It didn’t always feel like it, but 2016 was a pretty good year for the housing market. From Brexit to Trump, there were several surprises, but ultimately, we’re heading into 2017 with a solid footing underneath us.
No one knows exactly what will happen in the new year, and with a new administration taking office in January, it’s not easy to make detailed predictions. However, there are several data points that we can use to point us in the right direction.
So what’s in store for the housing in market in 2017? Here are 5 things to watch out for.
1. Mortgage rates will move higher
The 2016 housing market was fueled by extremely low mortgage rates. We saw rates bottom out last year at near record levels (around 3.5%) after the Brexit vote. Post-election, they’ve skyrocketed over seventy basis points (one basis point = 0.1%), mostly due to expectations that the Donald Trump administration will boost the economy with its infrastructure spending plan. While the quickness with which rates rise might soften somewhat, it’s widely expected for mortgage rates to continue on their ascent next year.
The Federal Reserve’s Federal Open Market Committee (FOMC) just recently raised the benchmark interest rate by a quarter-point for the second time in a decade.
The FOMC will meet at least eight times in 2017, and fed officials have stated that they believe it will be appropriate to raise the federal funds rate around three times throughout the year. It’s true that the FOMC does not directly control the direction of mortgage rates, but it can play a large role in influencing which way rates are headed.
So how high will mortgage rates rise?
It’s not unfathomable to suggest that mortgage rates could be somewhere between 4.75%-5.0% in the fourth quarter of 2017. Long-term interest rate speculation should always be taken with a grain of salt though. Many, many things could happen between now and then.
Click here to get today’s latest mortgage rates.
2. Millennials will buy more homes
In 2016, Millenials (ages currently 18-34) surpassed Baby Boomers as the largest living generation in the United States. While rising mortgage rates might price some of them out of the market, they are still poised to be one of biggest demographics of home buyers (some estimates are saying they will account for up to 33% of home buyers).
Marriage and children are no doubt on the way for many of them, and those are two key life events that often precede the motivation to purchase a home.
One other interesting trend for millennials in 2017 is the decision to settle in the Midwest. Apparently, the affordability and the proximity to big universities is enough of a draw in to keep millennials from heading to the coast.
3. Home price growth will soften
In 2016, home prices rose around an estimated 5%, putting them back to where they were before the housing bubble burst in 2008. While that may be great news for home owners, it’s not something every prospective home buyer is crazy about.
Nevertheless, home prices are expected to continue to rise over the course of the new year, albeit by a slightly lower margin. Zillow’s Chief Economist Svenja Goodell is predicting home prices will increase by 3.6% next year. That’s right about where other economists are predicting, give or take a few basis points.
Of course, in a nation as large and varied as the United States, not every housing market is created equal. Some markets will continue to march forward with strong growth while others will slow down and falter. For instance, cities in the western United States are predicted to outperform their eastern counterparts (just as they did in 2016) next year. As you can see below, five of the top ten cities in the graphic below are located out west.
Taken as a whole, though, home price growth will moderate somewhat compared to 2016.
4. New home construction gets more expensive
The construction industry struggled to find workers in 2016, and that trend is expected to continue. According to the National Association of Homebuilders, there are an estimated 200,000 vacant positions in the construction industry right now.
It’s not just confined to one position either. Employers are finding it extremely difficult to find both entry level and experienced workers alike. With less laborers competing for jobs, companies are forced to raise wages in order to attract talent.
Those extra costs will inevitably get passed on to customers, resulting in an increased cost for new construction. Not only that, this shortage of labor means that fewer houses are being produced.
Wild Cards
Fed overplaying their hand
Not everyone is so optimistic about the housing market and the economy in general. A recent report from the Financial Times shows that many economists are extremely doubtful that the Federal Reserve will wind up proceeding with multiple rate hikes in 2017. Instead, they believe that the Fed will raise rates once at their June meeting.
It’s definitely reasonable to be fairly skeptical of fed rate hike predictions, seeing how some fed officials were touting up to four rate hikes this year and in the end they barely pulled one off.
Doubts about Trump stimulus
While the stock markets surged after Donald Trump came out and stated that he has plans for substantial fiscal stimulus, some experts believe the path ahead won’t be so smooth. Euro Pacific Capital CEO Peter Schiff has come out recently as one of the few economists to question the efficacy of Trump’s plan. Here it is in his own words:
“The Federal Reserve is going to have to step up to the plate big league if Donald Trump is going to want to move forward with the tax cuts and spending increases that he has promised the electorate. That’s where the markets have it wrong. They somehow think that fiscal stimulus is a substitute for monetary stimulus. It’s not. If we’re going to have larger deficits, it’s impossible to finance them unless the Federal Reserve does it. That means they’re going to have to be launching another round of quantitative easing that is much larger than the ones we’ve had in the past. Rather than being dollar positive, this is a negative for the dollar … If currency traders actually understood what was happening, higher inflation is very bad for the dollar because the Fed cannot fight it.”
Bottom Line
Trying to predict the future is often more a mental exercise than it is an actionable guideline. There are just too many unknowns to hang your hat on anything more than several months out. It’s still important to go through the data and try to gain a better understanding of things to come. While there’s no guarantee that any of these predictions will come true, borrowers, investors, and onlookers that are aware of the expectations are better suited to adapt to whatever unfolds in the 2017 housing market.
Data for the graphic via Realtor.com
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
Inside: Dreaming of ways to make money fast as a woman? Stop dreaming and take action. These are genius ways of making money online and at home.
Making money fast is crucial for maintaining a comfortable lifestyle, especially in the face of rising living costs. It can be the key to financial stability, providing additional funds to support and enjoy your lifestyle.
As a woman, you need to know how to make money fast.
This isn’t just about getting rich quickly. It’s about women gaining the freedom to live independently without financial constraints.
The feeling of financial security lessens stress; not having to worry over unexpected expenses plays a big role in your overall well-being.
This is what you want to do – make money fast!
Good news! You are in the right spot and I’ll show you my favorite ways to make money online.
Get into the right mindset, ladies! Making money fast isn’t just possible, but also liberating.
How can I make easy money ASAP?
Making easy money quickly can be achieved in various ways that utilize your skills and knowledge.
First and foremost, consider your own skills and expertise, and determine whether they could apply to jobs like cake baking, childcare, bookkeeping, house cleaning, or freelance writing.
This will tell you the easiest way for you to make money quickly. For me, I prefer to trade options in the stock market. Whereas someone else may choose babysitting or dog walking.
You need to find how to make money fast and we will help you with that decision.
Why Making Money Fast is Important
1. Makes it possible to live comfortably 2. Enables you to afford the best quality of life 3. Gives you the freedom to pursue your dreams 4. Gives you the freedom to live without financial constraints 5. Provides you with security and safety 6. Freedom to give back to your community 7. Freedom to choose how you spend your time 8. Opportunity to take risks and start a business 9. Provides you with a sense of power and control 10. Live without financial worry
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
How can I make a lot of money in hours?
Making income in a matter of hours for a woman is entirely feasible with a blend of freelancing, leveraging gig economy platforms, and capitalizing on your skills or assets. Here’s a quick guide for you:
Consider freelancing: Establish your writing, graphic design, or programming services on platforms like Fiverr or Upwork.
Dive into the gig economy: Sign up for TaskRabbit, Airbnb, or Turo to start earning.
Try online tutoring or content selling: Proficient in any subject or have strong graphic design skills? Go for tutoring or sell your content.
Indulge in buying & selling: If you’re good at purchasing low and selling high, then swap clothes or furniture, or even stocks.
Take online surveys or join market research groups on sites like Swagbucks for a rapid source of income.
Remember, time management is crucial for balancing multiple streams at once. Don’t forget to schedule wisely!
How to Make Money Fast as a Woman
No matter who you are, making money can be tough. But if you’re a woman, it can feel impossible.
From getting paid less than men for the same job to having a harder time getting promoted, the deck is often stacked against us.
Just so you know that making quick money in one day won’t happen overnight.
So, I’m going to tell you the best ways to make money fast as a woman.
1. Sell Services
Selling your skills or expertise is a fast, viable way to earn money. It’s all about utilizing what you already know to provide value to others.
Identify your marketable skills, such as cake baking, freelance writing, bookkeeping or even organizing spaces.
Brainstorm which of these services people could pay for.
Remember, you can tap into both physical tasks, like house cleaning or pet-sitting, and digital ones, like creating digital printables or offering consulting in your field of expertise.
Expert Tip: Launch your service with a few testimonials, helping to build trust with potential customers from the get-go.
2. Freelance
Freelancing is a savvy way for women to stack up earnings fast, offering flexibility and complete control over the workload. It’s a ticket to dodge conventional office politics and punch above your earning potential.
Start by identifying your freelance niche. You can be a writer, graphic designer, or anything you’re skilled at. Many people use their transferable 9-5 skills to side hustle.
Then, create your profile on platforms like Fiverr, Upwork or Guru – be sure to showcase your accolades.
