Music sales – Russ Johnson Music http://russjohnsonmusic.com/ Fri, 24 Jun 2022 01:33:52 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://russjohnsonmusic.com/wp-content/uploads/2021/10/icon-7.png Music sales – Russ Johnson Music http://russjohnsonmusic.com/ 32 32 HNG: HNG developer offers Rs 1,380 cr in cash, 10% equity to lenders https://russjohnsonmusic.com/hng-hng-developer-offers-rs-1380-cr-in-cash-10-equity-to-lenders/ Fri, 24 Jun 2022 00:34:00 +0000 https://russjohnsonmusic.com/hng-hng-developer-offers-rs-1380-cr-in-cash-10-equity-to-lenders/ Mumbai: The developer of the Mumbai-listed company (HNG) has offered ₹1,380 crore in cash and 10% in shares to lenders as settlement in a last-ditch attempt to exit bankruptcy proceedings, two people have told ET aware of the development. The company has deposited nearly ₹110 crore with lenders to show its commitment to repaying the […]]]>
Mumbai: The developer of the Mumbai-listed company (HNG) has offered ₹1,380 crore in cash and 10% in shares to lenders as settlement in a last-ditch attempt to exit bankruptcy proceedings, two people have told ET aware of the development.

The company has deposited nearly ₹110 crore with lenders to show its commitment to repaying the loans, the people said. Kolkata-based HNG was admitted to insolvency proceedings at the request of DBS Bank in October last year. HNG did not respond to the request sent by ET.

The promoter, Mukul

, made the settlement offer under Section 12A of the Insolvency and Bankruptcy Code (IBC). This provision gives courts the power to withdraw a claim from insolvency proceedings if 90% of lenders by value agree.



The promoters have partnered with a group to fund the settlement, which involves their contribution of around ₹400 crore and funding of ₹1,000 crore. Edelweiss Asset Reconstruction Company (ARC), which has acquired loans from , and HSBC in the past, owns a 23% stake in HNG’s debt.

“State

, which has the highest exposure of 38%, strongly supports the 12A scheme. A draft report on the audit of the transaction, carried out by BDO India, does not give the company a good word,” said a third person with knowledge of the matter.

In 2019, the promoters offered ₹1,710 crore through a one-time settlement; Last June, he made a revised settlement offer of ₹1,400 crore. Both proposals failed, following which the National Company Law Tribunal (NCLT) admitted the company for resolution of the outstanding debt. The developer was unable to meet the payment deadline in 2019, while last year talks with lenders collapsed after some banks wanted a higher payment.

EY-backed resolution professional Girish Juneja admitted ₹3,338 crore in financial creditor claims. The developer’s offer of ₹1,380 crore will equate to a 41% clawback. If 10% equity and additional ₹550 crore that lenders have appropriated over the past two years are added to the settlement offer, the lenders’ recovery is around 60%.

Last month, the Supreme Court’s decision allowing Sivashankaran to settle loans for Siva Industries encouraged developers to regain control of their businesses by making applications under the appropriate provisions of the law. Siva Industries also settled the case under 12A of the IBC.

HNG has received expressions of interest from

Chemicals, Danish brewer Carlsberg and AGI Greenpac, formerly known as , a manufacturer of sanitary products. Kotak Special Situation Fund and two private equity funds – Oaktree Capital and Cerberus – have also expressed interest. Juneja invited firm offers by July 23.

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Forbes Names Ridgewood Savings Bank to America’s Best Banks List for Third Consecutive Year https://russjohnsonmusic.com/forbes-names-ridgewood-savings-bank-to-americas-best-banks-list-for-third-consecutive-year/ Wed, 22 Jun 2022 03:45:52 +0000 https://russjohnsonmusic.com/forbes-names-ridgewood-savings-bank-to-americas-best-banks-list-for-third-consecutive-year/ By SILE MOLONEY RIDGEWOOD SAVINGS BANK, 320 East 204th St, Bronx, NY 10467.Photo by Miriam Quinones For the third year in a row, Ridgewood Savings Bank has been named to the prestigious annual Forbes list of America’s Best State Banks 2022, Leonard Stekol, chairman, president and chief executive officer of Ridgewood, announced on Tuesday, June […]]]>

By SILE MOLONEY

RIDGEWOOD SAVINGS BANK, 320 East 204th St, Bronx, NY 10467.
Photo by Miriam Quinones

For the third year in a row, Ridgewood Savings Bank has been named to the prestigious annual Forbes list of America’s Best State Banks 2022, Leonard Stekol, chairman, president and chief executive officer of Ridgewood, announced on Tuesday, June 21. Additionally, Bankrate has named Ridgewood one of the Best Regional Banks of 2022.

In the context of the announcement, Stekol said that for more than a hundred years, Ridgewood has served the people of New York as a true community bank, providing customers with the best possible service and banking experience. “What sets us apart from other banks is that, quite simply, we treat our customers like family and go the extra mile every day to deliver service and trust,” he said. “On behalf of everyone at Ridgewood, we are so grateful to our customers for once again recognizing all that we do.”

According to Ridgewood, Forbes’ 2022 list of America’s Best Banks includes the best banks based on the results of independent surveys involving approximately 26,000 American consumers who are asked to rate the financial institutions at which they have or have had checking accounts. Participants make recommendations on overall satisfaction and also rate banks in the following areas: trust, digital services, branch services, financial advice and terms and conditions. The list of the best US state banks 2022 is available here.

According to Stekol, Ridgewood is committed to exceeding customer satisfaction and is committed to meeting customer needs at all times. The CEO cited several personal and digital banking services offered by the Ridgewood that he says help customers and their families, including:

  • free green verification, a green, paperless payment account with no monthly fees;
  • Ridgewood’s first checking account that offers customers additional benefits, competitive interest rates on higher balances, free EZShield ID Plus protection, dedicated financial consultant services, and more;
  • foreign exchange and international bank transfer services that allow customers to access more than 80 global currencies;
  • Ridgewood’s student loan referral source that provides students with access through the bank’s website to private student loans through College Ave. Student Loans;
  • Ridgewood’s online banking and, according to the bank, a popular mobile app that lets customers bank 24/7, including Alexa voice banking to help busy families manage their accounts while multitasking; and Ridgewood’s mobile wallet, which allows customers to pay for purchases using their smartphone or smartwatch; and
  • access to 90,000 ATMs at no extra charge, EZShield Identity Restoration, EZShield® Identity Theft Protection, Billpay + Zelle® and more.

