Easiest Way to Become Landlord (From a Guy Who Knows)

Passive income is a term we hear about but might not truly understand.  What is passive income?  It’s the ability to generate a source of income where one is not directly involved.  One example can be dividends from stock and bond investments, but a more common passive income is rental income.

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Becoming a landlord and generating income might seem like a big task, but it can actually be done with a relatively simple process.  In the steps that follow, I will discuss the easiest way to become a landlord.  These steps are easy because I have done it, and it wasn’t very difficult.

Easiest Way to Become a Landlord (3 Steps)

Step 1:

The first step in becoming a landlord is to own a property, and thus purchasing one.  Right after school I moved to a brand new city I had never lived in before.  I lived with an old friend for six months before I purchased my first home.  Whenever you begin thinking about purchasing a residence, always make sure you know the area.  For example, the home I purchased was near a local college and had many long-term residents as neighbors.  To complete this step requires a little bit of research, an understanding of the area you reside, and the ability to make the purchase.

Step 2:

Live in the place you purchase.  Many people get caught up in buying a rental property and renting it out immediately.  While this may work for some people, it can be a stressful situation.  You have to make sure the house is in livable condition, you have to market the place, then you have to meet potential tenants at the place throughout the week to show them the property.  All of this adds up and makes finding a tenant a long and complicated process.  By living in the place you purchase for say a year or two, you become comfortable with the property.  You won’t have to travel to show it to potential tenants, you can create your own date the property will become available, and you give yourself time to find another living situation while you look to create income.  I lived in my house for 18 months before I began renting it out.  The best part was that it was right at the beginning of summer which meant… No yard work!

Step 3:

Find a good tenant and pronounce yourself “Landlord”.  Although finding a good tenant isn’t always the easiest part, you can use your best judgement and various tools in order to ensure you are getting yourself into a good situation.  I made all of my applicants run a credit report on themselves and provide me with the results.  Bad credit can sometimes mean a bad tenant.  I also required the tenant to provide an additional month’s rent to ensure payments were never behind.

While there might be many easy ways to become a landlord, for me the easiest way to become a landlord was through the process I outlined above.  I have now been a landlord going on four years and having someone else pay my mortgage feels like quite the accomplishment.

Budget Smart, Invest Wise

 

Don’t Let an Accident Jeopardize Your Stability: Why Income Protection Insurance is Essential to a Family Plan

Every year, millions of Americans find themselves out of work either due to prolonged illness or injury or because their employer has ceased trading. Unfortunately, without the gift of foresight it is just not possible to predict how events may conspire against you in the future but you can take some steps to give yourself maximum protection against all eventualities.

When a principal breadwinner loses their income, it can have a devastating ripple effect on the rest of the family. If the reasons behind your inability to work are medical, there are the additional expenses to factor in to your household budget which has already lost most of its income stream. Struggling to pay for expenses in this situation can lead to additional stress and even confrontation within the family.

What is Income Protection Insurance?

Income protection insurance is also known as permanent health insurance as it is in place over the long term to protect you should you be unable to work due to illness or injury. When you have an income protection policy you will continue to receive a regular income until such times as you are able to return to work or retirement, if that time comes first.

This kind of insurance also replaces part of your income if you have to reduce your working hours due to disability and basically provides solid financial support all the way through to retirement. Most illnesses that leave you unable to work are covered in these policies, whether short or long term conditions and you can make claims as many times as you need to while you hold the policy.

Do you need Income Protection Insurance?

Whether you choose to take out income protection should not be based on whether you have dependents or not, although naturally your family are of concern if you’re unable to work. Income protection is designed to give you a blanket of protection against serious illness so that you can continue to provide for yourself if you are unable to continue working.  If prolonged illness or injury would leave you in a situation where you could not afford to pay your bills, you need to consider it as an option.

For people who are self-employed and at risk of losing considerably more than their income if they should suffer from serious illness, income protection insurance is a must. Not being able to work when you are a sole trader is a more significant problem than if you work for a business organization and there could be some delay in getting government benefits to supplement your income in these situations. Income protection means that you are already set up to continue receiving an income from the moment you are unable to work and best protects you and your family from any financial shocks.

