Channing Tatum and wife Jenna Dewan sell $5.9M Beverly Hills home and take a huge loss

Broadimage/REX/Shutterstock

Actor Channing Tatum and actress Jenna Dewan took a $75,000 hit on their $6 million Beverly Hills home last month, accepting a $5.925 million offer on July 7.

The newly divorced couple have been trending as of late for taking a $75k loss for selling their plush home. The home was formerly owned by Carrie Fisher. Tatum 41 and Dewan 40, ended up paying $6M back in 2015 and currently have sold the California property according to New York Post.

Photo: Redfin
Photo: Redfin
Photo: Redfin
Photo: Redfin
Photo: Redfin

Although the low sales figure will hardly cause a dent in the ex-couples bank account, it is hard to say that anyone wants to take a loss on selling a home.

Tatum has recently starred in a couple late films including “The Lego Movie 2”, “Kingsman: The Golden Circle” adding to his $29 million dollar earnings for 2015.

When Tatum and Dewan first purchased the property, the home was listed as an estate with endless possibilities. With the home being built in 1949, it still has its Hamptons style look.

Rental Alert: Huge 3 bedroom 1 bathroom Condo in Riverside Paterson, NJ – 30 mins from NYC and half the price of a New York City apartment!

Located 30 minutes away from NYC driving. This condo is a large open space with 3 bedrooms and 1 bathroom. Open floor kitchen with huge island and stainless steel appliances including stove, microwave, and dishwasher. Plenty of closet space in this unit, and lots of amenities and of course your own laundry washer + dryer in your unit!

Located 30 minutes away from NYC, driving. This condo is a large open space with 3 bedrooms and 1 bathroom. Open floor kitchen with huge island and stainless steel appliances including stove, microwave, and dishwasher. Plenty of closet space in this unit, and lots of amenities and of course your own laundry washer + dryer in your unit! This condo is Minutes from NJ train, bus, Trader Joe’s, plenty of colleges,and also the Great Falls National Historic park. With signing you are entitled to a parking lot, Entertainment room with ping pong tables, pool tables, and treadmills/fitness equipment.

Advertisements

Upon signing lease you are given key remote to open secure gate to parking lot. Building has security cameras throughout complex. There’s is also a community room to throw pre-scheduled birthday party’s. First months and last month’s rent. No security deposit. Tenant pays electric and gas. Rental price $2100. Virtual tour here.

Advertisements

Real Estate Investing vs. The Stock Market| How to Make $500 in Passive Income Per Month

Learn How to Make $500 in Passive Income Per Month

 

Advertisements

When it comes to finance, I started off my career investing in stocks, following the portfolios of some of the best stock investors of all time. Investors such as Warren Buffet, Charlie Munger, and Peter Lynch. I put everything i had in my savings into stocks. Every check I made, I put 50%- 75% of that into my investment account. After a year of buying tech stocks, retail stocks, and bank stocks, my portfolio grew about 12%. In total, I was able to save about $10k… The big idea was, if I save about $50k into one or a couple different stocks, I could potentially make $500 a month off of dividend income. But here’s some of pros and cons of making that decision.

Advertisements

Photo by Skitterphoto on Pexels.com

Pros and Cons of Investing $50k in Real Estate for Dividend Income

Pros Cons

1. Stocks are Extremely Liquid. Meaning you are able to sell you stocks immediately if you were in a sticky situation. However, in my opinion the best investor is a buy and hold investor.
1. Most dividends do not come monthly, them come quarterly. Which means every 4 months you’ll get to your dividend payout. 
2. If the price of your stock goes up you earn money. So if you invested $50K and the stock price goes up 6% than you make $3k totaling $53K. However, if it goes down you lose 6% or more.
2. To save up $50k, think about how much time that would take. A couple of years, realistically speaking. By that time you could’ve made a number of different investment.

3. You can reinvest your dividends to earn you more money. This method is called compounding, where you’re money is doubling over the years.

3. You may lose money big time, if the stock market goes down. Look back at the 2008 crash, everyone lost money, houses, and jobs.
Advertisements

Referring back to this chart, there are companies that will continue to appreciate in price. But what will go up, may go down (click the link for examples). There are also companies that do pay monthly dividends. But if you were put $50k into one or two different stocks, how do we know how stable that stock is? Do you want to put your money at risk? If you’re a low risk investor, that would be the smartest decision. So I thought to myself what if I bought a condominium, and rented it out after a year of living in it? How much would I have to spend out of pocket to buy it?

Photo by Pixabay on Pexels.com
Advertisements
Advertisements

To answer that question. Using the purchase price of $100k, the down payment and closing costs would come out to $9k. Let’s fast forward a year from after i bought my property.. The time has come for me to move on, and now i want to rent my unit out. I could potentially make $500 monthly, i would just have to rent out the unit for 30%-50% more than the actual cost of my mortgage payments but that is doable if you bought the property at a good price. On top of the monthly cash flow, you can ask for first months rent or last months rent. During the 2008 recession, one of the most stable investments were rental properties. The best part about real estate is that its in constant demand. Somebody’s always looking for a place to rent, just do your due diligence when you do choose your tenant. The most important part about investment properties is the guaranteed monthly rent check. While other investments such as commercial properties during a recession might be a lot more risky, a rental property still brings in a steady flow of passive income.

Is It A Good Time To Purchase A Home Today in America?! To Buy Or Not To Buy That Is The Question.

Implications like these tell us that a Buyer’s markets, within the next couple of months, could possibly be coming. Inventory may come on the market at much more accurate prices. The people who will benefit from this, will be essential workers, who have strong cash reserves on hand

Advertisements

undefined De-listings are up way over 100 Percent this quarter, that is the highest it has been in history today so what does this mean to us Real Estate Investors and Home Buyers. The corona-virus has put a wrench in this years real estate market —but don’t expect buyers to lower their prices. Today’s Sellers are simply not giving in to the temptation to lowers prices accordingly. Along with the Sellers making it hard for buyers, Lenders are also making it harder to close new loans even though rates are low, staff are laid off or working from home, and the Covid-19 environment makes things like getting inspections and appraisals much more difficult.

Advertisements

Implications like these tell us that a Buyer’s markets, within the next couple of months, could possibly be coming. Inventory may come on the market at much more accurate prices. The people who will benefit from this, will be essential workers, who have strong cash reserves on hand. Potentially you may actually have less competition and a more level playing field when it comes to offers and closing cost concessions, because showings are – No pun intended- virtually limited.

Key Takeaways

  • It’s a Great time to buy if you’re not at risk of being laid off
  • You have an ample amount of cash reserves to use as a safety net
  • Get a Number or Price you can work with, Negotiate the price down

Advertisements

The work from home experiment has proven to workout for the economy, this means that the demand for homes with office space will be up. So when scouring the market for a home be sure to add extra space/ home office as a requirement to the menu.  Evidently the big winners will be home-buyers who have patience, however if you can get a discounted deal in today’s market with a low interest then your in the game.

90 Percent of Millionaires become so through owning real estate

– Andrew Carnegie

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. 

Advertisements

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.” 

Advertisements

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

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
Advertisements

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.

Advertisements

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

Advertisements

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

Advertisements
Advertisements