Stekol said Ridgewood’s reputation is built on a solid foundation of forward-thinking customer service. “We aim to provide an ideal in-person banking experience, while offering a full range of highly rated digital banking tools that allow customers to bank from anywhere, anytime, and a contact center customer with local staff who are there to help you in any case. way,” he said.

A CASH CHECKING service is located at the corner of Decatur Avenue and East 204th Street in Norwood.
Photo by Sile Moloney

The shortage of banking services in the Bronx has long been of concern to residents. As noted, Ridgewood opened an additional bank branch in Norwood at 320 East 204th Street on September 14, 2021, which replaced the old Norwood branch which was located at 3445 Jerome Avenue.

As also reported, Ridgewood Savings Bank announced on September 1, 2021 that its Sedgwick Avenue branch, located at 3899 Sedgwick Avenue in the Van Cortlandt Village section of the Bronx, would finally remain open, much to the relief of local residents. As noted, three months earlier, in May of the same year, the bank had announced that the branch was to close.

In August 2021, we reported that after a nearly two-year wait, a new Chase Bank branch opened at 7 E. Burnside Avenue, just east of Jerome Avenue, bordering Fordham Heights and of Mount Hope, near the border of University Heights. . A former Chase branch located at 5 W. Burnside Avenue closed in October 2019, dealing a blow to the local community. The impact of this closure was compounded by the subsequent closure of a branch of the merged Bank located at 94 E. Burnside Avenue in Mount Hope in September 2020. As reported, this was despite a rally held on site in an effort to keep the branch open.

Norwood News previously reported a November 2020 break-in and robbery of a Bank of America ATM, located at 3424 Jerome Avenue in Norwood. In addition to the ATM room, a Bank of America bank branch previously existed at the scene but had closed a few years before the robbery.

Meanwhile, as part of a discussion on teaching young people the value of money and how to manage their finances, Congresswoman Nathalia Fernandez (AD 80) recently commented on the benefits of having banks , rather than just cash check services, available within a community, saying, “Cash Checking is not a bank. Having local banks that can help you with loans, set up savings accounts, is a huge step to just being in the mindset and action to be prudent with your finances,” he said. she stated.

For more information about Ridgewood Savings Bank, visit RidgewoodBank.com.

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New NFT Project Raises $8M Amid Crypto and Token Washout https://russjohnsonmusic.com/new-nft-project-raises-8m-amid-crypto-and-token-washout/ Mon, 20 Jun 2022 13:16:42 +0000 https://russjohnsonmusic.com/new-nft-project-raises-8m-amid-crypto-and-token-washout/ Astariaa decentralized finance project co-founded by ConsenSys and SushiSwap alum Joseph DeLong, raised $8 million in a round that included True Ventures, Arrington Capital, Wintermute and more. The platform will allow holders of valuable non-fungible tokens to lock them up as collateral and borrow crypto against these NFTs, so they can buy other NFTs, as […]]]>

Astariaa decentralized finance project co-founded by ConsenSys and SushiSwap alum Joseph DeLong, raised $8 million in a round that included True Ventures, Arrington Capital, Wintermute and more.

The platform will allow holders of valuable non-fungible tokens to lock them up as collateral and borrow crypto against these NFTs, so they can buy other NFTs, as well as trade and invest in decentralized finance (DeFi). For borrowers, liquidity is instantaneous and liquidations more predictable.

why is it important:

  • Astaria should launch in the third quarter, according to the project. He demos on June 22 at the “NFT.NYC” event.

Driving the news: Amid a brutal downturn in all things crypto, a lot of the air was taken out of the NFT market. But Astaria’s fundraising success suggests the sector’s obituary may have been written prematurely.

There is still a lot of wealth trapped in non-fungible tokens: Volume has fallen significantly in the NFT market, but it certainly hasn’t gone away, Bram said.

  • Lending against NFT allows holders to access this wealth and put it to work, but there is still a lot of turmoil in the industry.
  • Currently, at least one major hedge fund, Three Arrows Capital, is get called marginand it probably sells a lot of extremely valuable NFTs as it goes.
  • Still, “with our system, they wouldn’t have to default,” said DeLong co-founder Justin Bram. In theory, they could instead access some of the value of these NFTs with loans.

There are many normal people who could also benefit from it. “A lot of these people who hold apes are NFT-rich and cash-poor, and we want to fix that,” DeLong said, referring to the Bored Apes Yacht Club, the the most precious only NFT collection in the world today).

Situational awareness: Decentralized finance and NFTs have been dance around each other since at least 2020and Astoria isn’t the only company entering the NFT lending space, but it believes it can significantly advance the product for users.

  • “We believe this will add rocket fuel to the NFT industry,” DeLong said.
  • Previous participants include: NFT fi, JPEG and Metalend.

Astoria uses a rating system, where a knowledge worker writes a term sheet about an NFT that reflects its particular characteristics. The appraiser decides the amount that can be lent against the NFT, the term of the loan, the interest rate and can even work out special conditions.

  • If investors like the term sheet, they can post assets for borrowers. If the borrowers like it, they can accept the loan.
  • Performing loans will generate income for appraisers, so they will be incentivized to write terms the market will like.

Astaria has also designed special features so that borrowers can still “use” their NFTs somewhat, if something special comes up (like accessing a party or unlocking a gift for holders).

Be smart: Price discovery in NFTs is very tricky. Not all Bored Apes are the same (not even close), for example.

  • As DeLong explained, if you have 100 NFTs and someone buys one for a million dollars, that certainly doesn’t mean you have a 100 million dollar collection.

Reality check: It’s a complete bear market in crypto and future growth looks risky at best. So, this might seem like a crazy time to build a business around loans for JPEGs.

