Benefits of FHA 203k Mortgage Program

The FHA 203k loan is the vital government sponsored program for the refurbishing and rehabilitation of single-family properties. Essentially, it's just but a glorified home enhancement loan. The 203K mortgage is a remarkable tool for community revitalization.
Where can you apply the FHA 203k loan?
You may use FHA 203k rehab mortgage to purchase homes (including the land it stands on) for residential purposes and renovate all with a single loan. You may also use FHA 203k loan to buy an eligible property on a different site, convey it onto your new mortgaged property, and repair it. Other FHA 203k loan qualifying properties can be sourced through REO (properties owned by banks), short sale properties by the MLS and eligible homes from the HUD register.

However, the FHA 203K loan is not only meant for purchasing a home. If you are an eligible homeowner, you can effectively use this program to refurbish your primary residence. Once more, it is in essence a construction loan for upgrading existing homes.
How beneficial is FHA 203k rehab loan?
Nearly all regular mortgage programs only offer you "permanent" financing which implies that the financier will not fund the purchase of the property unless it is ready to be funded as-is. In case that property needs to be improved or repaired, several financiers will require that you do this prior to the financing deal with the lending institution. You can do the repairs from your pocket before purchasing the property; however, with the FHA 203k mortgage program you don't need to.
When you are applying for an FHA 203k loan, the property valuation will be based on the post-repair value and comprises an escrow account to repair the property to the lenders' preferred condition.
Now, considering the many REO homes in the market requiring repair, it is clear that "regular" FHA mortgage would pose a problem if it were the only mortgage you would access for REO and rehab properties.
FHA 203ks are safe and easier to manage when compared to the other forms of financing; moreover, their lenders are usually protected.
Since FHA 203k mortgage funds both the rehab and purchase costs in a single mortgage loan, it is nowadays one of the most popular mortgage options. In addition, the eligibility standards are quite similar to those in the FHA loan guidelines -making financing through an FHA 203K rehab mortgage very attractive.

Steve Siebold's "21 Ways Rich People Think Differently"

Browsing the web, I came a cross an article worth sharing and I'm not going to disappoint. So here we go........

World’s richest woman Gina Rinehart is enduring a media firestorm over an article in which she takes the “jealous” middle class to task for “drinking, or smoking and socializing” rather than working to 
earn their own fortune.

What if she has a point?
 
Steve Siebold, author of “How Rich People Think,” spent nearly three decades interviewing 
millionaires around the world to find out what separates them from everyone else. It had little to do with money itself, he told Business Insider. It was about their mentality.

“[The middle class] tells people to be happy with what they have,” he said. “And on the whole, most people are steeped in fear when it comes to money.”
 
1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil -“The average person has been brainwashed to believe rich people are lucky or dishonest,” Siebold writes. That’s why there’s a certain shame that comes along with “getting rich” in lower-income communities. “The world class knows that while having money doesn’t guarantee happiness, it does make your life easier and more enjoyable.”
 
2. Average people think selfishness is a vice. Rich people think selfishness is a virtue- “The rich 
go out there and try to make themselves happy. They don’t try to pretend to save the world,” Siebold told Business Insider. The problem is that middle class people see that as a negative––and it’s keeping them poor, he writes. “If you’re not taking care of you, you’re not in a position to help anyone else. You can’t give what you don’t have.”
 
3. Average people have a lottery mentality. Rich people have an action mentality- “While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems,” Siebold writes. “The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It’s the average person’s level of thinking that breeds this approach to life and living while the clock keeps ticking away.”
 
4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge- “Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge,” he writes. “Meanwhile, the masses are convinced that master’s degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness…The wealthy aren’t interested in the means, only the end.”
 
5. Average people long for the good old days. Rich people dream of the future- “Self-made millionaires get rich because they’re willing to bet on themselves and project their dreams, goals and ideas into an unknown future,” Siebold writes. “People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression.”
 
6. Average people see money through the eyes of emotion. Rich people think about money logically- “An ordinarily smart, well-educated and otherwise successful person can be instantly transformed into a fear-based, scarcity driven thinker whose greatest financial aspiration is to retire comfortably,” he writes. “The world class sees money for what it is and what it’s not, through the eyes of logic. The great ones know money is a critical tool that presents options and opportunities.”
 