Set your rates, then start connecting with clients looking for your talent.
Remember, success in freelancing is driven by quality and consistency. So, sharpen your skills and always exceed your client’s expectations.
Freelancing may start as a side gig, but with dedication, it can grow into a full-time job.
3. Become a Product Reviewer
Being a product reviewer is an intriguing job opportunity for those who enjoy sharing candid feedback about their experiences with various products.
As a product reviewer, you are required to assess products often sent to you from diverse companies.
Your role involves providing a comprehensive review that could range from making an unboxing video to writing a detailed article about the product’s features and performance.
This kind of job requires an unbiased perspective and the capacity to articulate your thoughts and experience in a detailed, user-friendly manner.
Companies value this form of direct feedback as it provides them with significant data about their product’s strengths and weaknesses as perceived by an end-user.
4. Virtual Assistants
As a woman, becoming a virtual assistant could be your fast lane to earning a substantial income.
This is especially a great option if you’re excellent in organization and time management along with the need for flexibility.
For many becoming a virtual assistant with no experience is possible. And very lucrative.
Finally, for your best shot at success in this field, taking a course to improve your learning curve is extremely helpful.
Potential to earn up to $43,000 per year.
5. Sell Your Crafts
Ladies, have you thought of turning your love for crafts into a profitable venture?
Find out what crafts are in demand. The higher the demand, the more profitable it would be to make and sell these crafts.
Remember, profitability hinges on what you sell and how much you sell. Happy crafting!
While you are limited on what you can earn by what you can make, it is possible to make money doing something you absolutely enjoy.
6. Stock Trading
Stock trading may seem daunting but it can be a quick route to financial independence, especially for women.
With the right tools, information, and mindset, you can swiftly navigate the market and amplify your earnings. In fact, this is something Teri Ijeoma did herself.
Educate yourself on the basics before you invest. This is exactly what I did and my investment has paid off.
Always be aware of the risks involved in stock trading and proceed cautiously. However, building up an investing education is a wise decision.
Learn how fast can you make money in stocks.
7. Babysit
Babysitting is a versatile side hustle offering flexible hours and good earning potential.
It’s an ideal opportunity if you’re seeking quick, extra income and enjoy children.
Obtain optional certifications like CPR and first aid to enhance your appeal. Visit platforms like Care.com, Sittercity, or Urbansitter to create your profile and connect with clients.
8. Transcriber
One field that remains highly overlooked is transcription.
A transcriptionist listens to audio files and converts them into written documents.
Gain a thorough understanding of the industry. Check out this free webinar to get the basics right.
Consider specializing in legal or medical transcription. These niches often fetch higher wages.
You could easily make $3000-$4000 monthly, working on your own schedule.
Remember, practice and precision can help you achieve a lucrative transcription rate.
9. House Cleaning
Cleaning can be a rewarding gig, especially if you like tidying spaces.
Despite recognizing the need for a clean home, many people often struggle to find the time or energy to routinely clean their homes. This is where the prospect of a housecleaning business arises.
Busy homeowners, parents juggling work and childcare, elderly individuals needing assistance, and even businesses needing regular cleaning services are all potential clients for a housecleaning business. This demand provides a consistent income flow for those offering cleaning services.
In fact, individuals transitioning into this field of work can negotiate their wages with clients, potentially earning more than $15 an hour based on the complexity and demands of the job.
10. Sell Printables on Etsy
Selling printables is an effective and lucrative method to generate passive income.
Once printables such as planners, calendars, and journals are designed, created, and listed for sale on platforms like Shopify or Etsy, they can consistently produce income without requiring continual input or maintenance.
According to several experts, one of the keys to making substantial profits from printables is to differentiate your products.
Building upon this idea of making money from printables, the free Printables Workshop by Gold City Ventures offers comprehensive insights into the process of creating and selling aesthetically pleasing printable products online. This accessible course can be an excellent starting point for beginners looking to navigate the printables market.
Selling printables on Etsy might be the perfect venture for you!
11. Dog Walking
Looking for a fun-filled way to make some quick bucks?
Dog walking could be the right side hustle for you, especially if you’re an animal lover.
Easy to find jobs for dog walking.
Suitable for people with flexible schedules.
Offers an active way to earn money.
Option to select your rates with platforms like Rover.
High demand especially due to increasing pet adoptions and busy pet owners.
You can work when you need to and not take clients when you don’t want too.
12. Make Money Blogging
Blogging is a popular and prevalent way to earn money. Many blog owners are women who want the flexibility to earn significant money at their own pace and schedule.
Earning money through blogging allows you to focus on something you’re passionate about. Any topic that can provide value to an audience can be blogged about. Targeting a niche that has been overlooked by existing blogs can increase your blog’s potential earnings.
Starting a blog doesn’t require formal training, but it does require a willingness and ability to write effectively for an audience.
By employing monetizing avenues, like affiliate marketing and advertising, a blogger can boost their earning significantly.
Despite the vast number of existing blogs, the industry is very accommodating toward new voices, especially female voices. Thus, knowing how to monetize a blog can offer women many opportunities.
Remember, blogging is not just about earning fast bucks, it also needs consistent efforts. It’s rewarding but can start slow.
13. Ride-Sharing
Ridesharing is an excellent opportunity for women looking to make fast money. With apps like Uber and Lyft, you can earn an income simply by offering transportation services.
Here are a few tips to increase your earnings:
Consider driving during peak hours, weekends, or during special events to cash in on higher demand.
Choose busy locations such as city centers and nightlife spots to increase your chances of getting rides.
Maintain good customer service and ensure safe driving to uphold your rating and receive more ride requests.
14. Office Cleaning
Considering the hustle and bustle of the daily grind, office cleaning can be an untapped treasure trove for women seeking quick cash. Given the high demand and flexible hours, it’s an ideal source of extra income.
You must identify office premises needing cleaning services. Reach out to the owners or management, and propose your services.
Think about offering your services to offices in your local area. It’s a fast way to make extra money while managing your other commitments.
15. eBay Arbitrage
Looking to earn some quick money? eBay Arbitrage could be the game-changer you need.
Aimed mostly at women who love shopping, it’s about buying products cheaply and selling them on eBay for a profit.
First, hunt for bargains in thrift stores, sales, or online markets.
Go with high-demand items; electronics, collectibles, or brand sneakers are a good start.
Then, create your eBay store and list your finds at a competitive but profitable price.
Track each item’s demand through keyword research and buyers’ reviews.
Remember to calculate potential profits inclusive of shipping costs and eBay fees.
Armed with the right strategies, you can start earning with eBay in no time!
16. Freelance Writing
Did you know your writing passion can become a quick buck-making engine? That’s right, freelance writing is a gold mine you ought to tap.
First, identify a writing niche you love. It’s easier to excel when you’re passionate about your work.
Continually hone your writing skills. The more you practice, the better you become and the more valuable your skills. Finally, don’t be shy to market your skills. Reach out to small businesses and startups—they often need freelance writers.
Remember, quality over quantity will earn you a solid reputation in the long run. Now, go turn those wordy wonders into wealth!
17. Online Surveys
Curious about making a quick buck? Engaging in online surveys can be a fast money-making method just for you!
You don’t earn a huge amount per survey but when taking multiple surveys, it will add up fast.
Here are the top legit survey platforms:
Use your free time wisely. Take surveys during work breaks or leisure hours.
Redeem points for PayPal cash or gift cards.
18. YouTube Channel Building
Building a YouTube channel can be an interesting and rewarding venture.
It provides an incredible platform to share your content, express your creativity, and engage with a global audience. Whether you want to showcase your talents, teach something unique or simply entertain, having a YouTube channel opens up many opportunities.
Effective engagement with your audience is vital.
Last but not least, patience is something you will need in abundance. Building a successful YouTube channel takes time, so don’t lose hope if you’re not seeing immediate results.
Remember, there’s no limit to what you can achieve with your YouTube channel. It all comes down to how creatively you can use this platform to engage with your audience and grow your presence.
19. Bookkeeper
In our increasingly digital age, online bookkeepers are in high demand, with more businesses choosing to move their financial operations to the online platform. This shift in business operations has created a robust opportunity for those trained in bookkeeping to tap into the market and earn income while working from the comfort of their homes.
To be successful as web-based bookkeeper, you need to be well-organized and have previous experience dealing with numbers. However, even without a formal accounting education, individuals can take advantage of online learning platforms like Bookkeepers.com to learn and sharpen their bookkeeping skills for free.
Becoming a virtual bookkeeper is not just a fantastic full-time job opportunity; it’s also an excellent side hustle for women and mothers proficient with numbers. It provides flexible hours and allows the freedom to work from anywhere, making it ideal for those juggling multiple responsibilities.
The financial compensation for an online virtual bookkeeper is quite significant. On average, bookkeepers can earn at least $50000 a year helping business owners manage their finance and bookkeeping online.