  • But the Astaria team envisions in three to five years the next generation of NFTs that do much more than the first versions.
  • “We are very focused on the long game,” Bram said.
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Fast Cash – $255 Payday Loans Online Same Day https://russjohnsonmusic.com/fast-cash-255-payday-loans-online-same-day/ Sat, 18 Jun 2022 17:41:49 +0000 https://russjohnsonmusic.com/fast-cash-255-payday-loans-online-same-day/ $255 payday loans online same day Get 100% cash advance online even with bad credit. The best service for fast loans! Payday loans Cash advances are easy to use and can be used for monthly rent, food, transportation costs, and other regular expenses. The cost of these cash advances can vary widely and is usually […]]]>

$255 payday loans online same day

Get 100% cash advance online even with bad credit. The best service for fast loans!

Payday loans

Cash advances are easy to use and can be used for monthly rent, food, transportation costs, and other regular expenses. The cost of these cash advances can vary widely and is usually between $300 and $1,000 up front, depending on how much and how much borrowed. Cash advances can also be used for short periods to cover some of your expenses to make ends meet. And you can get $255 payday loans online same day for example and get more benefits. It’s always beneficial for you anyway.

Cash advances are convenient, simple and are usually secured by a cash loan. Quick cash loans are another type of cash advance you can use. They’re not the most popular type of payday loan, but you can take advantage of them to cover urgent, daily, or urgent needs at rates ranging from 1.5% to 21% for 1 month. This type of debt is ideal for quick payday or to cover regular expenses. Fast cash loans online. Instant cash lenders, fast payments, credit and cash advance repayments. Some people will turn to cash loans in an emergency and they are relatively easy to use and quick to use. They are easy to process and payment is guaranteed on time.

While some cash advances are secured by a cash loan, others are not. These cash advances come from various methods including cash advances.

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This is the best way to get quick cash even if you are only in your area. quick cash loans. Also you can get $255 payday loans online same day fast and easy, which means cash loans can be a quick and easy way to get cash to keep on hand. If you’re going on a trip for three weeks, quickcash loans are the best way to earn some quick cash. These loans give you access to any type of cash advance, short-term bank accounts or credit unions. These types of loans are usually used by people in need of large purchases and they are usually offered in the form of credit cards, debit cards or installment agreements. If you go on vacation, you might find yourself going over the limit. Quickcash fast loans.

With easy payments, you can also get instant financing if you need to make a big purchase, even if you don’t have the cash in the bank. Easy payments. Instant payments on easy loans are an easy way to get cash as quickly as you need without a long repayment period. You can get cash advances, mobile check cashing, money orders, money orders, and any kind of easy loan. If you are short on cash, you can get instant cash for some of these easy loans.

How to pay

Payday loans help keep your finances together while you pay off the balance of principal and interest on a small payday loan or credit card loan and $255 payday loans online same day , these are the main advantages. And how the bank knows to whom and how much to lend. Most lenders use a variable APR which is a percentage of the amount borrowed. In most cases, your monthly payment will be calculated based on the number of weeks you have to pay. Many companies offer online payday loans with low interest rates and a minimum amount. You can also research traditional loans and take advantage of cash advance financing. The best way to pay off your debt is to pay off existing debt.

Quick Cash Loans

Quick cash loans are convenient loans that come in a wide variety of forms on credit cards, debit cards or checks to individuals and businesses. These loans usually have to be repaid within a few weeks. Since quick cash loans come in a variety of forms, you need to know your options and what you need. These loans have fast repayment terms and can be secured with an interest-free loan to get you back on track quickly. These types of loans come with a cash advance. A $50 quick cash loan doesn’t include a $6 monthly interest rate or additional monthly fees that can add tens of dollars. You can also get $255 payday loans online same day and have it so easy for you. You should know that online fast cash loans are a faster form of finance.

They come with a guaranteed initial percentage of the loan, usually 2-6%. You pay the initial amount as a percentage based on how your credit score is calculated. Many companies also allow you to request cash advances while you apply for the credit card, debit card, or check. Once you have a loan approved, you can be on your way immediately. These quick cash loans can help you get started or save for a home, school, college, or retirement. Online fast cash loans are a great way to pay off your debt, or at least pay off existing principal debt quickly.

Online payday loans

Online payday loans are small types of loans that come in forms like payday loans. These loans have a fixed interest rate. With these quick return loans, you will receive a cash advance of $100 on top of your initial rate. You can also get $255 payday loans online same day and it often depends on your score. If you have a high score, you may qualify for a higher interest rate. Many companies will give you a “repayment rate” to pay off the original loan balance.

Check lenders offer a short term loan with a guaranteed rate. These loans come with a minimum payment of $24 and are usually due to payday loans to help keep the money moving, so it’s worth taking a look at the different loans available. We offer different types of loans suitable for a variety of situations and circumstances, from emergency needs to monthly bills. The type of payday loan you choose will largely depend on the type of interest rate you use and the amount of money you need to save to pay off the loan. This guide will help you choose the best offer for you.

Online credit card cash advances

A credit card cash advance offers a cheaper and more convenient way to pay for your in-store and online purchases. Many credit cards have some form of cash advance feature, and many shoppers have even found ways to purchase their favorite products online. Also get small payday loans online with no credit check on the same day and a cash advance often requires a deposit before the credit card statement is sent to the merchant. A cash advance allows you to use that money and earn interest while you continue to spend money on other purchases.

Payday loans are easy to use and convenient. Although there are many types of payday loans on the market, we are always adding new ones. These types of loans can come in many forms, such as auto and home loans, credit cards, mortgages, and even interest-free loans. Many different payday lenders offer these different types of loans, so be sure to see if you can use any of these payday loan types before deciding which one is right for you. Here are some of the best payday loans that can help you deal with your cash crisis.

If you’re struggling with the debt you have, or just need quick cash to pay your bills, you can take a look at one or more types of payday loans available to you. . These loans can be used to pay off debt and to save for financial emergencies.

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A British start-up paid taxpayers’ money to an investor who helped it raise funds https://russjohnsonmusic.com/a-british-start-up-paid-taxpayers-money-to-an-investor-who-helped-it-raise-funds/ Fri, 17 Jun 2022 04:00:25 +0000 https://russjohnsonmusic.com/a-british-start-up-paid-taxpayers-money-to-an-investor-who-helped-it-raise-funds/ A British payments start-up now facing bankruptcy took taxpayers’ money from Rishi Sunak’s Future Fund and used it to buy technology from an investor who helped it raise money. GoodBox raised £9m in a January 2021 convertible loan deal with the Future Fund program, which operated in the first year of the pandemic, according to […]]]>

A British payments start-up now facing bankruptcy took taxpayers’ money from Rishi Sunak’s Future Fund and used it to buy technology from an investor who helped it raise money.

