Founded in 2004 by Joshua Dorkin, this thriving online community has become the go-to resource for millions of real estate enthusiasts in the U.S. and around the world.

With over 3 million registered members, BiggerPockets offers unparalleled access to expert advice, networking opportunities, and educational content—all designed to help you succeed in real estate investing. In this review, we'll explore the platform's key features and how it continues to revolutionize the industry.

How BiggerPockets Began

The original idea behind the website was to create a space where real estate investors could ask questions, get answers, and exchange ideas without the information being twisted by sales pitches and propaganda.

Over the past decade, the website has generated an enormous following. Here are some recent statistics on the site, as of July 2024:

• Approx 3 million monthly unique visitors
• Over 3 million registered members
• Nearly 7 million forum posts, with hundreds added each day
• Highest Rated Real Estate Podcast on Apple Podcasts

These stats are a pretty clear indication that people see the value in BiggerPockets.

In my years as a real estate investor and content creator, I've seen a few other websites attempt to create this kind of “online community for real estate investors.” Still, none lasted more than a few years or made anywhere near the impact of BiggerPockets.

As a real estate blogger, I know what a massive undertaking it is to create and maintain a website that people care enough about to visit again and again.

BiggerPockets enabled users to create detailed profiles, connect, send direct messages, and publicly discuss questions, issues, and ideas on the BP forum. This is similar to how most social media platforms work, but it's geared specifically to real estate investors.

My Experience With BiggerPockets

I discovered BiggerPockets in November 2012, so I've seen how the community has grown and matured.

I've spent many hours in the forums, listened to many of their podcast episodes, contributed to the BiggerPockets Blog, and was even featured on the BiggerPockets Podcast back in the day, so I can say without question that it has been an invaluable resource in my years as a real estate investor.

Whatever your niche in real estate, there is a high likelihood that you'll find legitimate answers if you ask a question in this community.

Of course, you still need to take all information with a grain or two of salt because feedback from strangers on a forum isn't always reliable. Still, at the very least, you're likely to get some decent insights from people who can look at your situation from a different perspective and most likely don't have a hidden agenda to sell you something.

While BiggerPockets delivers a lot of value for free, they do sell some stuff, too.

On the BiggerPockets website, you'll find upsells for pro memberships and books, among other things. However, they've done well at offering these things in a way that comes across as secondary, value-added resources.

The typical user can navigate through the website and get what they came for without being bombarded and distracted by hard-selling sales pitches we're accustomed to in the real estate industry.

Where The Value Is At

In my opinion, the real “meat & potatoes” of BiggerPockets can be boiled down to four pillars:

• BiggerPockets Forum
• BiggerPockets Podcast(s)
• BiggerPockets YouTube Channel
• BiggerPockets Blog

This is where you'll find most of the free value, and you can legitimately learn a lot and make meaningful connections with others.

However, BiggerPockets goes FAR beyond these three things.

If you spend some time on the site, you'll find an overwhelming amount of information and resources to learn from. Everything from interactive calculators, webinars, their online marketplace where you can list and find deals, conferences and local meetups, and so much more.

While there is more to discover than anyone could ever see, let's focus on the pillars I mentioned above.

The Forum

In my experience, this is where most of the magic happens.

The forum is extremely well-moderated, easy to use, and full of investors with decades of experience.

If I had to guess, I would say this is how most people discover BiggerPockets. With over 3 million members and almost 7 million forum posts, this community has covered almost every conceivable topic a real estate investor would care about.

For newbie investors trying to figure out the business and learn from real investors making it happen, this is a great place to form new relationships, even if they're across the world.

The folks at BP are well aware of the real estate gurus of the world, and they are adamant about defending their space from any sales pitches or spammers. If you're heading into this community to find customers to buy your stuff, you'll have a hard time with that unless you're ready to build real relationships, contribute meaningful ideas to the discussion, and prove your value the old-fashioned way.

Given how abundant and intrusive these kinds of “pitch-fests” have become in real estate investing, the moderators' attention to this forum is completely necessary and highly effective.

The Podcast

I remember when the BiggerPockets Podcast first hit the scene. Josh and Brandon were co-hosts who brought great energy to each show.

Fast-forward over a decade and BiggerPockets now has several podcasts, which are all kind of a big deal. They regularly rank in the Top 100 Business podcasts on Apple Podcasts.

Most episodes focus on interviews with various industry experts, some of whom are more well-known than others.

The other BiggerPockets podcasts explore various offshoots, like the BiggerPockets Money Podcast, which focuses on personal finance, and the BiggerPockets Rookie Podcast, which is directed squarely at beginners.

Many guests are chosen from the BiggerPockets community, which contains many experts in various real estate niches.

As with any podcast, some episodes will resonate more than others (depending on your specific areas of interest), but based on the ratings on Spotify and Apple Podcasts, these shows are a hit.

The YouTube Channel

Given BiggerPockets's reach, it should be no surprise that they also have one of the largest YouTube channels focusing on real estate investing.

Between their various podcasts and other content creators, they manage to publish a new video just about every single day, which is an impressive feat!

If you spend a lot of time on YouTube, you could find yourself endlessly entertained by this channel alone. It stands alone, apart from the main BiggerPockets website.

The Blog

When I first discovered BiggerPockets years ago, there was one blog where real estate experts contributed their thoughts and opinions weekly. The content from this blog continues to be picked up regularly by major news outlets like Reuters, Fox Business News, NPR, Bloomberg, the Washington Post, and others.

Nowadays, the site also hosts tens of thousands of user-generated blogs with varying levels of depth and quality.

It's been interesting to see how the landscape of online content consumption has changed over the past decade. The growth of social media platforms, the surge in video content, and changes in SEO and Google algorithms have affected the popularity and readership of blogs.

Despite these changes, blogs still hold value, especially for in-depth analysis of niches like real estate investing, where detailed content is appreciated.

BiggerPockets: Through the Lens of a Real Estate Blogger

I must say, I greatly appreciate the resource that BiggerPockets has been to me and many others. I also appreciate what this community stands for in the real estate investing world.

The beauty of BiggerPockets is that it isn't designed to push any person's agenda.

The community does have a certain culture that has evolved over the years, but it allows everyone to have a voice, and if someone disagrees with someone else, they're allowed to say so.

It's easier for people to keep each other honest when there are checks and balances.

If one of the writers publishes something in a blog post, it doesn't make them the “ultimate authority” on a subject. Similarly, when someone boldly proclaims their opinion in the BiggerPockets forum, it doesn't mean they won't be questioned if their statements don't add up.

Are there things about the site that could be improved? Of course. However, given everything this website has done for real estate investors over the past two decades, it's hard to nit-pick and find problems with their service (which is mostly free, I might add).

If you haven't explored the BiggerPockets community yet, you should!

Wherever you are in your real estate investing journey, I'm willing to bet you'll find something worthwhile there.

The post BiggerPockets: A World-Class Resource Every Investor Should Be Using appeared first on REtipster.

However, it can get complicated for someone without experience underwriting and administering loans.

The devil is in the details. Each seller financed deal has a lot of information to keep track of, and I've seen A LOT of folks stumble along the way.

This is why I created the Seller Financing Masterclass—to help you master seller financing and make it work for you.

What Is the Seller Financing Masterclass?

This course is a living, breathing resource that will explain all the essential concepts you need to understand when buying or selling real estate with owner financing.

I made this course because I recognized the need for a complete, comprehensive education that was easy to understand and didn't leave any giant information gaps throughout the material.

What You'll Learn in the Masterclass

The course is divided into six modules, with more lessons and bonuses on the way. Here's a peek at what you'll find if you enroll:

Module 1: Seller Financing 101

We start with the basics, defining key terms and concepts so everyone's on the same page.

In the first module, I explain the foundations of seller financing, explore its benefits and potential drawbacks, and help you decide if it's the right tool for your situation.

