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Dream Getaways: Maui beachfront home listed for $12.8M

Built in 1976 and remodeled in 2003, the four-bed, five-bath home includes a one-bed, one-bath ohana unit above the garage......»»

Category: topSource: bizjournalsNov 24th, 2022

Here"s how the Trump family spends their billions, from a $11 million beachfront estate in St. Martin to a $15 million fleet of private aircraft

Former President Trump, who recently announced a 2024 White House campaign, has a net worth of $3.2 billion, per a September 2022 Forbes estimate. Donald Trump and his family.Brendan McDermid/Reuters Former President Donald Trump's net worth is estimated to be $3.2 billion, according to Forbes. Combine that with the reported individual net worths of the Trump children, and the entire Trump family could be worth over $4 billion. They spend their money lavishly, from a hefty real-estate portfolio to an aviation fleet and designer clothes. Former President Donald Trump's net worth is currently estimated to be $3.2 billion, according to a Forbes report from September 2022.And that's not to mention the individual net worths of his adult children: a reported $25 million each for both Donald Trump Jr. and Eric Trump, according to Forbes; and a reported $600,000 for Tiffany Trump, according to Cheat Sheet. Ivanka Trump, who runs her own business, has the largest net worth of all the children. She and her husband Jared Kushner are estimated to be worth around $1.1 billion, as best ascertained by ethics filings reflecting the couple's real estate holdings and additional investments.Combined, that means the entire Trump family's fortune could be well over $4 billion.From pricey penthouses and expensive schooling to high-end shopping and a full-on aviation fleet, here's how they spend their money.Donald Trump's net worth is currently estimated to be $3.2 billion.Pool/Getty ImagesSource: ForbesAccording to his executive branch personnel public financial disclosure report, he earned anywhere from $597,396,914 to $667,811,903 between January 2016 and spring 2017.Ian MacNicol/Getty ImagesSource: Business Insider, Center for Responsible PoliticsAbout $790 million of Trump's wealth comes from his brand businesses — $730 million from the Trump Media and Technology Group, and $54 million comes from the Trump Hotel Management & Licensing Business.President Donald Trump talks to reporters as he boards Air Force One for travel to Pennsylvania from Morristown Municipal Airport in Morristown, New Jersey, on August 13, 2019.Jonathan Ernst/ReutersSource: ForbesAnd $550 million of Trump's net worth consists of cash, trophies, and personal assets. Of that, $375 million is cash and liquid assets, according to Forbes.AP ImagesSource: ForbesBefore he was elected to the White House, Trump spent $66 million of his own money on his presidential campaign, according to campaign finance disclosures examined by Reuters.Republican presidential candidate Donald Trump speaks during a campaign rally, Friday, Nov. 4, 2016, in Hershey, Pa.Associated Press/Evan VucciSource: FortuneTrump often traveled during his campaign using his huge aircraft fleet. He reportedly bought a Boeing 727 for $8 million back in the day, and then replaced it in 2010 with a Boeing 757 that he bought from Microsoft's Paul Allen for $100 million.APAccording to the New York Times, it burns fuel at a rate of thousands of dollars an hour.Source: The New York TimesTrump also owns a Cessna jet, which was reportedly worth $15.3 million when it was new and had a resale value of $3.2 million in 2016.John Locher/AP ImagesSource: The New York TimesCollectively, Trump's fleet, comprising two airplanes and one helicopter, is valued at $15 million.Matthew Busch/Getty ImagesSource: ForbesTrump has an affinity for Brioni suits, which range from $5,250 to $6,900. While the brand supplied him with suits during "The Apprentice," he started paying for them during his 2016 presidential campaign.Scott Olson/Getty ImagesSource: Business of FashionMelania Trump also has a taste for pricey fashion. She's been spotted wearing everything from a $2,095 Givenchy cape dress at an International Red Cross Ball to a $7,995 Monique Lhuillier sequined gown at a White House Historical Association dinner. And then there's also the time when she donned a $52,000 Dolce & Gabbana jacket.Alex Wong/Getty ImagesSource: Cheat Sheet, Cheat SheetOn several occasions, the former first lady's also worn more casual and affordable brands, such as Converse, which retail for less than $50.Andrew Harnik/ShutterstockSource: Business InsiderMelania has had her own makeup artist, Nicole Bryl, who once told US Weekly of Melania's plans to have a "glam room" in the White House. She also has a hairstylist who makes house calls and travels with her.U.S. first lady Melania Trump arrives in the Rose Garden to speak at the White House May 7, 2018 in Washington, DC.Getty Images/Win McNameeSource: Cheat SheetMelania has said she's a full-time mom and that she refuses to spend money on a nanny. In 2013, she told ABC News that she dresses her son, Barron, in suits and moisturizes him with her brand's Caviar Complex C6 moisturizer. He was seven years old at the time.First lady Melania Trump and Barron Trump walk to board Marine One on the South Lawn of the White House, Tuesday, Nov. 21, 2017, in Washington.Associated Press/Evan VucciSource: Business Insider, ABC NewsIn New York, Barron was attending Columbia Grammar and Preparatory School, which can costs upward of $59,000 a year. While he lived in the White House, he attended St. Andrew's Episcopal School in Maryland, which can cost up to $47,000 a year. He now attends the Oxbridge Academy in West Palm Beach, Florida, near his father's Mar-a-Lago club.Mark Wilson/Getty ImagesSource: Cheat Sheet, The Washington Post, CNNThe three of them lived in the $51 million penthouse in Trump Tower in New York before moving into the White House in 2017. Trump reportedly has said the penthouse spans 33,000 square feet, but city records indicate that it's actually 10,996 square feet.Mark Lennihan/AP PhotosSource: ForbesThe Trumps also have real estate in sunnier climates, including Le Chateau Des Palmiers in St. Martin, worth $11 million.Le Chateau Des Palmiers.Google MapsSource: Business InsiderThey also have a 39,000-square-foot mansion in Bedford, New York, called Seven Springs, for which they reportedly paid $7.5 million. The home, used for family getaways, is reportedly worth roughly $20 million.Craig Ruttle/AP PhotosSource: Business Insider, Business InsiderThen there are the two homes in Sterling, Virginia, worth a collective $2 million — and his Palm Beach properties, worth a collective $78 million.Palm Beach.pisaphotography/ShutterstockSource: Business Insider, Palm Beach Daily NewsAnd then there's his golf courses and clubs, worth an estimated $740 million, in the US, Scotland, and Ireland.Trump at the Trump National Golf Club in Westchester in 2006.Goshorn/Media Punch via APSource: ForbesThat includes the $325 million Mar-a-Lago, a 17-acre estate in Palm Beach that Trump reportedly purchased for $10 million. It has 58 bedrooms, 33 bathrooms, 12 fireplaces, and three bomb shelters.Joe Raedle/Getty ImagesSource: Business Insider, ForbesDonald Trump Jr. also owns real estate in Manhattan. He bought two apartments at the Sovereign for $1.5 million and $1.125 million, Town & Country reported. The publication speculated that he combined the two apartments.Donald Trump Jr.Sue Ogrocki/APSource: Town & CountryEric and Donald Jr. are big game hunters, which can be very expensive. A 14-day white rhino hunt can cost $66,790.Dan Kitwood/Getty ImagesSource: Cheat Sheet, USA TodayMeanwhile, Ivanka Trump is busy building her own empire. Between January 1, 2016, and May 31, 2017, she earned at least $13.5 million in income, according to forms released by the White House. More than $5 million came from her namesake brand, more than $2.5 million from the Trump Organization, and nearly $800,000 for book and TV work.Andrew Harnik/ShutterstockSource: CNNSome media reports speculated that Ivanka Trump and Jared Kushner's 2009 wedding at Trump National Golf Club cost them at least $1 million.Rob Carr/Getty ImagesSource: Cheat SheetThe couple's combined assets could be worth at least $1.1 billion, according to ethics filings.Manuel Balce Ceneta/ShutterstockSource: CNNThat includes a $25 million art collection.Ivanka and Jared's art collection not pictured.r.nagy/ShutterstockSource: CNNOnce Trump took up residence in the White House, Ivanka and Jared moved to Washington DC, where they lived in a $5.5 million house in the upscale Kalorama neighborhood.Pool/Getty ImagesSource: Cheat Sheet, Town & Country, New York TimesLike her stepmother, Ivanka also steps out in a mix of high-end and fast fashion, from a $6,280 Oscar de la Renta dress and coat to an $870 Roksanda dress and a $35 Victoria Beckham for Target dress.Pool/Getty ImagesSource: Cheat SheetTiffany Trump's schooling was always paid for by Donald Trump, according to a source who talked to People Magazine. She attended the University of Pennsylvania for undergrad and graduated in 2020 from Georgetown Law School, which costs upwards of $60,000 a year.Alex Wong/Getty ImagesSource: People, Cheat Sheet, The Washington Post, Georgetown Law SchoolShe's been spotted wearing $725 Aquazarra shoes and has worn couture designer Daniel Basso — whose gowns can cost thousands of dollars — to formal events several times.Astrid Stawiarz/Getty ImagesSource: Teen Vogue, Cheat SheetTiffany Trump married businessman Michael Boulos in November 2022 at her father's Mar-a-Lago club in South Florida. Her engagement ring was reportedly worth $1.2 million.Tiffany Trump, left, and Boulos, right.Manuel Balce Ceneta/APSource: InsiderThere's debate on the extent of Trump's philanthropic efforts, but in 2009, he and Melania donated $5,000 to $9,999 to the Police Athletic League of New York City. He also donated $1 million of his own money to Hurricane Harvey relief in 2017.President Donald Trump (R) and first lady Melania Trump walk across the South Lawn before departing the White House July 25, 2017 in Washington, DC. Trump is traveling to Ohio to participate in a 'salute to American heroes' and a 'Make America Great Again Rally.'Chip Somodevilla/Getty ImagesSource: The New Yorker, GOBanking Rates, The Washington PostRead the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 24th, 2022

Dream Getaways: Maui beachfront home listed for $12.8M

Built in 1976 and remodeled in 2003, the four-bed, five-bath home includes a one-bed, one-bath ohana unit above the garage......»»

Category: topSource: bizjournalsNov 24th, 2022

Proof Of Resilience: Financial Freedom Through Bitcoin In Africa

Proof Of Resilience: Financial Freedom Through Bitcoin In Africa Authored by 'Alexandria' - a citizen of Zimbabwe - via BitcoinMagazine.com, Bitcoin offers financial opportunities that have been explicitly taken from Africans in recent history... HAVE THE MAJORITY OF AFRICANS EVER HAD ACCESS TO WEALTH LIKE BITCOIN? If the question were to be posed, “Do many people in Africa have shares in Google, Amazon or Microsoft?” or “Have many people, from Africa, built wealth from any of the above listed public companies?” The answer, for the majority of individuals in Africa, would be a resounding “No.” The main reason why a lot of Africans are not able to participate in the New York Stock Exchange (NYSE) is that one has to have banking interoperable with American systems. Within this American system, individuals operate and deal with either American brokers or American banks that are all part of an exclusive and impenetrable closed monetary network. These financial institutions and organs almost always require sizable amounts of money from foreigners for the minimum account opening deposits or balances. In recent years another crippling stipulation posed to non-American applicants is that their country of citizenry must presently have good bilateral relations with the United States of America. If, like myself, you were born in a sanctioned country, you will suffer from unilateral illegal sanctions imposed by the U.S. Office of Foreign Assets Control ("OFAC") which will block any access to the NYSE and many other Financial markets and services. “I was born in 1930 the odds were probably 40/1 against me being born in the United States. I did win the ovarian lottery on that first day and on top of that I was male and if I’d been female my life would have been far different. So put that down as 50/50 shot and the out of the odds are 80/1 against being born a male in the United States and it was enormously important in my whole life." - Warren Buffett Warren Buffett states that it was enormously important that he was born in the USA. This is true because if you were to Google search Warren Buffett’s annual report you would see that his returns, over the last 57 years, averaged 20% returns on compound interest alone. This resulted in Warren Buffett achieving a compounded 3,641,613% return on his investments. Warren Buffet demonstrates the numerical importance of accessibility and the importance of participation in financial markets, especially markets as liquid as the NYSE. This, for the most part, excludes Africans. ACCESSIBILITY TO WEALTH THROUGH CREDIT FOR AFRICANS AND AFRICAN AMERICANS The Great Depression may have started because of a stock market crash, but what hit the general economy was a disruption of credit — every citizen was unable to borrow money, rendering them incapable of doing anything. Credit has the ability to build a modern economy, but lack of credit has the ability to destroy them, swiftly and absolutely. Let’s start off with the subject of discrimination that has lead to part of the impoverishment of my people. AFRICAN AMERICAN ACCESS TO CREDIT: Redlining: The term came about when the government created color-coded maps that told banks where they could give out housing loans. Green sections were a go ahead and red sections populated by black people were deemed too risky. Redlining blocked off entire black neighborhoods from access to public and private investment. Banks and insurance companies used these maps for decades to deny black people access to loans and other services based purely on race. Home ownership is the primary driver of wealth but African Americans in their neighborhoods paid higher insurance premiums, higher interest rates and were denied mortgages more often. “You can’t get a loan, you can’t own a home, you can’t start a business. Which means you can’t build wealth. You’re excluded from the American dream. Why is it so important to you to exclude an entire race of people from the American dream?" -  Anthony Mackie in, “The Banker” AFRICAN ACCESS TO CREDIT: In 1930 the land apportionment in Rhodesia (now known as Zimbabwe) made it illegal for native Africans to purchase land outside of the established native lands. The native African population was above 1 million while that of the Europeans was less than 50,000. That put the European population at only 5% of the population yet they had more than 51% of the land while 95% of the population only got 28% of the dry rocky lands which were called “reserves.” In 1980 Zimbabwe became independent, after a long war. They then began negotiations for a settlement at the end of the war which led to an agreement termed The Lancaster House Agreement. The Lancaster House Agreement stated that the new government could not draft legislation to compulsorily take land for the next 10 years. The only way landless black people could be resettled is if they were to buy from whites that wanted to sell. Only a few white farmers did sell. Up until the 1990s less than one million hectares of land was given up for resettlement only. “Only 19% of the almost 3.5 million hectares of resettled land was considered prime or farmable. 75% of the best land was still about 4500 white farmers.” - Human Rights Watch In 2000 land reform programs began, white farmers were forcefully displaced from farms and were replaced by new black farmers. This was a massive deal internationally and historically. It had never been attempted before. Zimbabwe also challenged imperialistic powers by joining the fight for an apartheid-free in South Africa. Zimbabwe also joined the fight against imperialism in The Congo. So in 2001 the United States of America reacted by enacting two types of sanctions. The first were Congestional Sanctions: ZIDERA , Zimbabwe Democracy and Economic Recovery Act Stops Zimbabweans from getting loans from multilateral lending institutions. Especially restructure and development loans. The second are Executive Order sanctions. America has tried to call it targeted sanctions but when you look at the list of targeted sanctions you see a prohibition for any company in the world to do business with Zimbabwe. Otherwise those companies will be penalized or face jail sentences according to the International Economic Emergency Powers Act. These were unilateral sanctions imposed by the United States of America. These unilateral sanctions were only possible because the United States currency dominates the world's payment systems and a major portion of the world's global business is done in America. So anybody that wants to do business often has to do it with America and has to cooperate with America. They need to have a bilateral agreement and relationship with America. Yet these bilateral relationships are the ones that America uses to enforce its sanctions or what we call the executive order Sanctions and these ensure that other countries across the world implement those sanctions or suffer secondary sanctions. Executive order sanctions actually state that if a country or company assists the government of Zimbabwe with software, finance, logistics, machinery, equipment in trade that company can also face sanctions because the Americas are trying to make the sanctions effective. However, those who place international sanctions argue that our sanctions are actually self imposed sanctions due to the fact that even before the ZIDERA sanctions of 2001 — in 1999 Zimbabwe failed to pay its debts to the International Monetary Fund and the World Bank which meant that Zimbabwe was banned from access to credit from these two multilateral institutions. Then again there is a misconception that sanctions in Zimbabwe did not start in 2001 but rather actually started in 1980 when we got independence. At independence Zimbabwe was left with Rhodesia’s debt. Additionally Zimbabweans were not given reparations for the destruction made by the Rhodesians that cost the nation over a trillion dollars. ANOTHER CASE OF SELF-IMPOSED SANCTIONS In Zimbabwe the interest rate is 30% per month. In only four months the interest paid on the loan would be more than the principal. This is because Zimbabwe’s interest rates have to continuously be re-adjusted in order to compensate for the hyperinflation which peaked at a whopping 600%. In addition — Zimbabwe does not have a sovereign credit rating from the three international credit rating agencies. The government has not yet solicited a rating from the big three rating agencies. It is among the African countries that are yet to request an international sovereign rating. A favorable rating enables governments and companies to raise capital in the international financial market. Institutional investors in both the developed and developing world rely heavily on rating agencies in making investment decisions. Being unrated makes it harder for the government to get funds for big debt projects or to get debt relief. It makes it harder for entrepreneurs who are struggling to grow their businesses due to lack of funding. Individuals who lack funding cannot get a mortgage and hence cannot own a home of their own. The end result is that under these circumstances one cannot build wealth. CAN BITCOIN FINALLY GRANT AFRICANS FAIR AND FREE ACCESS TO WEALTH? For centuries, Africans and African Americans have suffered from severe discriminatory policies in regards to access to credit through redlining and sanctions which both prohibited credit or increased the cost of credit. The innovation of Bitcoin was imperative for Africa and African Americans as it allowed anyone on earth access to it, and this time it includes Africans. It is not a surprise at all that Sub-Saharan Africa is leading in Bitcoin adoption. This time Africans and African-Americans don’t have to worry about discrimination. Thanks largely to the innovation of DeFi on bitcoin, this is the long awaited-for innovation and crucial step in Bitcoin scalability and utility in Africa.  Tyler Durden Wed, 11/23/2022 - 02:00.....»»

