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Why Online and Offline Real Estate are Always Great Investments

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No matter what profession you’ve chosen to go into, investing in real estate (both online and offline) is one of the best ways to safeguard your future financial security. You may be thinking, but I don’t know anything about investing. The good news is you don’t have to be a hotshot Wall Street professional to get started. Just like pretty much any type of investing or necessary further education requirements, you can learn all of the basics online.

The great thing about investing in real estate is that even making small investments can later provide big returns. While offline real estate and properties will likely cost thousands of dollars to start investing in, online properties (in the form of domain names) can cost as little as $10 to get started. In either case, there is plenty of time, work, and research required for each. Yes, people are making good money, but it would also be a huge mistake to think it’s easy.

To help with the thought process behind investing in offline and online properties, let’s take a look at some of the different investment options out there, and why it continues to be one of the best ROI business models out there.

It’s Reliable, and Property is Always in Demand

Since the dawn of the Great American Dream, real estate has been considered one of smartest long-term investments available. It’s also one of the biggest reasons young couples have long been advised to purchase a small starter home at the beginning of their marriage with the promise that after a few years they could sell at a profit and pad those retirement accounts. So while you may have never felt compelled to have that front yard and white picket fence, you might want to reconsider. Also be sure to consider your home locations, as you never know when the unexpected might happen!

Economic tides will continue to ebb and flow, but property values tend to almost always increase over time, regardless of the market. Why? Because people will always need shelter, so why not kill two birds with one stone? Shelter wrapped up in an investment is pretty much a win-win.  Additionally, while new companies and brands come and go, housing will always remain a necessity, even if there are slight dips in the market.

Taking all of these perspectives and focusing them towards online real estate and domain names, you have even more limitations and value in what you may own. Think of .com, .net, and .org domains as the premium houses of the world. When you get a generic one-word domain, think of it as the most expensive and valuable house in the state! Some domain names will go on to sell for millions of dollars, but it’s extremely rare and unlikely.

You Don’t Need Trade Floor Skills

It’s true that understanding stock market investments can take years of knowledge and practice, but real estate isn’t nearly as complex. Yes, it will require some research, and you’ll have to do a considerable amount of evaluation, but there’s not nearly as much guesswork and volatility with property compared to investing in the latest and greatest trends, like cryptocurrency. Really, it all boils down to figuring out what the real estate market looks like in your area as well as what’s available and it’s quality. Start by visiting open houses and auctions. Connect with others who’ve made property investments and read as much as you can on the topic.

When buying or selling a home, you can go through a realtor. The same holds true for buying and selling domain names online — except it’s often done through a domain broker. Just like realtors, a domain broker is going to do most of the work for you, as they likely have many connections and potential buyers or sellers in place. At the same time, you will also have to pay a percentage (usually 10-30%) for their efforts and success rates.

Go Big, or Go Small — All Options are Available

If you’re interested in buying a home, considering buying a rental property instead. And don’t worry, if do decide to invest in a rental it doesn’t mean you have to actually manage the property yourself.  You may decide to hire a property management company to oversee the daily operations. A manager can screen tenants, collect rent payments and show the property to interested parties. Or you may decide to manage the property yourself and function as a landlord. However, if the latter is the case and you don’t have any property management experience, you may want to seek out some advice and tips for new landlords.

This same concept is happening daily in the world of domain names as well. With domain brokers like GreatDomains, NameJet, Pool, and others, sometimes domain names can sell for five, six, or even seven figures. In most cases, these domains will be purchased outright and paid in advance. However, there are times when it makes sense to sell domains at a faster rate and offer a payment plan, which allows for more buyers to take action.

The Internet is Your Ally

Another reason there’s no better time to invest in real estate is the sole factor of technology.  Whether it’s the topic of buying, selling or managing real estate the sheer amount of resources you have at your disposal is mind-blowing. With just the click of a button, you can research and make an appointment with experts, realtors, property management companies, and home inspectors (a must before making any purchases). There are also hundreds if not thousands of threads on what you should know before investing, not to mention the added benefit of social media. Gone are the days of taking out a newspaper ad. So if you’re looking to strategically buy and sell to see returns, platforms such as Facebook, and even Craigslist, can provide additional marketing support to get your real estate listings seen.

When it comes to buying and selling domain names, the internet is your bread and butter — in fact, it’s kind of your only option! The good news is that there is a whole world of resources out there, domain expiration services, auction marketplaces to buy and sell domains, and much more. Take advantage of everything the internet has to offer in reference to learning more about buying and selling domain names or site properties, then get ready to make your first move!

It Can Be Tax Deductible

While tax codes allow for a range of deductions, including everything from the interest on your mortgage and money spent on renovation to a range of upkeep and maintenance costs, they do vary by state. You’ll want to investigate, or even consult with an accountant in your area, but in general, most rental property expenses can be written off as business expenses.

