Kyle

House flipping is a great way to make extra money on the side or to make a full-time income if you are ready to commit fully. There are always changes in the housing market, so understanding how the market works and having real estate agents as close allies will help you greatly as you are hunting for properties to renovate. While there are many public speakers and Tv shows that make house flipping looking super easy, as the fast track to making millions, there is a lot of thought and work that needs to go into each flip to leave with a profit. Here is an overview of the house flipping checklist you’ll need to follow.

1. Find the perfect project house.

One of the factors that will dictate your success as a house flipper is the house you find to renovate. The key is to get a bad house in a good neighborhood, so you can bid low and sell high. When looking at houses, you need to research the going prices for comparable houses, so you have an idea of what your selling price can be. You then have to estimate how much it will cost to renovate the house to determine what you need to buy it to turn a profit.

2. Get funding.

Assuming you don’t have investors, you’ll need to look into fix and flip loans to fund the project. A flip loan from a hard money lender is based on the premise that you are not planning to live in the house or keep it long-term. The goal is to renovate the house and sell it as quickly as possible, so these are not viewed as long-term loans.

3. Start with the essentials.

When renovating, always start with the critical functions of the house, so those are done in cases you need to cut back on the original plans later. It is better to run out of money for updated crown molding than to pay for repairs to the HVAC system. The cooling system, thermostat, and furnace are all part of the HVAC system, and they are essential to the house’s value. Installing a new HVAC system or updating the AC system and furnace already in the house will make it more energy-efficient, lowering the money energy bill. Buyers will see this as a huge advantage as they don’t want to deal with high energy bills down the road. Knowing the furnace and air conditioner are new will also be a selling point because the buyers will know they won’t be facing those large expenses shortly.

4. Move to the cosmetics.

The cosmetics are the renovations that make the space more visually appealing but do not impact the house’s structure. When buying an investment property, you always have to keep the eventual buyers in mind. This isn’t going to be a rental property. When you buy houses to flip, the goal is to sell them. You will attract more potential homeowners by putting thought and effort into the design renovation of the home. Real estate is very competitive in many areas, so you need to make sure your house stands out among others in the area. If there are signs that your AC needs a replacement, buyers will be hesitant to buy.

5. Sell fast.

The faster you sell the house, the more room for profit you will have because your expenses will automatically be lower. For example, each money you own the house, you are paying on the utilities, the flip loan, and the property taxes. That money adds to the total expenses for the project, so the less you spend on monthly expenses, the more profit you will have. You must first pay off your hard money lender when you sell the house, so the flip loan is taken care of. You then need to cover all of the renovations expenses that went into the house, whether you paid for them out of pocket, with a loan, or from investors. The money left over after all of the expenses are paid will be your total profit.

Each of these items will have its own checklist, which will vary based on your project. The longer you are in the business and the more professional contacts you have for people you can work closely and quickly with, the more successful you will be in the business.

 

Here goes the intellectual and practical dilemma people face all over the world: should we ban harmful activities? The answer, unfortunately, isn’t as black and white as yes or no. If it was, we wouldn’t be writing a whole post about it. This is an ancient problem we have been trying to solve for not one but many thousands of years. Long before they built the first casino, people still gambled with simple bets such as on games as dice or horse racing.

The Risk Of Addiction

An activity such as gambling may be a harmless one when practiced in good spirits and moderation, but there is a reason it’s frowned upon by the majority. The nature of this high-risk high-reward chase stops people from thinking clearly. Many people didn’t know that they would get addicted, but at some point, they can’t stop anymore, and gambling takes a huge toll on their lives, such as financial troubles (and often going into debt), family backlash, and work-related problems.

It is not a modern illness that’s affecting society. Since there was written history, we know that a certain percentage of the population is heavily inclined towards addiction of all kinds, be it excessive gambling, substances such as drugs and spirits, and even normal parts of our lives such as food or playing video games.

A Bright Future?

The difference is, we now have immense knowledge to help us get better. Science and medicine are unbelievably advancing every year in the 21st century, and even before it was on a rapid rise for over two hundred years. The impact is already seen with many of the previous fatal diseases eradicated, such as polio, and cancer is now actually manageable in over 80% of cases if detected early enough.

