How to Create Wealth from Your Property

Most individuals who already own multiple properties wrongly ignore key wealth creation concepts that could possibly unlock their ability to expand their portfolios of properties. Wealth creation is a cycle that cannot be completed overnight, so the first step is to have a clearly laid-out, long-term plan and goals that will drive your project. When building wealth via properties, here are 7 important factors to consider, especially if you are new to the business:

1. Specialization Area

It’s important to recognize the types of assets and the market you want to reach. If you are in the student leasing business, it makes sense to buy multi-tenant properties located next to colleges, whereas if you concentrate on renovating and reselling for a profit, it may be suitable for you to find distressed, stand-alone properties priced below their market value. However, as you continue to expand your portfolio, you may then consider diversification of assets.

2. Market Trends

Research influences your success in this field, and recognizing where to buy, when to purchase, how much to pay for a property and knowing the right time to sell a poorly performing asset can decide your success.

3. Start Small and Work Your Way Up

The biggest mistake that most beginners make is financially overstretching themselves by searching for assets outside their means. Start investing in more affordable properties and work your way up. If you are relying on a mortgage to purchase a property, make sure you have fully researched what you can afford and you fully understand all the mortgage jargon that comes with it.

4. Maximizing Assets

Using existing equity in the properties you currently own can help you leverage attractive opportunities. Also, lenders can provide you with a variety of solutions tailored to your needs, with a fair mix of rates, access to capital and flexibility around repayment options.

5. Cash Flow Management

The cash flow is the lifeblood of your property portfolio as in any other company. Not only is it essential to keep track of money coming in and out of your portfolio for strategic decision making, but borrowers may also need your cash flow statements to accept loans in the future. Monitoring your cash flow may also help you to determine assets in your portfolio which are over-and under-performing.

6 Using a Technological Advantage

Innovative digital tools can provide you with access to valuable property information simply by clicking a button. There are numerous real estate tools and apps for property owners that you can take advantage of to create wealth.

7. Using the Right Professionals

While it might not be necessary when beginning, engaging with a team of professionals should be considered as your portfolio expands. You need a list of qualified professionals, such as estate and leasing agents, tax practitioners, attorneys, architects, construction contractors, electricians, plumbers, and valuators, among others, depending on the type of portfolio you’re seeking. Although some of these experts’ services can be expensive, in the long run the investment will be worth it.

Finally, establishing a long-term relationship with a private banker who knows and understands your financial goals and priorities and can provide creative, carefully thought-out solutions to help you grow your property empire.

Investments for beginners – your straightforward guide

Knowing what to do with your money and how to invest it is often the most difficult and confusing aspect of managing your personal finances. When we think of investments it’s natural to think of ISA’s, stocks and bonds and even cryptocurrencies such as Bitcoin – Iconomi can help you with your bitcoin investments, click the link to find out more. Many people are wary of investments due to a fear of the unknown, after all the seemingly cutthroat world of investments can lead to you losing money – or your entire life savings if you were initially bold enough. Who do you buy from? Who can you trust?

However, successful investors will tell you that investing doesn’t have to be a stressful or frightening concept if done correctly, it’s actually an enjoyable as well as a potentially rewarding experience.

So, if you’re stepping into the investment arena for the first time, what investment principals should you be made aware of? Read on for a straightforward investments guide.

Start investing as soon as possible

Don’t be fooled into thinking that stocks and shares are just for older men in suits. The sooner you start investing, the sooner your earnings will multiply, which in turn means you’ll have to invest less to reach those investment goals. So, start today. 

Speak with a financial advisor

It’s common sense to seek out professional advice before you invest your hard-earned money into anything. Avoid jumping straight into a potential investment simply because you’ve received a good tip. Reach out to a financial advisor first and don’t spend a penny unless you’re completely sure it’s the right thing to do.

Save money first

A simple concept, but a wholly accurate one. You cannot invest money you don’t have, therefore saving as much as you can, will certainly go a long way. Consider ways of trimming your monthly budget and focus on building your funds before you take them to the markets. It’s also important to ensure you have enough money to pay your bills each month and the capacity to pay for your other financial responsibilities. Don’t leave yourself short or overstretch your paycheck.

Learn as much as you can

Market trading is complicated, even the terminology is puzzling, to say the least. However, the more you learn, the better your decisions will be. Learn as much as you can about creating your own portfolio, market behaviours and patterns, jargon as well as stocks and bonds.  The more you learn, the more you’ll enjoy your investment experiences.  

Keep it simple

When investing, it’s important to keep within the realms of your understanding. Friends, family and colleagues may be trying to tempt you away from what you know but straying away from what you know could cost you – literally. Keeping your initial investments simple will always serve you better than risking it all on something you know very little about.