If you currently have an online business and are investing in domain names, this would definitely fall under the realm of a write-off (investment/cost) for the business. Of course, if you were to sell the domain name for big money, that would also funnel back into the business and eventually be taxed the same as any other incoming revenue.

Investing in the Offline and Online World of Property and Real Estate

No matter what type of property you are looking to invest in, always be sure to put in the time and effort to completely understand what you are getting into. If it seems too good to be true, it probably is. Finding that killer domain name on a GoDaddy or NameCheap search and getting it for $10!… Yea, that’s probably a perfect example of ‘too good to be true‘.

At the same time, you may feel hesitant about shelling out the dollars, but if you do your research and select carefully, the financial benefits can be great. The more comfortable you get with the idea of planning out your investments and taking action, the more likely you are to find success in the long run.

However, like most great investments it’ll take dedication and work on your end so don’t hesitate to seek support and get your questions answered!

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Entrepreneurship

6 Workplace Design Tips to Transform Your Office Space

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Being in a single space for at least nine hours a day can prove to become a little bland for your employees while working in the office. It doesn’t have to be though! Spending a little bit of time to spice up your office space for the new year can create an overall healthier work environment.

This is something home-based entrepreneurs know all too well. When first starting your side hustle or business, you will likely just be working from a desk, but over time you can customize your workspace to be a place where you actually love being in, and making it your own.

Over the years, I’ve gone through this process plenty of time — whether it be when I was just a kid running my business from a room in my parents house, to moving into our new place, rebuilding after Sandy, and all of the temporary locations in between.

Either way, if you are going to be spending a ton of time in one specific room or location, you might as well make it a fun and professional place to get work done!

To get started, take a look at these top tips to create a new workplace design for 2019.

1. Flexible and Modular Office Furniture

A big trend of 2019 is to take advantage of modular furniture that can be reorganized for group brainstorming or team meetings. Find some office tables and chairs that can be reworked into larger tables for group meetings, or can be broken up for smaller one-on-one brainstorming sessions.

You can also work with companies to build commercial fitouts to make an office space work within the dimensions of the rooms and open spaces you already have. While it might cost a little more money to get this done, it will make for a more professional look and feel over the life of your work area.

2. Focus on Activity-Based Team Projects

Make sure you have spaces for team-building activities. Try to incorporate spaces like lounges, conference rooms, and multipurpose workspaces to increase collaboration and boost productivity. There will always be a need for privacy, so be sure to try and seamlessly blend open spaces into your workplace design without leaving your employees to have to struggle to focus because their desks are right next to the busy activity areas.

3. Design for Employee Wellbeing

It has been proven time and again that our surroundings affect our wellbeing. Considering most professionals spend a good chunk of their day at the office, it is integral that these office spaces focus on human wellbeing.

Do this by ensuring your lounges and restrooms are away from individual workstations to help get your employees moving around. You can also integrate a new trend called biophilic design that combines nature into your workspaces, such as plant walls and windows.

4. Think About Visual Appeal

While functionality is great when thinking about your new workplace design, you also want to make sure the overall look is visually appealing. Millennials specifically enjoy coming to a workstation that promotes inspiration and creativity.

5. Integrate Technology

Our lives revolve around technology, and with computer systems and software playing a huge role in most workspaces, it only makes sense to try and think about creating your workplace design around the technology you will be using on a daily basis. Consider integrating wireless charging stations, interactive displays, and even tabletop touchscreens.

6. Get Your Team Involved

You know your employees best, so why not get them involved? This will allow your team to both ensure the office redesign will fit their needs as well as make them feel like their opinion is welcomed and appreciated.

Ultimately, the way you design your home office or work space is going to come down to what you want to accomplish with it. If you are going to be working in this area by yourself 95% of the time, there is no need to have additional chairs or clutter for guests who are never going to be there.

On the flip side, if you are having clients and guests in your work space quite often, you will want more of a open and free feeling.

This is where the advice and recommendations from fellow co-workers and employees can definitely bring some new ideas and direction to your working space.

What Will You Include in Your Workplace Design?

Start the new year off right with a strategic new workplace design that will offer a healthier and more productive work environment.

What trends will you incorporate into your redesign?

Don’t jump in head first. Contemplate what would work best for your team and then consider these top trends of 2019 that will create the most impact for your team. It will prove to make this year your company’s most successful year yet!

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Entrepreneurship

13 Side Hustles You Can Use to Fund a New Venture in 2019

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A buzzword floating around for a while now has been “side hustle.” Many entrepreneurs are turning to side hustles as a way to increase income without signing onto massive commitments. This approach can potentially have more flexibility than part time work, allowing entrepreneurs to gain needed income or experience, without over-stressing their routines.