We’ll touch on the key terms you need to know because if you don't understand the language of seller financing, the concepts will feel more confusing than they need to be.

Module 2: Underwriting and Loan Origination

This is where things get exciting.

In module two, we'll thoroughly review the underwriting and loan origination process, learning to assess borrowers and ensure they're a good fit for your seller-financed deals. We'll cover the importance of underwriting, how to evaluate potential buyers and the different types of loan documents you'll need.

Underwriting is a tricky beast, so I've brought in two heavy hitters: Max Bailey from CalltheUnderwriter.com and Eric Scharaga, author of Lienlord and Founder of Damen Capital Management. Our two experts offer the best advice on qualifying buyers, mitigating risk, and ultimately making the deal work for you.

Module 3: Closing the Deal

Closing seller-financed deals is much more convoluted than closing a simple cash transaction, so I designed this module to cover everything there is to know about closing the deal.

I'll walk you through the entire process and each document, explaining what it is, why you need it, and what to look for. I don't explain these details so that you can close your deals; I explain them so you can understand what your title company or attorney is doing when they close the deal.

We'll cover the importance of having a good title company, how to handle escrow, and what to expect at the closing table. We'll also discuss state-specific regulations and the importance of using the correct documents to protect yourself.

Module 4: Collections and Foreclosures

Once the deals are closed, it's time to manage them effectively.

In module four, we'll cover the often-overlooked aspects of collections and loan servicing. We'll also discuss various methods for a “set-and-forget” payment collection system to ensure a smooth and predictable income stream.

And yes, we’ll also tackle the sometimes unpleasant topic of foreclosures. This is where things can get messy if they aren't documented correctly from the beginning. It's also essential to have systems to handle delinquent payments and what you can do as a last resort to get your property back.

Module 5: Buying With Seller Financing

Many land investors only think of owner financing as a way to sell their properties, but there is also a whole other world of using seller financing to buy properties as well.

In this module, we'll explore strategies for buying properties with owner financing, opening up new possibilities for acquiring deals you might not have considered before. We'll also discuss the negotiation process with sellers and how you can present a compelling offer to benefit both parties.

Module 6: The Note Business

Did you know you can sell off your seller financed notes to other investors?

This module offers a deep dive into this exit strategy for seller financing. Whether you're selling off your notes or buying existing ones from other real estate investors, understanding this aspect can open a lot of new doors in your business.

We'll cover the different types of notes, how to value them, and how to sell them. We'll also explore the world of paper assets, including how to create and sell notes.

Even if you sell a property with owner financing and you have no intent to sell off your note, it's still important to know how to originate your loans the right way, so they're worth the highest possible value. This will help you make more money if you ever decide to sell them, and if even if not, this will help you create a much higher quality note portfolio you can depend on!

Bonus Resources and Support

On top of the core modules, you'll get access to a treasure trove of bonus resources:

• Mortgage Calculator: One of the most powerful tools in the course is the REtipster loan calculator. Use this tool to help calculate the numbers on any deal. Just plug in the numbers, and it'll give you a breakdown of the cash flow, ROI, and more.
• REtipster Podcast Episodes: Dive deeper into seller financing and notes with hand-picked interviews from the REtipster Podcast, where we've talked with industry experts who can share loads of insights about seller financing and the note business.
• Creative Financing Forum: Connect with other investors, ask questions, and learn from their experiences in the creative financing category of the REtipster Forum.
• Downloads and Assets: Access valuable checklists, calculators, and other resources to support your journey.

Take the Next Step

Many investors jump into seller financing without fully understanding its complexities. This leads to costly mistakes and missed opportunities.

You can avoid all of that with the Seller Financing Masterclass while taking your land business to the next level.

Here's what you can expect:

• Learn from the best. I've interviewed leading experts to bring you their insights and proven strategies.
• Avoid costly mistakes. Understand the common pitfalls and how to navigate them effectively.
• Get the right tools and resources. Access valuable calculators, checklists, and a supportive community.
• Become a confident seller financing pro. Master the art of structuring deals, managing your portfolio, and navigating the note business.

By the end of this course, you'll have a comprehensive understanding of seller financing and the tools you need to succeed. You can confidently identify and negotiate deals, structure financing arrangements, and manage your portfolio.

If you're ready to take your real estate investing business to the next level, you can enroll at SellerFinancingMasterclass.com.

Remember, mastering seller financing can transform your real estate investing game. Instead of flailing through seller financing blindly, why not set yourself up for success? Get a headstart today. I'll see you in the course!

The post Seller Financing Masterclass Review appeared first on REtipster.

Get Started With Fundrise

In 2017, I made a video and blog post explaining how Fundrise works.

As part of this review, I decided to invest $1,000 of my own money with the company so people could see exactly how it worked, and we could check in on that investment each year to see the results.

Since then, I’ve been tracking the progress and returns from that investment by putting together annual video updates showing the dividends and how much the money has grown.

My goal with these annual reviews isn’t to convince anyone to invest with Fundrise. My goal is to inform you of this investment strategy and the unique fact that you don’t need to be an accredited investor to participate.

What Is Fundrise?

Fundrise is a real estate investing platform that allows investors to invest smaller amounts of money into not a single property, but into “pools” of real estate.

It makes real estate investing accessible to a broader audience by allowing investors to contribute smaller amounts than traditional real estate investments.

People invest with Fundrise mainly for convenience, lower entry costs, and the potential to earn passive income through real estate. Real estate is often considered a stable investment compared to more volatile markets like stocks.

The First Year With Zero Principal Left

After withdrawing my original $1,000 principal investment in 2022, this is the second year I've seen how the remaining re-invested dividends continue to grow (or shrink) on their own.

Of course, my investment performance doesn’t determine YOUR returns if you decide to invest with Fundrise. Every eREIT performs differently, and the performance will vary each year.

Even so, this review will offer insights into how Fundrise performs as a company, specifically compared to other investment options like the stock market, mutual funds, or similar websites.

It's a lot of fun to see the actual returns on this investment and not just a theoretical picture of what's supposed to happen.

Fundrise Performance Update for 2024

When I first invested my $1,000 six years ago, I told Fundrise to automatically reinvest all of my dividends (rather than sending them to my bank account). This is a big part of why $752.78 of “value” is left in the account. This number would be substantially lower if I didn't reinvest these dividends.

Get Started With Fundrise

As of April 22, 2024, the leftover funds after withdrawing my original $1,000 investment (with all dividends automatically reinvested) haven't done particularly well.

Runaway inflation, followed by continued higher interest rates, has taken its toll on the U.S. real estate market, and it shows in its performance over the past year. This is the second year I've ever seen any of these numbers go backward, and I wouldn't be surprised if this trend continues in the short term.

2021 was the best year at 20.4%, and 2023 was the worst at (12.6%). So far, 2024 seems to be on a slightly better track. I doubt it will be a stellar year, but we won't know until the year ends.

The screenshots above were taken on April 22, 2024 (a few days after I recorded the video above). April 22 isn't even a full four months into the 12-month calendar, which is part of why the 2024 year-to-date earnings look disproportionately smaller compared to the previous years.

Is 71.3% a decent return over the past seven years?

Considering I spent no time or energy stressing over property managers, tenants, contractors, lenders, or anything else, I can't say I'm disappointed.

I certainly could have made much more money over this time if I had put this money into my land investing business, for instance, but the advantage of something like Fundrise is that it's passive.

The more lucrative real estate investments typically require much more thought, effort, and risk, whereas something like Fundrise. At the same time, it has its share of risk, too (as we saw in 2023 alone), and requires absolutely no time or energy from me, which is a nice advantage.

Fundrise's appeal isn't in the high returns. The appeal is the passive nature of this investment and the fact that it requires nothing besides the initial dollars I put into it.

RELATED: What Is “Passive Income” Exactly?

