Category: home buying

Negative Interest Rates May Be Happening – This Is What To Expect If They Do – Cheaper Loans And Higher Bank Fees

Negative interest rates are something the United States has never seen before, I repeat never have seen or done before. When rates dip below 0, there are three things that generally happens. One major effect of negative rates, is banks will have to pay you to take out a loan. This is one thing I’m looking forward to as a real estate investor, because I’m currently paying 4 percent interest on my $111,636 mortgage that I owe. Which is historically low, a couple years ago you couldn’t get an mortgage rate lower than 15 percent! However these rates are hovering around 3.38. The second effect, would be that you would be charged a fee to save your money in a bank. In the long run, I would expect people to pull all of they’re money out and invest all it. The Third effect, would result in stimulating the economy.

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Negative interest rates have been around for years, just not in America. Countries such as Japan and a few other European nations have implemented the idea but in limited form. “Negative interest rates are inevitable in the U.S.,” said Bankrate’s Greg McBride. President trump has also tweeted numerous times that he suggests some form of negative rates would benefit the United States, especially in a time like this.

With the possibility of these types of rates coming, the economy may benefit from stimulation due to a increase in lending. As a result it would become more affordable to borrow, and more expensive to save. You may see a increase in gold investing and even bitcoin being that there have been talks out creating a digital dollar in the past couple of months. It is uncertain whether this would affect the nation in a positive or negative way, because simply; this has not been done.

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Coronavirus| How to Get Mortgage Relief during the Covid-19 Epidemic

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2020 has been an interesting year nonetheless. From raising our newborn and bringing her into the new year, to dealing with a global epidemic. The real estate market has been in a frenzy, with the covid-19 preventing people from paying their mortgage payments on time. Luckily, I’ve been able to adjust accordingly to these new changes going on.

First things first, I advise you if you haven’t already put your mortgage into forbearance and get some type of relief… Do it! Millions of Americans are blowing up lenders phone lines to the point where you won’t get through and will have a hard time. You may just give up, procrastinate, and not do it at all especially since the percentage of requests to postpone mortgage payments jump nearly 2,000%.

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Fortunately after what seemed like 15 to 20 times, I was finally able to put my investment property into forbearance for 3 months. I believe in the phrase, It’s better to be safe rather than sorry and if we get passed this whole epidemic faster than we expect, then i can just take my mortgage off of forbearance. If you happen to also be putting your mortgage into forbearance, beware of rules that may come into play. Your lender may not allow to forward your mortgage payments to the end of your loan. So after your 3 months of forbearance is up, you may have to pay those missed payments in full. Put your money to the side, and be ready to pay in full. 

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Banks such as Wells Fargo, Bank of America and Chase have outright said that customers have to repay those postponed payments in a lump sum once three months are up. It all depends on who your lender is, this unexpected demand could put homeowners deeper in debt as millions are laid off and watching their retirement savings plunge with the stock market. So if you do plan to enter forbearance please be smart, and have reserves to tap into.

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After being allowed to put my mortgage into forbearance, I took advantage of current mortgage rates being super low, and I refinanced my primary residence. This drops my mortgage a little under 200 dollars, putting less pressure on my wallet. From doing this refinance, I was also granted a month void from paying mortgage. One free month, to save money  and add to my emergency fund. 

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This was definitely a win- win situation because I’m off the hook from paying my 1st mortgage, and because of the refinance I’m lowering my monthly payment and also able to skip a months payment. If you’re in this predicament where you have one or two mortgages, follow this case study and get ahead of the curve, until we flatten this curve.

Top 5 Most Affordable Places you Can Buy a House for Cheap (Close to New York City)

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  1. Newark NJ
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2. Jersey City, NJ

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3. Upstate NY Poughkeepsie

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4. Connecticut bridgeport

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5. Parkchester Bronx

Top 5 places you can buy a house for cheap, while working in NYC!

