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“You don’t have to be world-class great to make a great living doing what you love,” Jonathan Fields writes in Career Renegade, “if you are willing to step outside the box, approach your passion differently, find innovative ways to mine that passion for money, and work like crazy to make it happen.”

In Career Renegade, Fields draws upon his own experience, as well as that of others, to provide a blueprint for those willing to take that entrepreneurial leap of faith.

Career Renegade is an odd book. Its title and marketing might lead you to believe it’s about careers. As I write this, it’s the number one book in Amazon’s “job hunting” category, which is baffling. Career Renegade isn’t about job hunting or changing careers. It’s about taking your passion and turning it into a business. It’s about entrepreneurship. As long as you expect this going in, it’s a great book.

Profiting from your passion
Career Renegade starts by exploring the relationship between what we do and what we love. Fields encourages readers to examine their own lives to discover what it is they’re passionate about. His message is that although it might seem impossible, although it might take some hard work, you can turn your dreams into a career.

“The paths to transforming a moneyless passion into a lucrative future are limited only by your own creativity,” Fields writes. Career Renegade suggests seven possible paths for turning passion into profit:

  1. Redeploying your passion in a hungrier market. Do what you love in an area where there’s high demand.
  2. Refocusing and mining the most lucrative micro-markets. Sometimes the solution is to narrow your market, to focus on doing something valuable for a select group of people.
  3. Exploiting gaps in the information needed to excel at an activity. Fields argues that one way to succeed at doing what you love is to provide information that nobody else offers, or to offer it in a way that others don’t. Get Rich Slowly is an example of following this path.
  4. Exploiting gaps in education. Beyond just providing information, some people can profit by directly teaching others.
  5. Exploiting gaps in gear or merchandise. Using this path, you turn your passion into a product. You “build a better mousetrap”, so to speak.
  6. Exploiting gaps in community. People value networks, and if you’re the first or best to create one devoted to your subject, you can become the leader in the field. Fields mentions Ladies Who Launch as an example of taking a passion for community-building and it into a career.
  7. Exploiting gaps in the way a pursuit is provided. The final path is to make it easier for people to do what you love (and what they love).

Fields writes that it’s possible to “turn your passion loose in unexpected places”. He cites the example of Liv Hansen, a young woman just out of school who couldn’t find a job in the art world. She went to work at her mother’s bakery, and began to create fanciful designs on the wedding cakes and cupcakes. Though this may not have been how she had planned to use her art degree, it turned out to be profitable and fulfilling work.

While the first half of Career Renegade is devoted to helping you find your passion, the second half is all about developing an entrepreneurial mindset and marketing your idea.

What if you’re not an entrepreneur?
Many of my friends love their jobs and have no desire to become self-employed. They use hustle, passion, and patience to make the most of working for somebody else. It’s very possible to make a great living doing what you love without striking out on your own.

My wife, for example, just isn’t an entrepreneur. Kris loves her job as much as I love mine. She enjoys her co-workers and the workplace culture. She has no desire to work for herself. What does Career Renegade have to offer folks who don’t want to become entrepreneurs? I asked the author to comment on this. Jonathan Fields responded:

I lean strongly toward taking more control and being an entrepreneur. And, most of the people in my book seem to be wired that way, too. But that’s not necessarily true.

There will still be some people that just want to keep working for someone else. The cool thing is, you can tap many of the market research strategies that I lay out in the early part of the book to not only test your idea, but identify other people and companies to connect with. They’ll reveal companies who are doing something similar, then you can:

  • approach them for a job, or
  • build your personal brand online to showcase your abilities in the area of your passion, then tap social media to find key influencers and hiring managers and make them aware of your showcase

That whole process is largely what the second half of the book is about.

All the same, I’d hesitate to recommend Career Renegade to somebody simply hunting for a new job. I don’t think it’s appropriate.

Career Renegade also suffers from one of the same flaws as The Power of Less [my review]: it’s tech-centric. Its examples and suggestions are based on the assumption that you can leverage the web and social media to make your business succeed. This isn’t always true. My father’s passion was to start a small manufacturer of custom boxes. There is nothing that Twitter could offer my family’s box factory. Podcasts and blogs won’t help either. It’s not that sort of business.

The bottom line
Career Renegade is not a bad book — not at all! It is, however, a book aimed a narrow target audience, one much narrower than the cover and title might lead you to believe. Entrepreneurs are a subset of the general population. This book is written for a subset of entrepreneurs.

There’s a lot of fine information here for those interested in launching a business in which the internet will play a key role. I love the case histories that Fields uses to flesh out his topics. I never tire of reading how other people have managed to turn their passion into a business. I can learn a lot, for example, from reading how Anita Campbell moved from lawyer to blogger at Small Business Trends.

Career Renegade is a great book — for a certain type of person. If you believe you might enjoy working for yourself — even if you don’t know what it is you’d do — this book is worth reading. If you are looking to start your own business and if that business requires a strong online presence, this book is a tremendous resource. But it’s not the next What Color is Your Parachute?

Source: getrichslowly.org

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There are five sleeps left until Christmas. Are you as unprepared as I? There’s no shame in that game. Life is just too busy sometimes. If you can’t squeeze in an IRL shopping trip (though the slow-shopping experience is actually rather uplifting), thankfully things like Prime have been invented. There are always those last second gifts that leave you a little stumped. Stocking stuffers, the gift for that last Christmas cocktail party, your best friend who already has everything. But you don’t have to resort to cheesy mugs, bad t-shirts or other tchotchkes. With just a little extra online sleuthing you can, in fact, find some pretty dang looking gifts that will get to your front door with just enough time to wrap up and get them under that tree. Btw, if you think this shopping list might be self-serving because it represents everyone I still need to shop for, you might be right.

1. Showing up at a Christmas party empty handed is a major faux pax, but showing up with a bad bottle of wine is even worse. Why not gift something your host can enjoy long after all of the holiday trimmings are put away. An oversized marble candle is a nice step up from any old candle that you see everywhere. ($29)

2. I’m always hunting for the perfect little stocking stuffer that isn’t just total cheap crap. This lip tint by the organic skincare line Herbivore has purdy packaging and a universally flattering color. ($28)

3. There’s nothing I enjoy more than girl talk over good wine with a best friend. These rose gold tripped wine glasses would be a welcome addition to anyone’s bar. ($65)

4. If you know a cooking enthusiast, it can be tough to find them something interesting, but this cookbook featuring traditional Venetian dishes from famed restaurant Polpo would offer any home-cook a fun challenge. And I’m not just saying that because I honeymooned in Venice and am obsessed with food there and might want this book to show up under my own tree! ($34)

5. There are a lot of flasks out there. This is not a new nor groundbreaking idea for gifts for the guys, but if you’re serious about you guy having a little nip, give him a serious flask. This flask, sold at retailers like REI, is designed for the outdoorsman. It’s made of stainless steel, is leakproof and has a lifetime warranty. Leave those wanna be flasks at Urban Outiftters alone. ($16).