The Biggest Drawbacks to Fundrise

As many people have mentioned in the YouTube comments over the years (and I would have to agree), the biggest drawback to investing with Fundrise is the fact that I can't quickly or easily cash in my shares before the five-year holding period unless I want to pay the penalty for redeeming the shares early.

This five-year penalty also applies every time I automatically reinvest my quarterly dividends. For example, if I reinvest a dividend in year three, I have to wait five years from the date of that investment before I can redeem those shares. So, it creates this constant five-year waiting period every time new dollars go into their system.

When you compare this lack of liquidity with the stock market, Fundrise looks less appealing.

On the same coin, there is something to be said for diversifying your investments into the real estate sector instead of staying strictly with the stock market, as most “normal” investors do. Even if the returns aren't substantially higher, there is value in simply having your dollars spread out among different asset classes.

Should You Invest With Fundrise?

I'm not here to give you investment advice; I'm here to share my Fundrise investment story so you can understand the real-world consequences (for better or worse) of investing in these kinds of eREITs.

If you're wondering whether this is a good time to start with Fundrise, I think there is something to be said for entering something like this during a down cycle, which we seem to be in the middle of and possibly coming out of. Again, it's difficult to say for sure at the time of this writing).

Fundrise seems well aware of where things are at and where they seem to be going. You can find this in their Newsfeed, where they regularly post their findings, research, and explain how things are going.

It's important to remember that while Fundrise offers an accessible and comparatively low-effort way to dip into real estate investing, it's not without its risks and limitations, particularly in liquidity and fluctuating returns.

Get Started With Fundrise

Whether you invest with Fundrise or not, make sure it aligns with your financial goals and risk tolerance.

Stay curious, stay informed, and, as always, invest wisely.

The post Fundrise Review 2024: What Happened to My $1,000 Investment After 7 Years? appeared first on REtipster.

One of the most important best practices for any new business owner is to keep personal and company finances completely separate. Not only does it help stay organized, but mixing the two can cause all sorts of legal and tax issues down the road.

When I started my first business and began sorting out my banking situation, I thought,

“Do I use my personal account? Maybe I should open something new at the same bank?”

When I tried opening a business account with the same bank where I had my personal accounts, I quickly realized that most banks aren't great for small businesses.

Anytime I wanted to do something even slightly outside the norm, like open a new account, it felt like an ordeal. And don't even get me started on all the random fees they charged!

Some banks and credit unions may be fine for personal use, but that doesn't mean they're set up to best serve the unique needs of a small business owner.

The Search for Business Banking Begins

Clearly, I needed to find a better banking solution tailored to my needs. But it seemed like every bank had some kind of drawback, whether it was high minimum balances, fees for everything, or just not having the tools I needed to manage my finances properly.

You might be tricked into thinking you have to compromise, but that's why you need to know about Relay.

At first, I wasn't sure what exactly they were. A bank? Not quite.

What Is Relay?

Relay is a business banking and money management platform. That may sound like a mouthful, but it’s basically a service where you manage your money and decide where it will sit. It allows you to manage your business’s cash flow and clearly understand what you’re earning, spending, and saving.

If you’ve seen our review of Mercury, Relay is a similar concept. While Relay itself is not a bank, your money is FDIC-insured through its banking partner, Thread Bank. Like Mercury, Relay is completely designed for startups and has no physical branches.

And here’s the kicker—for most intents and purposes, it's fee-free!

There are some random things that come with very minimal fees (like domestic and international wires), but even then, it's very cheap (we're talking $5-$10). Otherwise, any transaction you make with Relay is free, there are no minimum balance requirements, and their website and mobile app are a joy to use!

Getting Started With Relay

Everyone appreciates simplicity and ease, and Relay does this by making account creation as easy and as straightforward as possible. You can do everything completely online, whether you’re on a computer or your phone. Relay has an intuitive mobile app that allows you to do everything you need without switching to another app.

But unlike other banks that make the signup process feel like you're renewing your driver's license at the DMV on a busy Monday, Relay has turned this into an easy, seamless, interactive experience with questions and little prompts. You can sign up in less than 10 minutes, and I was shocked at how it almost felt fun.

Setting up your business profile and linking to an existing, outside bank account is also incredibly smooth. Relay integrates seamlessly with popular accounting software from the get-go, such as QuickBooks or Xero. The ability to easily tie everything together in one place will be a huge relief for you and your accountant.

Plus, this integration is also optimized for accountants and bookkeepers since Relay has a few features that make it easier for these professionals to use the platform. If you want to get paid (or pay someone using Relay), it also integrates with many leading payment processors like PayPal, Stripe, Gusto, and others.

Check out this video where I recorded myself setting up my account with Relay, and you'll see how easy it is!

Get Started With Relay!

The process might differ slightly if you’re not a U.S. citizen or resident, but it's not difficult. You just need your employer identification number (EIN) and LLC registration.

Compare this to traditional banks, which require a social security number and a physical visit, and you’ll wonder why most banks aren’t doing it this way.

RELATED: How to Start Your LLC (It’s Easier Than You Think!)

Features That Won Me Over

As I started using and exploring Relay more, I discovered many features that blew me away.

Being able to open up to 20 checking accounts and two savings accounts with one click was amazing, especially considering how hard I've seen other banks make this process.

And since it’s easy to open a new account in seconds, it can save you a ton of time when you own multiple properties in one LLC, for example.

This ease is also a match made in heaven for cash flow frameworks that use multiple accounts, such as Profit First. Which is funny, because Relay is the actual banking partner of Profit First, and you can see why—it’s made to automate percentage allocations every week, for instance, as you adjust your earnings and pay yourself first.

On that note, one of the hardest things about implementing Profit First is manually transferring money around to different accounts when each deposit hits your main account each day, week or month. Well, Relay has basically solved that problem with the different automations you can set up to happen whenever you want, and for however much you want transferred around to whichever accounts you want!

If you use Profit First in your business, you are going to LOVE Relay!

Get Started With Relay!

One downside of using most online banks is that it can be harder to work with cash because there isn't a bank branch nearby that you can visit whenever you need to.

While Relay doesn't have any branch locations, it is connected to the Allpoint ATM Network, which means you can withdraw cash from any Allpoint ATM location and even deposit cash into your bank account if you can find an Allpoint Plus ATM location!

You can find your nearest Allpoint ATM here.

Customer Support

Finally, if you ever get stuck on anything, you can talk to someone by phone if you need help (and this alone is a big deal).

Some software companies leave it to chatbots, or at the most, they might give you an email address they'll respond to within 24 hours on business days. But Relay has an actual manned customer service department. They’re in Canada, though, but interestingly, Relay’s banking partners are all in the U.S.

A Few Growing Pains

Now, Relay isn't without some limitations. One limitation is that check-writing functionality hasn't been rolled out yet. I hear it’s in the pipeline, but there’s no scheduled release for this feature as of this writing.

But if you need to send checks, you can order them from your Relay dashboard and mail them to your recipient, which can take 8–10 days, or you can simply get a company credit or debit card through Visa and pay your recipient this way.

They also implement transfer limits for new users. This is a security measure rather than a limitation, which should deter bad actors from using the platform to set up illegitimate or illegal businesses. You can always ask for an increase in transfer limits as you use the service properly, but the initial transfer limits may take some time to get used to.

Another potential drawback (depending on what you're looking for) is that if you’re looking for financial products like mortgages or HELOCs, Relay can't help you. I’m not sure if Relay will offer these kinds of banking products in the future, but if you’re looking for something like that, you'll have to shop around for a traditional brick-and-mortar bank or credit union instead.

The Bottom Line

After using Relay, I can confidently say they’re leveling the playing field. Handling finances is now streamlined and easy, and if you're a new business or tech company that rarely has a reason to visit a local bank branch in person, it's hard to think of many reasons not to consider something like Relay.

And I think many people on the internet agree. That said, while general sentiment has been positive, it doesn’t mean Relay has no critics. It remains to be seen how well they can continue to provide excellent service and value to their customers over time. But in my experience, Relay is an incredible service, and its customer support team is incredibly responsive and helpful if you find gaps in what they're offering.

