California Boat Loans – Tinigard http://tinigard.info/ Sun, 09 Jan 2022 03:13:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://tinigard.info/wp-content/uploads/2021/05/default1-150x150.png California Boat Loans – Tinigard http://tinigard.info/ 32 32 Deducting mortgage interest can be complicated. Here’s what you need to know for tax season 2022 https://tinigard.info/deducting-mortgage-interest-can-be-complicated-heres-what-you-need-to-know-for-tax-season-2022/ Sat, 08 Jan 2022 23:00:00 +0000 https://tinigard.info/deducting-mortgage-interest-can-be-complicated-heres-what-you-need-to-know-for-tax-season-2022/ Buying a home has never been more expensive, but if you can find one that you can afford, there’s good news after you move in: You may be able to take advantage of the mortgage interest deduction. to reduce your tax bill. However, the IRS rules regarding mortgage interest deduction can be very complicated. As […]]]>

Buying a home has never been more expensive, but if you can find one that you can afford, there’s good news after you move in: You may be able to take advantage of the mortgage interest deduction. to reduce your tax bill.

However, the IRS rules regarding mortgage interest deduction can be very complicated. As you contemplate tax season, here’s a guide to help you understand what interest is eligible for the deduction and how you can benefit from it if you qualify.

What is the mortgage interest deduction?

If you have a home loan, mortgage interest deduction can allow you to reduce your taxable income by the amount of interest paid on the loan during the year, as well as other expenses such as mortgage insurance premiums. and points.

The deduction only applies to the interest on your mortgage, not the principal, and to claim it you must itemize your deductions. You can use the mortgage interest deduction calculator on Bankrate.com for an estimate of the kind of savings you can expect when filing your taxes.

Mortgage interest deduction has been around for over 100 years, but has evolved over time. Different administrations have changed the rules for this benefit, and former President Donald Trump’s tax reform has affected who can benefit from it.

Mortgage interest deduction limit

If your home was purchased before December 16, 2017, you can deduct mortgage interest paid on your first million dollars in mortgage debt ($ 500,000 if you’re married and filing separately).

For mortgages taken out since that date, you can only deduct interest on the first $ 750,000 ($ 375,000 if you’re married and filing separately). Note that if you were under contract before December 15, 2017 and the mortgage loan was closed before April 1, 2018, your mortgage loan is deemed to have been contracted before December 16, 2017.

Mortgage interest deduction for your 2021 tax return

While almost all homeowners are eligible for the mortgage interest tax deduction, you can only claim it if you itemize your deductions on your federal income tax return by completing a Schedule A with Form 1040 or equivalent.

For this reason, you will need to decide whether it is better to deduct mortgage interest by itemizing or taking the standard deduction. The standard deduction for the 2021 tax year is $ 12,550 for single tax filers and $ 25,100 for married taxpayers filing jointly. For the 2022 tax year, these amounts are $ 12,950 for single tax filers and $ 25,900 for married spouses.

Let’s say you are a single homeowner who spent $ 18,000 on mortgage interest in 2021. It would make sense in this scenario to itemize your deductions because you are reducing your taxable income by a larger amount than if you had to take the standard deduction. .

If you aren’t sure what the best course of action is, consult a tax professional to help you understand the best decision for your financial situation.

What constitutes mortgage interest?

The general IRS definition of “mortgage interest” is the interest that accrues on any loan secured by your primary residence or second home. Other costs and charges may also be included in the mortgage interest deduction. Here is an overview:

Any interest in your home: The property must include facilities for sleeping, cooking and eating and may be a house, condo, co-op, mobile home, boat or recreational vehicle.

Interest on a second home that you don’t rent: If you are renting the property during a certain time of the year, you will need to adhere to certain guidelines (in particular, use it for your own use longer than 14 days or more than 10% of the rental time, whichever is longer) to deduct interest. Be sure to inquire about other tax deductions for rental property.

Most mortgage loan insurance premiums: For the 2020 tax year, if your Adjusted Gross Income (AGI) is greater than $ 109,000 as a married couple or $ 54,500 if you are filing individually, you cannot deduct mortgage insurance charges.

Late payment fees: If you are late on a payment, you can probably deduct the additional fees charged to you.

Penalties for early repayment: If you are charged a penalty fee for prepaying your mortgage, you can deduct this amount.

Points: If you paid points to reduce your mortgage interest rate, you can deduct a portion that applies to the individual reporting year.

Home equity loans and home equity lines of credit used to improve your home: If you took out a Home Equity Line of Credit (HELOC) or Home Equity Loan to pay for a home improvement project, you can deduct interest on the amount you used to modernize your property.

What is not deductible?

– Interest on a mortgage for a third or fourth house

– Any interest on a reverse mortgage

– Home insurance

– Expertise fees

– Notary fees

– Closing costs or down payment

– Additional payments made on the principal

– Home equity loan funds or HELOC funds used for purposes unrelated to your property (for example, if you borrowed against your home to pay for a wedding, these funds are not deductible)

Special considerations for deducting mortgage interest

When you review the IRS’s guide to mortgage interest deduction, you will notice a lot of language that details exceptions in certain situations. Below is a partial list of these special considerations. If you have a unique circumstance, check the most recent IRS publication 936 on irs.gov or seek advice from a tax professional.

Home office complications: If you are using part of your property for a home office, you will need to calculate the specific square footage used for living versus work. The “inhabitant” space is the only part that qualifies for a mortgage interest deduction.

House under construction: If you are building a house, you have a 24 month period that qualifies under the mortgage interest deduction guidelines.

Home sales: If you sold your home last year, you can still deduct the interest accrued on the loan up to the date of sale, but not included.

Pay points when refinancing: If you refinanced your mortgage in 2021 and paid points to reduce the rate, you probably won’t be able to fully deduct the cost of those points. Instead, you may be able to deduct some of those points over the life of the new loan.

How to claim mortgage interest deduction

Step 1: Watch for communications from your lender or manager in early 2022. You don’t have to track the amount of interest you pay; your lender or agent will do this and send you Form 1098. This should arrive in late January or early February, and should also include mortgage insurance premiums and any prepaid interest.

