Jason McLaughlan Featured On Rookstool Interviews

Posted on by Hassan Modjiri
Jason-McLaughlan-Western-Fence

When Jason McLaughlan was asked about what kind of business ideas excite him, he responded with the following:

I am excited by new kinds of businesses. I believe that the sharing economy is making a huge impact on local business. Housing and rides have already been shared, and the market is ready for more great ideas to increase the sharing economy. I am also interested in businesses that offer great service to customers without compromising themselves.

Jason McLaughlan on Rookstool Interviews

You can read the full interview by visiting: https://www.rookstoolinterviews.com/jason-mclaughlan

August Funding Gives Tips for Building an Emergency Fund

Posted on by Hassan Modjiri

Building an emergency or rainy-day fund counts as one most important parts of your financial life. When you have an emergency fund, you’re less inclined to worry about what an emergency room trip or a car repair will cost you. You’ll be prepared for such an eventuality. If you have a large enough emergency fund, then you won’t even worry much about big financial stresses, like a job loss. 

Most people know that they need to create an emergency fund. However, many don’t know how to build one. In fact, one of the most common questions that a company like August Funding gets is, “How do I build my emergency fund, especially if I don’t have any extra money?” 

While the answer to this question isn’t always easy, it is simple, meaning that you may have to sacrifice a bit in order to create your emergency fund. However, if you implement the following five suggestions, you’ll be on your way to building an emergency fund that even the wettest rainy day will have a hard time washing away.


The Two Types of Emergency Funds



When reps at August Funding refer to an emergency fund, they actually can be speaking about two separate funds, a short-term fund and a long-term fund.

The short-term fund is a small amount of money – relatively speaking – that allows you to fix your broken furnace or car. That’s usually the fund that has one- to two-thousand dollars in it. This you want to keep in an account you have easy access to, like a savings account.

The long-term fund provides a cushion for a major financial disruption, like illness or job loss. In this fund, you keep three- to six-months’ worth of income stashed away. You might put this in a money market account or some other account that is a little harder (but not impossible) to liquidate on short notice. While you’re waiting for the funds to come through, you do have the option of using your short-term emergency fund. 

Any time either of these funds gets depleted, make sure that you fill them up again. 


1. Save Your Tax Return



Earmarking your next tax return for your emergency fund counts as one of the simplest steps you can take to get your rainy-day fund started. What makes this so ideal is that it can be quite a large sum of money that you’ll get all at once. It can be enough to build the foundation for a small emergency fund of $1,000 – $2,000 dollars without much effort, depending on your tax status, of course. 


2. Get a Side Gig



Financial expert Dave Ramsey suggests that those without an emergency fund look for a side hustle. This can be anything that brings in some extra cash, from dog walking to pizza delivery that will bring you a couple hundred extra dollars a month. 


3. Re-Examine Your Budget



The circumstances of your life may not yet allow for a second job. However, that doesn’t mean you’re powerless over your financial circumstances. Nerd Wallet points out that cutting expenses is also a viable option for those who want to put together an emergency fund. 

If you go this route, plan on taking a look at where you can cut costs out of your budget. Are you eating in restaurants too often? Avoiding coupon-cutting because it’s a hassle? Using your credit card without a second thought? 

Once you know where your money is going, you’ll be in a better position to start cutting away the financial fat. Any extra cash that comes from these efforts should be put into a special savings account reserved for this purpose. 


4. Have a Yard Sale



Most of us have items that take up room in our closets that we haven’t seen, used, or worn in years. Why not clear out the clutter and make some cash in the process? Go through your closets, your kids’ bedrooms, the garage, etc. and look for items that would be worth some cash to you and valuable to someone else. Sell those items and put the cash you make into your rainy-day stash.


5. Start a Change Jar



It’s amazing how your small change can add up. Just think of all of the times that your coffee bill was something like $4.71 instead of $5.00 or your grocery bill cost you $39.28 instead of $40.00. The extra change that you get from these transactions can go into your change jar if you have one. 

If you don’t, then you can look into a mobile app that allows you to save your change each time you pay something with your debit card.


Last Thoughts on Building Your Emergency Fund



Having a rainy-day fund can mean the difference between comfort and disaster when fate comes calling. However, saving for a rainy day requires consistency and discipline: The amount of money you save is almost secondary. It’s the habit of saving that makes the most difference. 