6. Moms seem to always love Christmas decor, but instead of another set of cheesy hand towels, why not give her a piece of cool modern holiday decor like this christmas tree will add cool touch to next year’s holiday trimmings. ($32)

7. Everyone loves cute animals, but they’re particularly fabulous in a nursery. This art print of a highland cow is so dang cute, I’d be happy seeing it anywhere in my house but I think a new mom would be so excited for something that lasts longer than a onsie or an overpriced pair of baby moccasins. ($25)

8. A salt and pepper shaker can be a pretty ho-hum gift, but this set designed by modern home furnishing brand Menu, shows you didn’t just grab something off the discount isle at Target – aka, you care . ($70)

For rest of our Gift Guides, including for Kiddos, Neat Freaks, Coffee Aficionados, Art Lovers, Dinner-Party Throwers, the Hostess with the Mostest, Decorators, Workaholics & Fashionistas, CLICK HERE

I’m also pinning more of my favorite gift picks HERE

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Source: apartment34.com

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Mortgages are complicated and confusing, and second mortgages are doubly complicated and confusing.

A second mortgage can be an extremely useful tool for your wealth, or it can become a financial trap.
Before you head into the world of second mortgages, there are a couple of different things you should think about.
Read on for an overview of second mortgages and advice to help you determine whether or not you should consider a second mortgage.

What Is a Second Mortgage?

A second mortgage can be a valuable borrowing vehicle in certain circumstances. Here’s how you can benefit from a second mortgage.

How a Second Mortgage Works

A second mortgage is basically a loan using your home equity as collateral. If you own your home, whether you have a mortgage attached to the property or not, you may be able to secure a second loan by liberating your equity that has built up over the years.
Generally speaking, real estate increases in value, so while a typical mortgage can stretch out for up to 30 years, the principal owed on the house steadily falls while the value of the house appreciates.
To find out how much you can possibly qualify to borrow on your home you need to find out how much equity is in your home. This is calculated by estimating the market value of the property and subtracting the payments made towards your first loan so far.
For example, if your home is currently worth $250,000 but you have a first mortgage of $160,000 outstanding on the property, you have managed to amass $90,000 in equity.
Lenders may be willing to allow you to borrow anywhere from 60% to 80% of your equity, which works out to roughly $54,000 to $72,000.
One unique kind of second mortgage is a cash-out refinance. This replaces your old mortgage with a new mortgage. With the new mortgage, it’s slightly larger than the original amount. The larger mortgage will give you a one-time cash payment.

What are Second Mortgages Used For?

As you can see a second mortgage can really represent a sizable chunk of cash, but what are they used for? Well, you can use a second mortgage for anything from funding a child’s education to making repairs on your home.
If you are going to take on additional debt, it should be for something worthwhile. A vacation, however deserved, might be better to save for slowly, than to take on the cost of a home equity loan.
Another option can be to avoid Private Mortgage Insurance.  

While Private Mortgage Insurance may not seem like a big deal, it can cost you thousands of dollars over the course of your loan.

It’s almost always worth avoiding PMI if you can,

Getting a Second Mortgage

Now that you understand how a second mortgage mortgage works, we can continue with the process. If you’ve decided that you want to take out a second mortgage on your house, we can help you with the route you should take.

Use a Good Lender

It is an unfortunate truth that there are unscrupulous people and businesses in the world. One of the best options for making sure you are getting a good rate with your mortgage company is to shop around different mortgage lenders.
This is why, we recommend using LendingTree for your second mortgage. LendingTree will shop several different lenders for home equity loan rates and allow you to screen who you apply with. 
They are also able to work with you whether you choose a separate home equity loan or decide to do a cash out refinance mortgage. You can learn more in our LendingTree review.

  • Our Rating
  • BBB Rating A-
  • Best ForMultiple Lenders
  • Loans Available Home Equity, Refi, HELOC

Steps you Can Take to Get the Best Loan

If it’s been some years since you’ve taken out a mortgage, you might want to brush up on some of the lingo that you’ve going to see.

  1. Go to the bank: The obvious first place to start is with your bank or mortgage company that holds the FIRST mortgage. More than likely they will be happy to give you a second mortgage (assuming you have a decent credit score and history with the organization). It will almost make the payments on the second mortgage easier because you already write one check to the bank for your mortgage, so you won’t forget to write a second one (hopefully).
  2. Shop around: After you’ve talked with your current bank or mortgage company, you can continue to look around with other banks and lenders. More than likely you didn’t go with the first lender you quoted with the original mortgage, so why would you go with the first on your second mortgage? Once you’ve met with several different loan offers at various established, you can sit down and decide which one works best for you. There are a few things you should consider, aside from interest rates (although it’s the most important factor), before picking out a second mortgage.
  3. Look at the loan types: Are they fixed rate or adjustable? This is going to have a huge impact on the amount of interest that you pay over the course of your loan.
  4. Look at the fine print: Are there any balloon payments attached to the loan? Be sure to look at every aspect of the mortgage before you sign any paperwork. Otherwise, you could pay thousands of dollars that you didn’t expect to pay.

Pros and Cons of a Second Mortgage

Pros of a Second Mortgage

  • Deductible: The good news about a second mortgage is that mortgage interest of up to $100,000 of the principal for married couples and $50,000 for singles is deductible on your tax return as well. Although this is meant to be a combined mortgage interest on both your mortgage loans it is still a great deduction, especially if your first mortgage is closer to the end of its life and so has a relatively small portion of interest payments left.
  • Liquidation: Another (possible) pro of taking out a second mortgage is the ability to liquidate the equity in your home. If you are on the verge of bankruptcy and you need to get access to cash to pay off high-interest loans and back taxes, taking a home equity loan might not be a bad trade.

  • Low interest: The interest payable on a home equity loan is usually lower than other types of debt because it offers the lender the security of your house. Depending on your situation, this could be an excellent way to lower the amount of debt you have and save you money on monthly interests.

Cons of a Second Mortgage

Taking out a second mortgage is not without its drawbacks.

  • Your home is collateral: For instance, you need to remember that even though the loan does provide you with the cash you want it comes at the cost of putting your house up for grabs in the event you cannot make good on the loan. While we hope it never happens to anyone, it’s not uncommon for some financial tragedy to strike and for a person to lose their house because of a second mortgage.
  • Expense: A second mortgage is also not without its costs. You have to pay for an appraisal on your house, loan origination and other legal fees associated with an ordinary loan, so although there is a lower rate of interest, there are other costs to consider. If you don’t remember from when you first got a mortgage, the house appraisal and legal fees can add up to be quite a hefty bill. While this probably isn’t going to completely change your decision on a second mortgage, you should at least calculate it into the costs beforehand.