Category: blogSource: zerohedgeNov 23rd, 2022

Historic Schuster Mansion, a Turnkey Bed-and-Breakfast in Milwaukee, Wisconsin, Goes Up for Auction

Historic Schuster Mansion located in Concordia District, Near West Side in Milwaukee, built by tobacco industrialist George J. Schuster in 1891 and now operating as a beloved bed-and-breakfast attracting guests from every continent, is up for auction.  Beth Rose Real Estate and Auctions is handling the sale with a deadline for online bids... The post Historic Schuster Mansion, a Turnkey Bed-and-Breakfast in Milwaukee, Wisconsin, Goes Up for Auction appeared first on Real Estate Weekly. Historic Schuster Mansion located in Concordia District, Near West Side in Milwaukee, built by tobacco industrialist George J. Schuster in 1891 and now operating as a beloved bed-and-breakfast attracting guests from every continent, is up for auction.  Beth Rose Real Estate and Auctions is handling the sale with a deadline for online bids at noon, central time, on December 17, 2022. The property was lovingly restored by current owners Laura Sue and Rick Mosier who spent approximately $1 million on renovations including replacing all 110 windows, details such as hand-stenciled wallpaper, and a Victorian-themed garden costing $200,000. Schuster Mansion, designed by the prominent architectural firm of Crane & Barkhausen and built in the German Renaissance style, constructed of red sandstone, red brick, and rich red terracotta accents, is listed on the neighborhood, city, national and state Register of Historic Places. It has also become a popular destination for high tea lovers, with Laura Sue Mosier wearing 1890s clothing and teaching table etiquette and history lessons as she serves delicious scones, savories and more; in December 2021 alone, there were 700 reservations for tea. Wedding parties, bridal showers and other events are all celebrated at Schuster Mansion, known locally as “The Wells Street Red Castle”. The property has seven guest rooms, some of which are suites, offering accommodation for up to 18 guests. Each room is individually decorated with period details and preserved architectural features; Molly’s Suite contains personal artifacts from Schuster’s second wife Molly including her wedding vows, guest book and personal photos, all donated by a Schuster family relative. The first floor’s enchanting space houses a Ladies’ Parlor, formal dining room, library, sunlit conservatory, and a Gentlemans’ Parlor, which has been converted into a gift shop. The property also includes 1,200 square foot private quarters for the inn keeper. For auction details click here; for images of Schuster Mansion click here. “When we bought the mansion 15 years ago, we were determined to preserve the style and details of this property for future generations and it has been our passion to do so,’ said Laura Sue Mosier. “Now it is time to hand over the keys to this piece of history to a new innkeeper. We are offering our unique bed-and-breakfast as a turnkey business, including the mansion’s furnishings, fixtures, equipment, and recipes.” Mosier said that she had made countless friends from all over the world and has hosted guests with a variety of interests, including history buffs, nudists, murder mystery enthusiasts, overseas guests in search of a traditional Thanksgiving, and plenty of baseball fans (because of the property’s proximity to American Family Field, home of the Milwaukee Brewers). One month alone she counted guests from 18 different countries. For the past 15 years, one couple has celebrated their anniversary every year staying at Schuster Mansion. “And one Australian guest loved our bed-and-breakfast so much that she cut short her travels around the US to come back to us and now calls me every year on my birthday,” said Mosier. Schuster Mansion has been featured in an award-winning short film called “The Wheel”, on PBS programming and on local TV news channels, and used for photo shoots, music videos and film projects. Beth Rose, owner of the auction company handling the property, says Schuster Mansion offers potential innkeepers a charming and unique property that is a Milwaukee landmark, and is also an immediately operational business. “The Mosiers’ attention to detail has created a property that is not only captivating, but also offers the opportunity to generate an impressive income through the bed-and-breakfast bookings, weddings, events, plus the extremely popular high teas,” she said. “This is the opportunity of a lifetime for anyone with a dream of owning a bed-and-breakfast, and in this case, a magnificent mansion too.” The post Historic Schuster Mansion, a Turnkey Bed-and-Breakfast in Milwaukee, Wisconsin, Goes Up for Auction appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyNov 21st, 2022

Sam Bankman-Fried’s Island Haven Is Drawing Scrutiny After FTX Demise

For the Bahamas, the collapse of one of its most visible companies is a blow to a years-long effort to build a digital-currency hub. Sam Bankman-Fried loved living in the Bahamas. Shacked up in his luxury penthouse with nine FTX colleagues, he could wander Nassau without being hassled. And the Bahamas loved Bankman-Fried, the prestige of his crypto empire and the potential fortunes that it would bring. Their relationship, which had seemed innocuous, is now under the spotlight after FTX’s rapid demise, with lawyers for the crypto exchange accusing Bankman-Fried of undermining reorganization efforts with “incessant and disruptive tweeting.” They also raised the suggestion that some FTX assets were ordered to be transferred to the Bahamian government after the bankruptcy filing. For the island nation, the collapse of one of its most visible companies is a blow to a years-long effort to build a digital-currency hub. Interviews with local residents show FTX’s presence was quickly felt in the little over a year since it moved to Nassau. [time-brightcove not-tgx=”true”] “FTX had been the emblem of what many saw as an emerging crypto boom in the Bahamas,” said Amauri Frantz, a trader who resides on New Providence, the island home to Nassau. “None of the investment community here on the ground would have had a reason to doubt FTX’s ability to realize the dream of the Bahamas becoming a crypto hub.” That much was clear seven months ago, when Bankman-Fried and Bahamas Prime Minister Philip Davis broke ground on a site that was meant to be a sprawling compound for 1,000 FTX workers, complete with a hotel and school. It symbolized the island’s growing stature in the crypto world, coming the same week digital-coin enthusiasts, celebrities and politicians descended on Nassau for a glitzy summit. The scene on the ground looks much different these days. The site sits largely empty. The early outlines of a building foundation have been poured. A few cabins are sprinkled about for the construction crew, though no one was there on an afternoon this week. Read More: Crypto Is Crashing. This Time, Blame FTX and Sam Bankman-Fried The Bahamian government has said the turmoil wasn’t preventable under its regulations. Its securities commission on Thursday said it took control of digital assets of FTX Digital Markets—which it said isn’t part of the US bankruptcy—for safekeeping. The regulator on Nov. 12 denied directing the entity to prioritize withdrawals for Bahamian clients. In a statement to Bloomberg News on Friday, Davis said that his government had taken “swift and immediate action” on FTX, and that the nation would continue to court the digital-asset industry. “It was because the Bahamas had in place a robust regulatory framework for digital assets and digital asset businesses, that the regulator was able to take immediate steps in order to protect the interests of clients, creditors, and other stakeholders globally, and particularly those of FTX Digital Markets Ltd.,” the prime minister said. ‘Big Splash’ The Bahamas, home to about 400,000 people, has played a pioneering role in experimenting with e-money—in 2020, it launched the sand dollar, one of the world’s first central bank digital currencies, beating China’s digital renminbi to the market by six months. But FTX’s decision to move its headquarters there in September 2021 was a coup. Bankman-Fried told the crypto publication Blockworks that he was attracted to the country’s friendlier regulation and less-stringent Covid restrictions than Hong Kong, where it had been located. FTX made it clear it planned to be there for the long haul as it started buying up real estate throughout western Nassau. As the company made aggressive claims to office space at Veridian Corporate Centre, locals started getting a sense they were seeing something unusual. “You can bet your bottom dollar everybody sat up and paid attention,” said Nikki Boeuf, president of the Bahamas Real Estate Association and a broker at Berkshire Hathaway HomeServices Bahamas. The company started buying luxury residential properties, too, making “a big splash in a small pond” of the island market, said Boeuf, who wasn’t involved in any of the transactions but has spoken to agents who were. Only some of the property purchases have surfaced publicly, including at least $74.2 million on condos, houses, office space and land in 2022, according to a document reported by The Block. Real estate purchases were called out in a bankruptcy-court filing Thursday by FTX Group’s new chief executive officer, John J. Ray III, who blasted the company’s faulty oversight and misuse of corporate funds. Some of the real estate was recorded in the personal names of employees and FTX advisers, he wrote. Many of the homes were within the confines of the Albany Bahamas club, owned by billionaire British businessman Joe Lewis, singer Justin Timberlake and golfers Tiger Woods and Ernie Els. One of the world’s four casts of Arturo di Modica’s Charging Bull sculpture—made famous from its perch in Lower Manhattan—sits near the resort’s marina and its golf course was designed by Els. Bankman-Fried’s five-bedroom penthouse, which has its own swimming pool, was listed for nearly $40 million prior to FTX’s arrival. In an August interview on Bloomberg’s “The David Rubenstein Show: Peer-to-Peer Conversations,” Bankman-Fried described the Bahamas as “pretty easy to live in,” noting that he’s recognizable in Nassau but also is able to walk down the street and has privacy there. Asked about the “dorm situation” in his penthouse, he said it’s a useful way to socialize and unwind in the evening. “I don’t have enough sort of free time to, like, really put a lot of thought into engineering a social life,” he said. “So it’s—it’s useful if it’s just sort of there passively.” FTX also made efforts to build local roots. The company, in partnership with a local nonprofit, had committed to expanding and revitalizing a community center in Nassau’s Bain & Grants Town, a landlocked district that’s poorer than some of the waterfront areas. The project called for new space for educational programs and food-distribution services, with work expected to be completed by the fall. But little was done besides paying for landscaping on the grounds, a person with knowledge of the matter said. Residents say the government heralded FTX’s arrival. It promoted “the fast-paced expansion and presence of FTX HQ in Nassau as an opportunity for Bahamians,” said Charles Johnson, 44, who owns one of the island’s CrossFit gyms, Da Box. “But many Bahamians couldn’t honestly say that they engaged with the platform in a substantive way,” he said. “It was still mostly a platform for foreign investors.” Groundbreaking, Celebrities Perhaps the peak of excitement came in late April, with the celebrity-packed Crypto Bahamas summit and the ceremony for the new FTX headquarters. At the groundbreaking, Bankman-Fried tweeted a picture of the view of turquoise water and Davis touted the “positive footprints” the company has made throughout the country. Since moving to our shores, @FTX_Official has left positive footprints throughout The Bahamas. Today, they continue to make positive impressions with the groundbreaking of their new headquarters. I look forward to attending the grand opening of the FTX Bahamas headquarters. pic.twitter.com/vWxzMoN9jm — Philip Brave Davis (@HonPhilipEDavis) April 25, 2022 Davis kicked off the Crypto Bahamas conference days later, saying the country is “not only open and ready for business, but moving to the forefront of this most exciting era of digital asset innovation,” according to a news story in the Nassau Guardian. The event, sponsored by FTX and SALT, attracted the likes of Bill Clinton, Tony Blair, Tom Brady and Katy Perry. Tickets reportedly started at $3,000 a head. Franklyn Lightbourne, 52, who operates a tour company and taxi-cab service in Nassau, said within 24 hours after the news of FTX troubles circulated in the local press, he began to book passengers who made their first question to him: “Do you or anyone you’re picking up have an FTX account?” The driver went on to explain that some of the visitors were trying to find ways to get money off the platform through locals who might be able to help or held assets of their own. “It was as if pirates had landed on our shores in hopes to find gold,” he said. —With assistance from Steven Church......»»