GoodBox raised £9m in a January 2021 convertible loan deal with the Future Fund program, which operated in the first year of the pandemic, according to people familiar with the matter and communications with shareholders seen by the Financial Times.

Half of the money came from a Guernsey company called Q Invest Limited, which is controlled by British entrepreneur Miles Carroll. The remaining £4.5million came from the taxpayer.

A portion of the funds was allocated to purchase payment processing technology, called a payment gateway. Three days before signing the deal with the Future Fund, GoodBox agreed to license such technology from Q Invest at a cost of £5.2 million, meaning Q Invest would recover in spends over £700,000 of taxpayers’ money.

GoodBox, which sells payment devices for charitable donations, has since found itself facing administration, according to the shareholder communication. A creditor of the company is seeking to appoint administrators while GoodBox itself has now hired advisers to pursue an out-of-administration prepackage sale.

The news is a blow to the UK government’s venture capital fund, a scheme that has allowed the taxpayer to own stakes in a wide range of UK start-ups, including a cannabis products company and a South London brewery, but which has been hit by low levels of fraud.

Contactless charity boxes on the bar in a Scottish pub © Kay Roxby/Alamy

David White, chief executive of GoodBox, did not respond to requests for comment. Carroll, who is also a shareholder of GoodBox, said in a brief phone call, “I’m not going to comment.” He did not comment in detail when contacted later by FT via email. However, he said there were inaccuracies in the details the FT told him, but he was unable to clarify them due to confidentiality clauses.

The Future Fund, which has deals worth £1.1billion with more than 1,000 start-ups, required companies to find a third party to apply on their behalf. It offered funding of up to £5 million, which the lead investor had to at least match. The loans have a term of 36 months.

The terms of the Future Fund do not appear to have prohibited companies from purchasing services from their primary investor.

GoodBox was founded in 2016 and counts the Church of England, the Natural History Museum and the British Red Cross among its clients, according to its website. The company raised funds in 2019 at a pre-valuation of £19m on Seedrs, the crowdfunding site.

The company has been hit hard by the pandemic, forcing it to raise emergency funding in early 2020 at just 12.5% ​​of the share price it commanded the previous year. It then secured backing from the Future Fund, which provided convertible loans to all companies that met its criteria.

In a January 2021 message to shareholders, GoodBox described the Future Fund’s £9m funding as “conditional” on the company doing its best to buy a payment gateway. GoodBox said the “final requirement” to close the Future Fund round was to obtain shareholder approval to spend up to £5.2 million on such a purchase. He said that amount was “the price set for a gateway of particular interest”, which he did not identify.

In April this year, GoodBox told shareholders that the Future Fund round had given the company enough money to “drive us to profitability” and enabled it to obtain “key payment software” from at a cost of £5.2 million.

However, he said revenue has not recovered as quickly as expected and said the payment software was still “undergoing rigorous due diligence and will only be accepted once it has been fully vetted and checked”. Carroll told the FT that a potential dispute between Q Invest and GoodBox has been resolved out of court.

GoodBox also told shareholders that “uncertainty over the implications” of the Future Fund’s convertible loan rating prevented it from obtaining the required 75% shareholder approval for a recent funding attempt.

Future Fund loans are typically converted into equity at a 20% discount to the prevailing price during a funding round. Loan note holders have the option to convert if a funding round is less than the loan size. The conversion is automatic for towers of equal or greater size.

Last week, an IT supplier to GoodBox, NGI Systems, requested the appointment of administrators. GoodBox told investors this week, in documents seen by the FT, that NGI “claims huge sums of liabilities, which we dispute”. A hearing has been set for Friday, according to GoodBox. NGI is controlled by GoodBox co-founder and CTO Tibor Barna.

NGI Secretary Ioan Polianciuc said in an email: “We consider it to be in GoodBox’s best interest to have administrators appointed by the court to review certain questionable board transactions. A key example is a £5.2m deal that involved funding from UK taxpayers.

The British Business Bank said: “Investments made by the Future Fund were based on a standard set of terms with published eligibility criteria.”

“It would not be appropriate to comment on individual cases given the commercial sensitivities,” he added.

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How to get a home’s equity paid off https://russjohnsonmusic.com/how-to-get-a-homes-equity-paid-off/ Wed, 15 Jun 2022 04:05:24 +0000 https://russjohnsonmusic.com/how-to-get-a-homes-equity-paid-off/ You finally own your home upfront and want to use that equity without having to sell. Is it only possible? Fortunately, the answer is yes. If you qualify, you can get a paid-off home equity loan, or a home equity line of credit (HELOC) or a reverse mortgage – or, you can opt for a […]]]>

You finally own your home upfront and want to use that equity without having to sell. Is it only possible?

Fortunately, the answer is yes. If you qualify, you can get a paid-off home equity loan, or a home equity line of credit (HELOC) or a reverse mortgage – or, you can opt for a cash refinance or an equity investment shared. Each has its advantages and disadvantages.

Can you take equity out of a paid-for home?

You can withdraw equity from your home even after your mortgage is paid off. One of the easiest ways to do this is to sell your home, but there are also financial products that allow you to quickly extract equity from your paid-for home without having to pick up and move.

“It’s entirely possible to take equity out of your home after paying off a previous mortgage,” says Jeffrey Brown, branch manager at Axia Home Loans in Bellevue, Washington. “Assuming you qualify, you can access this equity at any time.”

Reasons to tap into the equity in a paid-for home

Why would someone seek new financing after finally paying off a mortgage? There are many viable reasons, from financing a home improvement project or investing in a business to buying more properties. Two good rules to follow: Use your equity for long-term projects that create more value than the cost of the loan, and don’t take more than you can afford to lose.

“Many are looking to pay for their children’s education, fund their retirement, or pay for an unexpected medical emergency like cancer care for a loved one,” says Kelly McCann, a construction and construction lawyer. real estate at Burnside Law Group in Portland, Oregon. .