20. Start a Dropshipping Store
Dropshipping is a viable option with low startup costs that lets you run an online store without handling any physical products.
There is still plenty of time to get into the dropshipping business.
Start by deciding what products to sell. Find a niche you’re passionate about for a higher chance of success.
Remember, a successful dropshipping venture involves effective marketing as well. So invest time and effort into perfecting your advertising tactics.
21. Do Clerical Work
Clerical work offers flexible, remote opportunities for women to make quick money.
With adequate admin experience and internet access, you can explore roles like Virtual Assistant, Online Data Entry Professional, or Court Transcriptionist.
This is one of the best non phone work from home jobs.
Experts tip: Perfection and punctuality are key. Attention to detail and meeting deadlines can make you stand out.
22. Resell Clothes
Reselling clothes online is a savvy way to turn your clutter into cash, especially if you love digging for hidden gems.
It’s a popular method for fast cash flow, with Poshmark and Facebook Marketplace being perfect platforms. One of my friends is very successful with this!
Begin with your own closet, and sell kids clothes they have outgrown too.
Reinvest your earnings, by buying second-hand clothing to resell can boost your profits.
Don’t forget quality. Run a quick check for authenticity and brand labels.
Visuals sell. Stage items and capture high-res photographs.
Providing a great customer experience is key, ensuring prompt shipping and maintaining politeness.
Play your cards right, you could earn anywhere between $100 to $1,000 a month or even reach a six-figure yearly income.
23. Do Home-Based Child Care
Home-based child care is a viable option to earn money, leveraging the natural maternal instincts and caregiving skills of many women. It can be a lucrative side hustle and a means to financial independence.
This is especially a great avenue to pursue when you are already at home raising your own children.
Make sure to follow any state regulations about running a daycare out of your home.
Begin by determining the number of children you can handle at a time, taking care not to overbook.
24. Podcasting
Podcasting is a wonderful opportunity for delivering narratives. It enables you to weave compelling stories while inspiring, instructing, or simply entertaining your listeners.
The unique format of podcasting lets you connect with your audience on a personal level. They listen to your voice, engage with your thoughts, and feel a stronger connection to you.
By starting a podcast, you are joining an increasingly popular trend, with the global number of podcast listeners has grown to 464.7 million listeners in 2022 (source).
Podcasting also opens up doors for networking and collaboration. You can invite experts, artists, or like-minded individuals as guests on your show, thus expanding your network.
There’s a potential to earn from podcasting. With affiliate marketing, sponsorships, and advertising, the commercial possibilities of podcasting are extensive.
25. Merch by Amazon
“Merch by Amazon” is a print-on-demand service that allows you to design and sell your merchandise.
It’s a great money-making alternative as it offers massive exposure and doesn’t require any upfront costs.
One of the significant advantages of using Merch by Amazon for passive income is that you are not required to maintain inventory or deal with shipping. Amazon handles these aspects, allowing you to focus on the creation process and customer satisfaction.
Amazon’s royalty system ensures that you get paid instantly whenever your merchandise is purchased. This allows you to earn money passively with every sale.
When your designs meet the current market trends and the preferences of your customers, they are more likely to be popular, leading to an increase in sales, hence, higher passive income.
26. Become an Influencer
Becoming an influencer is a smart, quick way for women to make money. While most people just stumble upon becoming an influencer, you can decide to pursue this avenue.
With earning potential that is unlimited, this opportunity is flourishing, requiring no specific degree or job experience.
Remember, platforms like TikTok, Instagram and YouTube reward new, engaging creators.
Dedication and consistency could lead you to major earnings where you make thousands for each post.
27. Work as a Translator
Having mastery in more than one language opens up a world of opportunities, particularly in the realm of translation services. The ability to translate language effectively and accurately is a skill that’s in high demand in the current globalized world.
A top benefit of being a freelance online translator is the flexible work environment. You have the freedom to choose when, where, and how much you want to work. This flexibility for work-life balance is more appealing now than ever, especially in the unsteady job market.
Freelance translators also have access to a wider client base. Unlike full-time translators who work for specific organizations or agencies, freelance translators can work with various clients from all over the world, widening their potential income streams.
The need for translators is projected to grow substantially. In the United States alone, the U.S. Bureau of Labor Statistics reports that employment for interpreters and translators will increase by 20% from 2021 through 2031, which is much faster than the average for all occupations.
Among other freelance professions, translation can often provide a more stable income.
As most sectors including education, legal, business, medical, and technological firms continue to globalize, they regularly need translators to bridge the language gap, making freelance translation services a steady income source.
31. Become a Flipper
Becoming a flipper is a high-return, low-investment way to make money fast. It involves buying low and selling high, perfect for those wanting a profitable side hustle.
Here are actionable steps to kickstart your flipping journey:
Identify items to flip: Popular options include toys, clothes, electronics, books, and furniture. Pro-tip: Sell things you have around your house to start risk free.
Choose a selling platform: Sell locally via Facebook groups or Craigslist, use reselling apps like Decluttr, or open an online store on eBay.
Price it right: Pricing items competitively garners buyer interest and maximizes profit.
Learn more: Free webinars, like Flipper University and the Flea Market Flipper, offer insights for a successful flipping business.
Remember, flipping can be more than just a side hustle; it’s a potential full-time career.
32. Micro-Tasking
Micro-tasking offers a quick way for you to earn money by completing short and simple tasks.
As its popularity grows, so does the list of platforms where you can find micro-jobs. Here are the popular platforms.
This allows your the flexibility to work whenever you want. Plus no special skills or degrees are needed.
Just note… This is not a stable income source
Tips for Finding the Best Way for You to Make Money
As you can see, there are many different ways to make money fast as a woman.
You can find the best way for you by considering your skills, interests, and the amount of time you have available.
Here are some helpful tips to make sure you are earning money quickly.
1. Identify Your Skills and Offerings
You’re already gifted, let’s transform those skills into fast cash.
Make a list of your skills, passions, and expertise; you can tap into anything from programming to knitting.
That is where you want to start.
From personal experience, I can tell you it is way easier to work on a side hustle or business when you are passionate about the topic.
Remember, the digital world is your playground, so play, innovate and cash-in.
2. Research the Best Ways to Make Money
Now, that you know the skills and experience, look at the list above and determine which ones match up.
You will need to spend time watching a free webinar to learn more.
Compare different money-making ideas. From part-time jobs to freelancing, there’s a plethora of options. You need to pick what works best for you.
Remember, generating a consistent income requires effective strategies and the right mindset. So choose wisely!
3. Try Different Ways to Make Money – Not Just 9-5 Jobs
It’s vital to explore different money-making strategies as a woman for financial stability and independence.
Just because one avenue didn’t work out doesn’t mean you should throw in the towel.
Remember, the key to success is perseverance, so pick something you’re passionate about and stick to it. Try not to jump from one idea to another out of impatience; success takes time.
Also, as your revenue increases, start building a lifestyle business for passive income.
4. Focus on the Things You Are Good at
Unlock your financial potential by recognizing and utilizing things you’re excellent at.
To cash in fast:
Identify your standout skills. These could range from writing, fine arts, math, e-commerce to digital marketing or even passions such as sports and hobbies.
Assess the viability of earning via your skills. Research shows that the digital economy is filled with opportunities.
Exploit platforms that cater to your expertise. For freelance gigs, you can try platforms like Upwork, Fiverr, or Guru.
There are so many ways to make money online as a beginner. So, indulge in the digital playground, embrace exploration and innovation, and let your skills earn for you.
5. Find Opportunities That Allow You to Work Flexibly
You can choose when to work and when not to, rather than being constrained by a 9 to 5 workday. The flexibility to create your schedule means you can operate at your most productive times, whether that’s early in the morning or late at night.
Working from home or any location across the globe enables a better work-life balance, reducing stress and improving productivity. This is particularly beneficial for those who have families or are committed to other obligations.
When working for yourself, you may have the potential to earn more than traditional salaried roles.
Lastly, making a living from your passion is huge!
You are being paid to do what you love anywhere, anytime which is rare and precious.
6. Consider Specializing in a Niche Subject
Specializing in a niche subject can elevate your earning potential quickly, owing to smaller competition and a personalized audience.
Being a subject matter expert in a specific area can provide you with an edge over your competitors.
Specializing in a niche can help you stand out and garner a dedicated audience, ultimately leading to faster earnings.
Remember, the key to making money faster in your specialized area is persistence and patience. It may take time to build a strong following, but once you do, the financial rewards can be substantial.
Stick to your chosen area, continuously learn and improve, and consistently deliver high-quality content to make your mark in your chosen niche.
7. Take Advantage of Trending Opportunities
Jumping on trending opportunities can be a gold mine, especially for women who want to make money fast from home. These ever-evolving trends tap into various skill sets, interests, and experiences, potentially translating into a lucrative gig.
For many, it may have been TikTok when the company first started.
Remember, the digital world holds limitless potential. Just needing to innovate and execute your ideas!
