Learning from the Failure of Others

Life Style

Most people have a dream of one day becoming an entrepreneur. They want that lifestyle of calling their own shots, waking up when they want to, and making good money doing it. The problem is, it’s not always easy to do. The road towards this type of freedom can be fraught with failure, mistakes, and problems.

There are barriers to success. You might see the lives of others who have made it and it might seem so easy. But it was never easy for them, either. Many successful people today grew up in very poor situations and built their empire on their own, brick-by-brick, failure-by-failure. The difference between them and most people isn’t the start they had, but that they were unwilling to give up their dream.

Instead, they took a circumstance they were going through and endured. They wouldn’t let it interfere with what they wanted to do, even at the risk of losing everything. There are plenty of names and stories, which will be listed below. Learn from these stories.

1) It’s Okay to Take Care of Yourself

Many people think they have to work so hard at creating the reality they want for themselves. Yes, you will have to work hard, but not at the point of completely exhausting yourself. Arianna Huffington was one of those people. Huffington went to Cambridge University and majored economics, but really dreamed of becoming a writer. She had a long-held believe that if you wanted to be successful, you have to work excessively.

She never gave herself a break and it hurt her in the long run. One day, she passed out from sheer exhaustion at the office and slammed her head on the desk as she hit the floor. She learned a lesson that day that she can make sleep a priority in her life. Working yourself to the bone won’t always translated to success and can even be detrimental, as you need a clear mind and to value the work your doing enough to ensure you’re doing well.

“I wish I could go back and tell myself that there is no trade-off between living a well-rounded life and high performance is actually improved when our lives include time for renewal, wisdom, wonder, and giving. That would have saved me a lot of unnecessary stress, burnout, and exhaustion,” she said.

2) Failure is Okay

Too many people take failure the wrong way. They end up losing their confidence and decide that maybe they shouldn’t be doing what they’re trying to do and give up. But everyone who has ever made it has failed at the venture they eventually succeeded at. Elon Musk is one example of that. He has had several failed businesses and even at the beginning of SpaceX had several rockets blow up. Did he decide that was the end for him? No. He kept pushing forward.

Musk is now worth $19 billion today. Apparently, he was successful enough at something. Musk says that failure is indeed an option. “If you’re not failing, you’re not innovating enough,” he once said. Look at failure as an opportunity to improve and grow. Build upon what failed and try again. Only then will you become successful.

3) Investment is Key

Many people work to make money. Once they start gaining a lot of success, they rarely use that money to invest back into the business to make it better. They would rather start spending their money and live lavishly. Mark Zuckerberg has a different approach. He lives a very frugal lifestyle. Has anyone ever seen him in a nice suit? Sure, as a billionaire he probably has a few toys, but he doesn’t focus on making money. He uses the money he has to improve what he’s built.

“We don’t build services to make money; we make money to build better services,” Zuckerberg said. Other sites and apps have come and gone with the weather. Facebook has stuck around and is as popular as ever. Why is that? Because he has tirelessly worked to build and adapt. He’s doing a lot of good in the world with his money. He invests in developing technology and is building a better world, not just collecting his money and running.

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Struggling with Debt? Avoid THESE at All Costs!

Credit & Debt

Debt is one of those things where we have to seriously consider whether it can positively or negatively influence our life. Yes, that can have its good moments. You need to have debt in order to build your credit. There has to be a period of time in which you can prove that you’ll regularly make on-time payments toward debt. You should learn about the 3 biggest debt traps out there today.

Were debt gets people and the problems is that they often struggle and paying it back. They want to buy something even though they can afford it. So, they use their credit and at times it can be difficult, especially when they add on tons of interest and the monthly payments are higher than anticipated.

A lot of people do not know how to manage their debt the right way. They continue piling debt until they eventually maxed out. This is a dangerous situation that can dramatically set you back in the future. You may have a need to take out a loan, but if you have so much debt or history of not being able to pay it back, you will lose out

Let’s look at 3 debt traps you should avoid:

1) Credit Card Rewards are Debt Traps

Credit card companies often offer a lot of rewards in order to entice people to get one. Again, using a credit card the right way can be good towards improving your credit. If you go with a credit card that offers tons of rewards, it will be a long time before you see those rewards. We’re talking spending thousands of dollars before you see a single reward. Even then, they’re not good rewards that they advertise for.

