Active Duty Passive Income
BLOG

 

 

 

Refinancing with a VA Loan

Sep 22, 2020

How to Refinance with a VA Loan

The VA Loan is full of awesome benefits for veterans and service members. Among others, the no down payment option is a great opportunity to turn the dream of homeownership into a reality. In the current markets, it seems like interest rates can rise and fall like the tide –so what then? What if you need cash for home improvements? What is involved in refinancing a VA loan?

Two Types of VA Refinance Loans

1. Interest Rate Reduction Refinance Loan (IRRRL or VA Streamline Refinance)

2. VA Cash-Out Refinance

VA IRRRL

The VA IRRRL can benefit you if you currently have a VA mortgage. By using this option, you will refinance to a lower interest rate or you can switch to fixed-rate from an adjustable-rate mortgage. If you’re looking for cash-out from your home equity, this option isn’t for you.

When borrowers use the VA Streamline Refinance to lower their interest rate, this can also reduce monthly mortgage payments. Not only this, but...

Continue Reading...

4 Important Insurance Considerations for New Homeowners

Sep 17, 2020

4 Important Insurance Considerations for New Homeowners

 

Buying your first home is an important step in life, and whether you plan to sell, rent, or live in the place--there is no denying that there are many topics to take into consideration. Of course, one of your top priorities should be to find the right insurer and the best insurance plan for your long-term needs. Aside from getting a term life insurance policy to protect yourself and your loved ones, you should also insure your home and all of your assets to safeguard your investments from harm. After all, you never know what might go wrong the moment you move in--and the last thing you want is to pay for a cumbersome repair job out of your pocket after buying a property.

 

That’s why we’ll be going over the key steps you need to take to insure your new home and all of your assets, preferably without breaking the proverbial bank. Here are the important considerations you should keep in...

Continue Reading...

What is an LLC Operating Agreement?

Sep 09, 2020

A limited liability company (LLC) operating agreement is an important document that every LLC should consider creating. In fact, in some states, this agreement is required to do business. When creating your LLC operating agreement, be sure to include the following information:

9 Elements of an LLC Operating Agreement

  1. Business Name
  2. Business Purpose
  3. Terms of Agreement
  4. Ownership
  5. Management
  6. Member and Manager Responsibilities
  7. Allocation of Profits, Losses, and Distributions
  8. Books and Records
  9. Limitations on Liability and Other Legal Additions

A limited liability company operating agreement is an important legal document that details the agreement between the owners. In a single-member LLC, an operating agreement is still used to separate the company from the individual and is therefore essential for liability protection. The LLC operating agreement is similar to the bylaws that a corporation creates to provide more detailed specifications on business operations.

 

Depending on the...

Continue Reading...

Why You Should Liquidate Your IRA

Sep 01, 2020

I Liquidated My IRA--and Why You Should Too!

I established my Roth TSP as soon as I could after I joined the Army (for those non-federal employees, a TSP is a retirement account, the equivalent to a 401(k) or other IRA). I educated myself and immediately moved my allocations from the G Fund (extremely conservative) to the C and S Fund (aggressive). When the Department of Defense unrolled the Blended Retirement program in 2019, I enrolled immediately and have maxed out the matching program ever since. I was proud to see my retirement account increase--knowing that I was putting money aside now to support my family when I'm retired. I was very content with the wise advice, "set it and forget it."

 

BUT NOW- I am going against the grain--I LIQUIDATED ALL OF IT! 

The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act allows anyone negatively affected by the Coronavirus (see requirements here) to withdraw up to $100,000 from his or her retirement account...

Continue Reading...

3 Tips for Visualization in Real Estate Investing

Aug 25, 2020

3 Tips for Visualization as a Real Estate Investor

Visualization techniques are practiced by successful people who know their desired outcomes and strive to achieve them. Many achievers consider visualization a superpower. Visualization helps them to create their dream lives by fulfilling their goals and tasks. These goals are completed one at a time-- coupled with hyper focus and confidence. 

This superpower is embedded in everyone, but we do not know how to use it effectively. With the daily practice of visualization, it can rapidly accelerate your achievement of goals, dreams, and ambitions. Visualizing is a way to convince our minds that something is real when it is not.

Tips to Achieve Visualization as a Real Estate Investor

1. Set Your Goals and Check Your Vision Board Before Initiating An Action

A general goal such as "being happier" does not need visualization. You could be happy by changing your dreams and with small achievements too. However, visualization techniques...