2nd step: Do the math. You will need to determine whether the breakdown of your deductions (your mortgage interest charges and any other eligible deductions) will give you more than the standard deduction.

Step 3: Give your Form 1098 to your tax professional or complete Schedule A of Form 1040 yourself. All reported mortgage interest will be entered on line 8a, any unreported interest will appear on line 8b and mortgage loan insurance premiums will appear. on line 8d.

Benefits of deducting mortgage interest

The main advantage of deducting mortgage interest is that it can reduce the total taxes you pay. Let’s say you paid $ 10,000 in mortgage interest and you are in the 32% tax bracket. You reduce your tax bill by $ 3,200 after subtracting the $ 10,000 deduction from your income.

“Those in the higher tax brackets will benefit the most because they will see larger deductions,” notes Kelly Crane, president and chief investment officer of St. Helena-based Napa Valley Wealth Management, in California.

In fact, lower income taxpayers get fewer benefits overall, says Andrew Latham, certified personal finance advisor and editor at SuperMoney in Santa Ana, California.

“Taxpayers who earn less than $ 100,000 actually only receive 11% of the benefits of this deduction,” Latham said, citing a 2019 Tax Foundation report. “In contrast, taxpayers who earn $ 200,000 or more per year get a larger benefit – 60% of the total savings from deducting mortgage interest.”


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Powerball Lottery Winning Ticket Sold in Bismarck, North Dakota https://tinigard.info/powerball-lottery-winning-ticket-sold-in-bismarck-north-dakota/ Thu, 06 Jan 2022 21:26:48 +0000 https://tinigard.info/powerball-lottery-winning-ticket-sold-in-bismarck-north-dakota/ The winning numbers for the Powerball lottery from Wednesday night’s draw are 6-14-25-33-46 with a Powerball of 17. The most recent Powerball lottery jackpot was $ 632,600,000 until we had some big winners on Wednesday night. Have you heard the news? One of those winning tickets was sold locally! A Powerball lottery winner bought his […]]]>

The winning numbers for the Powerball lottery from Wednesday night’s draw are 6-14-25-33-46 with a Powerball of 17.

The most recent Powerball lottery jackpot was $ 632,600,000 until we had some big winners on Wednesday night. Have you heard the news? One of those winning tickets was sold locally!

A Powerball lottery winner bought his ticket right here in Bismarck.

According to KFYR-TV, a winning Powerball lottery ticket was sold at the Horizon Market in Bismarck. And, while our local winner didn’t win more than half a billion dollars, he still won $ 100,000. Powerball is now down to $ 20 million.

There is still a chance to win hundreds of millions this week!

The North Dakota MegaMillions Lottery Jackpot is also quite big this week. And tomorrow there will be a draw where someone could win $ 278 million, which is a cash payout of $ 193 million.

How would you spend your money if you won the lottery?

I was hoping the president would give in to pressure from Elizabeth Warren and Charles Schumer to write off $ 50,000 in student loan debt. And, even though the reinstatement of payment has been pushed back another five months, it still doesn’t look like we’ll ever get a loan forgiveness. So even if I did win a small jackpot, the first thing I would do would be to pay off my student loans. Then I would live fun and without fantasy afterwards! Wouldn’t it be nice if I didn’t have any debt other than my car?

KEEP READING: Here Are The Best Places to Retire in America


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Obituary of Peter Holmes (1927 – 2021) – Fresno, CA https://tinigard.info/obituary-of-peter-holmes-1927-2021-fresno-ca/ Tue, 04 Jan 2022 12:54:11 +0000 https://tinigard.info/obituary-of-peter-holmes-1927-2021-fresno-ca/ Peter Holmes November 7, 1927 – November 16, 2021 Fresno, California – Peter Neil Macleod Holmes, 94, died on November 16, 2021 at his home in Fresno, California. He was born in Los Angeles, California on November 7, 1927, the son of John Cecil and Mary (Macleod) Holmes. He married Jeanne Marie (Farrior) on September […]]]>
Peter Holmes
November 7, 1927 – November 16, 2021
Fresno, California – Peter Neil Macleod Holmes, 94, died on November 16, 2021 at his home in Fresno, California. He was born in Los Angeles, California on November 7, 1927, the son of John Cecil and Mary (Macleod) Holmes. He married Jeanne Marie (Farrior) on September 16, 1953 in Fresno. Peter was born and raised in Westwood and spent his youth going to the beach in Santa Monica. He was a WWII veteran, having enlisted in the Marine Corps with several friends in 1945. He spent his two years primarily on Mare Island and Hunters Point as a military police officer. He spoke fondly of his time in the Corps and was discharged as a corporal. After his service, he attended Pierce Junior College in the San Fernando Valley and became interested in agriculture. While at Pierce, Fresno State hosted an agricultural school and he was invited to join the program. Since they would accept all of his earned units, he gladly accepted. He graduated in animal science and after graduation he managed the school’s dairy. He later got into grain brokerage and then into agricultural loans. He established his own business, Peter M. Holmes Co., Inc., specializing in agricultural real estate loans, in 1979.
Jeanne and Peter loved to travel and as Jeanne was a travel agent they were able to visit places all over the world including sailing trips with friends to the Adriatic Sea and the Greek Islands. He often spoke of his time with Jeanne and other friends from Fresno traveling to Europe for several months shortly after their wedding. They skied and attended the Winter Olympics in Cortina, Italy. Peter enjoyed taking annual trips to Santa Cruz with the whole family, skiing regularly until he was 80, and playing tennis with friends. He was a pioneer of football in Fresno, although he never played, and organized the Malloch Soccer Club. He was involved early in the San Joaquin Valley Ag Lenders Society and more recently in the “Young” Executives Club. He enjoyed reading and gardening and had a large circle of friends.
Peter was predeceased by his wife, Jeanne, his older brother, John Cecil Holmes, Jr., and his younger sister, Mary Jane (Jill) Leach. His loyal companion and four-legged best friend Lexington, a golden lab trained by guide dogs, died last year. He is survived by his three children, Kathy Beechinor (Jim), Peter Holmes, Jr. (Chris) and Andrew Holmes (Kate), thirteen grandchildren and seven great grandchildren. He loved to attend his grandchildren’s activities and will be missed by everyone. A private family service will take place.
Donations to an association of your choice or to Guide Dogs for the Blind, www.chiensguides.com.