Why is Income Protection Important to My Family?

No matter how secure you are in your job or how confident you are of your financial future, it is impossible to clearly predict. Insurance is an affordable way of protecting against high risk situations such as the possibility of losing a principal income due to serious illness. A good family plan should include adequate support for all other members should one be incapacitated in any way so that the others aren’t disadvantaged. It is definitely worth further research and getting some competitive income protection quotes online.

Stephen Strasburg Net Worth

October is finally here, and for baseball fans around the country that means one thing… PLAYOFFS.  If your MLB team is lucky enough to make the postseason, then you are likely to be glued to the TV throughout the month rooting them on.  One of the teams who did make the playoffs is the Washington Nationals.  The Nationals have seen progress over the past few season and part of it is due to the stellar pitching of Stephen Strasburg.  Stephen has spent all seven of his professional years with the Nationals and is coming off back to back 15 win seasons.  Because of his success, Stephen Strasburg net worth tops out at $25 million.

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Nationals pitcher Stephen Strasburg

At 29 years old, Strasburg has secured his standing as a top pitcher in the MLB.  His professional career began in 2009 when the Nationals selected the pitcher as the first overall pick in the MLB draft.  His initial four year $15.1 million contract was the highest of any rookie ever to that point.  This initial contract helped to jump start Stephen Strasburg’s net worth.  After signing a number of one year contracts with the team, Stephen was finally rewarded a long term contract with the organization.  In May of 2016, Strasburg signed a seven year contract valued at $175 million.  The contract is designed in such a way that gives Strasburg a player option beginning in the 2020 season.  It also includes a performance bonus.  The bonus is based on the number of innings he pitches during the regular season.  If he exceeds 180.0 innings pitched, he is rewarded with a $1 million bonus.

In order to justify his new contract, Stephen went out and performed quite well during the 2016 season.  He posted a 15-4 record and an ERA of 3.60.  He followed it up with another stellar performance in 2017.  For this current baseball season, he has another 15-4 overall record but has lowered his ERA to just 2.52.  Since pitchers in the National League are required to bat, Strasburg even went so far as to hit two home runs during the 2017 season.  He also was able to secure his third All-Star appearance this season representing the National League.

Stephen Strasburg net worth is due in large part to his career earnings while playing baseball professionally.  To date, he has earned over $60 million in career earnings through the 2017 season.  Strasburg is not a super flashy and well known player like his teammate Bryce Harper.  Thus, he lacks a lot of the endorsement deals that come with big name players.

Strasburg is still quite young in terms of baseball’s longevity.  We expect Stephen Strasburg’s net worth to continue to increase over the next years quite substantially.  While his net worth sits at $25 million now, it can easily double in a few years time.

 

 

How To Get the Fire Burning In Your Relationship Again

If we don’t take deliberate action, our lives usually evolve into predictable routines. While predictability is good for stability, it is not good for ensuring that the spark in your relationship keeps glowing. 
If you are currently feeling strains in your relationship, you need to shake things up as fast as possible. Here are some ways to go about it.

Make Surprise the New Normal

Surprising your partner isn’t as hard as you think. People appreciate the small things in life as long as they know that they are coming from a place of love. Your partner knowing that you were thinking of them during the day can totally change the mood of your whole relationship.
Surprises can take the form of flirtatious texts, flowers, dinner, tickets to an event, a cool dress or tie, or anything that communicates to your partner that you love and care for them.

Learn How to Manage Stress

Almost everyone feels some form of stress on a daily basis. While a relationship is a partnership, one needs to appreciate that the partnership consists of two different people. The success of the relationship, therefore, depends on what each one of you brings to the table.
You cannot bring your best to the table when you are stressed out of your mind. As far as your relationship is concerned, look out for the following symptoms of stress:
  • You become easily irritated and start getting into unwarranted arguments
  • You start to have an unhealthy view of relationships in general
  • Your ability to communicate your feelings reduces as you can’t focus
  • You spend inordinate amounts of time distracting yourself with TV or social media
If you think your stress levels are unhealthy, you can talk with your partner about the situation so you start working yourself out of the rut. As with all things, being honest will get your further than you think. If your partner is the one who is stressed, encourage them to relax and give them the support they need to work through the problems they are facing.
Ultimately, you need to communicate to one another that you are still highly committed to one another and that this is a phase that will soon pass.

