Many people have interests that double as a true passion. In fact, so passionate that they carry out tasks associated with this passion without any compensation. Often times we face barriers that may prevent us from living in our real passion. The most common barrier is money. You may want to start a non-profit organization, a charity fund or just volunteer your free time to those in need. The problem is that we need money to survive and the time we would allocate to that higher purpose is consumed working to make ends meet.
For the last four months, I have been looking for commercial lenders to perform a cash-out refinance on my single family investment property. Throughout the process I have consulted with several lenders at smaller banking institutions. To this point, I have had less than stellar luck, getting denied for this or that. Finally, an investor buddy of mine gave me contact info to a prominent credit union in Philadelphia. After speaking to the business relations manager I knew I was dealing with a company that wanted to do business with me. He immediately sent me an application and the ball was rolling from there. I was approved for the cash out refinance at 70% loan-to-value of my property and should closing in the coming weeks.
Jay Morrison, Real Estate Investor and Community activist launched The Tulsa Real Estate Fund or TREF on June 1st. TREF is a black owned crowdfund aimed at “buying back the block” in an effort to regain ownership in black communities. In its first week the fund managed to accumulate just under $10 million which is very impressive. Anyone is able to join for just $500 or 10 shares. Members who joined from June 1st through the June 19th will be honored as founding members.
How often do you think to yourself about something you know you should be doing to make your life better, but you just fail to carry through with the action? This is how many people treat their emergency fund for whatever reason and I just can’t seem to understand it. I recently had a personal experience where my emergency fund saved me from further trouble. It happened on a typical weekend out. I went from enjoying myself, to being quite disappointed in a matter of minutes.