If you’re one that has a rough relationship managing debt, I would strongly have you reconsider taking out a second mortgage to pay off debt.
You first have to fix the root of the problem which is most likely – you. A second mortgage is not the answer for everyone so think about all the factors before making your final decision.
I hear a lot of stories of people who took out a second mortgage to pay off some debts. Sure, the lower interest rate can be very attractive. Why wouldn’t you want to pay lower rates?
Getting a second mortgage to pay off credit card debt or some other consumer debt is only a temporary band-aid.

Alternatives to a Second Mortgage

Figure

For those looking for extra capital to use for things such as home improvements or debt consolidation, a Home Equity Line of Credit (HELOC) is another option.
A HELOC allows you to borrow money against the equity you have accrued in your home. For example, if you bought your home for $300,000 but it is now worth $330,000, you could borrow $30,000 to use for things such as kitchen or bathroom improvements.
Borrowing funds is always a big decision and should only be taken with great consideration. But, a HELOC can be a great alternative to a second mortgage.
For those who are interested in learning more about a HELOC, Figure ncould be a good place to start. This new company is innovating the HELOC game with AI-based approval that streamlines the application and appraisal process.

Other Alternatives

Think of the second mortgage as an emergency lifeboat in this situation. Hopefully, you never need it, but you’ll be grateful for it if you do.
If you are staring at bankruptcy but don’t want to go with a second mortgage, but still looking for a good way to lower your interest amounts, you can always go with a personal loan.
If you prefer to go the way of a personal loan rather than a second mortgage here are some ideas on where to get a personal loan that is best for you, according to Good Financial Cents.
While this might seem like a smart strategy, one thing you never do is borrow against your home to pay off credit cards. I cringe every time I hear of someone pondering that.
That is a major no-no in my book. You are much better off getting a credit card with 0% APR on balance transfers to pay off the old cards. You save tons of money and honestly, it’s normally a lot easier.

Our Experience With a Second Mortgage

We recently took the plunge and built our dream home. Along the way, we learned a lot in the building process, especially when it comes to the mortgage loan process.
Our first home was bought while I was in Iraq, so I cashed in on my veteran status used the VA home loan. With our dream home, we were short the 20% down payment that we needed to avoid PMI (Private Mortgage Insurance).
While we could have used the VA loan again (for refinancing not for first time home purchases), it was actually cheaper to do the traditional loan process and take out a second mortgage.

Second Mortgages, Friend or Foe?

Because of all the risk associated with a second mortgage, they have gained an awful reputation among homeowners, but if done carefully, they can be an excellent tool.
Just like with every other part of your finances, a second mortgage isn’t something that should be done lightly.
Spend some time looking at your financial situation and weigh your options.

Source: goodfinancialcents.com

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By Peter Anderson 2 Comments – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited August 14, 2014.

I recently asked my twitter.com followers what they spend on groceries every month. I got answers ranging anywhere $250/month for a family of two to over $600/month for a family of 4. The largest family was a family of 6 who spends $450/month on food. Our food bill for a family of two is often larger than all of these other families.

Food Is Expensive Isn’t It?

For the past few years one of our biggest weaknesses in our budget has been our food spending. Neither my wife or I likes to cook, and as a result we end up eating out several times a week. The food we do buy are the pre-packaged dinners which always costs more than if you just buy the raw meats and vegetables yourself. We like the convenience.

Just a couple of months ago we had a month where we spent over $1000 on groceries and dining out. That’s a LOT of money to spend on food. I think that was a bit of a wakeup call for me. I realized that we needed to get our food spending under control.

20 Tips To Cut Your Food Bill

Here are 20 tips we’ll be using to curb our spending on food:

  1. Eating out less: This may seem obvious, but it is our number one biggest reason we spend so much every month. We eat out several times a week, and on top of that we were eating out for lunch most days as well. When you add it up we’re wasting thousands of dollars every year! We’re not going to stop eating out all together, but we’ll have a “restaurants” budget that will limit this spending category.
  2. Buying the ingredients and making it ourselves: Instead of buying all microwave dinners and pre-packaged meals, we’re going to try to make more of our meals from scratch. Buying from scratch and making your meals instead of just heating them up can mean big savings. Lynnae at Being Frugal does this especially well, check out her post on the subject here.
  3. Not buying as much when we shop: One tendency that we’ve had in the past is to buy a ton of food when we go grocery shopping. If we think we’ll need it in the next couple weeks, we buy it. The result is that we end up having a fridge full of food that we don’t end up eating. We almost always end up throwing a bunch of old moldy food at the end of the month. It usually works better when we take several smaller trips to the store, only buying what we think we’ll need for that week.
  4. Plan your trips to the grocery store: Make sure you’re planning your trips to the grocery store, because while making smaller trips to the store can save you money on buying un-needed groceries, it can also cost you money through gas prices. Make sure you’re planning your trips to the store so that you can make multiple stops in the same trip (if you need to) and make sure to keep a list during the week so you know what you’ll need and where you’ll stop. Aimlessly driving from store to store will NOT save you money. For tips on ways to save gas money while you’re driving around, see this post.
  5. Look out for bargains: When you’re grocery shopping keep your eye out for bargains. If you find something that’s on sale, buy extra and stock up. This usually works best on canned items, pasta and things that won’t spoil. (See the tip above about buying less to save – Don’t buy 20 gallons of milk if it is on sale.)
  6. Stop drinking soda pop: Stop or cut back on drinking soda. For my wife and I just stopping the pop intake was hard/impossible, so we’ve at least cut back. Start drinking more water or buy cheaper powdered flavored drinks. You’ll feel healthier and you’ll be better hydrated.
  7. Cut back on junk food: Commercial snack foods are costly and usually unhealthy. Instead buy some veggies and dip, and eat some healthy food while you’re laying around.
  8. Buy generic in-house brands when possible: When you’re buying foods try and find generic alternatives to the brand names you usually buy. Most stores will have an in-house generic that is often just as good as the brand name, while costing quite a bit less. In some cases I actually prefer the generic!
  9. Don’t eat meat every night: Instead of making a meal with meat every night, try making some vegetarian dishes with other sources of protein like beans. It will probably be healthier, and you can save a lot of money on meat if you just make meat-free dishes a few times a week.
  10. Avoid buying snacks in vending machines or convenience stores: This is one of my weaknesses – spending on snacks at work, when I fill up gas or when I’m stopping at starbucks. Instead of buying your snacks, buy some healthy snacks and bring them with you.
  11. Use Coupons: Actually using some of the coupons we get every week in the mail is a great way to save money – we just have to remember to bring them with!
  12. Plant a garden: Supplement your food by planting a garden in your backyard. It doesn’t cost much to get one of these going, and you’ll have some nice fresh veggies to eat! Check out FrugalDad’s square foot garden to get a nice start!
  13. Make extra when you find good deals on meat – and eat the leftovers: When you’re making food, try to always cook extra, and freeze the leftovers into meal sized portions. Or if you’re really ambitious, use the “cook once, eat for a month” method that a lot of people are talking about. When you see good prices on meat, buy extra, take a day where you cook meals and then freeze meals and lunches for the next month. Saves money and time!
  14. Participate in The Grocery Game: When you play the grocery game at The Grocery Game’s site, you’ll get a weekly list of the lowest-priced products at your supermarket matched with manufacturers’ coupons and weekly specials — advertised and unadvertised. The service does cost $10 every 8 weeks, but many have found that they save far more than that by using the service.
  15. Use deals websites like MyGroceryDeals.com: MyGroceryDeals.com allows you to enter your zip code, and find deals at your local food stores, pharmacies and other retail outlets. For my zip code it comes up with about 16 different stores with 650+ deals available. Download their Grocery Savings Tips E-book here.
  16. Never shop on an empty stomach: Try not to go shopping when you’re on an empty stomach. You’ll end up buying a bunch of stuff that looks good, that you don’t really need.
  17. Shop using cash so you don’t overspend: Set up a budget and only go grocery shopping with cash. If you run out of money, put something back. When you use a credit card you’re that much more likely to spend more money on things you don’t need.
  18. Eat smaller portions: Save money by eating smaller portions, and freezing any leftovers to eat later for lunch or dinner. Most of us in this country eat too much food anyway, eating until we feel sick. Control your portions and you’ll be healthier, and you’ll spend less on food!
  19. Don’t think you have to buy two to get the discount: Often an item will be advertised for 2 for $5, or 2 for the price of 1. That makes you think you need to buy two items to get the discount. Often you can buy only one if that’s all you need. Buy just one item and save!
  20. While you’re at the store, pick up your free Redbox rental: While you’re out saving on your groceries, you may as well save on your entertainment bill as well. Many grocery stores now have a Redbox.com movie rental machine where you can get your movie rentals for just $1 a night – or less! To find out how to find free rentals at the redbox and save on your Netflix or Blockbuster membership fees, read my post on getting free redbox rentals

