Rent prices on the rise – depending on where you live

If you ask some experts in finance and investment, they would agree that it’s a sound strategy to own assets that generate income. This is actually a lot better as opposed to assets that mostly yield expenses.

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Rents on the rise

Do you want to know the perfect example of an asset that generates income? This appropriately applies to real estate. If you are able to rent out your property, it can generate a more consistent amount of income compared to when it is limited to personal use or kept idle.

However, just like any other form of investment, having a rental property doesn’t immediately translate to financial success. Granted, the demand for real estate continues to rise, and prices have led home seekers to resort to renting as opposed to purchasing, you can always feel confident that there’s a market of tenants for you. However, renting out property is more than simply owning space, and having someone else pay you as they use it.

After all, having a property for rent is about business. One of the most common reasons why many property owners fail is because they wrongly approach the property as business. Some treat it more like a hobby where extra income can simply be had when in order to be really successful, it has to be run like a real company.

When starting your rental business, always remember that not all tenants are the same, so do their needs. In addition to that, you should also keep in mind that the tenant you’ll have will still depend on the type of property you have. Naturally, you’ll attract big families when what you’re renting out is a two-storey home and various businesses when what you offer is commercial space.

So as the rents are on the rise now is the best time to start your rental property. Check out this nice article to learn how much you should be charging your tenants depending on where you live:

The simple test to reveal why you’re not making money

Money is the ultimate tool. We need it in order not only live the life we want but to survive from day to day. However, many people here in Western Australia struggle to make ends meet and they may be facing a combination of issues.

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Tight budget

Being in a financial rut and not being able to find a way out can be extremely frustrating. You may think that you make decent money, but you are still experiencing difficulties each month. You may be overspending or you may not make enough money. You may be overspending while not making enough to cover your basic needs such as food, shelter, electricity, etc. This can lead to real trouble.

Are you not making enough money to cover your bills? If you do, you will need to take some steps today in order for you to increase your income. Budgeting is important. It can be challenging if you have low income but it can help you back on track and you can use certain budgeting strategies to help you cope with being poor.

The most common sign that you don’t earn enough is when you run out of money even at the beginning of the month. Every now and then, you can have a bad month where you experience a tight budget for the last week or so. However, if you are struggling to make ends meet after the fifth of the month, then you are most likely facing an income crisis. This is a strong indicator of an income crisis because it demonstrates that there is not as much overspending going on.

Another sign that you’re not making enough money is when you can’t cover your bills. You’ll know you’re having income crisis when you choose between which bills to pay. If this is your current situation, you definitely need to find a new job.

Here are some other tests you can try to know why you’re not making money:

Risks and return

The best way to build wealth is by investing. But when you invest, you are exposed to different types of risk. What you can do is to learn all these risks and how they can affect your investment returns so that you can get the most out of your invested money.

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Risk vs reward

The key to your investment strategy is controlling risk. According to some experienced investors and business experts, spreading your investments and savings across a variety of channels is one of the best ways to manage risk. This is important because if you have all (or even most) of your money in one place (whether it’s the stock market, real estate or even municipal bonds issued by your hometown), you’re at a higher risk to lose it all if something goes wrong.

To manage investment risk, one of the best ways is by diversification through a well-balanced investment portfolio. You need to spread your savings investment funds among different types of assets and investing in different securities within each type of asset. This reduces risk because even though one or more investments might falter, others will gain.

Another way to reduce risk is by investing over time. According to some researches, investing for the long term reduces investment risk because, it generally will gain back any losses over the long term, even though the price of a given investment may rise and fall within a short period of time. Withstanding short-term price fluctuations often generates greater long-term rewards for stocks versus other asset classes.

Knowing whether to gamble or back down from your investment is truly one of the trickiest questions an investor could ever face; balancing investment risk versus reward is so challenging. Sure, no one knows what will happen in the future. However, with adequate knowledge, you can minimise investment risks.

Check this out for more on investment risks:

Hotel luxury and smart tech: Inside the latest bathroom trends

Are you looking for simple renovations that will give your home a facelift? Most smart homeowners who want to give their home fresh look go for bathroom renovation.

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Bathroom design

Outdated bathrooms can stop potential buyers in their tracks. Even if you’re not looking to sell, it’s nice to feel like you’re living in the current decade. Besides increasing the value of your home, the bathroom can be a place to get creative and have some fun.

Bathroom renovation can give you numerous benefits and one of which is increasing your home’s value. According to experts, even a minor bathroom renovation can give you a huge percentage of return at resale. In fact, even a minor remodel such as replacing tile surround, floor, toilet, fixtures or sink can already boost your home’s resale value. But as you renovate, you also need to make sure that the colours and styles of your new fixtures will be trendy and such trends will have lasting value in the future.