Posted by Fresno Bee on Jan 9, 2022.


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new museum openings for 2022 https://tinigard.info/new-museum-openings-for-2022/ Sat, 01 Jan 2022 09:32:30 +0000 https://tinigard.info/new-museum-openings-for-2022/ Nasjonal Museum Oslo, Norway Opening on June 11, cost $ 670 million New from Norway Nasjonal Museum is gigantic in every way, from its size to its budget. The largest museum in the Nordic region brings together the collections of three major Norwegian institutions – the National Gallery, the Museum of Contemporary Art and the […]]]>

Nasjonal Museum

Oslo, Norway

Opening on June 11, cost $ 670 million

New from Norway Nasjonal Museum is gigantic in every way, from its size to its budget. The largest museum in the Nordic region brings together the collections of three major Norwegian institutions – the National Gallery, the Museum of Contemporary Art and the Museum of Decorative Arts and Design – under one roof. The new building designed by German architects Kleihues + Schuwerk cost 6.1 billion crowns ($ 670 million) and is fully funded by the state.

More than 5,000 works, dating from Antiquity to the present day, will be exhibited in a permanent collection of more than 80 rooms and two floors. Important pieces housed in the new museum include Edvard Munch’s The Scream (1893); a self-portrait painted by Vincent van Gogh at the Saint-Rémy-de-Provence asylum in 1889; and Harald Sohlberg Winter night in the mountains (1914), who was elected Norway’s national painting.

The Light Hall, a 2400 m² illuminated rooftop for temporary exhibitions, is a highlight of the new building. Its opening show will be dedicated to Norwegian contemporary art, with more than 150 artists and artist collectives.

The Nasjonalmuseet is part of the FutureBuilt program which aims to develop carbon neutral urban areas in Norway. According to a project statement, the museum has “high environmental ambitions” and is designed to reduce greenhouse gas emissions by at least 50%, while a heat pump using sea water will be used for cooling. The entire facade is covered with Norwegian slate.

The great Egyptian museum of Giza Khaled Desouki / AFP via Getty Images

Great Egyptian Museum

Giza, Egypt

Opening at the end of 2022, costs over $ 1 billion

the Great Egyptian Museum (GEM) is finally on the verge of completion and is slated to open in November, 20 years after former President Hosni Mubarak laid the foundation stone. The cost of the new museum, designed by Dublin architects Heneghan Peng, is estimated at more than $ 1 billion. Much of the funding comes from Japanese government loans.

With nearly 500,000 m², the GEM is the size of a large airport terminal. The sprawling site near the Pyramids of Giza will house 100,000 Egyptian artefacts, presented in chronological order from prehistoric times to the Greco-Roman period. Among the larger objects are an 11 m high, 75 ton red granite statue of Ramses the Great in the atrium and a 45 m long wooden “solar boat” which was excavated in 1954 at the base. of the great pyramid of Cheops. But for many visitors, the biggest draw will be the collection of 5,000 relics from Tutankhamun’s tomb, transferred from the Egyptian Historical Museum in central Cairo and exhibited in its entirety for the first time.

Artist’s impression of the Sydney Modern extension of the Art Gallery of New South Wales Render: Kazuyo Sejima and Ryue Nishizawa / SANAA; © Art Gallery of New South Wales

Art Gallery of New South Wales

Sydney, Australia

Opening at the end of 2022, cost 247 million dollars

Known as Sydney Modern, the expanding Art Gallery of New South Wales showcases a new, airy glass-fronted building designed by Tokyo-based architecture firm Sanaa above a pair of disused WWII oil tanks. This will connect to the existing neoclassical sandstone gallery via a public art garden which will be accessible 24 hours a day, with a view of Sydney Harbor. The design, including green roofs, solar panels and rainwater harvesting, achieved Australia’s highest rating for environmentally friendly buildings.

The transformation will create 16,000 m² of exhibition space, almost doubling the current footprint, and is expected to increase the number of visitors to over two million per year. A complete overhaul of the collection will give works by Aboriginal and Torres Strait Islander artists pride of place in a dedicated space near the entrance and throughout the gallery’s exhibits. One of the old oil reservoirs will be transformed into a cavernous underground gallery for special exhibitions and performances.

Sydney Modern is supported by A $ 244 million ($ 175 million) from the State Government of New South Wales and over A $ 100 million ($ 72 million) in philanthropic support.

Cluny Museum in Paris © Muchel Denancé

Cluny Museum

Paris, France

Opening spring, cost 21.5 million euros

The seven-year renovation of the Cluny Museum in Paris, the French national museum of the Middle Ages, will soon be completed. The work took place in stages, starting with the restoration of a Gothic chapel and the ruins of old Gallo-Roman thermal baths in the park. In 2018, a new reception building designed by Bernard Desmoulin was inaugurated, while the 15th century mansion of the museum and the 19th century annex buildings were made accessible to disabled visitors.

The final phase will consist of redesigning the museum’s exhibits, which date back to the 1950s. A thematic approach will give way to a chronological arrangement. A new route will lead visitors to the Byzantine collections and the birth of Gothic art until the 16th century, including the famous Lady and the Unicorn tapestries. Five of the tapestries represent the senses of touch, taste, smell, hearing and sight while the mysterious sixth is inscribed “To my only desire”.

Other key items in the collection include stained glass windows from the Sainte-Chapelle and 13th-century statues of the Kings of Judah that were torn from the facade of Notre-Dame Cathedral during the French Revolution and only recovered in 1977.

