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Real Estate Math: How Much Do I Need To Save For A Down Payment On A House?

If you’ve been thinking of buying a house, you probably know that you should start saving up toward a down payment. However, if you’ve ever asked yourself how much you should be saving, you’re not alone. I’ve broken down the math for you below. Use these equations – and calculators – provided to figure out your savings goal.

Find out how much you can afford to pay in housing costs each month

Conventional wisdom states that housing expenses should never exceed 28% of your total monthly income. Using that figure, if you make $5,000 per month, that would translate to a monthly housing payment – which should include additional costs like taxes, mortgage insurance, and HOA fees – of $1,400 per month.

To find your amount, the math would look like this:

Your monthly take home pay x 0.28 = Your ideal monthly housing payment

Learn how much house you can afford

Once you have your ideal monthly housing payment in hand, you can use that to find out how much house you can afford. To do this, you’ll also need some additional information. You’ll also need a projected annual interest rate and the number of monthly payments you’ll make over the life of the loan.

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The formula for this is as follows:

Loan amount = (Monthly payment/(Annual interest rate/12) ) x (1 – (1/(annual interest rate/12)*number of monthly loan payments)

The math here can get pretty complicated so I suggest using this calculator to do the legwork instead.

Continuing with the example above, that $1,4000 monthly payment over a 30-year loan with an interest rate of 5% would average out to a loan amount of $260,794.26. For the purposes of this article, I’ll round it to $260,000.

Zero in on your down payment amount

These days, you need to be prepared to make a down payment of at least 3.5% – 5%. However, if you aim higher and save up a down payment between 10% and 20%, you’ll have access to better interest rates, which could save you money over the life of the loan.

No matter how much you decide to save, the math will look like the following:

Your total loan amount x down payment percentage = down payment amount

In the example above, if I used my $260,000 loan amount and wanted to make a 20% down payment, it would look like:

$260,000 x 0.20 = $52,000

The answer you get is equal to the amount that you should aim to save up to put towards a down payment.

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As a real estate blogger and content creator from a family of Realtors, home buying and selling is what I know. In addition to Forbes, my work can be found on Realtor.com, ApartmentTherapy.com, and Freshome.com. I also work with individual real estate agents to boost their digital marketing strategies. Find me at TMRealEstateWriter.com or on Twitter @TaraMastroeni.

Source: Real Estate Math: How Much Do I Need To Save For A Down Payment On A House?

For more than 40 years Donaldson Real Estate School has prepared students effectively for the real estate exam. A major part of student success is their mastery of the real estate math portion of the test. In this video, Chris will explain what we call our “secret sauce” to mastering real estate math: The Donaldson Math Circle. The Donaldson real estate math circle helps applicants preparing for their real estate exam by breaking down many of the algebraic formulas needed to pass the test into one simple to use system. ———————————————————– Donaldson Educational Services is the #1 source for professional exam preparation, pre-license education, post-licensing, and continuing education in a variety of industries. Featuring programs to gain a real estate license, insurance license, mortgage license, appraisal license, home inspection license – Donaldson is truly a one stop shop for your professional education needs. Keep up with Donaldson here: http://donaldsoneducation.com Twitter: http://www.twitter.com/donaldsonschool Facebook: http://www.facebook.com/donaldsoneduc… Subscribe on Youtube: http://www.youtube.com/donaldsoneduca…

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Real Estate Investing 2.0: Unique New Approach Goes Beyond Crowdfunding

A combination of legislative reform and advances in cloud-based digital technologies has made crowdfunding a reality in real estate investing, but it has done little to overcome other barriers to entry. Now, a new business model is taking things to the next level.

While companies like RealtyMogul and Fundrise used crowdfunding to make real estate investing more financially accessible, many investors still consider it too daunting a prospect to venture into. Crowdfunding marketplaces require individual participants to choose the ideal investment and assume most of the risk themselves, and many people are simply not comfortable doing that.

Recognizing those barriers, entrepreneur Eran Roth came up with a plan to take real estate investing to the next level. Iintoo, the company he founded, is built around a REIMCO (real estate investment management company) business model and only offers deals that have gone through a rigorous vetting process based on a data-driven methodology. It actively manages those deals through their entire lifespan (typically 36 months), and underwrites every project on a firm commitment basis, so it has real skin in the game.