These are enormous achievements. Now, we are tackling mental health issues such as depression or addiction with great success. Cognitive-behavioral therapy is the first-line treatment, and it does work and helps millions of people all around the world. And while we now know how to help gamblers and addicts way better, the issue remains. Wouldn’t we have to face these issues if a total ban was put on the matter?

Doubting Legal Enforcements

Banning an activity doesn’t mean people will stop doing it. The same goes for substances, as Prohibition in the US began roughly a hundred years ago, and lasted for only a decade with little to no success. On the contrary, statistics show that it increased the interest in alcoholic beverages greatly, as they were then seen as “immoral pleasure”. It’s a pretty common phenomenon in psychology, and it’s known as the forbidden fruit effect. It looks something like this: when an item becomes forbidden, it’s seen as a more attractive pursuit.

Actually, looking at the data we have will tell you the opposite reasoning: the more accessible an activity such as gambling is, the less prevalent the activity is amongst the population. A friend of mine from Japan, Akio, shared some shocking information with me. He works in an addiction rehabilitation center, and he is frequently treating gamblers gone bad.

As he is a clinical psychologist, he gets to have the deepest conversations possible with the afflicted individuals. And even though gambling is illegal in the Far East country, it is still easily accessible either through the internet or by traveling a few hours on a plane. He sent me a post on a popular Japanese website called casinotabi.com and it’s on resources like these gamblers can find all the information they need. And when somebody has a craving for an addict, they will go to unbelievable lengths of effort to fulfill their “desire”. What good do we do by sending the gamblers to do their deed in another country?

A Better Way

We shouldn’t enable gambling. This is not something to take lightly, and we must keep a keen, watchful set of eyes on it. And we should use measures that are proven to work and not enforce regulations despite all the evidence telling us it’s not helping at all. You don’t eradicate a notion so deeply ingrained in society, by a few simple words put into legal pads of paper.

Instead, we should take responsibility and work on it together, to improve our communities, integrate those who need help the most into them, and make the way back as accessible as possible. Many people make mistakes in life, and punishing them only works so far. There will always be that person who will make poor decisions. Let’s help them make good ones. Here is how YOU can help.

They may not have the big names or monumental amounts of money, but non-league clubs have a strong fanbase. Besides the pride that comes with supporting the little guy, these players are incredibly talented. With that in mind, it is time to analyse what it truly means to support a non-league club. How does such a fan survive with all the news about Chelsea and Man City flying around? Well, here it goes, this is everything worth knowing about supporting non-league clubs.

What is a Non-League Club?

Let us start with a rough framework of the leagues. In England, there is the Premier League which has a total of 20 clubs. Then there is the English Football League (EFL) that has 72 clubs under its umbrella. With that in the bag, let’s move on to what non-league clubs are.

For the most part, this term pertains to football played in England. Although other countries may adopt the same pattern, it isn’t quite official. In a nutshell, this describes any leagues that are not ranked among the top leagues in the nation. These leagues are not quite what you would call professional, though they comprise quite skilled players. So, any league that is outside the Premier League and the English Football League is basically a non-league club.

Note that any club that features in the National League is also considered a non-League team.

What Does Supporting A Non-league Club Entail?

There is quite a bit that is satisfying about supporting a non-league club. For instance, there is more of a genuine connection between the crowd and the players. It also helps that the season tickets are quite affordable. There is no need to break the bank to see some of your favorite players rough it up on the pitch.

Then, there is the other side of supporting a non-league club. Every fan has to roll with the punches because on some days there will be amazing passes and goals. On down days, the quality of the plays will be questionable. You may end up waiting a while for both teams to score.

Then there is the annoying notion of having to deal with the snide remarks from league club supporters. Riffing off that, having no one know the names of newly signed players or even the players on the pitch makes it hard to converse. To analyse a game, you would have to hunt down another non-league fan. Nevertheless, there is a certain charm to it that makes fans come back for more.

How Do Non-league Clubs Make Money?

Running a club, whether it is classified as a League or non-league club costs quite a bit of money. At the base of it all, these clubs make money from gate receipts. There is a split between the home and away sides, with each side taking 45% of the revenues made on game day.

Additionally, they get cash donations from wealthy individuals, just like the clubs in the leagues. For instance, back in 2009, Notts County received a sizable investment from a Qatari fan. Several other clubs have benefitted from such investments. Nevertheless, this is not a sustainable source of funds.