7. Average people earn money doing things they don’t love. Rich people follow their passion- “To the average person, it looks like the rich are working all the time,” Siebold says. “But one of the smartest strategies of the world class is doing what they love and finding a way to get paid for it.” On the other hand, middle class take jobs they don’t enjoy “because they need the money and they’ve been trained in school and conditioned by society to live in a linear thinking world that equates earning money with physical or mental effort.”
 
8. Average people set low expectations so they’re never disappointed. Rich people are up for the challenge- “Psychologists and other mental health experts often advise people to set low expectations for their life to ensure they are not disappointed,” Siebold writes. “No one would ever strike it rich and live their dreams without huge expectations.”
 
9. Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich- “That’s why people like Donald Trump go from millionaire to nine billion dollars in debt and come back richer than ever,” he writes. “While the masses are fixated on the doing and the immediate results of their actions, the great ones are learning and growing from every experience, whether it’s a success or a failure, knowing their true reward is becoming a human success machine that eventually produces outstanding results.”
 
10. Average people believe you need money to make money. Rich people use other people’s money-Linear thought might tell people to make money in order to earn more, but Siebold says the rich aren’t afraid to fund their future from other people’s pockets. “Rich people know not being solvent enough to personally afford something is not relevant. The real question is, ‘Is this worth buying, investing in, or pursuing?’” he writes.
 
11. Average people believe the markets are driven by logic and strategy. Rich people know they’re driven by emotion and greed- Investing successfully in the stock market isn’t just about a fancy math formula. “The rich know that the primary emotions that drive financial markets are fear and greed, and they factor this into all trades and trends they observe,” Siebold writes. “This knowledge of human nature and its overlapping impact on trading give them strategic advantage in building greater wealth through leverage.”
 
12. Average people live beyond their means. Rich people live below theirs- “Here’s how to live below your means and tap into the secret wealthy people have used for centuries: Get rich so you can afford to,” he writes. “The rich live below their means, not because they’re so savvy, but because they make so much money that they can afford to live like royalty while still having a king’s ransom socked away for the future.”
 
13. Average people teach their children how to survive. Rich people teach their kids to get rich. Rich parents teach their kids from an early age about the world of “haves” and “have-nots,” Siebold says. Even he admits many people have argued that he’s supporting the idea of elitism.

He disagrees. “[People] say parents are teaching their kids to look down on the masses because they’re poor. This isn’t true,” he writes. “What they’re teaching their kids is to see the world through the eyes of objective reality––the way society really is.” If children understand wealth early on, they’ll be more likely to strive for it later in life.
 
14. Average people let money stress them out. Rich people find peace of mind in wealth- The reason wealthy people earn more wealth is that they’re not afraid to admit that money can solve most problems, Siebold says. “[The middle class] sees money as a never-ending necessary evil that must be endured as part of life. The world class sees money as the great liberator, and with enough of it, they are able to purchase financial peace of mind.”
 
15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained- While the rich don’t put much stock in furthering wealth through formal education, they appreciate the power of learning long after college is over, Siebold says. “Walk into a wealthy person’s home and one of the first things you’ll see is an extensive library of books they’ve used to educate themselves on how to become more successful,” he writes. “The middle class reads novels, tabloids and entertainment magazines.”
 
16. Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people-The negative money mentality poisoning the middle class is what keeps the rich hanging out with the rich, he says. “[Rich people] can’t afford the messages of doom and gloom,” he writes. “This is often misinterpreted by the masses as snobbery. Labeling the world class as snobs is another way the middle class finds to feel better bout themselves and their chosen path of mediocrity.”
 
17. Average people focus on saving. Rich people focus on earning- Siebold theorizes that the wealthy focus on what they’ll gain by taking risks, rather than how to save what they have. “The masses are so focused on clipping coupons and living frugally they miss major opportunities,” he writes. “Even in the midst of a cash flow crisis, the rich reject the nickle and dime thinking of the masses. They are the masters of focusing their mental energy where it belongs: on the big money.”
 
18. Average people play it safe with money. Rich people know when to take risks- “Leverage is the watchword of the rich,” Siebold writes. “Every investor loses money on occasion, but the world class knows no matter what happens, they will aways be able to earn more.”
 