Active management makes a difference

The active management component is one of the most significant differentiators between iintoo and crowdfunding marketplaces, Roth stresses. “We had a student housing project in Georgia where the developer passed away suddenly. Foreclosure typically follows in a case like that, but given our hands-on model, our team traveled to the site, helped find a new developer, and made sure the bank would continue working with us. In a marketplace model where the platform is hands-off, the investors would simply have lost their money, but that property ended up returning a 20.82% yield to iintoo’s investors when we exited.”

While all investments, including iintoo’s involve risk, iintoo has come up with a unique way to address investors’ concerns about risk, with a program called epiic (Equity Investment Protection Community*). Epiic offers investors two kinds of protection against loss of principal. The first is a social community pool funded by a small percentage of each initial investment. The second is a $150 million insurance policy underwritten by Everest Re Group, one of the largest reinsurance companies in the world.

Focused on deals lasting 18 to 36 months, epiic provides a seamless and easy investment option for  investors looking to make one contribution into a diversified, risk-mitigated real-estate fund. There are risks associated with investing and principal loss is possible. Certain restrictions and limitations apply.

“Initially, I learned of iintoo’s platform through a friend. It seemed like a new way to invest in real estate,” says investor William Raff. “The more I learned about iintoo, and especially its equity protection, the more interested I became. Since then, I’ve invested in a number of geographically diverse residential properties in the U.S., including student housing and multifamily apartments. iintoo’s expertise lies in this area, and it provides an easy-to-use platform that enables individuals to efficiently access these investments.”

Diversification

Financial strategists have long recommended alternative investments such as real estate to increase portfolio diversification and potentially boost returns. Accredited investors ($200K individual/$300K joint annual income or $1M household net worth) can now access this market through iintoo with a minimum investment of $25,000. Average historical annual returns on iintoo’s full-cycle investments have averaged 16.63%* since the company’s launch four years ago.

Becoming an iintoo member is easy. It’s free to join, and there’s no commitment. Simply go to www.iintoo.com and sign up. Within a matter of minutes, you’ll be opening the door on an investment world once available only to the world’s elite.

This is an advertisement for iintoo.com. Securities offered through Dalmore Group LLC, a registered broker-dealer and member of FINRA/SIPC.

The testimonials contained in this article may not be representative of the experience of other customers. The testimonial is no guarantee of future performance or success.

This is not an offer to buy, sell or trade securities.   Investments are not FDIC insured, have no bank guarantee, and may lose value.

*When we refer to “Equity Protection” we are referring to an arrangement between an affiliate of Everest Re Group, Ltd. (“Everest Re”) and iintoo epiic GP LLC, the general partner of each covered issuer (“Covered Issuer”), pursuant to which the latter promises that, even in the event the underlying project is not profitable or records a loss, the investor in the Covered Issuer shall receive a specified amount equal to the original principal investment he/she/it provided (less other amounts already received by such individual investor during the course of the investment).

Equity Protection has significant limitations, including, but not limited to, repayments for losses in the Covered Issuer are only made up to a maximum amount of funds available from the retention account and the policy, repayments are on a first come, first serve basis, and risk is pooled across Covered Issuers subject to the same retention account and policy. Iintoo epiic GP LLC, and not the investors, is party to the policy with Everest Re. As a result, investors have no direct legal rights under the policy. In addition, beyond use of the Equity Protection proceeds from the retention account and the policy, neither iintoo epiic GP LLC nor the Covered Issuer has any obligations to indemnify investors for losses.

For more information, please see “Business of the Company-;Equity Protection” and “Risk Factors-;Risks related to the Equity Protection” in any of our issuers’ private placement memoranda.** The exit annual yield is equal to the ratio between the total profits from the equity investment (before tax) and the total raise (amount invested by iintoo’s equity investors in the project) divided by the investment term.

Source: Real Estate Investing 2.0: Unique New Approach Goes Beyond Crowdfunding

Let’s debunk some common myths about real estate investing, and share what it’s ACTUALLY like, no sugar coating – enjoy! Add me on Snapchat / Instagram: GPStephan Jeremy’s Channel: https://www.youtube.com/channel/UCnMn… Financial Growth Conference: https://financial-education2.teachabl… Join the private Real Estate Facebook Group: https://www.facebook.com/groups/there… The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c First expectation: Real estate investing is passive. The reality is that creating the type of rental property to the point where it’s passive income takes a LOT of work. But the work is, at times, still ongoing. Eventually you’ll have a vacancy. Eventually you’ll need to fix things up again. Nothing will last forever. Sure, you can get a property manager who’ll handle much of this for you – but you will need to do SOME work yourself, even if it’s as small as choosing between finishes or approving bids on work. It won’t be an insane amount of work, but it will be something. So yes, real estate CAN be fairly passive…but it’s not passive if you don’t put in the work UPFRONT. Second Expectation: In order to invest in real estate, you need to do the repairs yourself or be a good handyman. The reality is that I can’t do anything besides change a lightbulb. While I do know some landlords who do the work themselves to save the money, this is absolutely not a requirement – and depending on how much your time is worth, it’s often cheaper just to pay someone else to do it the right way. It’s also worth noting that since all these repairs are a write off, you can write off the costs against your income…but, if you do the work YOURSELF, you cannot deduct the cost of YOUR OWN LABOR. Third Expectation: It takes a lot of money to start. The reality is that it often takes 10%-25% down to begin investing in real estate. This COULD be a lot depending on your definition of “ a lot,” and also on your area. Buying a property in Los Angeles would be significantly more expensive than in Kentucky, for instance. Where one person might be able to buy a property for $20,000 down, someone else might need $200,000. Fourth Expectation is that it’s often like the TV shows. The Reality is that it’s NOTHING like what they portray on TV. Oftentimes those TV shows will be loosely scripted around creating drama and creating a show that’s actually interesting enough to watch all the way through. Every episode needs a goal, a problem that arises, a solution to that problem, and then a resolution at the end. The real life problems that come up just aren’t that exciting or interesting. It’s often boring and mundane. The fifth expectation is that you’ll make a lot of money investing in real estate. The reality is that oftentimes one property won’t make you rich. Most mom and pop landlords won’t make a lot early on, but as they scale up, they can earn a significant amount of money from a lot of smaller sources. This is how many landlords start making money, enough to quit their jobs and invest in real estate full time. It’s growing your portfolio over one or two DECADES and accumulating those properties that might make you only $900 a month….but buy one of those every 18 months, and in 15 years you’re making $9000 per MONTH. That’s how most landlords make their money, and make a LOT of it. But the beginning will be slow and frustrating until you begin adding more and more to your portfolio. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve – https://goo.gl/sT68EC American Express Platinum – https://goo.gl/C9n4e3

Redfin Reports Better-Than-Expected Earnings As Real Estate Tech Startups Seize Momentum

Better-than-expected second-quarter earnings lifted shares of discount real estate brokerage Redfin in after-hours trading Thursday.

Revenue for the quarter was $197.8 million, up 39% from a year ago, while the company reported a net loss of $12.6 million, compared with income of $3.2 million in the second quarter of 2018. Net loss per share was $0.14. All measures were better than analyst estimates.

“The second quarter is a turning point for our company,” CEO Glenn Kelman said in a statement, pointing to expansion of the company’s mortgage business and “instant-offers,” Redfin’s on-demand home-buying service. “The years of work we’ve invested in each of these businesses are now positioning us to be the first to deliver a complete solution at a national scale for people moving from one home to the next.”

Since 2006, the Seattle-based company has expanded to 90 markets, selling more than 170,000 homes worth upwards of $85 billion with a promise of lower transaction costs. Redfin pegs its market share at 0.94%.

But progress on its loftier goal—to make the whole residential real estate process more consumer friendly through tech—has been slow. Most U.S. housing is bought and sold the same way it has been for decades. Thursday’s better-than-expected report comes as a number of real estate companies new and old are announcing new digital-first services they also claim will remove friction.

The startup Opendoor said earlier Thursday that buyers can now use its app to browse, book self-guided tours and submit bids on any home for sale in Dallas-Fort Worth, Phoenix and Raleigh-Durham. Opendoor’s primary business so far is high-tech home-flipping. Homeowners sell their homes to the company online, and then Opendoor spruces up the place and tries to quickly resell it. Zillow believes a similar model will make up the majority of its business within five years.

Compass, a direct Redfin competitor in pairing human agents with homegrown software, on Tuesday announced it had raised a $370 million round of funding at a $6.4 billion valuation. (Redfin’s market cap is about $1.6 billion.) Last week, Realogy—parent company for brokerage brands including Coldwell Banker, Century 21 and Sotheby’s International Realty—announced a partnership with Amazon to connect home buyers with agents.

It is not yet clear whether Redfin will come out ahead when, and if, technology manages to really change the makeup of the residential real estate market. Shares have gained 27% so far this year, although the closing price of $17.72 on Thursday was down from a 2019 peak of $23.45.

For the third quarter, Redfin is forecasting revenue between $223 million and $233 million, which would equal year-over-year growth of between 59% and 66%. Net income is expected in the range of $3.4 million to $6.4 million.

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I am a staff writer covering real estate. Come for the outrageous homes, stay for the insights on what gets built and why. Previously I wrote about the future of money including fintech, Millennials and the economy at large, as well as news from the markets.I graduated from the University of Pennsylvania where I majored in English and minored in art history but mostly worked at the student newspaper – The Daily Pennsylvanian. You can follow me on Twitter @SamSharf and email me at ssharf@forbes.com.

Source: Redfin Reports Better-Than-Expected Earnings As Real Estate Tech Startups Seize Momentum

Asking $45 Million, Billionaire Steve Cohen’s Other Manhattan Condo Is Also For Sale

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In the competition for vertical space, the windows won this round. Artwork will have to be happy with the other condo billionaires Steve and Alexandra Cohen have on the market. (Steve Cohen made his fortune via the hedge fund route with Forbes estimating his net worth at $12.8 billion, landing him at No. 101 on the Forbes‘ Billionaires list.) That West Village condo is asking $33.5 million and, as the photos show, is designed to house their impressive collection with works by Willem de Kooning, Jeff Koons, Jasper Johns, Picasso and Andy Warhol. This Midtown condo, on the other hand, forgoes white wall space in favor of sunlight. This four-bedroom duplex in the One Beacon building is asking $45 million, after a few price reductions down from $115 million back in 2013.

All the residences at One Beacon begin on the 32nd floor, rising up to the 55th floor where this 9,000-square-foot penthouse resides. There are five other condos for sale in the building, ranging from a $26 million three-bed, five-bath to a $7 million two-bed, two-bath. There are also three units for rent, including one of the penthouses asking $60,000 per month.

The unit the Cohens have listed is designed by architect Charles Gwathmey, which you can see in the symmetry that shows up when mullions match the same proportions as the wall of bookshelves and industrial necessities such as stone columns and steel beams become a seamless part of the design.

The second-floor office seen below has one of the best vantage points in the unit.

Office

Office

Douglas Elliman

The double height living room gives you a good idea of how the industrial pieces become part of the design.

Height

Height

Douglas Elliman

The kitchen relies on sleek stainless steel and those countertops are made of honed black absolute granite (it’s hard to see in the photo). The breakfast table uses the same design trick as the dining room where it has a ceiling inset to add some definition to the space.

Kitchen

Kitchen

Douglas Elliman

Here’s a close-up of the dining room with that oval inset in the ceiling which makes the wide open space have slightly more defined presence.

Dining Room

Dining Room

Douglas Elliman

The master bedroom is a large but simple affair, with corner views unobstructed by anything for miles.

Bedroom

Bedroom

Douglas Elliman

Here’s one of the cozier seating areas, with the a clock set in the ceiling.

Sitting area

Sitting area

Douglas Elliman

The unit also comes with a back-up generator system for computers and security system. Building amenities include a fitness center, barre exercise room, massage room, children’s playroom, communal kitchen. The listing agent Richard J. Steinberg with Douglas Elliman has the full information here.

Follow me on Twitter @amydobsonRE

I’m a third generation real estate pro who has lived and breathed this subject ever since I started working in my family’s construction business at a young age.

Source: Asking $45 Million, Billionaire Steve Cohen’s Other Manhattan Condo Is Also For Sale

This Ex-Goldman Trader And His $800 Million Startup Hope You’ll Pay Extra For Real Estate That Aces A ‘Wellness’ Test

Paul Scialla of Delos

Wellness” is one of those extremely broad words that mean everything and nothing. To its adherents, it signifies more than “health,” which is dismissed as merely the absence of illness. Wellness has become a giant industry, or at least a very flexible marketing term. In the grossly inflated view of one industry group, wellness is a $4 trillion global business. Gym memberships and organic produce can be considered part of the trend. But so can incense, DNA tests and sleep aids. So why not “well” buildings?

