book

Apache is functioning normally

Last Updated on December 6, 2021 by Mark Ferguson

Many people want to buy investment properties because of the fantastic returns they can provide. However, many people do not have the 20 percent down payment (or more) that most banks require. There are ways to buy an investment property with little money down. The easiest way to buy an investment property with less than 20 percent down is to buy as an owner-occupant and later rent out the house, but there are many other options for investors as well. Using a line of credit, refinancing your home, house hacking, the BRRRR method, or even credit cards can provide ways to buy investment properties for less money. Seller financing is a great way to put less money down on a rental property if you can find sellers who are willing. A more advanced technique is to use hard-money financing that you can refinance into a conventional loan. Whatever way you choose to buy a rental property, research the method to make sure that it is legal in your state, your lender approves it, and that you are not stretching your finances too thin.

How much money down do most banks require?

An investor will have to put down at least 20 percent to buy a property from a typical bank. If you own more than four properties, that figure can increase to 25 percent down, providing that they are even willing to finance more than four properties. On top of the down payment, an investor will have to pay closing costs, which can range from two to four percent of the loan amount. It is very expensive to buy an investment property using financing from a typical bank. I have found a great portfolio lender who will finance as many properties as I want with 20 percent down, but they are not easy to find. Once you factor in repairs, carrying costs, down payment, and closing costs it can cost as much as $30,000 to buy a $100,000 rental property.

The video below goes over ways to buy with little money down as well:

[embedded content]

How to buy as an owner-occupant

The easiest way to buy an investment property with little money down is to buy as an owner-occupant, satisfy your loan requirements, rent out the property, and keep it as an investment. Most owner-occupant loans require the buyer to occupy the home for at least a year. Once that year is up, you can rent out the house and turn it into an investment property. There are many owner-occupied loans available, with down payments ranging from 0 to 5 percent down. You can put as much money down as you want if you want to put 20 percent down or even 50 percent down. USDA and VA have great no-money-down programs and little to no mortgage insurance, which will save an investor a lot of money each month. You will have more costs with little money down loans because mortgage insurance is required. Mortgage insurance can add hundreds of dollars to your house payment and eat away at your cash flow. The process of buying as an owner-occupant and then turning the house into an investment property is as follows:

1.  Buy a house as an owner occupant, which will cash flow when you rent it out.

2.  Move into the house and live there for at least a year.

  1.  After the year is up, find another house that will cash flow and purchase that home as an owner-occupant.

4.  Move out of the first house and keep it as a rental. Move into the new house and repeat the process every year!

Eventually, you will be building up equity and extra cash flow, which will enable you to buy properties with a 20 percent down payment. Repeating this process 10 times would be an excellent way to get started, but no one wants to move ten times in ten years. It can also be tough to convince your family to live in a home that would be a great rental.

Low down payment owner occupant loans

For more tips on real estate, check out the InvestFourMore Instagram page.

If you are going the owner-occupant route there are many loans available that have from very little to nothing down required.

FHA loan

FHA loans are government-insured loans that can be obtained with as little as 3.5 percent down. You can only have one FHA loan at a time unless you have extenuating circumstances like a job relocation. You do have to pay mortgage insurance on FHA loans, which I will discuss later in this article. There are limits to the amount an FHA mortgage can be, which varies by state and even city.

USDA loan

USDA is a loan that can be used in rural areas and small towns. The loan can’t be used in medium-sized towns or large towns/metro areas. The loan is a fantastic loan for those that qualify and want to buy a home in the designated areas. USDA loans can be had with no money down, but do have mortgage insurance as well.

VA loans

VA loans are run through the United States Veterans Administration. You have to be a veteran to qualify for the loan, but they also can be had with no money down and no mortgage insurance! VA is a great option for those that qualify because the costs are so much less without mortgage insurance.

Down payment assistance programs

Many states have down payment assistance programs. In Colorado, we have a program called CHFA. The program helps buyers get into owner-occupied homes with very little money down. CHFA actually uses an FHA loan but allows for less than a 3.5 percent down payment. Check with lenders on your state to see if you have any programs that help with down payment assistance.

Conventional mortgages

Even conventional mortgages have low down payment loans available for owner-occupants. For owner-occupants, conventional loans have down payments as low as 3 percent. You will most certainly have to pay mortgage insurance with any conventional loan that has less than 20 percent down. Unlike some of the other loan options available, you can have as many conventional mortgages in your name as you want as an owner occupant.

FHA 203K Rehab loan

An FHA 203K rehab loan allows the borrower to finance the house they are buying and repairs they would like to complete after closing. This is a great loan for homes that need work, but the buyer has limited funds to repair a home. There are more costs associated with this loan upfront because two appraisals are needed and lenders have higher fees for 203K loans.

NACA Loans

NACA is a non-profit program with:

  • No down payment
  • No closing costs
  • No points or fees
  • No credit score consideration
  • Below market 30-year and 15-year fixed-rate loans

This sounds like it is too good to be true, and it is a great program. However, you do not simply apply for the loan and hope the lender approves you. You must take classes, and even host classes when in the loan program.

More details are on the NACA site.

What loan costs does a buyer need to consider besides the down payment?

On almost any loan you will have more costs than just the down payment. The lender will charge an origination fee, appraisal fee, prepaid interest, prepaid insurance and possibly prepaid mortgage insurance. Plus you may have more costs the title company charges like a closing fee, recording fees, and possibly title insurance. In most cases, the seller pays for title insurance, but with HUD and VA foreclosures the buyer has to pay for title insurance. These costs can add up to another 3.5 percent of the mortgage amount or sometimes more. When you talk to a lender they can give you an estimate of exactly how much these costs will be before you get your loan.

Can you ask the seller to pay closing costs?

Even though the lenders and title company will charge you more fees than just the down payment, that does not mean you have to pay that upfront. You can ask the seller to pay closing costs for you. If you can get the seller to pay your closing costs for you, loans like VA and USDA may be obtained with no out-of-pocket cash. You may still have to put down an earnest money deposit, but that can be refunded at closing in some cases. When you ask the seller to pay closing costs, it reduces the amount of money they are getting from the sale so you might actually be paying more for the home than if you didn’t ask for closing costs. But in my mind paying a little more for the house and financing those costs to save cash is better than paying more money out-of-pocket for a little cheaper home.

[embedded content]

House Hacking

House hacking is when you buy as an owner-occupant but you buy a multifamily property instead of a house. By purchasing a multifamily property you can live in one unit while you rent out the other units. This strategy allows you to rent the property faster, which may mean the bank will be more willing to give you a new loan as soon as you are ready to move out. You will also have help from the other tenants to pay your mortgage. In some cases, you may be able to live for free while you own the house because the other rent covers your costs.

Virtual real estate

Yes, you can now buy virtual real estate! This is land in the metaverse that only exists digitally. Some pieces of virtual real estate have sold for millions of dollars and others can be bought for almost nothing. Here is some more information on getting started!