Before you know it, you racked up hundreds and interest payments and that, going broke just to get a ‘free’ airline ticket your trip that you would have paid for five times over if you didn’t get that credit card. If you need a credit card, and you want to build your credit, do it the smart way. Make small payments and pay it off each month.

2) Getting a Brand-New Car

This is one of the biggest debt traps out there today. Having a brand-new car is a status symbol to the world. You may have been eyeing that luxury car for many years, but many people don’t understand exactly how expensive that is. Not only are you expected to pay full-time coverage for insurance, you’ll also be taking a loan out for many tens of thousands of dollars which carries with it many thousands of dollars of additional interest. Owning a brand-new car is a burden that you must be ready for. Wait until you’re financially secure and have no other debts. In the meantime, there’s nothing wrong with getting something used.

3) Clothing

Just like the brand-new car, the close that we swear is indicated of our status. People love to wear expensive clothing to impress. The problem with this is, you could easily spend hundreds to thousands of dollars on designer clothing. People who buy these types of clothing also are not content after they buy something expensive. They wear it once or twice and in the ready to buy something else. If you look at a lot of the current billionaires, their wearing flip-flops and hoodies, not thousand dollars suits.

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Gen Z Sees Job Security Differently than We Do

Life Style

We may give too much credence to the idea of generational differences. If there’s one thing we can be sure of, it’s that one generation tries hard to learn from the mistakes of the previous. Gen Z is no different in that regard. They’ve had privilege of learning from several generations who had to face unique circumstances. They hope to apply these lessons into their own life while blazing a new path that may change the way we do everything.

Gen Z ranges from people born between 1998 and 2016. While the youngest of the are only a few years old, the other end of the spectrum is graduating college and entering the workforce. The largest group of them is currently in middle and high school, learning new ideas and being trained on technology the rest of us could’ve never imagined in our days.

Learning from Our Example

Our generations certainly had a lot of failures. Baby Boomers worked tirelessly and instilled the concept of a work ethic. They ‘played the game.’ “They saw their parents believe, ‘All you gotta do is work hard, keep your head down, go early, stay late, and you can advance and move up in a company.’ They saw their parents do that, and lose their jobs,” Casap said. All their hard work proved nothing in the end. It wasn’t any better for the Millennials who focused on education.

“They watched their brothers and sisters

[get that college degree]

and then come home and live in the basement with $200,000 worth of debt,” Casap said.

Gen Z sees more than ever how the entire system is broken. Going to college means starting out life tens of thousands of dollars in debt. It’s almost not worth it. Applying yourself at a job and busting your tail to move up ultimately proves fruitless as well. The economy is more volatile than ever and there’s more risk for taking chances. It breeds nothing but exhaustion and worry.

Gen Z wants something unique. They want to change the culture so they’re not just another cog on the wheel. They’re out there inventing new ways of doing things and that gives them a great deal of power. Technology gives them a door that wasn’t as accessible to us. They’ll do it with ease, breaking all the standard rules.

How Gen Z Will Rule the World

Starting a business in today’s world of technological advances are quite easy. You don’t need money to make money anymore. You just need to know a skill…a skill that easily accessible and can be learned for free online. Before, you had no chance of success unless you had a ton of money saved up to buy your merchandise and hope your store front is easy to find. All you need today is a bit of WiFi and a laptop.

Why do the standard, boring job, like working at McDonalds, like previous generations have done? Instead, they can learn a little bit of code, start a YouTube channel, or start selling art on the Facebook marketplace? More kids than ever are in high school today who also run a business on the side and make money using the internet.

This will change the world because Gen Z has other options than to sit in a stuffy office. If employers want to fill their seats and bring in qualified workers, they’ll have to change how they do business. If not, they’ll wither away and die.

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More Companies Using “Try Before You Buy” to Get Younger People into Credit

Credit & Debt

There’s nothing like instant gratification and urging people to buy things they cannot afford. Yet, it’s certainly the tactic many new startups are using to get the younger generation into using credit. Klarna is one of the larger new websites that does just that. They get over one million visitors each day and sell beauty products and clothing to young people.

The difference between Klarna and Amazon or any other ecommerce website is that you don’t have to buy the products right away. They offer several options that include paying for your purchase on the spot or spreading out your payments a bit. Once the product has shipped, you have 30 days to use the product and will be asked to pay for it after those 30 days have expired.