And if you’re wondering, is there a special promotion going on right now with Relay? The good news is that there is! Click through the REtipster affiliate link to open an account. If you deposit at least $100 into your new account, Relay will give you an extra $50 for free.

Get Started With Relay!

If you’re going to open an account with Relay anyway, why not get some free money from the deal?

Before you go…

Relay is a solid option, but there are a lot of money management solutions out there. If you're curious about some alternatives worth considering, check out my review on Mercury, which offers a similar set of advantages with a few distinct differences.

The post Why Everyone Is Switching to Relay: Uncover the Hidden Benefits appeared first on REtipster.

Take me, for example. I invest in real estate for cash flow, growth in value, diversification from stocks, and protection from inflation, among other reasons. And while precious metals offer three of those four, they’ve never offered cash flow.

That’s the beauty of Monetary Metals: it puts gold and silver to work to earn income.

If you like the idea of diversifying into alternative investments beyond real estate, read our full review below.

What Is Monetary Metals?

Monetary Metals is a market-maker that connects investors with companies that use precious metals in the course of their business. Examples include precious metals dealers, refiners, recyclers, jewelers, mints, and mining companies.

These businesses lease gold or silver from Monetary Metals—or more accurately, from you. You own the metals and simply lease them for use.

In exchange for leasing your investment metals, you collect interest. Think of it like a loan, except instead of lending dollars, you lend your gold and collect interest, also in gold.  Monetary Metals finds the lessees and alerts you when new leases become available. You choose an amount to invest in any given lease or wait for the next one to come along.

Alternatively, Monetary Metals sometimes opens gold bonds for investment. The bond issuer borrows gold and repays you in gold. Gold bonds on Monetary Metals are only available to accredited investors, however.

How Monetary Metals Works

After creating an account and verifying your identity, you can then add gold or silver to your account in one of two ways:

• You can buy metals directly on the platform (after wiring funds to your account).
• Ship your physical gold or silver (free of charge under certain conditions).

The company earns money by charging a premium to lessees (usually 2% above the marketed interest rate) and not through vault fees.  In other words, you don’t pay Monetary Metals—the company leasing the gold does.

On the other hand, you invest by browsing available leases and bonds. Each investment option displays the offered interest rate, the term, and the repayment frequency. Most leases pay monthly interest, but some pay quarterly.

Here’s what an actual account statement looks like:

When the lease ends, you can typically renew to reinvest with the same lessee (or not, if you’d rather withdraw your metals). In fact, you can usually withdraw your metals even mid-lease, because most leases oversubscribe. If you want to pull your gold out early, most often there’s a waiting list of other investors happy to step in.

Of course, that cuts both ways. When nearly every lease oversubscribes, that indicates a scarcity of investment options—more on that later.

Pros of Monetary Metals

Monetary Metals has a lot going for it.

Consider the following highlights that Monetary Markets makes for its platform:

No Vault or Management Fees

One of the downsides of owning physical metals is that you have to store them somewhere safe (read: totally not under your mattress).

Not a safe space to store anything in, guys.

The trouble is, plenty of banks and online vault services offer to store your gold or silver for you—at a cost. That cost eats into your returns. Many investors skirt the storage issue by investing in exchange-traded funds (ETFs) that own metals. But they simply swap one set of fees for another with annual fund fees.

Monetary Markets doesn’t charge any vault, storage, or management fees to hold your gold.

Interest Net of Fees

When you browse available investments on Monetary Metals, they advertise a specific interest rate. That’s what you earn, with no fees diluting it.

Monetary Metals charges a separate fee to lessees to create revenue, usually 2%. For example, at the time of this writing, Monetary Metals offers a silver lease paying 5% to investors. Presumably, the lessee is paying 7% total to lease that silver: 5% to the owners and 2% to Monetary Metals.

Perfect Track Record

Monetary Metals has batted a thousand on their leases and bonds—no investment has ever lost money.

For that matter, no investment has ever failed to pay interest. Of the 55 metals leases they've executed, every single one has repaid in full, with interest. The same goes for their gold bonds.

That doesn’t happen by accident. Monetary Metals has put strong protections in place to prevent losses.

Loss Protections

To begin with, Monetary Metals requires that lessees buy insurance policies protecting all leased metals. And that these policies list Monetary Metals as the beneficiary in the event of a claim. Monetary Metals also buys supplemental insurance as an additional layer of protection.

They further require lessees to sign both corporate and personal guarantees on the leases. If they were to default, all company assets and the principals’ personal assets would be subject to collection.

Finally, Monetary Metals also keeps a close eye on lessee financials with direct portal access and regular third-party audits.

All investments come with risk, but Monetary Metals has systematically worked to shield against risk from multiple directions.

(Some) Liquidity

If you need to pull your metals out of an investment mid-lease, Monetary Metals can usually accommodate you.

Most investments oversubscribe between 2 to 4 times their capacity, leaving a long waiting list of investors ready to step in if another pulls out mid-lease. So while liquidity isn’t guaranteed, investors can typically recall their gold or silver in an emergency.

Free Shipping From Residential U.S. Addresses

Have gold in a vault behind a painting in your home office?

Gold is heavy and expensive to ship, but Monetary Metals foots that bill for you. They provide a prepaid shipping label from any residential address in the U.S. if you opt to fund your account by shipping physical gold or silver. And they insure the shipment so it doesn’t get “lost in the mail.”

Interest Paid in Kind

You earn interest on the metal you invest, but not in U.S. dollars. Rather, on the metal that you've invested in.

For example, if you invest 100 ounces of gold in a lease that pays 5% interest, you’d close out the year with 105 ounces of gold. It doesn’t matter if the value of gold went up, down, or in squiggly lines that year—you collect interest in gold.

Completely Passive Investment

Once you click the “Invest” button, you don’t have to lift a finger again.

Which is something I’ve come to value more and more as I get older. When I was in my 20s, I had no problem with running around looking at properties, negotiating with contractors, screening tenants, or hassling with lenders, inspectors, and property managers.

Actually, that’s not entirely true; it was a pain even then.

But today, I only invest passively. That goes for real estate investments such as crowdfunding platforms and syndications, and it goes for stock index funds. And that’s why Monetary Metals is right up my alley.

Cons of Monetary Metals

All investments come with drawbacks and risks. So what are Monetary Metals’?

Lack of Investment Options

At the time of this writing, Monetary Metals only has one open investment: a silver lease. There are no gold leases or bonds available.

And when investments do become available, they typically oversubscribe quickly. That means you have to pay attention to email alerts from Monetary Metals and jump on investments ASAP.

It also means you just don’t have many options to choose from, limiting your opportunities to diversify.

High Minimum Investment

Monetary Metals requires a minimum investment of at least 10 ounces of gold or 1,000 ounces of silver.

In today’s prices, that comes to over $20,000 for gold or over $24,000 for silver. That’s not chump change, especially when most investors only put a relatively small percentage of their portfolio in precious metals as a defensive play. You can see how the price of gold per ounce has changed over the last decade below:

Gold prices over the last 10 years (adjusted for inflation). The gray bar in the middle represents the COVID-19 pandemic.

Metal Transaction Fees

If you opt to buy or sell precious metals directly on Monetary Metals’ platform, they charge a transaction fee.

Specifically, they charge a spread over and above the London Fix Price (or the spot price, depending on when the trade takes place). The spread surcharge depends on how much you buy or sell. Monetary Metals charges an extra 0.75% for transactions under $250,000, 0.55% for transactions between $250k to $1 million, and 0.40% for transactions over $1 million.

Risk Is Difficult to Determine

When you invest in a metal lease or bond, how do you know how risky the investment is?

Take the current silver lease offering. The lessee is AGA Bullion, described as “one of the largest precious metals companies in Turkey. AGA offers integrated precious metals solutions including assaying, refining, bullion trading, sourcing, logistics, and vaulting services. This lease will provide and finance their inventory.”

