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Home Warranty of America prioritizes environmentally friendly solutions and provide coverage for every home, individual, and state.

While Home Warranty of America is headquartered in Illinois, the company provides coverage for all fifty states in the US.

They have more than 20 years of experience with delivering affordable coverage solutions to homeowners with great energy efficient upgrade options.

Home Warranty of America Overview

Home Warranty of America started in 1996 and is now one of the leading providers of home warranties.

Below is a review of their coverage, plans, pros and cons, to help you make an informed decision.

Coverage Features

Home Warranty of America provides comprehensive coverage for all of your home repair needs, putting them among our top picks for home warranties.

If you encounter problems with anything covered under your home warranty, they’ll send someone out to help right away. Some of the common coverages they offer are listed below.

Ductwork

Your ductwork circulates hot and cold air throughout your house. It keeps you warm in the winter and cool in the summer.

Without it, your house would feel stuffy with stale air.

If something is wrong with your ductwork, you can file a claim with Home Warranty of America to have it inspected and fixed so you can get back to your normal life.

Water Heater

When it comes to doing dishes or taking a bath, you need hot water. Your water heater provides your home with the water you need to go about daily living.

When your water heater is on the fritz, Home Warranty of America can send someone out to inspect and fix it quickly so you can go back to showering every day.

Electrical System

Whether you like to make a light breakfast every morning in your toaster or read with a lamp by your bed at night, you need electricity.

Electricity flows through your electrical system just like air flows through your ducts.

You need it every day to enjoy most of your home’s features. When the lights go out, Home Warranty of America will be there to turn them back on.

Doorbells, Burglar Alarms, and Fire Alarms

One unique coverage feature from Home Warranty of America is doorbell, burglar alarm, and fire alarm options.

Most home warranty providers don’t cover these systems, but Home Warranty of America does.

For your safety and the safety of your home, this coverage goes above and beyond other home warranty solutions.

Home Appliances

Your home appliances do all sorts of things for you. Your refrigerator keeps your food cold, your microwave heats up leftovers, and your dishwasher gets everything clean when you’re done.

Other covered appliances include your garbage disposal, range, cooktop, oven, and trash compactor.

To make life easier for you, Home Warranty of America covers all these items.

Warranty Plans

Home Warranty of America provides comprehensive plans at low prices so you can have the peace of mind you need.

Their choice of $75 or $100 service fee saves you money over hiring your own contractor to diagnose and fix the issue outside of a home warranty plan. Pricing varies by state.

Premier Plan

 The Premier Plan includes coverage for the following:

  • heating system and furnace
  • ductwork
  • plumbing system and stoppage
  • toilet
  • permanent sump pump
  • water heater including tankless water heaters
  • instant hot water dispenser
  • whirlpool bathtub
  • electrical system
  • ceiling fans and exhaust fans
  • doorbells, burglar alarms, fire alarms
  • central vacuum
  • dishwasher and garbage disposal
  • built-in microwave, range, cooktop, and oven
  • trash compactor, garage door system, kitchen refrigerator with ice maker, and clothes washer and dryer.

Premier Plus Plan

 The Premier Plus Plan includes everything in the Premier Plan, plus the following:

  • air conditioning system
  • increased toilet replacement
  • plumbing fixtures
  • faucets
  • showerheads

The Good

Home Warranty of America not only provides excellent coverage options, but they have several additional benefits that customers will enjoy if they sign up.

Nationwide Coverage

With a name like Home Warranty of America, you would expect them to cover every state in the US, and they do. They even cover the District of Columbia.

Anyone in the United States can rest assured that as long as they find a plan and pricing they like, they’ll qualify for coverage.

Easy Quotes

While price varies based on state, it’s easy to find, and they provide an easy-to-read format for anyone interested in a home warranty plan.

They offer coverage for homeowners, real estate professionals, buyers, and sellers. You’ll see a list of your covered services and your payment options so you can make an educated decision.

Online Tips

Home Warranty of America offers an extensive list of home maintenance tips as well as information about home warranties and how they work.

This provides a great benefit for any homeowner who might want to troubleshoot the problem themselves before paying the service fee. For a do-it-yourself approach to home ownership, Home Warranty of America can help.

GreenPlus

Home Warranty of America provides GreenPlus to customers who choose to add it to their plan.

It can help cover the cost of appliances that should be replaced with Energy Star appliances including refrigerators, dishwashers, washing machines, and more.

Home Warranty of America’s membership with the Ethical Directory and United States Green Products makes this benefit possible.

Online Claims

Home Warranty of America makes it easy to submit a claim anytime. Their easy online claims section allows you to request a repair or replacement whenever it’s convenient for you.

Just fill out the form and send it for review, and you’ll be met with a quick response from the company.

No Inspections

No matter what your house looks like, how big it is, or the age, you will qualify for coverage with Home Warranty of America.

They won’t require an inspection to cover your home or the appliances within, so you get the peace of mind you need when buying a home or trying to protect your home from normal wear and tear.

The Bad

As with any company, there are some downsides to what Home Warranty of America offers.

Customer Service

They don’t have great customer service options. The only way to submit a claim is online, so while it’s easy to do, some customers may feel that the lack of a mobile option prevents it from being convenient.

