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The impact of credit tightening by Fed officials has been unclear in the wake of both higher interest rates and turmoil in the banking system following the collapse of Silicon Valley Bank and Signature Bank in early March. Federal regulators also seized First Republic Bank and sold it to JPMorgan Chase Bank earlier this week.

Bonds rallied immediately after the news, sending yields down, as the market interpreted the Fed’s hints as an indication of a pause in tightening.

“The 2-year and 10-year US Treasury yields are down 2-3 basis points, which could help mortgage rates as the market digests the news and adjusts,” Jack Macdowell, chief investment officer at the Palisades Group, said.

On Wednesday afternoon, mortgage rates for 30-year fixed-rate mortgages were at 6.43%, according to HousingWire’s Mortgage Rates Center.

“If the economy picks up steam and the banking crisis doesn’t worsen, that might force the Fed to re-start rate hikes. However, for now, they seem OK to pause here,” Mohtashami said. 

Danielle Hale, chief economist at Realtor.com, was on the same page with Mohtashami about Wednesday’s rate hike decision, noting that it is unlikely to cause mortgage rates to shift dramatically. 

If economic indicators are lukewarm going forward, it should lead to a more sustained, gradual decline in mortgage rates — as the Fed is less likely to continue rate hikes, Hale noted. 

“However, above-expected hiring, price growth or other economic activity could lead to upticks in the mortgage rate in anticipation that tighter Fed policy will be needed,” Hale said. 

A hike in short-term rates is only indirectly impactful for mortgage rates, as mortgages are priced off of long-term rates. But when the Fed raises interest rates, it becomes more expensive for families to take out loans for home purchases.

The Mortgage Bankers Association (MBA) also expects the Fed to push a pause button on the rate hikes in June, noting that the Fed’s statement was consistent with a plan to pause rates at this level.

“Although recent speeches by Fed officials had indicated an increasing amount of disagreement regarding the next steps for policy, this was another unanimous vote,” Mike Fratantoni, chief economist at the MBA, said. 

The expectation of continued rate hikes has kept Treasury yields higher, even with expectations of an economic slowdown. This, in turn, has kept mortgage rates higher, Shampa Bhattacharya, senior director at Fitch Ratings, noted. 

“The home purchase market is more sensitive to a reduction in mortgage rates at current rate levels, with the refinance option still out of the money for a vast majority of homeowners (…).  Purchase mortgage application data as well as active listings have shown positive weekly growth recently in response to somewhat lower rates, though applications remain down 28-30% year over year,” Bhattacharya said.

Impact on housing and residential lending

It’s unclear what the Fed’s next decision will be, but the MBA is hoping for a rate hike pause. 

“If the central bank pauses its hike in June, potential homebuyers and their mortgage lenders may be breathing a sigh of relief,” Fratantoni said. 

While tighter credit conditions are expected to slow the pace of economic activity, the housing sector is already operating under tight credit, Fratantoni noted.

The MBA doesn’t expect the tight credit headwind to outweigh the benefits from somewhat lower mortgage rates. The housing market is likely pulling the economy out of this slowdown, as it typically does, the MBA said.

Looking ahead, Hale expected the rest of May to be a rocky ride for interest rates, including mortgage rates. 

“The Fed continues to remain vigilant, watching for signs that financial sector stresses have impacted the real economy. Most likely, this factor will remain a wild card for the next few meetings, as data continue to roll in,” Hale said.

If the Fed does raise rates again next month, home buyers will be scared of purchasing for several reasons, Dutch Mendenhall, founder at RAD Diversified REIT, noted.

Because there is still a relative low inventory of houses for sale, higher interest rates with higher home prices mean buyers may not find the house they want in the current price range. 

“Additionally, higher rates create higher debt-to-income ratio calculation, resulting in qualifying for lower mortgage amounts,” Mendenhall said. 

However, a higher interest rate environment can provide more opportunity for cash buyers. 

“Without having to worry about interest rates, cash buyers can be very attractive to sellers, as they know they can go to closing quickly, and as a result, cash buyers can find themselves in a much better position to negotiate a better sale price,” he noted. 

Regardless of whether mortgage rates will trend down or enter into a recession, potential buyers have a window of opportunity, Jerimiah Taylor, vice president of real estate and mortgage services at OJO, said.

“The spring market has been hotter than expected in many markets, and if you add the fuel of lower rates on what’s already happening, expect prices and competition to increase quickly,” Taylor said.

Source: housingwire.com

Apache is functioning normally

Before I dig into this topic, let me just put this out there: Expiration dates are important and you should always consider them so you don’t get food poisoning and end up in the hospital or whatever. Please don’t interpret this post as my arguing that expiration dates are total bull.

That being said, expiration dates are total bull. Just kidding! Well, kind of. I recently came across an alarming study from Harvard, which found that Americans waste 160 billion tons [Editor’s Note: Kristin pointed out that she should have written 160 billion pounds] of food annually. A similar 2012 study from the NRDC calculated that waste in terms of dollars: We throw out about $165 billion worth of food and beverages each year. On average, that’s between $275 and $400 per household.

The Dating Game

The Harvard Food Law and Policy Clinic titled their study “The Dating Game,” and they came to the conclusion that many “sell by” dates don’t really have anything to do with safety. Companies mostly determine those dates based on taste tests.

Emily Broad Leib, who authored the study, told CBS, “The dates are undefined in law and have nothing to do with safety. They are just a manufacturer suggestion of peak quality.”

But of course, food does go bad. Despite the liberal expiration date on that cup of Dannon in the back of your fridge, you probably shouldn’t eat it if it’s been there since the ’90s. Okay, you definitely shouldn’t eat it if it’s been there since the ’90s.

But Leib urges consumers to be aware that when manufacturers determine expiration dates, they’re mostly thinking about protecting their brand rather than public safety. The purpose of the Harvard study was to push for a more reliable labeling system for food.

“Make an Assessment”

Until the system changes, what’s the solution? Are we supposed to simply turn a blind eye to expiration dates and pray against food poisoning?

Well, of course not. Here’s Leib’s suggestion:

“Consumers need to take that extra minute to actually look at their food and smell their food and make an assessment. When we just rely on these dates and throw everything away after the date, we’re leading to really high rates of food waste.”

Sounds like good ol’ common sense, but her study found that 90 percent of households throw out food that’s still perfectly good, thanks to inaccurate expiration dates.

Growing up, we always “made an assessment.” We were poor (I think I may have mentioned that once or twice?), so my mom didn’t just toss out food willy-nilly. She was very discerning; but if it didn’t emanate any strange odors and hadn’t changed color, we usually ate it. When she did have to throw something out — when it was, say, taken over by mold — she would still shake her head and mumble, “What a waste.”

On the other hand, I’d argue that my extended family goes a little overboard. My aunt, for example, once fed us cooked rice that she neglected to tell us had been sitting out for a few days. The aftermath was not pretty.

I use the “sell by” (or, the more charming “enjoy by”) date as an approximation. If the expiration date is really, really old, I’ll toss it, even if the item still looks and smells edible. If you’ve ever had crippling food poisoning that’s left you vomiting next to your boss in the middle of a work meeting, you know it’s just not worth the risk. However, if it’s at least somewhat close to the expiration date, I make an assessment, and, if it still looks and smells edible, I usually go for it. Although, I tend to be stricter when it comes to meat, milk or eggs.

How Long Does Food Really Last?

When it comes to assessing “expired” food, it’s probably better to rely on data rather than instinct. Ever heard of Eatbydate.com? I hadn’t, until I started researching this story. It’s a pretty cool website that seeks to answer the question, “How long does food really last?” It’s pretty extensive, and you can check it out yourself, but here are a few items I found interesting:

When properly stored,

  • Fresh whole mushrooms last 7-10 days.
  • An opened pack of cream cheese lasts 1-2 weeks (stored at or below 40° F)
  • Opened shredded cheese lasts 3-4 weeks (stored at or below 40° F)

The site also gives tips on how to tell if certain foods are spoiled. Their content is based on research from resources including the Department of Agriculture and the FDA.

Earlier this year, Get Rich Slowly staff writer Lisa Aberle wrote an article on food waste in general, and she pointed out some helpful ways that she avoids waste. In addition to the whole expiration date conversation, there are a couple of practical tactics I’d like to add:

Extend the Shelf Life of Your Food

I know how I make the most out of my food’s shelf life, but I’m no expert, so I thought I’d check with one. Jill Houk is a food consultant and cookbook author who was kind enough to offer a few tips:

  • “Don’t wash fruits or vegetables before storing them,” Houk says. “Even small amounts of water can start the molding/decomposition process.”
  • She adds that keeping your refrigerator temperature between 34ºF and 38ºF will help slow the bacteria growth that leads to food spoilage.
  • Most of us know to store our canned goods and jarred food in a cool, dry place. But Houk warns: “Even avoid storing food too closely to your dishwasher, toaster, or coffee maker. If food experiences wild temperature fluctuations, it’s more likely to spoil faster, even if it’s shelf-stable.”

Meal Planning

It’s easy for me, because I only live with one other person, but I try to plan out my meals and groceries for the week. I cook about four or five times a week, and, as we near the end of the week, I take an inventory of what’s left over, and I try to make the most of whatever that is. If I have half an onion or a few potatoes left, I see if I can make a stew or something. Online meal planners like $5 Meal Plan are especially helpful. You type in whatever ingredients you have in your pantry, and they’ll pull up recipes that include those ingredients. I don’t want to sound like a commercial, but ever since I’ve started using their app, I find I throw out very little food.

Anyway, I’d like to know — how closely do you follow your expiration dates, and what do you think of them? Do they contribute to waste, or should we follow them strictly?

Source: getrichslowly.org

Apache is functioning normally

Last month, my boyfriend and I took a weekend trip to Seattle to celebrate our anniversary. We got a great deal on a hotel using a discount app. We’d stayed at this hotel before, and the view was gorgeous. The price was also reasonable and the room was clean. We checked in, unloaded our bags and pulled back the curtains, preparing to take in Seattle’s beautiful skyline, which we’d flown a thousand miles to see.

Lo and behold, the parking lot. A man getting into his car looked up at us, startled.

“Eh,” I said. “We didn’t come here to hang out at the hotel.”

“Yeah, but I want a view,” Brian said, drawing the curtains. “The parking lot? C’mon.”