Hong Kong Palace Museum © ROCCO Architects Design

Hong Kong Palace Museum

Hong-Kong, China

Opening July, costs $ 450 million

After the long-awaited revelation last November of the M + Museum in Hong Kong, comes the neighbor Palace Museum, dedicated to the imperial treasures of China, on loan from the Forbidden City in Beijing. The museum was announced by the Hong Kong government in December 2016, sparking controversy over the lack of prior public consultation. This is a late addition to the West Kowloon Cultural District, which spans 40 hectares of reclaimed land adjacent to Victoria Harbor. The HK $ 3.5 billion ($ 450 million) investment project is fully funded by the Hong Kong Jockey Club Charities Trust.

Designed by Hong Kong architect Rocco Yim, the building will include nine galleries of 7,800 m², as well as a 400-seat theater, educational spaces and nurseries. About 800 artefacts from the Beijing Palace Museum will make up the inaugural exhibits, including paintings, calligraphy, decorative arts and rare books. Other galleries will focus on the history of art collecting in Hong Kong and interactive experiences for children. The first in a series of international partnerships, an exhibition on horses will juxtapose ancient Chinese art with works from the Louvre in Paris.

Artist’s impression of the refurbished Burrell Collection in Glasgow John McAslan + Partners

Burrell Collection

Glasgow, United Kingdom

Opening March, costs £ 68million

Home to 9,000 works of art donated to the city of Glasgow by shipping magnate William Burrell, the Burrell Collection will reopen in the spring after more than five years of closure. Its namesake has amassed a rich collection of medieval and early Renaissance art from Northern Europe, with stained glass windows, armor and over 200 tapestries; Chinese ceramics, bronzes and jade; and 19th century French art, including pastels, drawings and oils by Edgar Degas. The museum, located in the woods and gardens of Pollok Country Park, was opened by Queen Elizabeth II in 1983.

Architects John McAslan + Partners led a major renovation of the 1970s listed building, creating 35% more gallery space and adding a new entrance and learning center. The renovated building is also more environmentally friendly, following repairs to the chronically leaking roof and the installation of new heating, ventilation and lighting systems. A comprehensive re-exhibition of Burrell’s collection promises works that haven’t been seen in decades and immersive, family-friendly exhibits designed to appeal to those under the age of five.

On the horizon

Prague’s former Zenger electrical substation will open on February 22 as Prague Kunsthalle, a non-profit exhibition space supported by the family foundation of Petr and Pavlína Pudil. The program of modern and contemporary Czech and international art begins with a performance paying homage to the building’s original function from the 1930s, Kinetismus: 100 years of art and electricity.

the Platform 10 the arts district of the Swiss city of Lausanne will end on June 18 with the inauguration of a new building housing the Élysée Museum, a leading photography museum, and the mudac, dedicated to contemporary design and applied arts.

the Fotografiska chain of photography museums in Stockholm, New York and Tallinn expands to Berlin and Shanghai in the second half of 2022. Fotografiska Berlin renovates the Kunsthaus Tacheles, a former Nazi Party department store and office that was saved from demolition in the 1990s by artist squatters. Fotografiska Shanghai takes over a former warehouse in the waterfront district of Suzhou Creek. Another new space is slated to open in Miami in 2023.

The new building of the Orange County Museum of Art in Costa Mesa, Calif., will open on October 8 with free entry for the next ten years, sponsored by Lugano Diamonds. Its inaugural shows will be the 2022 California Biennale and an investigation spanning the entire career of Light and Space sculptor Fred Eversley.

The Albright-Knox Art Gallery in Buffalo, New York, will reopen in late 2022 as Buffalo AKG Museum of Art after a $ 160 million campus expansion designed by OMA Architects Shohei Shigematsu. New additions include the 2,800 m² Gundlach Building, an educational wing, and collection galleries dedicated to the works of Clyfford Still and Marisol.

Manchester Museum, which is part of the University of Manchester, will complete construction of its £ 13.5million extension at the end of 2022, unveiling a new exhibition hall and galleries for Chinese and South Asian culture. The latter is organized in partnership with the British Museum and members of the South Asian diaspora community.

Founded by Indian businessman and collector Abhishek Poddar, the Museum of Art and Photography (MAP) will open in Bengaluru at the end of 2022. Its collection includes more than 18,000 works donated by Poddar, spanning paintings, photographs, textiles, graphic arts and sculpture from the 10th century to the present day.


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Talonvest arranges $ 112 million self-storage loans https://tinigard.info/talonvest-arranges-112-million-self-storage-loans/ Mon, 27 Dec 2021 19:07:19 +0000 https://tinigard.info/talonvest-arranges-112-million-self-storage-loans/ 2340 Maritime Drive, Elk Grove. Image courtesy of Talonvest Talonvest has helped structure a total of $ 111.5 million in ongoing financing on behalf of several self-storage clients. The company arranged four separate loans for a portfolio of six properties and three additional facilities in Chicago, Texas and Illinois. The William Warren Co. closed the […]]]>

2340 Maritime Drive, Elk Grove. Image courtesy of Talonvest

Talonvest has helped structure a total of $ 111.5 million in ongoing financing on behalf of several self-storage clients. The company arranged four separate loans for a portfolio of six properties and three additional facilities in Chicago, Texas and Illinois.

The William Warren Co. closed the largest financing deal, totaling $ 60 million for a set of six properties in California, Texas and Nevada. The seven year loan has five years of interest payments only. Assets total 542,483 net rentable square feet and include a 73,128 square foot facility at 2340 Maritime Drive in Elk Grove, California. The property built in 2002 is operated under the Company’s StorQuest brand. Storage spaces include air-conditioned units and vary between 12 and 300 square feet.

A private investor received a $ 34 million refinance loan with 10 years of interest-only payments. The financing has been secured for a 143,409 net rentable square foot storage facility in Richmond, California. The property located at 321 Canal Blvd. offers 1,114 non-air-conditioned units and 468 air-conditioned units. Storage spaces include 224 car access units.

1864 Independence Drive, New Braunfels, Texas. Image courtesy of Talonvest

The Jenkins organization obtained a refinancing of $ 10 million over 10 years. The Full Term Fixed Rate Loan is for a facility located at 1864 Independence Drive in New Braunfels, Texas. Built in 2017, the property offers 80,555 net rentable square feet spread over three two-story buildings. The establishment has 584 units. Storage spaces include air-conditioned options and vary between 25 and 300 square feet.