Remember Why You’re Together

One of the most important things couples can ask each other, and continue to ask throughout a relationship is what makes them compatible.
This question gets at the core of why you’re together in the first place. Think about this for awhile before you bring it up, and make sure you have some good things to say about the relationship or actionable steps to take it to the next level. 
Thinking about why you’re together will remind you why you’re together. Those feelings can come rushing back, and you’ll be stronger for considering them.

Sometimes All You Need Is an Escape

A change of scenery can do a lot to relieve most of the strains you are currently feeling. Traveling to an exotic destination gives you something akin to a fresh start. You also get to escape the physical reminders of the state your relationship is in at the moment.
Travel to a destination that will allow you to engage in a lot of fun activities with your partner. The more active you can be the better. One idea is heading to the Caribbean to get a bit of adventure and beach activities. Staying at an all-inclusive resort will also free you from tedious vacation plans as most of what you need will be included.
Just keep in mind that there are different kinds of all-inclusives. You want to go to one that is set up for couples, not a family all-inclusive. There’s a huge difference between the two. One is for romance, the other is for family bonding. 

Recommit to Romance

It is easier to act your way into feeling a certain way than to feel your way into acting a certain way. It’s a confusing sentence, but read it again, and let the message sink in.
In the same vein, when you constantly engage in romantic activities with your partner, your relationship will become even more romantic and the love you share with your partner will grow even stronger.
The easiest way to change the routine you’ve been in is to start initiating touch again. Touch is very powerful in a relationship. You don’t want to be so comfortable in your relationship that you start living as roommates. Besides love, the one thing that polishes a relationship and makes it shine is romance.
Studies have revealed that couples tend to reduce the amount of touching they engage in as their relationship matures. This is not the right way to go about it. Touching frequently and passionately increases the level of attraction you have for your partner, increases libido, and makes your body release feel-good endorphins that can strengthen the feelings of love you have for your partner. 

Don’t Be Afraid to Ask for Help

Asking for help is probably one of the hardest things to do yet it might be one of the most important things you’ll ever do. We like to fancy ourselves independent but all of us need some shoulder to lean on from time to time.
While your partner may always be there for you, they cannot meet all your emotional needs. The same is true the other way round you cannot meet all your partner’s emotional needs.
Sharing your problems with other people besides your partner such as close friends, family members or a therapist will go a long way in helping you cope with the strains in your relationship.

Andrew Wiggins Net Worth

In today’s age, professional athletes are signing contracts that keep getting bigger and bigger.  In fact, contracts for players of the National Basketball Association are the largest of them all.  Recent negotiations between the players’ union and the association has allowed contracts to reach an all time high.  Andrew Wiggins is one of the players set to benefit from the recent contract negotiations.  The first overall draft pick in 2014 by the Cleveland Cavaliers, Wiggins never played a game with the Cavs, but instead was traded to the Minnesota Timberwolves.  Since arriving in Minnesota, Wiggins has proved why he was the number one overall pick.  His first contract was four years for just shy of $25 million.  Because of this initial contract, Andrew Wiggins net worth sits at $20 million.

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NBA star Andrew Wiggins

Although he is just 22 years old, Wiggins net worth is much higher than almost anyone currently in their 20’s.  Despite only having earned just $17 million through his first three seasons on the court, Andrew Wiggins net worth sits much higher due to his endorsement deal he signed as a rookie with apparel company Adidas.  It was reported that Wiggins endorsement deal with the company pays him roughly $18 million a year.  Couple that with his on court performance, and it is easy to see why they were willing to pay the young star so much.