Once you’re ready to check out with the items you want to try, you only have to provide your name, address, and even date of birth. The site will attempt to make a soft credit check on you to see what your credit score is and whether you can be trusted to essentially borrow the products to see if you like them. If it’s determined that you’re okay, you then have the option to choose your payment plan.

The smaller items can be paid over interest-free payments, but the larger items will require more time. They will try to get you into a 36-month payment plan with interest included. The idea is to allow younger people to buy the things they want without being forced to pay for it right away. They see the payment options and still get instant gratification rather than waiting to afford it.

A Different Way of Doing Business Using Credit

The concept of buying now and paying for that item later isn’t exactly new. Credit cards allow for that option all the time. The difference is, there are clear advantages websites like Klarna has and it may change the credit industry. They don’t start off by charging interest and fees. You don’t even have to sign up or register an account with them.

Instead, the vendors who choose to sell products on the website do have to pay a transaction fee and a tiny bit of the sale price. Rather than passing that price to the customer (which may be built into the price anyway), Klarna charges the vendor. This allows them to take more risk in trusting the customer to choose the payment option that works for them.

The website even claims this helps them increase the number of orders they get and people actually spend more money. The checkout process is simple and all the additional fees are put on the vendor. Gymshark started using this same model and saw an immediate jump in the number of sales and even had customers buying more products. The order value increased by 33% by passing the fees on to the vendors.

The downside with this platform is that it’s more likely to trigger buyer’s remorse. You’re ‘buying’ a lot of products because you don’t have to worry about payment right away. But just like student loans, it’s fine until you have to spend the next few months paying off all the products you probably already used up or sits in your closet. The joy of the purchase can wear off and if the customer doesn’t pay, it will be reported to the credit bureau and hurt your credit.

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Large Number of Americans Expect to Have Debt the Rest of their Lives

Credit & Debt

Back in December, CreditCards.com did a survey asking 1,000 Americans about their debt and their thoughts surrounding it. What the survey revealed was quite shocking. As much as 25% of the population believes their debt is so great, they’ll never pay it off. In fact, they expect to die with a large amount of debt left to be dealt with.

41% of those surveyed say they have no clue when they’ll be able to pay their debt off. They’re working on it, but apparently don’t have it budgeted out. 65% say they’re not sure when or even if they’ll ever. These are terrible statistics that are making life difficult for everyone. Having significant amounts of debt hurt the economy as a whole.

An analyst for CreditCards.com, Ted Rossman, described these stats as “depressing” and one that everyone should try to avoid.

“You’ve got to do whatever you can — whether it’s a balance transfer, taking on a second job, cutting expenses, or whatever you have to do,” he added. “Credit card debt has a much greater impact on your finances than something like a mortgage, an auto loan, or a student loan, because those products are all in the 4, 5, 6% range. Credit card rates are so much higher.”

Growing Credit Card Rates

Credit card interest rates are currently higher than any type of loan out there. These rates recently came into focus. Both Bernie Sanders and Alexandria Ocasio-Cortez came out in favor of legislation to see the rate at 15%. They hope lowering the interest rates will help all Americans, but especially the working class.

“There is no reason a person should pay more than 15% interest in the United States,” the freshman representative wrote on Twitter. “It’s a debt trap for working people + it has to end.”

“Practically speaking, I don’t think that’ll become law any time soon,” Rossman said of the proposal, “but I still think it’s an important discussion to have because credit card rates are really high.”

“We know … that about 40% of cardholders are already paying their bills in full each and every month, so that’s great,” Rossman said. “Those are the kinds of people that are great candidates for rewards. But, the 60% who are carrying debt really need to prioritize their interest rate over all else. Unfortunately, a lot of people aren’t doing that.”

Reality Sets In for Debt Holders

The reality is, overall household debt has been creeping up in recent years. Despite a robust economy, people are leaning more on debt than ever before. Perhaps they believe they can afford it with the extra cash in their pockets, but it’s still only 40% of people who pay their credit card debt in full.

“We feel like most people are being responsible,” Rossman said. “Most people who have credit card debt didn’t get there because of a vacation. They didn’t get there because of a shopping spree. They got there because something happened with their health, their car, their home, or they’re just having trouble making ends meet.”

