Investing for Retirement - Real Estate
Real estate prices are falling, stock prices are falling, so where can I put my money? While few people have money to play with these days, it doesn’t take a lot now to have some nice savings later.
Yes, market prices are dropping. While this isn’t a great market for people trying to sell, it is great if you have money to spend and it doesn’t cost as much as you might think.
Real Estate Auctions. If you have some money set aside for a down payment, consider checking out auctions. You can get some excellent deals as long as you have money for the initial payment and can come up with a mortgage or the remaining balance within 30 days of the close of the auction.
http://www.williamsauction.com/ This website has auctions on a monthly basis with some properties starting at $1,000. While the lower end auctions often need rehab work, if you are not interested in rehabbing, there are plenty of other properties in very good condition. Check back every month for the new properties because while there might not be something you are interested in one month, the next month there might be several.
When attending auctions in person or online, you need to first check out the property you are interested in. Look for any repairs that will be needed to modify the property for your needs. If you are going to rent out the property, does it have appliances, are new carpets needed, what repairs are necessary to make it hospitable. You need to take all these costs into consideration when determining how much you are willing to bid on the property. Once you know all these expenses, determine what you are willing to bid and stand firm. In these auction settings it is easy to get caught up in the excitement and desire to win, however, you can’t let that cloud your judgment. Once you have determined what you would like to pay, you should also determine the absolute most you would be willing to pay and still be profitable.
Real estate auctions can be a great way to find a vacation home at a great price or to start developing a few properties to rent out for some extra income.
Alternative ways to pay for Christmas
Many stores are touting their layaway plans this year as well as store credit cards. While these are both ok options, I prefer to stay away from credit cards and thus avoid the temptation to overspend. So this year, instead of throwing Christmas on your credit cards or putting something on layaway, check out these great ways to save or make a few extra bucks that you can put towards the Santa fund.
1. http://www.volition.com/
This site offers information on getting paid to surf the web, freebies from a variety of websites, coupons, and much more. I often use Volition to sign up for mystery shops when I have some free time. While mystery shops will not pay the bills, they are great if you want some extra cash. Many sites make you pay to have access to this information but with Volition you get it all for free. So if you are interested in making some extra money shopping or eating out, don’t pay for the info, check it out here instead.
2. http://riveroffers.com/?cogid=frend&refid=
This site offers everything you can imagine, If you are tired of your current cellphone provider, check this site out. You get the newest phones free from all the name brand providers plus free shipping and accessories as well! My husband and I don’t shop anywhere else when it comes to cellphones because nobody has been able to beat these deals. They also offer over 25 different credit cards sorted by what you want out of your card, ie points, low interest rate, cash back, etc. They also offer web hosting, domain names, high speed internet and much more. The best part, you can become an agent for free and then purchase what you need from yourself for additional discounts. Check it out.
3. www.couponmom.com
While not as exciting as the other two, this website offers a variety of ways to save money on your grocery bill and nights out on the town. Their weekly emails give you the best sales in town and options to print out coupons for additional savings.
If you need more money, consider a second job
If you’ve already reduced your expenses as much as you possibly can, but still need more money to fix your finances, consider a second job.
From blogging to a shift at Starbucks, there are many part-time opportunities that can help you get out of debt.
Blogging
From advertising that pays out depending on how many times you view it to sponsored posts, if you have a gift for writing you could consider updating blogs to create a part time income.
Retail Jobs
Really any retail or coffee shop has evening hours available in most cases. Unfortunately, these jobs can be difficult to get during summer and local school holidays, because college kids come back and fill those positions in. Of course, that means the best time to look for these jobs is right after a school break or after local summer vacation has ended.
Hobby Business
Do you have a hobby? Scrapbooking, crafts, soapmaking…almost every hobby can be turned into a small business in order to make a little extra cash. Sites like Etsy.com will help you sell your handmade crafts.
If you decide to do a local blog or sell your hobby services to your neighbors or local business, the best way to get your name out there is a networking event. Many networking events are held at night, so you can go after you get off work. No business cards? No problem. You can either get inexpensive business cards at Officemax or Staples.
There are many types of part-time jobs, as well as many different people you can work with. If you have the determination to make extra money to get your finances on track, you can do it.