BRRRR Method

BRRRR stands for buy, repair, rent, refinance, and repeat. It is a great way to get into rentals with less money down. You will need to get an awesome deal to make this strategy work, but you may be able to get all of your money back. You buy a house that is an amazing deal, fix it up, rent the property, and then refinance it. Once the refinance is done you repeat over and over! The key to making this strategy work is getting an awesome deal with plenty of equity. You also need to be prepared if things do not go perfectly. Appraisals can come in low, the banks may not want to finance you, you may not get the property rented or repaired as fast as hoped, etc.

Hard money loans

Using hard money can save you a ton of cash in the short-term, but it is more expensive in the end. Fannie Mae lending guidelines, allow you to refinance a home with no seasoning period, which means you do not have to wait six months or a year after you purchase a home, to refinance at a higher value than what you bought it for. Fannie Mae guidelines base the refinance amount on a new appraisal, and they will allow a 75 percent loan-to-value ratio. Fannie Mae guidelines do not allow a cash-out refinance, but they do allow the refinance to pay off any existing loans. Many hard money lenders will allow a buyer to borrow up to 100 percent of the purchase price and to finance repairs as well.

Since Fannie Mae guidelines allow a 75 percent loan-to-value refinance, theoretically an investor could buy a home for $100,000 and get a loan with a hard money lender for $100,000 plus $30,000 in repairs for a total loan amount of $130,000. The investor could refinance the home for as much as 75 percent of a new appraisal. If the appraisal came in at $180,000, then 75 percent loan-to-value would allow a refinance of $135,000. Fannie will not allow a cash-out refinance, but the investor could refinance the full $130,000 loan amount. This strategy can be costly due to hard money fees, but it allows the investor to refinance the entire purchase price and repairs!

This strategy can also be very risky because you are depending on a high appraisal to get your money out. Most hard money loans are only one year and you must pay off the loan after that year. Refinance appraisals are not always as high as we would like them to be. Make sure you have an exit strategy if the appraisal comes in lower than you expect.

Private money loans

One legitimate way to buy real estate with no money down is to use private money. Private money is from a private investor, friend, or family member. The private investor will give you money at a certain interest rate to buy a flip or rental property. Private money rates can vary from very cheap to very expensive depending on the relationship, investment, and terms of the loan. I use private money from my sister for my fix and flips. She charges me six percent interest. It is a great way to reduce the amount of cash I have into the properties.

I have used private money to buy commercial rentals and then refinance into a long-term loan with a local bank.

Can being a real estate agent help?

There are many advantages to having your real estate license, but the biggest benefit is you can keep your commission on almost every house you buy. On a $100,000 house, your commission could be $3,000 dollars or more. Here is an article that details why it is an advantage to become a real estate agent if you are an investor. Being a real estate agent also gives me an advantage in finding and purchasing great deals. I detail how hard it is to get your real estate license here. I saved more than $270,000 a year on commissions by being a real estate agent. That does not include the money I made on deals that I got because I was an agent.

Turnkey rentals

A new trend in the US is buying turnkey rental properties that are purchased, repaired, rented, and managed by a turnkey provider. Turnkey properties are a great opportunity for investors to buy rental properties out-of-state when homes are too expensive in their area. There are turnkey providers who offer as little as 5 percent down for investors, but they tend to have very high-interest rates. Here is a great article about turnkey providers or send me a request here for turnkey providers I know of. I bought a turnkey rental in Cleveland a few years ago.

Line of credit

I have had many lines of credit in my career. I have had lines of credit against my personal house (the house I live in) and my investment properties. It is much easier to get a line of credit against your personal house and some banks will not even offer lines of credit on investment properties. A line of credit is basically a loan against a home, but you do not have to use the money all the time. If you do not need the money you can pay it back to the bank and not be charged interest on it. When you need the money again, you can borrow it very quickly as long as the line is open.

Off-market properties

Off-market properties are purchased through direct marketing or by word of mouth. Buying off-market usually means less expensive properties and in some cases, owners with flexible terms such as owner financing. Many investors wholesale off-market properties, which you can purchase with no down payment. Wholesaling is a process of buying and selling properties very quickly. The properties must be very good deals and are usually found by direct marketing for properties. Many investors make a great living by only wholesaling properties to other investors.

Seller financing

Some sellers may be willing to finance the house they are selling or finance a second loan on a home that allows a buyer to put less than 20 percent down. If your bank is willing to offer 80 percent loan-to-value, the seller may offer to loan the other 20 percent, which would amount to no money down for the buyer. The seller may also offer a number of other loan-to-value percentages to help a buyer get into a home for less than 20 percent down.

Finding seller-financed properties is the tricky part. Most sellers are not looking to finance a loan when they sell. To find seller financed listings, look for homes that have no loans against them or an MLS listing description that say seller financing is available. The seller’s terms can vary greatly depending on how desperate they are to sell and what exactly they are looking to get out of the deal. Do not expect to pay four percent interest on a seller-financed loan; they will want a premium on any money they lend. It is also harder to find great deals with seller financing, which is key to my strategy.

There are many new restrictions on financing thanks to the recent Dodd-Frank Act.

Refinance

In most areas of the country, home values are rising and interest rates are at record lows. You may be able to refinance your home and get enough money to buy an investment property. Once you are able to buy an investment property, you can refinance it in one year (sometimes less with the right bank). With rates as low as they are, if you bought the home below market value, you should be able to take out as much as you put into the house and still cash flow. I use this refinance technique all the time. Getting lenders to do a refinance is tricky when you own multiple investment properties. I use a portfolio lender who has allowed me to use a cash-out refinance on as many properties as I want.

Below is a property I refinanced:

[embedded content]

Move in ready Houses

A move-in ready property means all the repairs are completed and it is ready to rent as soon as you buy the home. There can be many advantages to buying a nice home. The biggest advantage is you do not have to pay for repairs. You also do not have to spend time waiting for repairs to be done, which saves money on mortgage payments, utilities, and other carrying costs. The downside of a move-in ready property is that it is usually more expensive and provides less cash flow than a home that needs work.

Credit cards

A few other ways to get quick cash can be very expensive and are usually reserved for people looking to do a quick flip. If you have a killer deal you cannot pass up, you may want to consider these options, but I do not recommend using them unless it is necessary. The easiest way to get quick cash is with credit cards. You can get a cash advance or pay for repairs using your credit card. If you use a credit card to finance your down payment or repairs and cannot pay it off right away, do not pay the 17 percent interest rate. Do your best to get another card that will allow a balance transfer. Many times, you can transfer all of your balance and pay little to no interest for up to a year. That may give you enough time to pay off the card and not to be stuck with a high-interest rate eating all of your profits. I also suggest using a rewards card for repairs on your investment properties. If you pay the balance off every month, this is a great way to make a little extra money.

Self-directed IRA

If you have money invested in an IRA, you are not limited to investing in stocks or mutual funds. There are special self-directed IRAs that you can use to purchase an investment property. You can use your IRA for down payments and repairs and then collect rent in the IRA.

401K

Some 401ks allow an investor to take out a loan against them. You usually have to pay back the loan relatively quickly and pay interest on the loan. You have to be very careful when borrowing from a 401k because the money you borrow is no longer earning interest or growing in your retirement fund. If you lose your job, you also may be required to pay back the loan within 60 days or pay a 10 percent penalty and income tax on the loan.