Chicago Capital Funds received a $ 7.5 million loan for a facility in Elmhurst, Illinois. The 10-year non-recourse refinancing includes an interest-only payment period. According to Yardi Matrix, the facility is a three-story building at 877 IL-83. The property offers air-conditioned and non-air conditioned units ranging from 25 to 350 square feet and includes parking spaces for RVs and boats. The establishment operates under the U-Stor-It flag.

A safe investment

Despite declining for three consecutive months, street self-storage prices remained stable through November, according to a recent report from Yardi Matrix. The national average rent for 10 × 10 non-air conditioned units increased 6.7% year over year, reaching $ 127. The figure was down $ 1 from the previous month. Meanwhile, prices for 10 × 10 air-conditioned units rose 8.2% year-on-year to $ 145, down $ 1 from the previous month.

Development activity kept pace with demand, despite rising construction material costs. The November pipeline represented 8.8% of existing inventory, marking a 20 basis point month-over-month increase.

Given the persistent shortage of building materials, some big names in the sector prefer to expand their portfolios through asset acquisitions, according to a recent article by The Wall Street Journal. The sector also attracts investors looking to hedge against inflation.

In November, a joint venture of Harrison Street and Reliant Real Estate Management LLC purchased a portfolio of 26 properties in six states. The acquisition was the largest portfolio transaction in Harrison Street history. The company has invested a total of $ 2.3 billion in self storage properties to date.


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When should you take out a second mortgage? https://tinigard.info/when-should-you-take-out-a-second-mortgage/ Mon, 27 Dec 2021 11:30:00 +0000 https://tinigard.info/when-should-you-take-out-a-second-mortgage/ Editorial independence We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information see How we make money. The phrase itself might be a bit confusing: a “second mortgage?” If […]]]>

We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information see How we make money.

The phrase itself might be a bit confusing: a “second mortgage?” If you already have one loan, why would you want a second one?

Well, second mortgages, also known as home equity loans, can be a low cost form of debt that helps you meet other financial goals. And in an age of historically low interest rates and home equity rising rapidly, it may be worth considering what a second mortgage can do for you.

What is a second mortgage and how does it work?

When people use the term “second mortgage,” they are generally referring to a home equity loan or a home equity line of credit (HELOC).

“A second mortgage is basically a loan on your property that takes a second position after your primary mortgage,” explains Matthieu stratman, senior financial advisor to the California Financial Planning Company, South Bay Planning Group.

Second mortgages, whether it’s a HELOC loan or a home equity loan, allow homeowners with enough equity in their homes to borrow against the assets. Equity is the value of your home calculated by subtracting your remaining loan amount from the total value of your home.

You can’t always borrow the full amount of your home’s value – experts typically say only up to 85% is what banks and lenders allow. For example, if your house is worth $ 400,000, the maximum amount most borrowers could take out on a loan would be $ 340,000. But if you have $ 200,000 left on your primary mortgage, you will have $ 140,000 of equity left to borrow.

Types of second mortgage

There are two main types of second mortgage: a home equity loan or a home equity line of credit (HELOC). A home equity loan allows you to borrow a sum of money at one time. Meanwhile, a HELOC works more like a credit card, allowing you to spend the balance up or down and only pay for what you use.

Here’s a more detailed breakdown of how each type of second mortgage works.

Home equity loan

A home equity loan works a lot like your primary mortgage. To qualify, you must provide the lender with all of your personal financial information. The lender will assess the value of your home and tell you how much home equity loan you qualify for. Then you can withdraw that amount of money as a lump sum, which would be repaid over a period of 20 or 30 years with interest.

One of the main advantages of home equity loans is the low interest rate, Stratman explains. Compared to credit cards and personal loans, mortgage rates are generally lower. Therefore, home equity loans can be ideally suited for home improvement projects that require an initial lump sum, but could potentially increase the value of your home down the road.

“The best way to use the equity in your home… would be to use it as something that adds future value to your property,” says Stratman.

Home equity loans are also a great tool for debt consolidation, according to Jodi Room, president of Nationwide Mortgage Bankers. If you have a fixed amount of debt in the form of student loans or credit cards, you can use the lump sum amount of a home equity loan to pay off the other debt all at once.

“This is when a home equity loan is more beneficial than a home equity line of credit,” says Hall.

However, home equity loans have some drawbacks. First of all, they add to your overall debt load, which can be risky if you don’t use it wisely or pay it off on time. You also add a second loan payment to your monthly bills. And, when you take out a home equity loan, you automatically start making payments on the entire balance, even if you don’t spend all the money right away.

HELOC

A HELOC is a form of revolving credit, much like a credit card. You would apply for a HELOC the same way you would apply for a home equity loan, and the lender would give you an upper limit on how much you can spend. Your credit limit will likely be 85% or less of your home’s value. Lenders take your credit history and factors such as income into account when assigning your limit.

During the “Draw Period” you can spend up to your limit. When the drawdown period is over, you must then start repaying the amount you used.

“A home equity line of credit is really good if you want the ability to access it, but you might not know when you’ll need it,” Stratman says.

HELOCs can be useful if you need to fix an emergency roof leak, for example. But they can also be a good tool for larger, planned home renovations.

“Home equity lines of credit are positive when you’re doing, say, a renovation, where you may need different amounts of money throughout the process,” says Hall.

But be careful not to treat a HELOC like a credit card too much, Stratman warns. The money should be used for productive investments that potentially earns more than what you pay in interest.

Hall agrees: “I would warn people [against] use home equity for their current expenses, ”she says.

Second mortgage vs refinancing

Home refinancing is another common method of managing large expenses or strengthening your financial base. Second mortgages are not the same as refinancing. They can both help you save interest in two different ways.

Refinancing is basically restarting your primary mortgage, often with a lower interest rate or better terms. In contrast, you only save on interest with a second mortgage through arbitrage, which means you use the money borrowed from the second mortgage to pay off high interest debt or buy something that you would otherwise have used a mortgage for. high interest credit card.