Continue Reading...

What is a VA Loan?

Aug 18, 2020

 

What is a VA Loan?

Although some veterans and service members know about the VA loan, a surprisingly high percentage of them do not know about this awesome benefit available at arm’s reach. Here at ADPI, our entire existence revolves around educating and preparing veterans to use and understand their VA loan options.

The VA loan offers a wide range of benefits for veterans. It is a private lender-issued, federally-backed loan, and its purpose is to provide servicemembers and their families the option for home-ownership – made easier (and more possible!) by not requiring a down payment.

VA Loan Eligibility

To be eligible for the VA loan, borrowers must have a history of active duty service and have achieved a discharge other than dishonorable. Before they can use their loan benefits, veterans must have served a minimum of 90 days during wartime or 181 days during peacetime.

For those who are National Guard and Reservists, there is a 6-year duty requirement before...

Continue Reading...

The Small Business Guide to Charitable Giving

Aug 13, 2020

The Small Business Guide to Charitable Giving

Small businesses are anything but small; they make up the vast majority of the global economy, support hundreds of thousands of families, and have a major impact on the financial stability of every country in the world. That said, small businesses can also make a difference through their charity work and donations, especially when done with care and a strategic approach. Business owners who are new to the practice might not be aware of the many perks that come with charity work, but understanding the process and the benefits can help you find the best match for your business.

 

From the very beginning of your business journey and the moment you start your company, you can select one (or more) organizations that align with your values and support them with your presence as well as funds. Here are a few ideas to keep in mind when looking for the right way to give back to your community!

Finding a kindred spirit among charities

...

Continue Reading...

The Answer to "Should You Buy Term Life Insurance & Invest the Difference?"

Aug 04, 2020

Should You Buy Term Life Insurance & Invest the Difference?

If you’ve done even a little research on the pros and cons of Term and Whole Life insurance, you’ve almost certainly come across the phrase “Buy term, invest the difference.” The basic premise is that term insurance is cheap, whole life insurance is expensive, and if you buy term and invest the difference, you’ll be better off. Simple, right?

Not necessarily. Let’s unpack this a bit.

Term Life Insurance

Is term insurance cheaper when compared to whole life insurance? In a strict dollar for dollar sense, the answer is a clear yes. But, the question the savvy investor should ask is, “Why?” Are insurance companies offering you cheap term life insurance out of the goodness of their hearts? I think we can agree the answer to that is no. Here’s the reason term life insurance doesn’t cost the average, healthy, military age individual much money: somewhere along the...

Continue Reading...

5 Surprising Ways to Increase the Equity in Your Home

Jul 25, 2020

How to Increase the Equity in Your Home

Whether you’re a first-time homebuyer or an experienced investor, the decision to purchase a home should include questions about equity. If you’re planning on completing updates to the property, it’s important to know which upgrades are going to increase the value in the home. Any upgrades should be made based on adding value. So, the question remains: Which updates will increase the equity in your home?

First, let’s take a look at the definition of home equity. According to Investopedia.com, it is “the real property’s current market value less any liens that are attached to that property.” So, the property’s current value – mortgage = the equity in your home. When deciding on a home purchase, multiple studies have shown that the top three amenities that buyers look for are things like: highway access, walking/jogging/bike trails, and sidewalks on both sides. Proximity and availability of...

Continue Reading...

5 Ways to Attract Top Quality Tenants in a Tough Real Estate Market

Jul 16, 2020

How to Attract Top Quality Tenants in a Tough Real Estate Market 

One of the keys to real estate investing success, whether you are investing in commercial or residential properties, is acquiring and retaining top-quality tenants. These are the people that will take care of the property, the people who always pay their rents on time, and are generally easy to deal with on a daily basis. They are the people who will help your investing business thrive and recommend your other properties to their friends and business partners. Of course, finding this type of long-term tenant is often easier said than done, especially during an economic downturn caused by a global pandemic.

 

But that doesn’t mean that you’re powerless to build a successful real estate business. If you're operating in a difficult real estate market, there are some proven tactics you can implement into your strategy to appeal to the best tenants in the region and inspire them to...

Continue Reading...
Close

50% Complete

What's Your Best Email
So We Can You A FREE Copy Of The Military House Hacking eBook?