Get a free sample of my Ebook on my social media, which will go into extreme detail on how to buy real estate. Or go to the link below and get the full book

A book that helped me in journey was “rich dad poor dad” and it may help you! Link below

https://amzn.to/2shwsGi

#Howtofindahomeonzillow #homeinvestor #facebook #buildwealthwithinvestments

Coronavirus is making everyone rethink where to live|Should you as well


Owning a home in the big apple, has always been a huge dream of mine with being born and raised in lower Manhattan all of my life. What’s more convenient than living in an area that you know like the back of your hand. Your jobs are there, your friends are there, and your memories so what could possibly make me change my mind now. 

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Well with the way things are going now, living in the city that never sleeps is becoming less desirable to a large group of people. The hustle and bustle of the city has more of a negative tone than a positive one in 2020. With the Coronavirus literally destroying small businesses and other facets of life, it has also single handedly eliminated dreams of one day living in the big city. People are now gravitating towards suburban areas,stepping away from the city, and trading in their convenient commute for more green space.With the coronavirus rampant in U.S. cities and big towns many people are thinking of relocating to less crowded or even rural and country areas.

But in a post coronavirus world where dense city areas are tightly-packed New York has been the epicenter, more and more may favor the suburbs instead.

Scared of the risks they’re taking by living in a city that has been called the epicenter of the covid-19 epidemic. “Why New York? Why are we seeing this level of infection? Well, why cities across the country?” Cuomo stated in a briefing last month.

“It’s very simple,” the governor said. “It’s about density.” 

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Density is what’s making people flock to the suburbs. People are willing to just pack up and leave, but can you blame them. Cost wise it makes sense, moving just 20 miles away from the city could save you hundreds of thousands of dollars. Being that you were willing to purchase, we’re talking cheaper property taxes, lower costs of goods, and most of all you’ll definitely save on gas.

NYC Brokers are predicting housing sales will jump dramatically in Staten Island, where things are a little more spread out and less cluttered compared to the city’s real estate.

In my opinion, i do not see a change in population statistics within inner cities. If you take the attacks of Sept. 11th and the 1918 flu pandemic, the city has rebounded time and time again. Will there be more demand in suburban areas? Possibly, but don’t count New York City out just yet. 

“New York loves all of you. Black and white and brown and Asian and short and tall and gay and straight. New York loves everyone. That’s why I love New York. It always has, it always will. And at the end of the day, my friends, even if it is a long day, and this is a long day, love wins. Always. And it will win again through this virus. Thank you.”

– Governor Andrew Cuomo

John Wick: Chapter 4 gets an impressive score on Rotten Tomatoes!

The highly anticipated John Wick: Chapter 4 has received its first reviews on Rotten Tomatoes, earning a “fresh” rating and maintaining the consistent critical acclaim of the fan-favorite action franchise, which stars Keanu Reeves. The movie is set to be released widely on March 24th and will continue the story from the previous installment, where…

by Ingramuniversal.com

How to explode your credit score by 40 points

Everyone’s been through their credit card woes. Your score constantly going up and downs just because you were late on a monthly payment. It’s easy to fall off track, and let your score slide. That’s why we need to constantly keep up to date with all our credit reports, payments, and credit utilization. Having a great report can set you up for success for the future, especially with building wealth.

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1. Credit Karma/Credit Sesame

We can’t fix our credit without first knowing what our credit score is. Credit karma is a credit monitoring app, that allows you to get a rough estimate of what your credit report is. It’s not always totally accurate, but it does the job. Credit karma also shows you how much your credit score would increase if you paid down some or all of your debts. It’s a great way to start off keeping up with your credit. There’s also tools on credit karma that can check to see if you would get approved for a certain card. This could possibly boost your score up by a lot of points. Credit sesame is similar to credit Karma as to where they grade your credit card performances from A to F. When I started building credit I used both of these apps to my advantage and I checked them almost every day. Here’s a link to sign up for credit karma. You can sign up online and through their apps.

