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Should I Buy A House Vs Buying An Apartment Complex

If you’ve never owned any real estate and your in the market looking at homes and apartment buildings, you make want to consider who’s going to pay for that piece of real estate.  Let’s say you’ve found a house you like and an apartment building in the same area.  The mortgage on the new house is $1500.00 and the apartment building is $1500.00. 

One person decides to buy the new house for his family.  Now, he’s the only one responsible for that piece of real estate.  So, if he loses his income, he’s going to more likely lose the house and hurt his credit.  Now the other person decided to buy the 4 family complex.  His mortgage is also $1500.00, however he decides to rent out 3 of the units for $500.00 each, which covers his mortgage.  So whether he has a regular income or not his still keeps his piece of real estate. 

Also, the second person decided to add solar panels to the property and switch everything over to electric, and increase rents to $850.00 for each unit.  He decides to pay all utilities for those three tenants.  He gains an extra $1050.00 in rental income and he still does not have to pay any of his income into this piece of real estate.  He also gets to save up to buy the house the first person lost and the tenants from the apartment complex are paying for that house to. 

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When trying to decide whether to use a credit union or a bank when applying for a credit card. There are a few factors to consider.

1.) With a credit union you are a member, or a stakeholder. With a bank you are simply a customer. Banks are for-profit institutions and their goal is to make money for the stockholders of the company. A credit union is not-for-profit entity and their goal is pass through the profits to the members. This comes in the form of added member benefits such as low fees and low rates.

2.) Its a misconstrued opinion that credit unions have limited branch and ATM locations. However, many credit unions belong to larger networks, such as the Credit Union Service Centers.

3.) Most credit unions offer credit cards just like a typical bank. What isn’t so typical are the exceptionally low APR rates they offer.

4.) Credit unions have many available ATMs, but they are also fee free! The average fee for an ATM is $2.33 and is on the rise. Now if you use your bank issued ATM card at a third party ATM, then you just doubled your fees. With a credit union ATM card, you can withdraw your own money fee free as long as it’s at a participating ATM. Even if you withdraw money from a third party, you may have to pay their fee, but most credit unions don’t charge for the transactions themselves. I’m too busy to walk into a branch office every time I want to withdraw some money, and I feel that I shouldn’t have to pay hefty fees when I do.

5.) At a credit union, credit cards, home equity loans, mortgages, auto loans, and personal loans all enjoy lower rates than you will find at a bank. At the same time, savings, checking, money market, and CD’s have higher rates. I don’t typically endorse putting any significant amount of your money into savings and CD’s as inflation tends to outpace them, however, most people feel more comfortable doing so and they might as well earn a higher rate!

Ok so I just wanted to write a blog to uplift and encourage everyone out there. As women (and men) we all deal with daily struggles and sometimes things may seem a little overwhelmming and overbearing for us to handle. Some of us have children, husbands (wives for the men reading this), jobs, pets, social lives, part time jobs, etc. the list can go on and on...all of these aspects of our lives can bring unneccessary stress or an abundance of JOY. Which one occurs stress or JOY depends on what you allow to happen in your life.

Speaking only to the women now, as women we all have an inner strength that allows us to overcome any obstacle that may cross our path. That inner strength also gives us the remarkable power and ability to by pass foolishness, yet sometimes we get caught up in foolishness and negate our ability to be greater than our circumstances. The type of foolishness I'm referring to is things that we all know don't warrant a second of our time but we still spend our precious energy, time, and efforts focusing on things that will not bring any multiplication, power, strength, or JOY to our lives.

So here's what I say, I say let's take time to think about what really matters to us, what is really important, what will help us live a joyful and fulfilled life. Once we do that let's collectively decide to focus on the things in our lives that we know will help us move forward and not backward. Part of doing this will allow all of us to see what's really important in life and what we need to focus on to move forward in our life journey.

EXERCISE

As an exercise I think that everyone men and women alike should write down the things that they know are not positive and do not bring any satisfaction or joy to them. Once that list is written out don't even look at it anymore, crumple it up and set it asside. Then write a list of all the things you want to accomplish, achieve, aspire toward in life read it out loud, make copies of it and put it up all over the house in places you will always be able to look at it, reflect on it, and expound on it. Take the other list that you crumpled up that has all of the negative things and burn it up. That's right I said burn it up, but be sure to do it in a safe place that will not cause a harmful fire to occur in your home (practice safety first). Once the negative list is burned up forget about everything you wrote on that list that doesn't bring any joy to your life and focus on the positive list you created.

CHALLENGE

I'd like to present a challenge to everyone to focus on your list of positive things for the entire week. Then post a response of what happened as a result of having a positive attitude and outlook on life.

Be Blessed in all you do and become a blessing to others!

Have a great and prosperous day!

~Tamishia Clayborn~

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