When contacting customer service, you have live chat, phone, and email options, which seems fine until you realize that it’s not 24 hours a day like some other providers offer. However, when they are available, it’s easy to hop on a chat session when you need help.

Contractual Obligation

Home Warranty of America requires that all customers sign a one-year contract. Other providers will let you go quarterly or even month-to-month.

With Home Warranty of America, you’re locked in for a year whether you like the services or not.

If you don’t want to sign a long-term contract, it’s not a great option for you.

Alternatives to Home Warranty of America

As you shop for the perfect home warranty company, take a look at some of Home Warranty of America’s top alternatives.

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The Bottom Line

Home Warranty of America provides extensive warranty plans with add-on options to help you customize your offering.

The prices are low, but they do require you to sign a one-year contract. Their GreenPlus plan is an excellent choice for the economically-minded individual and a fantastic way to get a discount on new appliances.

If you’re in the market for a home warranty, Home Warranty of America is available to all individuals in all fifty states including the District of Columbia.

They also have options for real estate professionals, buyers, sellers, and existing homeowners.

Source: goodfinancialcents.com

Apache is functioning normally

Commuting to work is one of the top things people consider when looking for an apartment. A long commute adds stress to your life. You sit in traffic, you use a substantial amount of gas, and you have far less free time than you would with a shorter commute. Moving closer to work makes life so much easier, but make sure you take all factors into account when apartment shopping based on your commute.

A move for shorter commuting

Switching neighborhoods to make your commuting time more tolerable is a great call. However, in order to ensure that you aren’t adding a different kind of stress, you need to ask yourself a few questions.

  • Is the new neighborhood safe?

Look into the crime rates in the neighborhood you are considering. You don’t want to jeopardize your safety for a shorter commute; it’s simply not worth it.

  • What’s the cost-benefit analysis?

Do a cost benefit analysis to see what your long commute is costing you. You want to look at the full cost of additional mileage on your car, including general wear and tear, depreciation, the cost of more frequent oil changes and repairs AND the cost of gas. Be realistic when figuring your gas costs, by learning the mileage your car gets. Talk to your accountant, if needed, about the wear and tear factor.

  • What’s the cost effectiveness of the move?

Once you know what your commute to work actually costs (and what it might cost in a new neighborhood), you can compare that to rent prices. See what the rent prices are in the neighborhood you’re considering. Even if a place has higher rent, you may still be coming up on top because your car expenses would be so much less.

The commuting drive-time test

Online maps are one way to get a general idea of your drive time. But these don’t take traffic into account. You want to make sure your shorter commute will actually save time. A new neighborhood may make your commute a few miles shorter, but if you’re not saving any time because you’re stuck in traffic day in and day out, it’s a wash. Give your commute a try from your new neighborhood. How is rush hour traffic? Are you still saving time even during peak driving times?

Many folks like proximity to a freeway when considering a new neighborhood. But back roads may get you to work faster. When you’re doing your drive tests, see if there is a route for you to avoid the major freeways. This could save you time and sanity.

RELATED: Walking to work as a lifestyle

RELATED: Create an emergency kit for your car

The benefits of a shorter commute

There are so many benefits to having a shorter commute: less stress, since you won’t be spending nearly as much time on the road in traffic; less money, in gas and car upkeep; time, as you’ll have more time to yourself each day. There are many perks to cutting down your commuting time.

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After a long hard day at work, the last thing you want to do is deal with traffic and a long trip home. Traffic is stressful and can be dangerous as well. Why not take one less stressor out of your life? A shorter trip home will not only impact your sanity but your pocket book too.

Apache is functioning normally

With the recent rise in gas prices, many people have been looking for ways to save money on gas. These efforts usually fall into two categories; reducing your fuel consumption, or finding a way to pay less. Realizing that because of the various uses for crude oil, gas prices are somewhat out of our control (especially if our only weapon is a gas boycott), we are limited in how we can reduce the price that we pay. Paying less for gas is really just a matter of either finding the lowest priced gas stations in your area, or using various credit card benefits to get cash back.

However, it is in the area of reducing fuel consumption, where people can get very creative. Unfortunately, some of these techniques can actually cost you money or make your drive more dangerous. Recently, Investopedia published an article outlining some of these methods. I thought it would be interesting to see which fuel saving techniques they highlighted and what they had to say about each one.

They are listed below, with my feedback beneath each one. Be sure to leave your comments below.

Save Money On Gas? Not With These Techniques!

Devices To Increase Airflow

The Theory: High-tech devices designed to increase your engine’s airflow will improve fuel efficiency.

The Facts: It sounds plausible, but the results don’t back up the impressive claims. Consumer Reports tested several of the devices, such as Fuel Genie ($89.95, plus shipping), that purport to increase fuel economy by accelerating airflow to the engine. The tests found no noticeable gains in MPGs, despite claims of 50% fuel savings. While it’s true that drastically increasing the airflow to an engine is a common way to increase horsepower (i.e. forced induction through turbo and superchargers), doing so will actually increase fuel consumption and increase wear on the engine, not to mention that this proven technology costs significantly more than its gimmicky competition.

I have to admit that I have never gotten so much into fuel efficiency that I’ve researched or purchased an airflow gadget. However, I know that some people have been willing to make significant investments in these types of gadgets in order to increase their miles per gallon.

