Since July 2003, I have been paying my rent with my credit card. I do this because it allows me to “float” for about 20 days and, more importantly, because I get a one percent discount on all credit card purchases. As of next month, they are discontinuing the allowance of credit card payments. I don’t believe they take personal checks either.
This is a big, national corporation, not some dude who rents out his apartments. I don’t understand why they are trying to make things more difficult for their tenants.
I can understand not taking checks. Perhaps they are hit with too many bounces. But with a credit card, they get the money right away. It becomes the credit card company’s responsibility to track down payments and make money off interest rates and late fees from those people who carry balances month to month and pay bills late.
I want convenience. I want to pay rent via credit card online. It’s not too much to ask.
“Get an education and buy real estate.” That was the advice given to Stan Taflaw. He is one of CNN’s Tycoons in the Making. With his high salary as a nurse and hospital administrator, and help from his rental properties and real estate sales, he’s been able to put three of his daughters through college and one through law school.
Once I settle myself into an area, I will want to get involved with real estate. This is definitely one of my drivers for making money—I don’t want any financial obstacles when it comes to education for my future children.
I could count on five pairs of hands the people who have told me that there is no way to lose when it comes to investing in real estate. The most emphatic are those individuals who for whatever reason have had very little formal education, and yet some bright people also tend to think this way. It reminds me of the 90s when everyone was gung-ho on stocks. In the “new economy,” everyone who played the game would be rich—at least on paper. This attitude has been proven wrong before; it will be proven wrong again.
All along I’ve been saying there’s as much risk, or more, investing in real estate than there is in stocks. While real estate has never gone down as a whole since the Great Depression, when you buy a house you’re not investing in real estate as a whole. Sarah Max from CNN supports my view and sees a bubble. No one knows when it will pop, and when it pops, I imagine it will pop at different times in different locations.
Be smart. Remember the three tenets of investing in real estate (or in anything): diversify, diversify, diversify.
Keep more in 2004: 8 resolutions – Dec. 24, 2003
CNN presents five tips as we head into the new year. And here they are, summarized for your quick acceptance or rejection:
Pay yourself first by saving for your retirement directly from your paycheck. If you’ve procrastinated this year, get over it. Quit smoking. Get rid of poorly performing and expensive mutual funds and stocks. Make sure you have an emergency fund that’s easily accessible (very liquid). Improve your credit score. Take deductions on your taxes if you can. Don’t forfeit your vacation time.
Cost of home ownership – Dec. 23, 2003
What many people don’t think about when espousing the value of owning vs. renting living space is the cost of regular maintenance. The article presents a nice chart stating you should be saving $21/mo to replace a roof in 10 years, $83/mo to replace windows in 15 yearsm $14/mo to replace an over in 6 years, etc. The information comes from Askthebuilder.com. Have you been budgeting for these ongoing maintenance expenses?
Ah, I hear your argument. You don’t plan to live in your house for more than 5 years before moving out and finding another? Well, you should be budgeting for ongoing maintenance anyway, because if the next house you move into has previous owners who think like you, they’ll be leaving you with materials in the house that are due to be replaced sooner than you expect… and good luck.
Fool.com: Buying the Bubble? [Commentary] September 18, 2003
The author tackles with the question of whether there is a (national) housing bubble. He feels that there isn’t, but also notes that housing is not an investment. People should avoid thinking of it as one. It doesn’t provide income and any thoughts about future movement are purely speculation.
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