So those are some of the ways I plan on saving on groceries (and entertainment) this month.

What are some of your money saving tips when you shop for groceries? Leave your tips in the comments below!

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Source: biblemoneymatters.com

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Last Updated on February 25, 2022 by Mark Ferguson

Finding a great rental property can be tough. In many markets, prices are increasing and being able to make money on a single-family house or multifamily building is difficult. One option is to buy the cheapest homes you can in your area and make them a rental. You can also buy a townhouse or condo and turn into a rental property since they are typically less expensive than a single-family detached home.

I think a townhouse or condo can be great investments, but you must look at the numbers closely. There are many costs associated with condos like HOA fees. The appreciation also may not be as much on condos and there are some very scary issues that can cause a great condo or townhouse investment to become a nightmare.

Why are condos and townhouses so much cheaper than houses?

Before I get into the pros and cons of condo and townhouse investments, I want to be clear on what a townhouse or condo is. A condo is a unit within a large complex of apartments or other condos. There may be units beside you, above or below you. You rarely have any yard except a shared space with other units.

A townhouse might have a small yard and may have neighbors beside the unit, but not above or below. Townhouses are typically worth more than condos because they have less connected neighbors and some land.

Both condos and townhouses are worth less than a single-family home that is otherwise similar.

How does an HOA work on a townhouse or condo?

Almost every townhouse and condo will have an HOA. The HOA takes care of the shared land in the complex and most HOAs take care of the exterior maintenance and landscaping. Many HOAs also pay for the water on a condo or townhouse and they may provide common amenities like a swimming pool, clubhouse or tennis courts. Some single-family neighborhoods have detached homes that are in an HOA as well. The HOA fees are usually much higher on a condo or townhouse because the HOA takes care of many more things. Here is a list of many things an HOA takes care of on a single-family detached home, patio home, and a condo or townhouse.

——————-Condo/Townhouse                 Patio Home               Single-Family

Common Amen.            Yes                                   Yes                           Yes

Landscaping                  Yes                                   Yes                            No

Water                              Yes                                   No                             No

Exterior maintenance  Yes                                   No                             No

Exterior Insurance        Yes                                  No                             No

Clubhouse/pool             Yes                                  Maybe                      Maybe

Trash/snow removal     Yes                                 Maybe                      No

If you are wondering what a patio home is, that is usually a single-family detached home that has an HOA that maintains the lawn. The condo and townhouses have much more involved HOAs, which makes them much more expensive.

In my area in Northern Colorado, I see HOA fees for most single-family detached homes $400 or less a year (if they have an HOA). HOAs on condos or townhouses can are usually at least $100 a month and in some cases $400 a month. HOA fees can be even higher in larger cities with complexes that have security and many more amenities. Only one of my rental properties has an HOA and it is $300 a year.

Is it a bad thing to have an HOA on a rental property?

I have no problem with having an HOA on one of my rentals. The HOA takes care of the common amenities in the neighborhood and I have never had a problem with them. The only other job of this HOA is to make sure all the homes in the neighborhood are in compliance with the rules and regulations of the HOA. Many HOAs don’t allow work trucks to be parked outside, or excessive junk to be stored in the yard. For many people, this is a good thing and for others a bad thing. As a landlord, I think of it as another set of eyes on the property and I think it is a good thing to know if the tenants have junk everywhere or are not mowing the yard.

I don’t think having a small HOA with few responsibilities is a bad thing. A larger HOA will provide many benefits as well. Even though a larger HOA will be more expensive, it will lower many costs for a landlord. The HOA will pay for exterior insurance and maintenance, which will reduce the landlord’s expenses. The HOA will handle yard maintenance and snow removal, which can lower the landlord’s expenses as well. In my case, I invest in single-family homes and I have the tenants take care of the lawn and pay all utilities themselves so that does not save me much money.

HOA special assessments

The problem with a large HOA is they can create special assessments if they need more money for any major repairs or financial problems. I know of a couple of landlords who had their HOA fees increase greatly in a one-year span because the HOA had to repaint the exterior of the entire complex. The HOA fees went from just over $100 a month to $200 a month for every condo in the complex. Another HOA imposed a $30,000 special assessment on every single condo in a complex to pay for improvements. This particular landlord was planning on flipping the condo and all his profit disappeared with this assessment.