19. Average people love to be comfortable. Rich people find comfort in uncertainty- For the most part, it takes guts to take the risks necessary to make it as a millionaire––a challenge most middle class thinkers aren’t comfortable living with. “Physical, psychological, and emotional comfort is the primary goal of the middle class mindset,” Siebold writes. World class thinkers learn early on that becoming a millionaire isn’t easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty.”
 
20. Average people never make the connection between money and health. Rich people know money can save your life.
While the middle class squabbles over the virtues of Obamacare and their company’s health plan, the super wealthy are enrolled in a super elite “boutique medical care” association, Siebold says. “They pay a substantial yearly membership fee that guarantees them 24-hour access to a private physician who only serves a small group of members,” he writes. “Some wealthy neighborhoods have implemented this strategy and even require the physician to live in the neighborhood.”
 
21. Average people believe they must choose between a great family and being rich. Rich people know you can have it all- The idea that wealth must come at the expense of family time is nothing but a “cop-out”, Siebold says. “The masses have been brainwashed to believe it’s an either/or equation,” he writes. “The rich know you can have anything you want if you approach the challenge with a mindset rooted in love and abundance.”

From Steve Siebold, author of “How Rich People Think.”

The Advice I Wish Someone Had Given Me for My First Job

First jobs are intimidating; in hindsight I realise it took me a long time to be able to get into the flow of work and begin to work well.

Accept your newbie status and the work that comes with it
Most people do not realise there is a transition between work and school, you cross an invisible line and suddenly it is a whole new ball game. The rules have changed. First do what is asked of you. Go pick up dry cleaning, buy milk, cleaning the floor, whatever mundane tasks that you are asked to do. 
Slowly you will get to do more work. Just get it done (no matter what.)
 
Therefore, you need to revel in working hard no matter what the job is. You might be smart and clever, but a solid work ethic is the main thing that'll separate you from all the other viable candidates.

Stay organized and never miss a deadline
Your new career is not like school or any other job you've ever had. What worked before will not work now.  Being on time, getting your work done and keeping it all together is incredibly important at a new job so you do not draw undue attention to yourself. You can worry about standing out later. At first you just need to get your work done as efficiently as possible. It might seem like a minor thing, but showing you can reliably get things done goes a long way.

Pay attention to the company culture
Every company is different and fitting in is increasingly important especially with the stiff competition in the job market. While you don't need to go out of your way to change your personality for an employer you need to fit in as quickly as possible.

One of the best things about a new job is the incredible learning experience it provides
When you join your new job, get to know them, treat them with respect, watch and learn. The goal is make a good impression with various people around the company, and learn as much as you can. Try to be respectful, silent and get your work done the best you can. Careful with this though, I heard once in many companies co-workers, are so afraid they would loose their jobs they perpetually give the wrong instructions. If you know someone on the outside that can guide you reach out to them.

Watch for Burnout 
It's remarkably easy to get caught up in moving your career forward when you're first starting out. Recognize when you're overworked, give yourself breaks throughout the day and if you are unwell take sick days.

It's a fine balance between maintaining a consistent work ethic, being reliable, and still giving yourself the time off you need to survive. Your first job is not only about showing that you can get the job done, build a good network that will keep you going. This likely won't be your last job, and the more you can take away from it the better.

courtesy of Career point kenya

5 Billionares Who Were Once Fired From Their Jobs Before they Became Filthy Rich

Most of us live with the constant fear that we might get fired. “Might this be the day when the boss decides I have become irrelevant? Well, you know how that goes.

It’s comforting to know that some of the most successful people in the world have also been let go.

Here is a list of most successful people in the world who were once fired from their job.

1.Walt Disney.
In 1919, Walt Disney was fired from the Kansas City Star. According to his editor, he "lacked 
imagination and had no good ideas."

Don’t you find that funny considering that Walt Disney moved on to become animator, film producer, director, screenwriter, voice actor, entrepreneur, entertainer, international icon,[3] and philanthropist, well known for his influence in the field of entertainment? 

He co-founded the Walt Disney Productions, which later became one of the best-known motion picture producers in the world.

2.Madonna
When Madonna dropped out of college and moved to New York to find fame, she had a rough start. Strapped for cash, she took a job at Dunkin' Donuts in Times Square. She didn't even last a day. After squirting jelly filling all over a customer, her managers gave her the boot.