There are also less good reasons to dip into your capital, such as buying a car (a depreciating asset), paying for a wedding, or taking a vacation. It is important to clearly define your goals in order to make a wise financial decision.

How to get paid home equity

Cash refinance on a paid off home

Suppose you are still paying off your mortgage, have sufficient net worth, and need cash. You would probably do a cash refinance, which usually has a relatively lower interest rate than other types of loans.

You can do the same now, even if you’ve paid off your mortgage. You will only have to take out a new mortgage and pocket equity in the form of cash at closing. However, as with any refinance, you will be liable for closing costs, which can be anywhere from 2-5% of the amount you borrow and any escrow payments.

“A cash-out refinance typically results in the lowest interest rate and offers the highest loan amounts you can borrow,” says Matt Hackett, chief operating officer for Equity Now, a mortgage lender headquartered in in Mamaroneck, New York. “It can be a fixed or an adjustable rate loan, and it’s quite simple to apply and qualify.”

Home equity loan repaid

Alternatively, you can apply for a home equity loan paid off by the house.

Like a cash refinance, a home equity loan is secured by your property (the loan security) and allows you to extract a large amount of equity because you have no other debt attached to the residence. You’ll also likely have to pay closing costs, and like any mortgage, you risk losing your home if you can’t pay it off.

Pros: Home equity loans usually come with fixed interest rates, which are usually much lower than personal loan rates. Plus, if you qualify, you can deduct mortgage interest on your taxes.

HELOC on a paid house

Many owners appreciate the flexibility of a HELOC, which works more like a credit card that you can use when you need it.

“HELOCs come with adjustable interest rates, often based on the prime rate,” says Hackett. “They offer the ability to withdraw funds and repay funds during the initial drawdown period, which is more flexible than a standard first mortgage.”

Plus, you’re only responsible for paying back the amount you use against the fixed obligation of a cash refinance or home equity loan, says Vikram Gupta, executive vice president and chief home equity for PNC Bank.

“Also, HELOCs generally don’t have closing costs, although they may have early closing costs,” says Gupta.

HELOCs are not as readily available, however, have smaller loan limits in general, and are subject to rising market rates.

Reverse mortgage on a paid-off house

If you’re 62 or older, you may be considering a reverse mortgage. This financing vehicle allows you to obtain regular payments from a mortgage lender in exchange for the equity in your home.

“A reverse mortgage can be a great way for seniors to access the equity in their home to pay their monthly living expenses and allow them to live independently, especially if they have no income. monthly in retirement,” says Brown.

Reverse mortgages have their pros and cons, however. You’ll still have to keep up with homeowner’s insurance, property taxes, and HOA dues to avoid foreclosure, and there’s a limit to how much money you can get. You also can’t let the house fall into disrepair – you will still be responsible for maintenance.

“It’s important for the borrower’s survivors to understand that the entire balance, plus interest and fees, is due if the borrower dies,” says Gupta. “The borrower’s home may have to be sold if their estate cannot repay the reverse mortgage.”

Investment in shares in a house repaid

With a shared equity investment – a new method of liquidating equity – you will sell some of the equity in your future property in exchange for a one-time cash payment.

“Details on how it works and what it costs will vary from investor to investor,” says Andrew Latham, CFP, CPFC, chief content officer and editor of SuperMoney.com. “Let’s say you have a property worth $600,000 with $200,000 of accumulated equity. A real estate investor might offer you $100,000 for a 25% share in the appreciation of your home.

If the value of your home increases to $1 million after 10 years – the typical term for a real estate investment – you will need to repay the $100,000 investment plus 25% of the appreciation, which in this case would be $100,000. $. You will also have to repay the investment plus the appreciation share if you sell the home.

“The benefit here is that you can tap into your home’s equity without going into debt,” Latham says, “and there are no monthly payments, which is a big plus for homeowners struggling with debt. cash.”

In effect, you will have a silent partner in your home, so you will need to be comfortable with that and that partner’s rights to protect their investment.

Advantages and disadvantages of tapping into the equity of a paid-for home

There are rewards and risks associated with accessing equity when you own your home free and clear.

On the plus side, it can be relatively easy to qualify for home equity financing since you already have a strong track record of paying off your first mortgage, which likely means you’re older and have good credit and possibly a higher income. This increases your creditworthiness as a borrower, making you a prime candidate for lenders and reducing the interest rate you’ll pay.

Moreover, you can use your capital for any reason. Most lenders won’t care, for example, whether the money will be invested in funding retirement, starting a new business, or making a down payment on an investment property.

“Also, it may make more sense to dip into your capital rather than selling your home and downsizing,” McCann says. “If you have a capital gain on your home of more than $250,000 (or more than $500,000 if you’re a married couple), you have to pay taxes on that gain after you sell your home. However, if you borrow against your home, for example by taking out a home equity loan, you don’t have to pay taxes on the loan proceeds – you get the money tax-free.

Of course, if you choose a form of financing where your home is used as collateral, such as a cash refinance or a home equity loan, there’s always the risk that you’ll lose your home if you can’t pay it back.

There are also upfront costs associated with many financing products, so you will need to find the funds to pay for expenses such as lender fees and an appraisal, if needed.

Should you mortgage the house you own?

Whether or not you should pull the trigger on a new mortgage, home equity loan, reverse mortgage or equity investment depends on your situation, your short-term financial goals and term and your ability to repay the debt. If you were to lose retirement income, for example, would you still be able to make the payments?

“Owners need to ask themselves, ‘What is the purpose of the necessary funds?’ They should also assess their individual financial situation to ensure they have the cash to repay the loan in the future, especially as they approach retirement,” says Gupta.

“Do your due diligence when shopping for a mortgage, like any financial product, and make sure they shop around with multiple lenders to find the best option and figure out their best course of action,” says Hackett.

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121 Finance Founder Reveals How Factoring Can Solve Working Capital Challenges Facing MSMEs https://russjohnsonmusic.com/121-finance-founder-reveals-how-factoring-can-solve-working-capital-challenges-facing-msmes/ Mon, 13 Jun 2022 03:50:00 +0000 https://russjohnsonmusic.com/121-finance-founder-reveals-how-factoring-can-solve-working-capital-challenges-facing-msmes/ In business, cash is king. Smooth cash flow ensures efficient working capital management. But managing working capital is one of the biggest challenges facing the micro, small and medium enterprise (MSME) sector due to late payments, stranded inventory, debts, etc. There are 6.33 billion MSMEs in India, of which 6.30 crore include micro-enterprises that are […]]]>

In business, cash is king. Smooth cash flow ensures efficient working capital management.

