Latest news with #AdamHamilton
Yahoo
28-05-2025
- Business
- Yahoo
3 Key Signs You Bought Too Much House (and What To Do Next)
Home prices have appreciated by 45.3% in the last five years — more than double the typical appreciation rate according to Zillow. Be Aware: Try This: As a result, many buyers have overextended themselves in an effort to become homeowners. Watch out for these signs that you bought too much house. Budgeting is a zero-sum game. If you spend more on housing, it leaves you less for entertainment, travel, healthcare, saving, investing, and everything else you want and need. 'If you're spending more than 25% to 30% of your monthly income on fixed housing costs like your mortgage payment, insurance and property taxes, you're pushing the envelope in terms of how much debt you should carry with your current income,' explained Realtor and investor Jacob Naig with Realty One Group. And housing costs don't end at the mortgage payment. They include utilities, maintenance and repairs, and they often catch first-time homeowners unawares. Check Out: Homeowners who bought too much house typically find themselves so strapped for cash that they fail to set aside money for repairs and maintenance. 'Homeowners should save money each month for inevitable maintenance and costs,' explained investor Adam Hamilton of REI Hub. 'But overextended homeowners can't afford to, so when repairs pop up, it creates a crisis.' Larger homes and land cost more to maintain. Fred Loguidice, founder of Sell My House Fast Providence, sees it all the time. 'That large lawn or extra square footage felt great in the beginning, but if you're constantly shelling out for utilities, maintenance and repairs and that are dominating your weekends and your budget, you probably bought more than you can handle.' Remember those hobbies, trips or even going out to dinner occasionally? You can have that again — if you tackle the problem head-on. Start simple by reducing heat and cooling usage. Lower your thermostat in the winter and wear warmer pajamas. Close the vents in rooms you rarely use, and keep those doors closed. As for that big, beautiful yard? Consider setting aside the closest part to be your mown lawn, and let the further reaches become a wildflower field. If you bought more bedrooms than you need, consider renting them out, either to long-term renters or short-term guests on Airbnb. Even renting out space for two long weekends each month could make a big difference in your budget. Have nearby family or friends you enjoy visiting? Rather than renting out a bedroom or two on Airbnb, rent your entire home. A single weekend each month could net you hundreds of needed dollars. Plus, you can placate your in-laws who complain that they never see you. If there's 'too much month at the end of the money,' you might just need to earn more. Explore side hustles that generate extra income to afford that dream home of yours. You could also position yourself to simply earn more from your day job. That might mean documenting your successes better at your current job to negotiate a raise or put in for a promotion. Or it might mean upskilling and moving to a different employer or even a different field altogether. Better yet, combine several of these strategies to start making real financial progress. Get a raise while reducing your housing costs, renting out space and potentially picking up a side hustle. You'll find yourself in an entirely different situation in a year from now. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on 3 Key Signs You Bought Too Much House (and What To Do Next) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-05-2025
- Business
- Yahoo
3 Ways To Earn Money With Family Members
Starting a family business or enterprise can be a good way to make money while working with people you know well. The trick is to know you can work together for a long period of time, and then devise a plan for success. Read Next: Explore More: Here's what experts who have either started family businesses or advised those who have said are the best ways to work together to earn a living. For those who want to start a business with their families, it might be hard to narrow down options. Alex Smith is the manager and co-owner of a business he started with his family. He said the key to the success at the early stages was figuring out what each family member's strength was and applying that to the business model. This not only ensures a job gets done well, but also helps everyone feel like they're contributing equally. 'One family member was naturally good with people and took on all client interactions, from first contact to final delivery. Another had an eye for design and took charge of our branding, social content and overall look. I handled the technical side, creating the 3D renderings, models and virtual walkthroughs. Every single piece we put out passed through all three of us before going out the door,' he said. 'No one was sidelined. Every job depended on all three roles being done right.' Check Out: It's no secret that real estate is expensive. A strategy to make a home more accessible is by splitting the cost among family members. After the home is purchased, the family can use the asset to generate income. 'By pooling resources together, the home purchase is more financially achievable, and then the property can be turned into a rental, where it can turn out regular monthly earnings to be split between the family members,' said Adam Hamilton, the co-founder of REI Hub. Renting out the property isn't the only option to make money. Another way to profit from the home is to turn the house itself into a business, like a bed and breakfast. 'If multiple family members work together, leaning on their individual strengths like cleaning, or dealing with finances, or communicating with guests, that can make it a lot more achievable,' said Steve Schwab, CEO of Casago. More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying 4 Affordable Car Brands You Won't Regret Buying in 2025 4 Things You Should Do if You Want To Retire Early 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth Sources Alex Smith, Adam Hamilton, REI Hub Steve Schwab, Casago This article originally appeared on 3 Ways To Earn Money With Family Members Sign in to access your portfolio
Yahoo
04-04-2025
- Business
- Yahoo
These 6 Types of Real Estate Are Likely To Turn the Biggest Profit in 2025