For entrepreneurs looking to fund an initial venture, side hustles may be the perfect solution. As there are a wide variety of side hustles out there, we asked entrepreneurs from YEC to share the kinds of side hustle they think are worth considering, along with how to get started. Here’s what they said:

1. Do Something Automatable

To fund my initial venture, I started selling cell phones on Amazon. I was able to do this because I could ship all of my inventory to Amazon and they would handle all the shipping and returns using their Fulfilled by Amazon service. The key is that your side hustle needs to be automatable. I found suppliers, placed orders and then shipped the inventory to Amazon and I’d call it a day.

– Bryan Kesler, CPA Exam Guide

2. Try Flipping as a Side Hustle

An entrepreneur I follow is a big proponent of flipping as a side hustle. This doesn’t mean houses, it means anything you have at home that you don’t need, what you’d find at a garage sale or anything you can make a profit on. Apps like Offer Up and others make it extremely easy to list things and sell things without having to tell everyone you know what you’re doing.

Joel Mathew, Fortress Consulting

3. Do Something Related to Your Venture

You only have so many hours in the day and you want to be using as many as possible to move your life, goals and dreams forward — so don’t squander them working in a completely different direction from what you actually want! These days, you can side hustle in just about any field or industry, so pick one that is going to help get your venture off the ground and prepare you with useful skills.

Justin Faerman, Conscious Lifestyle Magazine

4. Monetize Your Expertise

Monetizing expertise is the easiest way to build a profitable side-hustle — or even a primary hustle! Everyone is an expert at something, and expertise can be monetized. Figure out what you’re best at, then figure out who needs that skillset. Whether you consult, give speeches, create sponsored content on social media or share another way, there is an audience willing to pay for what you know.

Brittany Hodak, The Superfan Company

5. Consider Which Category Works Best for You

Undertaking a side hustle can branch into two separate categories: financial reserves and learning opportunities. Paid contracting or freelancing gigs and training opportunities, combined with savings and a frugal lifestyle, help with self-funding a business. Learning opportunities are volunteering and participating in startup communities, building a network for scaling a business quickly. – Mario Peshev, DevriX

6. Rent a Room via Airbnb

Airbnb is a great side hustle for extra cash. Whether you have a room or two at your house you’d like to post on the site or invest in purchasing a house solely to rent out, you can make quite a bit of money. Type in your city or neighborhood in Airbnb and check out your competition. Which places have the most and best reviews? What can you do to differentiate?

Syed Balkhi, WPBeginner

7. Drive With Uber

Uber is a great side hustle. Anyone with a car can take advantage of. By providing just a few trips before or after your work day, you’ll have more extra cash in your bank account to put into your new business venture.

– John Turner, SeedProd LLC

8. Start an Affiliate Marketing Site

Starting a business requires a huge amount of energy and dedication. Chances are, you won’t have a lot of energy left over to do something you don’t enjoy. That’s why starting an affiliate marketing site can be such a good fit. Choose a topic you are passionate about that also has sizeable niche of consumers that are interested in it.

Thomas Smale, FE International

9. Sell Things on Facebook Marketplace

Got some stuff lying around your house that you don’t want anymore? Put it up for sale on Facebook Marketplace. You could even go hunting for some great finds at charity shops or garage sales and resell them for a profit right from the comfort of your own home.

– Blair Williams, MemberPress

10. Do Anything That Gives You Free Time

One of my side hustles was working at the front desk of a hotel. I worked the slow shifts and used all my downtime to build my business on my computer. I understood every piece of spare time was valuable to me. Even mowing lawns as a teenager I would listen to Tony Robbins’ CDs. Stay away from anything too physically or mentally intensive so you have the energy to moonlight when you get home.

Matt Wilson, Under30Experiences

11. Become an Amazon Prime Seller

It’s surprisingly easy to become an Amazon Prime seller. Considering that there are 100 million Prime members, with the right Prime product, you can make some decent cash. One trick is finding a product that is selling well and no one is selling it with a Prime tag. You will then differentiate by selling the same product with a faster delivery.

Jared Atchison, WPForms

12. Start Freelancing

The ideal side hustle brings in money while providing the flexibility you need to grow your main venture. Freelancing fits the bill and you can leverage skills you already have, especially if you have technical expertise — developers are always in demand. However, make sure the side hustle is worth your time; focusing on growing your business might provide better returns in the long run.

Vik Patel, Future Hosting

13. Do Something You Actually Enjoy Doing

A side hustle offers people the unique opportunity to do what they’ve always dreamed of. Many people, for example, turn to blogging because writing isn’t the most lucrative career path. Whatever you choose should be something you enjoy because it will ultimately be added work. Your side hustle should embrace the cliche of doing what you love so you never have to work a day in your life.

Reuben Yonatan, GetVoIP

Take these Expert Tips and Start Implementing them Today

Now that you’ve had a chance to read through some expert tips on how to start making some extra money on the side, it’s time to implement these changes into your own business and daily efforts.