8. Invest in the Right Tools and Equipment
The key to making money, either online or offline, is making an informed investment of your time into the right tools, equipment, and learning resources.
While this can initially seem like an expenditure rather than a money-making step, it is, in fact, a cornerstone of your financial growth strategy.
Investing time in learning and increasing your knowledge base is vital. This could mean spending your time reading about new insights in your area of work, attending webinars, or enrolling in online courses. The ROI of this proactive learning is immense.
Consider this an opportunity or a catalyst that speeds up your journey toward substantial income generation and financial freedom.
9. Commit to Consistent Efforts
Commitment to consistent efforts is the cornerstone of any successful endeavor, more so when running your own side hustle.
One of the fundamental principles for making money is the dedication to keep improving your craft, always learning, and always evolving.
This continual effort involves a long-term commitment to staying updated with the latest writing trends, styles, and industry standards.
With persistence and patience, the fruition of your investments will lead you toward the fulfillment of your financial dreams.
10. Utilize Social Media Platforms to Promote Your Business
Social media platforms are powerful tools for business promotion, and when used strategically, they can lead to fast monetary gains.
Understanding how to effectively utilize these platforms can drastically enhance your chances of making quick bucks.
Start by creating a robust online presence for your business on various social media platforms. Remember, consistency is key to building your brand.
Engage with your audience frequently and respond to their comments. This boosts engagement on your posts.
Post content that is engaging, relevant, and aligns with your business values.
Always monitor your performance using social media analytics to understand what works best for your audience.
Which side hustles for women have you tried?
Personally, here are the side hustles I have done or currently do:
Stock Trading as a swing trader
Online Content Creation
Social Media Influencer
Online Consulting
Pet Sitting or House Sitting
Teaching Dance Lessons
Personal Organizer
However, I know many people that have tried the ones listed above.
So ladies, which of these enticing hustles appeals to your skills and schedule the most?
FAQ
Stay-at-home moms have numerous opportunities to earn money from the comfort of their homes. Plus being able to bump up your household income while juggling parenthood is the perfect combination.
Find the best jobs for moms specifically!
Any of these opportunities requires dedication and consistent effort, but with time they can all yield substantial returns.
Thankfully, there are many ways for women to make money online.
Above we covered all of the interesting ways and many are online.
Remember, opt for an avenue that suits your skills, interests, and time availability.
Well. the answer to this will depend on who you speak with.
Personally, I find ways to build passive income with your side hustle as the best option. Then you aren’t trading your time for money.
As a woman, many opportunities are right at your fingertips. The most popular and profitable include:
Start a blog: With consistent readership, you can make thousands from ad revenue and sponsored content.
Virtual assistant: Services can fetch around $10-30/hour.
Social Media Management: Businesses are willing to pay up to $1000-2000 per month for proficient managers.
Bookkeeping: On average, freelance bookkeepers earn around $34/hour.
Selling products online: Sites like Etsy, Amazon FBA, or your own platform can earn you a substantial income with a successful shop.
Trading Stocks or Options: by improving your investing knowledge, you can quickly increase your net worth.
Remember – it all starts with a step. Your side hustle could turn into a full-time passion!
This is How to Make Money from Home as a Woman
In conclusion, as a woman, there are plenty of genius and fast ways for you to make money.
The article underlines the significance of grabbing the reins of your financial future.
Through the strategies shared – including investing in stocks, working from home, or using budgeting hacks, you can boost your income significantly.
One of the concepts, I’m big on is making sure you know how to make your money work for you.
With wise decisions and being open to possibilities, your financial independence is within reach.
Remember – the ball is in your court, so make sure to take that shot and score your financial goals. It’s high time to cash in on your potential!
Know someone else that needs this, too? Then, please share!!
“If these expenses were to be excluded due to their nonrecurring nature, this would result in a 4% quarter-over-quarter reduction in our core operating expenses,” Martell noted during Tuesday’s earnings call. “Profitable growth, together with our laser focus on productivity and operating leverage, accounted for a $42 million, or 46%, sequential reduction in our Q2 … [Read more…]
Mortgage applications fell for the second week in a row as interest rates continued to climb, tempering consumer demand. Home loan application volume dropped 3.2% on a seasonally adjusted basis – 4% when unadjusted – for the week ending August 4, according to the Mortgage Bankers Association (MBA). “Treasury yields rates rose last week, and … [Read more…]
Inside: Are you struggling to manage your money? Feeling overwhelmed with debt? If so, it’s time to take action and build better habits. This guide will teach you how to create a budget and start your savings. You need these financial tips for young adults.
The importance of sound financial advice for young adults cannot be overstated.
Often, a lacuna exists in our educational system where personal finance is concerned, leaving many young adults ill-equipped for the financial decisions that await them in their adult life.
Yet, you will encounter situations that require a sound understanding of budgeting, credit usage, investment, and an array of other financial tools without any formal education in these areas.
Financial advice can act as a compass, guiding you on a path to financial health and stability.
This early orientation can help you avoid the pitfalls of needless debt accumulation, poor money management, and inefficient financial choices like I made.
That is why it is of utmost importance to start imparting knowledge and financial habits to young adults as early as possible.
Why Financial Advice is Crucial for Young Adults
Money matters! Especially when you’re young and there’s a world of financial responsibilities unveiled before you.
Understanding financial basics early on is key to smart monetary decisions in the future. Here’s why you should consider this vital:
Knowledge Burst: Understanding finance terms, the implications, and their impacts arm you with knowledge for future decisions.
Saving for Later: Early investment in savings accounts or retirement funds can maximize your funds later in life.
Debts Control: Ensuring debts are paid off faster helps avoid excessive interest in the long run.
Investment: Stock or mutual fund investment can multiply your savings in the right condition.
Remember, your financial health requires deliberate action, start early!
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What is the best saving advice for young adults?
The best saving advice for young adults is to start early and save regularly.
This will help you build up a nest egg that you can use in the future.
Personally, this is my own regret as such it took me way too long to become financially sound.
Also, you want to be mindful of your spending and live within your means.
Best Financial Advice for Young Adults
When you’re in your 20s, the world feels like your oyster, ripe with opportunities and potential.
But among this plethora of choices, the most important decisions you make may very well relate to your finances.
While the excitement of earning and spending your hard-earned money can be exhilarating, it is crucial to remember that wise financial decisions made early on can set the stage for long-term financial success.
We have curated some of the best financial advice to help you make informed decisions and set the foundation for a secure financial future.
1. Create a Budget
Creating a budget can seem like a daunting task. However, once correctly accomplished, it can undeniably make your life a lot easier.
Below are some reasons to start budgeting from the start:
Money management: Knowing the ins and outs of your financial transactions helps manage your money efficiently. A budget gives you a clear snapshot of your income and expenses, allowing you to make strategic decisions about spending and saving. This level of control can be incredibly liberating and reassuring.
Financial discipline: Creating a budget encourages discipline when it comes to financial decisions. It can show you areas where you’re spending more than necessary, such as an underutilized gym membership, frequent dining out, or an unused streaming subscription. By addressing these expenses, you could easily save an additional $100 per month.
Alignment with goals: A budget can provide clarity and align your financial actions with your long-term goals. If you are side-tracked and lose sight of these ambitions, the budget serves as a potent reminder to guide you back to the right path.
Effective savings: A budget constitutes a robust tool that allows you to maximize your income and inculcate a savings habit. Essentially, it’s a roadmap that shows you, in real time, where you can minimize and direct those funds into savings. Those savings can then be invested toward achieving significant life goals more efficiently.
Stress reduction: Tracking income and expenditure can culminate in a stress-free financial life. For example, it helps manage unexpected emergencies or allows you to enjoy after-office drinks without any worries about overspending.
To simplify the job, various user-friendly budgeting apps are available.
These digital budgeting tools or apps offer handy features that can streamline tracking expenses and income. These tools can automatically categorize transactions, display visual charts of spending, and send alerts when you’re nearing the limit of a budget category.
Enjoy guilt-free spending and effortless saving with a friendly, flexible method for managing your finances.
Start Your Free Trial.
So, no more wondering where your money went.
With a budget in place, you get to tell your money exactly where to go, and this is an empowering shift from feeling out of control to feeling in control of your finances.
By making budgeting a consistent part of your financial routine, you adopt a proactive approach to your money, making your life easier, and your future brighter.
2. Manage Your Debt
As a young adult, managing your debt is incredibly crucial. Not only does it set the foundation for your financial future, but it also helps to keep your credit score healthy.
Here are some top-notch expert tips on how to effectively manage your debts:
Avoid credit cards whenever possible. Although credit card rewards may seem appealing, they can often lead to unwanted debts. Instead, try using cash, debit cards, or cash app cards.
Don’t finance purchases that depreciate in value over time. Rather than taking a loan for things like cars or other depreciable assets, save up and pay in full.