“If you believe in the wellness trend, why wouldn’t you apply it to the largest asset class there is?” asks Paul Scialla, the 45-year-old former Goldman Sachs partner and founder of Delos, a New York City-based startup. “That seems to be the way to extract the most value from it.”

Scialla is selling a “Well” building certification that real estate developers, employers and hotel and resort operators can display in their lobbies and use in their marketing materials. Modeled after the well-known LEED green building standard, which is administered by a nonprofit, Scialla’s project differs in one key aspect: Delos is very much a for-profit company. Over the last five years, he has raised $237 million at a valuation, most recently, of $800 million.

Backers include Bill Gates’ personal investment office and Jeff Vinik, the former manager of the Fidelity Magellan fund. The New Age celebrity doctor Dee­pak Chopra sits on Delos’ board, as does actor ­Leonardo DiCaprio. Scialla even persuaded Rick Fedrizzi, a creator of LEED, to put off retirement to run the International Well Building Institute, the part of Delos’ business that evaluates buildings.

Interior photos of Delos' New York headquarters.

Scialla hopes that his customers will be as eager to pay for Well as property owners have been to embrace LEED, which has certified 76,800 projects since its inception in 2000. LEED ­charges $13,000 to evaluate a new 100,000-square-foot property. In a recent study, a third of building owners said that going green added more than 10% to their properties’ value.

It’s too soon to say whether a Well certification gives the same boost. But developers are desperate for anything that might allow them to charge a ­premium for cookie-cutter condos, offices and standard-issue hotel rooms. In a city flooded with indistinguishable accommodations, the MGM Grand in Las Vegas bills 20% more for 500 rooms kitted out with Delos-approved “Stay Well” products.

A Delos evaluation for a 100,000-square-foot space costs some $20,000. When the Manhattan construction firm Structure Tone moved from leafy Greenwich Village to congested 34th Street, Robert Leon, who oversees sustainability at the company, thought reluctant staffers would appreciate a Well certification for the new space. Clients also like that the firm is ahead of the wellness-trend curve. “We want to be able to say we did it first,” he says. In 2017, Structure Tone spent $90,000 to get its Well certification and make the office upgrades required by Delos.

Scialla, raised by immigrants from Italy and Holland in suburban Plainfield, New Jersey, got the idea for Delos in 2009 when he was a newly minted partner at Goldman Sachs. A passing interest in sustainability led him to wonder why so much was made of how buildings affected the planet, rather than how they affected people. It didn’t take his undergraduate finance degree from New York University for him to see the potential in the wellness trend.

Paul Scialla of Delos in front of a large display.

The idea seemed so obvious that he spent a few years poking at it on nights and weekends to be certain no one had beaten him to it. He found decades of research linking buildings to health, but no one trying to build a brand around it. “I couldn’t find the ­bogeyman,” he says.

He named his nascent project after the Greek island of Delos, where, according to myth, the god Apollo was born and, he says, its inhabitants lived forever. By 2013, Paul and his twin brother, Peter, also a partner at Goldman, left the bank to focus on Delos full-time. (Peter is president and chief operating officer.) Both brothers invested in the venture (they won’t say how much). That December, Delos scored its first $24 million in outside funding.

Delos’ certification business has ramped up slowly, but 2018 was a big year. It has now handled 1,555 projects totaling 314 million square feet in 48 countries. Forbes estimates that revenue came to $20 million last year. The firm has 170 employees.

The office certification process starts with Delos assigning a concierge, who guides the customer through the more than 200 elements Delos uses to evaluate a space, including the proximity of workstations to windows, easy access to drinking water and the size of the plates in the cafeteria (10 inches or smaller discourages overeating). Then an independent reviewer comes in with a suitcase full of sensors that measure air, water and sound quality.

Scialla says wellness is a “gigantic” market and he’s not concerned about competition from Fitwel, a building wellness certification service launched in 2017 by the Centers for Disease Control & Prevention and the General Services Administration. A nonprofit, the Center for Active Design, operates the service. Fitwel isn’t as comprehensive as Well but costs a lot less. Its customers pay $8,000 for a project of up to one million square feet. Tishman Speyer, whose properties include Rockefeller Center in New York, is using Fit­wel to certify its global portfolio by the end of this year.