Sometimes you can go for a cash refinance, where you take advantage of new equity in your home and get a lump sum by raising your mortgage closer to its original amount.

“If you have an immediate need for cash today, that cash refinance could be of use to something,” Stratman says. In addition, the interest rates on a refinance with withdrawal, because it is your primary mortgage, are generally lower than the interest rates on a second mortgage.

Refinancing can be more complex than a second mortgage and typically has higher upfront costs.

Here’s how to compare the differences:

Advantages and disadvantages of a second mortgage

Second mortgages can be used for many different purposes, but there are also some risks and drawbacks that you should be aware of.

Advantages

  • Lower interest rates than other forms of debt, such as credit cards or personal loans

  • Can allow you to invest in your home and create more long-term value

  • HELOCs are flexible and you only pay for what you use

The inconvenients

  • Adds to your overall debt amount

  • Add another loan payment to your monthly bills

  • HELOCs, if you’re not careful, can make you live beyond your means

  • Adding a second mortgage payment can be more costly than just refiing a withdrawal from your primary mortgage.

When should you consider a second mortgage?

One of the best times to consider a second mortgage, according to Stratman, is if you are planning major home renovations. Furnishing a new kitchen or adding a new bedroom, for example, are both an investment in your home that can significantly increase its value and a solid use of your home’s equity.

You might also want to consider a home equity line of credit to prepare for unexpected housing costs. In older homes especially, leaky roofs or old heating systems can eventually lead to costly repairs. Obtaining a HELOC could give you a way to pay it off with a much lower interest rate than on a credit card or personal loan.

“It really offers peace of mind,” Hall says.

Pro tip

Second mortgages are not only useful for real estate investments, they can also be a great way to consolidate other high interest debt.

But real estate investments aren’t the only reasons to consider a second mortgage: “Debt consolidation is one way people can use it wisely,” Stratman says.

Here’s how it might work: Let’s say you have a $ 15,000 credit card balance with an 18% interest rate. You could pay off the credit card using money from a second mortgage, which would have a significantly lower interest rate, and end up saving money in the long run.

Granted, there are also scenarios where you shouldn’t be using a second mortgage, Stratman and Hall said. If you’re struggling to manage your finances because you’re living beyond your means, a second mortgage will only make the problem worse and increase your debt load. Don’t use the money for a big lifestyle purchase – say, a luxury boat or car – that you wouldn’t otherwise be able to afford.

“The bottom line is that if you access money, try to use it in the most productive way possible without the equity money funding your lifestyle. If it is used responsibly. , that can be a good idea, ”Stratman says.


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Should you buy rental property in an expensive postcode? https://tinigard.info/should-you-buy-rental-property-in-an-expensive-postcode/ Thu, 23 Dec 2021 13:00:00 +0000 https://tinigard.info/should-you-buy-rental-property-in-an-expensive-postcode/ 2021 saw the number of postal codes double with a median selling price above $ 3 million compared to 2020. As house prices continue to rise, investors wonder if targeting more expensive areas is worthwhile. worth it. Generally speaking, expensive real estate leads to higher rents, but this does not always equate to higher returns […]]]>

2021 saw the number of postal codes double with a median selling price above $ 3 million compared to 2020. As house prices continue to rise, investors wonder if targeting more expensive areas is worthwhile. worth it.

Generally speaking, expensive real estate leads to higher rents, but this does not always equate to higher returns for real estate investors. Here’s a look at some of the more expensive areas in the country and how those pricey postcodes come across as a rental investment.

The most expensive real estate in the United States

California generally holds title to the most expensive real estate in the United States, with 38 of the 50 most expensive zip codes falling within its borders. New York ranks second, holding nine of the 50 postal codes. That leaves the other 13 zip codes scattered across the country, including several locations like Medina in Washington state; Gibson Island in Maryland; and Boston.

Image source: Getty Images.

The most expensive zip code in the United States is 94027, or Atherton, California. The second most expensive is Boston’s 02199, with an average price per square foot of $ 1,800. This exclusive neighborhood of skyscrapers just down the street from Boston Common makes the rest of the city look like a bargain. For the prospect, the nearby 02118 zip code in Boston is only an average of $ 1,100 per square foot.

Fisher Island, just off Miami, is in the same boat. The average price per square foot in this tiny oasis of 33,109 is $ 2,000, while real estate just across the cut in Miami Beach, or 33,139, costs around $ 577, or nearly a quarter of the price. .

Do rental properties make sense in these postal codes?

Let’s take a look at a real-time example of the potential costs versus rental income for one of these expensive zip codes. Postal code 02199 is the second most expensive market in 2021 and is made up mostly of high-end condos. The average sale price of a 1,500 square foot two bedroom, two bathroom condo is around $ 2.7 million. With a 20% down payment and a 30-year fixed-rate mortgage at 4%, the monthly mortgage payment will be a hair’s breadth above $ 10,312.

The average rent for a comparable condo is $ 6,454, which isn’t even enough to cover the mortgage. In addition to the $ 3,858 shortfall between rent and mortgage, the landlord would also be responsible for holding costs such as property taxes, rental insurance, property management, HOA fees, and repairs. Even as a vacation rental, it’s hard to sell considering the rental rates are $ 139 per night, or $ 4,170 per month at most. In this scenario, the only way for the rental property to generate positive cash flow is if it was bought in cash, offering an annualized return of 2%, a fairly meager return considering that the same $ 2 million could possibly receive double-digit returns on the stock markett with increased diversification.

When rentals in expensive areas make sense

It is one thing if the real estate you buy is to be visited once a year as vacation property or something that you intend to retire in. It creates a scenario where you look at personal desires more than numbers. If you have a legacy in one of these exclusive areas and are just looking to generate some passive income, it might then be wise to keep the rental property.

Likewise, if you are able to buy the property for cash or want to use a 1031 exchange to avoid capital gains taxes, it could make financial sense. Additionally, if you are looking to shift some of your wealth into real estate as a hedge against inflation, or if you anticipate significant appreciation, then this investment may make sense as well.