Minimize education-related costs. This can be achieved by going to in-state schools, considering trade school or community college, living off-campus, and exploring scholarships or work/study programs. Learn how to pay for college without loans.
Pay off your debts methodically. Consider strategies like the debt snowball or avalanche methods to strategically pay off your debts. Use a debt payoff app to find your debt free date.
Remember, being in debt can delay your financial goals.
So, learning to manage your debts early on in your life can have a significant impact on your future finances.
3. Invest Wisely
Investing wisely is a cornerstone of solid financial advice for young adults. It sets the foundation for a financially secure future.
Most people are terrified of the concept of investing and stay away from it, which is the worst decision possible.
Investing is about putting your money to work for you, expecting growth or income over time.
Consistently adding money to your investment portfolio can be more beneficial than staying away or trying to time the market.
Investing is ideally a long-term endeavor. Patience is key – you can’t expect to make big gains or reach your financial goals overnight. It’s a process of steady growth.
Simplicity is key for beginner investors. Buying and holding index funds is a good example of a simple and passive investment strategy. Or you can learn how to invest in stocks for beginners.
4. Educate Yourself about Savings and Investment Accounts
Understanding savings is a fundamental aspect of personal finance, yet many young adults ignore this.
Beginning an emergency fund, no matter how small is one of the oft-repeated mantras of personal finance experts.
Consistently making savings a non-negotiable monthly “expense” not only provides a safety net for emergencies but also contributes to various future goals such as retirement, vacation, or a down payment on a home.
A foundational aspect of mastering your finances involves learning self-control, reducing the tendency to make every purchase on credit, and understanding the importance of saving money before making a purchase.
Taking the initiative to read personal finance books and gain knowledge about managing money can greatly aid in controlling your financial future and making informed decisions about savings.
Starting saving for retirement early is essential to secure financial stability in the future.
Learn how much money should I have saved by 25.
5. Limit Your Expenses
Understanding how to limit expenses can be a game changer for your finances.
Track your daily expenses carefully, even the small ones like your morning coffee, as they can add up and provide crucial insights into your spending habits.
Keep your monthly costs, such as rent, as low as feasibly possible, as this will save you substantial amounts over time and accelerate your ability to invest in assets like a home. Learn the ideal household budget percentages.
This one makes the biggest different to spend less money…Categorize your expenses and set specific spending limits for each group, reviewing and adjusting these as needed to curb any overspending.
Regularly review your finances, specifically your bank and credit card statements, every two to three months to identify and eliminate any unnecessary expenditures.
6. Build Passive Income Streams
Okay, this one is my top financial tip!
Navigating the financial world requires strategy, and for young adults, generating passion income streams is a game-changer. With the decline of traditional 9-5 jobs, it’s crucial to adopt flexible financial strategies.
Start identifying your passions that can be monetized. Think about your hobbies, skills, or areas in which you’re an expert. It could be anything from blogging to tutoring or even food delivery services.
Find ways to make passive income. Remember, every bit of extra income counts, and data suggests diversifying income streams can secure your financial future.
Continuous learning is your power tool here. Aim to broaden your financial literacy, understand investing, explore various earning methods, and strengthen your entrepreneurial spirit.
While cutting expenses helps, growing your income using your passions gives you control over your financial destiny.
So, don’t hesitate in doubling up your day job with your passion-driven side hustles.
Expert tip: One of the best ways to make money online for beginners is a key place to start.
7. Create a Cash Reserve
Understand that surprise expenses can unsettle your financial plan, like a sudden car repair costing $700. Having a cash reserve will keep you financially stable through these unexpected turns.
Start an emergency fund: Alongside your regular savings, begin an emergency fund. Aim to save around three to six months’ worth of income.
Prioritize savings: Consider your savings as a non-negotiable expense. You’ll soon realize you’ve saved enough for significant objectives like a down payment on a home.
Build a rainy day fund: This larger $10k-50k rainy day account will help in those long-term expenses or job loss.
Combat inflation: Choose a money market account to preserve the value of your savings, while ensuring quick accessibility in emergencies.
Automation is key: If you’re forgetful, set up an automatic transfer that channels funds to your savings account immediately upon salary credit.
Building up cash reverses will help you to improve your liquid net worth and have less stress around money.
8. Learn About Taxes
Taxes seem complicated, huh? Well, not grasping tax basics can give you a run for your cash. So, get started young and you might save up a fortune in the long run
Start by understanding your salary. The chunk that you take home (net pay) isn’t the whole amount (gross pay) that your employer agreed on. Learn more about gross pay vs net pay.
If you’re self-employed, remember, you’ve got to handle income taxes, and also the full FICA bundle.
Do your bit of math now and avoid an unexpected cringer next April.
9. Consider a Term Life Insurance Policy
Getting a term life insurance policy while still relatively young is a smart financial move that any savvy young adult should consider early in their career.
This safety net serves multiple purposes, especially in ensuring the protection of your future family if for any reason you’re unable to provide for them.
Term life insurance policies are typically far more affordable for young adults. The research notably reveals that the younger an individual is, the more affordable the life insurance policy tends to be. Therefore, beginning this investment in your early years enables you to lock in a lower premium rate, thereby saving significant amounts in the long run.
A life insurance policy is an important piece of your financial planning puzzle. Remember, cost increases with age so act fast!
10. Take Action and Stay With It
Taking action and sticking with it is crucial in managing finances well.
First, you’ve got to get clear about your financial goals. Want to set up a passive income stream or travel? Make them specific, feasible, and measurable.
Once you’ve set your goals, break them down into bite-size pieces. For instance, calculate the costs and set quarterly goals. Make sure to these vision board supplies to keep your goals front and center.
Ultimately, this proactive approach coupled with persistence can help you efficiently manage your funds and stay financially healthy.
FAQ
Honestly, this is completely up to you.
The better bet would be to learn about financial management topics yourself.
Finding a fee-based financial advisor will be difficult when you have no significant assets. And then, when you do, a financial advisor can put a drag on your investing portfolio.
If you decide to work with a financial advisor, find a fee-only financial planner who provides unbiased advice – since they aren’t driven by commission.
Financial planning while young—especially in your 20s—is key to future success and financial security. Here are some steps to establish strong fiscal habits:
Firstly, map out your financial goals. Do you anticipate student loans, a mortgage, or potential investments?
Secondly, budget diligently to save more money early in your career.
Next, consider eliminating outstanding debt quicker by applying saved money from part-time or full-time employment.
Lastly, explore investments such as mutual funds and stocks for optimal use of leftover money after bills are paid.
Remember, according to a study of 30,000 college graduates, 70% never took a personal finance course—making self-education critical.
Use These Personal Financial Tips for Young Adults
In conclusion, managing personal finances is a vital skill that unfortunately is not emphasized enough in our educational institutions.
It’s critical for young adults – you – to learn this skill to establish a strong financial foundation for their future. Especially if you are determined to become financially independent.
This begins by developing a sense of self-control and understanding the importance of delayed gratification.
Regularly monitoring your income and expenses, and adjusting your lifestyle to live within your means, is a crucial habit.
Additionally, the importance of starting an emergency fund and saving for retirement cannot be overstated.
By incorporating these financial tips into their lives, young adults can steer clear of unnecessary financial stress and ensure a secure and financially healthy future.
Take this Advice about Money
It is crucial to understand not just the mechanics of money, but also, the long-term implications of your financial decisions.
Take control of your financial future today, and you are sure to reap the rewards in the years to come.
Discerning financial advice from trusted sources, instead of relying on potentially misleading external influences, is also key. Remember, the sooner you start, the better off you’ll be in the long run.
Remember the data-driven fact: small changes in your everyday expenses can have as big of an impact on your finances as getting a raise.
Know someone else that needs this, too? Then, please share!!
On the northern Oregon Coast between Warrenton and Gearhart, near Astoria and Seaside, lies the gated community of Surf Pines, Oregon. Bordered by the Pacific Ocean on the west, and the peaceful Sunset Lake on the east, the residential community offers quite a few beautiful homes in a serene setting where quiet rural living meets fun beach life.
And a sleek three-bedroom home is looking to attract new residents to the area.
Recently listed for $1,250,000, the property was designed by Pacific Northwest architect Paul McKean, and reflects the respected architecture firm’s design vision.
“We believe that there is beauty in simplicity, and that good architecture improves lives and respects nature,” Paul McKean Architecture’s About Us page tells us, and the words could describe their Surf Pines, Oregon project to a T. “Our designs tend to be simple, efficient and materials-driven. This approach lends itself to smaller homes that are cost-effective, durable and energy efficient.”
Custom built for its current owner, the founder of Schoolhouse Electric (a high-end lighting and home goods manufacturer based out of Portland, OR), the architecturally distinct home offers panoramic views of the Pacific Ocean and of the area’s beautiful natural landscape through its western-facing, floor-to-ceiling windows.
Sitting on a one-acre lot, the elevated modern beach retreat offers 1,443 square feet, three bedrooms, and two baths.
