Trading land like a billionaire relies on three simple premises. The first one is to acquire the land for cheap. The second one is to never intend to sell it. The third one is, if you trade it, trade up. Howard Hughes Billionaires that start with an inheritance have an advantage. Howard Hughes was born into wealth. His father invented an oil drill that penetrated difficult, hard rock, which made Howard Hughes one of the richest men in the world from his inheritance. Hughes visited Las Vegas during WWII for the first time. Then, in the 1950s, he traded some parcels of desert land that he owned in Northern Nevada for 40 square miles (26,500 acres) of federal land. This property, managed by the … [Read more...]
3 Important Things To Consider Before Listing Your Home on Airbnb
Airbnb has become an attractive way for homeowners to make income from their property. Although Airbnb's is known for its reputable insurance policy, there are a few things you should consider before listing your home online. Time Commitment People have a tendency to think more about what they can gain from hosting on Airbnb than what hosting will do to their life. Having a steady stream of guests is quite a time-consuming endeavor; you'll have to respond to inquiries online, clean your guest's space and do laundry after every booking, and make sure your home is constantly neat and tidy. This may seem like a small to-do list, but if you have a new guest every 3-4 days that could add up to … [Read more...]
3 Ways That You Can Leverage Mortgage Financing to Build a Real Estate Investment Portfolio
Real estate may be one of the most important things that you will ever invest in, but it can also be a useful means of increasing your financial well-being. If you're getting into the real estate game and are wondering how you can make use of investing in homes to improve your net worth, here are three ways you can successfully work towards a real estate investment portfolio that will make you proud. Home Equity Line of Credit Loan Also known as HELOC, this is the type of loan where a homebuyer taps into the equity of their home while they are still paying off their mortgage. As the equity that has been paid into the home is available without the homebuyer having to apply for it, this allows … [Read more...]
Three Key Points to Remember When Investing in a Cottage or Waterfront Getaway
If you're looking to invest in a cottage or waterfront getaway, there are three key things to keep in mind throughout your search. How's The House? Even if the lake is the highlight of a property you're considering, it is important to make sure that the home is equally as great as the beautiful body of water it borders. How's its orientation? Is it built on the ideal angle to take full advantage of the sun? Does the deck or large windows face another house directly? The orientation is an important factor to consider as it can make or break the comfort of the property. You'll also want to consider the lot itself, as many waterfront properties are not built on level lots, but rather on sloping … [Read more...]