Keep yourself informed

Keep tabs on your investments, read relevant news articles and keep yourself informed of any emerging market trends and the state of the global economy.

Learn from your experience in trading

After starting to trade in the Forex marketplace, many rookie focus on improving their strategies. Some may not have enough money to learn from the paid courses. Whereas, some struggle with the idea of improving their trading plans. Majority of the rookie traders get a wrong idea about the proper improvement of their trading strategies. As they mostly remain worried about the potential losses, they cannot concentrate on the improvement. But you must improve your strategies and edge to execute quality trades. If you can improve the trading edge, you can control the procedures and the positions of the trades.

But without understanding how to change the strategies, you cannot improve them. So, you will need valuable reference for improving your ideas. When you will learn from your experience and try to improve your strategies it will be very effective. Your experience will be very influential for changing the strategies and procedures. Thus, you can also find secured process of executing trades safely. And when you will find out a mistake, it will be easy to change them and to improve quality. This article is based on the same philosophy as learning from your experience. Try to read it carefully and also to develop the most effective plans your trades.

Improve the risk management plan

Nobody could deny the importance of money management for a business. In the Forex trading business, you will need it to use it efficiently and to secure your investment. The only difference is you use the strategies to determine a proper risk exposure whereas, conventional businesses you will prepare a cost-effective plan for the system. Still, the benefit of proper risk exposure is very crucial for the rookie traders. You must use this strategy to determine the safest risk per trade strategy. If required use the free Forex demo account for beginners to learn more about this profession.

In the beginning of your career, you may have a very poor strategy. For example, your trades may plan to execute a standard lot and to take a 1:100 leverage for each trade. But with time, the traders can improve their plans by learning from their experiences. The demo trading account would be secured for the traders to practice a secured money management plan.

Develop the analysis skills

Besides a secured risk management plan, Forex trades also requires effective market analysis. The traders need to use technical and fundamental analysis for the executions of the trades. You can use the money management strategy to make plans with risk to reward ratio. When your target is set, you can you can focus on appropriate market analysis. Using a potential price driving catalyst in conjunction with the technical analysis, you can find out the best trade setups. But, you cannot ensure a quality performance while studying the markets while you are novice.

For example, you maybe analyzing markets only with supports and resistance zones. You must improve the strategies with advanced tools like Fibonacci retracement. Indicators and common chart patterns are also very good for effective technical analysis. To improve the analysis quality, you can use multiple timeframes.

Find suitable setups for the trades

You can only execute quality trades when your mind is prepared with efficient strategies. And to find suitable trades in the markets, you will need effective skills and a strong edge. But, the traders should motivate themselves to increase patience. If they think about only the profits, big mistakes like overtrading, micromanagement and high risk exposures will be noticeable in their strategies. On the other hand, traders with a greater interest in the trade setups will use simple strategies to execute the trades.

The returns may be subtle from their positions but consistent profit can be assured from this strategy. To maintain control over the trades, the traders have to choose a better setup over the big profits. Use a demo platform to learn about the system. While you are performing in the demo platform learn to find suitable trade setups.

Getting to Know Gold IRAs: Are They the Right Option for Your Retirement?

Is it a good idea to invest in gold? The answers to this commonly asked question tend to go to one extreme or the other. There are some investors that believe investing in gold is a losing proposition. That’s because it pays no dividends or interest, and it costs you money to protect and store it.

However, on the other side of the argument, investors believe as the U.S. dollar loses its purchasing power, gold is going to retain its value. Many experts are worried that eventually, debt and inflation combined are going to cause the dollar to lose all value.

If you lean toward the side that believes gold is a smart investment, you may be interested in a Gold IRA (individual retirement account). However, before making gold IRA investments, you need to know how they work.  

Here you can learn about gold IRA investments

Explanation of the Gold IRA

While most IRAs invest in traditional assets, such as bonds, stocks, and the cash equivalents, it’s also permitted by the tax code for “self-directed” vehicles, which can hold various precious metals, such as gold or silver. However, this doesn’t mean that every type of precious metal is allowed in your IRA.

The tax code has outlined what precious metals and the purity rate that is required for gold and other metals to be included in an IRA. Keep in mind, it’s only platinum, gold, silver, and some palladium that meets the set requirements. All other types of precious metals, including jewelry and collectible coins, aren’t allowed.

Setting up your Gold IRA is a multi-step process. You need a custodian, and to find an approved depository. Next, you must purchase the precious metals or gold, such as palladium, platinum, and silver that are approved and transfer them to the depository in a way that the custodian can account that it was done.