The HOA cannot impose a special assessment or raise the HOA fees without agreement from the HOA members, but in many cases, the members don’t show up to HOA meetings to oppose the changes. If you are buying a condo or a townhouse that has a fixed HOA fee, that does not mean it cannot be raised or a special assessment is levied upon the property.

Will the HOA allow rental properties?

Another problem that can come up with HOAs and rental properties is that some HOAs may not allow rental properties! My office recently had a home listed that was in an HOA and the HOA decided they would no longer allow rentals. The property was used as a rental property so the owners decided to sell it. Then the tenants decided to stop paying due to covid and it was a nightmare for the owners.

Be aware that HOAs can decide to ban rentals although it is rare.

Will condos or townhouses appreciate as much as detached homes?

Another factor to consider when buying a condo or a townhouse is the value of the property. Condos and townhouses are cheaper than detached homes because they are cheaper to build and demand is higher for single-family homes. You also own more land and have lower HOA fees with a single-family house. When you have an HOA fee that also reduces how much a borrower can qualify for when they get a loan. Usually, the condos and townhouses with the highest HOA fees will be worth less than similar condos or townhouses with lower HOA fees, because more buyers can afford them. A $100/month HOA fee could reduce the amount a buyer can qualify for by as much as $20,000.

I don’t invest for appreciation, I invest for cash flow when I buy rental properties. That does not mean I do not consider possible appreciation or depreciation on the properties I buy. There are some people who prefer a condo to a detached home, but most people want a detached house. In my area condos are the first to start losing value in a down market and the last to increase in value in an appreciating market. While condos and townhouses can appreciate and often do, single-family detached homes tend to appreciate more. It is the land that is causing the appreciation and detached homes have much more valuable land.

How can FHA rules affect condo prices?

FHA will loan on condos and townhouses, but they have very strict rules. FHA will not allow a buyer to use an FHA loan to purchase a condo in a complex if there are too many investors in that complex. If there are more than 50 percent investors in a particular complex FHA won’t lend to anyone in that complex. FHA is a very popular loan and it can greatly decrease values in a complex if the units cannot be sold using FHA. Here are some more requirements for FHA loans being used on condos. Even though conventional loans do not have to abide by FHA rules, some banks will also have guidelines similar to FHA to lend on a condo.

Is it smart to buy a condo or townhouse for a rental property?

As you can see there are many factors you must consider when investing in a condo or a townhouse. The number one factor should be cash flow and how much money you will make. You have to remember to factor in the HOA fees and the possibility that they may increase in the future. If you buy a condo in a complex that is older and will need work soon, you may see a huge increase in HOA fees or a special assessment. If many investors decide to buy units in a complex it could greatly lower the value of every unit due to FHA rules and don’t expect as much appreciation.

I think you can make money with condos, but given similar returns between a condo or townhouse and a single-family detached home, I will take the detached home every time.

My book, Build a Rental Property Empire, goes over my personal rental property strategy in depth. It covers how to find deals, finance rentals, manage them, and much more! It is available as a paperback and ebook on Amazon or as an audiobook on Audible.

Build a Rental Property Empire

Categories Rental Properties

Source: investfourmore.com

Apache is functioning normally

By Peter Anderson Leave a Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited May 17, 2013.

My wife and I just spent some time in San Francisco this past week. I was there for work during the week, and then my wife joined me there on the weekend.

We had a wonderful week doing the tourist thing, visiting all the well known San Francisco landmarks from Ghirardelli Square and Fisherman’s Wharf to the Golden Gate Bridge.

The picture below is a panorama composite of 3 photos showing the famous “Postcard Row” houses on Alamo Square.

Neither one of us had ever been to San Francisco, and we weren’t sure what to expect. We were pleasantly surprised, and we found it to be a beautiful city, with tons of things to do, great food, and very friendly people.

The weather was picture perfect, in the 60s and sunny all week. From talking to some folks who live there, this kind of weather is pretty much the norm here. For us Minnesotans who are used to the single digit temperatures in February, it was a virtual heat wave.

Traveling To San Francisco Can Be Expensive

We do have one confession to make – we spent way too much on eating out while we were there. San Francisco is an expensive city – and if you’re not careful you can find you’ve spent yourself into the poorhouse. Luckily we had budgeted for this vacation so we didn’t break the bank, but beware!

If you’re thinking of taking a vacation in San Francisco, don’t hesitate – just book it. It is one of America’s great cities, and you won’t regret a moment you spend there.

Money Saving Tips In San Francisco

If you do go to San Fran, here are a few tips to save some money on your vacation:

  • Avoid the rental car: If you can, avoid getting a rental car because parking can cost an arm and a leg in San Fran. If you’re planning on traveling outside of the city proper, you may need to get a rental car, but don’t forget to find and stack discounts on your rental!
  • Buy a transit card pass: Buy a Muni transit card pass to get discounted public transport rides while you visit.
  • Plan your trip in advance: Make sure to plan your trip in advance to find the best deals on your airfare and hotel. Use tools like the Bing airfare predictor to figure out the best time to purchase your airfare. Use online aggregators to find a discounted hotel deal.

  • Stay outside of downtown for a more affordable hotel: Hotel prices in San Fran can be extremely pricey. To find a better deal look outside of the central downtown area. Also make sure to search aggregators like Priceline, Hotwire and others.
  • Eat more fancy lunches than dinners: Want to eat at a fancy restaurant? Try having lunch there instead of dinner. It’s often quite a bit less expensive.
  • Make sure to visit free attractions: There are a lot of things you can do for free in San Francisco, including visiting Chinatown, Fisherman’s Wharf, the Golden Gate Bridge and Golden Gate Park. It’s a beautiful city and sometimes it can be a lot of fun just to stroll through an eclectic neighborhood and people watch!
  • Get discounted attraction tickets: If you buy multiple attraction tickets you can often get a big discount. Not only that, but some attractions like Alcatraz have several companies doing boat tours to the island. Make sure to shop around before you leave to find the best deal.
  • Enjoy!

There are a ton of ways to save while you’re on vacation. Just make sure to plan ahead, shop around and take advantage of money saving tips and tricks to have a frugal and under budget vacation!

Related Posts

Source: biblemoneymatters.com

Apache is functioning normally

Whether you’re thinking about selling your home or buying a new home, take a week this January to clear your clutter. Why? It will save you time, energy, and money when you sell or move. You won’t have to spend your time packing things and paying to move things that you no longer even want. Not to mention, a clean clear home is an invitation to any buyer to picture their own stuff inside.

Put it in your calendar

You might not look forward to clutter clearing like you look forward to a spa day, but if you can get in your calendar, the likelihood of you actually doing it goes way up.  Small projects can be done in 1–2 hours, medium-size projects need 2–4 hours, and large projects take a full day or a weekend.