But managing working capital is one of the biggest challenges facing the micro, small and medium enterprise (MSME) sector due to late payments, stranded inventory, debts, etc.

There are 6.33 billion MSMEs in India, of which 6.30 crore include micro-enterprises that are not financially stable. To survive, these businesses often take out loans and credits from unorganized lenders who charge higher interest rates.

Resorting to long-term loans to meet short-term business needs puts these companies in financial difficulty. And although the government has announced various programs and benefits to help MSMEs, the lack of awareness still persists.

This is where factoring comes in – it can help ensure regular working capital for running the business. This is a way for businesses to finance their cash flow by selling their invoices to a third party (a factor or a factoring company) at a reduced price.

Recently, the Government of India amended the Factoring Regulation Act 2011 (“the Act”), which broadens the scope of companies that can engage in factoring business.

121 Financea Jaipur-based non-banking financial company (NBFC), has become India’s first NBFC factor (after RBI regulation of January 2022) and is on a mission to bring factoring, which was only until presently available only to businesses, MSMEs.

In an interaction with SMBStory, Dr. Ravi Modani, Founder and CEO of 121 Finance, talks at length about the benefits of factoring and how it can help MSMEs out of the working capital crisis. He says that with the RBI being the governing body, all transactions are legalized and regulated.

“Until now, in India, factoring was only practiced for companies. We focus on MSMEs that need to streamline their working capital and needs to keep growing. »

121 Finance, based in Jaipur, is the first NBFC factor in India

Edited excerpts from the interview:

SMBStory [SMBS]: How does 121 Finance help MSMEs solve their working capital/cash flow issues?

Ravi Modani [RM]: We provide factoring services to MSMEs, which simply means that any MSME seller of goods or services can sell their invoices to us and get cash immediately instead of waiting for standard payment. 30-120 credit days period.

It contributes to faster turnaround and more business cycles, and requires no collateral.

SMEs: What was the inspiration behind starting 121 Finance?

RM: My PhD focused on working capital management, followed by three decades of experience with various companies around the world. Meanwhile, the thing that stands out the most is problematic working capital management. In all of finance, good or bad, working capital management has proven to make or break businesses.

Most businesses fail due to mismanagement of their short and long term funds. This is the key factor that prompted me to create 121 Finance, with the aim of supporting companies in managing their working capital.

SMEs: When did you receive a factoring license and how does it help MSMEs?

RM: We received a factoring license in April 2022. This is a certificate of registration issued by RBI under the Factors (Reserve Bank) Registration Regulations 2022announced in January 2022.

Since the governing body is the RBI, all transactions are legalized and regulated. Until now, in India, factoring was practiced only for companies; we focus on MSMEs that need to streamline their working capital and needs to keep growing.

Factoring can be risk free. It has options like collections and debt management services. As everything is digital, it is secure, fast and leaves very little room for error.

Other credit options are mostly based on loans with issues such as collateral requirement, long waiting periods, loan non-approval issues based on history or newness of loan. company. It could also be for one-time billing as opposed to one-time loan funding.

Factoring is for a shorter term of 15-120 daysagainst loans of at least 18 months.

The only challenge is that people are unaware of factoring. If they know, they don’t know that we can now do factoring for MSMEs.

SMEs: What other services does 121 Finance provide and what is the way forward?

RM: We are present on the government Online Marketplace (GeM) Sahay, which offers short-term credit offers to entrepreneurs for their purchases on the portal. We are in the lead with more than 50% of transactions carried out through us.

We are present on all three TReDS platforms, including InvoiceMart, M1xchangeand RXIL, as a financier. We also provide personalized integrated financing to entrepreneurs.

We are the only one providing factoring services to MSMEs in India. We are targeting a disbursement of Rs 500 crore in this financial year.

Edited by Teja Lele Desai
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RBA cash rate: A terrifying $900-a-month ‘cliff’ faces Australians when fixed-rate loans end https://russjohnsonmusic.com/rba-cash-rate-a-terrifying-900-a-month-cliff-faces-australians-when-fixed-rate-loans-end/ Sat, 11 Jun 2022 04:07:30 +0000 https://russjohnsonmusic.com/rba-cash-rate-a-terrifying-900-a-month-cliff-faces-australians-when-fixed-rate-loans-end/ Many Australians who bought homes during the pandemic are about to wake up very abruptly as they face an impending ‘cliff’. Australians who bought a home during the pandemic are expected to face a mortgage ‘cliff’ – adding up to $900 to their monthly repayments – when their fixed rate loans end. As the cash […]]]>

Many Australians who bought homes during the pandemic are about to wake up very abruptly as they face an impending ‘cliff’.

Australians who bought a home during the pandemic are expected to face a mortgage ‘cliff’ – adding up to $900 to their monthly repayments – when their fixed rate loans end.

As the cash rate was at an all-time low of 0.1% as of November 2020, many borrowers were able to secure fixed mortgage rates below 2% that year.

Almost half of all new loans – 46% of them – were fixed rate loans in July 2020.

However, there are now concerns about what will happen when these fixed terms end.

RateCity research director Sally Tindall said a significant number of households would break out between July and December next year, describing the situation as an impending mortgage “cliff”.

“Our estimate is that 38% of people are currently on a fixed rate,” Tindall said, citing a RateCity study that found $131 billion in fixed rate mortgage terms from Commonwealth Bank, Westpac and National Australia Bank would finish in the second half of 2023.

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RateCity said if someone with a $500,000 loan took out a fixed rate mortgage in July 2020 for 1.94% (the average fixed rate at the time), they would currently be paying $2,105 in monthly repayments. .

However, when their fixed rate ends in July 2023, RateCity calculated that they would face an average ‘return’ rate of 5.68%, based on Westpac’s forecast for the official exchange rate.

This would drive up repayments by $937 per month. Even on the lowest estimated variable rate of 4.42%, monthly repayments would increase by $600.

