MoneyWisdom Blog

Will investing in a condo help cut college costs?

Posted by Hanscom Federal Credit Union on Sep 16, 2016 7:00:00 AM

 

With the cost of college room and board rising through the proverbial roof, some parents consider an alternative to cramped on-campus housing: investing in a condo or house for their child to live in while at school. And it’s no wonder. With room and board running over $1,200 per month, putting that money into a property you own seems like a good idea. Or is it? 

The big answer is: It depends.

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Topics: Small Business

Top Mistakes Made by Investment Property Owners

Posted by Hanscom Federal Credit Union on Aug 5, 2016 7:00:00 AM

Almost all of us have looked back at purchases and said, “Oh, if I only knew then what I know now,” thinking that the coulda-woulda-shouldas might have saved us time and money. When it comes to investment property, experienced owners have a list of coulda-woulda-shouldas. That’s why we took time to talk to the pros to ask what’s on that list. Maybe this information can keep you from making the same mistakes. 

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Topics: Small Business

Advice for the First-Time Landlord

Posted by Hanscom Federal Credit Union on Jun 15, 2016 12:39:15 PM

Considering investment property ownership? Here are a few tips.

When I left the world of running large data centers to manage properties, I thought the transition would be relatively simple. My partners for my new adventure already owned 200 residential “doors” and 140,000 square feet of commercial space so they had critical mass. Answering tenant calls, I thought, would be just like running an information technology Help Desk – something I knew how to do.But there is always room to learn, and learn I did. Over the next several years, I managed as many as 600 rental units.

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Topics: Small Business

11 Things Business Owners Should Know About Chip Cards

Posted by Phil Purcell on Sep 14, 2015 8:52:25 AM

As I’ve been shopping over the last couple of weeks, I’ve been watching how different businesses are preparing for the switch from magnetic strip credit cards to the chip cards that will be coming soon. It’s been fascinating to me.

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Topics: Small Business

Pace Your Business Loans: Here's Why

Posted by Moneywise Newsletter on Jun 29, 2015 7:34:00 AM

“Shooting for the moon” demonstrates enthusiasm in many aspects of managing a business. But when it comes to business loans, it’s important to stay grounded.

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Topics: Small Business

Pace Your Business Loans: Here's Why

Posted by Moneywise Newsletter on Jun 26, 2015 8:59:00 AM

“Shooting for the moon” demonstrates enthusiasm in many aspects of managing a business. But when it comes to business loans, it’s important to stay grounded.

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Topics: Small Business

What upfront business fees can a landlord charge?

Posted by Bill Burpeau on Oct 1, 2014 4:30:00 PM

By Phil Purcell
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Topics: Small Business

Investment Property Ownership: How much property do you need?

Posted by Bill Burpeau on Sep 10, 2014 1:08:00 AM

In the August, 2014 edition of Money Magazine is a great article entitled, "How to Reach One Million Dollars".  It presents a half dozen ways to make it to $1 million, one of which is Investment Property Ownership. Debunking the myth that "You have to be a full-time landlord to get to $1 million; it lays out the steps to get there by owning just a few rentals.

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Topics: Small Business

Investment Property Ownership - 6 Essential Tips

Posted by Bill Burpeau on Sep 3, 2014 12:00:00 PM

Here are six essential tips to help ensure that you realize the largest possible profit from your investment property: 

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Topics: Small Business

Financing an Investment Property, how do you secure it?

Posted by Bill Burpeau on Aug 27, 2014 9:00:00 AM

Now that you’ve found a property, it’s time to start looking for financing. Talk to several lenders, compare terms and rates and decide if this is someone you can comfortably work with. Yes you need to like them, but you also need to make sure they are someone who can help you understand all the issues associated with purchasing investment property. Pick someone you trust and find easy to work with.

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Topics: Small Business

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