Inside, an expansive great room brings together the living, dining, and kitchen areas, and is flooded with natural light thanks to its expansive windows. There’s also an adjacent patio that offers additional seating and a great spot to enjoy the views.
Envisioned for entertaining, the Oregon home features a primary bedroom with an attached bathroom, a large bunk room with a seating area, and a second guest bedroom and bathroom.
There’s also a second outdoor area to entertain guests underneath the upper-level patio and a fire pit with built-in benches next to the house. To top it all off, the beach is just a short walk away.
The Surf Pines, Oregon house is listed with JP Faherty, Matt Robinson, and Grant Ludwick of The Agency Bend.
More stories
Edward Cullen’s sleek glass house in Twilight is actually in Portland, Oregon
A Starship-like home in Idaho celebrates both the future & the past
What $23.5 Million buys you at The Summit Club, Las Vegas’ most exclusive residential community
This article originally appeared on The Financially Independent Millennial and was republished with permission.
In the US, REIT stands for Real Estate Investment Trusts. The real estate industry is booming, which is great news for real estate investment trusts as they grow further. Anyone seeking a career opportunity with a REIT company can enjoy hearing the news that there are plenty of jobs available. How many jobs are available in real estate investment trusts? What kind of roles are available in the REIT industry?
This guide will explain how many jobs are available, how these real estate investment trusts work, and much more.
What Are Real Estate Investment Trusts?
In the United States, there are more than 225 REITs with a combined market capitalization of over $1 Trillion. A real estate investment trust (REIT) is a public investment vehicle and listed on the Stock Exchange. Furthermore, investors can even buy REIT ETFs to spread their investments among many real estate asset classes.
A REIT owns and runs income-generating real estate and related assets. The REIT could own buildings including offices, hotels, resorts, and more. However, real estate bought by the REIT isn’t for future resale. Instead, the property owned by the REIT is for development. Then, the property gets used as part of the investment portfolio to generate income.
Investors can buy and sell these assets easily and at a low cost. REITs also have much better liquidity than traditional real estate investments. Listings for REITs are on the New York Stock Exchange, American Stock Exchange, and the NASDAQ.
Investing in REITs allows groups of investors to make real estate scale investments that otherwise wouldn’t be possible. Smaller real estate investors can get access to larger real estate investments by investing in a REIT.
As the REIT sector continues to grow and diversify, analysts predict that many more jobs will become available in the industry.
How Do REITs Work?
In 1960, Congress created real estate investment trusts. The aim was to give everyone the chance to benefit from investing in income-producing real estate. Investing in a REIT is the same as investing in any other industry. Investors buy stock and shareholders with real estate investment trusts pay the shareholders a share of the income.
When REITs were first created by Congress, there were a set of rules established that REITs must follow. All REITs must be modeled after mutual funds, treated by the Internal Revenue Code as a corporation, and widely held by shareholders.
In addition, REITs must primarily own or finance real estate, and own real estate with a long-term investment horizon.
The Internal Revenue Code stipulates that at least 75% of the corporation’s income is either from rent from real estate, real estate interest, or the sale of real estate assets. The corporation must have at least 75% of its assets in real estate and 95% of the corporation’s income must be passive.
Are REITs a Good Investment?
Anyone wanting to diversify their investment portfolio without increasing the risk too much should consider investing in a REIT. There is still some risk as no investment is perfect. However, there are some good benefits of growing wealth by investing in a real estate investment trust.
The way a REIT works means it doesn’t pay corporate tax. Dividend stocks often face double taxation at the corporate and individual levels. The good news is that REITs are not taxed at the corporate level which means they enjoy a huge tax advantage.
REITs must pay 90% of taxable income to shareholders. Many REITs often have a dividend yield of over 5%, but average stocks have a yield of less than 2%. This makes investing in a REIT ideal for anyone looking for income or more to reinvest.
Real estate values tend to keep growing over time. Thanks to this, many REITs can capitalize by selling valuable properties and using the capital elsewhere. Many REITs provide returns far exceeding the market thanks to these strategies.
REITs Are Ideal for Smaller Investors
Small real estate investors can invest in commercial real estate that would otherwise be inaccessible. Most people can’t buy an office tower or shopping center themselves. Thanks to the creation of REITs by Congress, now anyone can invest in these types of buildings and enjoy receiving a return from them.
A sound financial plan means having a diverse investment portfolio. REITs work just like investing in the stock market, but instead of equities, it’s real estate. Investment advisors recommend owning real estate in an investment portfolio as real estate usually keeps its value even in an economic crisis. Investing in a REIT often means having a steady income.
If someone owns real estate, then it can take a while to sell. However, a REIT investment is easy to buy or sell at the click of a button. Having this level of liquidity makes REIT an attractive proposition.
Real Estate Industry Job Statistics
According to the United States Department of Labor, the need for real estate brokers and sales agents continues to grow. Average wages in the industry are $51, 220 per year with hundreds of thousands of people employed in the industry across the US.
In the REIT sector, average wages far exceed that of real estate brokers. The average analyst earns $106,412 per year which is more than double the amount of real estate brokers and sales agents.
There are 274,000 employees employed on a full-time basis by REIT organizations. An estimated 2.6 million full-time jobs get created indirectly by the real estate investment trust industry.
The good news for anyone seeking a career working for a REIT company is that growth is happening. This means plenty of employment opportunities and the ability to command a significantly higher wage than other parts of the real estate industry.
Types of Jobs Involved with REIT’s
There’s a wide range of jobs available in the REIT industry. To understand this better, here are the job descriptions of the main roles that are available.
Development Roles
Development is responsible for building new projects. Working in this role is ideal for anyone that is looking for project management work. As well as developing new projects this role also involves working with others to finance the development.
Jobs in development are highly sought after as they pay well, are challenging, and highly respected.
Acquisition Roles
An acquisition job is a role that involves sourcing new investment opportunities. And, these roles make sure that deals get done. Further, these roles are in REITs and pay well. The work is heavily finance-related and suits anyone with a degree or background in finance, marketing, business, or capital markets.
Property Management Roles
Property managers are responsible for overseeing the operation of a property–leasing, maintenance, collections, and anything else as required.
There are no minimum requirements to becoming a property manager. Ideal candidates include those that can handle a variety of situations and have good project management skills.
Starting as a property manager in a REIT company is often a great opportunity. This is because when other roles become available within the organization, there’s a good chance for career progression.
Asset Management Roles
Asset Management looks after the operational and financial health of the real estate investment portfolio. An asset manager needs to manage the client assets in line with the investment goals and agreed preferences. Asset managers develop, organize and maintain client portfolios.
A good asset manager will need to be capable of working with a variety of other teams. Acquisitions, accounting, development, and finance all interact with asset managers to work together on achieving results. At the same time, the asset manager must ensure compliance with the SEC, REIT regulations, and Sarbanes-Oxley.
It’s not unusual to start out working in acquisitions or property management, then move up to become an asset manager. Alternatively, anyone with the skills should be able to land an asset management role straight away.
Investor Relationship Roles
Investor Relations are responsible for coordinating and handling all communication with REIT shareholders. The role pays well and is ideal for anyone coming from a finance or accounting background.
The investor relations team will organize the annual meeting and meeting documents which include the annual report and proxy statement. And, all this must get done in accordance with SEC regulations.
Anyone with a background in accounting or finance would make a good candidate to apply for this role.
How Many Real Estate Investment Trust Jobs Are Being Created?
Data from LinkedIn shows that there are currently over 1000 jobs available in the REIT industry. That’s just one site and a great indicator there is lots of opportunity in the field.
The REIT industry is a sector that is growing fast. As well as needing investors, many other support roles need filling regularly.
Conclusion
The real estate investment trust industry is already sizable and continuing to grow. Working for a REIT company means following strict protocols for reporting and regulations. Many of the real estate investment trust jobs available require the applicant to have a background in accounting or finance.
However, other roles are available that don’t have these restrictions. Once working in a REIT organization, it’s then possible to move up to other roles should one become available.
Borrowers commonly ask, “How soon can I get a HELOC after purchasing a house?”
And the answer is simple answer: You can apply for a home equity line of credit (HELOC) the minute you close on your house purchase, without any legal or regulatory waiting time.
However, there are practical issues that mean many recent homeowners cannot apply that quickly. And in this article, we’ll explore those issues so you’ll know when you can get a HELOC.
Check your home equity loan options. Start here
In this article (Skip to…)
How soon can I get a HELOC or home equity loan?
So, what stops some recent homeowners from getting a HELOC (or its big brother, the home equity loan, aka HELoan) straight after closing? It’s something called the “combined loan-to-value ratio” (CLTV).
People who’ve owned their homes for several years or for decades are rarely affected by this. But those who have more recently become homeowners can find it an unsurmountable obstacle to home equity borrowing.