Required Minimum Distribution (RMD): Everything You Need to Know

Upon reaching 70.5 years old, you have to take the RMD from a traditional IRA. With a Roth IRA, these are subject to the RMDs. If you have a traditional IRA, you must have proper liquidity to take the required distributions. Meeting these rules with a Gold IRA is more challenging. You may find you have to sell your holdings to adhere to the requirements.  

There is good news, though. If you have another IRA account, the entire RMD can be taken out of it. Make sure to consider the RMD rules when deciding if you want a traditional or Roth Gold IRA.

What is the difference between Roth Gold and traditional IRA?

Is the Gold IRA a Smart Investment?

Investing in gold is popular, but there are certain things you need to understand. You have to ensure your investment portfolio matches your risk tolerance, along with your time horizon. It’s important to make sure your decision to include this type of alternative investment is going to work with your bigger financial goals.

Don’t forget, when you include gold as part of your retirement IRA, you are helping to diversify your portfolio. This can help to alleviate some of the worries over the economic uncertainty that was mentioned above. While this is true, if you choose to move forward with a Gold IRA, it only needs to be a small part of your retirement savings or plan.

There are other ways to include gold (and other metals) in an IRA, too. For example, with Gold EFTs you can sell and buy shares and then hold them in the conventional 401(k) or IRA. Be sure to explore all the available options when making a decision about retirement savings and investing. This will help ensure you choose the right option for your needs and situation.

Top Methods for Funding Your Real Estate Investment

One of the biggest challenges real estate investors face when trying to flip properties is finances. The cost of investing in a property is just as extensive, if not more so than buying your own home. As such, the need for financial assistance is highly likely. There are several avenues you can take to get the money you need to secure a real estate investment. Below, are some of the most common:

Cash

One of the best ways to invest in real estate is essentially with your own money. The more money you are able to accumulate on your own the less debt you accumulate. This is also one of the quickest methods to get a property to flip. Those who purchase properties in cash can often get better deals and faster closings which increases their profit. As most people just starting out don’t have that kind of money lying around, however, they often use their own funds and a combination of resources listed below.

Hard Money Loans

Hard money loans are ideal for real estate investors who are looking for a short-term lending opportunity. These loans are popular because they are provided based on the value of the property and not the investor’s credit. Look for a hard money lender in Sacramento and other metropolitan areas that can get you the funds in just 48 hours if approved. The loans are short-term lasting a few months to a year, however, and so are ideal for those flipping properties for a quick sale or those who are in need of funds until they secure more long-term options.

Partnerships

The right partnership can lighten your financial burden while still earning you a sizeable profit. It is ideal to look for someone who has real estate investment experience as well as the capital to bring to the table. You two can negotiate terms with how the partnership will work. In some cases, the partner’s finances are used to fund the project and you’d be responsible for the leg work. However, your partner may be knowledgeable and interested in flipping properties as well. In which case, you’d want to iron out details of who is responsible for what.

Mortgages

If you’re in no rush to secure funds for a real estate investment and you have decent credit, you can look into traditional mortgages. Keep in mind, however, that applying for a mortgage for a home you plan to live in is slightly different than a mortgage for an investment property. For starters, you’ll be required to pay 20% or more as a down payment. You will also be limited to the number of mortgages you can take out for investment properties. So, if you have several properties already under the mortgage contract, it may be hard for you to get approved for another. 

Portfolio Lenders

Banks and other financial institutions often lend money that doesn’t belong to them but to a government entity. Therefore, they are required to hold borrowers to high standards when it comes to eligibility. As it can be difficult to get a traditional mortgage these days, there is another option you might consider for funding – portfolio lenders.

Portfolio lenders are banks or credit unions that offer funds for investment properties using their own money. This means that they can be a bit looser when it comes to eligibility requirements.

Lease With an Option to Buy

Here’s another concept that can be used to purchase an investment property. When you lease with an option to buy, you’re essentially agreeing to purchase the residence after you’ve rented for a predetermined period of time. You and the current owner go over the purchase price at the time of signing and your rental payments are credited towards your purchase. Since you’ll be flipping the property, you do want to make sure that renovations and repairs are allowed and entered into the contract before you sign.

When you don’t have the cash upfront to cover the cost of purchasing an investment property, there are other solutions like those discussed above that can be used to your advantage. As you decide which route is best for you, just remember to weigh the pros and cons of each and to compare the overall costs to your budget to ensure that you’ll end up turning a profit when it’s renovated and ready to sell. 

Marijuana Penny Stocks: Everything You Need to Know to Invest Wisely

There are many penny stocks lately. Most of these have doubled in price over the past few years. These massive moves and growth have attributed to several factors. These include investor belief that it will be an opportunity for pot and marijuana companies to succeed, as more states and countries legalize hemp, marijuana, and CBD oil. These are for both medical and recreational purposes. The legalization of marijuana has opened up more benefits and fewer risks. Companies likeCronos Group and Canopy Growth have received an enormous boost in markets and have learned to specialize in it.