I don’t know anything about AGA Bullion—do you? For that matter, I don’t know anything about how difficult it is to recover money from a company in Turkey if something happens the insurance policy doesn’t cover.

As a layperson with little knowledge of the precious metals industry, I have little to go on besides Monetary Metals’ track record and the steps they take to limit risk. That makes it hard to assess just how much default risk comes with any given offering on their platform.

And that says nothing of the market risk of metal valuations dropping. But that’s a separate topic entirely.

How Monetary Metals Compares to Other Investment Platforms

I don’t know of any direct competitors to Monetary Metals or any other investment platforms offering precious metals leases and bonds. Still, we can still compare them to other alternative precious metals platforms or other real estate investment platforms.

Glint offers a debit card tied to your gold holdings. Every time you make a purchase, it deducts the value from your gold balance. It charges no transaction fees for debit card purchases in the U.S., and charges 0.5% for foreign transactions. That’s lower than the typical 1% to 3% foreign transaction fee for debit cards. However, Glint does charge a 0.02% monthly storage fee to hold your gold, which adds up in the long term.

For a more traditional gold storage option, Vaulted holds your metals for a 0.4% annual fee. You can buy and sell metals on the platform for a 1.8% transaction fee. And if you prefer, you can have Vaulted deliver your physical gold to you rather than store it for you.

Alternatively, you can invest in real estate crowdfunding platforms for fractional ownership of properties. Platforms like Arrived (full Arrived review) and Ark7 (full Ark7 review) let you buy shares in rental properties for as little as $20 to $100, and you get full cash flow, appreciation, and tax benefits. Arrived doesn’t offer liquidity, but Ark7 does offer a secondary market.

If you’d rather invest fractionally in larger properties, EquityMultiple (review) and Crowdstreet (review) let you do so. Expect higher minimum investments, but still potentially lower than Monetary Metals. That said, both restrict access to accredited investors and typically require long-term investments for equity.

Or you can invest in a fund that owns many properties, such as what Fundrise offers. You can check out our review in the YouTube video below.

Nor do the options end there. You can also invest small amounts in secured debts to earn fixed interest. My personal favorite option is Groundfloor (review), which has delivered remarkably consistent returns year-after-year averaging 9.5% to 10%.

Final Thoughts on Monetary Metals

To be candid, I’ve always been skeptical about precious metals as an investment. I don’t like the lack of income, and I don’t like how speculative it feels. The prices rise or fall based on fear of financial collapse or inflation, not based on the measurable value created by a company or property.

Monetary Metals makes a strong case for itself, however, by adding passive income to the returns on metals. It points to historical gold returns of 8.35% over the last 20 years, on top of which you can add 2% to 5% interest from gold leases or 5% to 19% on gold bonds.

Those combined returns sound spectacular for a “defensive” or “hedge” investment. But again, it’s hard to know for certain just how safe the gold leases or gold bonds are.

By all accounts, Monetary Metals has delivered on its promises of security. If you like precious metals as an investment class, check out their current offerings. Just be aware that you take on both default and market risks on the value of precious metals dropping.

The post Monetary Metals Review: Earn Passive Income on Your Gold & Silver appeared first on REtipster.

Or perhaps you've been on the fence about purchasing a piece of land, wishing you could get a comprehensive look at its layout and surroundings before deciding. Wouldn't it be helpful to see what it looks like from the sky?

Enter Droners.io—a game-changer in real estate visuals. This online marketplace is your one-stop shop to find and hire skilled drone pilots who can capture stunning photos and videos of properties across the US.

Whether you're looking to drastically improve your property listings or want an extra set of “eyes in the sky” for your due diligence process, Droners.io can help! Dive in with me as we explore how this platform can be a land investor's best friend! 🚁📸

Why Drone Footage?

In the world of land investing, presentation is everything.

While ground-level photos can capture the essence of a property, drone footage can give your properties a unique and visually stunning perspective that can elevate your listing above the other noise in your market.

Imagine showcasing a vast expanse of land from a bird's-eye view, highlighting its topography, neighboring properties, surrounding area, and other unique features.

Sure, anyone can snap a picture of a dense forest or an open plain, and sometimes this is enough (I've sold hundreds of properties this way). But when we're talking about LAND, a type of property many buyers will pay arbitrarily high prices for based on its presentation, isn't it worth a few hundred extra bucks if your property can sell faster or at a higher price (or both) with the added allure of drone imagery?

How to Get Drone Footage?

Do you need to buy your own drone and drive out to your own properties to get these pictures yourself?

I suppose you could. But in most cases, even if you own a drone, you can save a ton of time and money by hiring a local, commercially licensed drone pilot to get these pictures for you.

You can find skilled drone pilots on numerous platforms. Droners.io is the one I hear of most often, but there are others, like Thumbtack, Bark, and Craigslist, where you can find these professionals as well.

How Much Does It Cost?

The cost of drone footage varies based on the pilot's expertise, location, and specific requirements. Typically, pilots charge between $75 to $150/hr.

When I buy drone footage like this, I plan on spending at least $300 for the job.

There is usually an additional cost if you require additional editing, such as music or subtitles.

Basic packages might start as low as $100 on platforms like Droners, but you'll usually be paying $200 to $300 (even higher) for more involved projects.

What Instructions Should You Provide?

When hiring a drone pilot, clarity is key. Here are some pointers on what you might need to specify:

• Type and duration of footage (video, photos, or both).
• Editing requirements (music, subtitles, etc.).
• Desired quality (4K, 1080p, etc.).
• The exact address or coordinates for airspace restrictions check.
• Preferred timeframe or specific time of day.

For a detailed example of how to provide instructions, you can download an example right here!

When Should You Get Drone Footage?

The best time to get drone footage is after you get a signed contract from the seller but before closing the deal.

This timing allows you to use the footage for due diligence and when you create your property listing to sell.

While your property might look perfect from a satellite map, satellite pictures usually are not up-to-date. You could be looking at pictures from years ago, which tells you little about what the property looks like today.

Likewise, even if you hire a local photographer who takes pictures from the ground, these photos won't always show you what the neighboring properties look like, and that's where drone photography shines.

By ordering drone videos and photos during the due diligence phase, you'll be equipped with all the information you need and ready to market the property immediately after you purchase it!

Tricks of the Trade

Identifying your exact property boundaries in drone footage can be tricky, especially if the property is landlocked or lacks clear boundary lines in the nearby landscape.

To help potential buyers, consider asking your drone pilot to edit your video to include parcel lines or point out landmarks on your subject property.

While some drone photographers offer this as an added service, you can do it yourself using Google Earth and include this as an image or a supplement in your video. I'll explain how this works in this video:

This added touch enhances the viewer's experience and clarifies the property's dimensions and boundaries.

RELATED: 10 Google Earth Hacks Every Real Estate Investor Should Know

Conclusion

While drone photography isn't a strict necessity for every land deal, it's hard to deny this is a valuable visual asset that can significantly enhance your property's appeal to buyers. Not to mention, it can inform you about the property before you buy it!

Whether you're using it for due diligence or to sell your properties faster, the bird's-eye view from a drone offers a unique perspective that ground-level photos just cannot match.

The post Droners Review: Elevating Your Land Listings With Drone Photography appeared first on REtipster.

Sound familiar?

I remember the steps I had to go through when setting up my first business bank account. I had to visit my bank branch in person and fill out a small pile of paperwork, and the online banking system I had access to was archaic, with a mobile app that was clunky and cumbersome to use.

That was years ago before I knew of a better option.

Luckily, I found a new way to get through these steps in minutes without leaving my computer.

But before we get into that, why is it even an issue to begin with?

Why does it even matter that you have a business bank account? Can’t you just pour all your business’s earnings into your own personal bank account?