Category: topSource: timeNov 21st, 2022

An Ohio real-estate investor who boasted about his home-flipping portfolio on TikTok is projecting a $30,000 loss on one deal — and issued a somber warning to anyone trying to best the housing market right now

Rising interest rates and receding buyers have cooled the market overall, making it especially hard for flippers to land their dream number. Austin Rutherford, real estate investorsAustin Rutherford Austin Rutherford told his 700,000 followers he will likely take a loss on a recent flip in Ohio. Fellow TikToker Jeremy Mathis says he's factoring in 10% price drops to prospective deals in Miami. The market for flips has cooled down significantly due to reduced buyer demand and rising mortgage rates. Flippers are facing the music as the housing market begins to show signs of cooling down. Real estate investor Austin Rutherford, who has over 700,000 followers on TikTok, has talked at length about the opportunities for wealth in real estate investing since the start of the pandemic. But, in a recent video, he breaks down how his latest deal will likely result in a $30,000 loss. "There is a real downside to this business," he told Insider. Rutherford purchased the Hilliard, Ohio home last year for $248,000 and says he put in between $5,000 and $10,000 worth of work. Now, he's receiving offers for only $260,000, which after closing costs and agent fees will likely put him in the red. Flippers across the country — from small-time independent operators to major corporations — are facing difficult market conditions as increasing mortgage rates freeze out buyers. The iBuyer firm OpenDoor has been losing money on homes in pandemic real estate hotspots Austin, Atlanta, and Phoenix. More recently, competitor Redfin announced that it was getting out of the flipping game and was laying off its 13% of its staff.  And then in other instances, some flippers are turning to deep-pocketed investors to bail them out.Flipping returns have also decreased since last year. The typical return on investment in the second quarter was 29%, down from 33% this time last year, according to Attom Data Solutions. Overall, the ROI for house flipping has fallen precipitously from the decade-high 53% in 2016.In Rutherford's original video, many of his followers encouraged him to keep the property as a rental, but he says that's another lesson for a changing market."I'd rather take the loss and move on and go find another deal and make it back rather than try and make some money with a whole bunch of headaches," he told Insider.Flippers see home values sliding A Pickerington, Ohio house that Rutherford predicts will take a loss in this tough market.Courtesy of Austin RutherfordTo also help illustrate the quickly-changing real estate market dynamics, Rutherford pointed to another one of his rehab projects — a four-bedroom house in Pickerington, Ohio where the value has slid in six months. In June, the home was appraised for $355,000, without Rutherford lifting a finger. According to public records reviewed by Insider, the home was purchased as part of a multi-property portfolio sale that closed last December for $1.9 million.Rutherford said that after putting in over $20,000 worth of renovations, including brand new kitchen appliances, he is close to accepting an offer for just $320,000.Another TikTok investing personality, Jeremy Mathis, who invests with his twin brother, is witnessing similar signs of a slowdown in demand on rehabbed properties. Florida-based Mathis purchased a 3-bedroom, 3-bathroom property in Fort Worth, Texas for $340,000 in June and spent $45,000 on renovations, including new floors and kitchen appliances. Mathis and his brother were hoping to get $450,000 for the home based on projections from June. Instead, they listed in October and have subsequently dropped the price about every 10 days, where they've now lowered the ask to $399,000. At this point, Mathis says they just want to get rid of it. It's a much gloomier picture compared to last year, Mathis says, when "people were getting above asking price when the houses were not fixed up." "We're not in that market anymore," he told Insider. Now, in prospective deals, Mathis says he's factoring in a 10% "buffer" with homes, projecting them to lose at least that much in their appraised value as the market continues to slide. Rutherford remains optimistic about real-estate investing overall and says hard times actually provide opportunities for committed investors. "You learn a lesson in every deal, I've got a buddy that lost $100,000 on his first deal and now he's a multimillionaire," he said. Read the original article on Business Insider.....»»

Category: personnelSource: nytNov 20th, 2022

I got my big break as a Lionsgate screenwriter after I moved 2,000 miles from Hollywood. Here"s how I made connections and worked my way up from security guard to my dream career.

Ken Miyamoto taught himself to write scripts before taking an apartment across the street from Sony Pictures so he could get his foot in the door. Ken Miyamoto.Courtesy of Kevin Sparrow Ken Miyamoto was a security guard at Sony, and worked his way up to story analyst for the studio. A self-taught screenwriter, Miyamoto was later offered a development deal at Lionsgate. He was able to continue paid work as screenwriter after a recession, despite living in Wisconsin. This as-told-to essay is based on a conversation with Ken Miyamoto, a screenwriter based in Belleville, Wisconsin. It has been edited for length and clarity.I learned everything about screenwriting inside a Barnes and Noble. I read every screenwriting book that I could — some were good, some were bad — along with the few published scripts that were available.This was the mid-to-late 1990s, before the internet took hold.In 1996, I took one University of Wisconsin screenwriting class, and that was the extent of my screenwriting education. Beyond that, I'm self-taught. I moved to California from Wisconsin with my wife in late 1999 to pursue a career in screenwriting. While she was busy with grad school, I did whatever I could to get onto Hollywood sets. I wanted to understand how movies were made — and the easiest way I could do that at the time was to become a movie extra, so I signed with some background actor agencies.I loved being an extra, even though I was only making $50 a day. I even made it into the final cut of Steven Soderberg's "Traffic." I was a stand-in for one of the FBI agents (and later in the background of the pool scene). I spent 12 hours in a hotel suite with Soderbergh and Benicio Del Toro. Del Toro was in character the whole time, and Soderbergh was completely hands-on — he was the cameraman, cinematographer, and director for these scenes. It was amazing to be in the same room as both of them.The whole time I was working as an extra, I was writing and honing my screenwriting. Then in 2002, my wife and I moved to Culver City. We picked an apartment online and made an appointment to go see it, only to learn upon arrival that it was right across the street from Sony Pictures Studios — on the old MGM lot. The apartment was way overpriced and much smaller than others we looked at, but we signed the lease that day. I just knew that being that close to Sony would be my best opportunity to somehow break into the industry. We moved in soon after, and nearly every day I jogged around the studio and peered through the gates.After months of trying to find a job at Sony, I became frustrated. I walked up to a security guard and asked him how I could get a job there. He gave me a number to the security company's corporate office. I called it, went to the hiring office, and was hired right away. Two weeks later I was a Sony security guard. Security work isn't that glamorous. Most of the guards don't want to be there. But when I was first assigned to the Sony lot, I worked the side gate details, sitting at a post doing nothing. I hated it. However, one day while sitting at my post, an expensive sports car was being revved behind me — I turned around and saw Harrison Ford. He was shooting what would eventually be entitled "Hollywood Homicide" on a nearby stage, and was on a coffee break in between camera setups. I could smell the coffee on his breath — that's how close he was. We exchanged small talk and he smiled that crooked smile and went off to work. It hit me that I'd just met one of my childhood idols — Han Solo. Indiana Jones. Jack Ryan.That wouldn't be my last encounter with Hollywood icons. I talked my way into a promotional position working the VIP gate. Each day, I met and conversed with icons like Arnold Schwarzenegger, Bruce Willis, and Stan Lee, to name just a few. I also welcomed the then-studio head Amy Pascal every morning. I worked my way up from security guard to story analyst at SonyMy new post at the VIP gate allowed me to broaden my reach throughout the studio. I now had my own golf cart to ride around the studio lot. I was given a free membership to the Sony Athletic Club. I had opportunities to meet a lot of studio and production company executives. One day, I was making a studio ID card for an incoming development executive. We had a good rapport. I took a chance and said to him, "Hey, if you need any script readers, I have experience." It turns out he was looking for a new reader. It was kismet. He asked for some sample script coverage (screenplay summaries that executives often rely on to save time reading entire scripts). I sent him some coverage I'd done at a previous internship, and he hired me as a script reader & story analyst for Sony Pictures. That job was my greatest education in screenwriting — reading scripts and writing coverage for them was an outstanding way to learn what worked and what didn't. I became a stay-at-home dad to focus on my writing — and it paid offIn 2005, we had our first son. My wife suggested that I stay home with him to focus on my screenwriting. It was a great opportunity to write and be with my son, but I kept my story analyst job part-time. At this point I knew I needed to write a marquee script — something that was high concept and would catch people's attention. I started to develop concepts that would have the best odds of breaking through. The one I landed on was a script entitled "The Doomsday Order," which made the rounds in Hollywood and got me a manager. I had meetings at Sony, Universal, Warner Brothers, Dreamworks, and Disney, but sadly, it didn't sell. I had major momentum in my writing career though, finally, after years of struggle. Around this time, my family and I visited our hometown in Wisconsin for the holidays. I realized that this was where we should be as a family. I told my wife, and we decided we wanted to leave LA and move back home to Wisconsin. I told my manager — and he said I didn't have to be in LA to write, as long as I could come back for meetings. It wasn't the ideal situation for a screenwriter with some momentum, but we wanted to raise our kids close to family.It was hard for me to leave my Sony job though. The night before I left to drive cross-country from Los Angeles to Wisconsin, I spent one more night on the Sony lot, riding around after-hours on my golf cart.After that, I got in my car, turned on Green Day's "Time of Your Life," drove past the security shack I used to man years prior, waved to the guard, and cried like a baby as I drove away. The stigma of being a stay-at-home dad was difficult at times Once we made the move, I found myself sitting at home in Wisconsin with my baby son, feeling like my dream had slipped away a little. The momentum I had was dying down, and I was far away from Hollywood.I was a proud stay-at-home dad, but it came with a lot of baggage and insecurity. My wife was supporting us with her successful career. I wasn't earning any money towards our daily needs, so the stigma of being a stay-at-home dad was difficult at times. I felt out of place amidst the moms at parks and coffee shops. I used my late nights to work on the next script I would send to my manager, and within a few months, I had another marquee script. It was an action thriller script called "One Shot to Kill." The pitch was basically "Top Gun," with snipers. My manager sent it out to studios and production companies, and the response was great. Hollywood players were talking about my script — they were calling me a rockstar. Then I found out Lionsgate wanted to option the script with some development money. I was so happy. Knowing that I finally had my first offer to do what I had always dreamed of doing for a living — telling cinematic stories — it was an amazing feeling. And it happened after moving 2,000 miles away from Hollywood.Most screenwriters see the trades and read about million-dollar deals for spec scripts. That doesn't happen too often, and it's usually for established writers. My Lionsgate deal wasn't a huge amount of money, but it was worthwhile for sure. The deal fell through — but it opened the door to more paid screenwriting workSadly, the deal expired before the film could go into production. The one-two punch of the economic disaster and the Writers Guild strike hit in 2007 and 2008. It sent shockwaves throughout the industry — the results of which are still felt to this day. Deals were dropped everywhere, and mine was one of them.In 2010, I was approached by a Hollywood producer and executive with Wisconsin connections. He grew up just an hour away from where I was living. I was president of a local screenwriters group, and he had reached out to see if he could help. I took the opportunity to pitch some of my work. He read "Doomsday Order" and "One Shot One Kill" and loved my writing — he wanted to hire me to write a miniseries for him entitled "Blackout." The catch was that they needed it written quickly. I signed a contract and wrote it in two and a half weeks. They loved it. It was the most I ever made as a professional screenwriter at that point — low-to-mid five figures, which was a huge haul for a new screenwriter. Big names were attached to the project — like the late Anne Heche, James Brolin, and Haylie Duff. I even had a chance to fly back to Los Angeles to be on set. It was a dream come true seeing my words come to life.Today, I've found success writing thrillers for Lifetime. They're formulaic and designed for the intended audience and their expectations, but they're damn fun to write. The fans love those movies. And it's actually helping me hone my craft. I'm making more money as a screenwriter than I ever haveI'm learning so much about writing on the fly and making crazy deadlines because the projects at Lifetime can go into production fast. My deals with Lifetime thrillers usually take a few months. They really crank out those movies, so it's cool to see a more quick, streamlined process. The way it works is that I pitch my take on a project, and then it goes through the executive producer, and on to Lifetime for notes and approval. I write the script pretty fast — usually three to four weeks for the first draft, and then a few days of rewrites. It takes only a few months on average for them to go into pre-production, and a little longer for them to actually come out.I don't have a doubt in my mind that I'll eventually make the jump to studio stuff. I have samples to showcase my writing. But I'm loving the regular gigs, the outstanding collaboration, and seeing my words produced as written. Here's what I've learned about succeeding in the industry as a screenwriterDon't put too much stock into getting representation. Focus on writing amazing scripts — stack your deck with three to five outstanding ones. Don't rush into trying to find representation with your first or second scripts. Generally speaking, they're your worst scripts. You haven't honed your craft. You're still learning.Once you have a stack of great scripts, then you should go out and try to find representation. Managers want writers with a good body of work — not just one or two beginner scripts. When you do start marketing to reps, never try to get an agent. Agents don't really come until they see a hot script they can sell. Managers are the go-to.Beyond that, make your own luck. You can market your scripts on your own. Go to IMDBPro and find similar movies. Find out who made them. Don't market to the studios that distribute them — market to the production companies listed. That's the in. Send them simple and short query emails with your logline. I've represented myself for over 10 years. It's possible. I handle contract negotiations and sign contracts on my own — but that's after being in the business for 20 years.Lastly, don't write for free. It's okay to do a draft for a manager here or there. But don't get caught in the industry trap of writing endless drafts for free. Don't be afraid to say that you need to justify the time by getting paid. Too many novice screenwriters fall into that. It's not worth it and often leads nowhere.That first deal with Lionsgate legitimized my dream. Every assignment contract since has offered me the chance to get paid to do what I love. How many people in this world can say that? Plenty, I'm sure — but certainly not the majority. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 17th, 2022

Maui beachfront home listed for $12.8M

Built in 1976 and remodeled in 2003, the four-bed, five-bath home includes a one-bed, one-bath ohana unit above the garage......»»