If the problem of increasing the wear on your engine is true, then these gadgets will end up costing a lot more than what you pay for gas!

Fuel Additives

The Theory: The gas we buy can be improved by adding scientifically formulated chemicals that will increase fuel efficiency and, sometimes, horsepower.

The Facts: Clearly, some drivers believe the answer to their fuel woes lies in a magic elixir, because there are numerous fuel treatments that claim to increase MPGs, despite no scientific proof or explanation of how less fuel is burned. According to CNN.com, one common tactic used by shady fuel-additive makers is to tout the product’s approval by the Environmental Protection Agency (EPA). This suggests that a trusted consumer watchdog has approved the product’s claims, but in fact, the EPA had only deemed that the product does not increase a vehicle’s harmful emissions. The truth is, if there were an additive that made fuel burn more efficiently, oil companies would be racing to market their new gas at the pumps and gain a bigger market share.

I used to add a fuel treatment to my car every 3,000 miles. I never noticed a difference in how the car ran, or in the fuel efficiency, but I just figured it was because I wasn’t paying close enough attention.

I think that the worthless EPA approval is pretty deceptive. The average person would think that the claims to improve fuel efficiency have been tested and proven to be true; however, it just means that it won’t increase your emissions!

I don’t think I’ve purchased this stuff since we got our new car over 3 years ago, but I always had a supply in my trunk before that!

Premium Gas

The Theory: Premium gas provides increased performance and better gas mileage.

The Facts: This is true … if you own a premium automobile that requires high-octane gas, but these cars make up the minority of daily drivers. So if you’re in the majority – drooling over Ferraris from the seat of your Corolla – your car’s engine control unit (ECU) is programmed to run on the octane levels present in regular gas. Increasing the octane – either through buying premium gas or adding bottles of octane-boost – can actually cause the engine to be less efficient, as the car’s combustion timing becomes altered and efficiency is lost. But the most noticeable loss will be the extra 20 cents per gallon you’ll be wasting to buy high-octane gas. A safe bet is that if you can afford a vehicle that requires only premium fuel, you likely aren’t concerned with gas prices or tracking mileage.

This is one I’ve always known about. I think the only time I ever purchased anything higher than regular was when the gas station ran out, and they charged the same price as regular.

Once in a while I would come across people who swore by a higher octane, but they could never tell me why. It was just another case of, “it costs more, so it must be better”!

I love what the article said at the end of this…it’s very true. If you can honestly afford a car that needs a higher octane, you probably aren’t worried about your MPG as much as most.

Over Inflating Your Tires

The Theory: Rounder tires roll easier, creating less work for the engine and therefore, better MPG.

The Facts: Again, this tip is true … to a point. Over inflated tires will have less friction with the road, which lessens the effort the engine exerts to keep the car rolling, providing slight gas savings. However, overinflated tires will wear out quickly and irregularly, causing you to need early replacements at a cost of about $50 to $100 per tire. What’s worse is that the decreased contact with the road increases stopping distances and limits handling capabilities. This all adds up to a large risk in costly accidents and injuries. Even if you are lucky and avoid a collision, it would take a lifetime (which could very well be short if you’re riding on bald and bulbous tires) for your fuel savings to negate the cost of four new tires. According to Edmunds.com’s testing, the fuel consumption difference between driving with over-inflated tires and tires at the recommended pressure is negligible. Sometimes, despite what GM’s recent track record suggests, carmakers do know what they’re doing and the recommended settings and levels do provide the best results.

I’ve actually never heard of this trick. It just seems so dangerous, because you have less of your tire making contact with the road – meaning it is more difficult to brake! Even if the increase in MPG were substantial, I would not feel comfortable doing something this dangerous!

I think that the cost of your new tires and the increased risk of being in an accident, would easily negate any gains you have from buying fuel less often.

Roll Down The Windows Rather Than Using Air Conditioning

The Theory: Operating the AC to cool the vehicle uses fuel, so it’s more efficient to cool off by driving with the windows down.

The Facts: While it’s true that some fuel is used to operate the AC compressor, as much or more fuel is lost when the windows are down. Rolling down the windows increases the drag on the car, which causes the car to work harder to maintain its speed. For even better mileage, you can improve your AC’s efficiency by using the re-circulation setting on the car’s HVAC system instead of forcing the AC to cool the hot air from outside. Heeding this tip will increase your mileage, as well as your comfort.

This has been a subject of great debate for a while now. Many people – including me for a while – will drive on the highway with the windows down in the summer, in order to save money by not turning on the AC. Actually, I do it because I love fresh air and I didn’t want the AC to burn up gas. However, once you get over about 40 MPH, the drag on the car (from the air resistance) causes the fuel efficiency on your car to drop dramatically. Therefore, if you are driving on the highway, you will burn less gas by using the AC and keeping the windows up.

Now, I just have to weigh this fact against my need to feel comfortable. I am one of the few people who I know are more comfortable with air blowing on my face in the summer, than having the “conditioned” air blowing on me. If gas prices continue to increase, I may have to get used to running the AC (on the lowest setting, or course).

Reader Questions

  1. What methods have you implemented in order to save money on gas?
  2. How often do you think about rising gas prices?
  3. What are some common myths that you’ve heard about saving money on gas?