“That’s a tough situation to be in,” Rossman added. “I think it brings up some of the fundamentals of personal finance about doing whatever you can to budget, live within your means.”

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How Exactly Would a Gun Buyback Work?

Politics

There’s been a major push in the Democratic party as of late to push gun control. In the wake of several mass shootings this year alone, the calls for tougher gun laws are louder than ever. More moderate Democrats are simply asking for tougher background checks and Red Flag Laws designed to allow gun privileges to be taken away from people deemed harmful to society.

Even these more slight-of-left views are being completely rejected by the right who will stand by their belief that the Second Amendment must not be infringed. The NRA is a weaker beast than it used to be, but they still have a powerful crowd of pro-gun and pro-liberty fans and politicians on their side.


For a long time, the right has known that the left has never understood nor accepted the right’s love of guns. Yes, many on the left are gunowners themselves. They are hunters and protectors of their own homes, just like those on the right side of the spectrum. The difference is, they are less resilient towards tougher gun laws and many calls for these laws to be implemented.

Still, the right and their allies won’t budge or compromise when it comes to the Second Amendment. They’ve had a deep fear that the left only cares about taking away all guns, but they can’t ever admit that. They will start off slow and with each new law, and shootings still continue to happen, requiring increasing amounts of control on guns until they’re gun. A conspiracy theory? Perhaps, but one rooted in at least a little bit of truth.

Beto Wants Your Guns

As the left and right continue to debate over gun rights, the left has always said the right was too paranoid. “We don’t want to take your guns!” they’ve shouted. “We just want common-sense gun reform.” Well, the cat is now out of the bag. A certain presidential candidate from Texas is now saying he wants your guns.

It’s not uncommon for candidates to make outlandish promises while out on the field before election day, especially in areas that are heavily right or left. You need to make those extreme promises to stand out, but then get on the debate stage amongst other candidates and play nice. The goal is to stay as center as possible to capture the lightning in the bottle.

This time around, that wasn’t the case. In a rousing speech, Beto O’Rourke said the words that rang across the country: “Hell yes, we’re gonna take your AR-15, your AK-47.” This stoked more fears among the left. What they had always suspected would happen is coming true. They are now open about wanting to take your guns.

“In some regards, this horse is out of the barn,” said David Chipman, a retired agent with the federal Bureau of Alcohol, Tobacco, Firearms and Explosives and now the senior policy adviser for the Giffords group. “For years we’ve allowed these to be sold.” The question now is whether that’s actually a feasible plan.

Would a Gun Buyback Work?

There are currently more guns in the United States than people. Estimates are there are 400 million guns out there today and trillions of rounds of ammo. Even if you remain focused on just confiscating AR-15s and AK-47s, those numbers can top as many as 16 million weapons. Beto seemed adamant that the first thing he would do as president is take those types of guns.

How exactly would that take place? More importantly, how would he enforce that federally? States may not go along with the law, especially the deep red states that would probably rather succeed, like Texas, than go along. Again, another conspiracy theory, but Texas seemed ready when Obama was elected.

If the logistics of enforcing the law were enough, the cost is another major issue. The price tag of hiring federal law enforcement agents to hit every home to force them to comply as well as the full cost of the buyback and disposal would easily hit in the billions. Yet, Beto believes most gun owners are law abiding citizens who would willingly give up their weapons.

“Once you start talking about taking guns away, especially legally owned firearms by responsible gun owners, you’re just going to alienate a whole huge portion of American citizens. They’re just not going to stand for that,” said Chris Waltz, the president and CEO of AR-15 Gun Owners of America. “This is what they feared.”

The Logical Conclusion

The logical conclusion is that this probably won’t happen. The Republicans still control the Senate. Even if the law was signed after Democrats take all three branches of government, lawsuits would then ensue. The battle would make it all the way to the Supreme Court, where it would ultimately be shot down.

That doesn’t mean we won’t see some isolated approvals in blue states for red flag laws and comprehensive background checks. Many states have already implemented these laws with no real effects in curbing gun violence. That’s because the United States has open borders between states and anyone can bring weapons into California or New York. So, would a federal ban help?

