Tag: market

How To Become a Freelancer and Make a Full-Time Income

by Phillip Warren

Today, I have a fun interview to share with you that will show you how to become a freelancer.

I recently had the chance to interview Ben Taylor. Ben has been freelancing since 2004, and he has worked for dozens of companies.

Yes, this is a career path that you can learn!

As Ben will tell you in the interview below, a freelancer can be anything. You can be a freelance designer, personal trainer, nutrition coach, online teacher, virtual assistant, writer, and more.

If you are looking for a new business or even just a side hustle so that you can learn how to make extra money, learning how to become a freelancer may be something that you want to look into.

In this interview, you will learn:

  • What a freelancer is, who they work for, what they do, etc.
  • How much a new freelancer should expect to earn
  • How a person can find their first freelancing job
  • The steps needed to take to make money as a freelancer

And much more!

He also has an informative course called Freelance Kickstarter. This course takes you through the step by step process of creating your own freelance business.

Check out the interview below for more information.

How to become a freelancer.

 

1. Please give us a background on yourself and how you started as a freelancer.

I'm Ben, and I live by the sea in England with my wife and two young sons.

I started a career in tech back in 1998, and by 2004 was Head of IT for a government department. It didn't take long for me to tire of company politics, and the endless meetings that were more about displays of ego than really getting anything done.

I came from an entrepreneurial family and my parents both had businesses rather than jobs. The businesses weren't always successful, and there were definitely periods of “feast and famine.” However, I was well used to that and I think that branching out on my own was something I was destined to do.

My move into freelancing splits into a couple of clear phases:

Initially, in 2004, I quit my IT job, walking away from business class travel and a gold-plated pension with nothing more than a vague plan to begin to work as a freelancer!

I started to provide IT support and consultancy to both businesses and individuals. I do actually still do some of that work for a select group of long-term clients, but by 2009 I had managed to burn myself out with it. The business was going well, but I was working ridiculously long days and every holiday I tried to take was interrupted by constant phone calls and emails.

So phase two began when I sold off most of my client-base and moved to Portugal! That's when I really started to broaden my freelance horizons. I had to start from scratch, with an unclear intention to start writing for a living, and no real plan for how to do it.

I did lots of things, including wasting a LOT of time down fruitless blind alleys. I wrote for content mills, started blogs, found clients on freelance job boards, and – slowly and steadily – started to build my income back up. The difference was that I was doing it all completely on my terms with work I really enjoyed. 

I was also living in a dream destination whilst doing it.

 

2. Can you explain what exactly a freelancer is, who they work for, what they do, etc.?

This seems like a basic question, but it's very worthwhile. There's a considerable difference between freelancing and remote working that not everybody appreciates.

First off, a freelancer can be anything. For some reason many people immediately think of writing when they think about freelancing. But you can be a freelancer designer, personal trainer, nutrition coach, online teacher, virtual assistant, and dozens of other things.

It's also worth noting you don't only have to be one of those things. I AM a freelancer writer, but I also still dabble in IT consultancy, run my own blogs, provide coaching, and even build websites for people (if they ask nicely and the price is right!)

Regardless of what you do as a freelancer, the important thing to realise is that you are running your own business. The big plus of this is that you are in total charge. But the big negative is that you don't have any of the safety nets you have if you are employed by a single company. This means you're responsible for everything from your own insurance and healthcare to your own technical support!

Freelancers typically work for several different clients. There are myriad places to find those clients. It's quite common for freelancers to find clients within their existing professional networks, and not at all unusual for ex-employers to be among them. Then there are freelance job boards like Upwork and PeoplePerHour, which provide an endless stream of new opportunities.

 

3. How much should a new/beginner freelancer expect to earn?

This is an incredibly difficult question to answer! I can think of one freelancer I coached who's in a very specific writing niche. He went onto Upwork with an initial rate of $100 per hour and found lots of work. I started out in IT consultancy charging a similar rate and was quickly earning more than I did in my full-time job.   

However, at the other end of the scale there are people with limited experience or specialist skills who will need to pay their dues. This means building the foundations of a freelance career by proving yourself and taking low paying jobs to build up examples of work and positive feedback. My move into writing was much more like this!

I think “job replacement income” is a useful target for new freelancers to keep in mind. That can vary vastly from individual to individual. Obviously replacing and exceeding a corporate-level income takes much more than freelancing as an alternative to a part-time, entry-level job. That said, people with senior-level experience command much higher freelance rates.

Related content: 20 Of The Best Entry Level Work From Home Jobs

 

4. What do you like about being a freelancer?

Not having a boss!

The difference in lifestyle is massive when you work for yourself. This is always brought home to me when I'm making plans with friends and family, and people say “I'll see if I can get the time off.”

This makes me shudder, because it's SO alien to me now. The example I always use is that I never have to ask anybody before I can tell my children I'll be at their sports day or nativity play.

When you have what I call a “traditional job,” you DO have the security of healthcare, and perhaps things like holiday and sick pay. But you give up a tremendous amount of freedom in return. Freelancing is profoundly different, and it's rare to find people who've given it a go that would ever choose to go back to full-time employment.

So that's a huge thing for me, but there are other huge benefits too. I love the fact I can pivot into different things, which always allows me to keep things fresh.

About four times a year I reassess my priorities and lay out new goals for the short, medium and long term. They might involve starting a new blog, writing another book, learning a new marketable skill. For somebody like me who relishes variety, I love having total control of this.

 

5. How can a person find their first freelancing job?

There are SO many ways to find freelance jobs. I have an article listing 50 different options!

However, they broadly split into two categories that I call “real world” and “online world.”

It's always worth starting out by thinking of your real life networks. As I've said, many freelancers do their first self-employed work for people who already know them. I'd advise people to think about any contacts who've already seen the kind of work they're capable of. These are “warm leads” that are well worth perusing.

It makes sense to think about personal contacts as well as business contacts, too. Plenty of freelancers find clients who are their “wife's best friend's brother” or something like that!

Remaining in the “real world,” there are also options like local business groups and networking events – although they are obviously far less accessible at the present time.