If you get into the habit of saving even when you have very little money, then it will be an ingrained habit when you finally have more money. Best of all, you’ll have the funds you need to see yourself through life’s storms because of your efforts.

4 Mortgage Companies That Work With Affordable Loans For Potential Homeowners

Posted on by Hassan Modjiri
CHENOA-FUND

Choosing to purchase a home is a big step for many people and there are a few factors you need to consider before you write an offer on a home. The most important one is your mortgage company. Without an affordable loan, buying a home is out of reach for lots of people. If you are looking to buy a home here are four mortgage companies to consider offering Federal Home Assistance Program (FHA) Loans

Guild Mortgage

Started in 1960, Guild Mortgage serves homebuyers in the west, Midwest, and southeastern parts of the US or 40 states. It specializes in helping homebuyers who want an FHA loan and have a lower credit score starting at 580. In addition to accepting those with lower credit scores, Guild Mortgage doesn’t require a 20 percent down payment. It only requires a minimum down payment of 3.5 percent and will finance up to 96.5 percent of the mortgage.

In addition, Guild Mortgage also has down payment assistance for homebuyers in need of it. The company has a comprehensive list of relationships with housing offices in different counties. Factors to qualify for down payment assistance include income but other factors may also be considered. Features include the possibility of avoiding mortgage insurance, qualifying for grants that cover up to the entire down payment amount, and buying a home sooner or increasing the loan amount.

Fairway Nationwide Mortgage

Fairway Nationwide Mortgage serves homebuyers in every state in the United States with various loan types including FHA. They offer both fixed-rate and adjustable rate mortgages at 15, 20, and 30-year terms. Unlike other lenders on this list, Fairway doesn’t give a lot of detail with regard to specific qualifications and down payment assistance. So people must apply first to see if their credit score and other factors are sufficient enough to receive a mortgage.

With that said, Fairway is a lender that serves those with low or moderate income and who need help with a down payment.

CBC Mortgage Agency

Based in Utah, CBC Mortgage Agency focuses specifically on affordable housing for homebuyers using an FHA mortgage. To do this, CBC uses a down payment assistance program to help people realize the dream of homeownership. Chenoa Fund helps people who are creditworthy but are otherwise unable to save for a down payment.

The lack of a down payment is often a barrier to receiving a mortgage. Chenoa Fund removes this barrier by providing down payment assistance and increasing affordable homeownership for homebuyers using FHA loans.

TD Bank

TD Bank is a lender based in Canada offering homebuyers in U.S. states bordering the Atlantic to get an affordable loan including through FHA. Homebuyers can choose from a 15 or 30-year mortgage. TD offers down payment assistance and requires a minimum of 3.5 percent down payment. It also doesn’t require borrower-paid mortgage insurance in its TD Right Step Mortgage program. TD Bank does require education for borrowers purchasing a home.

Since TD Bank only serves Atlantic states, excluding Georgia, from Maine to Florida, it’s an option for people buying property in those states with a minimum credit score of 620. This lender also has a maximum of 41 percent debt-to-income ratio.

Purchasing a home requires a lot from homebuyers in terms of qualifications and also money. That’s why mortgage companies offering affordable loans are so important. Without them and programs like down payment assistance, homeownership wouldn’t be possible for borrowers who are qualified but need help with a down payment. If you’re in the market for a home, check out these affordable mortgage companies.

Special Considerations When Constructing a Dock to Add Value

Posted on by Hassan Modjiri

If you live by the lake and love going out for a swim, water sports or taking your boat out for a spin, chances are that you’ve contemplated building a custom dock. Docks allow you to fully enjoy your waterfront property. Besides giving you access to the lake, they also give you a quiet and serene place for relaxation. Again, docks are good places for meditation, yoga and even sunbathing. 

Docks are not all the same. They come in different designs and can be built with a range of materials depending on the intended use, available space and desired durability. Before you start building your own dock, here are a few things to consider. 

Intended use and number of people expected to use it

Docks built for a large establishment will be different from those built for a private residence. Public docks will have to be able to handle a lot more people. Their size and shape would have to allow ease of access and movement for large groups of people. Sturdier material would also have to be used to ensure the structures are not compromised. 