The Importance of a Separate Business Account

When you start a new business entity, having a separate business account is crucial, where all of your company's income and expenses flow separately from your personal bank account. Failing to do so can leave you open to tax and liability issues.

This is one thing many business owners found the hard way, so it’s NOT a good idea to skip this step.

But the question is—where should you open your business account?

Most people might assume they should keep working with the bank where their personal accounts are held, and this could work if you're already dealing with a good bank… but not all banks are created equal.

I learned the hard way that a good personal bank is not always the best fit for running a business. Many don't even have the best track record for being easy or cost-effective to work with.

What Is Mercury?

For the past few years, I've been hearing about this banking platform called Mercury, which is a digital-first banking platform built for startups.

Mercury's online banking platform simplifies and streamlines your business banking process, allowing you to focus on what truly matters—growing your business. They don’t have any physical branches, but that's the point!

What’s more, whether you're a U.S. citizen or a foreign investor, you can easily set up a business bank account with Mercury without any monthly fees or minimum balance requirements. They’ve made it simple for anyone to open a bank account with an online application process in as little as 10 minutes.

All that, combined with its incredible accessibility, makes it a game-changer for small business owners.

Although Mercury is still relatively new—with over 100,000 customers as of this writing—it has received substantial positive feedback with few complaints from customers who enjoy what it offers.

What Does Mercury Bank Offer?

Like many savings banks, Mercury offers business checking and savings accounts. However, the similarities end here—they don't offer personal accounts, loans, or mortgages.

However, Mercury said it hopes to expand its services to include traditional credit options soon, so that’s a plus.

But one reason for these odd limitations is that Mercury classifies itself as a tech company, not a bank.

Instead, it offers banking services through its partners, Choice Financial Group and Evolve Bank & Trust®. Both of these are U.S.-based FDIC member banks. This allows Mercury to insure accounts for up to $5 million, which is WAY more than the $250,000 of traditional banks.

Also, customers manage their accounts fully online. Don’t expect to drive to your nearest physical branch—Mercury eliminates a lot of overhead by allowing customers to interact with an online-only portal.

To help secure transactions, Mercury employs a host of security measures to safeguard your money, including two-factor authentication, encryption, and transaction monitoring.

Automation is also possible with the online service. For example, do you want to disburse funds to a separate account? You can set up automation rules to execute at scheduled intervals or when you need to. This is particularly useful if you fill up separate accounts (like in Profit First) or earmark funds for a special project or expense.

The nature of Mercury Bank makes it highly suited to businesses that don't deal heavily in cash or frequent check-writing, such as tech startups. But if you’re running a business that dabbles in physical cash flow or regularly collects cash from customers, you might need to look elsewhere; Mercury’s not there yet.

The Drawbacks of Mercury Bank

Sure, Mercury Bank offers convenience to many business owners (or introverts) who just want a bank that works, without having to talk to people. But it also helps to be aware of its limitations.

For example, Mercury has a glaring limit on transaction amounts, especially for new accounts. For example, a brand-new account is limited to $25k to $100k per transaction, depending on the transfer type.

Mercury also doesn’t support checks, nor can you get cashier's checks. If you need to send a check to somebody, you can use your account’s online dashboard and order a check from Mercury’s checking processor. This cumbersome method may take anywhere from a week to 10 days.

Third, you can’t deposit cash into your Mercury account. To deposit funds, you'll need to convert them into electronic funds before they can be deposited into your Mercury account. Similarly, you'll need a debit card to withdraw from Mercury and withdraw cash from an ATM.

Now, this will be a non-issue if you're an online e-commerce company or any business that doesn't need to deal with cash. However, if you run a convenience store, restaurant, retail outlet, or any other type of business that regularly accepts cold, hard cash as payment, then you may want to look elsewhere for your banking needs.

Finally, its all-online nature may not work for those who want real-time in-person support. Should you want one, response times for chat and email tickets can take up to 24 hours, so it’s not a feasible option if you need immediate assistance.

Mercury Wrapped

If you’re a small business owner and you feel pretty comfortable with your existing bank, you don’t have to use Mercury Bank if you don't want to.

But as a bonus, if you click the REtipster affiliate link below and deposit $10,000 within 90 days of opening up your account, Mercury will even give you $200 for free.

If you’re considering that, you can check out the video I made about how to set up a new account.

Get Started With Mercury!

This promo may not be around forever, but it’s a nice little incentive to try it when possible.

Before you go…

Mercury is a solid option, but there are a lot of money management solutions out there. If you're curious about the alternatives worth considering, check out my review on Relay, which offers a similar set of advantages with a few distinct differences.

The post Banking With Mercury: A Hands-On Review for Startups appeared first on REtipster.

Clearly, there’s plenty of demand for self-storage. But a corporate storage facility isn't the only option.

Described as the “Airbnb for storage space,” Neighbor offers a peer-to-peer storage and parking platform. But is it safe and secure? How much does it cost? How does it earn revenue?

If you have extra storage or parking space—or are looking for it yourself—consider Neighbor.com.

What Is Neighbor.com?

Neighbor is a listing platform that connects hosts and renters looking for extra space.

Hosts rent out their spare garages, basements, attics, or parking pads to renters, letting them earn passive income each month on unused space. Renters get a bargain on storage space or parking.

Like Airbnb, hosts create listings with photos, descriptions, and amenity listings. The latter could include features like climate control or separate access. Renters browse local listings and connect with hosts to ask questions about their available space.

All of which sounds great, cutting out corporate storage facilities and connecting neighbors with complementary needs. But when you dig into the details, plenty of questions sprout up about exactly how it works.

How Neighbor.com Works

You get the big picture: prospective storage or parking space renters browse listings with photos and descriptions. And parking does make up a hefty portion of the listings on Neighbor.com, not just for cars but also for boats, RVs, trucks, ATVs, and other vehicles.

Here’s exactly how Neighbor.com works, both for hosts and renters.

Allowed and Prohibited Storage

Renters can’t just store whatever they want in the garage down the street. That radioactive plutonium will have to go somewhere else.

Sign Up for Neighbor Today!

Neighbor.com prohibits the following items from being stored:

• Firearms and ammunition
• Fireworks and other explosives
• Toxins and pesticides
• Controlled substances
• Perishable food items
• Waste
• Stolen items

Renters must disclose exactly what’s being stored at the host’s property, and the host has the right to inspect stored items.

Finally, renters may not live or work at spaces rented on Neighbor.com. Phroggers should look elsewhere.

Rent Payments

The greatest strength and drawback of Neighbor.com is its payment platform.

Renters make payments through Neighbor.com’s built-in payment platform (powered by Stripe). They typically pay through automated recurring credit card payments each month. Late rent fees are also automatically charged to the renter’s credit card.

Which is great—except you don’t have a choice. All storage and parking leases through Neighbor.com must use their payment platform for rent.

Why? Because that’s how Neighbor.com earns its revenue.

Neighbor.com Fees

Both hosts and renters pay fees to Neighbor.com.

The fee for hosts is simple enough: 4.9% of all payments collected, plus $0.30 per transaction. That covers credit card processing fees and then some.

Renters also pay a fee, but it varies per lease. When you go to reserve a space, you can see the service fee before committing. While Neighbor.com doesn’t explicitly share how these fees are calculated, they typically range from 15% to 20% of the rent.

Renter Protection Plan

Actually, fees aren’t the only way Neighbor.com makes money.

Neighbor also earns revenue by selling protection plans to renters. They offer three plan levels: Minimum, Moderate, and Standard. You set the coverage amount, and Neighbor prices the premium accordingly.

Neighbor pays out a maximum reimbursement of 90% of the repair or replacement cost for belongings.

Sound a lot like insurance? Neighbor insists they don’t sell insurance, probably for some legal liability reason, but the distinction is lost on me.

Read more about renter protection plans here.

Cancellations and Refunds

If a renter cancels their reservation before the host accepts it, within 24 hours of acceptance, or more than three days before the reservation starts, they get a full refund of both the rent and the Neighbor.com service fee.