Moving to the online world, the freelance job boards are the place to be. They can be intimidating places initially, and it's crucial to learn how to use them and how to avoid scammers and low paying clients. But there are plenty of great clients out there, including many household name companies who use those boards to hire freelancers.

Often, a quick one-off $50 job can evolve into a long and lucrative client relationship. My wife and I both have clients who we first met on the freelance boards years ago. We still work with them now.

There's no one-size-fits-all answer to where to find the first client, but there are options for everybody.

 

setting rates when learning how to become a freelancer

6. How does a freelancer decide what to set their rates at?

This is a question I'm asked a LOT! The answer leads to lots more questions, and I think many of my readers are disappointed when I don't just give them an answer of “$x per hour” or “$x per article!”

It's a subject I cover in my Freelance Kickstarter course, and I'm happy to share a slide from that particular lesson here. The factors to consider include tangible things like the “market rates” for specific types of work, and how each client's geographical location could impact how much they expect to pay.

But there's much more to consider beyond that: How much does the gig align with your long-term goals? Will the job produce a great example of work that will help you win more clients in the future? Is this a job that could lead to on-going, long-term work?

I guess a simpler answer is that your rate needs to be fair and competitive, and sufficient to make it worth your while to do the job. However, the rate for each job really needs to be assessed on a case-by-case basis.

The reality is that there are millions of freelancers out there charging vastly different rates, often for very similar services. There's a bit of an art to working out where you sit on the pricing spectrum, but it's an art you can learn, and it gets easier with experience.

 

7. What steps does a person need to take to make money as a freelancer?

The first and most important is working out what it is you actually want to do. That may seem obvious, but my inbox is full of emails from people asking what they should do, without telling me what they're capable of and what kind of work would make them happy.

I will attempt to lay it out in a fairly simple series of steps:

  1. Work out what skills you have and what market there is for them.
  2. Look at who else is providing those services, what they charge, and what you can provide that will make you stand out and appeal to clients.
  3. Identify any gaps in your knowledge and experience, and work to fill them. This could mean doing some training, or doing some voluntary jobs to bulk out your portfolio.
  4. Establish a personal brand. This isn't as big a deal as it sounds, but does mean having a solid resumé and LinkedIn profile, and sometimes some other ways to demonstrate your expertise.
  5. Learn how the freelance job boards work. Even if you have a rich personal network to draw on, it's wise to understand the wider world of freelancing.
  6. Put yourself out there, and start pitching and applying for things.
  7. Make sure you provide perfect work and delight your clients, so that they want to work with you again and recommend you to others.

Repeating and refining these steps is the essence of becoming a successful freelancer.

 

8. How much does it cost to start this type of business and how much on a monthly basis to maintain it?

Freelancing is generally a low-cost venture, but that's not to say it's free. Depending on what you do, you may need specialist equipment and / or software. And if you're switching from an employed position, you may have to buy things like this yourself for the first time.

A good computer is a must, as it's often the key tool of your trade. You may also need to budget for things like insurance, possibly including healthcare cover if you are somewhere like the US where this isn't covered by tax payments.

When it comes to monthly costs, the main things I pay for include software subscriptions and insurance policies. Thankfully these tend to build over time and no individual thing is particularly expensive. You can start out as an online freelancer without even having a personal website, and add things like that once you gain some momentum.

I also recommend budgeting for ongoing training and learning. Thankfully there are all kinds of ways to learn online inexpensively. Companies have training budgets, but when you're a freelancer, keeping your skills on point is on you.

 

9. What kind of training is needed to become a freelancer?

I'd say the training splits into two: learning about freelancing itself, and building skills around the specific work you want to do.

Courses like my own Freelance Kickstarter cover the first part. Freelancing is a skill in itself, and we've covered some of the important areas in this interview already. Stuff like setting rates isn't immediately obvious, so learning from those who have been there and done it already is very valuable.

When it comes to skills-specific training it depends what work you're doing. Let's say somebody wanted to work as a freelance social media manager. Not that long ago it would have been all about Twitter and Facebook. Nowadays Pinterest is a much bigger deal for many people, and TikTok is emerging as the latest trend.

So as that freelancer, you need to decide what you're going to focus on. Do you want to be the “go-to guru” for TikTok, or be more of a generalist with social media in general?

It's wonderful to have the choice.

 

10. Are there any other tips that you have for someone who wants to become a freelancer?

I have many!

The one I repeat over and over is that you have to eventually go for it and make the jump. I see a lot of people who never get past the “thinking about it” phase. Meanwhile the go-getters have taken the leap of faith and started to build success.

Moving to freelancing is one of those things where there may never be a perfect time to do it. Those who keep waiting for that time to arrive can easily find themselves looking back ten years later with the same commute and the same job.

Another thing I'm like a broken record about is the importance of “paying your dues.” There are often plenty of less-than-ideal gigs to finish successfully before you arrive at the amazing ones.

I wrote about some really dull topics in my early days of freelance writing, for example. But I had to wade through that stuff to build my reputation. It all felt thoroughly worth it a few years later when I was being well paid for travel articles and restaurant reviews!

You learn something from every job along the way: How to handle clients, renegotiate rates, refine your skills, and get work done more efficiently so that you're boosting the value of your time. Freelancing isn't supposed to be easy but it's almost always challenging, interesting and rewarding.

And let's face it, many people don't feel that way about their jobs.

 

11. What can a person learn from your course? Can you tell us about some of the people who have successfully taken your course?

OK, so Freelance Kickstarter expands on all of the topics I've touched on here, and many others. It's intended to remove confusion, and that feeling of overwhelm that often descends when researching this stuff online. It helps new freelancers make a clear plan for getting started. As the strapline goes, the idea is that people “stop wasting time, and start making money!”

I never intended to create a course, but after running the HomeWorkingClub website for several years, it became clear there was a space for something like this. I make it very clear that it's not some kind of “get rich quick” scheme.

To be brutally honest, I don't want students who are looking for shortcuts. There is real hard work involved in being a successful freelancer, but it's a more than viable option for those willing to do what's required.

The course starts with the basics of working out what you can do and want to do, and presents LOTS of different options. It then moves on to auditing your skills and experience, building your brand, and working out your own personal goals. I particularly like that section because it helps people learn the exact process I use myself every few months to keep things moving forward.