The Material Girl went through several fast food and waitressing jobs before she was introduced to the city's punk rock music scene in 1979.
These low-paying gigs were necessary at first, but Madonna knew she was meant to be a star.

3.Oprah Winfrey.
Evening news reporter Oprah Winfrey couldn't help but get emotionally invested in her stories. The producer of Baltimore's WJZ-TV got fed up and pulled her off the air. As a consolation, he offered her a role on a daytime TV show.

Winfrey was initially heartbroken. At the time, daytime TV was a huge step down from the evening news. Her sadness quickly faded as the show, People Are Talking, became a hit.
That success help Oprah find her true calling as a talk show host.

4.Elvis Presley.
Elvis may be the king of rock 'n' roll but he hit some major setbacks on his way to the top. After one performance at Nashville's Grand Ole Opry, the concert hall's manager told the singer he was better off returning to Memphis and his old career, driving trucks.

Luckily for modern music, he didn't. Presley continued to book shows in the area and eventually landed a spot on a tour with Hank Snow, the then biggest star in country music.

5. JK Rowling 
She worked as a secretary for the London office of Amnesty International, but she dreamed of being a writer. She secretly wrote stories on her work computer and daydreamed about a teenage wizard named Harry Potter. Her employers finally got fed up and gave her the boot. Her severance check helped support her over the next few years, when she finally decided to focus on writing.

Today, she's the multi-billionaire author of one of the most successful book series of all time. 

iWriter for Freelance Writers Review

If you are a freelancer then you must be aware of iwriter.com. The relatively new site has taken over freelance writing by a storm. To describe iwriter as an article writer’s paradise is an understatement. If you have established writing skills or is new to the freelance writing world then iwriter is the best place for you.

I may go on and on enticing you on the importance of iwriter, but again, not everybody succeeds with iwriter. As writer and requester with iwriter.com, I am writing this review outlining my experience with iwrtier.

What is iwriter?

iWriter.com or simply iWriter is a website for professional freelance writers and article requesters, which reveals itself as one of the best online.

What makes iWriter Unique?

 Iwriter works a bit different from other freelance sites. For instance, it is only at iwriter.com that you can sign up and immediately start writing, without submitting a sample article or undergoing any skill test – You get the chance to show the requesters what you got to offer. From the job board, you are free to choose a job in a category you like and from any requester, provided you meet the minimum rating for the job category. Your success in iWriter is highly dependent on your ability. Upon submission of your finished work, the requester is given the opportunity to rate your work depending on how you have satisfied his/her needs. Therefore, be keen on the quality of articles you submit for they will affect your rating and dictate the writing level you attain and how much you take home per article.

How does iWriter ratings work?

It doesn’t matter what your past freelancing experience is, at iwriter, you build your reputation anew. The requester rates your work on a scale of 1 to 5 depending on how satisfied they are, their mood and article quality. You may not have absolute control over the requester’s mood; however, the quality of work and requester satisfaction is up to you. High quality articles addressing all the requester’s needs will definitely earn you a 5 star. Irrelevant, poorly written articles will absolutely give you a rating of 1.0.

When you sign up for iwriter.com, you have a star rating of 1.0 and are grouped as standard writer. As you write more articles, your rating will increase or reduce depending on the quality articles you write - Your success is dictated by your ability. To proceed to the next level, Premium writer, you must have written at least 30 articles and attained an average rating of 4.0 and above. This will leave experienced writers scratching their heads. However, this is a quality control by iwriter.com. It takes time and determination to rise through the ranks. Fortunately, you can jump straight to an Elite writer provided you have attained a mean rating of at least 4.6 after 30 ratings. It sounds pretty easy. Doesn’t it? Wait until you try it out.

iWriter Earnings

For writers, your earning per article is dependent on your rank (standard, premium or elite writer); number of words needed in that particular article; and to some extent, the requester’s generosity like giving a tip. The standard writing pay per article is as listed below:

STANDARD WRITERS

§  150 words – $1.01

§  300 words – $1.62

§  500 words – $2.24

§  700 words – $4.05

§  1000 words – $6.07

Premium writers

§  150 words – $1.62

§  300 words -  $3.24

§  500 words – $4.05

§  700 words – $5.27

§  1000 words – $8.10

ELITE WRITERS

§  150 words – $3.50

§  300 words – $5.67

§  500 words – $8.10

§  700 words – $10.13

§  1000 words – $14.99

SPECIAL REQUEST:

Depending on your relationship with the requester, you can receive an assignment directly from him/her. The good thing about special request is that they pay well and gives a good rating since your relationship between you and the requester is good. For instance, I repeatedly get a 5 star rating from a requester for whom iWrite game reviews.