“The average U.S. homeowner now has more than $274,000 in equity — up significantly from $182,000 before the pandemic.” — Selma Hepp, Chief Economist for CoreLogic, June 2023
“Combined loan-to-value ratio”
HELOCs and HELoans are both forms of second mortgages. And that means they’re secured on your home.
But lenders of mortgages and second mortgages have strict rules about the proportion of a home’s market value that can be secured borrowing.
Often, a HELoan lender requires an 80% CLTV. That means all your borrowing secured by your home — your first (main) mortgage plus any second mortgage(s) — can’t exceed 80% of the home’s market value.
Home equity is the inverse of CLTV. It’s the amount by which your home’s value exceeds your mortgage balance. So, an 80% CLTV means a 20% equity stake. And a 90% CLTV means you have 10% equity.
How do you calculate how much equity you have?
Suppose you’re buying your home now and it’s worth $400,000. And let’s assume you’re making a 20% down payment.
That down payment would be $80,000 ($400,000 x 20% = $80,000). So, your mortgage balance would be $320,000 ($400,000-$80,000 or 20% = $320,000).
So, you’d have 20% equity, which means an 80% CLTV.
Example of how your CLTV might move
Of course, rising home prices would mean your home’s market value increases. And your mortgage payments will (slowly at first) reduce your mortgage balance.
Naturally, those will change your CLTV. Indeed, there are times when it could change daily.
Let’s continue with our earlier example. Suppose home prices increased 20% during your first year of owning the home. The home’s value would increase to $480,000 ($400,000 + 20% = $480,000).
And your mortgage balance would reduce by perhaps $3,750 that year as a result of your monthly payments. Read about amortization to discover why most of your monthly payments in the earlier years of your mortgage go on interest.
So, your CLTV would be calculated based on a home value of $480,000 and a mortgage balance of $316,250. That’s $316,250 ÷ $480,000 = 65.9% CLTV. Looked at another way, your home equity would be 34.1% (65.9% + 34.1% = 100% of your home’s value).
In those circumstances, you could borrow a HELoan or HELOC that would take your CLTV up from 65.9% to the 80% cap. That’s 14.1% of your home’s market value (80% – 65.9% = 14.1%).
We know that the value is $480,000. And 14.1% of that is $67,680, which is the amount you could borrow. ($480,000 x 14.1% = $67,680).
Check your home equity loan options. Start here
How soon can I get a HELOC? It mostly depends on how quickly home prices are rising
You witnessed home prices rising as a nationwide average at more than 20% a year for a while. But more recently, they’ve been rising much more slowly. For example, according to the Federal Housing Finance Agency house price index, they increased by 3.1% during the year ending April 2023.
Naturally, the slower home prices rise, the longer it will take for you to build equity in your home. And, to answer our original question, “How soon can I get a HELOC?”, that will take longer, too.
It’s not always an 80% CLTV cap
One more thing on this topic. Most HELoan lenders prefer an 80% CLTV. But you might find one that’s a bit more flexible; 85% CLTVs are fairly common.
However, HELOC lenders tend to be easier going. And you might be able to find one of these lines of credit with a CLTV as high as 90%.
How soon can I get a HELOC after applying for one?
The closing process on a HELOC varies widely depending on your lender’s requirements, how busy it is, and the complexity of your case.
You’d be very lucky for it to take less than 15 days but unlucky for it to take much more than 45 days. That’s roughly two-to-six weeks from your making your application to your getting your money.
It’s mostly similar for home equity loans. But it may be rarer to close in 15 days and less unusual to do so in more than 45 days.
Check your HELOC or home equity loan options. Start here
What is a HELOC?
Think of a HELOC as the mortgage version of a credit card.
It’s like a card because you’re given a credit limit and can borrow, repay and borrow and repay again as often as you want up to that limit. And you pay interest (mostly at a variable rate) each month only on your then current balance.
However, a HELOC is better than a credit card for a few reasons. Most importantly, its interest rate is likely to be a fraction of a card’s.
And you’re under no obligation to pay back any of your balance until you’re ready to do so. Your minimum payment is purely the interest for that month.
Pick the right time
Another difference from a card is that your HELOC is time limited. You can largely choose how long you want it to last, up to 30 years. But the account will end one day. And you will eventually have to zero the balance.
To make sure you can do that comfortably, HELOCs are divided into two phases. During the first, the “draw period,” you can borrow up to your credit limit at will. But then you enter the repayment period.
And then you can’t borrow any more. Instead, you must repay the loan (including new interest) in equal monthly installments. If that’s an issue at the time, you may be able to refinance your HELOC.
As we said, you largely get to choose how long your draw and repayment periods last. Each commonly exists for five or 10 years, but 15 years isn’t unknown. So, altogether, you could have your HELOC for up to 30 years.
To keep down borrowing costs, you should choose the shortest period that you’re confident you can comfortably manage. But affordability must be your first priority. So take as long as you need.
If you’re wondering if it’s a good idea to get a HELOC, you must have enough equity in your home to meet the lender’s requirements. And you’ll likely need a credit score of 620 or better, an existing debt burden that’s not too onerous, and a steady source of income.
What is a home equity loan?
A HELoan is much easier to get your head around than a HELOC. There are no draw and repayment periods: it’s a straightforward installment loan, typically with a fixed interest rate.
In other words, you get a lump sum on closing. And you repay it in equal monthly installments. So, budgeting for one of these couldn’t be more simple.
Verify your home equity loan options. Start here
They typically have loan terms ranging from 10 to 30 years. You can deduct interest paid on this loan type, but only when using funds to buy or build a property or “substantially improve” a property you already own.
Pros and cons of tapping home equity
Here are some important pros and cons of tapping your home equity:
Pros
Home equity products are among the least costly forms of borrowing
These are “any-purpose” loans, meaning you can use the money any way you want
You may get tax deductions if you use home equity borrowing to improve your home
Tapping home equity means you don’t have to refinance your entire mortgage. After recent rate rises, you’ll probably want to leave your main mortgage’s low rate in place
Pick the HELoan or HELOC term that you find affordable: usually, from five-to-30 years
Choose between the predictable HELoan and the flexible HELOC
Cons
HELoans and HELOCs are second mortgages. So, your home is at risk if you fail to keep up payments
People with uber-high credit scores may be able to find personal loans with rates that rival home equity products. Grab one if you can (see Con 1). But very few qualify for such low rates
Find your lowest HELOC rate. Start here
The bottom line
The average American homeowner has $274,000 in equity as of the Q1 2023, according to CoreLogic. Tapping a HELOC or HELoan are among the least costly ways of borrowing.
Most of those average homeowners would see their applications approved because it’s not hard to qualify for a HELOC or HELoan. They could get their money in roughly two-to-six weeks.
However, those who became homeowners in recent years may have to wait to qualify. That’s because they need enough home equity to secure their new borrowing while leaving an equity cushion to protect their existing first mortgage.
If you’re ready to tap your home equity, let us help. We’ll introduce you to lenders that can offer you competitive quotes.
Time to make a move? Let us find the right mortgage for you
From Chicago’s iconic skyline and world-class museums to historic landmarks like Abraham Lincoln’s home and the picturesque Starved Rock State Park, there are plenty of reasons to consider moving to Illinois. If Illinois sounds like the state for you, then you may also be curious about what cities fit into your budget. For example, the median home sale price in Illinois is $319,999 as of July.
Don’t worry if that price doesn’t fit in your budget – we’ve got options to help you find a home or apartment that does. Redfin has rounded up a list of 12 of the most affordable places to live in Illinois – and they all have a median home sale price under $319,999. Let’s find out which cities made the list.
#1: Decatur
Median home price: $112,000 Average sale price per square foot: $70 Median household income: $45,404 Nearest major metro: Springfield (40 miles) Decatur, IL homes for sale Decatur, IL apartments for rent
With a median home sale price of $112,000, Decatur comes in at number one on our list of most affordable places to live in Illinois. There are about 70,500 residents living in this mid-sized city. If you’re considering moving to this area make sure to visit Nelson Park where you’ll find a restaurant, amphitheater, and views of Lake Decatur, check out Rock Springs Conservation Area, and stroll along the trails at Fairview Park.
#2: Peoria
Median home price: $160,000 Average sale price per square foot: $93 Average rent for a 1-bedroom apartment: $675 Median household income: $51,736 Nearest major metro: Chicago (160 miles) Peoria, IL homes for sale Peoria, IL apartments for rent
Coming in as the second most affordable city to live in Illinois is Peoria. When living in this city of 113,100 people, you can explore Laura Bradley Park and the Forest Park Nature Center, check out the riverfront and downtown Peoria, and visit museums like the Peoria Riverfront Museum.
#3: Springfield
Median home price: $169,000 Average sale price per square foot: $104 Average rent for a 1-bedroom apartment: $725 Median household income: $54,164 Nearest major metro: St. Louis (96 miles) Springfield, IL homes for sale Springfield, IL apartments for rent
About 114,400 people reside in Springfield, located in central Illinois. The median home sale price is $169,000 which is about $150K less than the median home sale price in Illinois. Make sure to visit the Illinois State Capitol building and check out historic sites like Lincoln Home National Historic Site, Abraham Lincoln Presidential Library and Museum, and Dana-Thomas House State Historic Site. You can also spend the day at Lake Springfield if you move to the third most affordable city.