The next lessons cover finding clients, and there's a big module on learning how to use freelance job boards like Upwork. Once people have completed this, they will know how to uncover the good and genuine jobs, and how to side-step the time-drains and scams.

Students also learn about setting rates, and all the other practicalities of running a freelance business, from getting the tech right to taking undisturbed holidays! We also cover side gigs, and long-term slow-burn projects like blogs and self-published books.

I provide personal support on the course, and people can ask me all the questions they need as they go along. There are also regular exclusive podcasts with extra advice and news of industry developments and new opportunities.

In terms of people who have already taken the course, I recently published a case study from a lady called Lyn. She now has “more work than she can handle” as a freelance writer working via Upwork. Two things that have particularly pleased me about her situation is that she's cherry-picking projects that interest her, and that she's been able to do exactly what I suggest in increasing her rates as she builds experience and reputation.

I've also had great feedback from people at a much earlier stage. I've kept the course price low so that people can use it to help decide if freelancing is for them – just dipping their toes in for the first time.

As one student said, the course is “ideal if you are considering going freelance and don't know where or when to start, or even if freelancing is for you.”

Several of the testimonials so far have aligned perfectly with the original objective, which was – essentially – to help people see the wood for the trees in an environment than can seem very daunting to begin with.

I set out to create the course I wish I'd had! I've made more than my fair share of mistakes in over 16 years of freelancing. The people taking Freelance Kickstarter should hopefully be able to avoid the same ones!

Click here to learn more about Freelance Kickstarter.

 Are you interested in learning how to become a freelancer?

The post How To Become a Freelancer and Make a Full-Time Income appeared first on Making Sense Of Cents.


Source: makingsenseofcents.com

Best credit cards for Airbnb

by Phillip Warren

Many of us are avoiding travel during the pandemic.

But if you have to shelter in place under quarantine once you get to your destination, wouldn’t you rather do it in an environment that at least seems more within your control?

If the choice is between a hotel where you must trust your experience to a faceless corporation or a local host you can talk to through homestay sites like Airbnb and Vrbo, the latter may be the better option for these times (provided you don’t violate their party guidelines).

Whatever option you choose, credit card issuers now reward homestays with points and cash back in the same way they’ve long doled out rewards for hotels and other travel expenses.

These are the best cards on the market for homestays like Airbnb.

See related: Strategies for planning 2021 travel

Wells Fargo Propel American Express® card: Best no-annual-fee, high rewards option
  • Chase Sapphire Reserve: Best introductory bonus
  • Bank of America® Premium Rewards® credit card: Best for bonus rewards
  • Capital One Venture Rewards Credit Card: Best flat-rate miles card
  • Amazon Prime Rewards Visa Signature card: Best for online shopping
  • Discover it® Miles: Best no-fee option
  • Wells Fargo Propel American Express® card: Best no-annual-fee, high rewards option

    The Wells Fargo Propel American Express card includes arguably one of the highest rates of return on points for some of the most popular redemption categories out there, including homestays like Airbnb and Vrbo.

    The greatest advantages of this card – besides earning 3 points per dollar spent on some popular spending categories – are that there’s no point limit or expiration, no annual fee and no rotating categories that you constantly have to remind yourself to activate. You get three times the points in the relevant categories all the time without restriction, with travel – including all homestays – and transit being one of those prominent categories.

    The card also charges no foreign currency conversion fee, so buying things abroad is less expensive. If that weren’t enough, here’s what you also get:

    • 3 points per dollar spent on travel and transit purchases
    • 3 points per dollar spent on eating out and ordering in
    • 3 points per dollar spent on gas and rideshares
    • 3 points per dollar spent on select streaming services such as Hulu, Netflix, Sirius XM and Spotify Premium
    • 1 point per dollar spent everywhere else
    • No annual fee
    • No points limit or expiration
    • Premium access to presale tickets, offers and protections from American Express
    • 20,000 points when you spend $1,000 in the first three months
    ProudMoney.

    Chase Sapphire Reserve: Best introductory bonus

    Before the Wells Fargo Propel card debuted, Chase Sapphire Reserve was the go-to credit card option for Airbnb fans. It offers a 50,000-point introductory bonus when you spend $4,000 in your first three months of membership. Those points are worth up to $750 when you book travel through Chase Ultimate Rewards.

    Though equipped with fewer spending categories offering 3X points and carrying a large annual fee of $550, the benefits of the Chase Sapphire Reserve card are more specifically geared toward frequent travelers.

    At the same time, that large annual fee is offset by a $300 annual credit that will reimburse any travel expense – including Airbnb. And from June 1, 2020, to June 30, 2021, gas station and grocery store purchases count toward the travel credit.

    Add to that a $100 credit covering the application to Global Entry/TSA Precheck every four years and the annual fee is almost completely offset in the first year.

    Meanwhile, there are even more travel benefits:

    • 50,000 bonus points after you spend $4,000 in the first three months (worth up to $750 in travel)
    • 3 points per dollar spent on travel (excluding purchases covered by the $300 travel credit)
    • 3 points per dollar spent on dining (including delivery and takeout) and travel; $1,000 in grocery purchases, including eligible pick-up and delivery services, from Nov. 1, 2020 to April 30, 2021
    • Complimentary airport lounge access through Priority Pass Select Membership
    • Trip cancellation/interruption insurance
    • Primary car rental insurance
    • Lost luggage reimbursement

    Bank of America® Premium Rewards® credit card: Best for bonus rewards

    While the points per dollar offered by Bank of America Premium Rewards credit card on travel and Airbnb are fewer than the credit cards above, the sign-up bonus and up to $200 in annual statement credits make it a decent option, even with less flexibility on what qualifies as a credit than the credit cards above.

    This card should absolutely move to the top of your list if you are already a Bank of America Preferred Rewards client. That designation automatically increases your return even higher than what the other credit cards above offer on travel and dining – you can get a rewards bonus of up to 75%.

    Combine that with a generous sign-up bonus and the Bank of America Premium Rewards is one of the most potent rewards cards for Preferred Rewards clients.