Wiggins has recently made national headlines for his peculiar way of handling what could be the biggest basketball contract of his young career.  He recently fired his agent, and he is reportedly not jumping at the opportunity to sign a max extension with the Timerwolves which is worth $148 million for five years.  That contract would pay Wiggins nearly $30 million per season and would place him among the basketball elite.  But is Andrew Wiggins worth this massive contract?  The answer is an astounding YES.  In just three years in the league, Wiggins is averaging over 20 points per game, and last season alone he averaged over 23 points in each contest.  He is a solid free throw shooter at 76% and made adjustments to his game to reach a 36% success rate on three point tries.

It was evident that Wiggins was a special talent early on.  In 2013 he was the Gatorade National Player of the Year and Mr. Basketball USA as a senior in high school.  He ended up signing with the Kansas Jayhawks where he played just one season averaging over 17 points per game during the season.  He eventually declared for the NBA draft where he was the first overall pick.  His NBA career got off to a stellar start and he was named the NBA Rookie of the Year along with being apart of the NBA All-Rookie First Team.

Despite not being in any rush to sign his contract extension, Wiggins has expressed that he would like to remain with the Timberwolves in the future.  Although only time will tell, Wiggins with or without an agent is expected to sign an extension of some kind which will pay the young star a great deal of money.  Andrew Wiggins net worth will greatly increase over the coming years as he continues to earn money from not only his new expected extension but also his endorsement deal with Adidas.

Are Precious Metals a Good Investment for you?

Precious metals are undoubtedly one of the most popular commodities to trade, not least because of the strength they add to the average investment portfolio. There are, of course, many factors to consider before investing in them, so it is worth knowing how they behave on the market and when the best time to invest is. Here are some considerations on precious metals.

Market Behaviour

Often traded through brokers like LCG, precious metals (gold, silver and platinum) exhibit unique market behaviour, and are considered a fairly steady investment. Gold is often used to hedge a portfolio against investment risk.

Given that their core value doesn’t really decrease, they are seen as the go-to commodity in times of political and economic uncertainty. This is because other, more volatile assets (like currencies) become incredibly difficult to invest in due to their unpredictability, and thus their value can often decrease dramatically.

Current Performance

It is worth noting that the behaviour of each individual precious metal is often mirrored by the other precious metals, Silver’s market behaviour, for instance, is incredibly similar to gold’s. Precious metals have, by their standards, had a fairly volatile year, with the value of gold currently standing at around $1,338/oz (as of 06/09/2017), almost exactly the same value as it was a year ago.

This is up from $1,157 at the start of the year. It is likely that tensions between the US and North Korea have contributed towards this surge in value, and it could well be the case that gold’s value decreases if this eases off. Silver’s market behaviour has been much the same over the last year, so compared to earlier in the year these metals are now very expensive.

Are They a Good Investment?

Compared to their value five years ago, precious metals are trading are a fairly low price. That being said, it seems as though they could well be on the rise again after a significant period of geopolitical turmoil, so watching the market carefully is bound to be a good idea.

Silver and platinum also have fairly widespread industrial uses, so any surge in demand for them could well see their price rise sharply.

Precious metals will always be a good investment to hedge against risk, but currently they may be seen as overvalued/too expensive by buyers. Many may be looking to sell in the short term future to take advantage of their current value.

Relocating to Singapore: How to Manage your Finances

If you choose to relocate to Singapore from the UK, you are making a popular and increasingly sensible decision. After all, this is regarded as the easiest Asian city for UK ex-pats to adapt to, while it is also a safe and family-friendly location that delivers an exceptionally high standard of living.

Mercer’s cost of living survey regularly lists Singapore as one of the top 10 most expensive cities in the world, entering the top five as recently as 2015. This means that you will need to plan your finances carefully when moving to Singapore, whether you are relocating for work or as part of ambitious retirement plans.

Managing Your Finances When Relocating to Singapore

So, here are some key tips to consider when relocating to Singapore, as you look to make a seamless financial transition to living abroad:

  1. Allow Time to Accumulate Savings

Let’s start with the basics, as the cost of living and purchasing property in Singapore is noticeably high. In fact, Morgan Stanley has predicted that Singapore’s property prices could double by the year 2030, with sustained hikes forecast for 2018 and beyond.

This means that you must allow time to accumulate savings and organise your finances, and you may need expert assistance to help with this. Wealth management firms such as Tilney can fulfil this role, as they combine financial advice with investment options to help optimise your capital and build savings for the future.