Renters who cancel their reservation one to three days before it starts receive an 80% refund of the rent (but not Neighbor’s service fee). On or after the start date, renters don’t receive any refund if they cancel.

Hosts can cancel a reservation any time before the lease start date. They can non-renew contracts with 30 days' notice and can, of course, evict non-paying renters’ belongings.

Host Identity Verification

To list their space on Neighbor.com, hosts must verify their identity.

Neighbor partners with Persona to verify hosts’ identities. The process is mostly automated, where hosts use their webcam (or phone camera) and a photo ID to verify their identity. Read more about the identity verification process here.

It protects renters from real estate scams, and Neighbor.com does not store any sensitive identity information, as the verification happens entirely through Persona.

Host Liability and Payout Protection

Neighbor provides a Host Guarantee with up to $1 million in liability protection. It includes bodily injury and “third-party property damage (excluding host and renter property damage) related to your Neighbor storage reservation.”

As a more mundane protective measure, Neighbor pays out up to two months of lost rental income if the renter stops paying and you need to evict their stuff. They refer to this as Host Payout Protection, and it’s a nice feature to entice wary would-be hosts.

Renter Access to Storage

When hosts create a rental listing, they set the frequency at which the renter can access the space.

That could be 24/7, of course, for spaces with their own separate entrance. Or hosts can set more restrictive access to areas that require the host’s presence, such as attic storage that requires the renter to enter the host’s home.

Business Uses

Neighbor also markets to businesses for a range of flexible uses.

For example, Neighbor connects companies with vehicle fleets to parking lot owners. They also help retail property owners fill vacancies on a temporary or flex basis, perhaps while they wait for longer-term tenants. In a head-scratching nomenclature, they call these “Retail REITs” despite bearing no resemblance to real estate investment trusts.

Pros of Neighbor.com

There’s a lot to like about Neighbor.com. Upsides to the peer-to-peer leasing platform include:

• Host Protections: Between the Host Guarantee and Host Payout Protection, hosts can sleep easy at night. As for what renters store in their homes or other storage space, hosts can inspect it to make sure they feel comfortable.
• Free Listings: Since Neighbor.com makes most of its money on rent payment transactions, hosts can test the waters by posting listings for free to see if anyone bites.
• Host Verification: Renters can trust that a host is who they claim to be, as all hosts must verify their identity before listing their space.
• Automated Rent and Late Fee Processing: With payments automated on credit cards, hosts and renters alike can “set it and forget it.”
• Renter Protection Plans: Renters storing valuable items can protect them with a policy directly with Neighbor.com or buy their own insurance policies elsewhere.
• Better Bargain than Storage Facilities: Renters can typically find better deals on storage and parking spaces by renting directly from another individual than paying a business.

Cons of Neighbor.com

No platform is perfect. Beware of the following drawbacks when considering Neighbor.com as a renter or host.

• Can’t Pay with Other Means: When you use Neighbor.com, you agree only to transact payments on their platform. You can’t make or receive payments in cash or through free platforms like PayPal or Venmo. It’s how Neighbor.com earns its revenue, after all!
• Less Convenient Access for Renters: Most self-storage facilities offer 24/7 access, or at least access from early morning to late at night. When renting space on Neighbor, you agree to the host’s access conditions.
• Potential Risk to Stored Belongings: Self-storage facilities and commercial parking venues typically provide strong security. That almost always includes surveillance cameras, physical barriers such as fences or walls, and, in some cases, human security guards. Your neighbor’s garage doesn’t come with that level of security.
• Availability Depends on Local Hosts: As a peer-to-peer platform, you can only rent space through Neighbor.com if someone in your area happens to have listed it. While major cities have pretty wide usage, less densely populated areas may not have any listings at all.

How Neighbor.com Compares

For renters, Neighbor.com offers the potential to score a bargain. Or not—you may find that after Neighbor’s fee, it costs just as much as renting space from a self-storage or parking facility with more convenient access and better security.

Renters should compare pricing and availability on Neighbor.com with SpareFoot, a parking and storage listing aggregator. It compares all commercial storage or parking options in your area with excellent search filters.

For hosts, Neighbor.com is the only peer-to-peer storage service I’m aware of (other than StashBee in the UK). But would-be hosts have plenty of other ways to house hack and monetize their home.

They can rent out rooms to housemates, of course, or rent out an accessory dwelling unit. Or if they’re willing to move, they can follow the tried and true multifamily house hacking model. Every one of those options can generate more revenue than renting out storage space, albeit with more costs or headaches on your part as a host.

Alternatively, you could rent out parts or all of your home as a short-term vacation rental. A friend of mine used to rent out a bedroom/bathroom suite in her apartment on Airbnb, and she found that if she rented it for two long weekends each month, it covered most of her rent. My cousin rented her entire home out on Airbnb, and just crashed with her fiance whenever someone booked it. Again, more hassle, but far more income as well.

Another option for peer-to-peer renting is Turo, the “Airbnb of cars.” You can rent out your car, for a few days or weeks at a time. In fact, when I travel home to the U.S., I usually rent a car on Turo. It potentially comes with greater risk and headaches, but again, it can generate more income than renting out storage space.

Final Thoughts

Renting out storage space is as passive as passive rental income gets in most cases. You throw a few photos and sentences in a listing, give someone a key when they drop off their boxes of college notebooks, and you don’t see them again for another year or two.

And it doesn’t pay particularly well, in most cases.

Still, if you have spare parking or storage space that goes unused each month, you have little to lose by renting it out.

Renters can also potentially score a great bargain by renting garage space from someone a few streets down rather than a public parking garage or self-storage facility.

Whichever side of the transaction you find yourself on, make sure you understand the risks and costs before committing to a lease agreement.

The post Neighbor.com Review: Peer-to-Peer Storage & Parking appeared first on REtipster.

But wait… have you decided who will act as your Registered Agent?

Don't worry; it's not some secret agent from a spy movie (although that would be pretty cool). A registered agent plays a vital role in your LLC, and today, I'll explain the responsibilities of this position and why it is essential to have one.

What Is a Registered Agent?

A registered agent is the official point of contact between your LLC and the state where it is registered.

It's like having a friend who's always home to sign for your packages. They've got to have an address in the same state where the company is registered, and they need to be around during regular business hours. This ensures the state has a reliable way to communicate with your LLC.

Your registered agent acts as the middleman, the liaison, or the go-between. They are responsible for receiving legal documents and important mail on behalf of your LLC.

A registered agent isn't just a nice-to-have; it's a must-have. If you don't have a registered agent or their info is out of date, you could get into real trouble with the state.

The role of a registered agent is crucial for maintaining compliance with state laws and regulations. Failure to maintain a registered agent or to keep the registered agent's information up to date can lead to penalties and even the administrative dissolution of the LLC.

Who Should Your Registered Agent Be?

Now I know what you might be thinking,

“Can't I just be my own registered agent?”

Sure you can! That's why I did for my first few years in business, and it worked fine… but these days, I've assigned this duty to a third party.

Why outsource this task? There are a few reasons.

Peace of Mind and Professionalism

Having a registered agent gives me peace of mind. I can focus on growing my business while someone else handles the legal mumbo-jumbo. Plus, having a registered agent adds a touch of professionalism to my company, making me look all official and serious.

A registered agent is like signing a contract with a fountain pen—it makes it look official.

Maintaining Privacy

The registered agent's information becomes part of the public record in many jurisdictions. This is why some businesses use a professional registered agent service to maintain their privacy and shield their information from the public's prying eyes.

Some people (including me) don't want to expose their personal or business mailing addresses for everyone to see, inviting solicitors to send them junk mail and showing the world where they live or work. If you also want this added shroud of privacy, appointing someone else as your registered agent may make sense.