He vowed to talk to someone at the front desk and see how much it would cost to get a better room. We were surprised when the hotel receptionist said it would be no problem to upgrade us free of charge. There was no hesitation. It was the easiest upgrade I’ve ever gotten. We went up to our new room, opened the curtains and took in a nice nighttime view of the Space Needle.

This experience reminded me of just how effective speaking up can be. I’ve always struggled with speaking up for myself. But the more I see how speaking up can get you discounts, upgrades, necessary help, jobs, etc., the more I’m trying to master it.

Why speaking up was hard for me

Embarrassment

I grew up learning to be very independent and self-sufficient, and it took me a while to understand the cliché: the squeaky wheel gets the grease.

That cliche began to make the most sense when I entered the working world. My outspoken co-workers would get the projects I wanted just because they made sure it was known that they wanted those projects. Luckily, my boss was nurturing. She recognized my meekness and encouraged me to speak up when I wanted something. I realized I was embarrassed to ask for things. I felt like if I had the guts to ask for a project, it meant I was full of myself, and that was embarrassing to me. (Weird, I know. I guess I had an odd cultural upbringing.) When I had to ask for help in school, I always felt it meant I wasn’t smart and couldn’t handle things on my own. As an adult, that embarrassment turned into feeling like I was just being a nuisance.

Lack of confidence

It took me a while to ask for a raise or promotion on my own. I felt like, if I deserved something, it would just come to me. Silly, right? Another example: When I was a financial mess, I got into problems with overdraft fees. It was totally my fault, but the bank definitely preyed on my financial irresponsibility, charging me $35 per transaction, and sneakily posting withdrawals before deposits that were made early that same day. A friend told me I could call and have the fees removed, but I resigned myself to the belief that I deserved to pay them because, y’know, bank fees are all about personal conviction and morals and stuff.

Laziness

It hurts to confess this, but when I was a financial mess, I also stupidly fell for a free credit score scam. The company charged my card an unauthorized $14.99 fee. After researching the scam online, I knew if I called my credit card company and told them the issue, the fee would most likely be removed. But at the time, I told myself, “Eh, it’s just 15 bucks.” Then I asked my lazy self, “If someone paid you $15 to have a five-minute phone call right now, would you do it?” I answered yes, and I picked up the phone.

Speaking up in action

It’s still hard sometimes, but I’ve learned to speak up for myself a lot more these days. And it’s been really effective in saving me money, or even helping me to earn more money. The other day, I randomly called my cell phone provider about lowering my bill. I saw a better, cheaper plan online. The only catch — there was some crazy $150 fee for activating this plan. It would take seven months before I would even start seeing savings. So I called and half-jokingly asked, “I don’t have to pay that, right?”

The customer service rep said, “Sure, we can waive that.”

Well, that was easy! By just asking, I was able to lower my phone bill by $15 a month.

“Just asking” is one of the simplest but most effective money hacks I’ve come across. And the more I see how effective it can be, the less shy I become about speaking up. But, of course, there are a few things to keep in mind for better results:

Be nice

Pretty simple. I think people are more apt to offer help when someone is kind. Sure, customers who raise hell might get what they want, and being too nice can certainly work against you. But I’ve been nasty to customer service reps, and then I’ve been patient and kind to them. I’ve learned that, most of the time, nice usually trumps nasty. Since making it a point to be nicer and more understanding, I’ve found that my customer service calls are quicker and more effective.

Get personal

I’ve found that it usually helps, when asking for something, to remind people that you’re human. When arguing for a raise, I reminded my boss that my financial situation was suffering due to inflation — rent increases and the like. When calling my Internet company about their price hikes, I reminded them that I don’t have the money to pay for such a huge increase. “Times are tough,” I told the rep.

She sighed, “Yeah, I understand.”

It took some work, but I was able to get an even better deal on my Internet because of some special promo or whatever they had going on.

Be persistent

Sometimes, however, it ain’t easy. While I wouldn’t be annoyingly persistent in asking for something like a free room upgrade, I was annoyingly persistent with those aforementioned bank fees (especially when they once were at $300). When I finally decided to call, I asked to talk to a manager, and it took nearly an hour of my time and a lot of headache in arguing my case for waiving the fees, but in the end, “just asking” won.

Of course, there’s a difference between asking for something appropriate and then asking for a handout. And this is kind of what I struggle with. Blatantly asking for a free flight upgrade, for example, seems so embarrassing, yet I still want to try it, because others have said it works. And then I’ve met people who aren’t afraid to “just ask” for damn near everything, to the point that their irreverence borders on cheapskate. When I’m asking for help or for a discount or something, I try to imagine how the other party feels when I’m speaking up — will they feel put out or taken advantage of? If so, then I think twice about asking.

But I’m not quite sure where to draw that line, so what do you think? Speaking up works, but where’s the boundary between being outspoken and just being cheap?

Source: getrichslowly.org

Apache is functioning normally

Inside: Do you have a passion for something, but don’t know what to do with it? This guide will help you find a career that is perfect for you and match your interests and values.

This is something all of us wonder, right?

What should I do for a living?

Am I doing what I should do as a career?

Did I make the right decision with my career?

Or is it time to switch gears and find something that I love to do and make money at the same time?

I have been asking this question so many times, I finally decided to make a list of answers.

This is not just for those who want to know what they should do with their lives; it’s also for anybody looking for some new ideas on how they can fit into a career that will bring them satisfaction and happiness.

Recently, my middle schooler was asked, what do you want to do beyond high school? And he looked at me shell shocked.

Remarkably, this question of what should I do for a living is a doozy to answer. So, don’t feel alone if you cannot answer it… yet.

How do I find out what I should do for a living?

The first step to finding out what you should do for a living is to identify your skills and interests.

  • What are you good at?
  • What do you enjoy doing?

Once you have a better idea of your strengths and passions, you can start researching your options.

The bottom line…you must be happy to spend the next decades doing what you picked.

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

Tips for finding a career you love

When you’re looking for work, it’s important to remember that there are many different ways of making a living. You can be an artist or designer in your own home studio, or run your own business. The key is to figure out what your interests are, and then find a way to use those skills in the work you love doing.

The goal of this article is not just to help you find a job that pays the bills, but to help you find work that is satisfying, meaningful, and fun.

Here are some tips to keep in mind as you go through the process of figuring out what you want to do with your life.

#1 – Focus on You

Don’t listen to people who tell you that you should do one thing. If your parents want to see you be a doctor, or if your friends think it’s important for you to have a “real” job, you might be tempted to listen to them.

Don’t let anyone else tell you what your passion is, or how you should spend your life.

Determine what’s important for YOU!

As you go through the process of figuring out what to do with your life, keep in mind that there are many different ways to live a happy and fulfilling life. You don’t have to be a doctor to help other people. You don’t have to work in an office all day, every day.

Do what you love and the money will follow.

If you do something that you love, you will never have to work a day in your life. If you do what you love, and are good at it, people will pay for that service or product.

Do what makes YOU happy. If you’re not happy, no one else will be either.

Don’t let anyone tell you what to do with your life. You should never have to justify your decisions or choices to anyone. You are the only one who has to live with your decisions and choices.

Do what you want, not what other people want for you or think that you should do. Period.

#2 – Identify What Interests You & Makes You Tick

There are a variety of ways you can go about finding out what interests you. You can read books and articles on different topics, talk to people with various careers, or take online quizzes and assessments – like this what should I do for a living quiz.

The first step to finding the right career for you is to identify what interests you intellectually.

  • What fascinates you?
  • What makes you feel like you are not working?
  • How do you want to spend your free time?

Once you know what fascinates you, the next step is to figure out how you can turn this into a career. Then, pursue your career interests relentlessly so you can reach your full potential.

#3 – Uncover your Strengths

Identifying your strengths is the key to finding opportunities that will be a good fit for you and enable you to reach your full potential.

Here are some things to take note of:

  1. Pay attention to what you enjoy doing.
  2. Notice when you feel most energized and engaged.
  3. Consider what you do well naturally.
  4. Reflect on feedback you’ve received from others.
  5. Ask yourself how you can use your strengths more often in your current role or situation.

Once you know what they are, make sure to pursue opportunities that are based on them. This will help you stay focused and motivated in your work and life.

#4 – Match Your Values With Your Interests

Your values are the things that are most important to you in life. They guide your decisions and actions. They direct you to live a life that is meaningful to you.

There are many ways to identify your values. One way is to think about what is most important to you in different areas of your life, such as your relationships, work, leisure activities, and so on. Another way is to think about what you would like people to say about you when you are no longer here. What do you want them to remember about you?

Once you have identified your values, it can be helpful to write them down or share them with someone who will support and encourage you in living according to them.

When you link your values and interests together, it creates a powerful combination that can help you to live a more fulfilling and meaningful life.

When you know what is important to you (values) and what makes you happy and excited (interests), it becomes much easier to make decisions about how to spend your time and energy.

For example, let’s say one of your values is “family” and one of your interests is “cooking”. You could combine these by cooking meals for your family members or friends. Not only would this be enjoyable for you (because it aligns with your interest in cooking), but it would also be meaningful because it would be an act of love and care for those closest to you (which aligns with the value of family).

#5 – Consider your Lifestyle

Are you okay living below your means? Or do you prefer to flash your cash?

If you tend to spend money frivolously or struggle with saving money, then you need to be a high-worth earner. If you are okay living stingy, then a modest salary will probably work for you.

Keep in mind your lifestyle and what would be the best fit for you.

Consider if the hours are flexible, if you’d have time for hobbies and other interests, and how the commute looks. Sometimes rethinking your opportunities can give you a better perspective on what’s truly important to you.

Other Questions to Ponder:

  • Do you want a job that will consume most of your time?
  • Do you want a job where you can have a good work-life balance?
  • Are you okay with being tied to one location or have the flexibility to move around?
  • Are you willing to travel for work? If so, how often and how far?
  • What are your salary expectations? Are you looking for health benefits, paid vacation, or other perks?

Ultimately, there are many factors going into your decision. When considering a new potential career opportunity, it’s important to think about more than just the paper qualifications and the salary.

#6 – Spend Time Doing your Research

The best way to find a career you love is to first figure out what it is that you’re passionate about. What are the things that make you excited to get out of bed in the morning? Once you know what your passions are, research careers that align with those interests.

This just doesn’t happen overnight.

In fact, I recently went back to something of interest to me years ago because it would provide the time freedom I desired.

Spend time doing your research and following all the steps we cover in this post.

#7 – Find a career that matches your skills and interests

It can be difficult to identify what you want to do with your life, especially if you’re feeling lost or uncertain.

However, once you’ve identified what areas of interest might suit your skillset, try to link these interests with some type of career options.

Consider how your interests would fit into potential careers before choosing one.

It’s important to consider how your unique passions would fit into certain occupations or fields of work before choosing one. This will help you find a career that is satisfying and fulfilling. Consider the skills and interests you have and search for job openings that match them.

Start by researching the field you’re interested in.

# 8 – Talk to people in the field

There are a few ways to find people to talk to about your career interests. You can start by talking to friends and family members who might know someone in the field you’re interested in. You can also look for professional organizations related to your field of interest, or search for networking events in your area.

When you’re talking to someone about their career, it’s important to ask questions that will help you learn more about the field and whether it’s a good fit for you. Some questions you might want to ask include:

  • What does a typical day look like?
  • What is the most challenging part of the job?
  • What are the biggest rewards of the job?

These people will have better insights than what you can find searching the internet.

#9 – Get experience in the field

Oh, I cannot tell you how important this step is!

You have heard a similar story… my son dreamed of being an engineer and we planned to send him to engineering school. After his internship, the thought of being an engineer sucked the life out of him. Glad we learned this lesson before we spend money on his college education.

That is why I believe schools like this are so important to get real-life experience doing what you think you want to do for a living.

Consider internships or volunteer work to get your foot in the door.

Gaining experience can help you learn more about a particular field or company, and whether or not it’s the right fit for you.

#10 – Be open to change

Here are some things to keep in mind with change.

1. Change can lead to new opportunities: When you’re open to change, you’re also open to new opportunities. Embracing change can help you find a new job, start a business, or even move to a new city.

2. Change can help you grow: Personal growth is important for a fulfilling life. Change can challenge you and push you out of your comfort zone, leading to personal growth.

3. Change can be exciting: If you’re bored with your current situation, change can be exciting. It’s a chance to start fresh and experience something new.

4. Change can be positive: Even if it’s difficult, change can ultimately be positive. It can lead to improved relationships, increased happiness, and a better life overall.”

15 Most Popular Working for a Living Jobs

Many people want to know what they should do for a living.

For some, it’s not as easy as just “doing what you love.” There are definitely jobs out there that allow you to do what you love and make a living.

But first, we need to talk about the types of work available.

All salary estimates from Salary.com.

Registered Nurses

Registered nurses are in high demand and make a good living. They work with patients to assess their health, provide treatments, and help them recover.

  • Average Pay: $65k-70k per year
  • Education Needed: You need to have a nursing degree from an accredited school. You will also need to pass the National Council Licensure Examination for Registered Nurses (NCLEX-RN)

Police Officers

Police officers are responsible for upholding the law and maintaining public safety. A successful career in law enforcement requires strong communication skills and the ability to stay calm under pressure.

  • Average Pay: $54k-72k per year
  • Education Needed: Requires a college degree

Security Officer

More people are looking for security officer jobs as the world becomes increasingly dangerous. Security officers are in high demand and are usually the first responders in an emergency situation. It’s a challenging and rewarding career that can make a difference in people’s lives.

  • Average Pay: $32k-53k per year
  • Education Needed: Depends on their background and previous experience.

Real Estate Agents

If you’re looking for a job that’s in high demand, consider becoming a real estate agent. With the right education and licensing, you could be helping people buy and sell homes in no time. You must be comfortable marketing yourself and closing sales.

  • Average Pay: $38k-140k per year
  • Education Needed: Real estate agents need to be licensed in order to work. The real estate agent licensure test has a written and practical exam that must both be passed. In order to pass, you will need to know about contracts, financing, legal issues, and more.

Nursing Assistant

One of the most popular jobs in America is nursing assistant. It requires little training and pays relatively well. The work can be demanding, but it is also rewarding, and many nursing assistants feel a sense of satisfaction from their work.

  • Average Pay: $29k-41k per year
  • Education Needed: The Nursing Assistant job requires a high school diploma or equivalent, on-the-job training, and certification.

Delivery Driver

One of the most popular jobs in America is being a delivery driver. There are many positions for delivery drivers with different companies. Popular companies to work for include UPS, FedEx, and Amazon.

  • Average Pay: $39k-54k per year
  • Education Needed: Minimal. To become a delivery driver, you need to have a valid driver’s license and be able to lift heavy objects.

Firefighter

The most popular jobs in the United States vary from year to year, but there are always a few constants. Among these are firefighters, who protect lives and property from fires and other emergencies. They undergo rigorous training and must be physically fit to do the job.

  • Average Pay: $54k-94k per year
  • Education Needed: To become a firefighter, you need to have completed high school and be at least 18 years old. You will also need to pass a physical test and complete a training program.

Customer Service Representative

A customer service representative is the front line of a company and often the first interaction a customer has with the brand. The customer service representative’s job is to handle customer complaints, provide product information, and handle other inquiries. In order to be a successful customer service representative, one must have excellent communication skills and be able to stay calm under pressure.

  • Average Pay: $28k-44k per year
  • Education Needed: Minimal. Most require on-the-job training.

Dental Assistants

Dental Assistants are needed in every dental office. They help the dentist chair-side and perform a variety of tasks such as: take X-rays, prepare patients for treatment, sterilize instruments, and more. The Bureau of Labor Statistics projects that the number of jobs for Dental Assistants will grow by 18% from 2016 to 2026.

  • Average Pay: $32k-50k per year
  • Education Needed: To become a dental assistant, you will need to complete an accredited program and pass certification exams.

Nanny

One of the most popular jobs, and one that is likely to continue being in high demand, is nannying. To become a nanny, it is important to have experience with children and to be comfortable caring for them.

  • Average Pay: $37k-51k per year
  • Education Needed: You should also be CPR certified and have a clean background check.

Medical Assistants

A medical assistant is responsible for a variety of tasks in a doctor’s office, such as handling insurance claims, scheduling appointments, and helping the doctor with examinations.

  • Average Pay: $33k-44k per year
  • Education Needed: The job requires certification from an accredited program and on-the-job training.

Home Health Aides

Being a home health aide can be a rewarding career. Home health aides assist people who are unable to care for themselves in their own homes. They may provide basic needs such as bathing and dressing, or they may provide more specialized help, such as caring for someone who has Alzheimer’s disease.

  • Average Pay: $23k-33k per year
  • Education Needed: In order to be a home health aide, you need to have a high school diploma or equivalent, be at least 18 years old and have a driver’s license.

Personal Assistants

Being a personal assistant is a profession that helps people with various tasks. These tasks can include things like preparing meals, cleaning, and running errands. There are many different types of personal assistants, but all of them must have good communication skills and be able to multi-task.

  • Average Pay: $50k-83k per year
  • Education Needed: None

Graphic Designer

A graphic designer creates visual concepts, using computer software or by hand, to communicate ideas that inspire, inform, and captivate consumers. They develop the overall layout and production design for advertisements, brochures, magazines, and corporate reports.

  • Average Pay: $39k-65k per year
  • Education Needed: Many hold a bachelor’s degree in graphic design or related fine arts field.

Marketing Manager

A marketing manager is responsible for planning and executing marketing campaigns that promote a company’s products or services. They must have a strong understanding of marketing principles and be able to develop creative strategies that will engage consumers

  • Average Pay: $47k-94k per year
  • Education Needed: Usually need a least a bachelor’s degree, but the experience is more important.

High Paying Career Opportunities that Pay Over $100k a Year

There are many popular career choices that people will argue about. For example, which is the best job? This section covers jobs that pay over $100000 a year.

These jobs typically have six-figure salaries and require years of schooling and training.

Software Engineer

A software engineer is someone who designs, creates, tests, and maintains the software that makes computers work. They design, develop, test, and maintain the software that makes our lives easier. As technology advances, the job of a software engineer becomes more and more important. Writes code, tests, and debugs programs and perform a variety of complicated tasks.

There is a high demand for software engineers in the airline industry. Pilots need software engineers to design, develop, and maintain the software that controls the aircraft. They also need software engineers to help with the maintenance and troubleshooting of the software.

  • Average Pay: $65k-130k per year
  • Education Needed: Requires a college degree. Many have master’s degrees as well. To become a software engineer, one must have a strong foundation in mathematics and computer science.

Database Administrator

A database administrator is responsible for designing, implementing, maintaining databases, and troubleshooting databases while ensuring their availability 24/7/365. They work with clients to understand their needs and create databases that meet those needs. Database administrators need strong technical skills, as well as good communication and problem-solving skills.

  • Average Pay: $97k-150k per year
  • Education Needed: May require a bachelor’s degree in area of specialty or require certification.

Investment Banker:

A career as an investment banker can be quite fulfilling, as you will be responsible for helping companies raise money by issuing and selling securities. You will need to have a good working knowledge of financial markets, as well as excellent communication and organizational skills. As well as provides analysis of opportunities and potential investments, assists clients with the formulation of investment proposals, and provides guidance on the structuring and negotiation of transactions.

  • Average Pay: $56k-110k per year
  • Education Needed: College degree is typical and may require an advanced degree.

Air Traffic Controller

Air Traffic Controllers work in airports to ensure safe and efficient air travel. They monitor aircraft and make sure they follow all the necessary safety procedures. They also direct the movement of flights and keep an eye on traffic congestion. An air traffic controller is key for the safety of the pilots and passengers.

  • Average Pay: $54k-120k per year
  • Education Needed: Requires certification from the Federal Aviation Administration (FAA).

Petroleum Engineer:

There is an increasing demand for Petroleum Engineers. They are responsible for the exploration and production of oil and gas and work in a variety of industries, including energy, mining, and transportation. They develop plans to extract oil and gas from deposits below the earth’s surface and new ways to extract oil and gas from old wells.

  • Average Pay: $82k-120k per year
  • Education Needed: Requires a bachelor’s degree in engineering. May specialize in reservoir engineering, drilling engineering, or production engineering.

Anesthesiologists

Anesthesiologists are responsible for the care of patients during and after surgery. They monitor patients to make sure they are safe, help them breathe, and make sure they are comfortable.

  • Average Pay: $310k-520k per year (most anesthesiology assistants make well over $100k)
  • Education Needed: Requires a bachelor’s degree. Then, medical schools are offering anesthesiology education.