    The card includes:

    • Introductory bonus: 50,000 points when you spend $3,000 in the first 90 days (worth up to $500 in free travel)
    • 2 points per dollar spent on dining and travel purchases, including Airbnb and Vrbo
    • 1.5 points per dollar spent on everything else
    • Get up to $200 in travel statement credit rewards, including $100 for incidental spending per year and $100 toward a TSA Precheck/Global Entry application every four years
    • No foreign transaction fees
    • Bank of America Preferred Rewards clients earn up to 3.5 points per dollar on travel and dining purchases and up to 2.62 points per dollar on all other purchases
    • $95 annual fee
    Travel loyalty programs offer extended perks in pandemic

    Capital One Venture Rewards Credit Card: Best flat-rate miles option

    The Capital One Venture Rewards Credit Card is remarkably similar to Bank of America’s Premium Rewards card, right down to the $95 annual fee, but without the additional benefits afforded to Bank of America Preferred Rewards clients.

    However, Capital One Venture Rewards offers 2 points per dollar spent on every purchase, not just travel and dining.

    • Earn 60,000 travel miles after you spend $3,000 in purchases in the first three months – equaling $600 in travel credit
    • Earn 2 miles per dollar spent on every purchase, every day
    • Points can be redeemed for statement credit on travel purchases, including Airbnb
    • $95 annual fee
    • No foreign transaction fees

    Amazon Prime Rewards Visa Signature card: Best for online shopping

    You may be wondering why the Amazon Prime Rewards Visa Signature card is on a list highlighting the best credit cards for AirBnb, Vrbo and other homestays.

    Shouldn’t this card be limited to the “best credit cards for online shopping” list? Not when Amazon offers Airbnb gift cards and the Amazon Prime Rewards card gives you 5% cash back on Amazon.com purchases as long as you have a Prime membership, which essentially acts as the annual fee ($119).

    Just purchase an AirBnb gift card from Amazon with the card, and it’s as if you are getting 5% cash back for your AirBnb stay when you apply the gift card towards it. It’s the highest rate on this list, Amazon or not.

    You’ll receive the following additional benefits:

    • 5% cash back on Whole Foods and Amazon purchases (with Prime membership)
    • 2% cash back on purchases at drugstores, gas stations and restaurants
    • 1% cash back on all other purchases
    • A $100 Amazon gift card upon credit card application approval
    • No foreign transaction fees
    • $500,000 travel accident insurance
    • $3,000 per passenger lost luggage reimbursement
    • Baggage delay insurance of up to $100 a day for three days
    • Extended warranty coverage for an additional year

    See related: How to pay off Amazon purchases over time

    Discover it® Miles: Best no-fee option

    Though the points per dollar on this card are lower than any other credit card on the list, Discover it Miles gives you much more freedom in how you can manage your points and account.

    You can redeem miles in any amount, your miles don’t expire even if you close your account and 1% of your miles can be converted directly into cash for your bank account.

    Discover it Miles offers:

    • 1.5 miles for every dollar spent on every purchase (matched at the end of the first year)
    • Points can be redeemed for statement credit on travel expenses, including Airbnb, gas stations and restaurants.
    • Miles can be converted into cash at rate of 1 cent per mile and transferred directly into your bank account
    • Redeem miles in any amount
    • Miles never expire and you don’t lose them even when you close your account
    • No late payment fee or penalty APR on your first late payment, up to $40 thereafter
    • No foreign transaction fees
    • No annual fee
    • 0% APR on purchases for 14 months (11.99% to 22.99% variable APR after that)
    creditcards.com

    How Does Cash Back Work?

    by Phillip Warren

    How Does Cash Back Work?

    Editorial Note: This content is not provided by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the issuer.

    Credit card companies typically offer a plethora of rewards options for their cardholders to take advantage of. But cash back has long been a favorite of many, as it gives you the chance to earn cold, hard money for making everyday purchases. If you’re confused about how cash back works, read on for a full explanation.

    How Cash Back Works

    At its core, cash back refers to a predetermined percentage of a purchase you make being returned to you as cash rewards. Cash back rates typically range between 1% and 5%, though there are some outliers to be mindful of. Credit card issuers will usually clearly label what types of purchases earn what level of cash back. But like anything in the credit card industry, you must read the fine print.

    This is mainly because all purchases and cash back rewards are governed by merchant category codes, or MCCs. Credit card companies ultimately determine these designations, with Mastercard, Visa, American Express and Discover calling the shots. Some common codes are “restaurant,” “department store,” “airline” and “entertainment,” among others. So if you earn 5% bonus cash back at restaurants and you go to Burger King — which has a restaurant MCC — you’ll get that 5% back.

    But what these limiting MCCs sometimes don’t take into account are businesses that could fit into more than one category. Included in this group are hotels, superstores like Walmart, tourist attractions like museums and other multi-faceted establishments. In turn, you could lose out on cash back if you’re confused about which category a purchase you made falls into.

    As an example, let’s say your family orders room service while on vacation in The Bahamas. You pay with your credit card thinking you’ll get the advertised 3% cash back on dining. When your credit card statement comes in the mail, however, you’ve only received the base 1% earnings. This is because the MCC of your hotel is just that, a hotel, which leaves your credit card issuer blind to what you really bought.

    Unfortunately situations like these often offer very little recourse, as your card’s issuer has no ability to change these codes. In fact, only the major credit companies can change their own code selections.

    New cardholders will often receive cash back promotions and bonuses. These offers can either be recurring — monthly, quarterly, yearly, etc. — or simply for just one period of time, usually at the beginning of your account’s life. Hypothetically, a recurring bonus might look like this: “Earn 3% cash back at supermarkets and wholesale clubs, up to $1,500 in purchases each quarter.” On the other hand, a one-time promotion might allow for 5% cash back on airfare purchases made during the first three months you’re a cardholder.

    Depending on your card, cash back may be capped or it could expire after a period of time. While some cards feature both an earnings limit and expiration dates, others may have no restrictions. All cash back cards have their own, unique system surrounding them. So it’s important to refer to your documentation whenever you have a particular question.

    Using Your Cash Back Earnings

    How Does Cash Back Work?