The second benefit of bathroom remodelling is it reduces clutter. If your bathroom is poorly designed, it is inviting clutter. Renovation allows you to increase your storage capacity with smart designs in today’s cabinetry. That way, you can finally find discreet homes for your towels, cleaners, toiletries, and medicines.

An underrated benefit of renovating your bathroom is it helps you save money. Remodelling will not only improve your bathroom’s appearance, but it will also involve replacing leaky faucets, adding aerators, and installing an on-demand water heater and a water-efficient toilet will save you big bucks on utility costs.

Your bathroom should be the place where you spend some of your time after a long, tiring day from office or school. That is why it should a comfortable place. So by renovating your room, you can achieve this relaxing place.

Want some smart bathroom ideas for your room? Check this out:

Tips for starting a home-based business

Home-based businesses have quickly become the fastest growing form of business start-up not only here in Australia but in most countries around the globe. By setting up your business from home, you can have the flexibility that most entrepreneurs who operate from a regular office or warehouse space cannot have.

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Work from home

However, the most common problem entrepreneurs who work from home face is lack of self-discipline. It is difficult not to procrastinate while working without your boss or client watching you. Although working at home requires self-discipline, the benefits can be substantial – especially in the start-up years

There are numerous benefits to running a home-based business. First, you don’t have to commute. Most Australians spend one hour or more when commuting to or from their offices. One of the best benefits of working in a home office is that commuting involves no more than a few steps to the spare room or the basement. That leaves more time for revenue-producing activities.

Another big benefit of working online is its tax benefits. In fact, in some cases, it can be lucrative. You can deduct a portion of your home’s expenses, such as mortgage interest, property taxes, utilities and repairs and maintenance, against your business income if your situation qualifies.

How do you qualify for such tax benefits? To qualify, your home office must be your principal place of business and you can only deduct the proportionate amounts of the total expense which are directly related to your business.

If you are taking care of your small children or have other obligations at home, running your business doesn’t have to be a problem for you – you can work at your time. You can work when your kids are already asleep or when you’re already done doing all your household chores.

There are many other benefits of working from home. But do you know how to start a home-based business? Check this out:

Work-related burnout affects many of us. Here’s how to beat it

Are you an employee or a business owner? If you are, you probably have experienced being extremely busy during holidays and other special occasions. You feel the responsibility to your customers and clients. Added personal responsibilities for the extra time needed to get gifts, attend social events can make you feel like you are burning the candle at both ends.

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Work-related burnout

Thinking about all the tasks you need to complete within a short period amount of time can cause you to panic or perhaps make you give up at a certain point. This added pressure can bring you to the point of burnout.

Among the best and most responsible entrepreneurs and workers in all fields, work burnout is a common occurrence. It happens most frequently if you are dedicated and serious with your job and what you do. If you have high standards for yourself, perhaps you are a bit of a perfectionist or an idealist, you are likely to experience work burnout more often. You want to provide the best service; go over and beyond what is expected to give service to others.

Burnout caused by your should not be ignored. You may not even realise that it is work that is causing your symptoms, and think that you are feeling stress from other areas in your life. In fact, your symptoms can overlap whether the cause is work or other stress.

In worse cases, burnout can even seem like depression, and often doctors will misdiagnose and mistreat work burnout. That is why it’s important for you to be aware of the symptoms. If you are dealing with another stressor in your life, and you don’t feel better, you can start feeling frightened and powerless about getting better.

Work-related burnout can affect any of us and it can be chronic. To know how to beat it, read this:

Business finance and loans

In today’s economic climate, finding financing for your business has never been more challenging. Whether you are looking for startup funds, capital for your business expansion, or you just need money to hold on through the tough times, business financing is difficult.

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Small business finance

What is business financing? Some people call it business funding, business loans, or whatever jargon the industry has come up with, many small businesses consider financing to serve their purpose of whether helping their own start, run or grow; it is the act of coming up with the money.

Many small business owners turn to external small business financing whether that means debt instead of paying upfront costs and cover up-flow gaps with their own money, out of pocket. There are reasons why these small business owners decide to do so.

But first, you need to acknowledge that not every loan fits for every small business. Though some types of loans may sound as fantastic as they are, not all loans will suit you.

When taking business financing for your small business, you need to make sure that you have the most valid reasons why you need to do so. For instance, if you need to purchase new equipment, you can consider financing. However, before you take out an equipment loan, make sure you’re separating the actual needs from the nice-to-haves when it comes to your bottom line.