It is not difficult to see why other investors are putting their trust in weed. This legalization opens doors that were previously inaccessible. These doors bring forth many economic benefits. In Colorado, one year after the legalization of marijuana in 2015, their botanical industry hit $1 billion in revenue, and has since maintained a steady growth threshold. Most states that have suffered budget cuts will enjoy this growth in revenue.

Thus, as an investor, gambling on these top marijuana penny stocks is much more compelling than jumping into any other venture. While these investments also have risks, there is a vast number of upside possibilities with these sector players.

What Are Marijuana Penny Stocks?

Marijuana penny stocks are small companies that are in the legal marijuana sales industry. These companies play a role in the growing and selling of pure marijuana to customers through dispensaries. Companies outside this industry can also be involved in the weed booming business through ties in the industries. For instance, companies in the transport industry would have ties in the industry by offering their services for the ready pot.

Benefits of Penny Pot Stocks

When you are investing in stock markets, there are two things you need to do. The first thing is to pick a sector that has massive growth potential. It should receive constant news coverage and thus causing considerable moves in the sector’s stocks. Generally, it should be something that everyone is genuinely thrilled about.

Secondly, you need to find a small company that is primed to profit from the hot sector, where a flood of frenzied traders could come in and push up the huge amounts.

Things to Consider When Choosing the Best Marijuana Stocks

While the industry is growing, there is still the risk that one wrong investment will cost you a great deal of money. Here are a few ways to find the best place to invest in.

  1. Decide the Stocks to Pick

The first thing you need to do is research thoroughly on all the penny stocks available. You need to find out what you are looking for. As you search for the best stock, keep your eyes on volatility. If there is no price in action, then the profit potential is low. You also need to check the volume of shares. There is absolutely no reason to dive into a play where there are only 1000 shares.

  • Trade Only In Hot Stocks and Be Ready To Grab the Profits

There is no use buying stock in a company that no one cares about. This only means that the stock will not go anywhere. If nobody notices the stock, nobody can profit from it. Hot stocks are those that people are talking about, these are ready for big moves, and the charts look clean.

When you know what to look for, then there is a high chance that you will profit from the stock. You also need to make sure that you research to get the money.

Clever Ways for Sports Fans to Make Some Money

Millions of people all over the planet love watching sports. Yet, most of them find that this is an expensive hobby. Wouldn’t it be better if you could make money from sports rather than spend it?

This might seem impossible to do at first. However, there are already plenty of people earning cash in the following ways.

Sell Sports Memorabilia

A huge, lucrative market exists for all types of sports memorabilia. Do you have signed photos of NFL players, old baseball cards, or a piece of equipment once used by a famous golfer? Even seemingly worthless items can be worth a fortune to serious collectors.

Among the most expensive pieces of sports memorabilia ever sold was Babe Ruth’s 1920 jersey at $4.41 million and a Honus Wagner 1909 baseball card that fetched $2.8 million. If you don’t have anything to sell, then you could hunt for items at markets and auctions before selling them on at a profit.

Set Up a YouTube Channel or Blog

With so many sports lovers around, it is no surprise to see that many people search online for news, gossip, and information every day. Setting up a YouTube channel or blog can be a fine way for you to share your passion and make money at the same time. This is a satisfying type of business that lets you provide a useful service too.

You could monetize your activity by placing ads on the site or by selling goods. A good idea for attracting visitors is to focus on just one area. For instance, you could only cover food at NFL stadiums or look at NBA tactics, rather than try to cover too many things at once.

Place Some Smart Bets

Betting on sporting events is a lot easier if you are already a huge fan who knows a lot about your chosen sport. Stick to your main specialist area and only place bets on those games where you feel that you have a good enough level of knowledge to predict what will happen.

Play in a Fantasy League

Fantasy leagues give sports fans the chance to have some fun while showing off their knowledge at the same time. It is common to play these leagues among friends, while they can also be played among strangers online these days too.

Taking part in a sports fantasy league can be a way of making money as well, as you can earn prizes for performing well. A lot of people take this activity very seriously, so you will need to put a fair bit of time into looking at statistics and other data. Look for big prizes on competitions that don’t have too many players in them.

Become an Affiliate

You could also look to become an affiliate with a sports-related business. This means that you earn commission for directing customers to buy tickets, gear, or whatever else the company offers. You might even feel that you are helping out by pointing people in the direction of the best deals.

Like any selling business, it isn’t easy to get started on this. However, there is a huge market of sports fans out there that you just need to find a way of tapping into.

If you want to earn some extra cash, then why not put your love of sports to good use in one or more of these ways?