Choose a small starter project

Small projects (1–2 hrs) Medium projects (2–4 hrs) Large projects (full day)
Junk Drawer Kitchen drawers Garage
Kitchen countertop Master closet Kitchen pantry
Linen closet Filing cabinet Storage areas
Coat closet Bathroom cabinets Office

Start with a small project your first day and use The ART of Letting Go e-book, a simple process for releasing unwanted items that are difficult to organize. The ART of letting go, by Clear & Simple organizer Marla Dee, will give you tested tools to help you move through small, medium, and large projects, as well as a list of favorite resources. For more help, consider The ART of Letting Go e-course.

Set up an organizing staging area

Set up a staging area in each room by clearing other items out of that area. This lets you start each project with a clean, open area. And that makes the whole process emotionally lighter and easier.

Donate

Not everything is meant for the trash. Some items have lasting value, even if you no longer need them in your life. Choose an agency you care about and want to support. This will make letting go easier. In fact, we encourage you to sort into three piles: trash, recycle, and donate).

Have fun

Get together with friends or family, put on music, get in comfy clothes, have snacks handy. It can be fun and freeing to let it all go (figuratively speaking, of course).

Hush your inner perfectionist

Be realistic and let go of perfection.  If you clear even one layer of your clutter you will still have less to deal with. You will find that once you get started you will be inspired to do another area.

Get help for the hard stuff

We all have things that are “loaded” for us. It could be your dad’s book collection, your mother’s china collection, or your grown children’s things. Get neutral or professional help for the loaded areas. Don’t try to tackle these on your own. Marla Dee, a professional organizer for over 18 years, says that clients always think they will have more time later to deal with their clutter. “If I could just take a month (or year) off the rest of life I could deal with this clutter.” That time never comes.

Ready, set, start. And know that everything you clear before you move is saving you time, energy, and money during and after your move. And chances are good that a clear, organized space will bring a higher offer than a cluttered, messy one.

Source: homie.com

Apache is functioning normally

Turn your apartment into Santa’s workshop to provide proof that Santa is real this holiday season. Here’s how.

The ho-ho-holidays are here and it’s time to start making a list and checking it twice. The little ones are anxiously awaiting Santa’s arrival to see if they made the naughty or nice list and parents want to keep that magic alive and prove that Santa is real.

So, how do you make your kids believe that Santa did in fact make a special trip from the North Pole to your apartment? From special wrapping paper to reindeer tracks, we’ve prepared a (nice) list of ways for you to prove that Saint Nick and his elves are real.

How to make it look like Santa visited your apartment with 11 easy hacks

The lore of Santa Claus is one of the most beloved Christmas traditions. It’s more than just the gifts he leaves behind; it’s the anticipation and the magic of believing he is real. Caregivers and parents alike can use a few pro hacks to bring remnants of Santa’s workshop to the apartment.

1. Eat the cookies

It might be the oldest trick in the book, but it’s crucial that you have the kids leave out a plate of Santa’s favorite cookies on Christmas Eve and then leave an empty cookie plate behind come Christmas morning.

If you have kids that are skeptical, consider leaving out cookies you dislike and would never eat. When the cookie plate has been licked clean, the kids may believe that it was indeed St. Nicholas as you would never eat a sugar cookie with extra frosting and sprinkles.

2. Coordinate with your apartment neighbors to leave clues around the complex

When you live in an apartment, you might not have full access to a yard to leave proof of Santa outside. However, you can coordinate with other parents or neighbors on your floor or in your building to leave undeniable proof that Santa is real.

For example, you work together to leave a trail of Santa’s footprints down the hall. Or, you could all go to the common outdoor area and plot to make it look like the reindeer watched over the sleigh in the night.

Regardless of what you do, coordinating with other neighbors in the apartment is a fun way to extend the pretense that Santa is real.

3. Make Santa’s footprints

If you have a fireplace or chimney in your apartment, you can make fake Santa footprints and leave them near the fireplace and Christmas tree. If you don’t live in a place with a fireplace, don’t sweat it! You can leave footprints close to the Christmas tree and presents or even get extra festive and leave a trail from one door to the next in the hallway to show that he visited everyone in the building.

All you need to do is take some flour or powdered sugar, dip a large shoe in it and pat it down like footprints up and down the hallway. Your children will know that mom and dad never have messy feet or shoes in the house so it’s obviously Father Christmas leaving snowy footprints behind.

4. Sprinkle red glitter outside

We all know that Rudolph guided the sleigh that snowy night, so it’s fun to leave a little proof of that special reindeer’s visit. Take some red glitter and sprinkle it outside in spots where the reindeer sleigh was parked. You can take your kids outside and show them the remnants of Rudolph’s red nose.

5. Make sled tracks in the snow

If you live in a city where you’ll have a white Christmas, you can leave sleigh tracks in the snow as proof that Santa is real. Take a 2×4 and drag it through the snow to make it appear as if the sleigh touched down, parked for a bit and then took off again. When you live in an apartment, you’ll want to do this magic trick in a common area and explain to the kids that he parked here so he could deliver the gifts to all of the children in the building.

6. Feed the reindeer

We leave out cookies and milk for Saint Nick, but the reindeer get hungry, too. On Christmas Eve, leave out a box of carrots or celery for the reindeer. When the kiddos are fast asleep, chomp up and split out some veggie remnants so it looks as if the flying creatures had a midnight snack. This is another hack that’s great to coordinate with other apartment caregivers.

7. Send a note from Santa himself

All of the children write and send Santa a letter with their wish lists, but how often does Santa respond? In the weeks leading up to Christmas Day itself, get a holiday postcard and mail it to your own house addressed to your children. Have a friend or neighbor write the note so it’s different handwriting and have the postcard say that Santa received the wishlist and he and his elves are busy making the presents. This can be a fine way to go the extra mile and build anticipation for Christmas Day.

8. Play “Elf on the Shelf”

Leading up to Christmas Day, you can participate in the fun game of Elf on the Shelf. The pesky little creature from the North Pole can leave little treats around your apartment in the 12 days leading up to Christmas. Your kids will love searching for and finding that tricky elf each day counting down to Christmas.

9. Jingle bells on Christmas Eve

If you’ve ever seen The Polar Express, you know that the sound of bells is significant. When your children are tucked into bed and dozing off, ask a neighbor to jingle some bells near the window or door that the children can hear. The children will see that both parents are in the house and have a clear picture in their heads of the sleigh landing nearby and Mr. Claus eagerly waiting to place the presents under the tree.