    The vast majority of cash back credit cards offer variations of the same choices for redeeming rewards. Most often, you’ll see statement credits, checks, bank account deposits, gift cards and charitable donations available to you.

    • Statement credit – Instead of receiving your cash back in-hand, you can apply it to your upcoming monthly bill, saving you money in the process.
    • Check – As one of the more direct ways of redeeming cash back, checks allow you to basically do whatever you want with its value.
    • Bank deposits – Eligible accounts usually include checking accounts, savings accounts or investment accounts.
    • Gift cards – With this option, you can convert cash back into retail credit at a store or website at which you want to shop.
    • Donations – Many card issuers have open relations with charities. These partnerships open the door for you to aid your favorite causes with real money.

    It’s by far the easiest to redeem cash back through your card issuer’s website that it provides. Here you’ll not only see your rewards status, you will also know every possible redemption you could make. If you’d rather talk to a real person, most companies still have rewards phone lines you can call, as well.

    Those who’d rather not have to worry about where their rewards currently stand will find that a redemption threshold might be helpful. Not all cards offer this feature. But if yours does, set a threshold at which your cash back is automatically redeemed in any manner you desire. Additionally, some cards require you to attain a certain amount of cash back before redeeming is possible.

    Cash Back With Each Major Credit Card Company

    what is cash back

    There are tons of different cash back cards, depending on your credit score you may be eligible for some but not others. While it’s impossible to give universal specifics for each credit card company, below we’ve provided overviews of some of the most popular cash back cards.

    Citi Double Cash Card (Mastercard)

    Cash Back Rate: 1% at the time of purchase, 1% when you pay them off

    Limit or Expiration: No limit; Expires if no eligible purchases are made for 12 months

    Redemption Options: As a check, statement credit or gift card

    The “double cash” nature of the Citi Double Cash Card means you effectively earn cash back twice: first when you make the initial purchase and again when you pay your credit card bill. The 12-month expiration is fairly standard and the lack of limits on how much cash back you can earn is generous. Statement credits, checks and gift cards are three of the most common redemption choices, so it’s no surprise to see them offered here.

    Bank of America® Cash Rewards credit card (Mastercard)

    Cash Back Rate: 3% in the category of your choice, 2% on purchases at grocery stores and wholesale clubs, 1% on other purchases

    Limit or Expiration: Cash back on choice category, grocery stores and wholesale club purchases is limited on up to $2,500 in combined purchases each quarter; No expiration dates

    Redemption Options: Once you have $25 or more, you can redeem as a statement credit, a check or a deposit to an eligible Bank of America® or Merrill Lynch® account

    Take note of the combined $2,500 quarterly limit on 3% and 2% cash back in category of choice and at grocery stores and wholesale clubs, respectively. The Bank of America® Cash Rewards credit card also requires cardholders to have a minimum of $25 in earned cash back before they can redeem.

    Blue Cash Everyday American Express Card (American Express)

    Cash Back Rate: 3% on U.S. supermarket purchases, 2% on U.S. gas stations and select U.S. department store purchases, 1% on other purchases

    Limit or Expiration: 3% rate at U.S. supermarkets is limited to $6,000 a year in purchases then drops to 1%; No expiration dates

    Redemption Options: After earning at least $25, redeem as a statement credit in $25 increments; Gift cards and merchandise redemptions from time to time

    Amex offers some of the strongest rewards cards around, and the Blue Cash Everyday American Express Card is no exception. It does come with some limits; namely the 3% cash back rate on U.S. grocery store purchases is capped at $6,000 in purchases a year. At that time, cardholders earn 1% in cash back on groceries.

    Discover it® Card (Discover)

    Cash Back Rate: 5% in rotating categories like gas station, supermarket, restaurant, Amazon.com and wholesale club purchases, 1% on other purchases; Full cash back match at the end of your first year

    Limit or Expiration: $1,500 cap on purchases that earn the 5% rate each quarter; No expiration dates

    Redemption Options: Statement credits, deposits to a bank account, gift cards and eCertificates, pay with cash back at select merchants and charitable donations

    Discover cards offer great first-year cash back matches and distinctive cash back categories. These traits are on full display with the Discover it® Card. This includes 5% cash back on purchases ranging from dining to Amazon.com. However, there are limits for this rate and you have to opt in to categories each quarter to qualify. This card also offers five redemption options — the most on this list.

    Tips to Maximize Cash Back Potential and Minimize Credit Risk
    • Cash back is one of the most prolific perks that the modern credit card market has to offer. But it’s important that you don’t overspend outside of your means just for the sake of rewards. Because many cash back cards come with higher annual percentage rates (APRs), this could force you into large, unsustainable interest payments.
    • Whenever possible, swipe your card for purchases in bonus categories. Not all cards have these to offer, but most do. So make sure you know which cards in your wallet offer bonuses at places like gas stations and supermarkets.
    • Know what types of redemptions — statement credits, bank account deposits, gift cards etc. — work best for you. This will drastically narrow down your card options, making the decision process much simpler.

    Photo Credit: ©iStock.com/4×6, Â©iStock.com/Pgiam, Â©iStock.com/Ridofranz

    Editorial Note: This content is not provided by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the issuer.

    Advertiser Disclosure: The card offers that appear on this site are from companies from which SmartAsset.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). SmartAsset.com does not include all card companies or all card offers available in the marketplace.

    The post How Does Cash Back Work? appeared first on SmartAsset Blog.


    Source: smartasset.com

    Best Credit Cards for Bad Credit

    by Phillip Warren

    When it comes to excuses consumers give for their poor credit scores, banks and lenders have heard it all. 

    Maybe you lost your job and couldn’t pay your student loan payment for a few months. Or perhaps you thought you’d gotten a deferment but were too busy job hunting to find out for sure. 

    Maybe you thought you paid your credit card bill but it’s actually sitting on your kitchen counter waiting for the mail.

    Whatever the reason for your low credit score, one thing is for certain — lenders don’t care.

    In fact, banks and other lenders lean on your credit score and other factors to determine whether they should approve you for a credit card or a loan — and that’s about it. Your personal situation is never considered, nor should it be.

