Strapped For Cash? Here’s How You Can Make Money From Your Home

There are some times in life when we can all do with a bit of extra cash to get us through till our next paycheck. But what happens when you have exhausted all of the usual options, such as bank loans and overdrafts? Well, you only have to turn to your very own home to find some more money. There are a number of ways your home can get you money when you need it. Not sure how? Here are some handy ways to make money from your home.

 

Refinance Your Property

Do you think you are now at a point where you are able to reduce your mortgage’s interest rate by 0.250% or more? If so, then it sounds like you are in a good place to refinance your property. And this can help you release a lot of cash that was tied up in your home. Once you do refinance your property, you will be saving a lot on your mortgage repayments. And this can ultimately have a lot more spare cash left over at the end of the month. If you are interested in refinancing, you can find out more on websites like www.calmtg.com/refinance/.

 

Rent Out Your Spare Room

If you have a spare bedroom in your home, you could make a nice little sum of money from renting it out. You could list it on sites like Craigslist if you are interested in finding a permanent lodger. Getting a lodger is a great way of securing a steady monthly income from the rent. But if you get someone who you don’t get on with, you may end up stuck with them! If you’d prefer not to rent your room on a permanent basis, think about using AirBnB to advertise it to holidaymakers. This way, you only have to rent it out for a few nights at times that suit you.

 

Turn Your Home Into A Movie Set

There are lots of location agencies who travel up and down the country looking for new sites and locations to shoot films and TV shows. If you are interested in offering your home, you can sign up on one of the agencies’ websites. You will get more money if your home is used for a movie rather than a TV show. But there is still plenty of money from TV programs, so don’t dismiss them just yet! Take a look at location agents’ websites for more information: www.shootfactory.co.uk/.

 

Sell Your Home’s Clutter

When was the last time you cleared out your wardrobe or cupboards? If it’s been a while, it might be worth going through one soon. You never know what you might find in there! There could be plenty of things that you can sell on eBay. If you find a lot of old belongings that are still in good quality, you may even want to hold a garage sale. You could be surprised at how much cash you make through selling your old things!

 

Real Estate Investment Strategies For The New Investor

If you have heard about the incredible financial benefits associated with real estate investing, you may eager to make your first investment. While real estate investments can be risky, they also have tremendous upside potential that may be difficult to overlook. As is the case with any other type of investments, you need to approach real estate investing strategically. These tips will help you to develop a strategy that is right for you.

Prepare Your Personal Finances

Real estate purchases are huge financial transactions. Some investors pay cash, but more commonly, real estate loans are used for investment leverage. Regardless of whether you are buying a rental home or a commercial investment property, your financial situation will be scrutinized when you apply for a loan. Your credit history, employment history, liquid assets, non-liquid assets and other factors will all be reviewed. Before you begin searching for your first property, analyze and prepare your finances so that you can present yourself in the best possible light to banks and investors. This is also a time to determine how much money you want to contribute as a down payment for your first investment.

Locate Partners

Many real estate investors get their feet wet on their own, but others will join forces with a more experienced investor for their first investment. If a partnership is an option for you, look for a dependable partner who has profound experience and who is willing to show you the ropes. Consider setting up a legal entity to purchase the property under after consulting with an attorney and an accountant.

Leverage Strategically

One of the most substantial benefits associated with real estate investing is the ability to leverage your investment with financing. However, this should be done strategically. Consider that the down payment that you make on a property will affect the monthly payment and overhead. Because of this, it also directly impacts your monthly profitability and your overall return on investment. There are many real estate financing options. Rates and terms vary based on the property type, down payment amount and other factors. Therefore, it is important to find the right financing along with the right property. These two generally are not independent factors.

Grow Your Portfolio

Some investors are satisfied with owning one investment, and they are thrilled to use the return to improve their quality of life. Others, however, want to grow their portfolios. You can continue to save money for each new purchase and down payment, or you can use equity in your existing investments to expand your portfolio over the years. For example, you may start with an investment in a few houses. After building equity in these rental properties for a few years, you may sell those properties and use the proceeds for a down payment on a small apartment complex. Over time, you can build a huge real estate portfolio with smart investments.

As is the case with any type of new investment, take time to educate yourself about real estate. Use the resources available to you, such as real estate agents, investor partners, property managers and others, to expand your knowledge. With these efforts and a solid strategy to establish and build your portfolio, you may soon be a seasoned and wealthy real estate investor.

About To Take Up a Trade? Check That You Have The Right Insurance

If you have finished all of your training and are about to step into the career path of a tradesmen, or perhaps just want to start learning a new trade, you may need to consider whether or not you have the right insurance to cover you if there are any potential accidents. Don’t take a risk and instead keep yourself out of harm’s way by finding the best insurance for you and your work.

Tradesman Insurance

If you are looking for the perfect insurance to suit your trade, you need to be able to find a no obligation insurance quote comparison for tradesmen, which will allow you to personalise your insurance so that it fully fits any vulnerabilities in your business model. When it comes to your work, your clients expect a high a standard, whether that is fixing or building parts of their home or even just working on a public community project.

However, what they underestimate is how hazardous working in this field truly is. With over 64,000 non-fatal injuries happening to trade workers each year in the UK, your policy must be tailored to suit your own needs. So be sure to go online to compare different quotes from your intended insurers. When you find one you approve of, then be sure to barter with them to see if you can gain more benefits or a cheaper cost. If you have a proven track record of keeping safe whilst on a job, then your insurer may choose to lower your insurance cost even further.

Liability Insurance Types

Whether you are a sole tradesman or work under a company, if you want to make sure that you are fully covered by your insurance, you should be looking into these three types of liability cover:

• Public Liability Insurance

This insurance is extremely useful if you are looking to protect your business from any potential claims that arise from accidental injuries that occur to a customer, or if a member of the public is in a future accident in connection with the work you undertook. Whether this is simply by slipping over your equipment or through a maintenance malfunction, this insurance can make sure that any claims against you can be taken care of without causing you a financial problem for you and your company.

• Employers’ Liability Insurance

This insurance is a legal requirement for any tradesman, due to UK law, and if you do not get it after you have started employing any additional tradesmen in your team, then you could be fined up to £2500 pounds per day. Employers Liability Insurance will protect you against any claims from your employees if they become injured or fall ill due to work. This can be onsite or off site, and even from your former employees.

• Professional Indemnity Insurance

Professional Liability Insurance will cover your business just in case your clients accuse you of damage or incorrect advice that has caused them to lose their money whilst investing in a new project. No matter what sort of accident happens, you should also keep an Accident Book to ensure that the same mistake.