10. Use Santa’s special wrapping paper

At Santa’s workshop, there is a special wrapping paper, of course. When you’re leaving gifts for your kids, make sure to use different wrapping paper and hide the remnants of Santa’s wrapping paper. You can wrap all of the gifts from you in one kind and from Santa in another. And for kids who are scrutinous of everything, make sure you sign gifts from Santa in very different handwriting so the sleuths won’t figure it out.

11. Catch Santa in the act

Last but not least — maybe most extravagant — is to actually catch Santa in the act. This trick requires a lot of careful planning and support, but it can be exciting if you do it just right.

You can use apps like Capture the Magic or I Caught Santa or do it yourself, but the point is to have someone dress up as Santa and have your children actually see him in the act of leaving presents under the Christmas tree. How can you deny Santa’s existence when you see him with your own two eyes? Have the kids snap a picture, too, as proof that Santa is real.

Did Santa Claus visit your home before returning to the North Pole?

Most children want to believe that Santa is real for as long as possible. And parents love to see the magic of Christmas come alive on Christmas morning. Whether you try one or all of these hacks to provide proof that Santa is real, you’re bound to have a magical experience on Christmas morning as your kids are busy checking out what the elves made for them this year. Cheers to another happy holiday season!

Source: rent.com

Apache is functioning normally

Ask Metafilter is one of my favorite sites on the internet; I’ve been an active member there for years. It’s a great place to get advice on many subjects, including money. And careers. Recently a user named Entropic asked a question about “finding your passion”, which received an awesome reply from my pal Grumblebee. Here, with permission (and a tiny bit of editing), is that Ask Metafilter exchange.

Entropic
How did you find your passion?

How have you figured out what your passion(s) is/are in life, and how have you translated that into a successful career involving your passion(s)? I am intentionally not including details about myself and my situation because I don’t really want specific suggestions about what might be good career directions for myself or what interesting areas I might pursue. I’m looking more for concrete examples of what steps you’ve taken to find out what drives you, and how you were able to make a career out of that.

Grumblebee
Is there a difference between “discover your passion” and “discover what you want to do”?

I ask because I hear people talk about their Passion (with a capital P), as if everyone has one whether they know it or not. As if it’s a special glowing ball inside each of us. Yet I see no evidence that this ball necessarily exists.

Defining passion
To me, it’s more likely that we have things we like and things we dislike. A like becomes a passion when it repeats with regularity. For instance, I like peaches, but I don’t constantly crave them. So I wouldn’t call peaches a passion. On the other hand, whenever I see a book, I want to read it. I like reading… I like reading… I like reading… So I’d call reading a passion.

Is there anything like this for you, even if it’s something “stupid” (e.g. watching TV or eating poptarts)? If so, that’s a passion for you. If it repeats with great rapidity (and if the urge is very strong), then it’s an obsession. (I can’t keep my hands off my iPod. I think about it all the time. If I lose it, I panic.)

You don’t get to choose your passions. Since passions are just intense likings, choosing a passion would be like choosing to like eating eggplant. You either like eating eggplant or you don’t. Perhaps, if you don’t like it, you can learn to like it. But right now, you either like it or you don’t.

Finding and feeding passion
I’ve met some people who don’t seem to have any strong passions. Some admit to this. They certainly have likes and dislikes, but nothing specific crops up over and over. In fact, some people dislike anything that repeats too often (you could say such people have a passion for novelty). Other people do have passions (defined as I’ve done so, above), but they don’t think of them as such. For many people, their passion is other people: passion for their kids, passion for their families, passion for helping others in need, etc….

Many people think they’ve discovered a passion when if fact they’ve only found a surface activity that lays atop their real passion. For instance, I love working in the theatre. At the risk of sounding holier-than-thou, I believe my passion is pretty “pure.” In other words, my passion for theatre doesn’t hide a deeper passion. I love theatre because I’m fascinated by the specific mechanics of telling stories on stage. When I’m not rehearsing a play, I will choose to read a book about theatre mechanics just for fun (for another dose of my obsession).

I’ve met others like me, but I meet far more theatre people who seem to be using theatre to feed some deeper passion. (Please note that I’m not saying that there’s anything wrong with this or that I’m better than these people. I believe neither of those things. And there are plenty of other activities — just not theatre — that I use as tools to feed deeper passions.)

Such people may be into theatre because they love attention and praise; they may love belonging to an open-minded group (many “misfits” find their way into theatre in high school and stay because they love belonging to such an accepting culture); they may even be operating on autopilot, doing theatre because for whatever reason, they got into it when they were younger and it never occurs to them to quit. (They probably enjoy having mastered something.)

Digging deeper
I think it’s useful to delve into your psychology and ask yourself why you like what you like. Sometimes (as with me and theatre), the answer might be “because I simply love the activity.”

How do you know if this is true? Try mentally removing orbiting aspects of the activity: Would I still want to direct plays if no one saw them? Would I still want to direct plays if I could only work with bad actors? Would I still want to direct plays if I hated the results? Would I still want to direct plays if I always got bad reviews? etc. For me, though I wouldn’t enjoy the activity as much in these cases, I’d still want to do it.

This is useful because if you learn what your true passion is (the underlying one, if there is one), you may be able to change your life for the better. You may be able to say, “Wow! It’s not theatre I like, it’s collaboration! Maybe I instead of continuing in theatre, I should look into all sorts of collaborative activities and get into the one that’s the most collaborative.”

Such psychological delving may also help you deal with a crisis: “Oh no! I’ve lost my voice. I can’t act anymore. Wait a minute: it’s not specifically theatre that I like, it’s storytelling! I could write a novel.”

There’s also nothing wrong (and a lot right) with realizing, “I love attention and praise, so theatre is a great activity for me.” In all of these cases, you’ll have learned something about yourself.

Turning passion into a career
Once you know your passion, you will be tempted to ask — as you did — “How can I turn this into a career?” I think that’s the wrong question. I don’t think it’s totally wrong. I just think it’s too specific. Instead, I recommend you ask yourself this: “How can I best arrange my life so that I can spend the most time engaging in my passion in its purest possible form and derive the least amount of pain doing non-passion activities?”

I am a director, but I’m not a working (as in “paid”) director. To pay my rent, I have a “day job.” I could work as a director, but I’d have to direct plays that I don’t want to direct. For some people, that would be fine. For me, it’s not a good trade off. I’ll be more happy with the day job and the ability to direct whatever I want — forgoing pay. It took me a while to come up with that “formula,” and it’s a personal one. Mine won’t necessarily work for you.

(If you realize you’re like me, find the least painful day job you can, getting yourself training if you have to. I actually like my day job. And I continually work to make it better and more interesting. The cliché of waiting tables to support your passion isn’t a necessity. If you commit to the idea of having a day job — I’ll likely have one for the rest of my life — it behooves you to make it a good one. Or at least the least painful one you can find.)