Related Posts

Source: biblemoneymatters.com

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Last Updated on February 25, 2022 by Mark Ferguson

The FHA 90-day flip rule has caused me delays on a few flips this year. The rule basically says that FHA financing is not allowed on a house for new buyers that was purchased fewer than 91 days ago by the current owner. If you buy a house, fix it up, and try to sell it to FHA buyers, you will have to wait until you have owned the house for 90 days before you can even accept a contract from those buyers. There are some exceptions for certain sellers—like banks and builders—but for flippers, it is almost impossible to get around this rule.

What exactly does the FHA 90-day flip rule say?

It used to be that the buyer could order a second appraisal to bypass the FHA 90-day flip rule, but that changed in 2014. If you are selling a flip that has a huge difference from your buying price and the selling price (close to double), you still may have to order a second appraisal, even after the 90 days.  

Exceptions to FHA property flipping restrictions are made for:

  • Properties acquired by an employer or relocation agency in connection with the relocation of an employee.
  • Resales by HUD under its real estate owned (REO) program.
  • Sales by other U.S. government agencies of Single-Family Properties pursuant to programs operated by these agencies.
  • Sales of properties by nonprofits approved to purchase HUD-owned Single Family properties at a discount with resale restrictions.
  • Sales of properties that are acquired by the seller by inheritance.
  • Sales of properties by state and federally chartered financial institutions and Government-Sponsored Enterprises (GSE).
  • Sales of properties by local and state government agencies.
  • Sales of properties within Presidentially Declared Major Disaster Areas (PDMDA) only upon issuance of a notice of an exception from HUD.
  • The restrictions listed above and those in 24 CFR 203.37a do not apply to a builder selling a newly built house or building a house for a borrower planning to use FHA-insured financing.

How do you handle an FHA contract that comes in before you have owned a property for 90 days?

I sold a flip earlier this year on which we actually got a contract before I had owned it 90 days. I have had up to 22 flips going at one time this year, and it is rare that I get a house repaired fast enough to list it for sale before I have owned it 90 days. However, I bought this house from my direct marketing campaign, and it did not need much work, which allowed me to get it fixed quickly. Here were the numbers on the house:

  • Purchased for $120,000
  • Repairs were about $20,000
  • Carrying costs were about $12,500
  • Buyer closing costs of $3,000
  • Selling price of $213,000
  • Total profit of about $57,500

This was one of my best flips of the year, especially considering I made this much on a low-priced property. I actually thought it would sell for a lot less when I bought it, but our market has been tremendous this year. We did run into some hiccups on this property because of the 90-day flip rule. I bought it on July 28th and listed it on September 22nd. We listed it for $199,900 and immediately received a $210,000 offer. I was ecstatic until the buyers’ lender said they could not close on the house because of the 90-day flip rule. They were hoping to close in October, but because of the flip rule, it would actually have to close in December. That was a long time to wait, but it was a great offer, so I went forward with the deal.

The 90-day flip rule does not state that you cannot buy a house prior to the 90 days but rather that the entire loan process cannot start prior to the 90 days. Technically we are not supposed to write the purchase contract until the 90 days have passed. What we did was write a contract between the buyers and sellers, and then we wrote a brand new contract when the 90 days passed. At that point, the appraisal, underwriting, and loan approval can begin. Luckily, the appraisal came in at value, and we closed on December 11th.

Are there other ways to get around the 90-day flip rule?

There are some ways to get around the 90-day flip rule, including dumb luck. I sold a house earlier in the year to an FHA buyer who wrote the contract before I had owned the house 90 days. I used this sale as a reason for the lender why we should not have to wait the 90 days on the property I discussed in this article. The lenders’ response was the underwriter and lender must have both forgotten about the 90-day flip rule on that deal. There is no way it should have been under contract or sold before the 90 days, even with a 2nd appraisal. I got lucky on that property. You can also try to find a buyer that does not need to use FHA. Often, a conventional mortgage is actually better for buyers, but they need to have better credit and debt-to-income ratios to qualify for conventional. Most of our buyers use FHA loans, and they are willing to pay the most for our flips, so it makes sense to cater to them.

Conclusion

I usually do not have to worry about the 90-day flip rule because it takes me longer than that to get my houses ready to sell. It can be a thorn in an investor’s side when they are counting on a house selling quickly and they have to wait a month or two longer. Investors also need to be aware they may need a second appraisal with FHA loans if they try to sell a house for twice what they bought it for. Conventional mortgages do not always eliminate these problems either as many conventional lenders adopt FHA rules.

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Categories Fix and Flips

Source: investfourmore.com

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Last Updated on August 22, 2019 by Mark Ferguson

When I became a real estate agent in 2001, I was not a real estate investor. I focused on selling houses for and to people, but when I became an investor the license was a huge help. When I started investing in rental properties my real estate license saved me thousands of dollars on commissions and I found more deals. Now that I flip houses and buy rentals the license saves me hundreds of thousands of dollars a year in commissions. The license also allows me to find many more deals because I can act faster and pay more than other investors.

How can you become an agent?

I discuss how hard being a real estate agent in this article. You must take pre-licensing classes and then pass a test in most states to get your real estate license.