Category: topSource: bizjournalsNov 15th, 2022

Experts Warn Homebuyers Of Red Flags Beyond Climbing Interest Rates

Experts Warn Homebuyers Of Red Flags Beyond Climbing Interest Rates Authored by Mary Prenon via The Epoch Times (emphasis ours), Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even hundreds of thousands of dollars over asking price. Buyers often waived inspections and picked up some of the sellers’ costs in dire hopes of securing that coveted single-family home. A home for sale is seen in Orlando, Fla., on Dec. 8, 2020. (John Raoux/AP Photo) While the current landscape has changed due to higher interest rates, many parts of the country are still seeing bidding wars, and home prices are not yet experiencing a sharp decline. With inventory still lower than normal, many buyers remain hungry for a piece of the American dream. However, some experts are cautioning would-be homeowners about quickly jumping into the home-buying pool without first doing their homework. “Listing prices are still high, and combined with the higher mortgage interest rates, people are going to be overpaying for their homes,” Andre Stewart, CEO of InvestFar, a real estate marketplace and database firm, told The Epoch Times. “It’s important for them to review their budget and make sure they’re not getting in over their heads.” In the present market, the average homebuyer can expect to pay up to 25 percent more than in 2021. “It’s one thing if you’re buying a home to live in it for a very long time, but most people live there for five to 10 years, and then resell it,” said Stewart. “You want to make sure you’re going to make money on that sale.” Stewart, who is also the author of “The Real Estate Investing Diet,” advises potential buyers about other often-ignored “red flags” of home purchasing. “During the pandemic, a lot of people were buying properties sight unseen, and they were skipping inspections,” Stewart recalled. “Getting a home inspection is extremely important—even with brand-new housing developments.” A six-bedroom, three-bath, single-family home in Tampa, Fla., listed for $600,000. (Courtesy of InvestFar, Los Angeles, Calif.) Because new construction costs have skyrocketed, Stewart warns that some new developments may not be completed as expected. “There have been situations where people have purchased a home thinking the garage door would be arriving after they moved in, but it was never finished,” he said. “It’s worth the money to get the inspection so homeowners can have a full punch list of items to be completed before they close on the property.” Even luxury homes can harbor hidden problems, he added, such as mold. Mark Aakjar, owner of Mark’s Inspections, has been servicing the New York metropolitan area for the past 14 years. “Mold is now what asbestos was 15 years ago,” he told The Epoch Times. “Mold can be anywhere—it’s just a matter of what type and how much.  Some people may not have any reaction to it, while others may suffer from allergies or severe respiratory issues.” Aakjar noted that, in some cases, the mold isn’t visible. “If I’m doing an inspection on a Manhattan apartment at the top of a 30-story building, I may not actually see evidence of mold, but an air test will indicate that mold is present. Then we have to start looking for it.” Concerning new construction, Aakjar cited other common problems, such as undersized boilers or air-conditioning units, improper insulation, poor-quality windows, and foundation cracks. Michael Gifford is the CEO and Co-Founder of San Diego-based Splitero, which offers existing homeowners options to access home equity without debt or additional monthly payments. The firm offers homeowners a lump-sum of cash in exchange for a share of their home’s appreciation. As a real estate finance expert, Gifford also cautions potential homeowners on due diligence before making what will likely be the largest purchase of their lifetime. “I know there’s still an urgency for people to want to jump into the market, but they need to make sure they’re putting themselves in a proper position for the future,” Gifford told The Epoch Times. “And if they do decide to proceed, they always want to have a home inspection so they can understand exactly what they’re buying.” A home in New York with a misaligned gutter. (Courtesy of Mark’s Inspections, New York) Gifford noted potential homeowners—especially first-time homebuyers—should educate themselves about the home’s electrical, plumbing, heating, and air-conditioning systems, as well as things like roof age, condition of the basement, wells, septic tank, and the home’s foundation. While roofing and mold remediation can be costly, Aakjar noted one often overlooked big-ticket item is windows. “Sometimes builders will install rubber gaskets instead of metal ones, which after time can cause windows to constantly look foggy,” he explained. “Windows are a cosmetic, but if you have 25 windows that need to be replaced, you’re looking at a major expense.” Read more here... Tyler Durden Tue, 10/04/2022 - 14:22.....»»

Category: dealsSource: nytOct 4th, 2022

Now Is The Time To Start Building Your Dream Portfolio

Don't just sit on the sidelines until the market turns higher. Kevin Matras will help you find a strategy right now to prepare for the next bull run. In August, the bear market in the Nasdaq and the Russell 2000 finally come to an end. And a new bull market began.It doesn’t feel like that lately, given the recent volatility.But those are the stats.Just like a -20% decline from the highest close marks the end of a bull market and the beginning of a bear market, a 20% increase from the lowest close marks the end of a bear market and the beginning of a bull market.From their lowest close in June, the Nasdaq rallied 23.3% while the Russell rallied 22.5%.The S&P just missed exiting their bear market. But they did gain an impressive 17.4% at their best, since their June low close was made.The Dow never entered a bear market, just a correction. But they too saw an impressive rebound gaining 14.3% since their low close was put in.But then profit taking set in for all of the indexes, and those gains were trimmed by more than half.Nonetheless, the worst looks like it’s behind us.After 2 quarters in a row of negative GDP (-1.6% in Q1 and -0.6% in Q2), Q3 is estimated to grow by 1.3%. (It’s no longer a recession once the economy starts growing again.)And peak inflation looks to be behind us as well.Inflation still remains near 40-year highs.But inflation has been ticking down for the last few months.Headline inflation, according to the Consumer Price Index (CPI), is at 8.3% y/y, with core inflation (less food & energy) at 6.3%. That’s down from its peak of 9.1% and 6.5% respectively.While that dip is not a lot, and it’s a far cry from the Fed’s goal of getting it back down to 2%, the mere fact that it’s no longer making new highs, and instead is ticking lower, is a step in the right direction.That also means the Fed may not have to raise rates as much as people had previously feared.Rates are indeed still going to go up. And they should.High inflation is far worse for the economy than higher interest rates.And when the Fed meets next week (September 20-21), there’s a near certainty that they will raise rates by at least another 75 basis points.With the midpoint for the Fed Funds rate currently at 2.38%, another 75 bps would put the midpoint at 3.13%.And with the Fed previously saying they see the target rate getting to 3-3.5% by year’s end, and other members recently saying they see it getting above 4% by early next year, they still have more to go.But inflation expectations have simultaneously been going down. And with each interest rate hike, inflation expectations, and inflation itself, should continue to decline as well.A few months ago, many were expecting inflation to soar above 10% or more. Now it’s closer to 8%, with expectations for it falling to 5-6% next year, with the core rate falling even lower.Fears that interest rates would need to climb above the inflation rate had people in a panic, especially when inflation was expected to eclipse 10%.But with inflation expected to moderate to the 5-6% range, interest rate expectations have moderated as well. Both of which are bullish.More . . .------------------------------------------------------------------------------------------------------Get Your Free Copy of Finding #1 Stocks – A $49.95 ValueOne single idea changed Kevin Matras' life as an investor, enabling him to tap into the greatest force driving stock prices. In Finding #1 Stocks, Kevin reveals his top stock-picking secrets and strategies based on this powerful idea. Now you can claim a free copy of the 300-page hardcover book.In 2021 - while the market climbed +28.8% - these strategies actually produced gains up to +48.2%, +67.6%, and even +95.3%.¹You can take full advantage of them without attending a single class or seminar, in a lot less time than you think. Opportunity ends Saturday, September 17.Get your free book now >>------------------------------------------------------------------------------------------------------Be Greedy When Others Are Fearful In June, as stocks were hitting their worst levels, that’s when the pundits were at their loudest, telling everyone to sell their stocks. Right at the bottom.Had you sold, you’d be down at least -23.6% (that was when the S&P put in its lowest close on June 16th.) I say ‘at least’ because many stocks fell far more than that.And you also would’ve missed out on the double-digit gains that we’ve seen since then.It’s a classic mistake too many traders and investors make.And now with the recent pullback, those same people who said to sell at the lows, are back again and saying the same thing.Don’t listen.Stocks valuations are down.In fact, the P/E ratio for the S&P is trading below its five-year average.And that makes stocks a bargain.Of course, if earnings drift lower, valuations will tick higher. But there’s plenty of room for stocks to remain relatively cheap.And the earnings outlook is still forecasting growth.That should come as no surprise as consumer spending is strong, business investment is strong, corporate earnings are strong, and the jobs market is exceptionally strong (unemployment is at 50-year lows).Add in another trillion dollars in stimulus between the CHIPS Act and the Inflation Reduction Act, and that should extend the growth outlook even further.Will History Repeat Itself? For some, it’s probably hard to get too excited about the market right now.Stocks are still down from their highs and for the year.But after such a dismal start in the first half of the year, the second half is already looking markedly better.In fact, I’m reminded of the comparison that was made between the first half of this year, and the first half of 1970.This year’s first half performance (the S&P was down nearly -21%), was strikingly similar to that of 1970 (also down -21%). And in both periods, high inflation was an issue.But in the second half of 1970, the S&P was up 27%.Of course, that doesn’t mean that’s how it’ll go for the back half of this year. But it doesn’t mean it won’t either.And, so far, it looks like we could very well be heading in that direction.Foolproof Way Of Getting In At The Right Time  Remember, a large portion of a new bull market comes at the very beginning of the move.So now is the time to get in.While we’ve bounced nicely off the lows so far, we have not advanced so much to feel like you missed it.But that could change quickly.Of course, not every stock you pick will go straight up.So decide to cut your losses short.For me, I typically get rid of a stock once it’s down -10%.Why ten percent? Because if I lose -10% on a trade, I only need to make a little bit more than 10% (11.1%) on my next trade to get that money back.But if you lost -20% on a trade, you’ll need a 25% gain to get that money back. At -30%, you’ll need to make 43%. And if you lose -50% on a trade, you’ll need a 100% gain on your next trade just to break even.So, if a stock goes against you, get out. There are too many great stocks performing spectacularly to waste your time on laggards.And savvy investors who diligently stay engaged in the market, and scan for new stocks, even during tougher times, will inevitably find themselves in some spectacular picks with picture perfect entries.In hindsight, we now know the market bottomed on June 16th. That was not obvious one day later on June 17th. Nor was that obvious a week later. But as time went by and the market rallied off its lows, it became more and more obvious that we just saw the bottom, at least for the short-term.And while the S&P, for example, is now ‘only’ up 7.62% from their June 16th low close to now (9/14), there are 3,102 stocks that are currently up by 10% or more during that same time; 1,685 stocks up by 20% or more; and 562 stocks up by 50% or more.The point is, now is the time to start building your dream portfolio.Because we will likely see a whole new crop of stocks up just as much or more in the next few months.And note, even when the market was falling in the first half of the year, there were hundreds of stocks up 10%, 20%, even 50% or more.Which means it’s never a bad time to pick up good (and great) stocks.Increasing Your Odds Of Success Of course, picking winning stocks does require a degree of skill.If you keep looking at the wrong things to pick stocks with, you’ll rarely if ever get into the right ones.But picking winning stocks is easier than you think.For example, did you know that stocks with a Zacks Rank #1 Strong Buy have beaten the market in 28 of the last 34 years with an average annual return of 25% per year? That's more than 2 x the S&P with an annual win ratio of more than 82%.That includes 3 bear markets and 4 recessions.And did you know that stocks in the top 50% of Zacks Ranked Industries outperform those in the bottom 50% by a factor of 2 to 1? There's a reason why they say that half of a stock's price movement can be attributed to the group that it's in. Because it's true!Those two things will give any investor a huge probability of success and put you well on your way to beating the market.But you’re not there yet, as those two items alone will only narrow down a field of 10,000 stocks to the top 100 or so. Way too many to trade at once.So, the next step is to get that list down to the best 5-10 stocks that you can buy.Proven Profitable Strategies  Picking the best stocks is a lot easier when there’s a proven, profitable method to do it.And by concentrating on what has proven to work in the past, you’ll have a better idea as to what your probability of success will be now and in the future.Of course, this won't preclude you from ever having another losing trade. But if your stock picking strategy picks winners more often than losers, you can feel confident that your next trade will have a high probability of success.Here are a few of my favorite strategies that have regularly crushed the market year after year.New Highs: Studies have shown that stocks making new highs have a tendency of making even higher highs. And this strategy proves it. The alignment of positive price action and strong fundamentals creates all the necessary conditions to see these stocks soar to even greater heights. Over the last 22 years (2000 through 2021), using a 1-week rebalance, the average annual return has been 43.2% vs. the S&P’s 7.5%, which is 5.7 x the market.Small-Cap Growth: Small-caps have historically outperformed the market time and time again. Often these are newer companies in the early part of their growth cycle, which is when they grow the fastest. This strategy combines the aggressive growth of small-caps with our special blend of growth and valuation metrics for explosive returns. Over the last 22 years (2000 through 2021), using a 1-week rebalance, the average annual return has been 50.4%, beating the market by 6.7 x the returns.Filtered Zacks Rank 5: This strategy leverages the Zacks Rank #1 Strong Buys, and adds two time-tested filters to narrow the list of stocks down to five high probability picks each week. Over the last 22 years (2000 through 2021), using a 1-week rebalance, the average annual return has been 51.2%, which is 6.8 x the market.The best part about these strategies (aside from the returns) is that all of the testing and hard work has already been done. There’s no guesswork involved. Just point and click and start getting into better stocks on your very next trade.Where To Start  There’s a simple way to add a big performance advantage for your stock-picking success. It's called the Zacks Method for Trading: Home Study Course.With this fun, interactive online program, you can master the Zacks Rank in your own home and at your own pace. You don’t have to attend a single class or seminar.Zacks Method for Trading covers the investment ideas I just shared and guides you to better trading step by step, plus so much more.You'll quickly see how to get the most out of the proven system that has more than doubled the market for over three decades. Discover what kind of trader you are, how to find stocks with the highest probability of success, and how to trade them so you can consistently beat the market no matter where stock prices are headed.You’ll get the formulas behind our top-performing strategies suited for a variety of different trading styles.The best of these strategies produced gains up to +48.2%, +67.6% and even +95.3% in 2021.¹The course will also help you create and test your own stock-picking strategies.Today is the perfect time to get in. I'm giving participants free hardbound copies of my book, Finding #1 Stocks, a $49.95 value. Its 300 pages unfold virtually every trading secret I’ve learned over the last 25 years to beat the market.Please note: Copies of the book are limited and your opportunity to get one free ends Saturday, September 17, unless we run out of books first. If you're interested, I encourage you to check this out now.Find out more about Zacks Method for Trading: Home Study Course >>Thanks and good trading,KevinZacks Executive VP Kevin Matras is responsible for all of our trading and investing services. He developed many of our most powerful market-beating strategies and directs the Zacks Method for Trading: Home Study Course.¹ The results listed above are not (or may not be) representative of the performance of all strategies developed by Zacks Investment Research.  Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 16th, 2022

I used Boatsetter to rent a stranger"s boat for 2 hours and it was the best $350 I"ve spent in a while — but I probably won"t do it again alone