Looking ahead, Scialla has his sights on other revenue streams, including smart homes. For a price starting at $3,500, homeowners can buy a Delos app called Darwin that gives them wellness readings that include air and water quality. Simonds, an Australian homebuilder, is installing the system in 1,000 new houses this year, and KB Home is testing it in California. Insurance companies could use Delos’ environmental data to make smarter health-coverage decisions, he says, cutting premiums for customers who live in wellness-outfitted homes. When pressed for details, he admits it’s just a concept. “I’d like people to look back 20 years from now and think, ‘Remember when we didn’t consider the human condition when designing and building these spaces that we’re spending 90% of our lives in?’ ” he says. “How did that get missed?”

I am a staff writer covering real estate. Come for the outrageous homes, stay for the insights on what gets built and why.

Source: This Ex-Goldman Trader And His $800 Million Startup Hope You’ll Pay Extra For Real Estate That Aces A ‘Wellness’ Test

1031 Exchange – Complete Guide to 1031 Exchange Rules in Real Estate

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A 1031 exchange allows an investor to sell their investment property and defer capital gains taxes as well as depreciation recapture taxes that would normally be triggered on their sale, if they agree to use all of their sale proceeds to purchase one or more new properties of equal or greater value. In total, taxes can be up to 40% of your real estate profits. A 1031 exchange applies to any property that isn’t your primary residence and can even apply to primary residences if they have a home office, Airbnb use, or business use. There are several key rules and regulations that you need to know before you open an exchange. Read more….

 

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Real Estate Markets Cooling Across The Country, And It’s Not Just The Winter Effect – Caroline Feeney

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In December 2008, almost a decade ago exactly, Case-Shiller posted a record 18% price drop in home values across the country as the subprime mortgage crisis reached fever pitch. After a slow and painful recession period, economic prosperity pushed the market out of recovery mode and into a full-fledged real estate boom characterized by double-digit price growth, rock-bottom inventory and surging buyer demand over the past few years. It’s been the lowest of lows, followed by a glorified golden age for the country’s trillion-dollar residential real estate business……….

Read more: https://www.forbes.com/sites/carolinefeeney/2018/11/15/real-estate-markets-cooling-across-the-country-and-its-not-just-the-winter-effect/#2bd98b12172b

 

 

 

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How Blockchains Will Transform The Real Estate Industry – Max Coursey

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If your hearing was sensitive enough and you were listening all over the United States, you would likely hear real estate agents, title companies, lenders and inspectors printing hundreds of thousands, if not millions, of papers. These papers are scanned, faxed, emailed, distributed and shredded in ways that feels somewhat reminiscent of the technologies of an old Friends episode. Common practices in the real estate industry are often archaic and wasteful  and they can be beacons for fraud across all sectors……..

Read more: https://www.forbes.com/sites/forbesrealestatecouncil/2018/11/13/how-blockchains-will-transform-the-real-estate-industry/#b51f72e675fe

 

 

 

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A Fifth of China’s Homes Are Empty That’s 50 Million Apartments – Bloomberg

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Chinese President Xi Jinping’s mantra that homes should be for living in is falling on deaf ears, with tens of millions of apartments and houses standing empty across the country. Soon-to-be-published research will show roughly 22 percent of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That adds up to more than 50 million empty homes, he said. The nightmare scenario for policy makers is that owners of unoccupied dwellings rush to sell if cracks start appearing in the property market, causing prices to spiral……….

Read more: https://www.bloomberg.com/news/articles/2018-11-08/a-fifth-of-china-s-homes-are-empty-that-s-50-million-apartments

 

 

 

 

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Should You Pay Off Your Mortgage Early – J.D. Roth

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My friend Amy recently wrote with an interesting dilemma. “Should I pay off my mortgage early?” she wonders. Amy has a high-paying job and has managed to save enough that she could be completely debt-free if she wanted to. And she kind of wants to! But is this the best choice? She’s aware that this is a nice problem to have — but it’s still a bit of a muddle. She’d like some guidance. Just so everyone is on the same page, here’s a quick look at the pros and cons to paying off your mortgage. There are advantages and disadvantages to both choices. Are certain advantages more important than others? You make the call……….

Read more: https://www.getrichslowly.org/pay-off-mortgage/

 

 

 

 

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