#4: Champaign
Median home price: $219,000 Average sale price per square foot: $138 Average rent for a 1-bedroom apartment: $876 Median household income: $51,736 Nearest major metro: Springfield (86 miles) Champaign, IL homes for sale Champaign, IL apartments for rent
Only slightly more expensive than Springfield is Champaign, the next city on our list. With roughly 88,300 residents in Champaign, make sure to check out one of the parks like Kaufman Lake, explore downtown Champaign, and visit the University of Illinois Urbana-Champaign campus.
#5: Normal
Median home price: $245,500 Average sale price per square foot: $106 Average rent for a 1-bedroom apartment: $1,100 Median household income: $51,736 Nearest major metro: Peoria (38 miles) Normal, IL homes for sale Normal, IL apartments for rent
Consider adding Normal to your list of cities to check out to if you’re looking for an affordable place to live in Illinois. With 52,700 people living in this affordable town, you can check out the Illinois State University campus, and visit some of the historic spots and parks in town.
#6: Bloomington
Median home price: $258,750 Average sale price per square foot: $106 Average rent for a 1-bedroom apartment: $890 Median household income: $66,861 Nearest major metro: Peoria (38 miles) Bloomington, IL homes for sale Bloomington, IL apartments for rent
Another noteworthy city is Bloomington, where you’ll find the home prices are about $60K less than the state’s average. Bloomington has about 78,700 residents and is a great city to consider buying a home this year. There are lots of activities to do in this city. You can visit the museums and historic spots like the McLean County Museum of History and David Davis Mansion, check out Miller Park and the Miller Park Zoo, and golf at one of the courses, among many other local favorites.
#7: Oak Lawn
Median home price: $267,500 Average sale price per square foot: $174 Median household income: $69,352 Nearest major metro: Chicago (25 miles) Oak Lawn, IL homes for sale Oak Lawn, IL apartments for rent
Next on our list of affordable places to live in Illinois is Oak Lawn. With a population of close to 58,400, Oak Lawn is a great area to live in that’s not nearly as big as the major metropolitan cities in Illinois. It’s also conveniently located just southwest of Chicago. So, if you find yourself moving to this city make sure to explore the Wolfe Wildlife Park where you’ll find trails and nature preserves, and check out the local restaurants.
#8: Cicero
Median home price: $283,750 Average sale price per square foot: $172 Median household income: $53,726 Nearest major metro: Chicago, IL (9 miles) Cicero, IL homes for sale Cicero, IL apartments for rent
If you’ve lived in Illinois for a while, chances are you know of Cicero. This affordable city is home to roughly 85,300 residents and is only 9 miles west of Chicago. Living in Cicero, make sure to relax at Cicero Community Park, and check out the local shops and restaurants
#9: Joliet
Median home price: $277,500 Average sale price per square foot: $164 Average rent for a 1-bedroom apartment: $1,005 Median household income: $72,871 Nearest major metro: Chicago (48 miles) Joliet, IL homes for sale Joliet, IL apartments for rent
About 48 miles southwest of Chicago is Joliet. The population is about 150,400 and the area is a great place to consider moving to in Illinois. Some attractions in Joliet include visiting the Joliet Area Historical Museum, stopping by the Rialto Square Theatre, and checking out Historic Route 66.
#10: Aurora
Median home price: $287,500 Average sale price per square foot: $185 Average rent for a 1-bedroom apartment: $1,400 Median household income: $74,659 Nearest major metro: Chicago (42 miles) Aurora, IL homes for sale Aurora, IL apartments for rent
Claiming the 10th spot on our list of affordable places to live in Illinois is Aurora. This city has a population of 180,500 and you can visit the Aurora Regional Fire Museum, relax at Phillips Park Zoo, check out Aurora West Forest Preserve, or take in the riverfront views at McCullough Park. You’ll have plenty of activities to explore during your free time living in Aurora.
#11: Tinley Park
Median home price: $300,000 Average sale price per square foot: $163 Median household income: $82,163 Nearest major metro: Chicago (30 miles) Tinley Park, IL homes for sale Tinley Park, IL apartments for rent
The median home sale price in Tinley Park is $300,000, making it another great city to consider moving to this year. There are about 55,900 people living in this city, giving Tinley Park a city-like feel without the hustle and bustle. If Tinley Park is the city for you, be sure to see a concert at Credit Union 1 Amphitheatre, check out Centennial Park, and explore St. Mihiel Woods.
#12: Elgin
Median home price: $301,000 Average sale price per square foot: $176 Average rent for a 1-bedroom apartment: $1,800 Median household income: $72,999 Nearest major metro: Chicago (30 miles) Elgin, IL homes for sale Elgin, IL apartments for rent
In the 12th and final spot is the city of Elgin where the median home sale price is $301,00. If you’re looking to visit the nearest major city, Chicago is about 30 miles away from Elgin. There is plenty to do in Elgin like exploring the 160-acre Bluff Spring Fen nature preserve, checking out Walton Island Park, and visiting downtown Elgin and the riverfront area.
Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median home sale price in Illinois. Median home sale price and median sale price per square foot from the Redfin Data Center during July 2023. Average rental data from Rent.com July 2023. Population and median household income data sourced from the United States Census Bureau.
Second quarter results are in for proptech’s public companies.
Our last summary of results was Q2 2021. As part of launching our Crystal tier, we’re bringing the earnings radar back. This time, better than ever as an ongoing Biz Intel Series. We’re re-starting with the ten companies we deem as the most important players in the broader category:
Airbnb
Blend Labs
Compass
CoStar
eXp World Holdings
NewsCorp
Opendoor
Redfin
WeWork
Zillow
However, it’s likely we’ll add companies to the list in future editions—if there’s one you’d like to see covered, let us know.
Let’s get to the numbers…
Here’s what you can expect in the report, with our coverage of Blend Labs & Airbnb…
Airbnb saw 115 million nights and experiences booked, up 11% YoY, on top of more than 7 million active listings. That led to more than half a billion in net income, making it the most profitable company of those included—by a mile. Also, it’s worth calling out that 18% of all gross nights booked were long-term stays (28 days or more)—down from 25% a couple of years ago in Q1 2021, signaling digital nomadism being an important movement but not the end-all-be-all trend some predicted.
Market cap: 85.7B
Notable Takeaways:
$2.5 billion in revenue, up 18% YoY.
Net income of $650 million, a big uptick of 72% from a year ago. Net income margin came in at 26%, up 18% YoY.
Free cash flow was $900 million, which helped enable $2.5 billion in stock repurchases over the trailing twelve months.
Blend Labs exceeded company guidance on both topline and bottomline numbers. Revenue came in at $42.8M in Q2 2023, down 35% compared to $65.5M in Q2 2022. Net Loss was $41.2M.
Market cap: 349M
Notable Takeaways
Gross profit margin was approximately 55%, up from 39% in Q2 2022 primarily due to expansion in its Blend Platform.
Year-over-year Mortgage Suite revenue per transaction increased from $77 to $93.
Consumer Banking Suite revenue totaled $5.8M in Q2 2023, a YoY increase of 27%.
Professional services revenue increased 10% year-over-year to $2.2M.
Within the Platform segment, Mortgage Banking Suite revenue declined by 17% year-over-year, to $22.3M in Q2 2023.
Operating expenses decreased by $391.8M from Q2 2022 due to the impairment of intangible assets and goodwill caused by the acquisition of Title 365 from Mr. Cooper Group. Excluding that transaction, operating expenses decreased 16.7% from Q2 2022 to Q2 2023.
Learn more: Press Release
Want to see the other eight company summaries? You can read it in its entirety, free of charge, by subscribing to GEM Crystal today at our special introductory pricing of $9.99 per month or $99 per year (good for the first 250 subscribers). Plus, there is a 21 day free trial. So, there is absolutely no risk…
Read Full Company Summaries
The ten companies covered represent a combined $152.46 billion in market capitalization. It was a mixed bag of wins and losses in Q2: six lost money on a quarterly basis, and only two generated Net Income of more than $100 million.
Read Company Earnings & Market Cap Table
Most notably though, WeWork is in dire straits. Despite a small YoY revenue bump, the firm said it would need to cut its own rent costs, further boost revenue, reduce expenses, and attract more capital to continue.
With the CoStar/Realtor.com acquisition falling through in Q1, both companies reported small YoY losses. What was meant to be a shot in the arm to take on Zillow as residential category king, now means both companies are forced back to the drawing board to determine how to reach buyers, sellers, and renters.
Airbnb came out Q2’s big winner, furthering its stronghold as proptech’s unquestioned leader.
We’ll check back in Q3 to see if WeWork can pull a rabbit from its hat.