    It would be wonderful if credit card companies understood that “life happens” and made special exceptions to help people out, but that’s not the world we live in.  As most of us already know, that’s not typically how credit works. Credit cards are backed by banks, and banks have rules for a reason.

    Now, here’s the good news: Credit cards can help rebuild your credit, earn cash back for each dollar you spend, make travel easier, and serve as an emergency fund if you’re stuck paying a huge bill at the last minute. This is true even if you have poor credit, although the selection of credit cards you can qualify for may be somewhat limited. 

    Keep reading to learn about the best credit cards for bad credit, how they work, and how you can get approved.

    Best Cards for Bad Credit This Year

    Before you give up on building credit, you should check out all the credit cards that are available to consumers who need some help. Our list of the best credit cards for bad credit includes some of the top offers with the lowest fees and fair terms.

    • Total Visa®
    • Discover it® Secured
    • Credit One Bank® Visa® Credit Card
    • Secured Mastercard® from Capital One®
    • Milestone® Gold Mastercard®
    • Credit One Bank® Unsecured Visa® with Cash Back Rewards

    #1: Total Visa®

    The Total Visa® is one of the easiest credit cards to get approved for in today’s market, and it’s easy to use all over the world since it’s a true Visa credit card. However, this card does come with high rates and fees since it’s available to consumers with poor credit or a limited credit history.

    Processing your application will cost $89, which is extremely high when you consider the fact that most credit cards don’t charge an application fee. You’ll also pay an initial annual fee of $75 and a $48 annual fee for each year thereafter.

    Once you sign up, you’ll be able to pick your preferred card design and your credit card payments will be reported to all three credit reporting agencies — Experian, Equifax, and TransUnion. This is the main benefit of this card since your on-time payments can easily help boost your credit score over time. 

    For the most part, the Total Visa® is best for consumers who don’t mind paying a few fees to access an unsecured line of credit. Since this card doesn’t dole out rewards, however, there are few cardholder perks to look forward to. 

    • APR: 35.99% APR
    • Fees: Application fee and annual fee
    • Minimum Credit Score: Not specified
    • Rewards: No

    #2: Discover it® Secured

    While secured cards don’t offer an unsecured line of credit like unsecured credit cards do, they are extremely easy to qualify for. The Discover it® Secured may not be ideal for everyone, but it does offer a simple online application process and the ability to get approved with little to no credit history.

    Keep in mind, however, that secured cards do work differently than traditional credit cards. With a secured credit card, you’re required to put down a cash deposit upfront as collateral. However, you will get your cash deposit back when you close your account in good standing.

    Amazingly, the Discover it® Secured lets you earn rewards with no annual fee. You’ll start by earning 2% back on up to $1,000 spent each quarter in dining and gas. You’ll also earn an unlimited 1% back on everything else you buy.

    The Discover it® Secured doesn’t charge an application fee or an annual fee, although you’ll need to come up with the cash for your initial deposit upfront. For the most part, this card is best for consumers who have little to no credit and want to build their credit history while earning rewards.

    • APR: 24.74%
    • Fees: No annual fee or monthly fees
    • Minimum Credit Score: Not specified
    • Rewards: Yes

    #3: Credit One Bank® Visa® Credit Card

    The Credit One Bank® Visa® Credit Card is another credit card for bad credit that lets you earn rewards on your everyday spending. You’ll earn a flat 1% cash back for every dollar you spend with this credit card, and since it’s unsecured, you don’t have to put down a cash deposit to get started.

    Other benefits include the fact you can get pre-qualified for this card online without a hard inquiry on your credit report — and that you get a free copy of your Experian credit score on your online account management page.

    You may be required to pay an annual fee up to $95 for this card for the first year, but it depends on your creditworthiness. After that, your annual fee could be between $0 and $99.

    • APR: 19.99% to 25.99%
    • Fees: Annual fee up to $95 the first year depending on creditworthiness; after that $0 to $99
    • Minimum Credit Score: Not specified
    • Rewards: Yes

    #4: Secured Mastercard® from Capital One®

    The Secured Mastercard® from Capital One® is another secured credit card that extends a line of credit to consumers who can put down a cash deposit as collateral. This card is geared to people with bad credit or no credit history, so it’s easy to get approved for. One downside, however, is that your initial line of credit will likely be just $200 — and that doesn’t give you much to work with. 

    On the upside, this card doesn’t charge an annual fee or any application fees. That makes it a good option if you don’t want to pay any fees you won’t get back.

    You’ll also get access to 24/7 customer service, $0 fraud liability, and other cardholder perks.

    • APR: 26.49%
    • Fees: No ongoing fees
    • Minimum Credit Score: Not specified
    • Rewards: No

    #5: Milestone® Gold Mastercard®

    The Milestone® Gold Mastercard® is an unsecured credit card that lets you get pre-qualified online without a hard inquiry on your credit report. You won’t earn any rewards on your purchases, but you do get benefits like the ability to select your card’s design, chip and pin technology, and easy online account access.

    You will have to pay a one-time fee of $25 to open your account, and there’s an annual fee of $50 the first year and $99 for each year after that.

    • APR: 24.90%
    • Fees: Account opening fee and annual fees
    • Minimum Credit Score: Not specified
    • Rewards: No

    #6: Credit One Bank® Unsecured Visa® with Cash Back Rewards

    The Credit One Bank® Unsecured Visa® with Cash Back Rewards lets you earn 1% back on every purchase you make with no limits or exclusions. There’s no annual fee or application fee either, which makes this card a winner for consumers who don’t want to get hit with a lot of out-of-pocket costs.

    As a cardholder, you’ll get free access to your Experian credit score, zero fraud liability, and access to a mobile app that makes tracking your purchases and rewards a breeze. You can also get pre-qualified online without a hard inquiry on your credit report.