Subject to loans

With a subject to loan, you buy a house without paying off the previous owner’s mortgage. This is another tricky situation; investors must be very careful with it. Most bank mortgages are not assumable; when the homeowner sells the house, they have to pay the loan in full. The bank most likely will have a due-on-sale clause that says the loans must be paid in full, once the property transfers ownership. With subject to loans the new investor buys a house subject to an old mortgage and does not pay off the loan. There is a chance that the bank will require the loan to be paid off if they find out that the home has been sold.

Investors buy homes subject to a mortgage so that they do not have to get a new loan. It may be hard for the investor to qualify for a mortgage or they may be maxed out on being able to get new loans. If you buy a home for $80,000 that has a $75,000 mortgage in place, the investor would only need $5,000 to buy the house instead of the normal 20 percent or more.

Fannie Mae Homepath program

The Fannie Mae Homepath program on their REO properties allows investors to put only 10 percent down and allows up to 20 financed loans in one person’s name, which is also a huge bonus. It is very difficult for many investors to get loans on more than four properties.

This program has been discontinued. 

Conclusion

Rental properties can be expensive, but there are ways to purchase them with less than 20 percent down. If you are short on cash, buying properties with little money down can accelerate the purchasing schedule and increase your returns. However, you will most likely make less money on each property, because borrowing that last 20 percent can be much more expensive than the first 80 percent.

My book Build a Rental Property Empire, goes over how to buy investment properties with little money down. It also 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

Your local public library is much more than a great place for books. It can save you big bucks, help you with a career or education transition, and even hosts many activities for kids, teens, and adults.  Here are the reasons to check out the library near your apartment.

Save money by borrowing books

Books typically run $12-$25 in a retail setting and also cost a few dollars to download. However, borrowing from the library is free (as long as you turn your book in on time and don’t have to pay late fees). The local library makes it easy to find a book from whatever genre you want, and you’ll discover books you weren’t aware of. Be sure to check out their audio and e-book selection. It’s a great way to save money and read your favorite books.

Hot Tip: Many libraries have what’s called a “Friend’s Room,” where gently used books are for sale. These books have been donated by friend of the library and their sale boosts the library’s operating fund. You can find wonderful hardbound books for only a dollar or two, and magazines can even be free.

Save money by borrowing music and movies

The library has CDs in many musical genres. See if your favorite artists are there. You can borrow the CDs without having to purchase them. The same goes for movies. Borrow movies you like, and watch them without ads. You’ll have a week or two to watch and return your favorite films, including old classics which are hard to find on TV.

Save money  on magazines

Did you know that local public libraries often have magazine subscriptions to all sorts of magazines?  From fashion to sports and news to science, you can read your favorite magazines without having to pay the subscription rate to have them delivered to your apartment.

Hot tip: Magazines are typically not allowed to be checked out, but libraries place comfy reading chairs near their “periodical” section, which is where you’ll find the magazines.

Save money with free internet

Most of us do several things online, from downloading music to shopping. But having internet at home is pricey, and restaurants often shut theirs down during mealtimes, to free up tables. If you don’t want to live in a Starbucks, the library is a pleasant, clean and comfortable alternative . . . with free internet. You can either take your own computer and use their wireless code, or use a computer they have at no extra charge.

Work on your education

Libraries have a desire to help those in education. Some sites will offer GED classes and do school supply drives for those in need. Public libraries also often offers tutoring opportunities for those who need help in class. Looking to learn a foreign language? The library has you covered, and typically owns full sets of expensive language DVDs that you can borrow for free. It’s also a quiet place to study, and conference rooms can be booked for free.

Get help with research

The library is a great place to get research information for your class paper.  From science to history to old newspaper articles and historical documents, libraries can give you what you need or point you in the right direction. Larger public libraries will even have a dedicated research librarian on staff, who can find answers to tricky questions, all at no charge to you!

Looking for a job?

Job searching is tough work. It can be hard to know where to start. Many libraries have job and career resources that can help you find that dream job. Not computer savvy? The library offers resources to help you learn computer skills.

Great for kids (and grandkids!)

Your local public library does many things to get the young kids into reading. It is a lot of fun, and the library has classes especially for toddlers. They know kids that age can’t sit still for too long, so they create programs that incorporate movement with reading. For babies, some libraries even have baby yoga classes that incorporate reading and yoga. Many libraries offer online kids’ books and educational options like animated talking picture books, puzzles, music and much more.

Special Events for All Ages

Many libraries have special events for the kids and the adults. Events for kids are often during summer or school breaks. Adults can enjoy guest speakers, book signings and educational or networking opportunities. Check your library’s calendar of events. Often, they will print out a monthly calendar, which you can take home to your apartment.

Hot Tip: Placing this calendar on your refrigerator will remind you of all the free events coming up.

The local public library has so much to offer. All you need to do is be a local resident and get a library card, which is free. There’s something for everyone at the local library. It is so much more than just books it is a great service to the community.

Apache is functioning normally

Miami has it all. Sunshine, pristine beaches and apartment spas that will make you wonder why anyone would ever leave.

Known internationally as one of the most scenic and exciting cities in the world, Miami is an iconic beachside metropolis filled with iconic people. With all that prestige comes some of the most over-the-top apartment amenities you’re ever going to find. From nail salons to steam rooms to serene bathrooms, these apartments have the spa style many Miami locals are looking for.

Listed below are 10 apartments with some of the best spa-style amenities in The Magic City. Whether you’re looking for personal pampering or the opportunity to unplug, unwind and let the stress melt away, there’s an apartment on this list that has the amenities you need to properly decompress.

Source: Rent. / Flamingo Point

Good luck finding a spa and nail salon with a better view than the one at Flamingo Point. Located in Central City, Miami Beach, this 614-unit complex sets the standard for spa-style apartment amenities and is the envy of renters all throughout South Beach and the rest of southern Florida.

With an in-house nail salon that looks like something out of a magazine and a massage room with muted colors and designer lighting, there really is no comparison to what Flamingo Point can offer in terms of relaxation-focused amenities. From a deep tissue massage to trying out that new nail style taking over TikTok, the spa facilities at Flamingo Point are the perfect place to get the job done.

Source: Rent. / Blue Lagoon 7

The spa facilities at Blue Lagoon 7 go well beyond its beautiful lakeside jacuzzi. The team behind Blue Lagoon 7 designed the complex with overall health, wellness and relaxation as their guiding principles. Boasting a steam room and a sauna, dry and wet heat preferences are both respected equally at this stellar apartment spa setup.

This Flagami apartment complex also provides residents with other relaxing amenities, like outdoor hammocks right on the lakeshore, and a yoga room that is separate from the gym so you can enjoy some peace and quiet while you get a good stretch in and meditate on the events of the day.

Source: Rent. / Gables Columbus Center

When your apartment bathroom is as luxurious as the picture above, it almost eliminates the desire to go to the spa entirely. With large soaking tubs, custom cabinetry and plenty of privacy and space to do what you please without self-consciousness stepping in the way, total relaxation is always only steps away from your bed when you call Gables Columbus Center home.

The spa-like qualities at Gables Columbus Center don’t stop at the apartment restrooms, either. This Coral Gables complex also boasts a resort-style pool and multiple luxuriously adorned communal lounge areas. These places are ideal as an end-of-the-day retreat to escape the stresses of the day before you retire to your apartment for the night.

Source: Rent. / Watermarc at Biscayne Bay

In the heart of Edgewater, 28 floors up, sits the stunning spa-like pool area of Watermarc at Biscayne Bay. High enough off the street to eliminate the noise pollution that comes with city living, this elevated oasis undoubtedly puts many of the nearby upscale spas and resorts to shame.

Shaded cabanas line the crystal-clear water and provide the type of unencumbered views you often have to pay a premium to enjoy. The spa-style doesn’t stop at the pool in this apartment complex, either. The apartment bathrooms at Watermarc at Biscayne Bay are truly second to none. A serene space for residents to start and end their day, these restrooms emphasize the “rest” half of the word and provide a relaxing respite from daily stress for the people lucky enough to call this gorgeous upscale apartment complex home.

Source: Rent. / Sanctuary at Doral

Sanctuary at Doral boasts a large steam room that sets the standard for apartments. A rare amenity already, the designers of these upscale Doral apartments went all out and super-sized the steam room so residents never have to wait to maintain their overall wellness.

Renowned for their ability to improve circulation, increase immune response and ease muscle pain, the benefits of hitting the steam room regularly go far beyond sweating out the demons the previous week. Not to mention the professional massage room right next to the steam room is always there for you. This is the perfect place to work out any knots that the steam isn’t able to melt away.

Source: Rent. / Gables Ponce

Gables Ponce is a great place for relaxation-minded people to call home. Packed with the type of luxurious amenities that make a busy life easier to deal with, Gables Ponce is not just an apartment complex, it’s a community that prioritizes mental and physical well-being above all else. With a fully-equipped massage room on-site, relief is never more than a few steps away from your front door.

In addition to the well-equipped massage room, this Coral Gables apartment complex also boasts a dry sauna, steam room and a cabana-lined heated saltwater pool. This shallow pool has submerged lounge chairs and is an ideal spot to kick back and catch some rays or enjoy a book without all the wayward splashing that often comes with a communal pool.

Source: Rent. / Brickell 1st Apartments

The outdoor spa area at Brickell 1st Apartments is a serene sunkissed area that encourages unplugging and facilitates relaxation of all kinds. Whether you’re soaking away the soreness of an especially tough workout in the large hot tub, kicking back under a sunshade with a good book, or anything in between, opportunities for relaxation abound at this beautiful apartment complex.

Brickell 1st Apartments also boasts a separate stretching, bodyweight workout and meditation area complete with stability balls, designer lighting, leather loungers and hanging bubble chairs to choose from. Whether you’re stretching out the tightness that often accompanies long days behind a desk or taking a moment to clear your mind after a long week, good luck finding a better place in Brickell to unwind.

Source: Rent. / Waterways Village Apartments

One of the difficult things about living in an apartment can be the lack of a backyard. Residents of Waterways Village Apartments are lucky enough to not face that issue thanks to its stunning communal courtyard. Situated under long strands of string lights and shaded by mature palm trees, this is the perfect place to decompress at the end of a long day while soaking in the warm Aventura air.

Waterways Village Apartments also boasts a large resort-style pool, waterfront views and lounge chairs peppered throughout the property to provide all of the residents of this 180-unit property enough room to relax in peace and quiet on their own.

Source: Rent. / Avalon Bonterra

Fountains, luxurious caban-style loungers and fully grown palm trees all line the pristine pool at Avalon Bonterra, one of Hialeah’s most highly sought-after apartment complexes. Just off the pool, there’s also an outdoor lounge, complete with comfortable couches and a gas grill. Sound like a good place to unwind on a Saturday?

Beyond all that, Avalon Bonterra also boasts a private beach area complete with rope hammocks and concrete tables shaded by large traditional palapas. With all these options for relaxation right outside your door, the amenities here render the need for a spa completely obsolete.

Source: Rent. / The Atlantic Doral

Situated right next to Merlin Lake, The Atlantic Doral looks a whole lot more like a luxury resort than it does an apartment complex. The main attraction of these spa-style amenities is the jacuzzi that looks like it was imported from an Italian villa or a Spanish royal’s palace.

This Doral area apartment complex is also complete with a resort-style pool surrounded by lounge chairs and shaded by palm trees. With so many opportunities to soak up the sun and let the stress slip away, it’s easy to see that life is good when you call The Atlantic Doral home.

Kick back and relax in Miami

People don’t move to Miami to live a more stressful life. Miami is all about living life to the fullest, working hard when you have to, and enjoying the good life when you have the chance.

The apartments mentioned on this list are the best of the best when it comes to giving residents the opportunity to get a massage, enjoy a steam session or soak their problems away without leaving the apartment complex. That sounds like the Miami way if you ask us.

Featured image source: Rent. / Flamingo Point

Source: rent.com

Apache is functioning normally

Have you ever gone looking for a home to buy in an up and coming market neighborhood and noticed a home hideous enough to rival the infamous Neibolt House from Stephen King’s classic, It? You blink in disbelief, half expecting Pennywise to lunge from an untrimmed hedge at any moment. Who would want to buy that fixer upper, you may wonder? Well, you’d be surprised!

Other homes may appear gorgeous, with their fancy manicured lawns, symmetrically placed light fixtures and intact windows. But what if you took a peek inside and saw potential in this ugly duckling? What if an architectural gem was hiding beneath the chipped paint, cracked floorboards, and giant portrait of Barry Manilow on the bathroom wall? The truth is that buying a fixer upper can help you save big time … if you know what to look for. Take a look below to find out how you’ll be laughing all the way to the bank when you turn your dowdy step-sister into the Cinderella of the street.

Don’t Judge the Cover, Judge the Content

All that glitters is definitely not gold. This is especially true with staged homes, which according to the Real Estate Staging Association sells 72 percent faster than non-staged ones. Staging is basically an on-the-surface alternative to renovating where hired stagers create real live-in scenarios with exquisite furniture, artwork, and accessories. In essence, it’s a form of embellishment. But while it’s true that staging plays a fundamental role in marketing a property, not everyone is good at it. A home you might drool over with proper staging may look like an eyesore with zero or little staging.

In fact, one of the great perils of home buying is to judge a book by its cover. What if the seller chose not to hire a stager, or what if the stager was all willy-nilly and cattywampus in presenting the home in the best possible light? Just because the home wasn’t presented with all the bells and whistles, doesn’t mean it cannot be amazing with all that sweet modern furniture you just bought with the money you saved selling with Homie. It’s therefore vital to peek beneath the surface and envision what the fixer upper would look like with a bit of elbow grease and improvements.

Alternatively, if a home is impeccably staged, it does not automatically mean that you’ve discovered a great buy either. You may still need to investigate for potential red flags. Now, we’re not saying you should invest in a giant magnifying glass and deerstalker cap (although that is a mighty allurin’ look) but you do need to scratch the surface luster to see what lies beneath. Here’s a list of some vital areas to focus on before you allow yourself to be seduced by those gleaming door knobs and that “chef-grade” percolator.

Checking the Plumbing, Foundation, and Electrical Outlets

For plumbing, be sure to check the main sewer line. You wouldn’t want to experience clogging in that region if lines need repairing or replacing. Sewer clogs are a bad deal. Maybe write that down.

If you discover a damaged line and still want the ugly house, make provisions in your budget for plumbing repairs or use that as a negotiating point. You should also check for toilet leaks and the condition of the water heater tank. Remember, a geyser lasts about a decade, so take that into account when budgeting for potential replacements.

Have an electrician or property inspector check the wiring and signs of overloaded circuits. Also check the electrical outlets for any physical defects. You could check the foundation by looking for poor drainage, mold, and moisture. Be on the lookout for fissures and cracks in the foundation.

Are there vertical cracks along the walls or does the stairway have zigzag slits? Horizontal cracks on a foundation wall are a definite red flag, as well as chipping or crumbling concrete. The best way to decipher any foundation damage is to hire a professional. Don’t know where to find one? No worries, as you can hire one of our super-efficient inspectors by clicking on our service provider marketplace. Our trained inspectors will also inspect your plumbing and electrical outlets. All providers charge a service fee but it’s well worth the investment.

Checking Location, Noise Levels, Traffic, and Schools

Location is definitely a deal breaker here. If your ugly house is in an upscale neighborhood, you may have hit the jackpot, as this would increase your updated home’s value. Be careful of ‘big home envy’ though. Remember that if you buy small in an upmarket neighborhood, your Phoenix real estate fixer upper could score you more pennies when you sell.

It’s also great if the direction of your home lets you experience the full effect of the sun, as this would keep your home warmer during winter. Also check for noise levels and whether traffic volumes are tolerable. It’s always a good idea to check the crime statistics from Statista. You could also check if the area has good schools and whether you’ll be central to major arterial roads.

Buying Ugly Could Work to Your Financial Advantage

Bear in mind that because the house is freaking ugly, the owner wants to flush the whole thing out, like yesterday. They may even be over zealous in sealing the deal. Heck, even the neighbors may treat you like a celebrity, especially when the ugly duckling becomes a swan. You may even get a fancy gift basket (remember to share).

Sellers may price these homes lower than the market average and fast track negotiations so they can secure a contract sooner rather than later. They’re also more willing to accept a re-negotiated offer. Also, other buyers may turn up their noses with one glance at the fixer upper, removing all competition, and placing the seller at the sole mercy of your offer. And if your offer is good, you may include accepting credits. This will lower your closing costs. And remember, if you buy via Homie, you’ll get a credit of up to a $2,500 as part of the Buyers Agent Commission. You can use this to cover moving expenses, do some renovations, or simply plan an awesome vacation after you’re all moved in!

Did you know that most banks are stingy when it comes to financing a decrepit house? Your seller knows this, and may extend some leniency by applying for the finance themselves, and charging you interest. Eradicate the stress of not knowing whether you can afford the house, by using Homie Loans, our sister home-financing company. We’ll get you pre-qualified and pre-approved in record time, so you can negotiate with a gleam in your eye.

Make the buying process as smooth as a private jet ride when you select Homie as your agent. Our agents will help you understand all the fine detail of your buyer’s agreement contract, collaborate with your seller, relay vital information to you, and assist with any renegotiation.

Okay, So Your Diamond in the Rough May Need Some Polishing

Remember that your work does not end once you’ve signed on the dotted line. You have yet to transform your home from a diamond in the rough to a perfectly cut and gleaming rock that Liberace would have been proud to wear. If you’ve conducted a home inspection with us, you’ll be given a detailed report of the necessary repair work. Prior to settling, it’s a solid idea to include all these costs into your budget and use this as a negotiation tool to get the seller to lower the sale price. Repair work should include anything from paint work to repairs.

One advantage of buying an older house is that existing landscaping like plants and trees could bolster your curbside appeal and home value. You could even add to the aesthetic by creating new features like a fountain or some pathways. Painting, additional landscaping, and customized remodeling also gives you the chance to make the home your own. Unkempt historic homes may also have hidden architectural gems like high-profile moldings, stained glass windows, or meandering stairwells. Imagine unraveling all of that underneath tons of dust and grime? Sweet, right?

Convert Your Ugly Into a Lovely

Not all sellers are great at staging an ugly home. The seller may even feel that the ugly duckling isn’t worth the effort. This leaves a nifty little gap for an astute buyer to see that diamond in the rough.

Keep an eye out for foundation, plumbing, and electrical issues. You could use a repair budget as a negotiation tool when making your offer. Negotiations should also be pretty easy here, since the home has probably turned off all your competition. And if you use Homie agents, negotiation will be even more streamlined. Just draft your offer via our digital platform and a Homie agent will call you to review your offer. We’ll then submit your offer to a listing agent and oversee all your paperwork, from negotiation through to final sale. We make it easy!

Sign up with Homie today and you can keep up to 50% of our commission* to help make your new fixer upper like new!
 

*Subject to terms and conditions outlined in the Buyer Broker Agreement.

Source: homie.com

Apache is functioning normally


Savings

Compare rates and save on home insurance today!

As a renter, your landlord may require purchasing renters insurance as part of your contract. But even if not required, a renters policy can provide an extra layer of protection for your personal belongings, as well as financial liability if someone is hurt in your home. To make renters insurance work for you, learn how much renters insurance you need and what coverage options are available.

How much renters insurance do I need?

Experts recommend purchasing enough renters insurance to help you replace all of your personal possessions if they are stolen, lost or damaged.

A good way to figure out the value of everything you have is to create a list, or inventory, of all of your possessions and include dates of purchase, serial numbers, appraisal documents and any receipts. Use your cell phone or an app to take photos and save your inventory so that you can add to it if you make any new purchases. Include all expensive items and electronics, including computers, devices, home security systems, jewelry, instruments and any appliances you’ve purchased. Use the internet to identify what it would cost to replace those items, and then use that result to decide the minimum amount of renters insurance coverage you need.

If you have a large dog or a specific dog breed, you may need to purchase additional liability insurance.

How much does renters insurance cost?

According to the latest data available from the Insurance Information Institute (Triple-I) the average cost of renters insurance is $174 per year, or about $15 per month.

What affects the cost of renters insurance

While the annual cost of renters insurance may be relatively low , several factors will ultimately determine how much your renters insurance policy costs. These include considerations for:

  • ZIP code
  • Credit score
  • Home inventory
  • Deductible
  • Rental size
  • Actual cash value (ACV) vs. replacement cost value (RCV)
  • Security and fire systems
  • Pets
  • Discounts

There may also be other factors that influence your rate, such as the insurer you choose and amount of liability you opt for. By considering factors such as these, you could begin receiving quotes based on your personal selections for a personalized rate.

Is renters insurance worth it?

What does renters insurance cover that makes it worth the cost? It typically includes personal liability protection to pay for attorney fees and damages or medical treatment for someone who is hurt in your rented home, apartment or condo. The liability protection will likely include no-fault medical coverage so that if someone is hurt on your premises, they can submit their medical bills and expenses to your insurance company and you can prevent a lawsuit.

Renters insurance also covers your personal possessions if they are damaged in a covered natural disaster or stolen. It may also reimburse you for items that are lost and stolen from your car or when you are away from home.

While some people may assume that their personal belongings are not worth an additional monthly cost, it may be worthwhile considering the cost of replacing those items in unplanned circumstances that cause damage. You might own a small wardrobe and a few decorative items, for instance, but a theft could cost you upwards of $1,000 for your home office set-up between your television and electronics. This and similar scenarios are why insurance experts recommend insuring your personal property. Renters insurance also generally covers additional living expenses in case you are displaced by a fire or another covered scenario that makes your rental unlivable.

How do I calculate renters insurance coverage?

Determine your desired deductible

The deductible of your renters insurance policy is that amount that you would be responsible for paying before the insurance company covers the rest of the cost. For example, if you have a $500 deductible and you filed a claim for damage from a fire, you would pay $500 towards the repair and the insurance company would pay the remaining cost. The higher the deductible, the lower your insurance premium, but make sure that it’s an amount you’d be comfortable paying out-of-pocket at any time.

Decide if you intend to purchase additional coverage

You can check whether your financial and personal possessions are sufficiently covered if you are affected by a disaster or involved in a lawsuit. If you do not think you have enough coverage on your renters insurance policy, you can also purchase an umbrella policy. This is an additional liability insurance policy that covers you when you reach the limit on your renters or auto insurance policies, and it also covers you for libel and slander.

Off-premises coverage for travelers

If you travel, it might be worth checking that you have off-premises coverage to insure possessions (such as a laptop or cell phone) that you take with you when you travel with the same coverage that you would have if you were using them at home.

Consider adding a floater

If you have expensive items or one-of-a-kind, collectible items like sports memorabilia, original artwork, antiques, expensive jewelry or furs, consider adding a floater to your renters policy. The floater adds additional coverage for more expensive items if they’re lost, damaged or stolen.

Double check your policy for additional living expense coverage

If you live in an area where there are natural disasters like fires or severe thunderstorms, it could be important that your policy includes enough insurance for Additional Living Expenses (ALE). Additional living expenses include paying for a hotel, eating at restaurants and other expenses from having to live away from your rental home while it is being repaired.

Insurers will pay the difference between your regular living expenses and your added living expenses from being displaced after a covered event, but they may only do so for a limited time. Read the fine print to make sure you have enough coverage for any anticipated future disaster. Also, consider checking that your insurance covers things like floods because not all policies cover every type of natural disaster. Flood damage is usually excluded from standard renters insurance policies, but may be purchased either through your provider or directly from the National Flood Insurance Program (NFIP).

Source: thesimpledollar.com

Apache is functioning normally

Seattle may be cold and rainy, but these apartment spas are the perfect place to escape the elements in the Pacific Northwest.

When you live in a city where it rains 9.4% of the year, it’s essential to have a peaceful place to escape to that’s protected from the unpredictable elements outside. The apartments on this list stand head and shoulders above the rest of the Seattle apartment scene and provide residents with everything they need to unwind and recharge within Seattle’s best spas without leaving their buildings.

Whether you’re a practicing yogi, a busy nine-to-fiver or simply someone that enjoys the spa treatment, these apartments offer up a long list of amenities tailor-made to help you disconnect from the stresses of daily life.

Source: Rent. / Onni South Lake Union

It almost isn’t fair to call Onni South Lake Union an apartment complex. That’s because the list of amenities on offer at this Cascade complex is over the top in all the right ways. Onni South Lake Union provides residents with everything they need to unplug and unwind. The residents of this 795-unit apartment community benefit from an on-site sauna, steam room and yoga room.

That’s not to mention the indoor pool and jacuzzi that rivals that of the most exclusive spas and clubs in the country. This indoor oasis has a large pool and hot tub as well as a plunge pool. Good luck finding all that at another apartment complex.

Source: Rent. / The Ivey on Boren

Every amenity provided at The Ivey on Boren is executed to the highest degree. There’s no better example of this than the serene yoga studio. With huge windows, soaring ceilings and a mirrored wall, this proves the ideal place for stretching, self-reflecting and recharging in peace.

In addition to the stunning yoga studio, The Ivey on Boren also boasts a dry sauna and plunge pool in addition to an elevated outdoor pool and jacuzzi. With all these amenities at your fingertips, you’d be hard-pressed to find a better place to call home in the Denny Triangle area.

Source: Rent. / Kiara

Kiara is a 461-unit apartment complex that provides the residents lucky enough to call it home with a long list of spa-like amenities. Including a sizable stretching room, a gorgeous pool and some of the most luxurious bathrooms you’re ever going to find, this place is perfect for people that want to unwind whenever they’re at home.

These luxury high-rise apartment homes in South Lake Union offer some of the most stunning views in Seattle. Imagine an unobstructed view of the Space Needle while you brush your teeth before bed. Picture getting ready in the morning while watching the city go by outside. Life at Kiara is about as close as you can get to actually moving into a five-star hotel.

Source: Rent. / Helios

Helios is a stylish high-rise apartment complex that provides residents with everything they need to relax and recharge. The expansive yoga studio boasts light-wood flooring, a mirrored wall and all the equipment required to undo the stress and tension of a long week. Whether you stretch every morning or just need a quiet place to chill every once in a while, you’ll feel at home at Helios.

This Pike Market paradise also boasts a large rooftop deck with some of the best Elliott Bay views in existence. It doesn’t matter if you’re a dedicated yogi or more of a stare-out at-the-water-and-reflect-on-life type, Helios has what you need to stay sane.

Source: Rent. / Avalon Belltown Towers

Avalon Belltown Towers has some of the most stunning common areas you could ever imagine. The property is also peppered with outdoor seating areas accompanied by fire tables to help fight off the Pacific Northwest cold.

The indoor common areas in this Belltown beauty are just as stunning as well. These spaces boast chandeliers that look like they belong on a large French estate and light fixtures that may as well have been pulled out of a modern art museum. You’ll find the common areas undeniably calming and a wonderful place to unwind after a long day before locking up your apartment for the night.

Source: Rent. / The Waverly

The luxurious amenities at The Waverly leave residents wanting for nothing. The numerous common areas throughout the complex all boast designer furniture and an undeniably cool vibe.

Beyond that, what really earns the Waverly a place on this list is the elevated bathrooms. Laid out to maximize space and comfort, the bathrooms in these upscale apartments are second to none and a great place to start and end your day.

This Cascade complex also provides a spa for the resident pups. This area has a long turfed run area so your furry friends can strut their stuff and stretch out without having to leave the complex.

Source: Rent. / Coppins Well

Another apartment complex on the list that earned its spot because of its spa-style bathrooms is Coppins Well. Built-in shelving, soaking tubs and plenty of counter space make the in-unit bathrooms at Coppins Well so calming and serene.

Beyond that, the common areas in this First Hill complex are second to none. Large windows, designer lighting and comfortable furniture are what you can expect to find in these communal meeting spots.

Whether you’re looking for a quiet corner to crack open a book or hoping to enjoy a cocktail with a neighbor, Coppins Well provides its residents with plenty of space to relax and unwind however they like.

Source: Rent. / Harbor Steps

Located in the heart of Downtown with the hustle and bustle of the big city all around, it can be tough to imagine finding a serene spot to unplug from the worries and responsibilities of the real world. That’s exactly what the yoga room at the Harbor Steps provides for residents.