Boatsetter, the "Airbnb for boats" raised $38 million in funding this summer. Here's what it was like booking a 2-hour sailing lesson through the app. Insider / Hannah Towey The peer-to-peer boat rental app Boatsetter raised $38 million in funding this summer. I used the app to book a $350 two-hour sailing lesson in Sheepshead Bay, Brooklyn.  It was a great way to escape the city heat and get out on the water — here's what it was like.  Alexander Dunayski is the owner of "the Moose," a 23-foot sailboat moored off of Sheepshead Bay, Brooklyn. Here, he goes by Captain Alex. One Thursday in September, I booked a 2-hour sailing lesson onboard the Moose, his 1966 Pearson Ensign Daysailer, through Boatsetter. The watercraft rental platform has raised $70 million in funding in hopes of becoming the "Airbnb of boats" and currently has 50,000 listings in 700 locations around the world. Amid what Axios described as the "summer of sharing," you can now rent a stranger's home, pool, car, private gym and yes, even their sailboat. A decade ago, this level of intimacy among strangers would have been unthinkable, if not downright discouraged. Now, with a user-friendly app for every exchange, making connections like my excursion with Captain Alex is more accessible than ever.Thanks to things like insurance coverage, reviews, and in-app messaging, the start-up has successfully convinced boat owners and landlubbers alike to trust strangers on board multi-million dollar vessels in the middle of the sea.Hannah Towey/InsiderOn my first time using the app, I was able to easily navigate the different experiences offered in New York, from fishing and sailing to sunset cruises. Then, I requested a date and time for my lesson, which was confirmed the same day. Finding a listing within my budget was the hardest part of the whole process. The advertised hourly rate was far less than the final charge at check-out as most listings had a two to three hour minimum, plus a captain fee. The Moose was the least expensive listing in my area — in total, I was charged a $150 boat fee for two hours, a $150 captain fee, and a $50 service fee. Once in the far reaches of New York City, I met Alex at the address listed in my trip itinerary and messaged him through the app upon my arrival. Our voyage then began at Miramar Yacht Club, founded in 1944 by a group of Jewish sailors who were barred from joining the local yacht clubs at the time. The organization still advertises itself today as "a haven for sailors of every ethnicity and race."Boatsetter"I call this the Brooklyn riviera," Captain Alex said as I steered us between Rockaway and Manhattan Beach, kicking off my tour of the South Brooklyn coastline that ended at Coney Island. Once Alex discovered I already knew the basics of sailing, he let me take over as skipper. Along the way, I learned how to do a "heave to" maneuver and how to better navigate switching wind patterns.Despite his expertise and passion for sailing, Alex didn't grow up around the sport. In fact, he didn't step foot on a sailboat until he was 40 years old at the behest of a friend. "Once I stepped on board I was hooked," he said. "I don't know, maybe I was a pirate or something in a past life."Insider / Hannah ToweyBefore a serious back injury, Alex said he enjoyed jet skiing and more physically intensive water sports. Now, he takes out the Moose up to twice a day if the wind is good and the sun is shining. He loves to teach first-time sailors but it's tough to get students, he said. Most New Yorkers prefer sunset booze cruises to learning how to sail an old boat — which is why he tries to make the 2-hour lesson more fun than stressful.That's why there's an inflatable swan floating off the bow, which Alex called a Goose (because it rhymes with Moose). "Remember we have company in the back," he told me as I attempted to tack out of the harbor, docking 20 points from my score as the Goose bumps off the side of a mooring.Then there's the Nutella Kinder bars packed in a cooler, plus complementary photos Alex takes along the way — his "real" job, as he calls it, is a commercial real estate videographer. Hannah Towey/InsiderThe 2-hour lesson was $350, a steep price for one person — but more affordable for three or four, he points out, which is more common than our private weekday lesson. Boatsetter takes a 10% cut, according to his receipts. Captain Alex doesn't get enough bookings through the app to make a real living, but that's the dream. He's taken out tourists from Australia and local children whose mothers were desperate to get them away from screens. "It gives an average boat owner and average guy a way to make an extra living doing maybe what they love," he said. "A guy like me, I wouldn't be able to get clients just like that."On the user end, the voyage was a frictionless, convenient way to escape the New York City heat and get out on the water. Boatsetter is a prime example of how technology can facilitate memorable, in-person experiences. I'll take that over sailing in the metaverse any day. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 13th, 2022

Sailing with a stranger: I used the app Boatsetter to rent a captained boat in Brooklyn for two hours — here"s what it was like

Boatsetter, the "Airbnb for boats" raised $38 million in funding this summer. Here's what it was like booking a 2-hour sailing lesson through the app. Insider / Hannah Towey The peer-to-peer boat rental app Boatsetter raised $38 million in funding this summer. I used the app to book a $350 two-hour sailing lesson in Sheepshead Bay, Brooklyn.  It was a great way to escape the city heat and get out on the water — here's what it was like.  Alexander Dunaysti is the owner of "the Moose," a 23-foot sailboat moored off of Sheepshead Bay, Brooklyn. Here, he goes by Captain Alex. Captain Alex has a Russian accent not because his family is from Russia, but because he grew up in Brighton Beach, a neighborhood in Brooklyn also known as "Little Odessa." His family moved from Israel to New York when he was 13 years old. "This too shall pass" is written in Hebrew on his right forearm, a tattoo his daughter gave him in their living room. "Both the good and the bad," he told me, looking out toward the bay.One Thursday in September, I booked a 2-hour sailing lesson onboard the Moose, a 1966 Pearson Ensign Daysailer, through Boatsetter. The watercraft rental platform has raised $70 million in funding in hopes of becoming the "Airbnb of boats" and currently has 50,000 listings in 700 locations around the world. Amid what Axios described as the "summer of sharing," you can now rent a stranger's home, pool, car, private gym and yes, even their sailboat. A decade ago, this level of intimacy among strangers would have been unthinkable, if not downright discouraged. Now, with a user-friendly app for every exchange, making connections like my excursion with Captain Alex is more accessible than ever.Thanks to things like insurance coverage, reviews, and in-app messaging, the start-up has successfully convinced boat owners and landlubbers alike to trust strangers on board multi-million dollar vessels in the middle of the sea.Hannah Towey/InsiderOn my first time using the app, I was able to easily navigate the different experiences offered in New York, from fishing and sailing to sunset cruises. Then, I requested a date and time for my lesson, which was confirmed the same day. Finding a listing within my budget was the hardest part of the whole process. The advertised hourly rate was far less than the final charge at check-out as most listings had a two to three hour minimum, plus a captain fee. The Moose was the least expensive listing in my area — in total, I was charged a $150 boat fee for two hours, a $150 captain fee, and a $50 service fee. Once in the far reaches of New York City, I met Alex at the address listed in my trip itinerary and messaged him through the app upon my arrival. Our voyage then began at Miramar Yacht Club, founded in 1932 by a group of Jewish sailors who were barred from joining the local yacht clubs at the time. The organization still advertises itself today as "a haven for sailors of every ethnicity and race."Boatsetter"I call this the Brooklyn riviera," Captain Alex said as I steered us between Rockaway and Manhattan Beach, kicking off my tour of the South Brooklyn coastline that ended at Coney Island. Once Alex discovered I already knew the basics of sailing, he let me take over as skipper. Along the way, I learned how to do a "heave to" maneuver and how to better navigate switching wind patterns.Despite his expertise and passion for sailing, Alex didn't grow up around the sport. In fact, he didn't step foot on a sailboat until he was 40 years old at the behest of a friend. "Once I stepped on board I was hooked," he said. "I don't know, maybe I was a pirate or something in a past life."Insider / Hannah ToweyBefore a serious back injury, Alex said he enjoyed jet skiing and more physically intensive water sports. Now, he takes out the Moose up to twice a day if the wind is good and the sun is shining. He loves to teach first-time sailors but it's tough to get students, he said. Most New Yorkers prefer sunset booze cruises to learning how to sail an old boat — which is why he tries to make the 2-hour lesson more fun than stressful.That's why there's an inflatable swan floating off the bow, which Alex called a Goose (because it rhymes with Moose). "Remember we have company in the back," he told me as I attempted to tack out of the harbor, docking 20 points from my score as the Goose bumps off the side of a mooring.Then there's the Nutella Kinder bars packed in a cooler, plus complementary photos Alex takes along the way — his "real" job, as he calls it, is a commercial real estate videographer. Hannah Towey/InsiderThe 2-hour lesson was $350, a steep price for one person — but more affordable for three or four, he points out, which is more common than our private weekday lesson. Boatsetter takes a 10% cut, according to his receipts. Captain Alex doesn't get enough bookings through the app to make a real living, but that's the dream. He's taken out tourists from Australia and local children whose mothers were desperate to get them away from screens. "It gives an average boat owner and average guy a way to make an extra living doing maybe what they love," he said. "A guy like me, I wouldn't be able to get clients just like that."On the user end, the voyage was a frictionless, convenient way to escape the New York City heat and get out on the water. Boatsetter is a prime example of how technology can facilitate memorable, in-person experiences. I'll take that over sailing in the metaverse any day. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 12th, 2022

What we know about Senate candidate Dr. Oz"s real estate portfolio that"s worth millions

The daytime television star has at least 12 residential properties around the globe, as well as several investment properties. Dr. Mehmet Oz.AP Photo/Matt Rourke, File Dr. Mehmet Oz recently said, "Legitimately, I own two houses." That includes a mansion in New Jersey and a farmhouse in Pennsylvania. But the Republican senate candidate owns at least eight other properties, campaign filings show. Dr. Mehmet Oz's efforts to wage a populist campaign against inflation have been complicated by the fact that his years on television made him a very wealthy man. In addition to a mansion in northern New Jersey, the celebrity surgeon by his own admission has another home in Pennsylvania, where he is now campaigning as a Republican for the US Senate."Legitimately, I own two houses," Oz told a Democratic operative who questioned him recently at an event. However, according to his campaign, Oz is currently residing with his in-laws in the Philadelphia suburbs as he awaits yet-unseen renovations on his Pennsylvania property.But as The Daily Beast previously reported, in addition to those two houses in the mid-Atlantic, the daytime television star has at least ten other residential properties, from a cattle farm in Florida to homes in Turkey, as well as several commercial investment properties across the country.Insider reviewed Oz's financial disclosure form to break down the number of properties (both commercial and otherwise) that he and his wife own.A multi-million dollar mansion in New JerseyOz and his wife resided in this six-bedroom, eight-bathroom Cliffside, New Jersey, mansion for the last 20 years. The couple built the house together, which is jointly owned among them. In 2020, People Magazine featured a glossy spread of the extravagant home, full of posed photos and fun facts about the 9,000-square foot residence. "We realized we needed a place where we could build what we wanted," Oz told the outlet. The couple ultimately chose a plot of land that offers them an unmatched view overlooking the Manhattan skyline. —John Fetterman (@JohnFetterman) August 17, 2022  The New Jersey mansion is almost certainly Oz's most well-known property, thanks to his Senate opponent John Fetterman's relentless trolling. Fetterman in July accused Oz of filming a campaign video from the home."Pro tip: Don't film an ad for your Pennsylvania Senate campaign from your mansion in New Jersey," Fetterman said in a statement.According to Oz's financial disclosure, the property is valued between $1,000,000 and $5,000,000. Oz's wife also owns an equally-valued pool house right next door to the mansion, according to financial records. An unlisted New Jersey condoOz and his wife also own a condo in New Jersey, The Daily Beast reported last month, though the couple opted not to include the Fairview, New Jersey, building on Oz's candidate disclosure forms. Candidates are not legally required to report real estate holdings that don't bring in income, but Oz did include several other non-revenue producing properties he owns on his disclosure.It wasn't immediately clear why Oz chose not to mention this second New Jersey property. A spokesperson for Oz did not immediately respond to Insider's request for comment on the apparent unlisted property.A 7,000-square-foot 'country home' in PennsylvaniaThe Philadelphia Inquirer reported that this home earns him a $50,000 annual tax break. The outlet added that Oz is not yet living in the house as he waits for renovations to be completed during his run for the state's open Senate seat. "I inherited it," Oz told the newspaper in early August. "And I intend to preserve that land and not do anything that would hurt it."His Pennsylvania home, like the New Jersey mansion, is also valued between $1,000,001 - $5,000,000, according to financial records.—John Fetterman (@JohnFetterman) August 17, 2022 A recently-purchased cattle farm in Florida—John Fetterman (@JohnFetterman) August 17, 2022Oz purchased the Okeechobee, Florida, cattle farm in December 2021. The cattle on the farm are worth up to $500,000, The New York Times reported. The property, including the cattle, is valued between $1,000,001 - $5,000,000.2 homes in Sariyer, Turkey Oz owns two homes in Sariyer, Turkey, according to his financial disclosure. Both of these personal, residential properties are valued between $250,001 - $500,000.  Oz, who is of Turkish descent, has said he will renounce his Turkish citizenship if elected in November.Republican US Senate candidate Mehmet Oz speaks at a rally in support of his campaign at the Westmoreland County Fairgrounds on May 6, 2022 in Greensburg, Pennsylvania.Jeff Swensen/Getty ImagesIn addition to his six personal residences, Oz and his wife also own multiple investment properties around the globe, including:Another multi-million dollar mansion in Palm Beach, Florida—John Fetterman (@JohnFetterman) August 17, 2022 Oz bought an $18 million Palm Beach mansion in 2018 that boasts 11 bedrooms, and more than 12,000 square feet. The beachfront property includes a spacious yard and private beach access overlooking the Atlantic Ocean, according to a columnist with the Palm Beach Post.The residence is now valued between $5,000,001 - $25,000,000.After buying the property, which is named "Louwana," Oz made the home available for per-monthly rent at $90,000, according to The Post. But a since-removed February 2022 Realtor.com listing reviewed by The Miami Herald had a monthly rental price of $275,000 listed.Oz sees an annual income from the mansion of $1,000,001 - $5,000,000, more than any of his other properties, according to his financial disclosure.The Herald also reported this week that the Palm Beach County commissioners on May 3 approved a massive tax exemption for Oz's historic Palm Beach home that could save the doctor more than half a million dollars in the next decade.4 commercial real estate properties throughout FloridaThe former host of the "Dr. Oz Show" owns four commercial investment properties in Florida — at least three of which appear to be Marriott hotels. A spokesperson for Oz did not immediately respond to Insider's request for confirmation. The Courtyard Clearwater Beach Marina and the Aloft Miami Aventura are each valued between $100,001 - $250,000 while the AC Hotel Miami Aventura is valued between $15,001 - $50,000, per financial documents.A fourth commercial investment property in Clearwater appeared on Google Maps to be an apartment-style building. Financial disclosures said the investment was valued between $100,001 - $250,000. All of the properties are jointly owned. 2 condos in ManhattanA pair of Upper East Side condominiums once belonged to Mustafa Oz, Mehmet Oz's father, but the residences are now the center of a family inheritance conflict between Mehmet Oz and his sisters, Insider's Laura Italiano reported. Nazlim Oz, Dr. Oz's sister that lives in Istanbul, claims in court documents that the budding politician has deprived her of her share of the earnings made from the condos: $15,000 a month for over three years.Mehmet Oz and his other sister, Seval, who lives in California counter-argue that Nazlim Oz forged documents and stole from their father. They also allege that Nazlim Oz never received $15,000 from the condos even when their father was alive and owned the properties.Both residences are valued between $500,001 - $1,000,000. 4 more commercial real estate properties across New EnglandDr. Oz jointly owns two commercial real estate investments in Portland, Maine valued between $1,001 - $15,000 — The AC Hotel by Marriott Portland Downtown/Waterfront and a condominium.He reported earning $427,119.00 from the hotel — and $113,955.00 from the condos.He is also the sole owner of a commercial investment property in Lebanon, New Hampshire, worth between $100,001 - $250,000.The fourth property appears on the financial disclosure document as an entire street — Tremont St. in Boston. Insider was unable to identify the property.2 more commercial properties in TurkeyIn addition to his Turkish homes, Oz can also lay claim to two additional investment properties in the country. He owns one property in Datca, Turkey, according to his financial disclosure, and a second in Konya, near where his father was from.The Datca property is valued between $1,001 - $15,000, while the Konya building was listed as "unascertainable" due to its being leased to the Ministry of Education as a student dorm.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 1st, 2022

Can You Put an Offer on a Home Under Agreement?

When you start your search for a home it is possible to miss a property that has been listed for sale. Maybe you were busy and weren’t checking your favorite real estate sites? Whatever the reason you might find that your dream home has gone under contract. Does that mean that all hope is lost… The post Can You Put an Offer on a Home Under Agreement? appeared first on RISMedia......»»