When rates could fall further

A bigger-than-expected rise in cash rates this week surprised many, but not everyone is rocking the rises to continue over the long term.

The Commonwealth Bank (CBA) released a report this week that predicts what the RBA will do to fight inflation over the next few years.

Bank experts say “talking about a recession is premature.”

“Economic booms cannot last forever,” they said. “But not all booms are followed by recessions. We expect Australia’s current economic boom to last a little longer and the labor market to remain tight, so we don’t expect a recession.

“But growth momentum is expected to slow significantly through to the end of 2022 due to a rapid and aggressive RBA tightening cycle.”

Australians got a taste of this “aggressive tightening” this week when the RBA hiked rates by 0.5%.

At 0.85%, the official exchange rate on Tuesday rose to its highest level since September 2019 and marked the first consecutive rate hike in 12 years. Before the announcement, experts thought the rise would be closer to 25 or 40 basis points.

Due to the bigger-than-expected rise, ABC experts have adjusted their forecasts for what’s to come.

“We now expect a further 50 basis point rate hike in July, followed by 25 basis point hikes in August, September and November, which will see the cash rate target at 2.10% by the end of the year. end of 2022,” they said. “The risk is a higher year-end cash rate of 2.35% that could occur with a 50 basis point hike in August.”

However, they said they don’t expect any further rate hikes in 2023. In fact, they believe rates will be cut in the second half of 2023.

They say this because they predict that a sharp rise in interest rates will cause the economy to slow down.

“We expect economic momentum to slow significantly under the weight of tight monetary policy in 2023,” they said.

“As such, we expect to see policy easing on the agenda in H2 (the second half of) 2023. We have forecast 50 basis points of rate cuts in H2 2023.”

The bank appeared to criticize the aggressive rate hikes – calling them a “very brutal tool” to address some of the supply issues in domestic and global economies that are currently contributing to higher inflation.

“Higher tariffs will not put downward pressure on the local price of electricity, gas, oil or food,” he said.

“These items are non-discretionary and their price increases affect all households, especially those at the lower end of the income scale.

“This does not mean that rates should not be normalized because the labor market is tight and wage growth will increase.

“But the medium-term big picture is absolutely paramount and there are other levers that can and should be pulled by policymakers to address some of the supply-side issues, particularly around gas and electricity. ‘electricity in Australia.’

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PIMCO adds a new ETF to its suite of actively managed fixed income securities https://russjohnsonmusic.com/pimco-adds-a-new-etf-to-its-suite-of-actively-managed-fixed-income-securities/ Thu, 09 Jun 2022 13:00:00 +0000 https://russjohnsonmusic.com/pimco-adds-a-new-etf-to-its-suite-of-actively-managed-fixed-income-securities/ NEWPORT BEACH, Calif., June 09, 2022 (GLOBE NEWSWIRE) — PIMCO, one of the world’s leading bond investment managers, is expanding its lineup of actively managed bond exchange-traded funds with the addition of a new ETF that could help diversify fixed income allocations for investors concerned about rising rates. The PIMCO Senior Loan Active Exchange-Traded Fund […]]]>

NEWPORT BEACH, Calif., June 09, 2022 (GLOBE NEWSWIRE) — PIMCO, one of the world’s leading bond investment managers, is expanding its lineup of actively managed bond exchange-traded funds with the addition of a new ETF that could help diversify fixed income allocations for investors concerned about rising rates.

The PIMCO Senior Loan Active Exchange-Traded Fund (LONZ) aims to find attractive opportunities in the senior loan market where investments can offer floating interest rates that can help mitigate the negative impact of rising rates on an investment portfolio. With more than 80 credit analysts at PIMCO supporting our loan-focused portfolio management team, PIMCO will seek to select investments with the aim of prudently managing credit risk while helping investors achieve their investment objectives. long-term.

The ETF will be managed by David Forgash, Executive Vice President and Head of PIMCO’s Global Leveraged Loan Portfolio Management Team; Giang Bui, Executive Vice President and Portfolio Manager; Chris Kemp, senior vice president and portfolio manager; and Tanuj Dora, vice president and portfolio manager.

“We are in a late-cycle environment where credit markets are tougher, volatility is rising and central bank policy is getting tighter,” Forgash said. “LONZ, like many of our ETF offerings, takes an active management approach that aims to be patient and cautious to take advantage of opportunities in credit markets in the weeks and months ahead.”

LONZ is an important addition to PIMCO’s suite of active taxable fixed income ETFs, which includes, among others, the core-plus strategy – the PIMCO Active Bond ETF (BOND) – and the ultra-short bond strategy – the PIMCO Enhanced Short Maturity Active Exchange -Traded Fund (MINT), which is one of the largest fixed income active ETFs in the world.

About PIMCO
PIMCO is one of the world’s leading bond investment managers. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. For more than 50 years, we have continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today, we have offices around the world united by a single goal: to create opportunities for investors in all environments. PIMCO is owned by Allianz SE, one of the world’s leading providers of diversified financial services.

Investors should carefully consider the fund’s investment objectives, risks, charges and expenses before investing. This and other information is contained in the fund’s prospectus, which can be obtained by contacting your investment professional or PIMCO representative or by visiting www.pimco.com. Please read the prospectus carefully before investing.

The investments made by the Fund and the results achieved by the Fund are not expected to be the same as those made by any other Fund advised by PIMCO, including those with a similar name, objective or investment policies. The performance of a new or reduced fund may not represent the expected or possible performance of the fund over the long term. New funds have limited operating histories that investors can assess and new, smaller funds may not attract enough assets to make effective investments and trades. The Fund may be forced to sell a relatively large portion of its portfolio to meet large cash shareholder redemptions, or hold a relatively large portion of its portfolio in cash due to large cash purchases of shares , in each case where the Fund would not otherwise seek to do so, which may harm performance.