When rentals in expensive areas don’t make sense

For the majority of real estate investors, it is very likely that owning a rental in an expensive postcode will not pay off financially. If you must hold a large mortgage like in the above scenario, the holding costs will far exceed income. In most scenarios, he won’t even pay the mortgage, let alone make a profit.

The term “dear” is relative. What may seem expensive to one investor can be a good deal for another, depending on personal income and the markets in which the investor is currently operating. costs. That’s why it’s important to calculate the numbers for each area to help you understand when and where it might make sense to you.

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genocide in Bangladesh: Bangladeshis demand recognition of the 1971 genocide from the United States https://tinigard.info/genocide-in-bangladesh-bangladeshis-demand-recognition-of-the-1971-genocide-from-the-united-states/ Sun, 19 Dec 2021 10:53:19 +0000 https://tinigard.info/genocide-in-bangladesh-bangladeshis-demand-recognition-of-the-1971-genocide-from-the-united-states/ To commemorate their 50th Victory Day, members of the Bangladeshi community in the Washington DC metro area staged a protest outside the White House on Demember 18, demanding recognition of the genocide perpetrated by the Pakistani military in 1971. They were led by Priya Saha, executive director of the US-based Minority Human Rights Congress of […]]]>
To commemorate their 50th Victory Day, members of the Bangladeshi community in the Washington DC metro area staged a protest outside the White House on Demember 18, demanding recognition of the genocide perpetrated by the Pakistani military in 1971.

They were led by Priya Saha, executive director of the US-based Minority Human Rights Congress of Bangladesh (HRCBM), and Pranesh Haldar, HRCBM metropolitan area coordinator in Washington DC. Protesters carried placards and waved slogans calling on the US Congress to hold Pakistan responsible for the “Bengali genocide”.

Saha informed the assembly that the Pakistani army killed three million Bengalis and raped around 400,000 Bengali women and girls during the 1971 genocide. This is the second largest genocide after the Holocaust and should be recognized as such by the world community.

The US administration must also sanction Pakistan and its military officers involved in the 1971 genocide under Magnitsky Law, she asked.

Pranesh Haldar demanded that the Pakistani government issue a formal apology to the government of Bangladesh for the genocide perpetrated by its military.

The Afghan community in Washington DC also supported the protests. Afghan activist Nisar Ahmed who attended the protests said Afghans stand side by side with their Bangladeshi brethren in condemning the atrocities of the Pakistani military.

HRCBM is leading efforts to educate members of the United States Congress on the atrocities perpetrated by the Pakistani military and its radical supporters on the defenseless population of Bangladesh between March 25, 1971 and December 16, 1971.

He lobbied for formal recognition of the 1971 Bengali genocide by the US Congress. It will be remembered that the United States supported the Pakistani army and that the Nixon administration of the day refused to accept the genocide.

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Hike the Pacific Crest Trail – Money Diary https://tinigard.info/hike-the-pacific-crest-trail-money-diary/ Sat, 18 Dec 2021 10:04:00 +0000 https://tinigard.info/hike-the-pacific-crest-trail-money-diary/ Occupation: Unemployed, Hike the Pacific Crest TrailIndustry: Long distance hikingAge: 24Site: Southern Washington StateSalary: Currently $ 0, I earned around $ 25,000 before I left for my hikeNet value : – $ 43,612 ($ 4,750 in an emergency fund, $ 4,100 in a Roth IRA that I opened a few years ago, $ 6,600 in […]]]>
Occupation: Unemployed, Hike the Pacific Crest Trail
Industry: Long distance hiking
Age: 24
Site: Southern Washington State
Salary: Currently $ 0, I earned around $ 25,000 before I left for my hike
Net value : – $ 43,612 ($ 4,750 in an emergency fund, $ 4,100 in a Roth IRA that I opened a few years ago, $ 6,600 in a savings fund for future hikes / “housing” (I pitched the idea of ​​#vanlife or something similar for a while, so I put some money aside for this business, although positions in the field I studied include often housing) minus $ 59,062 in student loans, which will carry over for a few more months, from my bachelor’s and master’s degrees at public universities with in- I intend to pursue a career in government state or federal government, so once these payments resume, I will follow a payment plan that qualifies me for PSLF. The thought of having such a large debt stresses me out, but so does having to pay more than I need. So I plan to put some extra funds into savings in case something changes and I can’t have my loans canceled anymore.)
Debt: $ 59,062 in student loans
Paycheck amount: $ 0
Pronouns: she she

Monthly expenses
Lodging: $ 0 (Before my hike I was fortunate enough to live with two roommates in a really crappy apartment (happy because it was probably the cheapest place I will ever stay) During the hike, other than spending a night in a motel here and there in town, i don’t have to pay rent anything! in a tent certainly has its perks.)
Spotify: $ 7, shared with my sister
Roth IRA: $ 200 (I opened this account a few years ago, but only started making monthly contributions last year)


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North Shropshire by-election news – live: Polls close to decide on Owen Paterson’s replacement https://tinigard.info/north-shropshire-by-election-news-live-polls-close-to-decide-on-owen-patersons-replacement/ Thu, 16 Dec 2021 22:38:25 +0000 https://tinigard.info/north-shropshire-by-election-news-live-polls-close-to-decide-on-owen-patersons-replacement/ ]]>


<p>North Shropshire By-Election Candidates </p>
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North Shropshire By-Election Candidates

(Getty Images)

Votes in the North Shropshire by-election tonight are counted in the contest for successor to Tory MP Owen Paterson, who resigned after breaking lobbying rules.

Polling stations closed at 10 p.m. in the West Midlands constituency which is a safe seat for the Tories.

The result is expected to be announced in the early hours of Friday morning.

Mr Paterson represented the constituency for 24 years until his resignation after Prime Minister Boris Johnson’s failed attempt to protect him from a 30-day suspension.

Mr Johnson had tried to get his party to lead a review of standardization rules for MPs after Mr Paterson was found guilty of breaking lobbying rules for two companies paying him £ 100,000 a year.

