will be hard for you to use the money on anything property related.

Make sure you check out the neighborhood before buying a property. You always want to look into the other homes values and how they have been selling on the market. Where a property is will help you to determine what it’s worth.

Be wary of any prospective tenant who tries to negotiate the rent. While he or she may just be a savvy businessperson, they could also be in a financial bind. Ask a few more questions and be careful about signing a contract with them. You may find yourself constantly fighting to get your monthly payment on time.

Know the value of your time. Rehabbing properties may be fun to you, but is it really worth your time? Consider if you could better spend your time by searching for the next opportunity. Whatever you can outsource, do it. It’s worth it to free some time for focusing on other important aspects of the business.

If you have an investment property, one of the most important things to have is an emergency fund for unexpected repairs or emergencies that might come up on the property. One way you can do this is by putting aside some of the monthly rental money you collect for this purpose.

While you can create a diverse portfolio by investing in different locales, make sure you also tap into your local sources. You live in this area and know it personally, so the odds of finding a great deal are much higher. You should think about starting out in your local community to find good deals.

Never buy properties only to run up the number that you totally own. This is a habit among novice investors in real estate, but you’ll learn that having more isn’t exactly better. Make sure you do your research and investigate based upon quality instead of quantity. This makes sure your investments are good.

The best real estate investment you can make is purchasing and renting out one bedroom condos. Most people that are in the market for a rental property are single may they be young singles, divorced middle-agers or older widowed people. Though remember, seniors can’t pay for a rental property with the proceeds of a reverse mortgage. It is not only the easiest property to rent, but also the simplest to manage.

If you wish to make real estate investment part of your income, keep the properties close together. You can avoid expenses that are unnecessary, like time and gas, when you have to travel in between them. This will also help you to gain more knowledge about the area.

Do not immediately buy a property at or near a major road intersection just because of where it sits. While it is true that gas stations excel at making money this way, sometimes other businesses like restaurants suffer. Check a potential property out at various times of day and even throughout the week. Certain traffic patterns might make the place a pain to get in and out of, which might be why it is for sale.

Having read the article above, you should feel more knowledgeable about real estate investing. Everybody can be successful when sticking to what works well. Learn all you can, so you can make as much money as possible.

Minority Business Entrepreneur Magazine Announces Wrap Reception

MBE Magazine announced its 30th anniversary celebration…

MBE magazine’s 30th anniversary celebration started on June 23 last year in Philadelphia, PA, and “wraps” up on the same date this year in Austin, TX. “It’s hard to believe a year has already passed,” said Barbara Oliver, president of Enterprise Publishing Inc. and publisher of MBE magazine. “But it’s exciting to think we’re starting a new journey to the next 30 years.”

The Wrap Reception happens at the annual WBENC (Women’s Business Enterprise National Council) National Conference and Business Fair, immediately after the Welcome Reception and at the Hilton Austin.

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