Airline Pilots

Being an airplane pilot is a very demanding job. Pilots need to be able to stay focused for long periods of time while flying. They also need to be able to make quick decisions while flying. Pilots also need to be able to multitask while flying. With travel demand constantly growing, there will be a growing need for pilots.

The airline pilot profession is a very demanding one that requires a great deal of education and training. It takes many years of dedicated study to become a qualified airline pilot.

  • Average Pay: $125k-163k per year
  • Education Needed: In order to become a certified pilot, pilots must first complete an accredited undergraduate program. After that, they must complete a professional pilot training program that can last anywhere from 1 to 4 years. Finally, they must pass a certification.

Psychiatrists

There are many different types of psychiatrists and their job duties vary. Psychiatrists are typically employed as full-time employees in hospitals, clinics, or private practices. A psychiatrist’s job duties may include diagnosing mental disorders and providing treatment.

  • Average Pay: $190k-300k per year
  • Education Needed: Usually required to have a graduate degree in psychiatry and pass a psychiatric board examination.

Orthodontists

Orthodontists are a type of doctor who specializes in the treatment of teeth and jaws. They use orthodontic appliances (braces and retainer devices) and other treatments to correct problems with teeth and jaws. Orthodontists typically work in private clinics and hospitals.

  • Average Pay: $100k-210k per year
  • Education Needed: Required to have a four-year undergraduate degree in dental hygiene, dental medicine, or dental technology. After completing an orthodontic residency, they must pass the American Board of Orthodontics (ABO) license examination.

Day Trader

A day trader is someone who makes a living by trading stocks, commodities, or currencies. They do this by buying and selling stocks, commodities, or currencies at the right time, and making a profit. This means that they are constantly on the lookout for opportunities to make money. A day trader typically works from home and may use a computer, telephone, or other electronic devices to trade.

  • Average Pay: $65k-120k per year
  • Education Needed: Required None required. However, many have a background in finance or economics.

Hedge Fund Manager

A hedge fund manager is a person who manages hedge funds. Hedge funds are investment pools that are used to protect investors from losses. Hedge fund managers make money by investing money in different types of securities.

Being a hedge fund manager is a very demanding job. It requires a lot of skill, knowledge, and experience. A hedge fun manager must be able to analyze financial data and make decisions quickly. He or she must also be able to communicate with clients and other employees of the hedge fund.

  • Average Pay: $87k-131k per year
  • Education Needed: Hedge fund managers must have a strong educational background. Studying finance or economics is usually necessary.

Web Developer:

A web developer is responsible for creating and maintaining websites. They work with clients to understand their needs and create a website that meets those needs. Web developers need strong technical skills, as well as good communication and problem-solving skills.

  • Average Pay: $97k-140k per year
  • Education Needed: College degree required. Must have certifications as well.

Network Engineer

A network engineer is responsible for designing, implementing, and maintaining networks. They work with clients to understand their needs and create networks that meet those needs. Network engineers need strong technical skills, as well as good communication and problem-solving skills

  • Average Pay: $73k-120k per year
  • Education Needed: College degree required. Must have certifications as well.

Trade Jobs that Pay A lot More than Minimum Wage

Trade jobs often come with good pay. This is because they require specialized skills and training. Some of these jobs include welders, plumbers, and electricians. Many trade jobs also come with good benefits packages. This includes things like health insurance and retirement plans. Some even offer the choice to join a union.

For example, welders and power plant operators can make an average of $23 an hour. Plumbers and electricians can make an average of $30 an hour.

  • Power Plant Operator
  • Aircraft Technician
  • Welders
  • Plumber
  • Construction Manager
  • Electricians
  • Real Estate Appraiser
  • HVAC Technician
  • Elevator Mechanic
  • Radiation Therapists
  • Boilermakers

Most Needed Job Opportunities

There are a number of jobs that are on-demand and in high demand right now. These jobs may have different requirements or be in higher demand in certain areas, but they all offer the potential to make a good living doing something you love.

There are many trade jobs that are in high demand right now. This means that there are more job openings than there are people to fill them.

This list of the top five jobs in demand right now was formed with the help of Best Colleges.

Nurse Practitioner

A Nurse Practitioner is a type of doctor who helps patients with a wide range of health problems. They work in a team with other doctors and nurses to care for patients.

Nurse Practitioners are trained to diagnose and treat a wide range of health problems, which can include everything from common colds to more serious diseases.

  • Average Pay: $100k-140k per year
  • Education Needed: Medical training is beyond what a registered nurse needs. A Master’s in nursing is required as well as state licensure.

Genetic Counselor

A genetic counselor is a healthcare professional who helps individuals and families understand and adapt to the medical, psychological, and social implications of genetic disorders. They work with patients to provide risk assessment, education, and support for inherited conditions.

Genetic counselors are poised for rapid growth and long-lasting job security due to advancements in genomics and genetic testing.

  • Average Pay: $67k-99k per year
  • Education Needed: Master’s degree in genetics and board certification.

Occupational Therapy Assistant

An occupational therapy assistant (OTA) is a healthcare professional who helps people regain and improve the skills they need to live and work independently. They provide rehabilitative services to patients who have sustained an injury, have a disability, or are experiencing physical and/or cognitive changes.

This may include helping individuals improve their mobility, balance, and coordination through exercise programs; improving the social skills of children with developmental challenges; working with people who have mental health conditions to help them participate in daily activities; or providing support to elderly patients who want to remain independent.

  • Average Pay: $52k-76k per year
  • Education Needed: Associate’s degree and field experience.

Physical Therapist Aides

Physical therapists aides help patients who have physical problems such as bed sores, fractures, and paralysis. They work with the physical therapist to help the patient move and perform activities of daily living. Typically duties include helping patients with exercises, massages, and other treatments.

  • Average Pay: $30k-38k per year
  • Education Needed: Physical therapist aides must have a high school diploma or GED and pass a criminal background check.

Information Security Analyst

The information security analyst job market is projected to grow by 33% over the next three years, making it one of the fastest-growing job markets. Information security analysts are vital to the protection of data and are responsible for the protection of computer systems and networks from cyberattacks and data breaches. They work to protect an organization’s most valuable assets- its data.

  • Average Pay: $70k-103k per year
  • Education Needed: Most have a Bachelor’s degree in software engineering or computer science. Also, many have certifications.

Thinking to Follow Your Passion – Cool Jobs to Do

There are a variety of jobs that you may not have considered that can be a great fit for you.

If you’re looking for a career change or just want to try something new, here are a few jobs you may want to consider. These jobs offer great opportunities and allow you to do what you love every day.

Video Game Programmer or Designer

If you love playing video games and have some creativity, you may want to consider becoming a videogame designer. This job allows you to use your imagination and creativity to create new and innovative gaming experiences for players all over the world.

  • Average Pay: $53k-185k per year
  • Education Needed: A college degree in computer programming is preferred. However, you can program get a certification and start working sooner.

Virtual Assistants (VA)

Being a virtual assistant can be a great way to make some extra money. It can be a lot of work, but with the right skills and equipment, it can be a lot of fun. Virtual assistants work with people all over the world, so there is always something new to learn. A VA has very flexible hours and can set its own schedule.

  • Average Pay: $39k-52k per year (depending on how much you hustle). Very common to make more.
  • Education Needed: None. But, this virtual assistant training is highly recommended.

Video Producer

There are a variety of video production jobs that are in high demand. If you have the skills and are passionate about video, there are plenty of opportunities out there. You could work as a video producer for a news organization, create video content for a website, or work for a company that produces video content for marketing purposes.

  • Average Pay: $47k-100k per year
  • Education Needed: Most have a college degree in design and video production. But, experience is preferred.

Tour Guide

If you are good at giving information tours, you may want to consider becoming a tour guide. Tour guides give visitors an overview of a particular place or attraction. They must be knowledgeable about the history and culture of the area they are touring, and be able to answer visitor questions.

  • Average Pay: $22k-44k per year
  • Education Needed: None.

Fashion Stylist

Detail-oriented people who have a passion for fashion and design can make a great living as a stylist. Stylists are in high demand, especially in the fashion industry. They typically work with clients to help them choose outfits or styles that will suit them, as well as style photo shoots and provide consultation on current trends.

  • Average Pay: $47k-64k per year
  • Education Needed: This is a job where you get popular by your experience and referrals.

Translators

Being a translator can be a very rewarding and challenging career. The most popular jobs for translators are in the legal, medical, business, and technical fields.

Translating is a very versatile job that can be done in many settings. Learning about the different types of translation and which language pairs are the most popular can help you get a better understanding of the field.

  • Average Pay: $43k-72k per year
  • Education Needed: Typically hold a bachelor’s degree. Must be proficient in at least two languages.

Social Media Manager

If you are able to communicate well, have strong writing and communication skills, and have some marketing experience, you may want to consider becoming a social media manager. A social media manager is responsible for developing and executing a social media strategy for their employer or client.

A social media manager is responsible for creating and managing a company’s social media presence. This includes creating content, monitoring activity, and engaging with followers.

  • Average Pay: $49k-75k per year
  • Education Needed: A college degree in marketing is preferred.

Event Planner

Event planners are in charge of organizing and managing events. They come up with ideas for events, coordinate with various departments to make them a reality, and keep things running smoothly. Event planners can work for businesses of all sizes, from small businesses to multinationals. There are many different types of event planners, so if you’re interested in a career in events, you should explore this avenue.

  • Average Pay: $47k-70k per year
  • Education Needed: Many have a college degree, but that is not mandatory. Strong organizational skills, attention to detail, and ability to work under pressure. Experience is best.

Florist

There are many cool jobs that you can consider if you are interested in the floral industry. A florist can work in a variety of settings, such as a grocery store, a restaurant, or a ballroom. A florist can also work as a freelance artist, creating floral arrangements for special events. This is a creative outlet for many and comes with flexible hours. However, work can be seasonal and require working on weekends and holidays.

  • Average Pay: $35k-76k per year
  • Education Needed: Nothing special. Just have an eye for creativity and a love of flowers.

Work Opportunities to Make Real Money

How do you want to make money? There are many ways. You could choose a career in medicine, law enforcement, or any other occupation that ultimately benefits society and helps people thrive.

Many people believe a business degree is worth it, but may not be the best choice for you.

Here are real jobs to make real money at work.

Teacher

One of the most popular jobs in America is teaching. Teachers are needed in every state, and the profession offers great stability and benefits. We need our teachers to teach the next generation.