My assistant got his license through Real Estate Express, which also has a great licensing program in all 50 states. Real Estate Express also has some of the lowest prices I have seen, although I have not researched every real estate school.

Visit Real Estate Express

Why becoming an agent saves money

Being a real estate agent has helped me tremendously in my own investing strategy. I have purchased 20 long-term rental properties, and I am making at least 15 percent cash-on-cash returns on all of them. One of the reasons I am earning such high returns is that I save thousands of dollars on each transaction by being a real estate agent. I also do 20 to 30 fix and flips per year and save thousands of dollars on each of those transactions as well. I estimate that being a real estate agent saves me over $100,000 in commissions on my flips and rentals per year. That does not include the profit I made on deals that I would not have gotten if I were not an agent.

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How can you save on commissions?

If you plan to buy more than one or two rental properties per year get your real estate license! If you do nothing else with your license except buy your own rental properties, you will save thousands in commissions per year. On every rental property I buy, I save a ton of money because I am paid a commission as the buyer’s agent. The commission may be 2, 2.5, or 3 percent per deal, but in the end that adds up to a lot of money. If you buy three houses per year with an average price of $100,000, being a real estate agent can save you $7,500 to $9,000 per year.

If you fix and flip those houses, you will more than double your savings because you will save a commission when you sell the house as well. On a recent fix and flip, I bought the home for $105,000 and earned a three percent commissions as the buyer’s agent. I am going to fix and flip this property and most likely sell it for $160,000. When I list the home, I will save another three percent commission that I would have had to pay another agent. On this one deal, I will save $7,950 because I am a real estate agent.

How can you get better deals?

There are many other advantages to being an investor with a real estate license. Being an agent allows me to get more deals as well. Here are some other ways that having a license is a huge advantage:

Access to MLS

As a real estate agent, you have access to MLS and can do your own searches for properties without having to rely on an agent to find you the right deal. Having access to MLS gives investors a huge advantage because they do not have to wait for an agent to send them listings. I search for listings at least five times a day, and I routinely make offers on the same day a house is listed. An agent can also easily pull sold comparable information from MLS to calculate values on properties. Calculating accurate values is one of the most important things an investor needs to do in order to be successful.

Networking

As a real estate agent, you can fraternize with other agents and people in the real estate world. The more people you know in the business, the more people you can tell that you are looking for property. Sometimes the best deals are those that are brought to you, not the deals you find yourself. Let everyone you know that you are looking for investment properties and you never know what will turn up. I have purchased a couple of properties that were never listed on the MLS because of my contacts in the business.

Taxes

The IRS has limits on how much money you can deduct on rental properties if real estate is not your primary job. If real estate is your primary job, you may be able to deduct many more expenses. For more details, please see the IRS tax code.

Reputation

If you are a real estate agent that does many deals, most agents will know who you are. If you bring a good reputation for getting deals done, sticking to your word, and being dependable, other agents will want to work with you on tough deals. Many properties that we buy have major issues and are tough to sell. Other agents know me and know I will do my best to get the deal done.

Offer price

I already mentioned the commission savings on investment properties, but there is another advantage besides just the money savings. If I save $8,000 in commissions on a fix and flip deal, I can buy that property for $8,000 more than an investor who does not have their real estate license can. That savings allows me to pay more money and get more deals than other investors while still making a profit.

How much money can you save?

This year I will come very close to fix and flipping 30 homes. That means I will sell 30 houses that I flipped, I will buy close to 30 houses, and I bought a few rental properties as well. Here is how much I think I have saved this year alone:

  • Selling 30 flips I save 3 percent commission on each flip because I can list the home, instead of another agent. My average flip sells for $225,000, which equals $202,500.
  • I will buy close to 30 flips, but not all of them are MLS deals. If I assume half of them are MLS deals and I buy them for $125,000, I save $56,250.
  • I will buy three rentals totaling about $500,000 which saves me another $15,000.
  • I will save over $270,000 by being a real estate agent this year on my own deals alone.

I have a great set up with my broker where I get 100 percent of the commissions and pay him a flat fee every year. If you have to pay your broker a split of your commissions you may not save as much money.

How else can you make money?

I am biased, but I think being a real estate agent is one of the best opportunities out there. There are many forms of income in the real estate business. If you are motivated and dedicated to making it in the business, you can make serious money. I will not go into details in this article, but here are some of the different areas that can generate income.

Property management

If you want to be a serious investor, you will want a property manager to handle your rental properties at some point. If you start your own property management business, you can manage your properties and other properties as well. Not only are you saving ten percent per month on your rent coming in by doing your own management, but you can also make extra cash by managing other investors properties.

Retail Sales

This is the most common way to earn money as an agent. Retail sales involve listing houses for private sellers and selling homes to buyers. If you are dedicated and treat this as a real job, you can make a lot of money. Many agents make over $100,000 per year and the very best make much more than that.

Commercial Sales

Commercial real estate requires much more experience and knowledge than residential. It is difficult to break into commercial unless you start with a commercial firm that can mentor you. Experienced and successful commercial agents can easily make hundreds of thousands of dollars per year.

REO Sales

REO properties have been foreclosed on and they have gone back to the bank. REO agents list and manage these homes for the banks. Agents can make a very lucrative living if they work with the right banks. It can take years to build up your business and the supply is determined by how many homes are foreclosed on. REO agents are not allowed to buy their own listings, as it is a conflict of interest.

Short Sales:

Short sales homes are listed by private sellers who are selling the home for less than they owe the bank. There is a huge market for short sales and many agents make a great living specializing in this field. It takes a lot of patience and diligence to close a short sale since the banks have many requirements and they can take months to approve a short sale.

Broker Price Opinions (BPOs)

A BPO is a one to three-page report used to determine value on properties but is not an appraisal. Licensed agents can complete BPOs for various clients including banks. The agents are usually paid between $30 and $80 per order. Some agents make a living only completing BPOs. It is a great way for agents to supplement their income while learning the business.

Real Estate Express is a real estate school that provides online classes in many states. Three agents on my team…

Conclusion

There are many ways to make money as a real estate agent. Even if you just want to buy or sell a few of your own listings each year, I believe becoming a real estate agent is well worth it.

Build a Rental Property Empire

Categories Real Estate

Source: investfourmore.com

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If you’re currently in or thinking about starting the home buying process, you’ve probably heard the term buyer’s agent thrown around. Buyer’s agents help you search for homes, they come with you to tour homes in person, and write and negotiate the best offers for that dream home you just fell in love with.

Are Buyer’s Agents Necessary?

While you can represent yourself when buying a home, we wouldn’t recommend it. There are some ins and outs that you’ll need to be aware of when it comes to all the legal stuff. Even if you try and represent yourself, oftentimes the houses you are looking at will be listed by a real estate agent and it’s always nice to have a pro on your side, too. In a world of agent vs. no agent? What’s a home buyer to do?

Enter Homie

Homie is the future of home buying (and selling)! Homie offers a dedicated team of home buying pros, you’ll have a real estate agent, a showing agent, and more, who can help you on the road to homeownership. We built an easy-to-use platform that allows you to browse homes, schedule tours, and go through the entire process of buying a home. That’s all on one platform.

What Does a Buyer’s Agent Do?

Traditionally, buyer’s agents tackle a few different parts of the process:

  1. Finds homes to show you

    2. In the days of traditional agents, they would find homes that somewhat meet your requirements and book tours. Will a few homes that don’t meet your standards end up on your list? Yes. Will you eventually find the home you’ve been looking for? Anything’s possible.

    It’s important to note that this part of the job is almost obsolete for the buyer’s agent of today. Most home buyers find homes they’re interested in online themselves. Because no one but an agent can open a lock box, that’s where the part of the agent comes in.

  2. Assembles a team

    3. Usually, agents would gather a team of professionals (or people they’ve worked with in the past) to accompany you on your journey. You know, title officers, loan officers, home inspectors, people like that.

  3. Helps with offers

    4. The legal part of things is where most people found solace in having a buyer’s agent on their side. Agents would help buyers make offers and negotiate with the seller’s agent (AKA the listing agent).

What Don’t Buyer’s Agents Do?

  1. Financing

    2. Sorry, everyone, but buyer’s agents don’t deal with financing. However, they may be able to point you in the direction of a mortgage officer who can help you.

  2. Work directly with sellers

    3. Direct communication with the seller isn’t a thing, unless the seller is representing themselves. Usually buyer’s agents will speak with the listing agent to coordinate everything you need.

Want to learn about the home buying process? Click here.

What Does a Homie Buyer Agent Do?

We do all that and more. Homie’s platform assigns you to your own dedicated team of home buying professionals, including a buyer’s agent, who can help you find the home you’ve been looking for. Not only will your dedicated agent set up showings for you, but a showing agent will accompany you to all of the tours. Homie’s gone one step further and integrated home loans and title and closing services into one easy to use platform. Not bad for the new kid.

We know that, especially for first-time buyers, things can seem complicated. It’s really not too difficult, but it’s always nice having an expert or two on your side to help educate, explain, and guide you on your journey.

Will they help you with all the legal mumbo jumbo? They sure will.

Will you save money? We wouldn’t have it any other way. In fact, Homie buyers can keep up to 50% of our commission.*

Browse homes on our platform now, or contact us to get more information on the process. It’s time to get your dream home.

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

Source: homie.com

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Active-duty military members face incredible stress. Whether they’re in combat zones or serving during times of peace, our service members experience challenges civilians may not consider, including being deployed and away from loved ones for months at a time. 

So if you’re serving in the military, you may not be focused on opening new credit accounts or taking out loans. But putting an active-duty alert on your credit report makes it harder for thieves to open an account in your name, which can’t replace precious time with your family, but it can help alleviate concerns about identity theft while you’re deployed.  

What Is an Active-Duty Alert?

An active-duty alert tells potential creditors and lenders you’re deployed and they should verify your identity before giving you credit. It appears on all three of your credit reports from the major credit bureaus: Experian, Equifax and TransUnion.

An active-duty alert functions in the same way as an initial fraud alert. Before granting credit, the lender should make a phone call to determine that you were the one who filled out the application. 

Once you apply for an active-duty alert with one of the three major bureaus — Equifax, TransUnion, and Experian — that bureau must share the information with the other two credit bureaus. That means you only need to fill out the online application or mail the paperwork once. If you’re deployed, you can give a representative power of attorney (legal authority) to verify your identity or remove the active-duty alert for you. 