  1. Understand the Intricacies of Currency Fluctuations 

While the British pound (GBP) has currently enjoyed two-week highs against the Singapore Dollar, the spectre of Brexit may cause the continued devaluation of sterling over time. This means that buying Singapore currency and translating your wealth may prove difficult, which is why you must monitor macroeconomic trends and ensure that you transfer your money at the optimum time. Similarly, you must also try to convert currency without incurring huge fees, as these can also eat into your accrued capital.

  1. Consider the Miniscule Costs of Living

 Even with savings and a pronounced understanding of finance, relocating to Singapore can still be challenging. This is because there are small details associated with day-to-day living that must be attended to, and these seemingly insignificant costs can quickly accumulate over time.

Singapore has its own, unusual form of TV licence, for example which is a generic tax applied to anyone who owns a television. This must be paid annually, so you must have a full understanding of costs before completing your move.

Jim Harbaugh Net Worth

College football coaches are under heavy scrutiny in this day in age.  With social media and a constant flow of news 24 hours a day, being in charge of a college football program has never been more difficult.  However, when you consistently win, coaching can be quite enjoyable.  In comes Jim Harbaugh, head football coach of the Michigan Wolverines.  Harbaugh is currently in his third season as head coach of the Michigan Wolverines, and he has led the team to success they haven’t experienced in decades.  His teams went 10-3 during his first two seasons, and is currently undefeated through the first four games of the 2017 season.  Because of his early success in Ann Arbor, Jim Harbaugh has been able to secure a high salary of $9 million for the 2017 season.  His coaching success throughout the years has helped balloon Jim Harbaugh net worth to $22 million.

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At 53 years of age, Jim has been around football his whole life.  He played quarterback for the Michigan Wolverines during the 80’s and led his team to the Rose Bowl during the 1986 season.  He finished third in the Heisman voting that year and went on to be a first round NFL draft selection by the Chicago Bears.  Harbaugh went on to play 14 seasons in the NFL for a number of teams.  He finished his NFL career with over 26,000 yards passing and 129 touchdowns.  In the late 90’s, NFL salaries weren’t what they are today, and along with playing, Jim took an unpaid assistant coaching job with his father at Western Kentucky.

Jim spent a season as an assistant coach in the NFL after his playing career was over before finally becoming a head coach for the University of San Diego.  Jim had a combined 29-6 record at the helm and led the team to back to back 11-1 seasons and two conference titles.  His west coast success didn’t go unnoticed and he soon became the head coach of power five school Stanford.  Jim only spent four season as the head coach for the Stanford Cardinals, but in 2010 he took his team to the Orange Bowl where they won and finished the season with a 12-1 record.  He eventually found himself coaching in the NFL again as the head coach of the San Francisco 49ers.  He coached against his brother, John Harbaugh, in Super Bowl XLVII where his Niners team lost by a field goal.

Eventually Jim landed up in Michigan where he is now and where he has stated he’s always wanted to be.  Jim Harbaugh net worth comes from his long career in the NFL as a player and his successes as a head coach at multiple levels.  For the 2017 football season, Jim’s $9 million salary makes him the highest paid coach in the sport.  We expect Jim to continue coaching for the Wolverines for a while longer, and thus we expect Jim Harbaugh’s net worth to continue to increase.  While coaching salaries have gotten higher over the years, so have the expectations.  If Jim can continue to meet and exceed the expectations of the Wolverine faithful, he can go down as one of the great coaches in all of football history.

Plan for the Unexpected: Why Home Insurance Can Save Your Future

Buying a home is one of the most significant financial commitments you make in life and so it makes sense to protect the building that houses your family from unexpected events. Severe weather is becoming an increasing threat on a more widespread level than ever before and so unless you have a crystal ball, it’s essential to have a strategy in place to protect your greatest asset – your home.