You must consider how you want to use the structure. Is it just for boats or will it also be used for water sports? Sometimes docks can also incorporate recreational spaces such as bars. All these factors have to be considered so that you can derive the maximum value possible from your investment. 

Material that will be used

Once you have decided on the use of your structure and know how many people it should serve, you can now choose your preferred material. The most common materials include aluminum, wood, concrete, and PVC. Your intended use should guide you in the selection process as different materials have different properties such as strength and durability. It is therefore prudent to take all these factors into account before you start building. 

Private docks may seem like mere luxuries, but they also come with other advantages on top of the convenience they offer. The following are some of them. 

1. Custom design 

When using a marina, you have to settle for what you get. They are mostly designed for a single purpose which is generally for boat storage. Private docks can, however, be designed to have multiple uses. Though there are regulations you have to follow, there are no design limitations when it comes to building your own structure. It can extend deep into the lake for fishing purposes and you can also build it with a place to relax and sun bathe. There will be no limitations to how you can use it and the value you can derive from it. 

For recreational establishments, a well-designed structure that allows multiple uses can be a great tool to keep the guest list constantly full. It also provides a platform to generate more income through water sports and enabling customers to arrive via lake or sea. 

2. Ease of access 

The joy of owning a boat is being able to take it out for a ride whenever you feel like. It’s safe to say that marinas are usually some distance from most people’s property thus making their boat less accessible than they would like. Private docks give you the luxury to go for boat rides at any moment. 

3. Boat security

Marinas are public places with few access restrictions. This, and the fact that you will not always be at the marina poses a security threat to your boat. Obviously, a boat will be more secure at your property, where traffic can be controlled. On your property, the risk of it being stolen or vandalized is very low. You will also be closer and better placed to respond to any issues that may arise. 

4. No overcrowding

Marinas can sometimes get overcrowded especially during the peak season. This makes navigation hard, and you may even fail to get slips for your boat. Private docks give you peace of mind knowing that you do not have to jostle for space. 

5. No fees 

After the initial investment to set up your structure, you will not have to pay constant fees to rent slips and additional monthly maintenance fees like at the marina. 

Undertaking dock construction on your property is one of the best choices you can make. The value you gain from it will greatly outweigh the upfront costs.

4 Ways Architects Are Creating A Booming Industry

Posted on by Hassan Modjiri

Brian Setencich

Although real estate appears to be problematic according to the news over the recent years, architecture isn’t. This is because people are not exactly looking for new properties, they are looking to redesign the properties that they already have. This is why according to many sources, architects still stand strong as one of the highest-paid professionals in the real estate and construction industry.

Brian Setencich, a well-known freelance architect, and real estate analyst give us the lowdown on the profitability of architects in 2018 and beyond:

  • High median salary – an average architect working in the United States will get a salary of $70,000 a year, which is almost more than half of the usual median average for all the jobs combined. Average worker salary in the US is only around $ 40,000-45,000.
  • Architects are flexible – an architect can work will in many sub-industries in real estate–they could be participating in private properties, industrial companies, as well as tourism-related opportunities. The possibilities are endless for the profession.
  • The Architects have an increased growth rate – it is reported that architects have an expected growth rate of 4% by 2024, which means that there will be more opportunities for advancement in the future.

Wha are some ways that architects are constantly building through a booming industry? Brian Setencich explains it all.

4 Ways Architects Are Creating A Booming Industry

Architects are paving the way for sustainability development

The real estate industry may be experiencing some growth problems due to millennials’ difficulty in purchasing their first homes, but architects are still on the rise. Why? This can be attributed to the fact that more property owners are focusing on the renovation of their spaces for increased sustainability.

For example, the term “sustainable homes” is creating a buzz in the real estate community. Many people are opting for natural materials, recyclable finishes, and other things that can help them make the project zero-waste. There are also some models that architects have made over the last couple of years such as pre-fabricated homes. These homes have less waste as you won’t be needing construction materials to establish them. Most construction projects often leave waste and pollution during the process. Having pre-fabricated homes eliminate this entirely.

Architects are embracing modernism

Most people have now attempted to simplify their lives. The signs are evident as many have become cult followers of the minimalistic movement, diminishing materialism, and creating a better balance of their work life and personal life. This ultimately reflects how people live, and it affected the way they want their spaces made.