  • Average Pay: $39k-80k per year
  • Education Needed: In order to become a teacher, you need to have at least a bachelor’s degree and be certified in your state. Many pursue a master’s degree in order to receive higher pay.

Veterinarian / Veterinary Tech

There are a lot of different jobs in the veterinary field, and if you love animals, chances are you would enjoy working with them. Veterinarians work with all types of animals, from pets to livestock. Veterinary technicians work with animals in veterinary hospitals, performing tasks such as recordkeeping and taking care of furry patients.

  • Average Pay: $60k-150k per year / $25k-55k per year
  • Education Needed: Becoming a veterinarian is much like going to college to become a doctor requiring specialty degrees. However, a vet tech only needs a high school diploma.

Construction Worker

Being a construction worker can be a challenging, but rewarding experience. It can be a great way to meet new people and build some amazing structures. The job requires a lot of physical labor, but it can also be very rewarding to see a project come to life. If you are interested in becoming a construction worker, be sure to research the profession and prepare yourself for the challenges that will come with the job.

  • Average Pay: $26k-47k per year
  • Education Needed: Starting out no experience is needed. To become a project manager, you will need a college degree.

Marketing Assistant

A marketing assistant helps with a variety of tasks in marketing. They may be responsible for monitoring and managing budgets, creating and distributing marketing materials, or working with customers to improve their experience with a company. If you have a strong interest in marketing and are comfortable working in a collaborative environment, a marketing assistant role may be a good fit for you.

  • Average Pay: $34k-57k per year
  • Education Needed: A college degree in marketing is preferred.

Truck Driver

One of the most popular jobs in America is a truck driver and a heavily needed position. The Bureau of Labor Statistics reports that there are 1,187,500 truck drivers employed in the United States.

  • Average Pay: $45k-58k per year
  • Education Needed: A high school diploma or equivalent is typically required to become a truck driver.

Administrative Assistant or Office Manager

The Administrative Assistant position is one of the most popular jobs in America. The role generally entails providing support to managers and employees, handling office operations, and managing schedules. In order to be successful in this career, you’ll need strong organizational skills and proficiency in Microsoft Office.

  • Average Pay: $35k-55k per year
  • Education Needed: None

What Should I Do for a Living FAQs

  • You enjoy going to work,
  • Your work makes you feel fulfilled.
  • Your skills are utilized and challenged.
  • You feel like you are making a difference.

This is why it is important to spend time making a decision on what to do for a living.

  • You’re not passionate about your work
  • You’re always stressed out
  • You dread going to work
  • You’re not challenged by your work
  • You don’t feel like you’re making a difference

It is better to make a decision to move out of the wrong career to maintain your happiness in life.

Research other careers that might be a better fit for you and consider making a switch.

Your interests can give you clues about the types of careers that might suit you. Your skills can help point you towards careers that will make use of your strengths.

Passions:

  • What are you passionate about?
  • What topics can you talk about for hours without getting bored?

Skills:

  • What natural talents do you have?
  • Are you good at working with your hands, or do you prefer working with your mind?
  • Do people often come to you for advice or help with problems?

Values:

  • What is important to you in a job?
  • Do you want to feel like your work makes a difference in the world, or do you just want a steady paycheck?
  • Do you prefer working independently or as part of a team?

Personality:

  • Are you an extrovert or an introvert?
  • Do people describe you as spontaneous or cautious?

Work environment:

  • Do you prefer working indoors or outdoors?
  • In an office or from home?
  • With animals or with people?

When it comes to choosing a career, it’s important to consider what kind of personality traits will make someone successful in their chosen field. Also, knowing your values can help narrow down your career options.

How can you create a career you love?

Your career is one of the most important aspects of your life. It’s what you spend the majority of your time doing, and it can have a huge impact on your overall happiness and satisfaction with life. That’s why it’s so important to find a career that you love.

When you have a career that you’re passionate about, it doesn’t feel like work. You’re more likely to be engaged and motivated, and you’ll be more likely to stick with it even when things get tough. Plus, pursuing a career that you love can lead to all sorts of other benefits, like increased success and earning potential.

There is no reason why you can’t create a career that brings joy into your life every single day!

How can you make a living doing what you love?

What are you good at? What do you enjoy doing? Which things are you naturally drawn to?

Those are the areas you need to focus on.

Once you have a plan, it’s time to start making money. There are a number of ways to do this, but the most important thing is to get started and keep moving forward.

Remember, it takes time and effort to build a successful business or find an enjoyable career.

What Should I Do Now?

There’s no single answer to the question “what should I do for a living?”

Everyone has a different idea of what they would like to pursue.

There is no right or wrong answer when answering this question, but if you are struggling with the decision-making process, take note of these most popular jobs and the skills you need to get them.

But by exploring your interests and values, you can find a career that is a perfect match for you.

No matter what your interests or skills may be, there is sure to be a cool job out there that is perfect for you.

You could also become an environmental scientist, web developer, or event planner. There are many exciting and rewarding careers out there – you just need to find the one that’s right for you.

Then, at the next social event, you can be proud to answer “what do you do for a living?”

So what are you waiting for? Start your search today!

More Ideas for You:

Know someone else that needs this, too? Then, please share!!

Source: moneybliss.org

Apache is functioning normally

Shopping for life insurance is not the way that you want to spend an evening. I know that nobody wants to sit around and think about his or her death, but you can’t avoid it. Not planning for your passing is one of the worst things that you can do for your loved ones.

When you start looking for the perfect life insurance plan, you can easily feel like you’re drowning in all of the options. There are hundreds of companies that you can choose from and several different types of life insurance policies.

Every insurance company is different. You’ll get different rates, benefits, and policy options depending on the company, and you could spend weeks trying to find the best policy. Luckily, I’ve done some of the dirty work for you. I’ve reviewed dozens of companies and outlined all of the advantages and disadvantages of the companies and the plans that they offer.

This post is going to look at Conseco.com and help you decide if they are the best fit for you and your life insurance needs.

The History of Conseco.com Life Insurance Company

CNO Financial Group was initially incorporated in 1979, and the company started its operations just a few years later in 1982. In 1985, the company went public and changed its name to Conseco, and then, in 2010, the company again changed its name to CNO Financial Group, Inc.

Since its initial inception, Conseco / CNO has grown and expanded considerably, and the company has several insurance and financial related subsidiaries that develop, market, and administer health insurance, life insurance, annuities, and other insurance products. These subsidiaries include the following:

  • Bankers Life and Casualty Company
  • Colonial Penn Life Insurance Company
  • Washington National Insurance Company

Today the company serves more than 4 million customers, who are primarily considered to be in “middle income working America.” The headquarters of CNO / Conseco is in Carmel, Indiana.

CNO Financial is ranked as one of the ten largest public companies in the state of Indiana. It currently possesses a market capitalization of approximately $3.5 billion. As of year-end 2016, CNO had roughly $4 billion in revenue and $263 million in operating income.

Over the past four years, CNO has had a total shareholder return of more than 115% – which makes it incredibly strong financially. Given its strong capital position, CNO Financial can withstand both up and down markets.

Conseco / CNO Financial, as well as its subsidiary companies, have earned numerous awards and accolades over the years, such as:

  • Ranking second in the 2016 Healthiest 100 Workplaces in America due to its vision, leadership, and comprehensive wellness policies
  • Received Well-Being Top Honors for its ongoing commitment to promoting a healthy work environment and encouraging its workers to live more healthy lives
  • Received the highest level of recognition by the American Heart Association for being a Fit-Friendly Company
  • Bankers Life named as one of the U.S. top 50 performing life-health insurance companies in the 2013 Ward’s 50 – an honor that is typically bestowed to only 50 of the 800 life-health insurers that are analyzed.
  • Colonial Penn won the Pega 2012 Customer Experience Award

Insurer Ratings and Better Business Bureau Grade

Because of its strong and stable financial foundation, Conseco / CNO Financial and its subsidiaries have earned very high ratings from the insurer rating agencies. These include the following:

Subsidiary Claims-Paying / Financial Strength A.M. Best Standard & Poor’s Fitch Moody’s
Bankers Conseco Life Insurance Company A- (Stable) BBB+ (Stable) BBB+ (Stable) Baa1 (Stable)
Bankers Life and Casualty Company A- (Stable) BBB+ (Stable) BBB+ (Stable) Baa1 (Stable)
Colonial Penn Life Insurance Company A- (Stable) BBB+ (Stable) BBB+ (Stable) Baa1 (Stable)
Washington National Insurance Company A- (Stable) BBB+ (Stable) BBB+ (Stable) Baa1 (Stable)

Also, the subsidiaries of CNO Financial / Conseco also have been given top grades from the Better Business Bureau (BBB). For example, Bankers Life has been an accredited company through the Better Business Bureau since August 1, 2013, and the BBB has provided this company with a grade of A+ (which is on an overall grade scale of A+ to F).

Over the past three years, Bankers Life has closed out a total of 112 customer complaints (of which 39 have been closed within the previous 12 months). Of the 112 total, 73 were regarding problems with the company’s product and service. 15 had to do with delivery issues, 12 were concerning billing and collection issues, 11 were related to advertising and sales issues, and one had to do with the company’s guarantee issues.

Colonial Penn Life Insurance Company has an A- rating from the Better Business Bureau. Within the past 36 months, this CNO Financial subsidiary has closed out a total of five customer complaints. Four of these complaints dealt with problems with the products and services, and the other one was regarding billing/collection issues.

The subsidiaries of CNO Financial (Conseco) offer a wide variety of life insurance coverage. For example, Bankers Life Insurance Company offers both term and permanent life insurance products. With term life, insureds can choose a pre-determined number of years of coverage, such as 5, 10, or 20. The premiums on these policies will remain level throughout the life of the policy.

Bankers Life also offers both whole life and universal life insurance coverage in its permanent life coverage category. With whole life, the premiums will stay level and will never go up (if they are paid on time). The universal life insurance coverage that is offered by Bankers provides more flexibility regarding premium payment and amount. Both policy categories offer guaranteed cash value in the policies. And, this money may be borrowed or withdrawn by the policy holder for any need that he or she sees fit.

Colonial Penn Life Insurance Company has been offering life insurance coverage for more than 50 years. This Conseco / CNO subsidiary provides both term and permanent protection, too. And, with the company’s guaranteed acceptance life insurance, an applicant is guaranteed to be approved for coverage – and there are no medical exams or health questions required for approval. With these permanent life insurance policies, the premium rate will be locked in, and the plan will start to build up cash value after the first year.

