There are plenty of myths associated with VA loans, many of which are completely untrue and unfounded. One of these myths is that VA loans can take forever to close. […]
A judgment is an order issued by a court of law. When you borrow money, you are legally required to repay the debt. This includes opening a credit card account, getting a line of credit from your bank and obtaining financing for a big purchase. You can also become indebted to service providers. This can… Read More
The post What is a Judgment? appeared first on Credit.com.
According to the U.S. Department of Agriculture (USDA), raising a child to the age of 18 sets families back an average of $233,610, and thatâs for each child. This figure doesnât even include the cost of college, which is growing faster than inflation. CollegeBoard data found that for the 2019-2020 school year, the average in-state, […]
The post 10 Financial Steps to Take Before Having Kids appeared first on Good Financial CentsÂ®.
Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all banks, […]
Financial emergencies happen to the best of us, which is why itâs always a good idea to set aside an emergency fund. But if you donât have an emergency fund, itâs also possible to take…
The post Best Cash Advance Loans for Bad Credit appeared first on Crediful.
Bankruptcy is not the end of the world. In fact, while it is more difficult to acquire loans and credit cards, itâs not impossible. In this guide, weâll show you how you can get short-term loans and long-term loans even after you have filed for bankruptcy. Whether you have debt to repay, bills to cover […]
Personal Loans After Bankruptcy is a post from Pocket Your Dollars.
Using the Hudhomestore to buy a HUD home is easy. If you’re looking to buy a HUD home, the Hudhomestore website is the best place to do it. It can be found here at hudhomestore.com. HUD homes are listed for sale at the site. While anyone can buy a HUD home, you will need to …
The post How to Buy a HUD Home at the Hudhomestore Website? appeared first on GrowthRapidly.
After months of searching, planning and saving, youâre finally ready to apply for a mortgage. You think you have all your ducks in a rowâyou have great credit and a killer history of making your loan payments on time. But thereâs one small hiccup. A lender noticed that youâve had a recent, slightly unusual cash… Read More
The post How to Explain a Cash Deposit for a Mortgage appeared first on Credit.com.
Your guide to understanding how a Fed rate cut could impact your mortgage as a homeowner or prospective buyer.*
The post What Happens to Mortgage Rates When the Fed Cuts Rates? appeared first on Discover Bank – Banking Topics Blog.
They say that millionaires have 7 streams of income. And most of them are boring. Common examples of income-generating assets include your classics like real estate (rental income, depreciation benefits, equity appreciation) and dividend stocks (dividend income is taxed favorably), which I love.
But every so often, there's one in there that sounds as exciting as going to Vegas and always betting on black.
Today, I want to talk about those obscure investments. Those weird, you only hear about them in the movies, oddball investments that can produce cash flow. I don't want the obscure ones that don't produce cash (invest in whiskey, art, or some other collectible … that just makes you eccentric), these have to produce a stream of income.
Maybe the stock market has you spooked. Maybe you simply have enough in equities.
Maybe you want income but all the income-producing assets you know of are boring (or you have enough) – who really cares about certificates of deposit, Treasury bonds, and dividend stocks. If you wanted them, you would've gotten them by now (or you have and want even more diversification).
Today, you'll read about some truly interesting assets that you've probably never heard of before:
I will reference different websites and companies in this list as examples. I haven't used a single one of them. These are not endorsements.
1. Crowdfunded real estate
Crowdfunded real estate is a relatively new phenomenon. It's when you can invest in a little piece of real estate as part of a “crowd” of investors. This lets you diversify your real estate holdings without the work of buying and selling properties.
You have some companies, like RealtyMogul, that curate deals and offer you a piece of the investment. There are others, like Fundrise, that run funds that do the investing and you can buy shares of those funds. In both cases, you diversify your risk across several investments and can generate passive cash flow in the process (as well as equity appreciation).
If you aren't an accredited investor, here is a list of real estate investing sites for non-accredited investors.
2. Peer-to-peer lending
Peer-to-peer lending is older than crowdfunded real estate investing but follows the same principles. You act as a bank, lending money to borrowers, but are able to diversify your loans across a variety of different borrowers with varying levels of risk. By funding loans with $10 and $20, you can deploy thousands of dollars across hundred of borrowers that, hopefully, are not correlated.
3. Mineral rights
Mineral rights are exactly that—the rights to extra minerals from the earth for a specific plot of land. They may be called mineral rights, mineral interests, or mineral estate, but the term is clear. It gives the owner the right to mine and extract minerals from the land.
When you own the mineral rights, you own any valuable minerals trapped in the land.
This is lucrative because when you own the mineral rights, you own any valuable minerals trapped in the land. The most valuable minerals are oil and gas, gold, copper, diamonds, and coal. In the United States, most of the value is in finding oil and gas.
When you own a mineral right, you can reach an agreement with a miner or extractor to receive a royalty based on production. For example, it's not uncommon for the Lessee (the miner) to pay the Lessor (owner) 1/8th value of what is produced.
If you want to buy mineral rights, do your homework!
4. Structured settlements
Structured settlements are an interesting asset.
Let's say you slip and fall in a store. You sue the store, because they were negligent, and you reach a settlement with the store. They offer to pay you $5,000 a year for 20 years. You see this a lot whenever there is a settlement on a massive scale with multiple claimants. The responsible party has to do this or they might go bankrupt. If they go bankrupt, no one gets paid.
Structured settlements are fine, except sometimes the person getting the money needs the whole sum. Or they don't want to wait. That's when an investor can offer to buy it from them. At this point, it's really an annuity to the investor.
This area has a bad reputation because sometimes the parties involved don't behave honorably. They might take advantage of someone in a bad situation and offer a lowball amount for a settlement. Whatever the case may be, the instrument itself is aboveboard.
Continue reading on Wallet Hacks …