Inventory is also another important expense your business may incur. Similar to equipment purchases, you need to keep up with the demand by replenishing your inventory with plentiful and high-quality options. This can prove difficult at times when you need to purchase large amounts of inventory before seeing a return on the investment.

A small business loan may sound simple but it is also a major decision you’ll make. Hence, you need to be smart and think a lot before taking one. Read more about small business loan right here:

Rebecca and Chris Judd’s $50,000 renovation mistake

Home renovation is one rewarding task but it is never easy to accomplish. It takes a lot of preparation and hard work to carry out a successful home renovation. In addition to that, you need a lot of money and time in order to ensure that the reasons why you renovated your home are achieved.

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Home renovation mistake

Luckily for our homeowners nowadays, we have the internet to use in looking for home renovation tips that even inexperienced homeowners can use to achieve a successful home restoration. You can now watch videos online showing the latest trends in home designs for 2019. And by being familiar with these guidelines, you will minimise judgement errors and the probability of project failure.

Before you start your home renovation, you first need to identify the reasons why you want to do such renovation. This is to ensure that the project is launched with the correct reasons and with the correct image in mind of the completed renovation.

Another useful tip is to use a home renovation company to check your house before it gets remodelled. You can use maybe an architect or an expert interior decorator to help you. He or she can give you a cost estimate for the project and. Furthermore, the professional can also enlighten you with a clear idea about what needs to be done.

Budget is also another factor to consider. Before starting the project, you should determine the budget that you would like to spend on the renovation project to ensure that enough funds are available and to prevent you from going overboard with his finances while in the course of the project.

To prevent mistakes, you may also work with a trusted contractor or home builder in Perth to handle the remodelling task from start to finish. This will help you the mistakes some homeowners had while renovating their houses.

An example of a home renovation mistake you should avoid is the one done by Rebecca and Chris Judd. The mistake cost them 50 thousand dollars.

Read the full story here:

Natural leaders: Why more women should become the boss

While the world is evolving, we can still observe the inferiority of women in the business world. They are still lagging behind when it comes to a leadership role. Today, only very few women are in CEO roles in top corporations making up only about 5% of the female population – this is according to a report conducted by Pew Research.

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Refresh Dental Spa owner Dr Kristina Cain

Many women have the skills and desire to push themselves to reach the top. However, they are faced with a range of challenges that many of their male leader counterparts don’t have an understanding of. It is these problems that are preventing many women from achieving their goal of becoming a leader at their company and diminishing their ability to get ahead in business.

Equality in the workplace is one of the biggest challenges many females are currently facing. However, female leaders should not give up and instead go for what they want in their careers. You need to hone the skills necessary to give you those skills such as leadership skills, communication skills, and emotional intelligence. You also need to have your voice; speak and be heard.

Another problem women experience in the business world is their confidence. Many women don’t feel confident about their skills and talents in competing with their male counterparts. However, keep in mind that your competitors will always try to take you off your game. That is why it is important for you to stay focused, be confident in your purpose and what you are trying to achieve. That is the only way you will be successful in getting what you want.

However, according to an article written by Smart Company Australia’s Kristina Cain, women are natural leaders and are indeed capable of becoming boss. The number of women in key leadership roles in Australian business is solid proof of this statement.

Read the full article here:

First Home Buyers: The ‘rookie error’ this owner made when selling her apartment

If you want to sell your home, you want to sell it quickly and of course, get top dollar from it. As a seller, you would not have peace of mind until a perfect and secured buyer comes along and finally gets into a transaction to buy your home. This is usually the case when you unroll any product or asset to the market.

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Sell your home

Nowadays, the global real estate is in the slump so you need to strategise to quickly sell your home. Selling a house is not an easy task. There would always be setbacks that would prevent you from selling the asset faster than necessary. Fortunately, you do not need to become a savvy home seller to do the task with much ease. All you have to do is to have clear and effective strategies to do so.

You can do a home inspection first. It will help you determine repair problems that may be present. In the long run, you should realise that spending on repair can be far less than possible loss incurrence. When your potential buyer notices that there’s a portion or portions of your house that require repairs, he will bid to lessen the cost you offer. Hence, you will possibly lose more money then for the repair cost.

The overall assets of the neighbourhood would also help boost prices and make buyers immediately close the deal. It is better if there are available figures from the local government thought you may at times find it hard to get such information. If in the neighbourhood there are community pools, parks and schools. The home can also become instantly interesting. This helps to inflate and bolster the valuation of the home for sale.

There are some home selling mistakes people make, especially those who did it the first time. To avoid those mistakes, you should read this: