Buying a Second Home: Is it Worth the Investment?

One of the top things that everyone hears about in terms of investing is to invest in real estate. The market is hot right now, with the power resting in the hands of the sellers and renters. If you’re considering getting a second home for your own vacationing purposes, renting out the space while not in use can be a great source of additional income. 

But is it really worth the investment? Here are four factors influencing the costs and profitability that will help you determine if buying a second or vacation home is really worth the investment for you.

Maintenance and repairs

When you buy property, you will have upkeep costs. Older homes are notorious for needing extra care and attention, even if the initial downpayment is less. Planning your budget according to the age of the structure and any known issues can help you avoid overspending. 

If the property requires too much care, then you may want to look for another option. In most cases, it will be a lot better to get a nicer, newer home that has a higher cost but will need less repairs than it is to get a cheaper but lower quality home.

Making money using your home as a vacation rental

Knowing your audience can help you make cover expenses for your property. Millennials make up 40 percent of travelers who search for web rentals. Advertising online, having an excellent SEO program, and using social media to connect to this audience is crucial to getting the right exposure should you use your investment for rental purposes. 




With a great SMM team or brand management company, you can successfully market your rental to reduce vacancies and increase the ROI of having a second home.

Managing tenants

Unless your second property is in a housing development with a homeowner's association, it might be best to hire a professional property management firm to take care of your rental. These experts collect rent, repair household systems, mow the lawn, vet potential renters, and arrange marketing and advertising. 

When you want to invest in the property without the everyday work, these agencies are the best option to remain hands-free. This is especially important for busier homeowners who don’t want to let a second home property turn into a second job.

Market awareness

Before you buy a vacation house or rental property, it is important to investigate the local market. Is there a shortage of houses for sale? Is the area vibrant and diverse enough to draw in the younger crowd? 

How many parks, shops within walking distance, and fine dining establishments are nearby factor into a tourists' decision to stay in a particular location. If you are looking to purchase in your top vacation spot, then you understand the importance of accessibility. Right now, it is more costly to buy a home, but that also means that you will get a greater profit from renting it. 

Waiting for a buyer’s market may result in a lower ROI when it comes to renting the property out again, so be aware of your financial needs and if your current budget can sustain a higher initial cost for greater profit afterward, or if you’d be better off waiting for lower starting costs.

Before you take on an additional mortgage or the responsibility of owning multiple properties, it is a good idea to consider why you want another house. Whether you plan to take on new property as the beginning of a grander real estate investment program or just to have an available vacation home for

On the Apartment Hunt? How to Make Sure Your Lease Application Hits the Bullseye

Though it might not be as strenuous as buying a home, looking for an apartment can be rather exhausting. With multiple applicants vying for the same apartment, you need to do all you can to prove to the landlord or rental agency that you’re the top candidate. These are some tips for making sure your lease application hits the bullseye.

Have a Good Rental History

In order for your application to be approved, you need to show that you’re in good standing with your previous landlords. There should be no evictions or broken leases on your record. There might be some landlords you didn’t get along with as well as others, but as long as you fulfilled the terms of the leases, there shouldn’t be an issue. 

If this is your first time renting an apartment, make sure that you pay close attention to all the rules of the lease to make sure you’re starting off your rental history on the right foot.

Meet Income Requirements

Apartment applications typically ask for employment and income verification's. Don’t go for apartments that are far out of your price range. Provide pay stubs that show you have steady employment and will be able to cover rent. 




If necessary, you may have to find an apartment with at least one other person to afford rent. This will protect you and the tenant.

Work On Your Credit

Landlords do a credit check with applications. If you have poor credit, it indicates that you will may trouble paying debts, which can cause concern for landlords. Good credit can be accomplished by keeping credit card balances low and paying bills on time. 

If you don’t have any credit history, you can work to building one by applying for a credit card and paying off the balance in full every month.

Be Respectful

When touring an apartment and submitting an application, you need to show gratitude and consideration. Come to the appointment on time, dressed well and introduce yourself with a firm handshake. Ask questions about things like amenities like apartment wifi and cable upgrades. 

Landlords can gauge a lot from how a potential tenant conducts themselves in the application process. A little kindness can go a long way towards getting your application approved.

It doesn’t take much to get approved for an apartment. You just need to have a good history as a tenant and provide evidence that you’ll be a dependable tenant. The future of your living situation can depend on how you handle the present.

Keeping Afloat: 4 Tips for Staying Financially Stable after an Accident

Any kind of accident can be life-changing. Even if you’re not severely injured, any injuries that you do sustain can result in not being able to work as you did before the accident. 

This means that you won’t be able to support yourself or your family in a financial manner, which can then lead to getting behind on monthly bills that include your house payment or utility payments. Fortunately, there are a few tips to keep in mind so that you do stay financially stable.

Make Phone Calls

Before you get behind on your finances, contact the people you owe money to so that you can make payment arrangements. Many companies will work with you to accept a lower payment each month or even extend the number of payments that you have as long as you are upfront about your situation. Stay in contact with all of these companies to show that you’re willing to make an effort in staying on top of your financial obligations.

Seek Help

Consult with an auto accident lawyer who can often help you file a suit to get money for your injuries and lost wages. Give the attorney all of the information that you have about the accident as well as medical records and details about your finances. Your attorney can do the work for you regarding talking to insurance companies and working to get the best settlement.

Better Budgeting

Take the time to go over your monthly budget. Since you might not have as much money to work with, you need to examine the things that you have to pay each month and the things that you can set aside until you’re financially stable once again. 



Any subscriptions that you have can often be pushed aside as well as any entertainment expenses that you can do without. Think of ways that you can save money each month, such as buying items when they are on sale or turning the lights off in the home unless someone is in the room.

Side Work

There are often several people who are seeking assistance doing things that they can’t do on their own. Talk to some of the people in your community about odd jobs that you can take on, such as raking leaves or cleaning a house. You can also advertise your services to try to make extra money.

With a little more organization and making a few phone calls, an accident doesn’t have to set you back. You’re going to have to stretch the money that you have, but if you detail your budget and seek assistance when needed, then this can be a time when you can stay on top of the essential payments that you need to make. Keep in mind that your family is there to offer assistance along with organizations and your attorney.

5 Steps to Take in The Year Before Retirement

It’s almost time for you to take a step back from the grind of working your normal 9-5. You’ve been working almost your whole life. Finally, it’s your turn to relax and enjoy your retirement. Though you’ve made a career, diligently saved, and taken all the right steps to make sure you may be secure, you’re still a little weary about what comes next. 

It’s normal to feel a little overwhelmed, there’s not much out there about what to do in this final stage. In order to make your last year in the workforce go smoothly, we’ve put together this list of five steps you need to take in the year before your retirement.

Be Debt Free

Though your savings have taken priority over the last few years, it may not have occurred to you that it would be best for your financial future to be completely debt free before retirement. There are several things that you can implement in your daily life to overcome financial stresses and gain a little peace of mind. But being debt free is one of the most important things to do for yourself during this period of time.

Because you’ll be on a stricter budget during your retirement, be certain to pay off any outstanding loans, mortgages, or any other debt if you can. If you are not in a position to completely pay off these debts, then think about consolidation before retirement. That way you can budget one, easy to remember payment! Do your research and learn more about personal pension options, facts and answer any questions before you start planning.

Income Estimates

Run the numbers for your monthly income from your pension account. Then, run them again. Be absolutely certain of the allowance you will be able to give to yourself, because financial surprises like running out of money in the middle of the month are not an option!



Find a reliable pension provider to deal with your savings and make certain you are taken care of in your golden years. Do some research to find the right private pension firm for your needs, or make certain to speak with someone from your company’s pension program before you retire. This way you have all of your financial information ready for your fun retirement plans!

Create a Detailed Budget

One of the most important, if not THE most important, things to do in the year before retirement is to sit down and create a detailed budget. You’ll be on a fixed income and unnecessary spending isn’t really an option for most. Here are a few things to consider while making a detailed monthly budget:

• Food
• Bills
• Car/House payments
• Holiday expenditures
• Self-care needs
• Transportation
• Entertainment

Any important personal needs

These are, of course, very basic needs, but being prepared with a detailed budget is extremely important. Be certain to include any “fun” expenditures like going out to dinner, seeing a movie, or even a big fishing trip! You may also look into ways to supplement your retirement finances to make certain that everything is taken care of so that you can relax!

Insurance and Investments

One thing that no one really talks about is how you’ll be receiving insurance benefits during your retirement. If you have had health insurance through your company for the last several years, you’ll need to find either a way to extend that insurance, or a new way get benefits. That way there are no unexpected medical incidents without proper coverage!

Make a List!

Saving money, finding ways to supplement your income, being budget wise, all of that is great preparation for your retirement. However, your priorities should also be on finding ways to ENJOY spending your days living a life of leisure.

Make a bucket list of all the things you would like to see, all of the foods you’d like to try, all of the places you’d like to visit. This will be helpful for your budget, yes, but this bucket list will also give you something to look forward to next year!

Our 5 Steps to Help You Before Retirement Next Year!

Whether you make a list, or a tight budget, these five steps are essential for planning for your retirement. This is your last year working, and after you’ve taken all of the steps we’ve laid out for you, you’ll be ready to sit back, relax, and really enjoy your retirement!