Here are some tips to help you prevent damage to your home:

  • Choose your insurance wisely: It’s important to completely understand your home insurance policy and what it covers in the event of your home sustaining any damage as a result of severe weather or any other cause.
  • Do you need Umbrella coverage? An Umbrella home insurance policy helps protect you from any incident or accident involving your home, including events where you’re determined as being at fault. Say for example your home is damaged as a result of someone leaving the taps running in the bath which causes extensive damage to the floor and ceiling of the room below. An Umbrella policy will protect you in events such as this.
  • Does your policy have full replacement coverage? This kind of home insurance policy provides for a rebuild of your home or replacement of items in it based on today’s prices. Other policies not offering full replacement cover only provide for the original cash value or market value of your home and its contents.
  • Keep detailed records: Make sure that you have all the details of your policy and who to call in the event of making a claim somewhere safe. When you’re in the middle of an incident and you are panicking about what to do, knowing where to look for the information you need is of great comfort. Most people have access to cameras with their smartphones these days which is important when it comes to making claims as photographic evidence can go a great way to substantiating the extent of damage done.
  • Keep an up to date inventory of your possessions: When you first take out your policy, make a video record of each room in the house, focusing on the items covered by your policy. Keep this information with your other policy details and if you make any purchases of significance, update your policy and take a picture of the new item to keep your records straight. Having as much information as possible ensures a really smooth process should it come to making a claim.
  • Small home improvements can make a big difference to your premiums: If you live in an area that is prone to extreme and serious weather conditions, making the alterations to your building to protect it from these outcomes can significantly reduce your home insurance premiums. Similarly, if you live in an area where there is a lot of reported burglaries, installing a security system as extra protection can also affect how much your home insurance costs.

Protect Your Home Against Any Eventuality with the RIGHT Home Insurance Policy!

This is why you should consider a reliable home insurance provider like TrustedChoice.com, who know the importance of taking the right steps to protect your home against the uncertainty of the future. Without the give of foresight, it’s just not possible to gauge how events will pan out or how your home may or may not be affected. Taking precautions by setting up a comprehensive policy that protects your most important asset over the long term gives you enormous peace of mind.

Bill Belichick Net Worth

Bill Belichick is the head coach for the New England Patriots of the National Football League.  The 65 year old has been the head coach of the Patriots since 2000.  He is currently in his 18th season of coaching with the team and his 23rd of coaching in the NFL.  His success with New England is unparalleled in professional sports.  Due to his high success in coaching, Belichick has easily earned his yearly salary estimated to be around $7.5 million.  This high salary and his the constant success of his teams on the field have helped make Bill Belichick net worth $40 million.

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New England head coach Bill Belichick

Belichick became enveloped in sports from a young age.  He played football in college for Wesleyan University in Connecticut, but his passion for the game didn’t stop there.  Bill spent many seasons in the National Football League slowly working his way up to the top.  His first chance to become a head coach was in 1991 when he was given the reigns to the Cleveland Browns.  He coached for the team for five seasons with his best record being 11-5 during the 1994 campaign.  He was eventually let go after the Browns went 5-11 during the ’95 season and the team moved to Baltimore.  It wouldn’t be until the year 2000 when Belichick was once again announced as a head coach, this time for the New England Patriots.

In his first 17 seasons with the Patriots, Belichick has led the team, with help from quarterback Tom Brady, to an astonishing 201-71 regular season record.  Belichick wasn’t just good at winning, he was good at winning championships.  Bill has coached the Patriots to five Super Bowl titles during his stint.  Additionally, the team has made the playoffs in 14 of his 17 seasons and has 14 AFC East division titles to go along.  The Patriots are the defending Super Bowl champs after a come from behind victory against the Atlanta Falcons in Super Bowl LI.

So what helps to make Bill Belichick net worth so high among coaches?  Ultimately it is his teams success year after year.  He is a five time Super Bowl winner as a head coach, a two time Super Bowl winner as an assistant coach, and a three time winner of the AP NFL Coach of the Year award.  That many awards over a coaching career is sure to make almost anyone a wealthy individual.

We believe that Bill Belichick net worth will continue to increase over the coming years.  He is one of the highest paid coaches in all of football history and as long as his team continues to produce we don’t see him retiring anytime soon.  We have seen many coaches continue their careers well into their 70’s, and we shouldn’t expect anything less from this future Hall of Fame inductee.