Receiving Important Documents

Having a registered agent means I won't miss any important documents from the state. My registered agent is responsible for receiving and promptly forwarding all necessary paperwork.

Time and Convenience

Being your own registered agent implies that you're always available and responsive during regular business days and hours, which may not work when you're off traveling the world or too lazy to check your mailbox. If you don't want to be tied down waiting for essential documents while the world beckons you to explore its wonders, hiring a registered agent service might be exactly what you need.

How to Select a Registered Agent?

Want to outsource this responsibility to a registered agent service like I did? All kinds of services will gladly bear this burden of responsibility for you.

The one I recommend for most people is Northwest Registered Agent.

I explain how it works in the video at the top of this blog post!

Try Northwest Registered Agent!

When you outsource this responsibility to a professional registered agent service, you're choosing professionalism, protecting your privacy, and saving precious time. The DIY approach may seem tempting, but let's be honest; it can lead to unnecessary stress and potential mistakes. So, why not sit back and let the experts handle the nitty-gritty while you conquer the business world?

You have the power to make the right decision. Choose wisely, my friend.

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It’s fairly easy to shop around for the cheapest loan providers, insurance carriers, and maintenance materials—every dollar you save on your monthly costs will be an extra dollar of profit you’ll keep from your properties.

In most cases, though, investors and property managers forget the importance of maximizing their gross rents to improve their long-term profits. A property rented for $250 below market can potentially cost you $3,000 in yearly income.

Gone are the days when you had to guess or ask around to find out how much a property could or should rent for or where your local rental market is headed. Modern platforms can give you access to actionable, real-time rental data and empower you to make smarter (and more profitable) decisions.

And that’s precisely where RentCast comes in.

What Is RentCast?

RentCast is an online platform designed to help investors and property managers maximize the rents they collect from their tenants, keep their lease-up and vacancy periods low, and track their properties and local markets in one place.

You can use it for free online; the basic features don’t require creating an account. Although you’ll probably want to so you can take advantage of everything RentCast offers.

It works just as well for single-family homes, condos, small 2-4 unit multi-family properties and apartment units in larger commercial buildings, with data available nationwide in all 50 U.S. states.

If you’re a landlord or property management company that manages long-term rental properties, you’re exactly who RentCast was intended for.

Try RentCast Free Today!

Look Up Rents for Any Property

One of the core features of RentCast is to help you figure out how much you can rent a specific property for.

For an investor or landlord, this is a critical piece of information—when you’re analyzing new properties before purchasing and leasing existing rentals, you already own.

While you don’t want to leave money on the table and price your rentals well below market, minimizing your vacancy periods’s also a good idea by not being overly aggressive.

By simply typing in an address and selecting a few basic home features, RentCast will give you an accurate rent estimate for that property, all in just a few seconds:

Even better, you’ll see a list of the most similar rental comps in the surrounding area (which RentCast uses to calculate the estimated rent), so you can check what similar properties are renting nearby.

No automated estimate will be perfect 100% of the time, but the developers of RentCast have used years of rental data, trial and error, and tons of user feedback to refine their estimation algorithm and make it as accurate as possible.

View Local Market Trends

It’s often helpful to look at individual properties and their rents and the general market trends for the local neighborhood or zip code.

For example, if you’re on the fence about buying property on the east or west side of town, comparing how the rents have increased (or decreased) over time in each area can help you pick a more favorable place to invest in. In addition, analyzing historical rent fluctuations as a landlord can help you spot strengthening or softening market conditions and change how you approach your next vacancy or lease renewal.

While the free version of RentCast allows you to look up unlimited rent estimates for individual properties, the RentCast Pro upgrade (just $12/month with an annual plan) will also give you access to detailed rental market reports for any zip code:

These reports will not only show you average rents for the entire market and different property types but also how those rents have changed and fluctuated over time.

Plus, you’ll see a market composition analysis, which is great for checking which property types are more common in the area. It can also help identify which properties are easier to lease.

Generate Reports With One Click

Looking up all of this rental data in your browser is great, but RentCast also makes it easy to share property and market reports with your clients, partners, or property owners.

These reports can be an excellent value-add for your clients, lead generation or prospecting, or even as a way to present information to your investment partners.

Check out this sample rental property report and a rental market report.

Track Your Rental Portfolio

RentCast ties all of its rental data together with its portfolio tracking tools, designed to help landlords and property managers maximize their rents over the long term.

With a few clicks, you can add your rental properties and their existing leases to RentCast and enable these useful portfolio tracking features:

1. Rent alerts: Set a specific rent target (either as a dollar amount or as a percentage increase), and you’ll get an instant notification when the estimated property rent reaches that level.
2. Market updates: Get regular market update emails straight to your inbox with the estimated property rent and recently listed properties nearby.
3. Potential rent increases: See potential rent increases for each property and your entire portfolio to understand how much you can increase your cash flow.
4. Historical trends: Once you’ve added your properties and leases, you’ll see a time graph with how your actual and estimated rents have changed over time.

You’ll notice that RentCast wasn’t designed to help you track your rental expenses, manage maintenance, or collect rent. Instead, it focuses specifically on helping you maximize your rental income and cash flow, which other property management and accounting platforms often neglect.

Try RentCast Free Today!

RentCast vs. Rentometer

RentCast is often compared to Rentometer, another platform that offers some of the same features as RentCast.

While Rentometer has been around for a while, here is why we think RentCast is a much better choice in today’s market:

• RentCast has no daily or monthly limits on how many property rent estimates you can look up, even on the free plan.
• RentCast rent estimates and comps tend to be more accurate, and you can fine-tune them based on the property type, layout, and size.
• With RentCast, you can view historical market trends and performance for any zip code in the U.S.
• RentCast has a suite of tools to help you track and optimize your rental portfolio, including rent alerts, market updates, and historical rent tracking.
• RentCast has a nationwide property and rental data API, which you can use to power your real estate applications, CRMs, and workflows (more on this later).

Overall, RentCast gives you more bang for your buck (and more accurate data) on their free plan and offers much more value with the RentCast Pro upgrade as well.

Access Property Data With the RentCast API

If you’re a data nerd or somebody who likes to build your own automations, systems, or workflows—you’re in luck. RentCast comes with a public REST API that you can use to access all of its rental data programmatically:

Whether you want to look up rent estimates for thousands of properties in bulk, connect RentCast data to your CRMs or applications, or build custom Zapier automations with real-time property data, the RentCast API is a perfect solution.

As with any API development, it will require some coding and integration skills, but the RentCast API docs make it easy to learn and start using the different API endpoints in minutes.

Also, a note about API pricing—if you compare the RentCast API to other property data providers like DataTree, ATTOM, or CoreLogic, you’ll notice that it offers the same data sets for a fraction of their cost.

Combine that with flexible licensing terms that allow you to use RentCast data for pretty much any legal use case without attribution or long-term contracts, and you’ve got yourself a perfect solution for your property data needs.

Wrapping Up: Is RentCast Right For You?

Overall, RentCast delivers a ton of value and actionable data that is especially useful to investors and property managers looking to grow their rental portfolios with new acquisitions or maximize the cash flow of their existing investments.

It focuses on helping you understand how much your properties can rent for and what’s going on with your local rental market—both important for maximizing your rental income and minimizing vacancies.

Plus, its comprehensive property and rental data API are perfect for individuals and companies looking to power their apps, operations, and workflows with nationwide property data.

If you’re only focused on land investing, flipping, or wholesaling, this platform is probably not for you. But if you’re a rental investor or PM who wants to ensure you’re not leaving money on the table, RentCast will be an invaluable addition to your real estate toolbox.

Get 20% off RentCast Pro with the RETIPSTER promo code. Get started today.

About the Author

Anton Ivanov is a US Navy veteran, real estate investor, and entrepreneur with a 40-unit rental portfolio across three states. He founded two popular real estate software platforms—RentCast and DealCheck—and is passionate about helping others achieve lasting wealth through real estate investing.

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