If you're a current or prospective real estate investor, you may be watching the market with fear or unease. High interest rates and property prices can deter even the most seasoned investors. Explore More: Find Out: Fortunately, lucrative opportunities are still available. GOBankingRates asked several experts what kinds of real estate will turn the biggest profit for investors this year. People will always need a place to stay, whether for a week on vacation or multiple years to live. As such, Adam Hamilton, CEO and co-founder of REI Hub, said both short- and long-term rentals should be profitable this year. 'Short-term rentals only continue to grow in popularity for people traveling, as they can offer much better prices than hotels,' he explained. 'Long-term rentals always do well, but they may do especially well in 2025, as we could see a decrease in home buying due to the current economy and housing market. 'Whether you own an Airbnb, a vacation rental, a second home that you rent out or a handful of rental properties, you will probably see great profits this year,' he said. Consider This: Sometimes, investing in ugly, rundown real estate can produce beautiful results. Austin Glanzer, real estate investor and owner of Noble House Buyers, said, said off-market distressed properties are likely to offer the best opportunities this year. 'Distressed properties always have potential,' he explained, 'but with high interest rates, I think we'll see more sellers who need to get out fast. If you can buy at the right price, there are many ways you can make money.' If you're a young adult or don't have a lot of capital to invest, you may want to consider this advice from Cindy Leonard Stumpo, CEO of C Stumpo Development. 'If I were 24 today, I'd buy a triplex or fourplex, live in one unit and rent out the rest,' she said. 'Your tenants cover the mortgage, so you're building wealth while living for free. That's how you start in real estate when you don't have deep pockets.' You can turn a building into a multi-family home by remodeling its basement. Miguel Calvo, a real estate agent with The Calvo Team, said, 'If rent is high, like here in Nashville, there are families who will live in a remodeled basement. My tenant pays about $1,500 a month.' Instead of fixing and flipping million-dollar houses, consider catering to those on a budget. 'There is a huge opportunity in the market for savvy investors who invest in value-driven homes that the average consumer can afford,' said Dale Wills, owner and founder of Centra Companies and Central Capital Partners. 'Affordability is one of the biggest issues facing home buyers when it comes to residential real estate. This has priced many buyers out of the market and made homeownership impossible for a large segment of the population.' While residential properties can be money-makers, commercial properties can line your pockets, too. 'Self-storage facilities and car washes have low overhead costs compared to the revenue they bring in, making them easily [some] of the best types of real estate to generate a big profit,' said Laine Blackmon, branch manager at NV Capital Corporation LLC. She also pointed to data centers as a low-overhead investment. They can be expensive upfront, but modern technology and the growth of AI drive demand and make data centers likely to make a 'huge profit.' No matter what type of real estate you decide to invest in, the experts offered these best practices to follow. Wills encouraged investors to know their 'why.' 'Before making any decisions, real estate investors need to first consider their goals. Some investors are looking to build a retirement nest egg. Others want freedom from their regular day-to-day job,' he said. 'Determining your goals before you buy or sell a property will keep you laser-focused and improve your chances of success.' The whole point of investing in anything is to generate a return. 'You make your money when you buy, not when you sell. If you overpay, it doesn't matter how nice your renovations are. You will always struggle to make a profit,' said Glanzer. The contractors, property managers and other professionals you work with can make or break your real estate investing business. Calvo learned this hard lesson. 'I lost $50,000 from workers abandoning the project and pocketing my money. The court system did not enforce anything. Good, honest workers are so valuable,' said Calvo. Timing must be part of your investment strategy. 'For long-term investments, there's never a bad time to buy. If you hold for 10 years, you'll come out ahead. But real estate moves in cycles. Typically, it's eight years up and a few years down,' said Stumpo. You'll make better deals when you have all the facts. Wills said, 'Real estate investors should do as much research on the location as they can. No matter what asset class they invest in, location will always be a significant factor in the success or failure of the investment. Research the local economy, growth trends and property values to understand what's happening in the market.' You don't necessarily need money in the bank to invest in real estate. '[You] should consider leveraging debt to keep more cash on hand. Things like private or hard money can assist with short-term financing while [you have the] time to either sell [your] property or get traditional financing,' said Blackmon. Just like in life, in real estate investing, you should hope for the best but plan for the worst. 'There are so many factors out of your control when it comes to investing in real estate. The one thing you can control is your decisions. If you can't live with the worst-case scenario, then don't move forward with the investment,' said Wills. As an investor, you need to be patient and persistent. Glanzer said, 'Real estate isn't a get-rich-quick game. It's about buying right, executing efficiently and knowing when to hold or sell. I think you should focus on stacking small wins!' More From GOBankingRates Trump Tells Sean Hannity Why He Took Away One of America's Favorite Tax Cuts 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth Salary Needed To Achieve the American Dream in the 50 Largest Cities How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on These 6 Types of Real Estate Are Likely To Turn the Biggest Profit in 2025 Sign in to access your portfolio
Associated Press
28-01-2025
- Sport
- Associated Press
Alexis Marmolejos, Adam Hamilton spark Lamar to 69-59 victory over Northwestern State
The AP Top 25 men's college basketball poll is back every week throughout the season! Get the poll delivered straight to your inbox with AP Top 25 Poll Alerts. Sign up here. BEAUMONT, Texas (AP) — Alexis Marmolejos had 14 points and Adam Hamilton posted a double-double to lead Lamar to a 69-59 victory over Northwestern State on Monday night. Marmolejos shot 4 of 13 from the field, including 3 for 11 from 3-point range, and went 3 for 4 from the line for the Cardinals (12-9, 7-3 Southland Conference). Hamilton finished with 13 points, 14 rebounds and four blocks. Ja'Sean Jackson hit three 3-pointers and scored 13. Addison Patterson led the way for the Demons (10-11, 6-4) with 14 points and six rebounds. Justin Redmond had 13 points and Willie Williams recorded eight points and nine rebounds. ___