Category: realestateSource: rismediaAug 29th, 2022

How To Build Back Your Portfolio In A Bear Market

With valuations at two-year lows and a rebound somewhere on the horizon; now is the time to put together your "Dream Portfolio". Kevin Matras will put the probability of success in your favor. Last month, the S&P ended their worst first half in more than 50 years, falling by nearly -21%, making it the worst first half performance since 1970.That time was also a period of high inflation like we’re experiencing now.Interestingly, the second half of that year saw the S&P up 27%.Of course, that doesn’t mean that’s how it will go for the back half of 2022. But it doesn’t mean it won’t either.Either way, with inflation running hot (41-year high), and the Fed behind the curve in trying to mitigate it, fears of a hard recession have grown.In fact, when stocks were hitting their lows last month, it appeared the market was indeed pricing in a worst-case scenario (hard recession vs. a soft or shallow one). Or at least that’s what it looked like, until the market rallied off its lows, and has held ever since.But what if the worst-case scenario doesn’t unfold?In that case, the economy and stocks could soar. And the pullback we’ve seen could be presenting an enormous opportunity.With the strongest labor market in decades (unemployment is near a 50-year low, with literally millions more jobs available than there are unemployed people to fill them), it’s hard to get to a worst-case scenario.Moreover, the Fed is forecasting full-year GDP to come in at 1.7% this year, which means a strong second half rebound.And St. Louis Fed President, James Bullard, in a recent interview, said he sees a “pretty good second half,” driven by “strong consumption this year.”So, the Fed is looking for growth. A far cry from the worst-case scenario that the market has been pricing in.Nonetheless, at the moment, we are in a bear market.So now what?Taking Stock Of The Current Bear Market  The average bear market decline for the S&P (going back 100+ years), is -38%. With the S&P down by nearly -24% at its worst last month, we got more than 62% of the way there.But it should be known that over the last 13 bear markets during that time, there’s been a fair share (5 of them) that were down ‘only’ in the mid-25ish percent range (-21.5% to -29.7%).It should also be known that the faster a bear market begins, the shallower it tends to be.Regardless, no bear market is fun while it’s happening.But it’s worth noting (going back to the 1950’s), that the median returns for the market once a bear market has begun is nearly 3% one month later, more than 5% three months later, and more than 23% a year later.And the rallies that follow after a bear market has ended are even bigger.Now Is The Time To Start Building Your Dream Portfolio  The pullback in the market has sent valuations down to their lowest levels in more than two years.And that makes now a perfect time to start nibbling at your favorite stocks and their discount bargain prices.Some may go lower. And some may not. But they are likely much lower now than where they were just a few months ago, or even years ago. And much closer to the bottom (if they haven’t already hit it).That’s true for your favorite stocks, as well as plenty of new stocks that you probably haven’t even heard of yet.This pullback will usher in lots of new and exciting opportunities in the inevitable bull market that follows.It always does.So, now is the time to start putting your list of dream stocks together. And staying engaged so you can discover what new stocks will lead the market when it goes back up.The big gains that follow a bear market can be quite spectacular.But since a large part of any bull market recovery typically comes at the very beginning, it’s imperative that you stay in the market.The trick is to get into the right stocks.There’s nothing wrong with raising cash by getting out of your laggards and poorest performers – stocks you know you should have gotten out of long before this pullback even happened. Or getting rid of those stocks that will have an uphill battle recovering even when this is over.But then make sure to replace them with the strongest stocks that will be the new market leaders.The point is, you want to be building your dream portfolio now, near the bottom.With over 1,440 stocks down more than -50% YTD, and over 500 stocks down more than -70%, there’s tons of bargains out there, and an opportunity to pick up some great names at prices you could only have wished for a few short months, or even years ago.But you need to be selective.And it’s more important than ever to make sure you’re doing everything you can to get the most out of your trades. Because there will be distinct winners and losers as we move forward.So, before you make your next trade, please read this first to learn how to put the probabilities of success in your favor.Knowledge Is Power  We’ve all heard the old adage; knowledge is power.It’s a great saying because it’s true.And that saying couldn’t be truer than when it comes to investing.Take a look at your last big loser for example (which probably wasn’t too long ago). After analyzing what went wrong, you soon discover some piece of information that ‘had you known beforehand, you never would have gotten into it in the first place.’I’m not talking about things that are unknowable, like inside information or surprise announcements that can catch even the most professional of professionals off guard.I’m talking about things that you could have known about or SHOULD have known about before you got in.Did You Know?... • Did you know that roughly half of a stock's price movement can be attributed to the group that it’s in?• Did you also know that oftentimes a mediocre stock in a top performing group will outperform a ‘great’ stock in a poor performing group?• And did you know that the top 50% of Zacks Ranked Industries outperforms the bottom 50% by a factor of more than 2 to 1?• And did you also know that the top 10% of industries outperformed the most?More . . .------------------------------------------------------------------------------------------------------Saturday Deadline: Claim your Free Copy of Finding #1 StocksOne single idea changed Kevin Matras’ life as an investor, enabling him to tap into the greatest force driving stock prices. In Finding #1 Stocks, Kevin reveals his top stock-picking secrets and strategies based on this powerful concept.In 2021 - while the market climbed +28.8% - these strategies actually produced gains up to +48.2%, +67.6%, and even +95.3%.¹You can take full advantage of them without attending a single class or seminar, in a lot less time than you think. Opportunity ends midnight Saturday, July 16.Get your free book now >>------------------------------------------------------------------------------------------------------Was your last loser in one of the top industries or in one of the bottom industries?If it was in one of the bottom industries, you should have known to not take a chance on something with a reduced probability of success.That’s what is meant by ‘knowledge is power’. Knowable things that you need to know.That’s not to say that stocks in crummy industries won’t go up -- they do. And that’s not to say that stocks in good industries won’t go down -- because they do too.But more stocks go up in the top industries, and more stocks go down in the bottom industries.In times like this, you need to put the probabilities of success in your favor.And since there are over 10,000 stocks out there to pick and choose from, why settle for one with a reduced chance of making any money?Did You Know?...• Did you know that stocks with ‘just’ double-digit growth rates typically outperform stocks with triple-digit growth rates?• Did you also know that stocks with crazy high growth rates test nearly as poorly as those with the lowest growth rates? Did your last loser have a spectacular growth rate?If so, and it got crushed, would you have picked it if you knew that stocks with the highest growth rates have spotty track records?It seems logical to think that the companies with the highest growth rates would do the best. But it doesn’t always turn out to be the case.One explanation for this is that sky high growth rates are unsustainable. And the moment a more normal (albeit still good) growth rate emerges, the stock gets a dose of reality as well.For example, a company earning 1 cent a share that is now expected to earn 6 cents, has a 500% growth rate. But, if it receives a downward estimate revision to 5 cents, that’s a significant drop. Even though it still has a 400% growth rate, the estimates were just reduced by -16.7% and the price is likely to follow.If you’ve ever wondered how a stock with a triple-digit growth rate could possibly go down -- that’s how.Instead, I have found that comparing a stock to the median growth rate for its industry is the best way to find solid outperformers with a lesser chance to disappoint. And focusing on companies with growth rates above the median, but less than 50%, has produced some of the best results.Did You Know?...• Did you know that stocks receiving broker rating upgrades have historically outperformed those with no rating change by more than 1.5 times? And did you know they outperformed stocks receiving downgrades by more than 10 x as much? The next time one of your stocks is upgraded or downgraded, be sure to remember these statistics so you know how the odds stack up and whether they’re for you or against you.• Did you know that stocks with a Price to Sales ratio of less than 1 have produced significantly superior results over companies with a Price to Sales ratio greater than 1? And did you know that those with a Price to Sales ratio of greater than 4 have typically shown to lose money? That doesn’t mean that all stocks with a P/S ratio of less than one will go up and those over four will go down, but you can greatly increase your odds of success by following these valuations.• Did you know that the Zacks Rank is one of the best rating systems out there? And did you know that stocks with a Zacks Rank #1 Strong Buy have beaten the market in 28 of the last 34 years, with an average annual return of 25% per year? That’s more than 2 x the returns of the S&P with an 82% annual win ratio. And when doing this year after year, that can add up to a lot more than just two times the returns.• Did you know that two simple filters added to the Zacks Rank #1 stocks significantly increases its returns? What if you did? We have a screen that utilizes these two additional items to narrow that list down to 5 high probability stocks per week. Over the last 22 years (2000 thru 2021), using a 1-week rebalance, it’s produced an average annual return of 51.2%, which is 6.8 x the market. That screen is aptly called the Filtered Zacks Rank 5 screen. Do you know how well your stock picking strategies have performed?Whether good or bad -- do you know why?Do you know if your favorite item to look for is helping you or hurting you?This is important stuff to know.Beat The Market On Your Next Trade After the recent sell-off, and with stocks trading at huge discounts, now is the time to build your watchlist with new stocks to get into that will lead the market.And there's a simple way to add a big performance advantage for stock-picking success. It's called the Zacks Method for Trading: Home Study Course.With this interactive online program, you can master the Zacks Rank in your own home and at your own pace. You don’t have to attend a single class or seminar.Zacks Method for Trading covers the investment ideas I just shared and so much more. It guides you to better trading step by step.You'll quickly see how to get the most out of the proven system that has more than doubled the market for over three decades. Discover what kind of trader you are, how to find stocks with the highest probability of success, and how to trade them so you can consistently beat the market no matter where stock prices are headed.You’ll get the formulas behind our top-performing strategies suited for a variety of different trading styles..The best of these strategies produced gains up to +48.2%, +67.6% and even +95.3% in 2021.¹The course will also help you create and test your own stock-picking strategies.Today is the perfect time to get in. I'm giving participants free hardbound copies of my book, Finding #1 Stocks, a $49.95 value. Its 300 pages unfold virtually every trading secret I’ve learned over the last 25 years to beat the market.Please note: Copies of the book are limited and your opportunity to get one free ends midnight Saturday, July 16, unless we run out of books first. If you're interested, I encourage you to check this out now.Find out more about Zacks Home Study Course >>Thanks and good trading,KevinZacks Executive VP Kevin Matras is responsible for all of our trading and investing services. He developed many of our most powerful market-beating strategies and directs the Zacks Method for Trading: Home Study Course.¹ The results listed above are not (or may not be) representative of the performance of all strategies developed by Zacks Investment Research.   Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJul 15th, 2022

Celebrity designer takes on Paradise Valley home listed at $12.5M

Beverly Hills celebrity designer Anicia Bragg is leading an all-woman dream team on the design of a spec home in Paradise Valley listed for $12.5 million. Here's a sneak peek into what they have in mind......»»

Category: topSource: bizjournalsJul 14th, 2022

3 Types of Postcards That Still Work in Luxury Real Estate

Even in this digital age, print marketing is still an important tool to market your luxury real estate properties and business. High-quality postcards should be a part of your real estate business plan. While they work best when paired with email, social media and other marketing efforts, real estate postcards can expand your reach and… The post 3 Types of Postcards That Still Work in Luxury Real Estate appeared first on RISMedia. Even in this digital age, print marketing is still an important tool to market your luxury real estate properties and business. High-quality postcards should be a part of your real estate business plan. While they work best when paired with email, social media and other marketing efforts, real estate postcards can expand your reach and build your reputation as a luxury real estate professional. So, what are three of the most influential types of real estate postcards—and how can you use them to your advantage? Here are our top choices. “Just listed” postcards “Just Listed” postcards are a great way to generate new buyer leads and bring in potential new sellers in a targeted area. The key is to craft a unique and eye-catching postcard for each new listing as it goes live on your website or social media. When creating a “just listed” postcard for a luxury property, language and choice of words are paramount. The language you use in these marketing materials should align with the language you use when meeting your affluent clients face to face. Instead of using standard phrasing like “just listed,” opt for wording along the lines of “currently available.” Lastly, choose your postcard design and print materials carefully. Highlighting key features of the home with professionally-taken photos is a must, as is selecting premium cardstock that will communicate the grandeur of the property. “Just sold” postcards Advertising the properties you’ve already sold is perhaps just as important as marketing the ones that are currently on the market. Why? Announcing your sold properties is an excellent way to demonstrate your ability to make sales in a local market. This, in turn, can help you build your reputation as a trusted luxury real estate expert—thus increasing your chances of bringing in new leads. Still, just listing the addresses of local homes you’ve recently sold is not an effective way to use this type of postcard. Many luxury real estate agents have success in creating “just sold” postcards that tell a story, describing in detail how they helped Jack and Jill find their dream home. The key is to sell your potential clients on a lifestyle that could potentially be theirs. Personal sphere postcards Last but not least, personal spheres are becoming increasingly popular, especially when it comes to building a luxury real estate print marketing strategy. Available in the form of brochures, postcards and other print materials, personal spheres can be customized any way you see fit. You might use a personal sphere to share information on current real estate trends, publicize community events or even showcase your featured listings, all of which can help you establish and maintain personal connections. Busy luxury real estate professionals enjoy using personal spheres as part of their print marketing because this is more or less a turnkey service with minimal hands-on work required of the real estate professional. Meanwhile, these personal spheres can considerably impact your client base, helping you maintain your relationships with past clients while creating new opportunities in the process. Ramp up your print marketing today While this is just a sampling of the types of print marketing materials that can help you take your luxury real estate brand to the next level, it’s an excellent starting point for real estate professionals. The key is not just choosing the suitable types of postcards to spend your marketing dollars on, but finding ways to set your print materials apart from the rest. REAL Marketing makes it easier to generate quality “sold,” “listed” and personal sphere marketing materials that will catch your audience’s attention. From inspired layouts to customized designs, the REAL Marketing team can help you leverage your listings and increase your exposure. Meanwhile, you can further your influence as a luxury real estate professional by obtaining the Certified Luxury Home Marketing Specialist (CLHMS) Designation from the Institute for Luxury Home Marketing. Get in touch today to learn more about how to get started. Diane Hartley is the president of the Institute for Luxury Home Marketing, a premier independent authority in training and designation for real estate agents working in the upper-tier residential market. Hartley brings her passion for luxury marketing and more than 20 years of experience growing and leading businesses to her role as president of the Institute. The post 3 Types of Postcards That Still Work in Luxury Real Estate appeared first on RISMedia......»»