As an added benefit, with an active-duty alert on your credit report, you won’t receive prescreened credit card or insurance offers for two years after placing the alert. You can also receive two free credit reports from each credit bureau the year you place an active-duty alert. 

How Active-Duty Alerts Work

Once you fill out the application for an active-duty alert, it becomes harder for someone — including you — to take out a loan or apply for credit in your name. That can protect you from headaches and stress while you’re serving your country. 

When a creditor sees an active-duty alert on your credit file, they’re supposed to call the phone number you provided to verify your identity before processing the application. You can easily remove the active-duty alert or change the phone number with the credit bureau where you initially filed the alert. 

How Long Does an Active-Duty Alert Last? 

An active-duty alert lasts for one year from the date it’s granted or until you remove it, whichever comes first. While you only have to apply for an active-duty alert with one bureau, you must remove them from all three of your credit reports individually.

However, your name stays off mailing lists for prescreened credit card and insurance offers for two years. You can also reapply for an active-duty alert after your first one expires. 

If you’re a victim of identity theft, it’s better to apply for an extended fraud alert, which stays on your credit report for seven years. 

How to Set Up an Active-Duty Alert

Setting up an active-duty alert is easy and free. You can do it online or by mail. The process differs slightly among all three credit bureaus, but the basic process is similar. 

  1. Choose where you’d like to file your active-duty fraud alert. Decide if you’d like to file your alert with TransUnion, Experian, or Equifax. The credit bureau you use will pass the information on to the other two.
  2. Gather the appropriate information. You must provide your legal name, Social Security number, and address. 
  3. Submit the form. If you typically use a particular bureau to manage your credit score, use that one. Otherwise, you can use any of the three. You have the option to mail the form, use the website, or call the toll-free number.
Equifax
P.O. Box 105069
Atlanta, GA 30348-5069

800-525-6285
Online 

 Experian
P.O. Box 9554
Allen, TX 75013

888-EXPERIAN (397-3742)
Online

 TransUnion
P.O. Box 2000
Chester, PA 19016

800-916-8800
Online

Final Word

It may not be as easy to keep tabs on your finances or review credit card statements while you’re serving. But placing an active-duty alert on your credit reports makes it harder for thieves to steal your identity or open credit cards in your name. 

But you don’t have to stop there. TransUnion provides an additional service. TransUnion Active Duty Credit Monitoring offers unlimited access to your TransUnion credit report daily and emailed alerts if the service detects any significant changes to your credit report. Your subscription lasts for two years. After that, you may have to recertify your status as active-duty military. 

Today’s tools make it easy for military members serving at home or overseas to keep tabs on their credit and manage their financial future. Leveraging active-duty fraud alerts, TransUnion’s credit monitoring, and financial products designed for active military members and veterans can help you save money and protect your credit as you serve your country.

Dawn Allcot is a full-time freelance writer and content marketing expert, specializing in personal finance, technology, real estate, and insurance. Her work has been widely published across the web, including on Bankrate, The Balance, Solvable, and the award-winning Chase News & Stories portal. Dawn is, additionally, the founder of GeekTravelGuide.net, a travel, technology, and entertainment website for the geek in all of us.

Source: moneycrashers.com

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Liability-only vs. full coverage insurance

Simply put, liability-only car insurance is a type of policy that only provides coverage for damages you cause, not damages you sustain. Full coverage builds on liability-only and adds additional coverage, including coverage for damages to your vehicle from collisions as well as non-collision incidents such as storms and fires. In the U.S., the average cost of car insurance for minimum coverage — the lowest coverage level of insurance that you can purchase — is $622 per year, while full coverage costs an average of $2,014 per year.

Keep in mind, though, that your auto insurance needs will likely change over time. You may find that full coverage is the best option for you now, while in the future, you may be more apt to choose liability-only. Reassessing your needs once in a while, especially if you’ve recently gone through a life change, can help you align your coverage with your circumstances. Below, we delve deeper into the differences between liability-only and full coverage to help you determine which is best for you as you gather car insurance quotes.

Liability-only car insurance

Liability car insurance coverage is the part of your policy that pays for the injuries and damages you cause to someone else in an at-fault auto accident. Most states require drivers to carry at least a minimum car insurance coverage limit, often called “minimum coverage.” However, you can buy higher liability limits than required by your state and still have a “liability-only” policy, as long as you don’t add coverage for damage to your vehicle.

Liability coverage is broken down into two parts:

  • Bodily injury liability: This coverage pays for the injuries you cause to another party in an at-fault accident.
  • Property damage liability: This portion of your liability coverage pays for the damages you cause to another’s property, such as another vehicle, a fence or a building.

Liability coverage is often listed as split limits, which are listed in a bodily injury per person / bodily injury per accident / property damage per accident format. However, your liability coverage may also be a “combined single limit,” meaning it’s one number that can be used flexibly to cover the damages and injuries you cause.