The life insurance plans that can be purchased through Colonial Penn offer coverage of up to $50,000 (for both term and whole life coverage). And, individuals may apply for either a term or a whole life policy up to age 75.

Likewise, Washington Mutual Insurance Company also provides an extensive list of life insurance coverage options to choose from. These also include both term and permanent coverage options.

The term policies from Washington Nation can provide coverage for just a few years, or for many years. The monthly premiums will remain level throughout the life of the policy.

Regarding permanent life insurance coverage, Washington Mutual offers both whole life and indexed universal life insurance plans. Whole life policies offer a choice of having a level benefit (where the policy pays out the face amount and any rider benefits to a named beneficiary upon the insured’s death), or a graded benefit (where the policy will pay out a reduced amount of benefit if the insured’s death occurs for reasons other than an accident within the first two policy years).

With an indexed universal life insurance policy through Washington Mutual, there is a death benefit, as well as a cash value component. The growth of the cash inside the policy will have a return that is based on the performance of an underlying market index (such as the S&P 500). If the index performs well, the policy holder can obtain an excellent return for that period. However, if the underlying index performs poorly in a given year, the return will just be credited as a 0% for that time – which essentially allows the protection of the policy holder’s principal).

The indexed universal life policies at Washington Mutual Insurance Company may also allow the insured to access “living benefits” in certain situations. This means that he or she could access the policy’s death benefit proceeds, while still alive, for expenses that are related to a terminal illness diagnosis and confinement in a nursing home.

Burial Insurance

Even if you have all your finances in order, there may still be one area that has been left out – and because of that, it could leave those you care about vulnerable to future financial hardship. That is the payment of final expenses.

Today, the average cost of a funeral is between $8,500 and $10,000. This is especially true when you factor in the price of a memorial services, flowers, and transportation, along with other items such as a burial plot and headstone.

Rather than having your loved ones dip into their savings, or worse, put these expenses on credit when the time comes, you could provide them with the financial gift of a burial insurance policy.

Burial insurance is a type of life insurance that is specifically designed for paying one’s final expenses. Also, often referred to as funeral insurance or final expense insurance, these plans will typically have a benefit amount of between $5,000 and $25,000.

In some cases, an insured will add an amount of coverage so that other unanticipated expenses may also be covered, such as hospice care and end of life hospitalization that is not included in a regular medical insurance policy.

When you are seeking the best burial insurance policy for your needs, several factors should be considered. These include the type and amount of coverage, as well as the insurance carrier that you plan to purchase the coverage through. In this case, you will ideally want the company to be secure and stable financially, and to have a good reputation for paying out its policy holders’ claims. One insurer that meets these criteria is Conseco.

Other Products and Services Offered

In addition to life insurance protection, the Conseco / CNO Financial subsidiary companies also offer additional financial and insurance related products. These include the following:

Bankers Life

  • Medicare Supplement Insurance (the company offers several of the ten Medicare Supplement insurance plans)
  • Retirement Annuities (these products can provide a way to save money in a tax deferred fashion, and they can also provide a guaranteed lifetime income stream in the future)
  • Long Term Care Insurance (most long-term care insurance policies will pay out benefits if the insured is receiving qualified care in a facility or their own home)

Washington National Insurance Company

Washington National Insurance Company also offers a variety of different products. These include:

  • Health Insurance
  • Workplace Benefits (including term and universal life insurance, hospitalization and ICU coverage, cancer and critical illness insurance, and accident and disability coverage

How to Get the Best Premium Rate on Life Insurance Coverage

If you are seeking the best premium rate on life insurance coverage through the subsidiary companies of Conseco / CNO Financial – or from any insurance carrier – it is recommended that you work with an independent life insurance agency or brokerage. That way, you will be more easily able to compare numerous policy options side-by-side in an unbiased manner. You will then be able to determine which of the policies – and the premium prices – work the best for you, and for your budget.

When you are ready to start comparing the best life insurance coverage for your needs, we can help. We are an independent life insurance broker, and we work with many of the top life insurance providers in the market place today. We can assist you with getting all of the information that you need for making a well-informed buying decision. And, you won’t have to meet in person with a life insurance agent. If you are ready to begin the process, then just simply fill out our short quote form.

We understand how overwhelming it may seem when you are looking for the right life insurance protection. There are many different variables to consider – and you want to make sure that you are choosing the right policy – and the right insurance company – for your specific needs.

But the good news is that you don’t have to go through this process alone. Working with an expert can put you back in control. So, contact us today – we’re here to help.

Source: goodfinancialcents.com

Apache is functioning normally

Last Updated on February 25, 2022 by Mark Ferguson

Rental properties are a great investment, but they take work to manage, especially if you do not use a property manager. I own more than 20 rental properties and I managed my rentals myself until I had 7 and realized it was taking way too much time. My rental properties are single-family, mixed-use, and commercial properties. Managing rentals is not extremely difficult but it takes time, you have to pay attention to details, and be firm with tenants to successfully manage rental properties yourself. You can’t be easy on your tenants and you can’t ignore problems, because that is when rental properties can change from a great investment to a poor investment.

Self-management

Whether you chose to manage your rentals on your own or hire a property manager you need to know how to manage the properties. If you are hiring a property manager you need to know if they are doing what they are supposed to be doing. It can help top manage rentals yourself to get an idea of what is involved to see if the management company is any good or not! A lot of this is also common sense and you don’t have to manage properties first if that is not your thing.

Here are some tips on how to manage rentals the right way. You will notice that there is a lot that needs to be done and it may not be as easy as you thought.

How to figure market rent rates

Determining market rent should be done well before you are ready to rent a house and one of the first things you do as a real estate investor. You should have an idea of what a house will rent for before you even buy a rental property so that you know it is a good investment. It is tricky to tell people exactly how to determine market rental rates because each market uses different techniques to rent homes. Some markets primarily use the MLS to rent homes, while other markets (like my market) use Facebook, Craigslist, or Zillow as the primary method to rent a home.

You need to check the prices of other rentals in the area to see what market rents are. You cannot simply choose the highest rent you can find and assume that is what you will get. You can also check with property management companies or real estate agents to see what they think properties will rent for.

When I am trying to determine rental rates, the first thing I do is pull up properties for rent on Facebook. I browse the marketplace to see what is available in the neighborhoods that are most similar to my property. I don’t look at the most expensive rentals, I look for homes in the lower end of the price range (Be careful if you see an incredibly low-priced rental, it may be a fraudulent listing trying to get people to mail money to Nigeria). There also could be some incredibly high rents being asked for executive or short-term rentals that may not compare to your rental.

Looking at prices online is the first step. To see what is actually renting takes a little more work. Print or write down the ads that are the most comparable to your property. Wait three days, and then check to see if the ads are there. If the advertisements are gone, then those houses were probably rented. If they are still up then they probably have not rented. Check again in a week to see which ads are still there and which are gone. If you want to take one more step then call the numbers or email the ads that you first printed and ask if the properties are still available.

I have tried a couple of different methods of pricing my rentals.

  1. Price at the top of the market and try to find a renter who will pay a premium.
  2. Price a little below market and take my pick of great renters.

My experience has been better with taking my pick of great renters. Even though the rent is lower, I usually have a lot less to worry about like late rent or excessive wear and tear. Whenever I price rentals high, I am waiting for a decent to mediocre candidate to send an application in, instead of picking the best tenant from many applications.

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Advertising

Once I have a decent idea of the market rent, I place an ad on Craigslist, put a for rent sign in the yard, and post it on Facebook, Craigslist, and Zillow. I don’t post in my MLS because very few people look for rentals with an agent in my area. Other areas of the country primarily use MLS or another method to advertise rentals. Be sure you research what the most prominent way to advertise rental properties is in your area.

Application

I use an application I found online and altered slightly when I am looking for potential tenants. I used to not charge an application fee or run a credit check but I do now. I charge $50 for an application fee and I use that money to run a credit check and background check. Potential tenants have had no problem paying these application fees, and it helps to make sure all tenants submitting an application fee are serious. A great way to judge a tenant is by talking to them as much as possible and looking at their application.

I want to see an application that is filled out as much as possible with multiple references. If an application is barely filled out, then the potential renters aren’t taking the process seriously or they are trying to hide something. When I talk to a potential renter, I want to learn as much about their previous living situation as possible, I ask about pets, I ask about employment, and who will be living in the property. The longer you talk to a tenant, the more you can learn about them.

When you first talk to a tenant on the phone, take notes so you remember what they said. Then when you meet them in person, ask them some of the same questions to make sure they give you the same answers. If someone is lying to you, it is a very bad sign. If they are late or do not show for an appointment it is an extremely bad sign. To avoid tenant problems, proper screening is vitally important and we now use SmartMove for credit and background checks. SmartMove lets the tenant sign in and pay them directly for background and credit checks so you don’t have to take social security numbers or private information. They also give you a recommendation on whether you should accept the tenant or not.

References

I always call references for all applicants that I am considering. I want to talk to the reference for the applicant’s previous residence and their current employer. I want to know if they paid rent on time, took care of the residence, or were high maintenance. By high maintenance, I mean calling in every week for minor issues, causing plumbing problems because their children like to flush toys down the toilet or any number of other items. I want to see if they had pets and if that information matches up with what they are telling me on their application. I want to ask the employer how long they have worked there. I want to know if they are a good worker and how solid their position is.

I will also ask how much money they make to see if it lines up with what the applicant is telling me. You cannot rely on everything a reference says because they may want the tenant out of their property and will say they are great when they are a nightmare! This is only one piece of the puzzle.

Pets and smoking

Pets can be an extra source of income or destroy your house. I prefer not to allow pets at all, but I may allow one dog with an additional pet deposit or an increase in rent. I usually charge a $200 nonrefundable pet deposit for a small dog. I always want a pet reference as well, meaning they had the pet in their previous residence and the pet did not hurt the property.

I do not allow cats, cats can ruin a house quicker than anything. If you haven’t smelled cat urine in a house, it is not pleasant. At a minimum, you have to remove all carpets and padding and in some cases remove the subfloor as well. I do not allow smoking in my rental properties at any time. If anyone is caught smoking or breaking any of the other rules, the lease says I can fine them $750 per occurrence.