Making Some Extra Moola! How to Increase Your Income as a Stay at Home Parent

Being a stay-at-home parent is a full-time job, but instead of earning a paycheck you are compensated with “the wheels on the bus” running on a loop in your head, sticky jelly covered fingers, and the ever-dreaded potty training. 

Silliness aside, the ability to stay-at-home with your children and be a part of their day to day lives is a gift but doesn’t always come easy. Most likely you were a two-income household before you had children, and while you can still live on one income having some extra money can make a huge difference, in not only your finances but also knowing that you are not just Mommy or Daddy.

Writing for Money

Writing from home can be done in many different ways. You could write a blog. Typically, people make money from their blogs by having sponsored advertisers or affiliate markers on their blog. 

If you would like a little more direction when you, write there are many online sites that pay for specific articles or website content. There is also a need for resume writers, proofreaders and copywriters.

Turn Your Hobby into a Business

There are many ways to monetize your hobby. There are online shops were people sell their handcrafted items. These sites don’t just offer sewing and crochet items. Many people sell artwork, premade scrapbook pages or kits, jewelry, handmade soaps, or candles. The possibilities are endless and you get to spend some time doing something that makes you happy and fulfilled.




If your hobby is more computer-driven, then there are many ways to make money from behind your screen. There is freelance graphic designing, creating websites, creating printable planner pages, launching and monetizing your own game, or organizational charts.

Do you like to cook? You could write and sell an eBook full of your favorite recipes. If a book seems overwhelming, you could sell individual recipes. There is a real need for recipes that follow a special diet (vegan, gluten-free, nut-free). You can also sell baked goods or specialized candies online.

Selling Old Items for Fast Cash

If you are looking to make some money quickly because your car is making a thumping noise, or your dryer seems to be taking a really long time to dry, then look no further than your very own house. 

You probably have toys that are no longer played with, clothes that have been grown out of, or gifts that you are just not going to use. Snap a picture and upload them to an online auction site or marketplace or gather them up and have a garage sale. 

They always say “one person’s junk is another person’s treasure.” You could be sitting on a gold mine and not even realize it.

These ideas just scratch the service of what you can do to earn some extra cash. A little thought and some determination can have you working in no time.

Why Planting a City Garden is a Great Idea

There are plenty of things that can be done to make the world a better place, but one of the brightest and most cheerful acts is planting a community garden. The colors and fresh greenery make for a prettier, cleaner stretch of land than a slab of pavement. 

 Band together with your friends and neighbors and create beauty in a negative space. It is one of the best things that you can do for the area you live in. Try to choose a spot of the city that is, for lack of a better word, ugly. The transformation of a city-wide eyesore makes such an impact!

Build Friendships

Investor Neill Sullivan Oakland is a great example of how a common goal brings people together. The neighborhoods that he has invested in have a fantastic sense of unity. Use these Oakland neighborhoods as an inspiration when working together. Collaborating with people you don’t know well breaks barriers and creates a new appreciation for them. 

Think about the number of people who live in your city that you don’t even know yet! As the bulbs you plant will turn into beautiful flowers, so strangers can become friends. The positive shockwaves of this undertaking can continue even after it is completed in the new bonds you have forged.

Stay Busy

You know the saying about idle hands. Keep them from becoming the devil’s playground by keeping many people busy at once. This sort of project isn’t restricted to any age or gender; anybody can work on it! It can be a fantastic school project for all ages during the day and a way to keep kids out of trouble after school. 



It can be a moment of quiet for retirees who enjoy creating. It can just be a pleasant way to spend an afternoon. Since the garden doesn’t belong to any one person anybody can work on it, anytime!

Unexpected Leadership Roles

Taking on an endeavor like this is not something that can be done overnight. There are legal matters as well as planning to take into account. Many city council meetings will probably need to be had before this idea can become a reality. Once it is approved, there is the task of designating who will be in charge of what aspects. 

This is not a bad thing! If you are not usually one to take control of a situation, this is the ideal moment to do so. Volunteer for a spot on the team that helps hone your leadership skills. An opportunity to learn is never wasted.

Pride

Once it is completed, you and your friends and neighbors can step back and look at a job well done. The sense of accomplishment in the flower beds, newly painted benches and freshly-spread bark make this project all worth it. 

What was once a vacant place in the city has become something entirely new. The sweat, long days and hard labor result in a lovely place in your community that you can be proud of! Best of all, it is a spot that many people will enjoy for many years to come. 

Imagine quiet walks, weddings, first dates that will happen here down the road. Life began in a garden, and you have created magic through this one!

It is not an easy task, but planting a garden within your city is worth it in the end. Seeing people enjoying the result of all your hard work ignites a flame of pride and respect for the place you live in. Do your small part in making the world a better place by contributing something beautiful and well-made to your city.