“Constitutional rights aren’t based on what you like. What’s the slippery slope of this?” said Lara C. Smith, the national spokeswoman for the Liberal Gun Club, a nonprofit group of liberal gun owners. “If they’re going to take away these rights, what other rights are they going to take away?” Even liberals close to the middle think this is unfair and unconstitutional. Where it goes, no one knows just yet, but Beto is currently polling near the bottom of the pack.

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Walgreens Testing Drone Delivery Service

Business

Imagine having the ability to have everyday items delivered to your home whenever you wanted? Walgreens is looking to make that a reality with a new drone delivery service. Think of all the reasons why you might stop at a pharmacy. Everything from prescriptions, other types of over-the-counter medicines, and other products we use daily. Even snacks or that gallon of milk can be delivered.

Walgreens announced last week that they are going to partner with Wing Aviation LLC. They are an up-and-coming drone delivery service that is trying to make drone deliveries commonplace. Right now, the technology is being used by Amazon and other companies to deliver packages, but hasn’t been widely distributed as of yet. It’s still a basic concept growing in popularity. It’s going to take companies like Walgreens to help make the technology mainstream.

It appears as if the program is in its infancy and will only be tested in one market in Christiansburg, Virginia. Wing Aviation LLC is a company owned by Alphabet, the parent company of Google. Walgreens’ main goal is to pull ahead of the competition by offering convenient new services. This also means we can probably expect CVS and others to step up to the plate and also start testing their own drone delivery programs.

Drone Customer Service

“Walgreens continues to explore partnerships to transform and modernize our customer experience and we are proud to be the first retailer in the U.S. to offer an on-demand commercial drone delivery option with Wing,” said Vish Sankaran, chief innovation officer, Walgreens Boots Alliance, Inc. in a statement.

Christiansburg was the place selected to carry out the tests because the program has a working partnership already with Virginia Tech University. They have been at the front lines of testing and perfecting this technology for several years. The new Walmart drone delivery service will be the next step in their process.

According to a press release from Walgreens: “Eligible customers in the Christiansburg area will have access to more than 100 products and six convenient ‘packs’ via the Wing app that include many of Walgreens most sought-after products in store. Customers can either choose the individual products they need or, for simplicity’s sake, choose one of the pre-built packs in the following categories: allergy, baby, cough/cold, first aid, pain, and kids’ snacks. Prescription deliveries are not available via this service.”

Walgreens is also the perfect fit for testing out this technology. A lot of people dare to venture out when they’re sick to get medicine and other needed supplies. With drone delivery, they can stay at home and rest while the medications and prescriptions they need are sent to them. It’s also perfect for senior citizens

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GM Vendor Layoffs Happening as Strike Continues

Business

The UAW workers strike continues and its impacts are being felt throughout the industry, not just with GM and their workers. Imagine all the other factories and companies that make the parts and form the metal that they assemble into cars. They outsource many parts, so when a strike goes on and GM workers are picketing, they aren’t buying more parts from vendors.

A supply backlog is happening and there are more parts and no workers to use them. That’s why vendors have decided that it’s time to start laying off their workers. If GM isn’t buying these parts any longer due to the backlog, then they don’t need people making the parts. It’s even seeping into the trucking industry.

Many pictures have come out showing how semis are being blocked from entering GM plants and deliveries aren’t being made. That means truck drivers are struggling to get paid for loads that were meant to be delivered, but still sit on their trailers. The good news here is that GM has stated recently that they have continued negotiations with the UAW and it’s going really well. Actual progress is being made, so hopefully the strike doesn’t last too long.

Other Companies Who Have Been Hit

Modine Manufacturing is a company that makes radiators. Cooper-Standard Holdings produces all sorts of car equipment, like brake lines and sealings. BorgWarner makes control panels for exhaust and emissions. These are all major companies that are suffering as the strike continues. Delphi and others have taken a loss in the stock market.

In an attempt to appease the UAW, GM has already offered to created thousands of new jobs and offer $7 billion towards other investments to create jobs and improve working conditions. They even offered better wages and health care benefits, but it was all turned down before the strike was set to take place.

GM tweeted: “The offer we presented to the UAW prioritizes employees, communities and builds a stronger future for all. It includes improved wages and health care benefits, over $7B in U.S. investments and 5,400 jobs. Let’s come together and secure our shared future.”

Nearly 50,000 UAW workers across the country are currently striking.