Also, if you enjoyed this expert round up, I highly recommend you check out another one on BloggingTips.com which asks 83 online marketing experts the question “How Do I Start a Successful Blog?“. If you don’t already have a website or blog of your own, follow my guide to get started with one today.

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Entrepreneurship

9 Secret Tricks for Paying Off Your Business Debt in 2019

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Running a business but fear your debt is about to pile up? This is something that happens to many entrepreneurs and marketers when running an online business. Money always seems to go out much faster that it actually comes in.

While it is scary, don’t worry too much about it. It’s normal to have debt; other than equity, you can use debt to finance your business. Go too deep in debt, however, and you could run into the risk of bankruptcy.

If you want a successful business, you need to track the key metrics to ensure it happens. But what should you do when you get into business debt? You have a lot of options to choose from.

Are you ready to learn how to get out of business debt? Read on and learn these tricks.

1. Increase Your Profits

One of the most common ways to pay off your debt is to increase your income. Do your research and try using strategies to raise your revenue. For example, you can make promotions that make interest from your local customers.

Making promotions can make people buy more from you. But this is a balancing act since doing it too much is counterproductive. Check your margins and see if you can raise your prices for more profit.

2. Get Customers to Pay Faster

When billing customers with an invoice, you might get delays from them. You need to make your customers pay faster if you need funds as soon as possible. Make sure that your payment terms are short.

If you allow 90 months to pay, shorten it by half. Most customers will make sure to pay at the very last moment. So that means you need to think about how long you’re willing to wait for their payment.

Track down some late-paying customers. Check for outstanding invoices in your business database. Remind them about the bill and send in some collection letters if it doesn’t work.

3. Cut Costs

Having small business debt means you should spend for the bare necessities. Depending on the amount of debt, you might end up spending even less. That means you need to analyze the things you really need.

Always look for opportunities to cut out things to save your money. You can either make small, minor cuts or a single large cut. Again, you might need to do both if your debt is big enough.

4. Give Your Debt Priority

Check which debts you can pay off first to get out of debt. Check the critical ones with the ability to destroy your business in its entirety. Also, consider the ones that can have a negative effect on your business relationships.

There are some debts that can damage your reputation with your vendors. You need to think about how it affects your future relationships with them. Do this while thinking about the interest rates and possible penalties like the collateral you lose.

5. Negotiate Better Terms

Ask if you can get smaller interest rates or minimum payments. Creditors will try to keep your business afloat. After all, if your business fails, they won’t get anything out of you.

That means they’re more likely to work with you. In most cases, they’ll extend their payment plans or make the debt smaller for you to pay it. They’re better off getting some money than getting nothing at all.

Always talk to your lenders. You might get a pleasant surprise on what they can do for you.

6. Ask for Friend and Family Support

Your loved ones might have the means of helping you out of a debt. They can help you pay it off and you’ll pay them back at a later time. Family members and friends can be great lenders for you.

Often, they’re more understanding and sympathetic with your situation. Most family members might offer little to no interest rates. They’re more likely to let you pay smaller amounts over a longer period of time.

7. Try Debt Consolidation

If you want to know how to dig out of debt, try consolidating your debts. You can check The Credit Review for the best debt relief companies to help you. These might help you pay off all your debts, so you only need to pay one entity for it.

Having a single debt instead of many isn’t the main strength of debt consolidation. Your goal is to take out a loan with better terms compared to the other ones. It’s only worth it if you’re paying a lower interest rate and have longer payment terms.

8. Check Your Budget

When debt piles up, you might need to revisit your company’s budget. That means you need to make a budget that fits your company’s financial situation. Ensure that the profits are enough to cover more than your usual monthly costs like utilities.

Set a portion of the remaining profit for variable costs. Once done, devote as much money as you can to pay off your debt. It’s especially important if you have credit card debt since you need to pay more than the minimum.

9. Seek Counsel

Making negotiations with your creditors are rarely a good experience. If your creditors aren’t as cooperative, you might need the help of a counseling group. These non-profit organizations often give debt-management advice to both individuals and small businesses alike.

The helpfulness of their advice depends on how worse your debt situation is. You might have some complicated debt issues to resolve. In this case, it’s better to check with a bankruptcy attorney and ask for their advice on the matter.

Get Out of Business Debt Today!

Being in debt isn’t a pleasant experience no matter how you look at it. But in some cases, you need to get into debt to ensure that your business doesn’t go under. The part most business owners have difficulty involves paying it back.

If you want to get out of business debt, try these tips. They’re not difficult to do, but it needs management skills and consistency. The process will be difficult, but the end result of being debt-free is worth all the effort.

Would you like to start a home business instead? Read this post and learn about the benefits of starting one. It’s far cheaper to run than paying rent for your business premises.

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