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Welcoming a new addition to the family is an exciting and joyous occasion, and preparing a nursery is often one of the most anticipated tasks for expectant parents. The nursery is not just a room; it’s a sanctuary where your little one will spend countless hours sleeping, playing, and growing during their formative years. Curating the perfect nursery involves thoughtful consideration of both functionality and aesthetics. Check out these nursery decor ideas from experts to see curated recommendations.

Nursery decor: Tips and tricks to test out

“A nursery should spark calm,” Taylor Clarke, mom and founder of Amborella Organics seed-bearing lollipops. “We do this with earth-toned colors, living plants, and objects like a star-shaped plush that remind us how magical this time of life is.” As we dive into other expert opinions on curating the perfect nursery, Clarke reminds us to not forget the magic of this stage of life.

Establish your vision

Before diving into decorating, take some time to envision the atmosphere you want to create. Consider themes, color schemes, and overall ambiance. When it comes to a theme or color palette, Bowy Lou recommends choosing something that resonates with you. “Whether it’s a nature-inspired theme, a classic color scheme, or a whimsical motif, this will guide your choices in furniture, decorations, and textiles,” the Bowy Lou team recommends. “Additionally, if you’re looking to save money, you might be able to keep an eye out on online reselling platforms such as Facebook Marketplace or thrift shops to begin gathering or collecting items that meet your aesthetic.”

Choose a calming color palette and utilize natural materials

Selecting the right color palette sets the tone for the entire room. “Opt for soft, neutral hues like pastel blues, greens, creams, light grays, or gentle yellows to create a calming atmosphere conducive to relaxation, sleep, and independent play,” Karri Bowen-Poole, founder and CEO of Smart Playrooms and Project Playroom recommends.

Ashley Morrisey with Western Sky Photography recommends considering your preferences when selecting a color palette. “You may have heard there are colors that make a room bright or enhance specific feelings, so it would make sense to choose those that add to the calm, soothing environment you want,” Morrisey begins, “but, it’s equally as true that choosing colors you love will help make the room a space you’ll enjoy spending lots of time in with your baby, and let’s be honest, you’ve got a lot of future diaper changes, feedings, play times, and bedtimes in this room.”

Embrace nature-inspired elements as well, to bring an element of texture to the room. “Incorporating furniture and decor made from natural materials like wood and cotton will evoke a sense of warmth and comfort while also minimizing exposure to harsh chemicals,” Bowen-Poole suggests. Consider adding potted plants or a small indoor garden to purify the air and further create a calming, nature-inspired environment.

Frankie Wallace, owner of LoveFrankieArt.com, echoes the importance of a balance between colors and natural elements. “Opt for soft, neutral colors such as taupe or soft grey, and choose patterns that are subtle and gentle, like small polka dots, stripes, or delicate floral prints. These create a serene atmosphere without overwhelming your baby’s delicate senses, and are also calming for parents too,” Wallace notes. “Nature-inspired accents like potted plants, botanical prints, or nature-themed wall decals are also great to incorporate. Nature has a calming effect and can help create a peaceful atmosphere in the nursery.”

Invest in quality furniture

Key furniture pieces like a crib, changing table, and storage units are essential for a functional nursery. “Incorporating vintage or heirloom pieces such as a solid wood dresser passed down from a relative, or one with a marble top discovered at an antique shop will have lasting design power over many store-bought dressers,” Darcy Oliver, founder of Darcy Oliver Design recommends. “The dresser can also act as a changing station for your baby, so be mindful of a size that could accommodate a changing pad.”

Convertible furniture, such as cribs that transform into toddler beds, offers long-term value and versatility. “Searching for the perfect crib may seem like a daunting task, but I recommend buying this item new or fairly new for safety reasons,” Oliver recommends.

Prioritize safety

Safety should be a top priority when designing a nursery. Ensure that furniture meets safety standards, anchor heavy items to the wall to prevent tipping, and eliminate any potential hazards such as loose cords or small objects that could pose a choking risk.

A comfortable crib mattress and soft, breathable bedding are essential for promoting safe and restful sleep. Choose bedding made from organic materials and avoid heavy blankets or pillows, as they can increase the risk of Sudden Infant Death Syndrome (SIDS).

Add personal touches

Infuse the nursery with personal touches that reflect your style and values, like name-centric decor. Name decor is also an easy way to make the room feel personalized. “Monogramming the space above your baby’s bed is a popular design concept. The monogram makes their room even more personalized and their own,” Sara from Lizz and Roo notes. “Similar to a monogram, framing their name above their bed is a great personalization to have for them to make their room their own.”

“I remember when my son was about to be born – all of a sudden I wanted to clean and organize my house and create the perfect nursery. I posted this random information on Facebook, and immediately a consensus was formed: I was “nesting,” Crystal Waddell, president of Collage and Wood shares.

“Over the years, as my company has grown, we serve mothers all over the world who want to personalize the walls for their new baby. And when I say I get it, you now know, I totally get it. Think custom lettering, themed wooden cutouts, or your baby’s name in a giant script font, these items create that perfect personalized space for your baby and help you meet your nesting needs.”

Consider sensory stimulation

Stimulate your baby’s senses with visually engaging elements like mobiles, wall decals, and textured rugs. Soft lighting, such as dimmable lamps or string lights, creates a cozy atmosphere conducive to relaxation.

Leave room to grow

Remember that your baby will grow quickly, and their needs will evolve over time. “If the nursery will eventually morph into your child’s room, having the flexibility to change the room into the next stage is key,” Sandra Gordon, owner of Baby Products Mom, notes. “That next stage could be in a year or so when your baby-turned-toddler-turned-preschooler starts to have an opinion. Ideally, for a convertible nursery, you should be able to lift anything babyish, such as artwork, out of the room.
In other words, keep babyish items off permanent surfaces, such as pink or blue walls or carpets. But if the room will be a dedicated nursery for years to come (for your next babies), go ahead and baby-ify all you want.”

Fariha Nasir, with Pennies for a Fortune, echoes the sentiment of keeping the future in mind. “Focus on sourcing high-quality pieces that will grow with the child. Same with seating – furniture that’s marketed as nursery furniture like rockers and gliders isn’t always great quality. Getting a stylish yet comfortable armchair with a separate ottoman will provide the same comfort and functionality,” Nasir shares. “That nursing chair can later be part of a reading corner for the room in the future.”

Incorporate functionality into your nursery decor

Babies come with a lot of stuff, from diapers and clothes to toys and books. Maximize storage space with bins, baskets, shelves, and closets to keep essentials organized and easily accessible. “In small spaces, floor space is a precious commodity so get things off the floor wherever you can,” Lisa Janvrin, with Janvrin and Co, suggests. “This means installing storage and lighting on the walls. There are tons of options for floating bookshelves, side tables, and plug-in wall sconces that are adorable and functional.”

In terms of nap and nighttime routines, nightlights or dimmers can also help create a soothing atmosphere when darkness is important, Kristeen Waddell notes. “Lack of lighting is everything. Invest in blackout curtains to regulate light and promote better sleep, especially during daytime naps. However, you will want a nice overhead light for play, too,” Waddell shares.

Choose soft flooring options

Opt for soft flooring materials like carpet or area rugs to provide a comfortable and safe surface for your baby to crawl and play. “A soft rug is a must-have for tummy time and a cozy place for baby to explore the world,” Caitlin De Lay notes. “Functional pieces will grow with your child and create a calming space to bring the baby home; plus, they can all double as design accents.” Choose rugs with low pile or natural fibers that are easy to clean and hypoallergenic to minimize the risk of allergies.

Design a nursing nook

“There needs to be comfortable seating for nursing a baby, with a footstool,” Medina King, creative director of MK Kids Interiors says. “This could be in the form of a stylish rocker or a comfortable armchair with a pouffe. Parents will spend a lot of time nursing and comforting babies in the early days of their lives, so it’s important to design it around the needs and comfort of the family and parents taking care of the baby.”

Lucy Bowman, with LucyJoHome.com, agrees, noting the importance of paying the nursery proper attention. “Nurseries are a place of rest and sweet memories and deserve attention,” Bowman shares. “The perfect nursery will have a comfortable and beautiful chair for parent and child to bond.”

Don’t be afraid to get creative with nursery decor ideas

Photographer, Kristal Bean, recommends adding an accent wall for a creative touch. “You’re not limited to just a different color for an accent wall — there are endless gorgeous wallpaper and large wall decal options, too,” Bean shares. “This is a simple way to customize the nursery, and you can probably get it done over a weekend. If you’ve already fallen in love with the wall color in your baby’s room, but you’re dying to add a little something extra to the space, wallpaper on the ceiling is an unforgettable touch.”

Savanna Nave, owner of SavannaBrooke.com, reminds to not forget flair and interest. “Add interest and character by either using wallpaper, a wall treatment (board & batten), patterned curtains, or a statement rug. All of these areas are a great way to incorporate color and a fun pattern,” Nave suggests. “When adding flair, stick to your style while also making the room baby-friendly and functional. If your style is boho, incorporate some of those features into the room.”

Consider soundproofing as part of your nursery decor

Minimize disruptions and create a peaceful environment for both you and your baby by soundproofing the nursery. Install heavy curtains or sound-absorbing panels to dampen outside noise, and consider using a white noise machine to mask any sudden sounds that could disturb your baby’s sleep.

Crafting a sanctuary for you and your little one

“As the parent, you will be spending a lot of time in that room with your baby”, Nina Spears, co-founder and editor-in-chief of baby chick, explains. “In the nursery, there needs to be a designated space for the baby to sleep, to feed, and to be changed. But, make a space in the room where you can rest with the baby and enjoy, too. This room should be a space that you love, it brings you joy and makes you feel calm. Your baby won’t care what it looks like, so make it functional and comfortable for you too.”

Curating and creating the perfect nursery is a labor of love that involves careful planning, creativity, and attention to detail. By following these guidelines and infusing your unique style and personality into the design, you can create a serene sanctuary where your little one can thrive and flourish. After all, there’s nothing more rewarding than seeing your baby surrounded by a space that is as beautiful and nurturing as they are.

Source: rent.com

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Bunny Williams believes she was born to design. The celebrated decorator, author and furnishings designer said she thinks some enter the world with an innate ability to distinguish what looks good and what does not. But she warned that it takes more than having an eye to be successful in design. 

“I do think we are born with an eye. All of us in this field, we see, we take in things, but it’s how we train that eye that I think is important,” she told an audience of fellow designers at the recent High Point Market in North Carolina. “When I was writing this book, I was looking back and thinking of how I got started and how important education is, and you educate yourself over and over again.” 

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That book is “Life in the Garden,” a new coffee table tome filled with photos of the lush gardens surrounding Williams’ Connecticut home. She purchased the house and grounds — which were fairly rundown and overgrown — more than 40 years ago. In the years since, she and her husband, antiques dealer John Rosselli, have brought the home and garden back to flourishing life. 

A view of Bunny Williams’ garden and house in Connecticut.

“I think one of the reasons I wanted to buy a house is I wanted a garden,” Williams said. “I was living in an apartment in New York, but I’d grown up in the country, and I wanted to get back to the country.” 

Williams was raised on a farm in Charlottesville, Va., where she rode horses and developed an appreciation not only for the land, but also stately Southern homes. 

“We lived in the country, but my mother and father both loved houses and loved gardens, and they took me constantly on tours,” she said. 

Perhaps most memorable of those tours was a trip to The Greenbrier resort in West Virginia when Williams was a teen. As she wandered the newly opened hotel, the decor and furnishings unlocked an unexpected passion for design. 

“The famous American decorator Dorothy Draper had decorated the hotel, and I went into this amazing place with these bright colors,” she said. “My family was fairly conservative, so frankly, I’d never seen anything like this in my life. And I loved every inch of it.” 

The bold use of color and variety that epitomizes Draper’s Greenbrier design scheme reoccurs in the gardens in Williams’ book. Set against the verdant greens of all manner of grasses, stately boxwoods, delicate ferns and curling ivy, the deep crimson of poppies, bubblegum pink snapdragons, golden sunflowers and purple orchids create a tapestry of color that changes with the season. 

Just as with her interiors projects and furnishings collections, Williams drew inspiration from her travels to help shape her gardens. 

Bunny Williams believes the best gardens have a variety of heights, seen here in her garden.

“John and I would go to France [and] to Italy, and we would not only go shopping, but we’d go look at gardens,” she said. “I went to gardens in Normandy. Obviously you go to Sissinghurst, the most extraordinary garden, I think, in the world. And you realize that these gardens had a plan. They were beautifully laid out. All I was interested in were the plants, but I realized that my garden needed structure.” 

Williams outlines the structure of her gardens in the book, from the primly laid out parterre garden to the wild, unfettered growth of native plants in the woodland one. And she explains that just as in an interior room, a garden needs differentiation in height and spacing. 

“And in a garden, just like in your house, you’ve got to go from one room to another. You have hallways, you have doors, there’s a flow.” 

Williams collects gardening accoutrements, storing and displaying them in outbuildings such as her greenhouse and potting shed. 

Bunny Williams collects garden accoutrements, such as old watering cans, seen here.

“I love old watering cans,” she said. “I’m always buying baskets, rakes, tools. I just think they look so beautiful. When I see wonderful terracotta pots, mossy terracotta pots, I can’t resist them. But we do use them.” 

Williams brings elements of the outdoors inside as well. Tablescapes get a lively boost from centerpieces crafted with colorful vegetables from the garden. Single sunflowers in a bud vase add interest to the mantle, and during the holidays, Williams drapes her interiors in evergreens grown specifically for decorative use. 

“Whether it’s coleus in urns or morning glories growing in a terracotta pot, all these things add so much to a garden and a property and a house,” she said. 

Along with her book, Williams introduced new designs from her Bunny Williams Home collection with Wesley Hall at High Point Market. The line includes an assortment of seating and dining options, as well as beds and accent tables, which Williams said inspired the launch of the partnership with Wesley Hall. 

“I couldn’t find enough drink tables,” she says. “I can’t stand sitting in a chair and not having a place to put my water or my bourbon or whatever. And so every time there’s a chair, I want a little table next to it. And I couldn’t find enough. So I started designing them.”

Source: wwd.com

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Before browsing properties, talking with a real estate agent, or researching market trends, the first step to homeownership is to save for a down payment. But this is also one of the more challenging and time-consuming aspects of buying a home. According to the National Association of Realtors® Profile of Home Buyers and Sellers, 38% of first-time homebuyers said saving for a down payment was the most difficult step in the home buying process. This is understandable given that the majority of buyers (54%) rely on personal savings to fund their down payment.  So if you’re a prospective buyer hoping to get into the market soon, how long does it actually take to save for a down payment? 

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To find out how long it would take for a median-income household to save for a down payment, Zoocasa analyzed single-family median home prices in 50 cities across the US and calculated what the 15% down payment would be in each. We then analyzed the median household income in each city, according to the most recent US Census Bureau data, and calculated how many years it would take to save for the 15% down payment, assuming they are saving 10% of their annual income. According to the National Association of Realtors®, in 2023 the median percent down payment for all home buyers was 15%.

You can realize your homeownership dreams the fastest in Buffalo, where it takes 4.9 years to save for a 15% down payment of $33,000. Despite having a moderate median household income of $68,014, Buffalo’s affordable single-family home price – around $170,000 below the national median price of $393,500 – helps to push the city to the top of the list. Pittsburgh and Wichita follow, both requiring 5.2 years to save for a 15% down payment of $31,530 and $31,590 respectively. 

Of the top 5 cities requiring the least amount of time to save for a down payment, those in Virginia Beach have the highest median household income at $87,544. This means Virginia Beach buyers require just 5.7 years to save for a 15% down payment of $50,250. Oklahoma City rounds out the top 5, where a 15% down payment of $37,500 and a median household income of $64,251 mean that it will take 5.8 years to save for a down payment. 

For the majority of cities, however, it will take prospective buyers more than 8 years to save for a down payment. Even in relatively affordable cities like Albuquerque and Houston, where the median single-family home price is below the national median, buyers will need to save for 8.2 years and 8.6 years respectively. This is largely because, with median household incomes hovering around $60,000 in both Albuquerque and Houston, homebuyers need more time to save compared to those in higher-earning cities like Atlanta or Austin. 

With that being said, higher incomes don’t always translate to shorter savings times if the home prices are also exceedingly high. For instance, in San Francisco, the median household income is $136,689 but the median home price is $1,386,500 – nearly 10x the annual income of a household. That means homebuyers in San Francisco will need to save for 15.2 years to be able to come up with a 15% down payment of $207,975. Homebuyers in Boston, Miami, and Los Angeles will require similarly long savings timelines of 15.1 years, 14.7 years, and 14.4 years respectively. 

But not all big cities require a long time to save for a down payment. Thanks to its high median household income of $116,068, those in Seattle only need to save for 8.2 years for a 15% down payment of $95,058. Similarly, in Chicago, it would take a median-income buyer 7.1 years to save for a 15% down payment, and in Philadelphia, it would take just 6.5 years. 

Want to discuss your options in one of these cities? Give us a call today to learn what properties are available in your budget. 

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Contact us today to speak to a Realtor in your area

Source: zoocasa.com

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Were the good old days really all that good? Sure, when mortgage rates were below 3%, it was a lot cheaper to purchase a house, but we were also in the middle of a global pandemic. 

At the start of 2021, the average rate for a 30-year fixed mortgage was 2.65%, according to data from Freddie Mac. During the homebuying boom of 2020 and 2021, the number of borrowers taking out new mortgages reached a more than two-decade high. 

Over the past two years, a combination of high mortgage rates, low housing inventory and sluggish wage growth has crippled affordability for homebuyers. 

While many are holding out for mortgage rates to fall, it’s unlikely we’ll see 2% mortgage rates any time soon. In fact, experts hope we don’t. 

A return to that kind of low-rate environment would indicate major problems in the economy, said Alex Thomas, senior research analyst at John Burns Research and Consulting.

Mortgage rates typically fall during a recession. But a recession also comes with widespread unemployment, increased debt, investment losses and overall financial instability. 

In today’s housing market, homebuyers should have realistic expectations. Experts predict mortgage rates to inch closer to 6% by the end of the year as inflation cools and the Federal Reserve starts to cut interest rates. Record-low mortgage rates aren’t in the cards again, and that’s likely for the best.

Mortgage rates change every day. Experts recommend shopping around to make sure you’re getting the lowest rate. By entering your information below, you can get a custom quote from one of CNET’s partner lenders.

About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.

How did mortgage rates drop below 3% in the first place?

Economic uncertainty and market volatility — whether during an election cycle or a pandemic — impact the direction of mortgage rates. It’s often said that bad news for the economy is good news for mortgage rates, and vice versa. 

A significant lever for mortgage rates is the federal funds rate, which the Fed keeps low when it needs to stimulate economic growth. For example, during the 2008 financial crisis, the Fed slashed that benchmark rate to zero to bolster the economy. When there were signs of recovery in 2015, the central bank started raising interest rates again, sending mortgage rates into the 4% to 5% range until 2020. 

The COVID-19 pandemic sparked another economic crisis. To incentivize people to borrow and spend money — and avoid a prolonged recession — the Fed once again cut the federal funds rate to near zero and pumped money into the economy by purchasing government bonds and mortgage-backed securities. Mortgage interest rates fell quickly, bottoming out in the mid-2% range in 2021.

But the combination of supply shocks, record-low rates and an extreme increase in money supply from government stimulus helped send prices way up, according to Erin Sykes, chief economist at NestSeekers International.

In early 2022, the Fed had a new problem on its hands: inflation.

💰 Federal Reserve monetary policy

In a recession, the Federal Reserve tries to spur economic growth through quantitative easing, a monetary policy that consists of cutting the federal funds rate to encourage lending and borrowing to consumers, and increasing its purchase of government-backed bonds and mortgage-backed securities.

If the Fed needs to slow the economy down and reduce the money supply in financial markets, it does opposite: quantitative tightening. By increasing the federal funds rate and tapering its bond-buying programs, the central bank raises the cost of borrowing money, which puts upward pressure on longer-term interest rates, like 30-year fixed mortgage rates.

What caused mortgage rates to surge again?

With prices surging in 2022, the Fed’s main tool was to adjust interest rates, making credit more expensive and disincentivizing borrowing. As a result of a string of aggressive rate hikes, the federal funds rate went from near zero to a range of 5.25% to 5.5%, where it’s remained since last summer. Average mortgage rates skyrocketed, peaking past 8% last October.

Although inflation has gone down, the Fed isn’t ready to start lowering rates just yet. The central bank would like to see evidence of a weaker economy (including consistently lower inflation and higher unemployment) before making any adjustments to its monetary policy.

📈 How the Fed impacts mortgage rates

Though the Federal Reserve doesn’t directly set mortgage rates, it controls the federal funds rate, a short-term interest rate that determines what banks charge each other to borrow money. When the federal funds rate moves up, it impacts longer-term interest rates, like 30-year fixed mortgage rates, as banks raise interest rates on home loans to keep their profit margins intact.

Why won’t mortgage rates move toward 2% again?

Economists and housing market experts agree that mortgage rates will fall over the next several years, but not below 3%. 

When mortgage rates hit their record lows just a few years ago, the federal funds rate was near zero. As the Fed starts cutting rates later this year, the plan is to do so slowly and incrementally. Barring another major economic shock, the Fed projects the federal funds rate will take only modest adjustments down. 

In the most recent policy meeting, Fed Chair Jerome Powell remarked that the federal funds rate “will not go back down to the very low levels that we saw” during the financial crisis, suggesting that the economy can adapt to a more “neutral” benchmark rate range of between 2.4% to 3.8% in the long run, i.e., less tightening, but not too much easing from the current range of 5.25% to 5.5%.

The Fed would be forced to lower rates close to zero only if there were a dramatic economic shock, such as a pandemic or recession, said Selma Hepp, chief economist at CoreLogic. In that case, if the central bank started purchasing government bonds and mortgage-backed securities again, there’s a possibility mortgage rates could return to those record lows. 

However, without such an upheaval, there’s a floor under how low mortgage rates will go, and it’s highly unlikely they’ll ever drop to their 2020-2021 levels. 

“With the Federal Reserve ending quantitative easing and stepping out of the market for mortgage-backed securities, rates will settle at a much higher level,” said Matthew Walsh, housing economist at Moody’s Analytics. 

Moody’s Analytics predicts mortgage rates will stabilize between 6% and 6.5% over the next few years. That’s high compared with the recent past, yet it’s a historically normal range for mortgage rates.

How can homebuyers adapt to higher mortgage rates?

The housing market is frustrating, but prospective homebuyers are starting to come to terms with this new reality. Following the pandemic, people are moving on with their lives, whether that’s building a family, relocating, downsizing or upgrading. 

For some households, that means making room in their budget for a monthly mortgage payment at a 6% or 7% rate. 

When you monitor mortgage rate movement, you’re usually looking at national averages determined by weekly rate information provided by lenders. While those rates give a picture of the “typical” mortgage rate, that’s not necessarily the rate you’ll get when applying for a mortgage. 

It’s possible to get a better deal on your mortgage. 

To qualify for a mortgage, most lenders require you to have a minimum credit score of 620, but lenders offer the lowest mortgage rates to consumers with excellent credit scores, around 740 and above.

You might also consider purchasing mortgage points, also known as discount points. This is an extra fee you pay upfront in exchange for a lower interest rate. Each mortgage point typically costs 1% of the purchase price of a home and will lower your mortgage rate by 0.25%.

A shorter-term loan like a 15-year or 10-year mortgage will have a lower interest rate than a 30-year fixed mortgage. Your monthly payments will be higher with a shorter-term loan because you’re paying the loan off in less time, but you’ll save big on interest. 

Buying a home is likely the biggest transaction you’ll make in your lifetime. Regardless of the market, carefully assess your needs and what you can afford. 

And don’t hold your breath for 2% mortgage rates.

Source: cnet.com

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When paying back your student loans, certain repayment strategies require a 10-day payoff letter. This is a document or statement that you can obtain through your original lender. It has the final loan amount needed to fully pay off your loan at a given time, and how to make the final payment and close the account.

Your 10-day payoff amount is typically more than just your current loan balance. For this reason, getting a 10-day loan payoff statement is the best way to find out how much you need to pay to fully satisfy the loan, including all accrued interest.

You typically need a 10-day payoff statement if you want to pay off your loan early or refinance your student loans. Here’s how to get it, what it contains, and other times when it might be required.

What Is a 10-Day Payoff for Student Loans?

Even if you understand the basics of student loans, you might not be clear on what a 10-day payoff letter is and why you would ever need one.

Used with many types of loans, a 10-day payoff statement tells you the amount you owe toward your loan in order for the loan to be closed and marked as “paid in full.”

A payoff statement is not the same thing at your current loan balance. Since interest is still charged on the loan in the days leading up to the actual payoff date, your lender will add 10 days’ worth of interest to your final payoff amount. Lenders can also calculate other time frames, like a 15- or 30-day payoff amount, if needed.

Depending on whether you have federal or private loans, your 10-day payoff letter might look visually different. Generally, it will contain your full name, student loan account number(s), outstanding balance, accrued interest, any fees, total payoff amount, a “good-through” or “good-until” date, and instructions on how to pay off your current loan.

The final payoff amount that’s listed includes interest for a 10-day period, and it might also include any unpaid fees. If your loan isn’t paid off in full by the “good-through date,” you’ll need to request another 10-day payoff from your current lender for the most accurate amount.

If after weighing the pros and cons of refinancing, you determine that a refinance will be to your advantage, you’ll likely need to get a 10-day payoff letter from your current lender or loan servicer.
💡 Quick Tip: Often, the main goal of refinancing is to lower the interest rate on your student loans — federal and/or private — by taking out one loan with a new rate to replace your existing loans. Refinancing makes sense if you qualify for a lower rate and you don’t plan to use federal repayment programs or protections.

Take control of your student loans.
Ditch student loan debt for good.

When You Need a 10-Day Payoff Letter

Here’s a look at three reasons why you might need a loan payoff letter.

•   You’re paying off your loans: If you’re able to put a chunk of money toward student loans to close out your debt ahead of schedule, you’ll need a 10-day payoff letter to get your true final amount due. That way, you’ll be able to make a final payment that fully satisfies the loan.

•   You’re refinancing your student loans: If you opt for a student loan refinance, your refinance lender will likely require a 10-day payoff letter. This informs them of how much they need to send to your current lender, and by what date, to satisfy the debt.

•   You’re buying a home: Mortgage lenders might ask to see your 10-day loan payoff amount to accurately determine your debt-to-income (DTI) ratio. Your DTI informs lenders about whether you can realistically afford taking on a home loan.

How to Request a 10-Day Payoff Letter

Despite having access to your loan details through a monthly statement or your servicer’s website, your actual 10-day payoff amount is likely different from the current amount shown on your account.

Fortunately, accessing this information is relatively easy, whether you have federal or private student loans.

For Federal Student Loans

As a federal student loan borrower, your federal student loan account was assigned to one of five federal loan servicers. To find your servicer, simply log in to your StudentAid.gov account, and go to “My Loan Servicers” from your dashboard.

Once you know who your servicer is, you can contact them to request a 10-day payoff letter.

Servicer Support Phone Number
Aidvantage 1(800) 722-1300
Edfinancial 1(855) 337-6884
ECSI 1(866) 313-3797
MOHELA 1(888) 866-4352
Nelnet 1(888) 486-4722

For Private Student Loans

To get a 10-day payoff letter for a private student loan, you’ll want to contact your current lender. Keep in mind that your private loan might have been sold to a new lender since you first accepted it.

If you’re unsure about who your lender is, you can request a copy of your credit report at annualcreditreport.com . Your credit report will list all of your past and present debt accounts, including private student loans, and the entity that owns the loan.

After identifying your lender, you can contact their borrower support phone number to get a 10-day payoff statement.

What Is the Loan Refi Timeline After a 10-day Payoff?

The way student loan refinancing works is that you take out a new loan (ideally with a lower rate and/or better terms) and use it to pay off your current student loan(s). This doesn’t happen right away, however. There is generally a 10 day pay-off process.

To make sure your new lender fully pays off your old loan (and you won’t need to make any further payments on that loan), you’ll need a 10-day payoff letter. Once you’ve obtained your 10-day payoff amount and provided the information to your new lender, you’ll want to be sure to sign your loan agreement on the same day.

Once you sign the agreement, here’s a general idea of what the 10-day refi timeline may look like:

•   Days 1 to 3: A three-day cooling-off period is required by law. During this time, your new lender cannot send your payoff check. This is just in case you change your mind about the refinance loan and exercise your right to cancel.

•   Day 4: The refinancing lender will send a payoff amount in one lump sum, either as a mailed check or electronically, to your current lender or servicer. Typically, you’ll receive a welcome packet from your new lender soon after that.

•   Day 10: Upon receiving the payoff amount in full, your current lender will mark the loan as “paid” and close it.

Your first payment on the new loan will likely be due 30 to 45 days after the date your refinance lender sent the payoff amount to your current lender.
💡 Quick Tip: Refinancing could be a great choice for working graduates who have higher-interest graduate PLUS loans, Direct Unsubsidized Loans, and/or private loans.

The Takeaway

A 10-day payoff letter tells exactly how much money you would need to pay immediately to fully satisfy your student loan debt. Refinance lenders usually require a payoff letter so they can fulfill the right payment amount on your behalf — no more, and no less, than your original lender requires to fully pay off your debt.

Knowing this final amount is also useful if you want to pay off your student loans ahead of schedule. You may also be required to submit a 10-day student loan payoff lender when you’re applying for a mortgage.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

How do I get a 10-day payoff quote?

Depending on your lender, you may be able to request a 10-day payoff letter by signing into your account online. If not, you will need to call or email your current lender or loan servicer and request a 10-day payoff statement.

Why is my payoff quote so high?

Your 10-day student loan payoff amount is typically higher than your current principal balance due to added interest. Because interest is still charged on the loan in the days leading up to the actual pay-off date, your lender will include 10 days’ worth of interest to your final payoff amount.

What is on a 10-day loan payoff?

A 10-day loan payoff letter or statement will typically include:

•   Student loan account number(s)

•   Outstanding balance

•   Accrued interest

•   Any fees

•   Total payoff amount

•   A “good-through” date

•   Instructions on how to pay off your current loan

Photo credit: iStock/andresr

SoFi Student Loan Refinance
If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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Source: sofi.com

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The following is a sponsored partnership with Kudos. Have you heard about Kudos – the free AI-powered wallet that helps you get more out of your credit cards? In this Kudos Review 2024, I’ll explain how this desktop browser extension and iPhone app helps you earn the maximum rewards and benefits when shopping online. With…

The following is a sponsored partnership with Kudos.

Have you heard about Kudos – the free AI-powered wallet that helps you get more out of your credit cards? In this Kudos Review 2024, I’ll explain how this desktop browser extension and iPhone app helps you earn the maximum rewards and benefits when shopping online. With the average Kudos member earning $750 per year, you won’t want to miss out on this game-changing tool!

With Kudos, you can always choose the best card for maximum rewards at checkout, easily autofill your card information (including CCV) with just one click, find new cards that match your shopping preferences, and more.

Plus, Kudos has helped its members earn $150 million in rewards and counting!

The best part? Kudos is completely free. That’s right—no hidden fees. Just shop like you normally do, and Kudos automatically helps you during checkout to maximize your rewards.

If you don’t want to leave money on the table, there’s no reason not to use Kudos to take the guesswork out of deciding which credit card to use for each online purchase.

Personally, I find Kudos incredibly helpful. As someone with multiple rewards credit cards, each with their own unique benefits, Kudos saves me a ton of time by instantly identifying the best card to use for each transaction. This not only simplifies my life but also helps me earn more money!

This is great so that you are using the full potential of your credit cards.

And, even if you only have one credit card, Kudos is still helpful! This is because, at many online stores, you can still double your rewards for using the Kudos browser extension and earn points to put towards free gift cards.

You can download Kudos for free by clicking here. Plus, use code “CENTS” to earn $20 back after your first eligible Boost purchase.

Key Takeaways from this Kudos Review 2024

  • Kudos is a free AI-powered wallet that maximizes your credit card rewards when you shop online, whether you’re buying groceries, clothing, travel packages, furniture, or anything else—all with a single click.
  • With Kudos, you no longer have to guess which credit card to use for each purchase. Just shop like normal and Kudos will automatically recommend the best card to make sure you always earn the highest cashback, points, or miles on every transaction.
  • Kudos supports over 2 million stores, so you’re virtually guaranteed to find your favorite retailers and maximize your rewards with them.
  • Even if your credit card doesn’t typically offer rewards, you can still earn rewards by shopping through the Kudos browser extension at participating merchants.
  • Kudos is compatible with all major desktop browsers (Chrome, Safari, Edge) and is also available as an iPhone app, making it easy to boost your credit card rewards across every device.

Kudos Review 2024

Below is my Kudos review.

What is Kudos?

Kudos (also known as Kudos Technologies, Inc.) is a helpful AI-powered browser extension and app designed to help you make the most of your credit cards, particularly when shopping online. It was founded by Tikue Anazodo and Ahmad Ismail, and Kudos has been featured on Forbes, Yahoo Finance, Bloomberg, The Motley Fool, Nasdaq, and more.

Think of it as a smart wallet for your browser. Driven by the complex world of credit card rewards, the Kudos team created this tool to simplify the process.

Here’s how it shines: Select the cards you commonly use (without the need for any sensitive bank details) and Kudos tells you which one to use at checkout. You see, your cards might be packed with potential rewards for different spending categories—travel, groceries, or dining.

Different credit cards have so many different benefits (such as the rewards percentage, extended warranties, purchase protection, insurance, and more), which can be difficult to keep track of.

Kudos makes sure you’re using the best card possible to earn the most rewards, which is especially useful if you have more than one rewards credit card.

Members have collectively earned over $150 million in rewards with Kudos. On a personal level, you could boost your annual shopping rewards by an average of $750 just by using Kudos.

Plus, Kudos is super user-friendly. You can add it to your preferred desktop browser (Chrome, Safari, Edge) or use it on your iPhone, and it’s completely free. The service makes money by earning a small commission when you shop at participating stores or sign up for a card through their recommendations.

When you shop without Kudos, you could be missing out on opportunities to earn rewards with your purchases. Why miss out on potential earnings when Kudos provides a free and simple solution?

Kudos also has a really helpful Instagram account full of helpful credit card tips. I highly recommend checking that out here.

How Kudos works

Imagine you’re online shopping, ready to checkout, and you pause, thinking, which credit card do I use? That’s where Kudos steps in, always there to give you the best advice.

Kudos knows your cards and suggests which one to use at checkout. But how? First, you add your credit cards to the Kudos wallet. It’s safe and simple. When it’s time to buy something, Kudos pops up and says, “Hey, use this card!” Why? Because it’s the card that will give you the most rewards or savings for that purchase.

Here are the steps to get started:

  1. Download the Kudos browser extension (takes less than a minute to do) on your desktop browser (Chrome, Safari, Edge) or iPhone. You’ll also answer basic questions like your name and the type of credit card you have (such as the Chase Freedom card).
  2. Shop like you normally do.
  3. Once you’re ready to checkout, Kudos will automatically appear to let you know which credit card you should use to get the most rewards and benefits.
  4. Click the card you want to use and Kudos will then autofill the card info, making checkout a breeze.

What stores does Kudos work on?

Kudos works at over 2 million online stores and with over 3,000 credit cards – so there’s a very good chance that it’ll work for you.

Don’t see a store supported or can’t find your card? Their support team is super responsive and will help you out!

After I told Kudos what credit card I wanted to add, the site then told me what benefits I have.

Kudos vs. other rewards tools: What sets Kudos apart?

When it comes to maximizing credit card rewards, Kudos stands out from other popular tools like Rakuten, Honey, and Capital One Shopping.

While these platforms primarily focus on providing cashback offers or coupon codes, Kudos takes a more comprehensive approach to optimize your entire credit card strategy.

What sets Kudos apart is its AI-powered technology that analyzes your specific credit cards and spending habits to recommend the best card for each purchase.

This makes sure that you’re not only earning cashback but also maximizing your points, miles, and other card-specific perks. By considering factors like bonus categories, statement credits, and exclusive benefits, Kudos helps you get the most value out of your credit cards.

Key Features of Kudos

When shopping online, you want to stretch your dollar as far as it can go. Kudos has features that make this easy by helping you get the most out of your credit cards such as:

Maximize your credit card rewards

When you’re shopping online, Kudos helps you pick the best card to use to maximize your rewards and benefits.

With Kudos, you no longer have to guess which credit card to use. This AI-powered wallet automatically recommends the best card for each purchase, making sure you always receive the highest cashback, points, or miles possible.

I personally didn’t even know that one of my credit cards had some of the benefits that Kudos listed, and I can’t believe I had been wasting so much money by skipping out on such a valuable benefit! Kudos makes it very easy for me to see my card’s benefits all in one easy place.

Plus, if you’d like, you can add your credit card information to Kudos, and Kudos will autofill your card info (including CCV) to make checking out fast.

Another way that Kudos helps you earn more rewards is because Kudos helps you build your Dream Wallet so you can get the most out of your everyday purchases. You’ll go through a quick quiz to help Kudos gather information about your needs.

Double your rewards with Kudos Boost

With Kudos, you can increase the amount you can get in credit card rewards with just one click.

If you usually earn 4% cash back when shopping at sites like Walmart or Sephora, you’ll now earn a total of 8% back with Kudos Boost. The best part? You can earn Boost at participating stores even if your card doesn’t offer its own rewards.

Kudos Boost are reward points you earn by shopping at Boost merchants.

It works like this:

  1. Shop at one of Kudos’ 15,000 participating Boost merchants
  2. Click “Activate Boost” on the bottom right corner of the screen
  3. Use Kudos at checkout – At checkout, Kudos will find your best credit card to use, autofill the payment forms, and match your credit card rewards.
  4. Redeem rewards for a gift card

You’ll receive an email from Kudos around 1-2 days after completing an eligible transaction. After the store confirms your purchase it usually takes between 60 to 120 days for your rewards to be available, and you can then find your rewards on your Activity page on Kudos.

When you’ve earned 1,000 Kudos Boost points (equal to $10.00 USD), you can exchange them for an Amazon gift card.

Receive personalized credit card recommendations

Stop wasting time opening up credit card application pages on incognito. You can receive access to elevated card offers on Kudos’ Explore Tool through their partnership with The Points Guy.

So, if you are looking for a new credit card, use Kudos to help filter the best one for you and your situation and compare different cards in one easy place.

For example, Kudos member Christina L. was able to get 150,000 Membership Rewards points after spending $6,000 on the Amex Platinum card within the first three months of account opening. That’s almost double the 80,000 points after spending $8,000 found on the American Express website!

Answer all your credit card questions with MariaGPT

Maria GPT is an AI-powered, personalized assistant designed to answer all your credit card questions, available on the Kudos mobile app.

She can help you understand the benefits of your current cards and offer personalized suggestions for new cards based on your spending habits, goals, and objectives.

Frequently Asked Questions about Kudos Review 2024

Below are common questions about Kudos, the free AI-powered wallet.

Is Kudos free to use?

Kudos is free to use.

How does Kudos make money?

Kudos earns a small affiliate commission when you make an online purchase at one of their participating merchants. Additionally, if you use the Kudos Explore Tool to apply for a new credit card, Kudos may receive a payment from the credit card issuer.

Is there a Kudos referral code?

Yes! Sign-up for Kudos for free and use the Kudos referral code “CENTS” to earn $20.00 back after your first eligible Boost purchase.

How much can you earn with Kudos?

On average, Kudos members earn $750 per year in rewards by using the app to maximize their earnings.

Do I need to provide my credit card numbers to use Kudos?

No, you don’t need to enter your credit card numbers to use Kudos. Simply select the cards you have in your wallet, and Kudos will help you maximize your benefits at checkout. Providing your credit card information is optional if you want to speed up the checkout process.

Can I use Kudos with other browser extensions?

If you use Kudos Boost and then activate another rewards program like Rakuten, Honey, Capital One Shopping, or others during the same shopping session, Kudos may not be able to earn an affiliate commission. To make sure you get maximum rewards, it’s best to use Kudos exclusively during your online shopping.

Is Kudos wallet legit?

Yes, Kudos is a legitimate browser extension and app used by over 200,000 shoppers who have earned over $150 million in rewards. You can find genuine user reviews on trusted platforms like Trustpilot, Chrome Web Store (4.8/5 stars from 667+ reviews), and the Apple App Store (4.7/5 stars from 3,500+ reviews).

Is Kudos safe and secure?

Yes, Kudos prioritizes user security and employs industry-leading protocols, including bank-grade 256-bit encryption, to safeguard your data. Kudos handles your personal and financial information with the utmost care and never sells or shares it with third parties. You can feel confident and secure when using the Kudos browser extension and app.

My Kudos Review 2024: Final Thoughts

I hope you found this Kudos review informative and helpful in understanding how this AI-powered wallet can help you maximize your credit card rewards.

Navigating the world of credit card rewards can be overwhelming, but Kudos simplifies the process with its intelligent recommendations. By analyzing a database of over 3,000 cards, Kudos ensures you always use the best card for each purchase, boosting your rewards effortlessly.

In addition to its AI-driven recommendations, Kudos streamlines your online shopping experience with a one-click autofill feature. This not only saves you time but also guarantees that you’re always using the card with the most advantageous benefits for each transaction.

Personally, I find Kudos to be a must-have shopping tool. As someone with multiple rewards credit cards, each with their own unique perks, trying to determine which card to use for every purchase can be time-consuming and confusing. Kudos eliminates this hassle by automatically identifying the best card for each transaction, allowing me to maximize my rewards efficiently.

Even if you only have a single credit card, Kudos can still help you earn more rewards. By shopping through the Kudos browser extension at thousands of participating online stores, you can accumulate points that can be redeemed for free gift cards. This means that regardless of how many credit cards you have, Kudos enables you to optimize your rewards earning potential.

Kudos also helps users find new credit cards through its partnership with The Points Guy, a well-known credit card rewards and travel website. By using the CardMatch service, Kudos helps users find the best credit card offers tailored to their specific needs and spending habits. This feature is particularly useful for those looking to expand their credit card portfolio and maximize their rewards earning potential across multiple cards.

You can sign up for Kudos for free by clicking here.

Do you use Kudos? What other questions do you have for this Kudos review?

Source: makingsenseofcents.com

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Taking that much needed vacation while on a debt payoff journey may seem impossible, but it doesn’t have to be. By planning a vacation that suits your budget and keeps goals on track, you can transport yourself somewhere new and recharge.

It’s an approach Jasmine Gillians, a leave of absence specialist and YouTuber at the channel Jazzie RayShaune, is taking with her husband. On their second debt payoff journey, the Kansas City, Missouri-based couple is working on eliminating around $64,000 in remaining debt. Previously, they took the stricter path of staying home all the time and avoiding spending on extras. She sums it up as “miserable.”

“We both work full time and we want to be able to get a breath of fresh air, but we also wanted to be mindful that we still have debt to pay off,” she says. “We like to get out, we like to enjoy ourselves, but we just realized that we can still do that on a good budget.”

Time isn’t promised, especially when it comes to vacationing with elderly family members or if starting a new job that won’t accrue paid time off for a while. When deciding whether to travel, consider the emotional and monetary cost. Choose the option of no regrets that allows you to stay true to your debt payoff plan.

Review the budget

Revisit debit and credit card statements to know where money is going. Know your numbers, including income, expenses and debt, suggests Tiffany Grant, a North Carolina-based accredited financial counselor. Understand how much to contribute monthly to pay off debts by your deadline, and prevent setbacks by building an emergency fund.

Use this information to see if it’s also possible to start a vacation fund. If money is tight, consider whether focusing only on debt makes more sense.

“If you are not able to make your payments — and like not even the minimum payments — and you’re running in the negative every month, then you probably shouldn’t be traveling,” says Grant. “Or if you do, something that’s super low cost.”

Also consider if it’s possible to cut back in certain areas to accelerate savings. Instead of taking the strict approach from the previous debt payoff journey, Gillians found ways to trim expenses to allow for more flexibility with spending.

“Things like a date night may not be dinner and a movie, it may be movie night at home,” she says. “We were already the majority of the time working out at home, so we canceled our gym memberships.”

For added savings, Gillians says she also switched to cheaper providers for things like streaming services. With these adjustments, Gillians was able to plan a vacation to Destin, Florida, to celebrate her husband’s 50th birthday.

Make a plan

Brainstorm destinations and research potential costs for transportation, accommodations, activities, food and possibly foreign transaction fees. Also leave a cushion in that vacation budget for unforeseen expenses.

Consider these options to find savings:

Redeeming rewards. On a debt payoff journey, it’s not ideal to chase credit card rewards, but using those already earned may help defray the costs of a vacation. Rewards earned through a loyalty program may also chip away at costs. Gillians says she was able to save $40 on her trip with rewards earned through Vrbo.

Exploring free or low-cost activities at your destination. Think about ways to experience a destination on a budget. For instance, consider going on a free walking tour (many cities offer these), exploring a national park on a free day or taking in some culture with free museum admission. If your budget permits, you may also get the resort experience without the high price tag. Companies like ResortPass allow you to pay for use of a hotel’s spa, pool or gym for the day. If you’re with a large group, though, these costs can add up.

Cooking your meals. By buying groceries outside of populated tourist areas and making your own meals, whether at a hotel or vacation rental, you’ll save money versus eating at restaurants. If that’s not for you, build dining expenses into the vacation fund.

Being flexible with accommodations. Where you stay depends on your preferences and needs. Weigh a variety of options, including camp sites, hostels, vacation rentals that you can split with a group, and last-minute hotel deals. A “mystery” hotel deal through a service like Priceline or Hotwire can save on costs, but the key details of the hotel are secret until you book it. You’ll see only the price, number of stars, guest rating, limited photos, a general overview of the location and a list of amenities.

Compromising on transportation. Make travel more affordable by staying local or traveling during the off season. Websites like Going, Fare Deal Alert and The Flight Deal can alert you to cheap flights. In addition to the cost of flying or driving to your destination, factor in the price of transportation once you arrive. If it’s safe to take, public transit may provide lower costs than rideshares, taxis, rental cars or other options.

Also, consider other ways to save. “I save gift cards that I get for Christmas and birthdays,” says Gillians. For her upcoming trip, she says she used three airline gift cards to save $300 on flights.

Checking for discounts. You might qualify for discounts based on employment, a credit card or another option. If you have a AAA or warehouse club membership, for example, you may be eligible for discounts on rental cars, hotels, or tickets to sporting events and theme parks. Some credit cards also provide discounts when you use them to shop with specific merchants. If you can pay off the purchase in full and avoid derailing your debt payoff journey, this option could allow you to save on dining, hotels and more.

Source: nerdwallet.com

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Categories

Rental Properties

April 23, 2024
by Mark Ferguson

In real estate investing, the BRRRR strategy is a powerful tool for building wealth. Here’s a BRRRR case study on one of my rentals. You’ll see how this strategy can be applied, showcasing the potential for significant equity growth and cash flow generation.

Table of Contents

What is BRRRR?

BRRRR stands for Buy, Rehab, Rent, Refinance, Repeat. It’s a cyclical process where you:

  1. Buy an undervalued property.
  2. Rehab the property to increase its value.
  3. Rent out the property to generate income.
  4. Refinance the property to take cash out based on the increased value.
  5. Repeat the process with the withdrawn cash to acquire more properties.

See my full BRRRR guide here: How to use the BRRRR Method to Buy Rentals With Less Money

You can also use my BRRRR calculator.

The Case Study

I’m a real estate investor with years of experience with the BRRRR strategy. I’ll show how I used it on a property I bought back in 2012. Here’s a breakdown of the journey:

  • Buying at a Discount: I purchased the property for $109,000, securing a good deal through a short sale.
  • Rehabilitation: Minor repairs and cosmetic upgrades were done for around $12,000.
  • Renting for Cash Flow: The property was rented out for $1,300 per month.
  • Cash-Out Refinance: Two years later, after property values appreciated, I refinanced the property at $143,500. This allowed me to recoup his initial investment and repairs, along with an additional $17,000.
  • The Results: Today, the property is estimated to be worth $415,000. I enjoy a positive cash flow even after factoring in property management and enjoy significant equity in the property.

Video of BRRRR Case Study

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Key Takeaways

  • Buying below market value creates instant equity.
  • Refinancing can be a powerful tool to access capital for further investment.
  • BRRRR allows you to build wealth through both cash flow and equity appreciation.

Important Considerations

  • Not all properties are suitable for BRRRR. Careful analysis is crucial.
  • Market conditions can impact the success of the strategy.
  • Refinancing involves additional costs and considerations.

Conclusion

The BRRRR strategy, as demonstrated in this case study, can be a successful approach to real estate investing. By strategically acquiring properties, making improvements, and leveraging refinancing, investors can build wealth and achieve financial freedom.

Are you interested in learning more about the BRRRR strategy and how it can benefit you?

Here are some great resources:

Source: investfourmore.com