    • APR: 25.99%
    • Fees: No annual fee or application fee
    • Minimum Credit Score: Not specified
    • Rewards: Yes

    The Downside of Credit Cards with Bad Credit

    While your odds of getting approved for one of the credit cards for bad credit listed above are high, you should be aware that there are plenty of pitfalls to be aware of. Here are the major downsides you’ll find with these credit cards for bad credit and others comparable cards:

    • Higher fees: While someone with excellent credit can shop around for credit cards without any fees, this isn’t the case of you have bad credit. If your credit score is poor or you have a thin credit profile, you should expect to pay higher fees and more of them.
    • Higher interest rates: While some credit cards come with 0% interest for a limited time or lower interest rates overall, consumers with poor credit typically have to pay the highest interest rates available today. Some credit cards for bad credit even come with APRs as high as 35%.
    • No perks: Looking for cardholder benefits like cash back on purchases or points toward airfare or movie tickets? You’ll need to wait until your credit score climbs back into “good” or “great” territory. Even if you can find a card for applicants with bad credit that offers cash back, your rewards may not make up for the higher fees.
    • No balance transfers: If you’re looking for relief from other out-of-control credit card balances, look elsewhere. Credit cards for bad credit typically don’t offer balance transfers. If they do, the terms make them cost-prohibitive.
    • Low credit limits: Credit cards for bad credit tend to offer initial credit limits in the $300 to $500 range with the possibility of increasing to $2,000 after a year of on-time monthly payments. If you need to borrow a lot more than that, you’ll have to consider other options.
    • Security deposit requirement: Secured credit cards require you to put down a cash deposit to secure your line of credit. While this shouldn’t necessarily be a deal-breaker — and it may be required if you can’t get approved for an unsecured credit card — you’ll need to come up with a few hundred dollars before you apply.
    • Checking account requirement: Most new credit card accounts now require cardholders to pay bills online, which means you’ll need a checking account. If you’re mostly “unbanked,” you may need to open a traditional bank account before you apply.

    Benefits of Improving Your Credit Score

    People with bad credit often consider their personal finances a lost cause. The road to better credit can seem long and stressful, and it’s sometimes easier to give up then it is to try to fix credit mistakes you’ve made in the past.

    But, there are some real advantages that come with having at least “good” credit, which typically means any FICO score of 670 or above. Here are some of the real-life benefits better credit can mean for your life and your lifestyle:

    • Higher credit limits: The higher your credit score goes, the more money banks are typically willing to lend. With good credit, you’ll have a better chance at qualifying for a car loan, taking out a personal loan, or getting a credit card with a reasonable limit.
    • Lower interest rates: A higher credit score tells lenders you’re not as risky as a borrower —a sign that typically translates into lower interest rates. When you pay a lower APR each time you borrow, you can save huge amounts of money on interest over time.
    • Lower payments: Borrowing money with a lower interest rate typically means you can usually get lower payments all your loans, including a home loan or a car loan.
    • Ability to shop around: When you’re an ideal candidate for a loan, you can shop around to get the best deals on credit cards, mortgages, personal loans, and more.
    • Ability to help others: If your kid wants to buy a car but doesn’t have any credit history, better credit puts you in the position to help him or her out. If your credit is poor, you won’t be in the position to help anyone.
    • More options in life: Your credit score can also impact your ability to open a bank account or rent a new apartment. Since employers can request to see a modified version of your credit report before they hire you, excellent credit can also give you a leg up when it comes to beating out other candidates for a job. 

    In addition to the benefits listed above, most insurance companies now consider your credit score when you apply for coverage. For that reason, life, auto, and home insurance rates tend to be lower for people with higher credit scores.

    This may seem unfair, but you have to remember that research has shown people with high credit scores tend to file fewer insurance claims.

    How to Improve Your Credit: Slow and Steady

    When you have a low credit score, there are two ways to handle it. If you don’t mind the consequences of poor credit enough to do anything about it, you can wait a decade until the bad marks age off your credit report. Depending on when your creditors give up and write off your debt, you may not even need to wait that long.

    If you don’t like the idea of letting your credit decay while you wait it out, you can also try to fix your past credit mistakes. This typically means paying off debt — and especially delinquent debts — but it can also mean applying for new loan products that are geared to people who need to repair their credit.

    If you decide to take actionable steps to build credit fast, the credit cards on this page can help. They’ll give you an opportunity to show the credit bureaus that you’ve changed your ways.

    Before you take steps to improve your credit score, however, keep in mind all the different factors used to determine your standing in the first place. The FICO scoring method considers the following factors when assigning your score:

    • On-time payments: Paying all your bills on time, including credit cards, makes up 35% of your FICO score. For that reason, paying all your bills early or on time is absolutely essential.
    • Outstanding debts: How much you owe matters, which is why paying off your credit cards each month or as often as possible helps your score. According to myFICO.com, the amounts you owe in relation to your credit limits make up another 30% of your FICO score.
    • New credit: Apply for too many new cards or accounts at once can impact your score in a negative way. In fact, this determinant makes up another 10% of your FICO score.
    • Credit mix: Having a variety of open accounts impresses the credit bureau algorithm Gods. If all you have are personal loans right now, mixing in a credit card can help. If you already have four or five credit cards, it may be wise to back off a little.
    • Length of credit history: The length of your credit history also plays a role in your score. The longer your credit history, the better off you are.

    If you want to improve your credit score, consider all the factors above and how you can change your behavior to score higher in each category. It’s pretty easy to see how paying all your bills early or on time and paying off debt could make a big positive impact on your credit score when you consider that these two factors alone make up 65% of your FICO score.

    If you want a way to track your progress, also look into an app like Credit Karma, one of my favorite tools. This app lets you monitor your credit progress over time and even receive notifications when your score has changed. Best of all, it’s free.

    Should You Use a Credit Card to Rebuild Your Credit Score?

    If you’re on the fence about picking up a credit card for bad credit, your first step should be thinking over your goals. What exactly are you trying to accomplish?

    If you’re looking for spending power, the cards on this list probably won’t help. Some are secured cards, meaning you need a cash deposit to put down as collateral. Others offer low credit limits and high fees and interest rates, making them costly to use over the long-term.

    If you really want to start over from scratch and repair credit mistakes made in the past, on the other hand, one of these cards may be exactly what you need. If you’re determined to improve your score, they can speed things along.