Exchange Traded Funds (“ETFs”) benefit from certain exemptions from the Investment Company Act of 1940. The exemptions allow, among other things, the trading of individual shares on the secondary market. Individual shares cannot be directly purchased or redeemed by the ETF. Purchases and redemptions directly from ETFs are only made through the creation of aggregates of units or “baskets” of shares. Shares in an ETF, traded on the secondary market, are bought and sold at market price (not net asset value). Brokerage commissions will reduce returns. Investment policies, management fees and other information can be found in each ETF’s prospectus. Buy or sell ETF shares stock exchange may require the payment of fees, such as brokerage commissions, and other fees to financial intermediaries. In addition, an investor may incur costs attributed to the difference between the highest price a buyer is willing to pay to purchase shares of the Fund (offer) and the lowest price a seller is willing to accept. for Fund shares (ask) when buying or selling shares on the secondary market (bid-ask spread). Because of the costs inherent in buying or selling shares of the Fund, frequent trading can significantly affect investment returns. Investment in shares of the Fund may not be recommended for investors who expect to engage in frequent trading. ETF shares can be bought or sold throughout the day at their market price on the exchange on which they are listed. However, there can be no assurance that an active trading market for the PIMCO ETF shares will develop or be sustained, or that their listing will continue or remain unchanged. Current holdings are subject to risk. Entries are subject to change at any time. Investing in an ETF involves risks, including loss of principal. Return on investment, price, yield and net asset value (NAV) will fluctuate with changes in market conditions. Investments may be worth more or less than the original cost when paid back. Premium/Discount is the difference between the market price and the net asset value expressed as a percentage of the net asset value.

A word about risk: Invest in the bond market is subject to certain risks, including the risk that the value of fixed income securities will decline due to changes in interest rates; the risk that shares in the fund may trade at prices other than net asset value; and the risk that the manager’s investment decisions will not produce the intended results. Invest in senior loans, including bank borrowings, exposes the Fund to increased credit risk, call risk, settlement risk and liquidity risk. Invest in securities denominated and/or domiciled abroad may involve increased risk due to currency fluctuations, as well as economic and political risks, which may be increased in emerging markets. Exchange rate can fluctuate significantly over short periods of time and reduce portfolio returns. High Yield and Lower Rated Securities involve higher risk than higher rated securities; portfolios that invest in them may be subject to higher levels of credit and liquidity risk than portfolios that do not. Derivatives may involve certain costs and risks, such as liquidity, interest rate, market, credit, management and the risk that a position cannot be closed at the most advantageous time. Investing in derivatives could lose more than the amount invested. Diversification does not insure against loss.

There is no guarantee that these investment strategies will work in all market conditions or are suitable for all investors and each investor should assess their ability to invest for the long term, particularly during periods of market decline. No representation is made that any account, product or strategy will or is likely to achieve profits, losses or results similar to those stated. Statements regarding financial market trends or portfolio strategies are based on current market conditions, which will fluctuate. Outlook and strategies are subject to change without notice.

Except for historical information and discussions contained in this release, statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO’s sponsored investment products and separately managed accounts, general economic conditions, acquisitions future conditions of competition and government regulations, including changes in tax laws. Readers should carefully consider these factors. Further, these forward-looking statements speak only as of the date such statements are made. PIMCO undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date of such statements.

PIMCO in general provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This document contains the current views of the Manager and these views are subject to change without notice. This material has been distributed for informational purposes only and should not be considered investment advice or a recommendation of any particular security, strategy or investment product. The information contained herein was obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a registered trademark of Allianz Asset Management of America LP in the United States and throughout the world. ©2022, PIMCO.

PIMCO Investments LLCdistributor, 1633 Broadway, New York, NY 10019, is a PIMCO company.

UNIQUE ID CMR2022-MMDD-CMR

Contact:
Agnes Crane
PIMCO – Media Relations
Phone 212-597-1054
Email: agnes.crane@pimco.com

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Can I invest in real estate as a student? https://russjohnsonmusic.com/can-i-invest-in-real-estate-as-a-student/ Tue, 07 Jun 2022 13:22:00 +0000 https://russjohnsonmusic.com/can-i-invest-in-real-estate-as-a-student/ Investing as a student can be one of the smartest financial decisions you can make. The sooner you start investing your money in assets that will work for you and help you earn money, the more time you will have for compound growth to make you richer. There are many asset classes you may want […]]]>

Investing as a student can be one of the smartest financial decisions you can make. The sooner you start investing your money in assets that will work for you and help you earn money, the more time you will have for compound growth to make you richer.

There are many asset classes you may want to invest in while in school, including real estate. Adding real estate to your portfolio can lead to greater diversification than just investing in the stock market, and it can also provide inflation protection.

But is it possible to buy real estate while you are still in school?

Image source: Getty Images.

Students may face real estate investment challenges

For most students interested in real estate investing, the biggest challenge might come from the high cost of buying properties.

Even repairers tend to cost tens of thousands of dollars or more. While you’re still in school and not working full time, chances are you won’t have the money for a down payment needed to qualify for a loan to buy a property. And paying cash for a property would probably be an impossibility.

While it’s sometimes possible to buy real estate with no down payment, lenders may not be willing to work with you while you’re in school when you have limited income and little work experience. Financing 100% of the purchase price of an investment property could also be a high-risk approach if you don’t have a lot of income to cover the carry costs until your investment starts paying off for you.

There are other alternatives to buying properties

The good news is that it is absolutely possible to invest in real estate without never own a property – and often, this is the best way for students to be exposed to this asset class.

There are a number of different options for investing in real estate without directly buying a property. Here are two examples:

  • Real Estate Investment Trusts (REITs), which were created by Congress to democratize real estate investing by allowing people to invest in entities that hold either a portfolio of mortgages or a portfolio of commercial real estate.
  • Exchange traded funds or mutual funds, which invest in many REITs and/or many real estate stocks. These funds could be actively managed, with fund managers specifically choosing a mix of real estate investments. Or they could be passively managed and designed to track financial indices measuring real estate market performance.

Each of these different types of investments has its own advantages and disadvantages. Additionally, some unlisted funds and REITs have minimum investment requirements. But, in general, it is possible to find options that require very little money to start. In fact, with some brokers allowing you to buy fractional ETF shares, it may be possible to start investing in real estate with just a few dollars.

This can be great for students who don’t have a fortune to spend but feel the real estate industry is where they want to put some of their money. If you’re a student, consider researching these options to decide if they’re right for you. However, as with any other investment, be sure to carefully consider the risks as well as the potential rewards and take the time to think about how real estate fits into your overall quest to build a diversified portfolio.

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