I see a lot of people working really hard to make their passion into a job, and — tragically — when they finally make it happen, they don’t enjoy the passion any more. (E.g. a lot of working actors, who got into the business to play Shakespeare or Chekhov, spend most of their time acting in commercials.) If this happens, it’s really worthwhile to do some soul searching. Would I be happier with a day job? Am I happy doing a compromised version of my passion? If I am happy doing a compromised version of my passion, does that (perhaps) mean that what I thought was my passion wasn’t really my passion? (“Hmm. I thought I wanted to act, but in order to do theatre for a living, I’ve had to become a producer. And — hey — I like it. Maybe acting isn’t my real passion. Maybe my real passion is being a key part of a big project.”)

I am not saying there’s anything wrong with figuring out a way to do your passion for pay. Often, that’s a great way to spend most of your time doing your passion. Just make sure that if you’re doing your passion as a job, it’s really your passion that you’re doing and not a perverted version of it that will fail to make you happy.

Putting it all together
So, go through this thought process:

  1. I’ve identified my passion as X. I am now going to define X as fully as possible. For X to be X, it MUST include A and B. C is optional. It can’t include D.
  2. I’ve realized that I won’t be happy unless I’m doing X for a living.
  3. Are there any jobs that will allow me to do X as I’ve defined it? (Or that will let me gradually work towards a pure version of X?)
  4. If not, then I need to either brainstorm other ways I could be happy (compromised X? doing X as a hobby?) or resign myself to unhappiness.
  5. If so, then I need to make sure that I can live with non-X aspects of the job. (Wow! I can do full time, paid theatre, but I’d have to work with the dreaded Mr. Y!)

Finally: I’ve noticed that people (myself included) have a strong urge to classify themselves. People really want to be able to say, “I’m a director!” “I’m an engineer!” “My passion is gourmet cooking!”

There’s nothing wrong with that drive, but putting yourself in a category is not the same thing as actually being in that category. In fact, categorizing yourself — since it’s so final — is a good way to thwart any attempt to discover your actual passions. Once you say, “I’m a director,” it’s hard to think, “Wait a minute: is it actually directing that I like or some other activity that directing helps me achieve?” Which is why, at the start of this long post, I suggested you de-romanticize the whole thing and, instead, think about what you like and dislike, rather than trying to pin down your Passion.

Maybe you don’t have a Passion. Maybe you have many likes:

  • You like playing in the sun
  • You like watching movies
  • You like hanging out with friends

If so, you’ll be much happier if you arrange your life to maximize your chances to do these activities than if you expend a ton of energy categorizing yourself.

I am fortunate to have been able to turn my passion — writing — into a career. But even so, some of what Grumblebee warns against is certainly present. As much as I love to write, I have a very different relationship to it now that it’s my job than I did when I simply did it for fun.

Source: getrichslowly.org

Apache is functioning normally

When it comes to renting a garage, many consider it a luxury. Apartments with garages can actually be worth the “splurge,” and a worthwhile investment, however. Read on to learn why and how.

1. Weather protection

It is really inconvenient to scrape your car each morning in the winter. Wind can also send debris flying into your car. And time spent on de-icing can do a number on your clothes, your health and your attitude.

However, snow and ice are not the only elements that can do damage to your car. If you live in a tornado alley, hail damage or debris from a tornado could cost you your deductible. What if a tree falls on your car during a tornado? You’ll not only be shelling out your deductible amount — you’ll likely be looking for a temporary or even brand-new car. If you live in an area with extreme weather conditions, narrowing your search to apartments with garages for rent is a must.

2. Enhanced security

Typically, criminals don’t like to work hard. In order to loot a car in a garage, they would first have to break into the garage, usually more trouble than it’s worth for them. Statistics show that cars in a garage are less likely to be stolen. If your car is safely stored in the garage, it’s out of sight out of mind, along with its contents.

3. Protection from other drivers

Not everyone is a good driver, especially in the parking lot. People get distracted, and they park poorly or open their doors too quickly if they’re in a hurry. You shouldn’t have to suffer because someone else is careless.

Who’s got time to get dents and scrapes fixed? Apartments with garages eliminate that problem since your vehicle is carefully insulated from careless, inexperienced and aging drivers.

4. Shield your engine

Your engine doesn’t like extreme weather conditions. Keeping its fluid and oil warm is good for the lubrication of the engine and will ensure it runs well and doesn’t have to work so hard to warm up or cool down.

5. Cheaper insurance premium

Before you decide on a garage, ask your insurance agent how much you can save if you put your car in the garage. Renting a garage won’t feel like such a splurge if you can save some money on your insurance bill. This is especially true if you have a nice vehicle.

6. Higher car value

When you go to sell your car, you can ask (and get!) more for your vehicle, if you say it’s been garaged. Buyers love knowing that a car they’re considering hasn’t been exposed to the elements overnight.

Looking into apartments with garages for rent can save time, money and your sanity. Have a chat with your insurance agent and see how much you would save putting your car in a garage, then compare that to the rent. What may initially seem like a splurge on a tight budget can actually be a great long-term investment on many levels.

7. Convenience

In larger cities, parking can especially be a hassle. Having a garage attached to your apartment means you don’t have to search for parking on the street, especially during peak hours, saving you time and effort.

8. More preferred mode of transportation options

If you own a motorcycle or even a bicycle, a garage can provide a safe and secure place to store them, protecting them from theft and weather damage. There isn’t always allotted space for these modes of transportation, and a garage offers extra options.

9. Extra living space and storage space

A garage offers a private space that you can customize and build onto, such as adding shelves, cabinets or a workbench, to suit your specific needs. Along with decoration opportunities, this space can serve as a place for extra storage, which can be helpful for beautifying your apartment space.

10. Added guest parking

Having friends and guests over is an essential part of making an apartment feel like home. A garage can provide a dedicated parking space for guests, making it convenient for them to park their vehicles when they visit your apartment. By having a garage, you won’t have to worry about parking hassles, leaving you free to enjoy book clubs, wine nights and gatherings.

11. General peace of mind

Knowing that your vehicle is parked safely in a garage can provide peace of mind and reduce stress, with the peace of mind that your car is protected. This reassurance is priceless and allows you to focus on the things that matter most, like work, family and activities, without the added stress of worrying about your car’s safety.

An apartment with a garage can pay for itself

Apartments with garages offer a range of advantages that can greatly enhance a renter’s living experience. From convenience and security to storage options and preservation of your vehicle’s condition a garage can provide countless benefits while practically paying for itself.

When considering apartment options, it’s worth keeping in mind the many reasons to prioritize apartments with garages just like you would for other important amenities. Find your dream apartment with a garage today.