The term “modernism” is now adopted by architects and is now used by many professionals as a term of reference for simple and fuss-free architectural styles. Now that people have embraced these types of designs to create their living and workspaces, architects also have made ways to help their clients express themselves through this style.

Architects have incorporated technology in the real estate industry

It isn’t just the creation of styles that should be advancing when it comes to real estate. More importantly, architects have incorporated technology to help improve the current state of modern properties.

For example, there is computer-aided training for architects to assess the safety of a building plan or to improve its built-in security features. Additionally, high-profile companies seek the help of an architectural technician to help them create a blueprint for a property that will yield the best results for their company goals.

Architects help in the tourism industry

With tourism in its all-time high, more people are looking for opportunities to travel domestically and overseas. A big factor that helps them decide if they’re going to book a resort or hotel is its facilities.

Architects partner with aspiring hotel and resort owners to create a space that’s appealing for the traveling population. In this case, it is not only the real estate industry that’s gaining from the architect’s work but also the tourism economy in that region.

As another decade will soon come to a close, architects will remain as a precious asset to many industries. Their expertise and ingenuity are one of the reasons real estate continues to survive.

5 Unusual Workplace Injuries

Posted on by Hassan Modjiri

Even with proper safety measures and OSHA guidelines in place, workplace injuries still occur sometimes in very unsuspecting ways. According to the Houston Chronicles, the leading causes of injury in the workplace include negligence, hazardous materials, stress and overexertion. Exposure to hazardous materials can lead to serious injuries, including respiratory diseases and skin infection. To minimize the risk of injury and fatalities caused by hazardous materials, toxic materials and chemicals used in the workplace must be handled with protective gear and lots of care.

Overexertion in the workplace is a serious vulnerability that often causes mental and physical exhaustion. A worker in this state can easily make a poor judgment that may prove costly to him and others in the vicinity, more so when operating a machine. It is important to note that thousands of workplace violations are repeatedly cited by OSHA every year. Some of these violations can be prevented by simple acts like guarding the machines, wearing respiratory protection, instituting a fall protection plan and effective communication.

List of 5 unusual workplace injuries, according to an Arbil Safety Blog assessment:

  1. Repetitive motion injuries – this form of workplace injury is usually less obvious to notice at first but can be very serious in the long term. The repetitive action can be as harmless as typing on a computer keyboard for lengthy periods, however, the long term may include back pain and vision problems. Employers can minimize the risk of injury by encouraging the use of ergonomic equipment and safety training.

    2. On work violent acts – acts of violence in the workplace can creep from various transgressions, including a simple disagreement among workers. In some cases, these acts can lead to physical fights with devastating effects such as physical injury or damage to the workplace. To stem these violent acts, employers need to stay on the lookout for suspicious activities and ensure the staff is adequately trained.

    3. Machine entanglement – the entanglements often occur in workplaces with heavy machinery and equipment. The injuries can happen when machinery comes into contact or pulls a worker’s shoes, hair, fingers or clothing. One way to deal with these issues is educating employees on the need to wear protective gear when working on the machinery.

    4. Falling object injuries – if objects are placed loosely on a shelf, injuries can arise from falling objects. The most common being head injuries. To avoid falling object injuries, the work environment must be made safe and hazard free at all times. Employees also need to wear protective gear such as helmets and gloves whenever the situation demands.

    5. Reaction injuries – this type of injury is difficult to prevent but can cause various problems from body trauma to muscle injuries among others. Most reaction injuries are caused by tripping and slipping, but these normally don’t lead to a fall. Employees can reduce instances of reaction injuries by staying alert and aware of the happenings around them.

    Hunter Law Group

Workplace injuries can result in loss of wages, hospitalizations and fatalities. On the broader picture, the injuries incurred in the course of work can impact staff morale, insurance rates, rate of productivity and the amount of compensation. Employers and employees are legally bound to report work related injuries as a way to remedy the situation and keep the workplace safe. The Hunter Law Group’s personal injury attorney Tampa has many years of experience fighting on behalf of the clients injured as a result of medical malpractices, dog attacks, lower back pain, slip and fall accidents and workplace injuries. The personal injury attorney Tampa operates, fully aware of their mission to deliver individualized solutions as described in the law firm’s core value proposition. This is all done to ensure clients get their rightful compensation and carry on with their lives without much interruption.

 

How To Decorate A Studio On A Budget

Posted on by Hassan Modjiri

If you’re living in a studio apartment, space is already tight, and we bet your budget is tight, too. However, with the modern, multiple use furniture available today, and the excellent prices found at places like JMD Furniture there’s no reason to have a difficult time finding furniture that will fit your studio apartment lifestyle and budget.

Your first task is to prioritize the space that you have available to you. Decide what you need, what you want, and what is a luxury, then make your purchases accordingly. For example, everyone needs a place to sleep and your bed should be a priority. However, if you already have a free-standing bed, you may consider trading it in for a pullout couch, a sleeper sofa, or a Murphy bed so that you can also add a seating and entertaining area to your space. If you love to cook and have (small) dinner parties, you’ll want to make sure that you use your space wisely and include a foldable dinner table in your layout.

The next step is to find as many pieces of furniture that can do double duty as possible. This includes a couch/bed combination, a folding dining set, a desk that can be stowed away when not in use, or even a day bed that can be made up as a couch during the day, and used as a regular bed at night. JMD furniture offers many of these types of pieces.

Since you won’t have much space to spare you want to make sure that you love every single one of the things that you have in your studio apartment. You’ll be spending a lot of time in close quarters with these items, and if you hate something you won’t be able to get away from it. It’s not always about having something new, but do try to make sure that you include a few pieces in your studio space that make you truly happy. This can be a colorful rug, a big, stunning piece of artwork on the wall or a small collection of items that you treasure. Whatever you decide that your statement piece will be, curate it, professionally display it, and enjoy it!

The main challenge with a studio apartment is that it can easily feel cramped or cluttered. Keep this problem in mind when you are choosing your design elements and remember that in a small space it is best to keep everything as hidden away as possible. Stacks of books, piles of magazines, displays of glassware, or other, seemingly normal items that look fine in a large home or apartment can seem totally overwhelming and out of place in a studio apartment. That’s why, in addition to using opaque design elements such as solid doors on cabinets or shelves that are covered, you also want to be sure that your studio is free of any general mess or clutter. Keeping your studio neat and organized will help your space seem larger than it actually is.

Consistent color choices throughout your studio will also help it feel larger. Don’t be afraid of dark or bold colors, but don’t choose too many colors to use together. A unified and somewhat monochromatic pallet will help open the space up and, again, make it seem larger than it is. Too many colors can crowd the eye in the same way that too much clutter can, and clutter of any kind is apt to close off the space instead of opening it up.

Finally, even though you have limited space don’t be afraid to define your space into rooms. A workspace, eating area, sleeping space, and a kitchen space are all things that you have room for, even if it doesn’t seem like you do! Defining each space will make your home feel psychologically larger and more freeing. These definitions can also help you enjoy your downtime more, help you sleep better, and make your home office time more productive when you’ve reserved a space in your home specifically for a certain activity. No matter the size of your home, take charge of your decor and make it yours!

 

Three Things To Look For When Choosing An AC Repair Company

Posted on by Hassan Modjiri

Air Conditioner

Whether you need AC repair services for commercial or residential purposes, locating the ideal company is important. Doing so can help you save money while also expediting and optimizing the process of fixing whatever is wrong with your air conditioner. Below you’ll find just a few of many strategies you can implement to increase your likelihood of finding the AC repair company that is ideal for you:

1. Qualifications And Credentials.

One thing to think about when you start your search for the ideal AC repair company is whether they have good qualifications and credentials. Specifically, try to determine what types of certifications, educational degrees, and other qualifying entities that individuals who operate within the AC sector are expected to attain. Then check the company’s website to determine whether the AC business in question employs technicians who have extensive education and experience in the field. If the AC company’s website doesn’t list this information, call them and request to speak with a customer service representative or other business professional who can answer your questions. Note that the professionals of All Year Cooling employ technicians who possess the knowledge and hands-on experience necessary to fix your air conditioner with excellence and expedience.

2. An Impeccable Reputation.

In addition to seeking out an AC repair company whose professionals have the right qualifications and credentials, make sure that you seek out a team of experts who have an impeccable reputation. Although reputation certainly isn’t everything, it is an incredibly important factor to consider when you’re ready to attain excellent AC repair services. This is the case because the best companies tend to maintain exemplary reputations as a result of their ongoing commitment to offering high quality maintenance and repair services while also treating their customers with dignity and respect.

Note that there are several resources you can utilize to determine whether the AC repair company has a great reputation. One of them is the Better Business Bureau (BBB). The BBB is a good medium through which to determine whether the AC company in question maintains the accreditation and rating indicating their ability to consistently provide amazing services. Also be sure to check the company’s website to see if they’ve attained any public recognition or awards as a result of offering customers amazing services. A third resource you can use to determine whether the AC repair company consistently offers exemplary services is online reviews. The majority of consumers now think that these reviews are just as valid as traditional recommendations.

3. Multiple Service Offerings. 

Another thing to think about when you seek out an AC repair company is whether they offer multiple services. Multiple service offerings are beneficial because they ensure that you’ll be able to address any and all AC issues with one company. Note that having to call two, three, or more AC companies every time you have a new issue is time-consuming. With this idea in mind, be sure to check the AC repair company’s website to see whether they offer multiple aesthetic, maintenance, and restorative services. Note that the crew of All Year Cooling possess the knowledge and experience necessary to offer clients a wide range of AC repair services.

Summing It All Up

People who find themselves in need of exemplary AC repair services should know that there are several steps they can take to locate the ideal company. One is figuring out which attributes the best companies will offer. Three attributes that stellar companies will consistently have include great qualifications and credentials, an impeccable reputation, and multiple service offerings. Once you’ve found an AC company that possesses all of these attributes, you’ve found a winner. If you’re ready to connect with a team of AC experts now, contact the All Year Cooling professionals and schedule your consultation.

 

How the Robot Sensation Will Set Real Estate Agents Free

Posted on by Hassan Modjiri
Luis Enrique Coll
It may seem like an idea from TV or from the movies, but robots are poised to take over important functions in the real estate industry. This will free up agents’ time to work with their clients one on one, reducing the amount of time that agents need to spend on such tasks as showing properties or creating 3D video tours. Luis Enrique Coll takes us through the basics of robots in real estate and touches on the advantages to buyers as well as sellers.

How Will Robots Work in Real Estate?

Real estate companies such as Zenplace have already begun using robots to show property in California. When a prospective buyer makes an appointment to see the property, he or she is greeted by a rolling robot with a tablet screen. The robot is able to answer many questions about the property.

Another real estate marketing platform, Rex, has begun using an Alexa-like box to answer prospective buyers’ questions about a property. In Rex’s case, a human agent is on site to handle any question the bot can’t answer. The Rex platform also relies heavily on AI in the marketing of its properties. Rex disrupts the real estate industry by removing agent commissions from the equation and by keeping its properties off the MLS system. This passes on significant cost savings to the buyer.

What is the Advantage to a Broker?

“It seems counterintuitive that a robot could actually benefit a real estate broker, but in fact, there is a clear benefit,” says Luis Enrique Coll, President of the Arco International Group. The wise broker is ready to adopt new technology which makes the home buying process easier and less expensive. A certain type of technology-aware client is attracted to the use of AI and robots, and there is a perception that brokers that use this technology may not be charging as much as others.

When a property is listed on the Internet, the REX AI system uses online data to target those who have clicked on the ad and tracks what they have in common. The system also uses purchases and retail data to target people who may be in the market for a home.

Robots and AI can streamline the process of getting a property listed online, and can help a broker deal with questions about their properties. An AI bot can chat with customers without having to involve a human. When it is determined that the buyer is serious, the bot conversation can be seamlessly passed to an actual broker.

Robots can automate the process of creating 3D video tours of homes, an otherwise expensive and time-consuming service. The robot is able to roll through the house on its own, taking photos and videos. 3D walkthroughs are an extremely attractive feature to the customer, providing a virtual experience of visiting the property.

How Do Robots Benefit the Client?

Having a robot give tours provides an appeal to technology-loving clients. If a client has a question at a time of day when the offices are not open, the AI may be able to answer. Robots and AI also cut down on the commission that a human agent might receive, lowering costs. Companies such as REX employ agents who are salaried, rather than working on commission. The companies that use robot automation are generally lowering the cost of their services to the client, but the companies themselves continue to be profitable.