Lease

I am lucky that I have a sister who is a property manager. I was able to use her lease and customize it for myself. Everything needs to be in writing including rent, term, late fees, the date rent is due, and things the tenant can and can’t do. A few things I include in the lease:

  1. No painting without written approval.
  2. Do not hang curtain rods without written approval.
  3. No smoking on the property.
  4. No pets on the property.
  5. Only people on the lease and their children may live in the home.
  6. No overnight visitors for over three straight nights.
  7. No illegal activities on the property.

If any of these rules are broken, the lease says I can fine the tenants $750 per occurrence. If there are any exceptions to these policies, I put them in writing in additional provisions in the lease. I have a section that shows what utilities are paid by tenants, in my case all of them. I have a section that says if the tenants break their lease early, they owe the remainder of the rent due for the entire lease. If I can rent the home again, I can’t charge the previous tenants for rent as well, but I will charge a one-month’s rent lease-break fee. I have many other items in the lease. I am not an attorney and I highly suggest you have an attorney look over any lease you create.

Lead-based paint

With any house built prior to 1978, I have to provide a lead-based paint pamphlet explaining the dangers of lead-based paint. I also have a lead-based paint disclosure signed by the tenants as well.

Deposits

I charge one month’s rent for the deposit, and it must be paid with the first month’s rent before the tenants move in. The only time I split up the rent and deposit is if the tenants want to reserve the home before they move in. They can pay the deposit first and then pay rent when they move in.

Safety

Each state has different laws regarding carbon monoxide detectors and smoke alarms. No matter what your state law is, I would put them in. In Colorado, we have to have carbon monoxide detectors within 15 feet of every bedroom. They are very cheap for the protection they offer, and you can plug them straight into an outlet.

Keep tabs on your tenants

The worst thing a landlord can do, besides rent to bad tenants, is ignore tenants or their properties. If you never talk to your tenants or never send them anything in the mail they will think you don’t care. Once they think you don’t care they will stop caring about the house and stop paying rent. Landlords cannot assume tenants will pay their rent and take care of properties without any oversight.

When I managed my properties, I had a tendency to be very lenient with my tenants. Some tenants paid on time and took care of my rentals and others always paid late and damaged my houses. I learned you have to be tough no matter what the tenant tells you. After learning my lesson I became very strict on rent being in on time and scheduled routine check-ups on the houses.

I learned the more you contact your tenants the better tenants they will be. We have a maintenance person check every house once a quarter. He checks furnace filters, smoke detectors, carbon monoxide alarms and looks for any problems. It is written into the lease that we have someone check the house every quarter and the tenants know they will have to keep the house in relatively good condition.

I said this once already, but it is worth repeating. The worst stories I hear are from landlords who did not check on their houses for years and they were surprised to find the tenants had trashed the house. Not only can tenants trash the house easily without oversight, but they also have a greater tendency to commit illegal acts at the house or create dangerous situations.

A drug house is a landlord’s worst nightmare, especially a meth house. If a property is used as a meth lab, the entire interior may have to be gutted costing tens of thousands of dollars or more. If the tenant knows they will be checked on every couple of months, there is a much better chance they will refrain from illegal activities.

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Late Fees

My leases say that all rents must be received by the 1st of the month and rent is late on the fifth. If we don’t receive rent on the fifth we start charging late fees. I don’t care why the rent is late, we charge late fees. It is not fair to charge late fees to one tenant and not another. If you don’t charge late fees the tenants will think they can continue to pay rent late with no penalties. Pretty soon the tenants are one month behind and it is a struggle for them to ever catch up. Once they get too far behind they may stop paying altogether and then you will have to evict them.

Evictions

I rarely have to evict a tenant, but that doesn’t mean I have not had bad tenants. The reason I avoid evictions is I usually come up with a mutually agreeable move-out plan for the tenant. If you have to evict a tenant it can be a very expensive and a long process. The eviction process varies in every state. In Colorado, it takes about a month to evict a tenant. In other states, it takes longer and in a few states, it is a quicker process. It is not only the time it takes to evict someone that costs money.

To get to the eviction point, the tenant is at least a couple of months behind on rent. People also do not like being evicted and have a tendency to do damage to homes when they are evicted. I have avoided evictions, but that does not mean I have avoided vacancies. I have ended leases early in multiple situations where the tenant could not pay rent or would not for various reasons.

Instead of going through the lengthy eviction process, we were able to work out a deal where the tenant moved out before their lease was up and I did not hold them responsible for the rest of the lease. I could have held them responsible for future rent as well, but that leaves hard feelings and there is a better chance they would damage the home.

By letting them leave early, they get the feeling I am helping them out. In my rental market, I also have no problem renting homes quickly. I would much rather get a bad tenant out right away and get a good tenant in the property. I still try to collect any back owed rent or any damage done to the property above and beyond the security deposit.

We also always use a lawyer when we have to evict because while it costs money it saves time and it is easy to mess up the paperwork!

Behind on rent

Most of my tenants are very good about paying rent on time because they know they will be charged late fees. I had one tenant that was always late and always has a multitude of excuses and pretended he was not late. The funny thing is he had bought a brand new Toyota Sequoia and we got a call from another car dealership because they were trying to buy a second brand new car. Some people do not know how to manage or save money! If I never told this tenant how far he was behind, he would assume he was paying on time. In fact, he would probably stop paying altogether and assume someone else had started paying rent for him.

One thing we do is send an invoice every month to every tenant. This reminds them to pay rent on time, reminds them where to send the rent and they have no excuses for not knowing they were behind. If a tenant gets more than one month behind or stops communicating with us we will post a notice to vacate on their door. When you post this notice you do not have to evict the tenant, but it sure gets their attention and if they don’t contact us, it is the start of the eviction process.

Maintenance

Some landlords are cheap and will not maintain their properties or repair their houses. You are asking for problems from the property and the tenant if you do not maintain the property. A house that shows poorly will attract poor quality tenants and if the tenants are unhappy with the home they will be less likely to pay rent or take care of it.

If the landlord ignores problems like a bad roof, bad electric, or bad plumbing it could cause thousands of dollars in damage or be dangerous. Rental properties do not have to look like a luxury resort, but they should be functional, all the major systems should work and they should look and smell decent. Maintenance items will come up and that is why it is important to have enough money in reserves to pay for repairs.

How long does it take to manage rentals?

There are many tasks associated with managing rentals, but it doesn’t take a lot of time for one property. The most time-consuming part of managing properties is getting them rented. If you only have one rental property you should be able to spend a few hours a month managing it. Many of those hours will come from renting the home and much fewer hours will be from collecting rent, dealing with maintenance, and other issues.

Managing one rental property, two or three rental properties is not too difficult either. Once you start getting four or more rentals it starts taking a significant amount of time to manage your properties. If you don’t have the time to manage them; get help. When you don’t take the time to screen tenants or check up on your properties is when you encounter serious problems.

Hiring a property manager

There is a lot involved in managing rental properties, but not every rental will have issues that require a lot of management. I have had rental houses that never have a problem, are well maintained and the tenants always pay on time. I have had other rentals where the tenants are always having problems, pay late, or stop paying completely. I had one tenant who had a heart attack and could not work anymore.  We came up with a mutually agreed-upon plan where he would move out and try to pay me back for back rent owed. He never paid me, but I rented the house right away for more money than he was supposed to be paying and it worked out okay.

It is worth it for many people to use a property manager, especially if they can’t handle being tough on tenants. Property managers will cut into your profits, but they will save you time as well. Property management fees usually range from 8 to 12 percent of the monthly rents. Some property managers also charge a leasing fee, which could be one-half or one month’s rent. In my area, I can find property managers who charge 8 percent of the monthly rents with no leasing fees. I have thought about starting a property management company, but with fees that low it is hard to make much money.

I have a real estate team that consists of real estate agents, assistants, and myself. When I gave up managing my rental properties, I handed the duties over to my team. Not only does my team help me with selling houses and my fix and flips; they manage my rental properties.

Conclusion

If you want to manage your own rentals, make systems to help you. Create a system to check your houses, make sure rent is on time, and make sure accounting information is logged every month. It was not difficult for me to manage my rental properties, but I also started to let things slide at the end and that is when problems occur. If the tenants don’t think you are paying attention they will be more likely to try and take advantage of the situation. If you are looking to buy rental properties and do not think you can handle managing them, make sure you account for the cost when figuring your cash flow.

Build a Rental Property Empire

Categories Rental Properties

Source: investfourmore.com

Apache is functioning normally

Last Updated on March 29, 2023 by Mark Ferguson

I fix up a lot of houses whether they are my personal house, my rental properties or my fix and flips. When I repair a house I don’t mean I do the work myself; I have a contractor do it for me. The most difficult part about fixing up a home is finding a great contractor and estimating how much the repairs will be. Estimating the costs to repair a house is not easy to do, but this article will give an idea of what repairs will cost. Repair costs will vary based on the quality of products used, how much labor costs are in your area and the contractor you use.

Update on 2021 repair prices!

I wrote this article before Covid hit the world. You might assume that Covid would decrease the prices of repairs but the opposite has happened. Repair costs have skyrocketed. Many manufacturing companies that produced materials shut down or reduced production while at the same time people were staying home and completing remodeling projects! The price of lumber, insulation, windows, doors, etc has gone much higher.

I am hoping that the market corrects itself soon but you can take most of the prices I list here and add 20 to 40 percent thanks to the increase in costs.

Why buy something that needs work?

Almost all the houses I buy need work and some need a lot of work. I would love to buy houses that are in great condition, but I want to buy houses that are a great deal. To get a great deal you usually have to buy houses that need some type of repairs, because there are fewer buyers who will buy those homes. When a house needs a lot of repairs, most buyers may not be able to get a loan on that house. The fewer buyers for a house the better deal you can get. It also takes cash to make repairs on a house, which further reduces the number of people who can buy houses that need work. Many people don’t want to hassle with making repairs or finding a contractor to make the repairs, which further reduces the buyers for homes that need work.

Even if you buy a house that is in great shape it will need work at some point. The fixtures may become outdated, the interior or exterior may need paint and things eventually break.

Below is a video on a house we flipped and how much it cost to fix up:

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How much does it cost to paint?

When I fix up a house I always paint the house and replace the floor coverings, unless those items were just done. The cost to paint a house has increased a lot in the last few years because the cost of paint has increased and labor has increased as well. My costs to paint the interior of a house are about $1.50 to $2.00 a square foot. For a 1,500 square foot house, it costs about $2,200 to paint the interior. That includes painting the trim white and the walls a different color like beige or gray.

