REIA NYC Blog
Real Estate Investors Association NYC

3 Common Mistakes Rent - to - Own Buyers Make

A rent - to - own arrangement can make home ownership a step closer even if you do not currently have the money to buy a home. But, you need to be aware of the pitfalls. How It Works Under a rent - to - own arrangement, you rent a home at a slightly higher than average rate with an agreed upon potential purchase date and purchase price for the property that can be several months to several years away. You can purchase the property at any poin ..

The 5 Rules of Investing in Rental Properties

Investing in rental properties can be a good way to introduce diversification to your portfolio of assets over the long - term. But, investing in real estate isn't easy - especially for first - time investors. Your chances of getting a decent return will be significantly affected by how you approach your investments and how willing you are to properly research the income potential of a property. To get you started in the right direction, ..

REPAYE Makes Your Student Loan Payments More Manageable

In order to combat the rising tide of student debt, the government has tried to make repayment of student loans easier for mid to low income borrowers. Its series of income - driven repayment plans, such as the popular Pay As You Earn program (PAYE), cap your federal student loan payments at a percentage of your discretionary income - a percentage that can range from 15%, all the way down to 0%. Plus, income - driven repayment options o ..

Should You Open a 529 College Savings Plan?

According to recent College Board data , the average budget for an in - state public college is about $24,061 a year. For a private institution, that average jumps up to $47,831! While the price of college may seem overwhelming, the government provides several programs to make it more doable for parents who want to help off - set the cost s of their children's college degree. One such program is the 529 College Savings Plan . Named after ..

Student Loans and Your Credit Score: 4 Little Known Facts

Many student borrowers are not sure about how their educational loans will ultimately affect their credit score. Are these loans just like any other, or is their impact somehow different? The answer is, it's a little bit of both. On one hand, the effect of your student loans is very similar to any other institutional loan. Pay on time, and your credit score goes up. Don't pay on time, and your credit profile will suffer. On the oth ..

What is the Best Structure for Your Business?

One of the first things you need to do when starting a new business is deciding how it will be set up. Your decision will affect your tax status, will determine who has ownership in the business, and will delineate your personal liability if the business becomes heavily indebted or closes down in the future. In terms of business structure, there are basically three main categories: a sole proprietorship, a partnership, and a corporation. Bel ..

What to Include in Your Business Plan

Whether you are trying to raise startup capital or you are in the process of expanding your business, writing a business plan should be your first move. The idea behind a business plan is pretty straight forward. It essentially is a written outline that evaluates and defines the major aspects of your business, including the proposed product or service, the targeted market, and the economic potential. Creating a business plan will be ..

How to Finance Your New Business Without a Loan

It takes money to make money ... Though some have debated the validity of this aphorism, when it comes to starting a new business, it is an unavoidable fact. Even the most simplest of business ideas will require some kind of monetary investment on your part. For example, you may need an upfront amount of cash that can be used to for equipment, supplies, and other business expenses. You may also need to provide for your personal living expens ..

Mistakes To Avoid When Financing Your Home

Buying and financing a home is the most important personal financial decision we will make in our lifetime. Over a lifetime, the average homeowner may pay one-half of a million dollars or more in mortgage interest, many times more than any other single expense. Yet, the process and substance of home finance remains a mystery to the average American. We tend to know much more about our automobiles than we do about mortgages that make our h ..

Home Equity Line of Credit Part III

During the past two segments we have introduced the concept of a home equity line of credit and whether we should retire the line of credit if we have the cash or are refinancing. This segment we would like to conclude our three-part series by looking at the Home Equity Line of Credit (HELOC) in terms of helping finance a home purchase. There are several uses of a HELOC with regard to this situation– 1. Lessen the cash necessary for ..