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Yahoo May Be Paying Out Its Own Data Breach Settlement Soon

Real life

Back in July, everyone knew about the $700 million settlement that allowed you to claim damages if you suffered any loss as a result of a data breach. As we know in today’s world, these types of data breaches seem all too common. Yahoo was another company that had its own data breach in which millions of accounts were stolen as well as sensitive data.

Currently, Yahoo may be a negotiation for its own $117.5 million settlement for the several times they’ve had a data breach in the past two years. If you’ve had a Yahoo account between the years of 2012 and 2016, you may be eligible to sign up to receive your payment. The problem is, as with the Equifax settlement, there’s a fixed amount of money in which everyone will try to claim from. The more people who claim, the less money there’ll be for everyone.

Equifax was offering to pay victims of fraud either $125 or free credit reporting for around four years. Of course, many people are going to choose the cash option as they don’t value credit reporting is much as receiving the money. What started happening is that the average payout became much less than the $125 offered. More people found out about the situation and started putting their claims in.

Even the FTC decided to chime in and tell people that getting the credit reporting was the better option, otherwise the cash option could be depleted. Yahoo’s situation is the same. They’re offering $100 payment or free credit reporting for two years. That $100 is only good as long as too many people don’t sign up for the cash option.

More Yahoo Options

Depending on what was lost during the data breach, including having your Social Security number or other sensitive information stolen from you, you may be eligible to receive more than $100. They’re offering as much is $25,000 for people who suffer losses. When your personal information is stolen due to data breaches, whoever stole the information can then use that against you. They could sign up for credit cards in your name and steal your identity.

When this happens, it’s extremely difficult, frustrating, and time consuming to fight. It takes a lot to prove that you are a victim of fraud. If Yahoo’s data breach caused you to be the victim, then you could be in for significant damages which the settlement will pay out.

“You may additionally provide documentation or proof to receive reimbursement of up to $25,000.00 in out-of-pocket losses, including lost time, that you believe you suffered or are suffering because of the Data Breaches. As to documented lost time, you can receive payment for up to fifteen hours of time at an hourly rate of $25.00 per hour or unpaid time off work at your actual hourly rate, whichever is greater. If your lost time is not documented, you can receive payment for up to five hours at that same rate.”

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Is ‘Tenancy in Common’ the New Way People are Buying Homes?

Life Style

Actor Dan Nufer was in the market for a new home in the Los Angeles area. Driving around and looking for new properties, he found one specific house that had everything he was looking for. It was larger than other homes he tried to get, was newly renovated, and even fit within the lower end of his budget. His first thought was that this was too good to be true.

“This house was way too nice, in an up-and-coming neighborhood and at the low end of my budget,” he said. “It was too good to be true.” In some ways, it was. When he asked his real estate agent to check into how this larger house in an awesome neighborhood went for so cheap, he found out that it was being offered as a tenancy in common.

Believe or not, there’s actually movement going on in neighborhoods and cities across the country. In these areas, rent is so expensive that it’s forcing complete strangers to decide to buy a home together. They want a nice house in the nice neighborhood. Rather than living in an unsavory and unsafe area, they’re deciding that buying a home with someone else puts them in a better situation.

Managing living in a home with roommates, except this time, both roommates are the owners. They share all the bills and have every responsibility and right to the home. No one owns it outright, so they both co-own it together. This can be a large townhome, a very large house, or even a single property that has several smaller homes on it.

What is Tenancy in Common Like?

“It is exactly like living in a condo complex,” says Nufer. “Except that legally I don’t own my house, I own 1/7th of the property and I have the right to live in my house.” This might seem like a strange situation, but there is an upside for people looking to buy a home or property. The prices for owning a piece of it are much lower than if you are buying the entire thing yourself.

Again, think about sharing rent with a roommate. Many people live like this already to help with the bills. That doesn’t mean that there aren’t any risks involved with the situation either. If things turn sour between you and the other person(s) involved, it’s more difficult to just up and leave. You partly own the property. You would have to sell your share.

There are other risks as well. You might be difficult to find financing and/or insurance options that cover the living situation. Then there’s the situation of what happens if your partners financial situation goes downhill. You will be expected to share property taxes and maintenance costs. Your real estate partner in this deal may not be up for all the costs.

“I understood the potential risks. And I was fine with it,” Nufer said. “From start to finish, with TICs, I found the bark was much worse than the bite.”

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