Category: realestateSource: rismediaJul 14th, 2022

Top 11 Summer Side Hustles For Retirees

Summer has always been a great time to relax and enjoy your free time, but now that you’re retired, it’s as good a time as any to take on a new side hustle. Unlike most other people who don’t have the luxury of time to spare to make some extra cash any time of the […] Summer has always been a great time to relax and enjoy your free time, but now that you’re retired, it’s as good a time as any to take on a new side hustle. Unlike most other people who don’t have the luxury of time to spare to make some extra cash any time of the year, retirees can actually use the warmer weather and longer days to their advantage. If you’re looking for a summer side hustle, here are 11 ideas to help you bring in some extra cash. Whether you want to earn a little extra spending money or save up for a rainy day, these side hustles can be a great way to supplement your income. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. Get into trading The stock market usually sees an uptick in activity during July and the rest of the summer months, so this can be a great time to get into trading. While trading is, and always will be, a risky endeavor, it has proven to be highly profitable for those who do it intelligently. This means learning as much as possible about the market, how trading platforms work, performing technical and fundamental analysis, choosing stocks to invest in, and so on. If you’re feeling a bit more adventurous, you can also take a swing at crypto trading. This has its particular set of challenges, including learning how blockchain technology works, choosing and learning how to use the right crypto exchange platform, choosing what cryptos to invest in, and more. While most retirees and seniors tend to be more risk-averse than younger investors and sometimes steer clear of the stock or crypto markets, retirees have an advantage over young, part-time investors who work regular jobs. They have time to spare to keep an eye out for new market trends and to act accordingly, taking advantage of trading opportunities that only full-time traders can leverage. That said, it’s important to note that, no matter how much you prepare, study and practice, investing in the stock market or cryptocurrencies will always be risky. Consequently, you should never invest more than you’re willing or able to lose without it jeopardizing your nest egg and retirement income. Start a garden or, better yet, a greenhouse business One of the best things about retirement is having more time to pursue interests and hobbies. If you have a green thumb, consider starting a garden. Not only can gardening be therapeutic and fun, but you can also grow your own food and sell produce at a local farmers’ market or to local restaurants. If you don’t have much space, container gardening can be an option. You can grow herbs, vegetables, and flowers in pots on your porch or balcony, or you could even join forces with other retirees to start a community vegetable garden. If you have more space, like a big backyard, and want to take your gardening business one step further, you can start a small greenhouse business. With a greenhouse, you can grow plants and produce year-round and sell them to customers in your area. Summer is a great time to sell those plants to locals and tourists alike. Drive for Uber or Lyft If you live in a bustling town or city with many tourists or a vibrant economy, you can make some extra cash by driving foR rideshare services like Uber or Lyft. This is especially true during the summer when tourism is at its peak. To get started, all you need is a clean driving record and pass a background check. You also need a car no more than ten years old and in good working condition. If you meet all these requirements, you can sign up to drive through the Uber or Lyft website or app. Once approved, you can start picking up passengers and earning money. The great thing about being an Uber or Lyft driver is that you can choose your hours and work as much or as little as you want. Feeling bored when the grandkids take it to the pool? Hop on your car and make a few runs. Rent out your power tools or other hardware If you’re the handy type and have a garage full of tools or have plenty of professional gear left over from your younger years, you can make some extra cash by renting them out to people in your community who need them for a one-time project. You’ll find websites and apps like Sparetoolz, Presta, Rent My Equipment and ShareGrid that allow you to list your tools and other specialized equipment for rent. There’s an app for every niche. ShareGrid, for example, specializes in cameras and photographic equipment, while Presta focuses on outdoor gear. Once your items are listed, people in your area can search for and find what they need. They’ll contact you to arrange a time to pick up the item and return it when they’re done. You get paid through the app after the rental period is over. Renting out your tools is a great way to make extra money without having to do much work. It’s also a great way to meet new people in your community. Turn your favorite hobby into a new business Do you have a hobby that you’re passionate about? If so, why not turn it into a business? Many retirees have done just that and are now living their dream. For example, if you have a knack for crafting, you could start a business making and selling handmade jewelry, pottery, woodwork, or other artisanal products. Or, if you’re a talented painter, you could start selling your paintings online or at local art fairs and galleries. The possibilities are endless. The key is to find a way to monetize your hobby so that you can make some money from it. Once you do that, you’ll be well on your way to starting a successful new business. Start a dropshipping business Dropshipping is an eCommerce business where you sell products online but don’t keep any inventory. Instead, when a customer orders a product from your store, you simply contact the supplier and have them ship the product directly to the customer’s door. Dropshipping is a great business for retirees because it doesn’t require much start-up capital or ongoing maintenance. You can run your dropshipping business in your spare time and from the comfort of your own home. You’ll need to create a store using an eCommerce platform like Shopify or BigCommerce. Then, you’ll need to find suppliers willing to dropship their products. Once you’ve done that, you can start listing products for sale in your store. Tutor students online or in-person If you’re a retired teacher or have a background in a particular subject, you could start tutoring students online or in person. Tutoring is a great way to make some extra money, and it’s also a great way to give back to the community. You can use websites and apps that allow you to connect with students who need help with their studies. For example, platforms like Chegg, TutorMe and Tutor.com match tutors with students, helping you with marketing and payments. Summer offers the chance to find students taking summer courses or needing to prepare for an upcoming admission test. Tutoring is a great way to make some extra money, but it’s also a great way to stay sharp and keep your mind active. It’s a flexible gig you can do entirely on your own schedule. So, if you’re looking for a side hustle that allows you to set your hours, this could be the perfect option. Become a freelance writer or start a blog If you have a knack for writing, why not turn it into a summer side hustle? There are plenty of ways to get started as a freelance writer, including pitching articles to online publications and starting a blog. You can also work with companies to write content for their websites or ghostwrite books. To get started as a freelance writer, look for job postings online or contact companies directly to inquire about writing opportunities. Once you’ve landed a few clients, build up your portfolio by writing sample articles or creating social media posts. Blogging is another great option for retirees who want to make money from writing. If you have an interesting story to tell (most retirees do) or some valuable advice to share, starting a blog could be the perfect summer side hustle for you. Best of all, it’s free to start, and you can do it entirely on your schedule. Tour guide services If you’re passionate about your hometown or city, why not start a business giving tours? You could give walking tours, driving tours, Segway tours, food tours, or any other type of tour you can think of. This is a great summer side hustle for retirees because it’s relatively easy to get started and can be quite profitable. Plus, it’s a great way to meet new people and show them around your city. Before you get started, it’s a good idea to contact your local tourism board or chamber of commerce and inquire about getting certified as a tour guide. Once you’re certified, it’ll give you more credibility and make it easier to find clients. Create an online course If you’re an expert in a particular subject or skill, you could create an online course and sell it to students. This is a great way to make money from your knowledge, and it’s also a great way to share your expertise with the world. Creating an online course is a bit more involved than some other side hustles on this list, but once the course goes live, it becomes a source of passive income. You could start creating one course after another and build a nice monthly income that’ll make your golden years shine. Rent out your home on Airbnb It’s common for retirees to end up with a big home full of empty rooms. While some retirees decide to sell their houses and move to a smaller, more affordable place, those who haven’t made up their minds can generate a new income stream by listing the extra rooms on Airbnb. With Airbnb, you can rent out your space to travelers from all over the world. This is a great way to earn extra money and meet new people from different cultures. There’s no better time to start than during the summer when tourism is at its peak. The bottom line Retirement doesn’t have to mean sitting around at home all day. There are plenty of ways to make money and stay active during retirement, particularly during summer. So, if you’re looking for a summer side hustle, consider one of the options on this list. You might find the perfect way to make your golden years as enjoyable as they’re meant to be. Article by Jordan Bishop, Due About the Author Jordan Bishop discovered the power of credit cards at a young age. His first splash into travel hacking came with the wildly viral launch of Yore Oyster, which landed him national media attention and more than a million frequent flyer miles. He leveraged that opportunity to help tens of thousands of people save millions of dollars on flights, all while globetrotting the world. Updated on Jul 12, 2022, 3:47 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkJul 12th, 2022