IWRITER AND PLAGIARISM

If you already are a freelancer with a copyscape subscription account, you may as well stop your subscription. Iwriter automatically runs copyscape on their site for free. This is good news to those who understand how copyscape works and its importance in the article writing world. For beginners, copyscape is a plagiarism checker capable of detecting article phrases copied from the web. Whenever this is detected, the software colours the affected phrases in yellow and inform you to look into them. Be caught 3 consecutive times and your account is deactivated.

Limitations of iwriter.com

Despite all the good news about iwriter, be sure to meet some challenges which will disadvantage you as a writer. Your rating and there your ascent in iwriter depends on the quality of articles you write but to some extent, the requester.  For example

Bias or cruel requesters: you may write a quality article based on your own understanding of the requester’s need. However, sometimes you get it wrong, may be because the requester didn’t comprehensively describe what article he/she needs or your fault in understanding. The result for such mistakes is your article being rejected with an annoying rating of 1.0, if the requester is that bad.

Remedy: You have the will to choose who to write for, therefore such requesters may top your list of the most feared clients on iwriter. Alternatively, it is alwayd good to use the “”contact requester” option provided by iwriter to get more highlights on the requester’s needs.

Short time for research: You should write a 150 and 400 word article within two hours, 500  word article attracts 3 hours writing time and 700 words and above attracts 5 hours. This may seem a lot of time, however, if the project is complicated and requires in-depth  research, you may not have the pleasure to do it. In case “unforeseen circumstances” like power failure, loss in internet connectivity; your project will delay and despite the effort put, you earn zero dollars.

Remedy: I love long articles (500 words and above) as they give me adequate time for research.

Conclusion

If you have the skill and passion for freelance writing then iwriter will the best place to try it out and earn some good cash. If you are a good writer you will have an easy time up the iwriter ladder. This is because many articles will be approved and you will keep rising through the ranks. If you are below average, iwriter will be a nightmare and you will easily quit due to many rejections and you will never get out of the standard ranking. Therefore, please do not start writing if you know for sure that your writing is below average.

You may forget this long iwriter review article, but remember these three points:

1.      Aim to be an elite writer.

2.      Aim for special request

For requesters, look forward to an in-depth review of iwriter for requesters and learn how you can get quality articles at an unbeatable price. In the meantime, you can sign up to iwriter and request for quality articles or sign up as an iwriter freelancer and start making those dollars.

Latest Business Ideas for Women Wishing to Make That extra cash

Online home based businesses are the latest business ideas for the mums who stay at home as housewives or those retired. These women, some in their 50s, make good money online through these home based jobs they do during their free time. It is as easy as having internet enabled computer and some knowledge on how to use it. Most of these jobs are freelance therefore you are the person to decides when to do it.
Now, how can you tap this extra money? The answer is just next.


Freelance writing: With the growth in number of websites, there is a high demand for content to fill these pages. All you need is experience in any field and good grammar and writing skills. You can sign up in these freelance writing sites, like iwriter, helium, etc; write and submit articles for some dollars.

Writing Blogs: How about expressing your feelings on topics of interest and making money out of it? All you have to do is create your own blog and share these ideas you got on fashion, food, politics and parenting tips. You can also sell items on their blogs.

Online stores: You can sign up with Amazon, eBay and Craigslist, just to mention a few, after which you can sell new or used products or become online dealers.

Secretarial and administration works: Very much suitable if you have some training in these fields. You can work as data entry personnel, secretary or administrator.

Writing E-books: If you have a passion and talent to write, you can write e-books on your preferred topic or area of study and sell this opinion or knowledge to the world.

If you are a woman at home, the internet is not just for entertainment and research, you can do some real good business with it.