This well-lit, roomy space with light-wood flooring and a mirrored wall is perfect for dedicated practicing yogis, novice stretchers or anyone looking for a little peace and quiet outside of their apartment unit.

Source: Rent. / Met Tower

With an indoor spa and pool, it’s easy to see why Met Tower is on the list. Let’s be honest, it looks more like a spa where’d you have to pay triple digits just to enjoy a session than it does a common area in an apartment. These upscale Denny Triangle apartments are all about letting residents live the good life and it’s easy to see from their elevated amenities package.

Met Tower also has a private resident library complete with floor-to-ceiling shelves, leather couches and large windows. There may not be a better place in all of Seattle to kick back with a good book than this stunning study.

Source: Rent. / Westlake Steps

Located on the shores of Lake Union in the scenic Westlake neighborhood, Westlake Steps is an undeniably comfortable place to call home. Many of the apartments feature oversized bathrooms with large countertops, soaking tubs and ample lighting. The ideal place to decompress while you complete your before-bed routine, here you can let the stress of the day slip away before you head to sleep.

Westlake Steps also has a sprawling green area on the roof with space for yard games and sitting areas with loungers and more. Regardless of your preferred method of recharging, you’ll find what you’re looking for at Westlake Steps.

Indulge in the best spas in Seattle

Few cities call for the need for spa-style amenities more than Seattle. With cold weather and constant rain, not much matters more than the amenity package provided by the place you call home. Sign a lease at one of these legendary spa-style apartments today and enjoy the good life in all its glory.

Featured Image Source: Rent. / Onni South Lake Union

Source: rent.com

Apache is functioning normally

Books are a great way to add texture and personality to any room, but they don’t just have to sit on a shelf.

I love the look of books – or in this case – magazines, stacked on the floor. They allow you to add some additional height and interest to your space. Think of them as your own mini still-life art installation – one that you can change all the time.

But I’m particularly smitten with the idea of belting your collection. It makes the stack feel organized and very intentional. This would be the perfect solution for my collection of Kinfolk magazines. I’ve actually done this before with my magazine collection in my old Apt34 studio (you can see it here), but this stack is held together with an actual book belt! I didn’t even know there was such a thing, but I should have guessed. I’m so getting one of these to display some books in our house.

What do you think? Are you into the belted book look?!

For our Idea to Steal archive, CLICK HERE

images via badlands blog 

%%youtubomatic_0_0%%

Source: apartment34.com

Apache is functioning normally

Your monthly car payment might be your biggest automotive expense, but it’s not the only one. Insurance, repairs and fuel can add up to hundreds of dollars per month, depending on your situation. These ownership costs are sticky — you’ll keep paying them even after you make your last car payment, or if you buy your car with cash.

Car prices

The average sale price for an electric car was $58,385 in February 2023, according to Kelley Blue Book. That’s about $13,000 more expensive than the average gas-powered, new non-luxury vehicle.

Lower-cost EV options do exist: There are a couple available with a range of at least 200 miles for less than $30,000 and a few more for less than $40,000. EV tax credits can bring your total costs down — if you and your car qualify. These tax credits even apply to used EVs that meet similar qualifications.

If you plan to purchase your EV with financing, check whether you qualify with lenders who offer loans tailored for EVs. These loans can come with rate discounts and additional features, like financing for a home charger, though an applicant may find a better rate elsewhere.

Charging costs

Most people can probably save money on fuel costs compared to gas-powered vehicles. To maximize your savings, you should:

  • Charge at home instead of at a public charging station.

  • Check the rate schedule from your electric company and charge only at off-peak hours.

  • See whether a place you shop or your workplace offers free or discounted charging options.

For example, adding 200 miles of range to a Tesla Model 3 costs $7.50 using the charger that comes with the vehicle, assuming the national average of 15 cents per kilowatt-hour for residential locations. The ultimate cost to charge your EV depends on factors including the type of car you drive and your electric rates.

At-home charging

Unless you have access to free charging, the cheapest charge you’ll find is at home. You can plug into a regular outlet using a Level 1 charger, but that only adds about 5 miles of range per hour. Plus, you’ll probably be plugged in constantly when you’re home, which means charging during peak rates.

The U.S. Department of Energy says installing a Level 2 charger at home can cost between $2,000 and $5,000. Your total could be lower if, for example, your home’s electric panel doesn’t need upgrading and if access to your changing location is straightforward. State and local incentives can also bring this figure down.

In some cases, new cars come with Level 2 chargers included, and some even include free installation.

Public chargers

If you’re traveling long distances, you’ll almost certainly want to use a public charger. Charging from almost empty to full can take eight hours at home. With a Level 3/DC fast charger at a charging station — the fastest EV charger — it could take 30 minutes.

That’s still much slower than filling up with gas, however. Using that time to eat a meal, for example, is one way to avoid sitting around. But charging stations aren’t always adjacent to amenities.

🤓Nerdy Tip

When mapping a long-distance route, use an EV-specific mapping service, like EV Navigation. These services can create routes that take into account your car’s range and any amenities you’d like when you stop to charge.

Charging on the road is also more expensive than charging at home, though possibly still cheaper than gas. For example, adding 200 miles of range to a Tesla Model 3 at a price of 40 cents per kWh would cost $20.

You can also find Level 2 chargers that are available for public use. Although slower than Level 3/DC fast charging, these make up the majority of public chargers. Level 3/DC chargers tend to cluster around interstate exits. In contrast, you can find Level 2 chargers in a variety of public places, including restaurants, hotels and parking garages. It’s an easy way to add a few miles if your car is parked for a few hours anyway.

Maintenance

Electric vehicles generally have lower maintenance costs than gas-powered cars. Without an engine, there are fewer parts that can break. You can also say goodbye to oil changes, and your brakes should last longer. A 2020 Consumer Reports study estimates the average EV’s maintenance and repair costs to be 3 cents per mile driven over the course of its lifetime — half the cost of the gas-powered vehicle average. New EVs, which need less maintenance, are cheaper to maintain, at 1 cent per mile driven on average.

There are also downsides. Some EV owners report tires wear out quickly, possibly due to the battery’s weight. Some people worry about the cost of a new battery. True, it’s expensive if you need to replace it, but that worry might be overblown. Batteries are typically covered by warranty for eight years or 100,000 miles of use and will likely last much longer. The battery issue that might be more concerning is that maximum range typically declines with use, even if you follow care instructions perfectly — just like the battery on your phone.

Taxes and registration

Taxes are unavoidable for car purchases — whether gas or electric, used or new — unless you live in Alaska, Delaware, Montana, New Hampshire or Oregon.

Taxes might be familiar, but there could also be additional fees when you register the vehicle in your state. Thirty-two states now have EV-specific fees to offset reduced gas-tax revenues, according to the National Conference of State Legislatures. These fees, which are between $50 and $200, fund transportation projects, including, in some states, charging infrastructure.

Insurance for EVs might be more expensive than for gas-powered cars. Higher vehicle costs and complex equipment that lead to expensive repairs are the culprits, according to the auto insurer Progressive. State Farm’s website states that potential damage to the battery, even in otherwise minor collisions, can be costly, and there are fewer technicians trained to repair them.