Some states also require other coverage types as part of their minimum coverage requirements, including:

  • Personal injury protection (PIP): This coverage pays for your medical bills and your passengers’ medical bills if you are injured in an accident, regardless of fault. PIP may also pay for lost wages and the costs for household services you can’t perform due to injuries. In no-fault states, PIP is required.
  • Uninsured and underinsured motorist: These two coverage types pay for injuries you sustain if you are hit by a driver who does not have insurance or does not have enough insurance to cover your bills. This also provides coverage if you are a pedestrian hit by an uninsured motorist or a victim of a hit-and-run accident.
  • Medical payments: Although only required in a few states, medical payments coverage is similar to PIP. It pays for your injuries and the injuries to your passengers regardless of fault. However, medical payments coverage does not cover lost wages or household services like PIP.

Takeaway: You must purchase a car insurance policy with at least your state’s minimum required coverage types and limits in states where car insurance is required. However, you can purchase higher liability limits and other coverage types, such as medical payments, and still have a “liability-only” policy.

Full coverage car insurance

Full coverage car insurance refers to a policy that has all the state-required coverage types as well as comprehensive and collision coverage, which add coverage for damage to your vehicle. While it’s possible to have a full coverage policy with low liability limits, many full coverage policies have higher limits for liability coverage to offer more robust coverage and greater financial protection for you and your family.

Full coverage policies include:

  • Collision: This coverage pays for your vehicle’s damages from collisions, such as hitting another vehicle, tree or building. Collision coverage will help cover your vehicle’s repairs in a covered claim, regardless of fault.
  • Comprehensive: Often called “other-than-collision” coverage, comprehensive pays for non-collision damages, such as damages caused by fire, theft, weather, vandalism or striking an animal.

You may also be able to add some additional coverage types, known as endorsements, to full coverage policies:

  • Rental reimbursement: This coverage will pay for a rental car if your vehicle is not driveable and is being repaired or replaced by a claim covered under your comprehensive or collision coverage. There is generally a per-day coverage limit and a total maximum amount of coverage limit.
  • Roadside assistance: This endorsement pays for service calls needed for your vehicle, like a tow, jump start or tire repair service.
  • Gap insurance: Gap coverage is designed to pay the difference between your new car’s actual cash value and the amount you owe on a loan or lease. If your vehicle is totaled or stolen and you owe more than the car is worth, gap coverage pays the difference.

Takeaway: A full coverage policy is generally more expensive than a liability-only policy, but it provides more financial protection and often has higher liability limits. Full coverage is often required when a vehicle is financed or leased. Additionally, you must have full coverage to qualify for several common endorsements, including car rental coverage and roadside assistance.

Source: thesimpledollar.com

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By Peter Anderson Leave a Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited June 29, 2008.

For which of you, intending to build a tower, does not sit down first and count the cost, whether he may have enough to finish it; lest perhaps, after he has laid the foundation and is not able to finish, all those seeing begin to mock him, saying, This man began to build and was not able to finish. Luke 14:28-30


To me this verse has a couple of things it is stressing. First, if you want to buy something you need to consider what the cost will be. If you’re building a house, you need to consider the cost and save up your down payment and get a loan. You need to plan ahead and get your financial house in order, before jumping into something without a plan (as so many have done nowadays – ending up in foreclosure). Considering the costs might sometimes mean not going through with a purchase. So carefully consider the costs, and whether something is worth it.

This verse in context is also speaking about considering the cost of being a disciple of Christ. We have to be ready to give up everything we have for Christ, and remember that everything we have here on earth is His. We need to be ready to lay down our lives, our possessions and everything else – and realize that anything we have except Christ has no real worth. In this passage Jesus says it plain and simple:

In the same way, any of you who does not give up everything he has cannot be my disciple. Luke 14:33

All of us have something in our lives that needs to be given up for Christ lest it become an object of our desire. For some its money. For others it might be their possessions or an unhealthy relationship. Any number of things can become your focus, and whatever it is, if you aren’t focused on Christ it can become an unhealthy thing.

Consider the costs of becoming a follower of Christ and think about where your focus is. I know from personal experience that when you put your focus on Him, you’ll be much happier in the end no matter what happens in your financial and personal life.

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Source: biblemoneymatters.com

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There are a number of Reddit reports about Chase approving people for the new Sapphire Preferred 80,000 offer/ 90,000 offer, despite their being past 5/24. That is to say, despite their having 5 new cards showing on their credit report as having been opened within the past 24 months they were able to get approved for the new Sapphire Preferred card.

Whenever these reports have arisen in the past it usually ended up just being bad math, e.g. counting business cards or counting the half-month. But this time there appears to  be a few credible reports on post-5/24 approvals. It’s unlikely that 5/24 has been eliminated entirely, but it does tentatively appear that either it’s no longer an iron-clad rule or that they’ve introduced a new variable to the rule that we aren’t yet aware of.

Here are some data points in the comments confirming: 1, 2,  3, 4, 5, 6


We reported in the past on the ‘suspension’ of the 5/24 rule for Chase INK cards for a specific time period, and then we continued to see sporadic success post-5/24 on INK cards even beyond that. This was thought to be specific to Chase INK cards, yet it now appears it might be part of a broader loosening of the rules.

Big news here, but again, even if true, it will likely only affect a small percentage of card applications. Please let us know in the comments below if you have success with this on the Sapphire Preferred card, INK cards, or any other card.

(Side note, anyone applying for the Sapphire Preferred card, please use a reader’s referral link.)

Source: doctorofcredit.com