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2. Finger-hut 

Having zero credit makes it hard to get a credit card in the first place. A lot of people say “ you build credit go get a credit card it’s easy!” But…. It’s not that simple, some people weren’t lucky enough to start off with at least some type of credit. So they end up not establishing credit at all, and that’s a problem! We need credit for things like renting a house, or getting a phone, or buying a car. You need some type of credit. If you out there reading this post on credit, continuing reading you might find something useful. Luckily or me I was recommended fingerhut, a credit card company and shopping website that gives credit to those with bad credit. With a 580 credit score I was able to get a credit line of $500 to start off. This helped tremendously, because I was able to establish some credit. There’s other credit card companies that may offer you a credit line even with bad credit, you just have to go out there and search!

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3. Get up to 3 credits to establish credit 

Now that we have one credit card, we have to create multiple credit lines to have more credit history. It’s important that we keep the balances low on these credit card. You want to keep all balances and credit cards under 30 % utilization. For example if your credit line is $1000, you want your balances under $300. This will allow your credit grades to be high. For some card companies, if you have bad credit you may have to pay a deposit to open up a credit line. Don’t be afraid to do so, you end up getting your money back if you cancel you credit with them anyway.  

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4. Self 

Self helps you save move while building credit at the same time. One interesting thing that it does in particular is that it give you a different type of credit line. More like a personal loan, so you get a mix of credit which Is great because it increases your score. For one it’s good for credit newbies who have bad credit. Two your saving money with every payment you make. Three it’s roughly $9 to start. Once you pay off the personal loan, which you can choose how much you want to pay (I chose to pay $48 monthly for 12 months equaling $500), you get all your money bank. Plus they put your money in a CD so that it makes interest! This is a win win situation, if you want to sign up I highly recommend it. You can use this link to start using self! https://self.inc/refer/13277669. Using these methods will help you in your quest to a 850 credit score! If you have any more questions, leave a comment below and I’ll be sure to respond right away. I want to see you succeed in life, and why not do it together! 

Top 3 Ways To Get Rich Off The Stock Market

To build wealth we must invest. Invest intelligently, by saving, being financially smart, and mitigating risk

Research – research – research. To find winning stocks, we must research. The best way to know which stocks are going to go up in value  and make you money, are the stocks that you use everyday. Stocks like Coca Cola, Apple, Facebook. These Moats aren’t going anywhere anytime soon, but now that we’re mention it.

Our word of the day is MOAT:

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A MOAT is a company who an economic moat is a distinct advantage a company has over its competitors which allows it to protect its market share and profitability. It is often an advantage that is difficult to mimic or duplicate (brand identity, patents) and thus creates an effective barrier against competition from other firms. 
This word is made popular by none that the one and only Warren Buffett.

Let’s Dive into our 3 Ways to get rich off of the stock market!

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Number 1: Value Investing

Value investing, the old fashioned traditional way of buy and hold investing. You find a value stock that has low volatility and that’s at a great price point. Normally something that’s trading under boom value and is on Sale. —— once we buy into this stock we’re gonna buy and hold this stock and the longer we hold it the more money we make off of dividends, compounding, and growth percentage. If the market goes 10 percent for 3 years we’re pretty much making bank here. If we invest $10k and your stock goes up 10 percent each year for 3 years. At the end of that 3 year mark you would have made $13,310 a profit of $3,310

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Number 2: Options Trading

Buying an option contract gives you the right to buy or sell 100 shares of whatever stock you choose, but not the obligation, meaning you exit the contract at anytime.

Options are one of the most flexible trades you can make out there. You don’t need to have a big bank account, as long as you minimize your risks and do your research, you can profit from $50 to $100 per day. To find out more information on option trading check out one of my most recent posts in this link.

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Number 3: Dividend investing 

Dividend investing is a strategy that allows you to make income off of the stocks you own. Investing in a dividend stock, will generate a monthly or quarterly income for your portfolio. Buying Stocks with a hefty dividend can be a great investment for traders looking to make passive income, you can make even more of a profit by reinvesting dividend payments.

For example: If we buy 100 shares of GLAD at $6.16, or Gladstone capital. we would receive 7 cents per share per month. That’s $7 per month, $84 a year. Just imagine if you bought 1000 shares.

New Stimulus Bill Proposed To Cancel Rent And Mortgage Payments | Plus A Check For $2000 A Month

New Stimulus Bill Proposed To Cancel Rent And Mortgage Payments Plus A Check For $2000 A Month To Help The People.