After public scrutiny, Mr. Paterson resigned and said he wanted to escape the “cruel world of politics”.

The by-election also comes after the prime minister’s authority was called into question after nearly 100 Tory rebels voted against coronavirus restrictions in his newly adopted ‘plan B’.

When asked on Wednesday whether Mr Johnson would resign if his party lost North Shropshire, the Prime Minister’s press secretary said: “We fight for every vote.”

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Vote count underway in North Shropshire

Less than an hour ago, the polling stations were closed in the North Shropshire by-election and the counting of the votes began.

The result should be announced in the early hours of tomorrow (Friday) morning.

Lamiat SabinDecember 16, 2021 10:54 PM

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In pictures: Votes are cast in the North Shropshire by-election

A sign for Conservative candidate Neil Shastri-Hurst is smashed on the floor as people vote

(Getty)

The Salopians arrive at Horeb Welsh Methodist Church to vote

(Getty)

(Getty)

Sam hancockDecember 16, 2021 12:49 PM

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It’s time to make a decision on NI protocol, DUP warns

Some Brexit news now. DUP chief Sir Jeffrey Donaldson said he would warn European Commission Vice-President Maros Sefcovic that it was time to make a decision on the Northern Ireland Protocol.

The couple are due to meet later Thursday.

In a statement ahead of the meeting, Sir Jeffrey said he would make it clear that his party’s continued participation in the Stormont Assembly is “not sustainable in the absence of action to remove the border from the sea of ‘Ireland”.

“I have shown respect and goodwill in giving space for the current talks to succeed, but unfortunately this has not been reciprocated,” he said ahead of the talks.

Sir Jeffrey continued with a warning: “If the European Union wants to protect political institutions in Northern Ireland, then they must seize this opportunity. Failure to do so will lead to the inevitable consequences that I described on September 9.

“Now is the decision time for the EU. The time to speak is now over. Things must now be brought to a critical point.

DUP leader Sir Jeffrey Donaldson

(Wikimedia Commons)

Sam hancockDecember 16, 2021 12:35 PM

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Government refuses to rule out 3.8% increase in rail fares

Transport Secretary Grant Shapps refused to raise rail fares by 3.1% when he was challenged by Labor in the Commons.

Shadow Transport Secretary Louise Haigh said such an increase would be “brutal”.

The Labor MP said: “Before a tough Christmas, people across the country are paying the price for conservative inflation.”

Shapps replied: “She’s right about inflation of course, but it’s a global post-pandemic problem, rather than specific to this country, and that’s why the Chancellor of the Exchequer announced a series of measures. , including a sharp increase in the living wage of 6.6%, even outperforming inflation. ”

Matt MathersDecember 16, 2021 12:03 PM

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Tory MPs attack Chris Whitty for ‘running the show’ with Christmas party tips

Conservative MPs attacked Chris Whitty’s call for people to cut back on Christmas holidays as a councilor “running the show” – despite no vote in the House of Commons to impose restrictions.

Former ministers Steve Brine and Steve Baker called out to the chief medical officer of health after urging the public not to mingle at festive events unless they “really matter to them.”

Our Deputy Political Editor Rob merrick to the story:

Matt MathersDecember 16, 2021 11:44 AM

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Queen cancels pre-Christmas lunch

The Queen has canceled her traditional family lunch before Christmas next week.

It is understood the move was a precaution amid the rapid spread of the new variant of Covid-19.

ITV royal correspondent Chris Ship has suggested it could endanger too many people’s Christmas preparations if it happens.

My colleague Kate ng has more details below:

Matt MathersDecember 16, 2021 11:39 AM

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PM denies announcing “unofficial” lockdown

In a clip intended for broadcasters to be published later, Boris Johnson denied that he introduced the lockdown by stealth.

He said: “What we have is the added protection of vaccines and the ability to test.

“So if you want to do something, if you want to go to an event or a party, then the right thing to do, if it’s a priority, the right thing to do is take a test and make sure than you’re being careful.

“But we’re not saying we want to undo things, we’re not locking things out, and the quickest path to normalcy is to be boosted.”

Matt MathersDecember 16, 2021 11:31 AM

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Tory North Shropshire by-election candidate admitted party reports have been released

The Conservative North Shropshire by-election candidate has admitted that reports of anti-lockdown parties in Westminster came to the door as he called for votes.

Although people are primarily concerned with local issues, they have reacted with a mixture of ‘opposites and anger’ to allegations that Tory staff have come together during the Covid shutdowns, said Neil Shastri-Hurst The temperature yesterday.

Lesley Fisher, a retired teacher who lives in Oswestry, said Boris Johnson had “lost the trust of the people”, according to the newspaper.

Meanwhile, in Whitchurch, Brian Ashley, 70, a van driver, said the Prime Minister was “a smart man” and his advisers “defeated” him.

Matt MathersDecember 16, 2021 11:27 AM

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Tory MP’s apology after ‘scandalous’ attack on Chris Whitty

Labor is asking for an apology after a Tory MP said Chief Medical Officer Chris Whitty should ‘rely’ on Boris Johnson for advice on Covid precautions over the Christmas season.

Joy Morrissey, who is a parliamentary assistant at the Justice Department, denounced after Professor Whitty said people should “deprioritize” unnecessary social gatherings, at a time when the PM insists he doesn’t not order the cancellation of the Christmas holidays.

Our political editor Andrew Woodcock reports:

Matt MathersDecember 16, 2021 11:20 AM

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Prime Minister accused of “lying to Parliament” about huge downsizing at Foreign Ministry

Boris Johnson faces new charges of lying in parliament after falsely denying the Foreign Office plans to cut staff by 10%.

Senior Conservative MP Tom Tugendhat protested the move in the House of Commons – warning that it undermined aspirations for a “global Britain” – but the PM insisted he was wrong.

“The information that has come to his ears recently is fake news,” Mr Johnson told the Foreign Affairs Committee chairman after Foreign Secretary Liz Truss whispered something to him.

Our Deputy Political Editor Rob merrick reports:

Matt MathersDecember 16, 2021 11:04 AM


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