What is the Place of Agents Versus Robots?

In the past, many technological innovations have disrupted the real estate industry. Recently, web sites such as Zillow, and before that, the MLS, democratized the process of looking for real estate. In each phase, real estate brokers became less of a gatekeeper to real estate information. However, customers still place their trust and loyalty in human brokers. The human real estate agent will never be completely replaced by a computer or a robot. Robots can help brokers and buyers alike, but the core of the real estate business will remain human, at least for the foreseeable future.

In Closing

Robot and AI applications are an exciting new facet of the real estate market. They have the potential to reduce costs for the buyer as well as for the broker. Features like property showings, online questions, and 3D walkthroughs are made much easier with the use of AI and robots. AI is capable of marketing properties directly to targeted users online, reducing the guesswork in placing online advertisements.

No matter how advanced AI and robot technologies become, they are missing the personal touch that an experienced broker brings to the table. For the time being, brokers do not need to worry that they will be completely replaced by a robot.

Five Options for Those Who Need Funds to Start Flipping Houses

Posted on by Hassan Modjiri
bad credit loans
Fixing and flipping houses can be an excellent way to make a nice profit. The process is both unpredictable and expensive. The property must be purchased, renovated and all permits must be in place. If the property does not sell quickly there are holding costs and broker fees. The most difficult aspect is securing the necessary funding. The best candidates have a credit score of a minimum of 650, have already flipped one house, have no tax liens, foreclosures or bankruptcies. There are additional options to secure financing for those with less experience or imperfect credit such as hard money loans.

Private Loans

A private loan is generally issued for one year but can often be extended for an additional two to five years. This type of loan takes approximately one week to close. This is a good option for someone with poor credit or flipping their first home. Collateral is much more important than a high credit score. If the property requires a lot of repairs the financing may be at a higher percentage. Private loans are common for first-time flippers because banks will usually not finance loans for houses in poor condition. Private loans are also referred to as hard money loans. The majority of these lenders are found at real estate meetings, by word of mouth or online. Networking is critical for this type of loan since they are often based on trust and a personal relationship. These are high stakes lenders, they expect a portion of the funding to come from the investor and expect to see a return. This is the most common way to secure bad credit loans.

Bank Financing

A bank loan typically requires one to three months to close and is offered for a shorter period of time. Investors with approximately two years experience flipping homes and a good credit score can often obtain a bank loan. The investor must be able to make a down payment. The investor will usually receive a line of credit instead of a lump sum. The interest rate is lower and they only pay interest on the amount they use. It is important to compare the rates offered by numerous banks. The investor must report their income, employment history, asset and income statements and all necessary documentation to the bank for a faster approval. For those unable to qualify for bank loan please review bad credit loans.

Online Mortgage Lenders

Online mortgage lenders issue loans for fifteen to thirty years for investment properties. This loan requires roughly thirty days to close. This type of loan is designed to make flipping homes easier but some experience is generally required. This is a traditional mortgage and the application process is automated. Numerous traditional lenders offer this service. The rate is lower than with most other loan types but the repayment takes longer.

Home Equity Loan

This is a loan for five to fifteen years with an average closing time of two or three weeks. This loan is granted to individuals with equity in their homes willing to make payments on a second mortgage. This provides the funding to flip a house. The investors home is the collateral. If a profit is not made on the investment the individual can lose their home. This option is not recommended for any investor who has never flipped a home before. Rental properties can also be used as collateral for a home equity loan. These are longer-term loans with lower rates. A line of credit is usually easier to make payments on than a shorter term loan.

Friends and Family

The last resort to secure funds to flip a home is the family and friends of the investor. These individuals should understand both the risks and the industry of real estate. If the investment is not profitable the relationships may be damaged permanently. The agreement should always be in writing and the terms extremely clear. The investors must understand exactly what the investor is planning to do and accept the risks involved. The interest rate is decided by the investor and their family and friends.

Prior to looking for a loan to flip a house, it is important the proper research is conducted. The investor must become familiar with the real estate market in the area. This included reliable local contractors and specific neighbourhood details. Any lender will want to see more than simply good credit. They expect to be presented with a solid plan. For any investor ready to flip a home the above sources are a good place to begin. Funding will be acquired more easily through the lenders online. The more traditional lender will charge a higher rate.