Congress has stated that they have made two separate proposals for Americans who have been affected by the Coronavirus Epidemic. Fed discloses that they’re may be a 2nd stimulus bill that will give you $2000 a month, plus mortgage and rent will be canceled for up to one year. Introduced by representative Ilhan Omar Minnesota Democrat, under the Rent and Mortgage Cancellation Act. 

Photo by Pixabay on Pexels.com
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Today we’re getting into the 2nd proposal which would call for mortgage payments to be omitted during the covid-19 epidemic. It would focus on the following:

-Rent forgiveness in its entirety for one year.

-Mortgage payment forgiveness on your primary residence.

-There will be no accumulation of debt for renters or homeowners and no negative impact on their credit reports.

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If you have already made mortgage payments due for April 1st, you will be back paid or reimbursed, as the bill will be retroactive to March 13 2020 so you will get that month’s rent/mortgage back if this bill is passed. You will not, however, be able to use this income for more than one property. You will have to include the primary residence that you live in to receive the mortgage forgiveness.

Photo by Pixabay on Pexels.com

Landlords and mortgage companies will also be covered by the department of housing and urban development. The Development of Housing and Urban development would create a fund for landlords to be insured on the rental and mortgage payments that have been missed by tenants. “The Rent and Mortgage Cancellation Act offers the only solution that can meet scale and depth of our immediate needs to housing, and establish a new framework for long term recovery.” Ro Khanna

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Top 3 Benefits of Becoming a Real Estate Agent | Rental Property Investing | HowtobuyNYC Podcast Ep. 2

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HowtobuyNYC Podcast Episode 1.

Sponsored by Ingramuniversal.com

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Vincent Ehindero award!

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I would like to thank Tishgirl for nominating me for my first Vincent Ehindero Award. I humbly accept her nomination and always grateful that my blog inspires and encourages others to be considered for awards and for blogging awards already received..

Please check out Ritisha’s blog site @ https://ritisha.blog/. She is excellent Blogger, with amazing content to share.

We are all in this to together as writers, so it is imperative that we help one another with support and advice. You can change someone’s life just by speaking to them. I can sincerely say you all have encouraged and inspired me. I learn something new every day and it’s because of your willingness to share. Thank you!

The Rules For Award:

1. Display the blog award log in your blog.

2. Thank the blogger who nominated you and add their blog website: https://tangietwoods.blog.

3. Answer the questions they have given you.

4. Nominate 7 to 10 bloggers of your choice and inform them on one of their blog post.

5. Ask them 5 questions.

1. What inspired you to start blogging?

2.What is your favorite blog to read?

3. What are your goals?

4. Where do you see yourself 10 years from now?

5. Favorite blogging topics?

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My Nominees For the Vincent Ehindero Award are:

almagrowth@almagrowth

Nidhi@investinyourseffirst

Bull Beta@bullbeta

Kurt Stevenson | PassivelyPaid@stevenkd22

gloriaarmit@gloriaarmit

Ada@thebeautifulada

seella@seella

kindfeelings@jajawallace

Island Traveler@abubot6

Tangie T. Woods@tangietw

Kelly Curtis@kirby0311

SaaniaSparkle 🧚🏻‍♀️@saania2806

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Questions For Nominees If They Choose To Participate Are:

1. How were you inspired to start blogging?

My want and desire to teach others how to be smart with their finances. How to make investments that will eventually change their lives.

2. How do you spend time relaxing?

Being with my wife and daughter is how i spend my days relaxing, there’s no better time than the time you spend with your loved ones.

3. What country to you live in?

I live in the United States.

4. What are two of your favorite blogging topics?

My two favorite blogging topics are Real estate and Personal finance

5. What is your favorite food?

Chicken wings and Candy yams

6. How often do you blog?

Every other Day or at least once per day.

7. Are you a great cook?

Not yet haha.

Fellow bloggers, I hope this post finds everyone well and safe from the path of COVID-19.

Have a great night for some of you and good morning to others.