Source: nerdwallet.com

Apache is functioning normally

205 Shares

I love to read.

Reading as a hobby, however, can tend to get quite expensive especially if you are constantly buying books from Amazon, Barnes and Noble or even from a local used book store. One book leads to a second, and pretty soon you’ve bought the trilogy.

There are ways that you can make reading a much less expensive past-time. Getting books from your local library, buying books online at a steep discount and borrowing books from friends are all decent options that all have their pros and cons.

As technology changes, so do a lot of the things we’ve taken for granted for so long – including even reading.

In 2004 Sony released the first e-book reader with an electronic paper or e-ink display. E-ink displays are designed to mimic the look of ordinary ink on paper, reflecting light instead of giving it off like traditional backlit displays. It is easier to read in sunlight, and because the image is stable, it doesn’t require a constant refresh like other screens. Many, including myself, believe it gives a more pleasant reading experience versus a backlit display that can tend to be harsh and hard to read in sunlight.

For some time I’ve been interested in the e-readers like the Amazon Kindle and Barnes and Noble Nook that use the e-ink technology. I decided to wait around for a few years, however, in order to let the technology mature a bit. I also wanted to make sure that the formats were standardized a bit, and that the prices would come down on the readers.

After holding off on buying an e-reader for several years, I took the leap and purchased the Amazon Kindle Keyboard.  I have also won a Kindle Fire and a Nexus 7 tablet in blog contests, and love them so far as well (although I still prefer e-ink for reading)!

Here are the Kindle versions currently available, with two prices listed where there is a version with and without special offers:

While I realize buying a Kindle isn’t cheaper than just getting all my books at the library, there are ways to find a ton of free reading material for your Kindle (or other e-reader device). Plus, if you want to go cheap you can get a Kindle for as little as $69!

Here’s a quick rundown of some sources off free reading material that have made the Kindle that much more affordable for me.

[embedded content]

Borrow Books From Others

While some of the other e-readers – notably the Nook, allowed you to borrow books that other users had purchased, up until recently Amazon didn’t allow this. Amazon has now instituted a book lending program for users of the Kindle where you can lend out books that publishers have allowed lending privileges for. Some newer titles won’t allow lending.

There are quite a few sites springing up where you can either lend your books out, or borrow one from someone else. Usually you’ll get credits to borrow books by lending your own. When you borrow a book you’ll get two weeks to read it before the rights revert back to the book’s owner. I’ve done this several times and it works quite well as I usually finish books within a week or less anyway. Some sites to check out for this:

  • Lendle.me: This site has worked the best for me for borrowing and lending books to other users. For some popular titles there can be quite a
  • BookLending.com: The site has a nice layout as well, although for whatever reason I haven’t been able to borrow from any of their users yet.
  • Amazon Prime Lending Library: Amazon Prime users will also be able to borrow books.

Get Free Books From Amazon & Other Sources

There are quite a few sources for getting free books for your Kindle, or other e-reader. It should be noted that some of the sources will show you the same public domain titles as you’ve seen on other sites, while some will show more newer titles or original books.

  • Amazon.com Top Free E-books: If you go to Amazon you can find a ton of free e-books. My favorite place to find them is via the “most popular content” page linked where you’ll see the top free and paid e-books. Amazon also has a ton of free books in the public domain. You can find them here: Amazon free public domain e-books.
  • Nook Free E-books: Tons of free e-books from Barnes and Noble – and their Nook reader as well.
  • Kobo Free E-books: Kobo as well!
  • FeedBooks.com: Feed Books includes new and public domain content.
  • Project Gutenberg: The largest source of public domain books. Many books are offered in Kindle compatible formats. On Kindle surf directly to http://m.gutenberg.org/
  • FreeKindleBooks.org: Another way to get free public domain books, although most are the same as found on Project Gutenberg.
  • ManyBooks.net: More than 29,000 eBooks for free that you can download for use on Kindle. Many the same as found on Project Gutenberg. Surf directly to http://mnybks.net on Kindle.
  • eReaderIQ.com: Offers a regularly updated list of all non-public domain freebies on Amazon.com, as well as giving emailed updates when new free titles are added, kindle versions of books you want are added, or prices drop on a book you were going to buy anyway. Great site.
  • Baen.com Library: Free Science Fiction e-books for sci-fi fans.

Borrow E-Books From Your Local Library

A lot of local libraries allow you to check out e-books. Unfortunately sometimes the formats are not compatible with Kindle (depending on the library).

Luckily you can download software and plugins that will convert the files into a Kindle compatible format, so that you can download them to your Kindle. (Many library books also have DRM, which could be problematic depending on what reader you’re using. While there are plugins for Calibre that will help you remove that DRM and convert files for Kindle, I won’t go into the DRM removal here as it’s a bit questionable.)

Amazon recently started offering native support for library lending, probably because many of their competion were already offering this. I’ve been using it with my local county library since it started earlier this year, and it works great! I just go to the library’s website, choose the book I want to check out, then download the Kindle version via Amazon. It’s then good for a 2 week lending period, at which time it expires. Easy!

Details about library lending for Kindle/Amazon can be found here: Library Lending.

Here are some software that you can use to find Library books to download both for Kindle and other devices.

  • Overdrive Media Console: Libary eBooks, audiobooks, music, & video. The software can be used on your desktop computer, as well as having versions available for iPhone, iPad, Android phones and more. Their search will also allow you to search libraries for copies of books in formats that can be converted for Kindle.
  • Calibre Ebook Management Software: This software will allow you to manage your e-library, and allows you to convert files to a format that works on Kindle before uploading it. Another great feature of the software is that it can automatically fetch news from websites or RSS feeds, format the news into a ebook and upload it to your e-reader. Sweet way to get your daily newspaper, on your e-reader!

Download Free .PDF Ebooks

Another thing I like about the Kindle is that it handles .pdf format documents out of the box. I’ve downloaded a ton of .pdf ebooks over the past couple of years, and now I’m able to open and read them on the Kindle. Before a lot of them were sitting un-read in a folder on my hard drive. Put all those ebooks to use and download them to your device!

Other Resources

There are a plethora of other resources for finding great Kindle reading material, and getting the most out of your e-reader. Here are a few of the best:

No Shortage Of Reading Material

As you can see from the list above there is no shortage of reading material for owners of the Kindle, or other e-reader devices. While you won’t always find a lot of new releases or best sellers, you’ll definitely discover a lot of good books you might never have thought to read before. You might also re-discover some of the classics since a lot of them are now public domain. Plus if you sign up for some of the sites or forums above you can also track new release free books that may only be free on Kindle for a limited time as a promotion.

I think the e-reader devices have definitely matured are now ready for prime-time. While the initial cost of the e-reader is definitely higher than buying physical books, over the long run you can still find plenty of frugal or affordable reading options, and ebook versions of books are often cheaper. For me I’m finding that the Kindle is a great way for me to enjoy one of my favorite past-times, reading.

Do you own an e-reader? What do you think of yours – and where do you go to find free or cheaper reading material? Join the discussion in the comments!

Related Posts

205 Shares

Source: biblemoneymatters.com