Category: Financial Advice
For a multitude of people, renting out their entire home or part of it on Airbnb seems like an easy way to cash in money. One may look at it as a way of paying off their mortgage loan by hosting travelers for a short while. But recent studies have shown that there are some unexpected problems like for instance damage to your property that your insurance may not cover. In most cases, this leaves these amateur hoteliers with financial and legal issues that they hadn’t anticipated, and thus they end up costing more to fix these damages than they could make by renting out their property.
What to consider before renting out your property on Airbnb
1. What your homeowner’s insurance covers
Many homeowners’ insurance policies don’t cover Short-term rentals. Meaning that, you have to foot the bill in the event your paid guest does damages to your property.
2. Potential Risks
When you rent out your property, you’re responsible for any injuries, illegal activities, theft, damages to your neighbor’s or your property that they may inflict or incur while during their short stay.
Once you have looked at these few issues, you may consider whether to take in short-term guests or not. It’s also strongly advised that one should seek the advice of an investment manager or an insurance professional. An example of such a professional is Richard Dwayne Blair of Wealth Solutions, Inc. He can assist you in reviewing your options and advice you to your customized needs as he has been in the business of securities for 22 years.
Richard Blair and his company offer advisory services on information on funds, financial planning, and management of wealth for high net worth individuals. He has assisted many people to attain their investment goals via companies like Worldwide Ventures Gp LLC, United Global Securities, Blair Insurance Group LLC, Wealth Solutions, Inc., and Crownbridge Wealth LLC.
About Richard Blair
Mr. Blair is a sole financial advisor certified in Annuity, Fund Specialist, Income Specialist, Tax Specialist, Estate and Trust Specialist and a Retirement Income Certified Professional with 22 years of experience in the finance industry. He is the founder of Wealth Solutions, a firm dedicated to providing retirement, and wealth preservation strategies and objective advice and customized investment. His motivational drive is from the challenge of assisting others to attain their financial goals. Outside the office, Richard Blair spends his time with his wife and their three children bike riding, cheering on his kids at their sports events, taking family vacations, golf, and exercising.
There is a new European nation being developed, a gorgeous country of friendly people who wish nothing more than to be free and prosperous. That country is Ukraine, and billionaire investor George Soros believes that it is a nation worthy of strong global support in the form of solidarity, aid and debt forgiveness.
To understand why Soros feels that Ukraine deserves so much help, it is important to put recent history into perspective. In a 2015 opinion piece penned along with philosopher Bernard-Henri Levy, George Soros argued that Ukraine’s ongoing revolution and armed conflict against Russia is an admirable experiment in democracy.
Indeed, modern news coverage has allowed the world to see that what is happening in Ukraine is a participatory struggle to become a nation that is truly democratic and unwilling to live under a corrupt regime. The way Ukraine has managed the forceful Russian land grab of the Crimean peninsula as well as the violent separatist movement is commendable.
A major focus of Soros’ philanthropic efforts have been focused on Eastern Europe, and this is a nod to his Hungarian heritage. Soros strongly believes that Eastern Europe is a land of promise; a region that aims to adopt all the good democratic practices of the European Union.
Soros feels that Ukraine and other former Soviet republics are threatened by their own pasts; this is something that can be observed in the ongoing conflict in the Ukraine, where a Cold War specter has set in.
George Soros – Project Syndicate
Prior to the Crimean crisis, many nations agreed to provide economic aid to the Ukraine by purchasing huge chunks of sovereign debt. This investment, though risky, was attractive in the sense that the good people of the Ukraine are smart and hard-working. Foreign creditors as well as private investors were enticed by the prospect of Ukraine as an emerging market filled with peace-loving people who strive to live democratically in search of freedom and prosperity.
Unfortunately, the conflict with Russia put a hamper on the economic dreams of the Ukrainian people. When Soros argued for a bailout of Ukraine in early 2015, investors listened. He made a sound argument in favor of debt forgiveness, citing the conflict’s impact to the industrial sector and the scores of businesses that have closed across the country.
In August of 2015, the BBC reported that investors holding Ukrainian sovereign debt agreed to a 20 percent write off and to established an extended timeline for repayment. As Soros explained, the people of the Ukraine are bound to prevail, but they need time and help from the global community.
Soros did not make guarantees to investors; instead, he highlighted the noble values that the Ukrainian people are fighting for, and he elucidated on why those values will be ultimately convenient for Europe and for the world.
Learn more George Soros:
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