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Perfect Tenant or Expensive Deadbeat? Turn the Odds in Your Favor with Background Screening

Not long ago, I found myself attending a convention in Las Vegas. I’m not much of a gambler (I’m too cheap), but hesitantly agreed to play blackjack with a few of my colleagues on our last night in town. The first hand I was dealt contained an ace and a jack – a combination of “21” that paid me back one and a half times what I bid. It turned out this game was pretty easy! You can probably guess what happened  ..

Your 7-Step Resident Screening Checklist

Are you new to the world of real estate investment, or just want to start finding better tenants? Either way, here’s a simple checklist you can use to protect your investment or property when evaluating someone who wants to rent from you: #1: Use an Approved Application Ideally, you want to use online applications with mandatory fields (check with your screening company to see if this feature is available). That way, you can make su ..

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 ..

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 ..

The 5 Rules of Investing in Rental Properties

By Dr. Teresa R. Martin, Esq., REIA NYC 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.  ..

REPAYE Makes Your Student Loan Payments More Manageable

By Dr. Teresa R. Martin, Esq., REIA NYC 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%.  ..

Should You Open a 529 College Savings Plan?

By Dr. Teresa R. Martin, Esq., REIA NYC 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  ..

What is the Best Structure for Your Business?

By Dr. Teresa R. Martin, Esq., REIA NYC 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 proprieto ..

What to Include in Your Business Plan

By Dr. Teresa R. Martin, Esq., REIA NYC 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 economi ..

How to Finance Your New Business Without a Loan

By Dr. Teresa R. Martin, Esq., REIA NYC 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 ..

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