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Apr 25, 2016    |       9 comments

More Online Savings

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Between working 2 jobs, having a family, and basically another part-time job tending to my Dad’s matters, “spare time” has been basically non-existent lately. I feel like I’m lucky, too, because I have such a supportive spouse/partner. I seriously don’t know how single parents or parents with traveling spouses (or military/deployed spouses) do it! I seriously don’t. Props to any and all of you reading here!

Anyway, due to the extreme lack of time I’ve found myself turning more and more toward online shopping. I’ve already posted about my new favorite app where I’ve been scoring cute clothes for cheap (though, warning: it’s totally addictive! It’s been okay for now because I’d already intended/budgeted for buying some new clothes before Cruise 2016, but after the cruise I may need to delete the app for awhile! It’s just too easy to shop!).

Today I’ve got another favorite online tool that has been helping me save money:  Paribus (<refer-a-friend link. If you sign up from my link we both get an extra 5% savings).

If you’re unfamiliar, Paribus is a little widget thing you install on your computer. It tracks your internet shopping (by recording e-receipts you receive from merchants for online transactions) and if you happen to purchase something that goes on sale later, they will contact the company on your behalf in order to get you a refund of the overage.

Paribus doesn’t support all merchants world-wide (I believe they’re U.S.-only right now), but they do support several big ones. I’ve received refunds from Target and Amazon for purchases I’ve made for items that have later been reduced.

My favorite part is that, after the initial set-up, it requires absolutely nothing on my part. I literally forget it even exists until I get an email from them saying that I’m getting some money back! I experienced this recently when I bought a glass canister set from Target for $24.99 as a gift (Target is my favorite for gift purchases since shipping is free and I get 5% off using my Target card). The canister set went on sale and I ended up getting back $2.34 automatically to my Target card. They contact the retailer and get them to refund you the difference through whatever means you paid (it’s online shopping, so I’m assuming this is mostly debit or credit). Getting the email about it made me think that I needed to share it because it really does work!

So how does Paribus make money as a company? Simple. Paribus takes a 25% cut from whatever your savings are on any given item. So, yeah, they take it from the customer. If something were to go on sale at a store and you take it in directly, along with receipt, you could get the price adjusted and not have to essentially pay a “commission” to anyone. You’d get the full amount back. But, to me, a 25% commission is well worth it given that, otherwise, I would likely never take the item back to get a price adjustment done. I’m just speaking for myself. But I know I’m terrible with returns. I’m sure as heck not spending precious time scouring the internet for possible sales and then taking the item (along with receipt) to the store for a price adjustment. It just wouldn’t happen. First, I’d probably never even know about the sale. Second, I just simply lack the time over a couple bucks here and there. But if Paribus wants to come in and handle all the heavy lifting for me and just give me back 75% of the savings, then I’m happy with that! Feels like “free money” to me (I know it’s not really “free” but that’s how it feels).

There you’ve got it. I give Paribus 2 thumbs up. If you use it, tell me what you think! If you’re thinking about trying it, use my referral link so you and I each save an extra 5% on the “commission” fees (ps: “commission” is my term, not theres. They call it a “success” fee. 🙂 )

 

Apr 23, 2016    |      0 comments

Profitable Rental Properties

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With home prices touching record highs, there are more families renting than owning in many parts of Britain. It’s a great time to enter the rental property market. You will never have to look for long to find your next eager tenant.

Yet, the path to take from deciding to get into the rental market, to being finally ready to receive your first rent cheque, can be a challenging one. There is a lot that you need to keep in mind making your investment, and there are plenty of things that you need to learn before you are able to successfully navigate the rental market. If you’re ready to take the plunge, what follows is a short guide.

Getting help looking for an income generating property

Many first-time home investors will attempt to bring a home listings broker in right away as they begin to look. It can be a problem having such help very early on, though, when you don’t know what exactly there is out there. Looking on your own gives you the freedom to make your own observations without having someone influence you.

If you do need guidance from a professional starting out, it should be from a well known rental agency such as AladeMaid.co.uk. If the agency sees that there is a chance that they can retain your business, they can let you in on lots of great information on what to look for to make the best of the market.

The neighborhood is more important than the home itself

When you look for a home to live in yourself, it may be very important to you that you find a neighborhood that you are able to form an emotional bond with. If it’s a rental that you’re looking to buy, though, your feelings don’t really count. People coming to rent your home won’t be looking to fall in love. They are likely to be more interested in checking off points on a list. It would be sensible if you could do the same. It’s important to focus intently on the best possible neighborhood for schools, jobs and amenities.

You also want to look out for your own interests

While you don’t want to judge rental property on personal appeal, you do want to look at a few technical points of your own. To begin, property tax levels are important. The ease with which you can obtain building permits for future home improvements are a significant point, as well. Rent levels, demand for rentals in the area and proneness to natural disaster, are all important areas to judge a neighborhood (or a city, for that matter) on.

Judge the property in a professional way

If this is your first time investing in a rental unit, you’d do well looking at flats, rather than individual homes. With a flat, you get to leave all the maintenance to the building’s managers. All you need to do is to take care of the interior.

It’s important to look for the right kind of unit. Homes suitable for families, rather than single people, are likely to be far easier to manage. Families are usually more financially stable, and are likely to pay their rent on time.

Be realistic thinking about money

It can be very hard to accurately judge how much house you can afford. It isn’t just about buying whatever property you can afford the mortgage on. There are all kinds of other costs involved in closing the deal, and you can have a very hard time predicting how reliable those rent cheques will be. The first couple of houses that you buy, it’s a very good idea to buy 75% of what you believe you can actually afford.

Be careful of a few unpredictable areas

When it comes to investing in property, there are few things that you can completely rely on. In some cases, property taxes have been known to rise very quickly, wiping out any profits planned. You also need to be prepared for eventualities involving crazy tenants who like to damage the homes that they are in. The deposit is unlikely to cover major repairs. If you tap your home insurance, you’ll find that your premiums rise dramatically.

It’s important to plan for major expenses even if it means cutting down on your profit outlook. Leaks, failed furnaces and the effects of poor construction can all catch you unawares.

Even more importantly, if you should ever want to manage your rental yourself, rather than ask a professional to do it, you’ll find that setting rules and implementing them is not for the faint of heart. You do need to turn hard-nosed businessman.

Yet, it can all work out perfectly well. As long as you go in planning conservatively, rather than optimistically, rentals are a gold mine that you can depend on to carry you through life.

Martha Rivera has been buying and flipping properties for the past few years, and thankfully, she has found she has a talent for it. Not one to keep the pie for herself, she shares some tips and insights with others online.

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