The Next Chapter For Rowan Street

Rowan Street Capital commentary for the month of July 2022. Dear Partners, This year we celebrated 7 years since the founding of Rowan Street Capital. In our 2020 year-end letter we shared our story with you and the evolution of our investment approach. Investing is a journey filled with many ups and downs and countless […] Rowan Street Capital commentary for the month of July 2022. Dear Partners, This year we celebrated 7 years since the founding of Rowan Street Capital. In our 2020 year-end letter we shared our story with you and the evolution of our investment approach. Investing is a journey filled with many ups and downs and countless lessons. As they say, investing cannot be taught, it has to be experienced. On Wall Street and in today’s world of information overload, you are constantly bombarded with new ideas that constantly appear “sexier” than what you already know well or the stock is going up much faster than the stocks in your portfolio. If you really think about it, you only need a few best ideas, few extraordinary businesses in your life. The key is to stick with them as long as they remain extraordinary. This is truly the path to extraordinary wealth! And no one knows this better than Charlie — below is one of my favorite videos of him where he explains this simple concept: if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more The difficult part here, of course, is saying NO to almost all other ideas because they distract from your best ideas and detract from your process of compounding. Here too, though, there is quite a balancing act. You want to be able to say NO in order to keep your focus on your best ideas, but at the same time you want to be open-minded to learning about new businesses and developments and expanding that circle of competence over time. Unfortunately, this simple realization came to me after many years of investing. About five years ago, we decided to refocus our efforts into just owning a few extraordinary businesses that are run by talented, passionate and honest managers, who are also business owners. Just like rare diamonds or truly special and unique pieces of art, extraordinary businesses and management teams are very rare, and once you find them and understand their magic, you tend to hold on to them. Selling one just because it doubled in price over the course of a year or two does not make much sense; neither does it make sense to sell just because the stock price is dropping. First, you have to pay the capital gains tax. Second, the likelihood of finding another gem that is as good as the one you already own, and finding one that is selling for a reasonable price (true gems are never without a huge fan base) is relatively low. Third, we found that it takes quite a bit of time to truly get to know the management and understand “the magic” of the company. Getting to know companies is very similar to getting to know people. They may give you a great first impression, but it takes a while before you get to know the true person deep down inside. It is very rare to like something just as much or even more after you have owned it for 3 years. That’s why we always say that conviction is a lot like love and trust, it can only be built over time. Which pond do we fish in for extraordinary businesses? We found that they can be absolutely anywhere, in any industry, geographical location and come in any size. What we discovered in our 20+ years of investing, is that extraordinary businesses are always built by extraordinary people. These people are super rare! They possess special qualities, personality traits and a winner‘s mentality. They are passionate entrepreneurs that are absolutely obsessive in their belief and their devotion to their vision for the company that they are building, and they are constantly building and evolving, they never rest on their laurels. Let me give you a few examples. A couple of years ago, I read a book called “The Airbnb Story”. Here are a two quotes from this great book that help illustrate what I’m talking about: Brian Chesky’s (Founder/CEO) fanatical belief in and devotion to what he sees as Airbnb’s higher purpose seem to be the things that drive him more than anything else. He believes in home sharing “down to his toes” and he talks about the company’s mission, “belonging anywhere,” relentlessly, not as a CEO talking up the tagline that sells the product his company makes, but as the reason he was truly put on this earth! Really, honestly. I have seen so many different founders—literally, thousands. And I can tell the opportunists from the believers. It’s way beyond money or even fame for him. For that reason, Chesky may not be cut out for just any CEO role. He’s the kind of leader who leads people to do things that he himself believes in. You could not hire him as the CEO of some random company. Warren Buffett sensed this, too. “He feels it all the way through. I think he would be doing what he’s doing if he didn’t get paid a dime for it.” This kind of mentality and passion drives a unique and special energy, which is contagious. It turns employees into believers and attracts the right people, talents and resources into the company. It instills the certain kind of a “winners DNA” that runs deep in the company's founding roots. This stuff is very intangible and a lot of times you cannot see this in a company's financials or by running a screen on your Bloomberg terminal. Humans have a tendency to want to quantify everything that is meaningful. But so much of whats meaningful is based on human spirit and is unquantifiable. That is why long-term investing is more of an Art rather than Science. Let me give you another example. The mentality of a passionate Founder/CEO drives a completely different thought process and decision-making that makes all the difference. This is a quote by Brian Armstrong, Founder and CEO of Coinbase: “I can speak with some authority and say we are not going to do that because this is not why I started the company — I don't have to give any other justification. Rather than the professional CEO that comes in that is accountable to Wall Street and quarterly earnings may start thinking about the company differently. One of the most scarce things in companies today is risk tolerance. For example, take Tesla vs. Waymo. Tesla launched self-driving cars while Google didn’t. The reason is the founder-CEO (Elon Musk) said that I care enough about the mission that we are ready and we are gonna go for it. Whether a professional CEO is thinking about his/her career trajectory, the founder CEO doesn’t care about the next job and only cares about the mission.” The following quote is from one of my favorite books “100 Baggers” written Christopher Meyer, which drives the same point home: “People (owner-operators) running these companies are in control, so when we experience a drawdown like 2008, that’s precisely when they are going to deploy cash because opportunities are so rich and thats when you want to be spending money. Compare this behavior to agent-operated companies. They loathe spending cash or taking on debt in a highly volatile environment. An agent-operator is so fearful about how that will be perceived by the public and the board and how it may impact his/her career prospects. If you study all the great Founders/CEOs like Steve Jobs, Bill Gates, Mark Zuckerberg, Elon Musk, Warren Buffet, Larry Ellison, Brian Chesky, Reed Hastings, Marc Banioff, Jim Walton and Phil Knight, just to name a few, you will find many similarities in how they ran their businesses and in how they make decisions. What also distinguishes them is they remained majority shareholders (owners) of their companies throughout their careers. While every single founder listed above has experienced their company stock dropping 50% and much more on several occasions, they continued to hold on to every single share — that is what true business owners do, they continue to own and compound their wealth over time. In contrast to agent-operators (hired CEOs) that usually own less that 1% of company stock and consistently sell for “financial planning“ purposes. One question that we always get… Since 2017, you have been heavily invested in digital platforms and in growth-oriented innovative and disruptive firms. At the same time, you look for durable competitive advantages in companies and are looking to own them for the next 5-10+ years. Technology is a rapidly evolving space and it's very hard to predict who gets disrupted, who survives and who gets to be the winner. Why not stay with the safer, predictable companies like you did in the early days? Well, the world has changed quite a bit from the one 50-60 years ago when Warren Buffett was starting to build his empire. The enduring moats of the 20th century were the widely-known brands like Coca-Cola, American Express, See’s Candies, Wrigley’s or low-cost producers like Geico, Walmart, Costco. These businesses were highly predictable. Like Warren Buffett once said: “The internet is not going to change how people chew gum.” Well, who could have predicted that the internet disrupted traditional retailing and drove exponential growth in e-commerce, which hugely affected the traffic in the check-out lines where most chewing gum sales occurred. We live in the 21st century of disruptive innovation and digital transformation. Change is the driving force for creative destruction and value creation! Thus, we need to spend more and more time understanding change and the people behind it rather than trying to find businesses that are unlikely to change over the next 5-10+ years. We also believe that the very definition of technology and the “tech sector” as Wall Street likes to coin it does not make sense anymore. Every single industry out there is being disrupted and if you are not a technologically-focused company, you are guaranteed to be out of business sooner or later. The pandemic of 2020-21 actually was a preview of what’s coming. Traditionally “safe” dividends and predictable “earnings” are no longer safe and predictable! Amazon (NASDAQ:AMZN) disrupted the traditional retail model (was not profitable until 2016 because it heavily reinvested its gross profits into widening its economic moat) Netflix (NASDAQ:NFLX) disrupted Hollywood, Cable TV and movie theatres (cash flow negative until 2020; reinvested $92 billion over past 10 yrs into content) Google (NASDAQ:GOOG) and Facebook (NASDAQ:META) disrupted the advertising industry, traditional media (newspapers, TV) Airbnb (NASDAQ:ABNB) disrupted the hotel and hospitality industry Spotify (NYSE:SPOT) disrupted the music industry and brought it back to life via streaming Tesla (NASDAQ:TSLA) disrupted the auto and transportation industry Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) disrupted the traditional taxi industry Apple (NASDAQ:AAPL) disrupted everything (the way we spend our time, conduct business, travel, communicate) Zoom (NASDAQ:ZM), Slack (NYSE:CRM) and Snowflake (NYSE:SNOW) disrupting the way we work These are just a few examples of many disruptions going on right now. We cannot stop them, we can only embrace them, study them and be a part of them! Who We Are It is common knowledge that the average return in the U.S. equity asset category over the last century has been in the neighborhood of 9-10%. It just so happens that this figure correlates with the rate of return on the owner’s capital of the typical U.S. company. We posited from this observation that our return on an asset would therefore approximate the return on the owner’s capital, absent any distributions, and assuming a constant valuation. And since our stated goal is to compound our partners' capital at double-digit returns over time, we needed to identify this group of superior businesses, which earn double-digit rates of return on their owner’s capital. We have identified that investing in a few “extraordinary” businesses, as we define them, is the BEST way to achieve our goal. And to tie this back to our earlier discussion, extraordinary businesses are always built by extraordinary, passionate and almost fanatical people. These people are winners, missionaries and exhibit true passion for their vision of what they are building, and they believe in that with every cell in their body. Over many years, as we refined our investment philosophy, we found that our sole focus should be on identifying and partnering with these visionary CEOs and best entrepreneurs in the world, preferably in the earlier-to-mid stages of their careers. We are not venture investors and never just bet on pure ideas and vision. We like to bet on entrepreneurs that have already proven their abilities to execute against all odds. We like to see evidence of the strong competitive advantages forming. We focus all our efforts and energy on winners — companies that either are already #1 or have strong potential in becoming #1 in their respective industries. We found that this particular style and approach to investing fits who we are the best, and thus will create the most value for our investors over time. The process of identifying these requires intense multi-year research effort that dives deep into the DNA and the culture of the company, understanding the roots of the Founder/CEO, their motivations and mentality and the true source of their drive. These things are very intangible, but we believe they tell us the story that no financial statements could. By any means, this doesn’t mean that we don’t pay attention to numbers. We definitely do, but numbers to us are simply a longer-term confirmation that our original thesis is correct and that the management is executing against their strategy, and are in-fact, doing exactly what they promised. The next Chapter for Rowan Street To summarize, over the next 10+ years we will focus every bit of our time and energy on being true long-term business partners with the most extraordinary entrepreneurs in the world, who have already proven their ability to execute against their vision and strategy. We have been transitioning the Rowan portfolio to this strategy over the past 4 years. In our top 4 positions in the fund (Spotify, Meta, Trade Desk, Topicus) we have identified these “extraordinary” businesses that we talked about, and we believe they are run by some of the most passionate and missionary Founder CEOs in the world: Daniel Ek, Spotify (NYSE:SPOT) Founder and CEO Visionary entrepreneur who set out to reimagine the music industry and to provide a better way for both artists and consumers to benefit from the digital transformation of the music industry. He beat Apple, Amazon, Pandora to become the largest music streaming platform. Daniel owns 17% of the company, and his co-founder Martin Lorentzon owns 11%. When Spotify went public in 2018, they were a music-streaming company, but they have evolved dramatically over the last four years. Daniel Ek’s ambitions did not stop at music, as Spotify is focused on building the global audio infrastructure of the Internet. They are continuing to expand and build on the strong foundation in music, applying their learnings and leveraging their leading 420 million user base to move into new verticals like podcasting and audiobooks, ultimately broadening their value proposition. As a result, they are building a more resilient business. For example, in three years, Spotify has gone from basically zero to being the market leader in podcasting — a business that we believe will enable a large influx of high-margin revenue through advertising and direct monetization. Just as video content is a trillion-dollar opportunity, we view audio through a similar lens. Spotify has the potential to become the Google of audio. We believe Spotify is one of the most relevant digital platforms in existence today, as it has transformed itself to a fully-fledged platform where artists and creators can create, engage, and earn. A platform fueled by subscription, advertising and creator service models, applied to music, podcasts, audiobooks and more. At a current market value of just $20 billion, we think Wall Street is not appreciating the true long-term potential of the Spotify Machine. Mark Zuckerberg, Founder and CEO of Meta (NASDAQ:META) Mark does not need an introduction. We started buying Facebook shares back in 2018 when the stock was very depressed as Facebook was dealing with a long ‘dirty-laundry’ list of challenges. We were convinced that Facebook remains an extraordinary business with incredible moat (2.9B users), and they still have tons of opportunities to profitably reinvest their capital. We have been very impressed with how Zuck & Co. handled a long list of challenges over the past few years and managed to keep growing and innovating! There are not many CEOs in the world that are more committed to the long term vision of his company than Zuck. We encourage you to read his recent Founders Letter where Mark has outlined his vision (next chapter for the internet and next chapter for his company) — its hugely inspiring. Jeff Green, Founder/CEO of Trade Desk (NASDAQ:TTD) Jeff has been on a mission to make data-driven advertising as ubiquitous as electronic trading in equities ever since he founded the Trade Desk in 2009. Since day one, his goal was to create a platform where advertisers could value media inventory through data-driven decisions. With the ability to buy and sell advertising inventory electronically or programmatically, advertisers could use data to make better decisions on what, when, and whom to show an ad impression. Jeff owns 10% of the company. Jeff has built Trade Desk into a leader in ad tech, with a record of $6.2 billion spend on the platform in 2021, up 6x since 2016. Revenues are estimated to hit $1.6 billion in 2022, up almost 8x since 2016. Total Specific Solutions (TSS) was an operating group of Constellation Software (CSU:TSX) that was spun out in early-2020. Mark Leonard started Constellation Software (CSU) in 1995. Since then, he’s been on a 27-year acquisition bender of vertical market software (VMS) companies. Today, CSU is a collection of independently managed VMS businesses across dozens of verticals: hospitality, education, healthcare, banking, marine management, libraries, transportation, publishing, utilities, logistics, construction, retail… and the list goes on. Mark Leonard is one of the best compounders of capital in history. CSU stock is up 10,168% since it went public in 2006, which translates to 34% annual return. There are few public equities that can match this track record. The newly formed entity is called Topicus (CVE: TOI), which trades on the Canadian exchange. Topicus, operating in European markets, is effectively a carbon copy of CSU, with a nearly identical decentralized organizational structure, decentralized M&A process, sticky customers, and strong reputation as a perpetual owner of VMS businesses. Even the board of directors has meaningful overlap. In summary, all four entrepreneurs we discussed above have proven their ability to execute against all odds and they have built exceptional companies that are the leaders in their respective industries. Given a long-term investment horizon that we employ, we believe these leaders will continue to create significant shareholder value, and we expect to see significant appreciation in their stock prices over the next 3-5 years. New Position We have taken advantage of the recent downturn in the market to add another position to the fund that is consistent with our goal of partnering with the world’s most extraordinary businesses and entrepreneurs. Tobias Lutke, Shopify (NYSE:SHOP) Founder and CEO When Tobias Lütke opened an online snowboarding store in 2004, he realized how painfully cumbersome e-commerce software was. So he decided to create Shopify — a platform that made it easy for anyone to open up an online store. Tobi has built Shopify into one of the most popular e-commerce platforms in the world, with $175 billion in GMV (Gross Merchandise Value) and $4.6 billion in revenues in 2021. SHOP went public in 2015, when revenues were just lightly above $200 million, and the stock is up 1,233% since its IPO. Shopify stock peaked in November 2021 (traded at astronomical 47x sales), which coincided with peak enthusiasm for the tech-driven, “stay-home” stocks. Since then, the stock is down almost 80% and is currently trading at just 6x 2023E sales. We believe that Mr. Markeat is oferring us an exceptional value, at current price levels, for an exceptional company led by a very talented, visionary founder/CEO Why? Just like the entrepreneurs that we look to partner with, we are deeply passionate about what we do and where we are looking to take Rowan Street over the next 10-20 years. Building a fund like Rowan Street has been my dream ever since I read “The Warren Buffett Way” by Robert Hagstrom back when I was still in college. I believe with every cell in my body that the past 7 years since we started the fund has been a set-up for what’s coming. The experience and the lessons we had learned have given us a laser sharp focus. We know exactly where we are looking to “steer this ship.” This is not just a job to us. This is our life’s purpose — doing what we do at Rowan Street gets us out of bed in the morning. Our goal is to be the best, to establish one of the best and longest track records in the 21st century. And this journey and the achievement of this very audacious goal will not be possible without the trust of our like-minded and patient partners. This ties back to our original vision, which we outlined in our very first letter: “Our vision is to build something special at Rowan Street Capital, LLC where our partners can visualize themselves as part owners of a business they expect to stay with for a long time, just like they would if they owned a rental property or a farm in partnership with members of their family. The goal is to build a portfolio of great companies that will compound our partners’ family wealth at double digit rates of return over a long-term holding period.“ Power of Compounding vs. Human Nature John Maynard Keynes laid out his understanding of the quirky, contrarian nature of investing: “It’s the one sphere of life and activity where victory, security and success is always to the minority, and never to the majority. When you find everyone agreeing with you, change your mind. When I can persuade the board of my insurance company to buy a share, that, I am learning from experience, is the right moment for selling it.” As we write this letter today, the world is full of fear. Investor sentiment is extremely bearish fueled by the endless macroeconomic worries of rapidly rising inflation, increasing interest rates, the “looming recession”, the war, etc. This is in contrast to just 12 months ago, when the world was full of greed and speculative gambling behavior. Just a year ago, everyone was desperately trying to get rid of cash. That was the number one enemy and it was burning a hole in everyone’s pockets. The conventional wisdom was that inflation was going to destroy your cash and you have to desperately deploy your cash into any other asset (stocks, real estate, crypto) no matter what the asking price was. “Just get rid of it!” Now that the irrational, “bubble-like” valuations have come down significantly for almost all asset classes, having cash on the sidelines to take advantage of the newly created opportunities doesn’t seem so bad. Now, conventional wisdom is to sell your rapidly declining stocks and go to cash because that is the “prudent” thing to do in order to protect yourself and your net worth. Well, the conventional wisdom is long on convention and short on wisdom. Past couple of years have given us a perfect example of why more investors do not reap the benefits of compounding. The reason has surprisingly little to do with recessions, depressions, wars, financial crises, political crises, rising interest rates, inflation, stagflation, a global pandemic, or most adverse macroeconomic events. It is not adverse macro events that derail compounding, it is investors’ reactions to them. Majority of investors spend a lot of their time and energy on what we believe to be counterproductive behavior: trying to time the market (trying to sell before the next recession, trying to buy just before the next bull market), “repositioning” portfolios based on what is supposed to do better in the new paradigm (e.g. sell tech and buy energy and commodities), dumping stocks during a downturn, which deprives oneself of the means to eventually recover. This is precisely why compounding over the long term is so challenging and rare: it demands rational, grounded behavior that runs counter to human nature. Well, this is not our game to play! We believe that long-term wealth creation is about investing in great businesses with great people and compounding capital over the long term. So, despite wars, pandemics, recessions, inflations, etc…, it’s those investors that just continue to buy and own great businesses that generate excellent returns. We believe the proven secret to successful investing is simple: stay invested in great businesses and do not get too excited or fearful about the market gyrations that happen every day, and just keep with it. ”To make money in stocks you must have the vision to see them, the courage to buy them, and the patience to hold them. Patience is the rarest of the three.” — Thomas Phelps We have observed that all returns in life, whether its investing and wealth, health, relationships, or knowledge, come from compound interest. Thus, we believe in playing the long-term game with long-term people — this is where the Rowan Street train is going. We truly appreciate all of you that are on board, that trust us, and believe in our vision, and we hope that this ride will create plenty of wealth and satisfaction for all our partners! Office in New York City On a separate note, I have recently relocated to New York City. Joe is still based in Bellevue, WA. We have not opened an office here yet, but something we are considering down the line. Please feel free to reach out if you are visiting NYC this summer. Would be happy to grab a coffee or lunch. Best regards, Alex and Joe Updated on Jul 7, 2022, 9:11 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkJul 7th, 2022

Meeting the Demand of the Secondary House Market

Vacation properties, or secondary homes, make up a small percentage of the overall real estate market but remain a valuable source of income for real estate agents who list them. Though they are a small number, secondary properties are usually the same median price as primary residences, and prices are growing along with increasing demand.… The post Meeting the Demand of the Secondary House Market appeared first on RISMedia. Vacation properties, or secondary homes, make up a small percentage of the overall real estate market but remain a valuable source of income for real estate agents who list them. Though they are a small number, secondary properties are usually the same median price as primary residences, and prices are growing along with increasing demand. In fact, secondary homes are outperforming total existing-home sales, rising by 57.2% year-over-year, more than twice the 20% growth in total existing-home sales. If you operate in an area where clients might be interested in lakefront, beachfront or mountainside properties, read the tips below to help manage these sales. Look forward to a competitive market With traditionally fewer sales and less supply than average residential properties, this niche market is expected to continue to remain aggressive for agents, brokers and clients alike. If you’re interested in specializing in secondary properties, you’ll need to adjust your marketing strategy, making it unique to the wants and needs of vacation homebuyers and sellers. Clientele in this market might be slightly different than what you may be used to in terms of residential real estate, so make sure you review your sales pitch, marketing materials and entire language around vacation homes to appeal to the needs of this market segment. You can even update your messaging and bring your brand to life through a resource like HomeSmart’s Marketing Design Center, a one-stop shop for customizing your marketing materials on the go. Know your region Certain parts of the country survive on secondary home interest, be it beachside getaways or ranch-style land grabs in the flyover region. From San Francisco to Los Angeles, New York City to Oklahoma City, depending on where you operate can be the deciding factor for secondary homebuyers. But even if your city isn’t known for its secondary housing, you can still help your clients out by knowing where the hottest markets are for vacation properties. Many of your clients in these cities might be looking for a second or vacation home in a hotter market nearby. Stay engaged with your clients A major risk related to secondary properties is clients not committing to purchasing a property. Since vacation homes and secondary houses, in general, are just that, secondary, clients usually have buyer’s remorse before they even purchase the property. This may be due to someone jumping before they look and not understanding what comes with a secondary home purchase, typically including a larger than a standard 20% down payment. Additionally, secondary home value appreciation typically underperforms for most of the country. Agents need to make sure they are open with their clients and communicative about everything they should expect, including how much money it will cost upfront and over time. While this is a fast-rising marketplace filled with opportunities for everyone from broker to buyer, seller to agent, it’s important to understand the details that come with it. Staying informed, delivering that information and tailoring your communication to speak to clients uniquely will help keep everything transparent in a niche whose demand is expected to continue increasing into the future. As the designated broker of HomeSmart in Palm Desert, California, Mike Jeppson oversees the daily operations and manages over 500 agents. A high-touch broker known for his extensive market knowledge, Jeppson aims to produce positive results and impact all of those he comes in contact with. The post Meeting the Demand of the Secondary House Market appeared first on RISMedia......»»

Category: realestateSource: rismediaJun 29th, 2022