The exterior of a house costs more to paint because the paint is more expensive, more prep work is needed and the weather has to be nice. Painting the exterior of a house can run $3.00 a square foot or more depending on the complexity and condition of the house. If a home has peeling paint it will cost much more to scrape and prepare the surface for new paint. If a house has lead-based paint, the costs can be much more due to the preparation and clean up work needed to dispose of the old paint. Your contractor or painter must be certified to remove lead-based paint or they can face huge fines from the government.

How much does flooring cost?

When I replace the flooring I almost always use carpet for the living areas and vinyl or tile for the kitchens and bathrooms. If a house has hardwood I will re-finish the hardwood, but I don’t add or replace hardwood because of the cost. It will cost three times as much as carpet to install hardwood floors. For me to replace the carpet in a 1,500 square foot house it will cost about $3,000 to $3,500 installed. Vinyl or tile will cost another $500 to $1,000 for the kitchen and baths. These costs are for middle of the road materials that look nice and will last, but do not cost a fortune.

If a house already has hardwood I will do my best to re-finish it, because refinishing is cheaper than installing new carpet. I also like the look of hardwood floors and buyers love them. I can re-finish a 1,500 square foot house that is mostly hardwood for about $2,000.

We will also use laminate or vinyl plank flooring now that the quality has improved and it lasts if installed correctly.

How much are light fixtures?

Another great update to a house is replacing the light and plumbing fixtures. A house with brand new lights, door handles, and faucets that all match, can transform a home. I like to use antique bronze, but we have also used brushed nickel. Light fixtures are as cheap as 2 for $20 for a basic bedroom and bathroom lights. A nice chandelier can be bought for under $150 as well as a nice ceiling fan. Door handles are $20 or less depending on the style and faucets run from $35 to $150. For an entire house, you can replace the lights, door handles and faucets for about $1,200 installed.

How much are appliances?

Another way to make a house look great is by adding new appliances. We put stainless steel appliances in our houses; I can get a stove for $500 to $600, a dishwasher for $300 and microwave for $250. I usually do not buy a fridge for my flips and for my rentals I may buy used appliances off Craigslist. Appliances make a huge difference in the look of a kitchen even if the cabinets are dated.

How much are cosmetic repairs?

If you do all the work mentioned above and the rest of your home is in decent shape, it will make a huge difference in the look and feel. I almost always do all the repairs I discussed on every fix and flip. With my rentals, I usually do most of those repairs, but if a house is in decent condition I can get away with less. Here are the total costs for a cosmetic upgrade on a 1,500 square foot house:

New interior paint: $2,200

New floor coverings: $4,500

New fixtures: $1,200

New appliances: $1,300

Total cost: $9,200

When you fix up a home it almost always costs more than you think so be prepared to spend more than what you calculate. It is very rare that I ever spend less than $10,000 on any house that I fix up because there are usually many little things that need to be repaired as well. Drywall holes, outlet covers, landscaping, and many more things will increase the costs. It is also rare that I do not have more major repairs to complete.

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How much are major repairs?

The repairs on my flips and rentals vary from basic cosmetics to a massive remodel. Here are other common repairs we make on houses and the cost.

  • Kitchens: It is not as expensive as you might think to replace a kitchen. I can replace a basic kitchen including cabinets, countertops and sink for $2,500 in materials or less. After adding the labor you can replace a kitchen for well under $5,000.
  • Baths: Baths can be gut jobs or a simple vanity replacement. For a full gut job, I can usually get the job done for less than $3,000. To replace a vanity, toilet and bath surround it can be done for less than $1,000.
  • Roof: I have a great roofer who will replace the roof on a 1,500 square foot house for around $6,000.
  • Electrical: Electric repairs can vary a great deal based on what needs to be done. Minor repairs can be a couple of hundred dollars or major rewiring jobs can be $5,000. It is important to get any electrical concerns checked out to see how serious they are.
  • Plumbing: Plumbing is similar to electrical. A minor job can be very cheap, but to re-plumb, a house can cost $5,000 or more.
  • Sewer: Sewer lines can be very expensive to replace. Luckily I have never had to replace one, but to replace a line can be $3,000 to $10,000.
  • Foundation: Most foundation repairs are not fun to deal with. There are many issues from settling, water leakage, grading issues or structural problems. If you have water problems in the basement or crawl space it could be a major foundation issue that is $10,000 or more or a simple grading issue that some dirt work will fix.
  • Windows: We end up replacing a lot of windows because we buy older houses all the time. For basic vinyl windows, I am usually charged about $300 a window by my contractors for material and install.
  • Doors: We also replace a lot of interior doors. Six-panel white doors make a home look very nice. Doors are usually $100 to $150 per door installed.
  • Stucco and siding: I rarely replace the siding on a home, but I have on occasion.  I am putting brand new stucco on a fix and flip that is costing about $8,500 for a 1,250 square foot house. Replacing wood siding is cheaper, but you then have to paint the wood siding. You can still re-side and paint a house for less than stucco in most cases.
  • Drywall/Sheetrock: With old houses, I see a lot of plaster and bad drywall. Brand new drywall makes an old house look so much better than uneven crumbling plaster. On a recent flip, a drywall specialist charged about $3,000 to do the walls and ceilings in three rooms that totaled about 500 square feet.
  • Furnace/hot water heater: I had a brand new forced air furnace system installed for about $5,000 this year. To replace just the furnace is about $2,500 and a hot water heater about $800.

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How much do I spend when I repair a house?

On my most recent fix and flip that is about to be put up for sale, I spent about $18,000 on the remodel. That included interior and exterior paint, new carpet, new doors, new trim, some electrical work, some new drywall, trash out, landscaping work and many little fixes. On a flip that is about to have the work started, I will spend over $50,000 on the repairs. That house needs new plumbing, new electric, new paint everywhere, siding work, new windows, new doors, new drywall, new baths, new kitchen, new floors, new fixtures, new trim and more.

Where do I buy materials to fix up my houses?

I shop at Home Depot for most materials including fixtures, doors, windows, door handles, kitchens, baths, and all the little stuff. I have a pro account with Home Depot, which gets me huge discounts on the materials we buy for flips and rentals.

Conclusion

Repairing a house does not cost $50,000 or $100,000 for basic cosmetic repairs. I see kitchen remodels on television that cost $50,000 and I can’t believe my eyes and ears! Even if you use high-end materials like granite counters and custom cabinets you should not spend $50,000 on a kitchen unless it is in a million-dollar home. Repairs can add up quickly on remodels and I always expect about $5,000 more in costs that I plan to spend due to unknowns. Find a great contractor, make sure that contractor does their work and shop around for the best prices to keep your costs down. Remember these costs are what I pay to fix up homes in my area. If you live in an expensive town, your costs may be significantly higher.

My book Fix and Flip Your Way to Financial Freedom, goes over exactly how I flip houses! It covers how to find deals, finance properties, what repairs to make, and how to market finished flips! It is available as a paperback and ebook on Amazon.

Build a Rental Property Empire

Categories Fix and Flips

Source: investfourmore.com

Apache is functioning normally

Sugar House, just 10 minutes south of downtown Salt Lake City, is a notably chic and effervescently cool neighborhood. The area is known for classic homes, walkable streets and thriving local businesses—including some of the state’s best local eateries, boutiques, and art galleries.

Thinking about house hunting in the area? Find out more about what living in Sugar House is like with our Homie Neighborhood Guide below.

FROM THE 1920’S TO TODAY

Sugar House is one of the oldest cities in the valley, and it has the charming 1920’s and 1930’s bungalow-style homes to prove it. The area blends old-world charm and modern convenience. Historic shops like Harmon’s Emigration Market, a centerpiece of the beloved 15th & 15th area has been around since the 40’s, and modern restaurants like Kimi’s Chop and Oyster House, Even Stevens, and Pho Thin create a mix of old and new.

Sugar House homes are known for unique architectural features like built-in shelving and arched doorways. Add mature tree-lined streets with independent shops nestled in-between, and you’ve got the makings for something really good.

FIND YOUR TRIBE

Sugar House is the hipster cousin to Salt Lake’s posh Avenues neighborhood and the younger version of adjacent Millcreek. The community features a blend of residents; from students attending the University of Utah or Westminster College to young families to long-time residents. The neighborhood is diverse and all walks of life are welcomed.

Homes vary significantly in price, but most homes are well above the state’s average median home price ($274,000). Popular areas are often list upwards of $500,000. Click here to search Homie’s current Sugar House listings.

MUST-KNOW AREAS

  • 15th & 15th: This area is a Sugar House staple. Only a few blocks in size, you’ll find seriously goodness eats here, with the likes of Tulie Bakery, Sea Salt, and Eggs in the City. It’s also home to local favorites, including King’s English Bookstore and 15th Street Gallery.

  • 21st South: The renovated 21st south area is a gorgeous mixed-use development area featuring new modern-style dwellings, a mix of big-box stores like Nordstrom Rack, Barnes & Noble, and Old Navy, and independent establishments like Details, Soup Kitchen, and Wasatch Brew Pub.

  • Sugar House Park: The area’s namesake park, Sugar House Park, draws sunbathers and dog-walkers in the summer and kids pulling sleds in the winter. This well-manicured public park features everything from a 2-mile running trail to open spaces and playgrounds to public-use picnic pavilions.

WALKABILITY & DRIVABILITY

Stroll from store to store. Have a cocktail at one restaurant and then walk down the street to enjoy dinner nearby. Get your fill of green from tree-lined streets, parks and a creek-side walking trail. Most neighborhoods are within a 10-15 minute walk to nearby grocery stores, and restaurants of all types and sizes. 

If walking doesn’t appeal to you, the ease of public transit just might. The opening of the S Line, a new public rail that connects Sugar House to downtown Salt Lake City, makes the area extremely accessible.

And, if you want to hop in a car, the neighborhood has easy access to I-80 and I-215 and it’s only a 20-minute drive to any of Utah’s famed ski and snowboard resorts, including Park City Mountain Resort, Alta, Brighton, and Snowbird.

NEED MORE INFO?

Ready to find your dream home in Sugar House? A Homie agent is here to help you every step of the way. Start by checking for current home listings in Sugar House on Homie. When you find a home you’d like to tour, just click ‘Schedule a Tour’.

Source: homie.com