    You may pay higher fees and interest rates along the way, but it’s important to remember that none of the cards on this list need to be your top card forever. Ideally, you’ll use a credit card for poor credit to rebuild your credit and boost your score. Once you’ve reached your goal, you can upgrade to a new card with better benefits and terms.

    The post Best Credit Cards for Bad Credit appeared first on Good Financial Cents®.


    Source: goodfinancialcents.com

    How Long Does It Take To Get a Credit Card?

    by Phillip Warren

    Generally speaking, it takes seven to 10 business days to get a credit card once you’re approved. The specific amount of time can vary as many factors throughout the process affect how fast you receive your card. Getting approved can happen in a matter of seconds or days, depending on what kind of card you apply for. Whether you apply online or in person may also affect how fast you’ll receive your credit card in the mail.

    How Long Does It Take to Get My Card in the Mail?

    The longest step in getting a credit card is waiting for it to come in the mail. Shipping time frames can vary depending on which credit card you apply for. Here are the average time frames of many popular credit card companies today:

    • American Express: seven to 10 business days
    • Wells Fargo: seven to 10 business days
    • Discover: three to five business days
    • Capital One: seven to 10 business days
    • Bank of America: seven to 10 business days
    • Chase: three to 5 business days
    • Citi: seven to 10 business days

    Unfortunately, the time it takes for the credit card to go through the mail can be impacted by many factors out of your control. You may get your card sooner than stated above, or later if there are external mail carrier issues.

    How to Get a Credit Card Right Away

    Unfortunately, most credit cards aren’t made available to you the same day you apply. Even though you can get approved for a card almost instantly, you must still wait for the card to come in the mail. However, credit card companies sometimes offer options to help speed up the process.

    Most banks offer expedited shipping if you need your card delivered faster than usual. Depending on what type of card and bank you apply with, they may charge you an extra fee for this option. Some banks will make things easier for you by giving you your credit card number right after approval. This allows you to start making purchases while waiting for the physical card to arrive. American Express typically allows this with all of their cards to increase their user satisfaction.

    What to Do If You Haven’t Received Your Card Yet

    If you notice that you haven’t received your card after some time, reach out to your bank or credit card company. By reaching out, you minimize the risk of the card getting lost or stolen. Your bank may also be able to provide you with a temporary card while they sort everything out. Not all lenders, but if they do they may charge you an additional fee.

    How To Apply for a Credit Card

    To get a credit card, you must first apply either online or in person for approval. Receiving the credit card itself and waiting to be approved are two separate steps. Therefore, the time it takes to receive your card can vary from person to person.

    What Do Creditors Look for in Applications?

    Credit card applications typically ask for your personal information as well as your financial background. To determine your financial background, they’ll ask for your Social Security number and source of income.

    Your Social Security number will allow the creditors access to your credit report. After close evaluation, you’ll either be approved or declined for the card. When looking at your report, creditors typically pay close attention to data such as your debt-to-income ratio, hard inquiries, and any delinquent accounts you may have.

    What Do Creditors Look for In a Credit Report?

    Your debt-to-income ratio refers to how much of your card’s limit is spent. Consistently using too much of your limit may cause creditors to view you as more of a high-risk borrower. Similarly, too many hard inquiries can make you seem risky. Finally, a delinquent account is another red flag. This shows that you may not have been paying off your credit card bills on time. Lenders won’t be as willing to approve you for a credit card if you have a history of account delinquency, as it’s not a good sign for them that you’ll be a reliable borrower.

    Some credit card companies pre-approve users who they think may be a good fit based on a soft version of their credit report. A soft version of your report gives lenders a glimpse of your financial background, but won’t affect your credit score. When your report shows that you meet a few requirements, they’ll send a card in the mail for you to use if you apply. Receiving the card in the mail doesn’t mean that you are automatically approved. It just helps speed up the process of getting a credit card. Pre-approving users is a way companies market their cards to users, in hopes of them applying later on.

    How to Build Credit With a Credit Card

    When you use a credit card, you build credit simultaneously. The way you manage and use your card can have either a positive or negative effect on your credit score.

    How Long Does It Take to Build Credit?

    If this is your first time using a credit card, then you are most likely building credit from scratch. Building a credit score doesn’t happen overnight. It usually takes about six months or so to build enough credit to have a credit report. Beginning early can be of great benefit to you down the line. A major factor in the calculation of your credit score is the length of your credit history. The longer you’ve spent building your credit, the more of a positive impact it can have on your score.

    Ways to Keep Your Credit Score Healthy

    When using a credit card, it can pay off in the long run to follow some best practices. You can do this by having a good understanding of what exactly factors into your credit score. The following are good habits to establish for maintaining a healthy score:

    • Make on-time payments to avoid a delinquent account.
    • Aim to only use 30 percent of your credit limit at a time to show you can manage your card wisely.
    • Avoid applying to too many cards or loans in a short time, as it can result in a hard inquiry. Too many hard inquiries can be the reason you are getting declined for your financial requests.
    • Stay on top of monitoring your credit score and report, so you can identify any mistakes before it’s too late to fix.

    Buildig Credit Best Practices

    While the most common time frame for getting a credit card is seven to 10 days, it can vary from person to person. If this seems like a long time, try reaching out to your bank. They may be able to expedite shipping or give you access to your credit card number in advance. Each credit card lender is different, so it’s important to do your research before applying. Take a look at our guide on the best credit card offers to help start your search.

    The post How Long Does It Take To Get a Credit Card? appeared first on MintLife Blog.


    Source: mint.intuit.com

    Update on the Multifamily Market

    by Phillip Warren

    Thinking about an apartment investment? Despite reports of slowdowns and an oversupply in some markets around the country, a new national report from Yardi Matrix…

    The post Update on the Multifamily Market first appeared on Century 21®.


    Source: century21.com

    Former Virginia Estate of Radio and TV Legend Arthur Godfrey Listed for $2.3M

    by Phillip Warren
    Arthur Godfrey Virginia Estaterealtor.com, Walt Disney Television/Getty Archives

    The Virginia equestrian estate once owned by the radio and television host Arthur Godfrey is now on the market for $2.3 million. That price is much less than the late entertainer was asking for the property when he put it on the market way back in 1977—for $6 million.

    Of course, there’s a not-so-minor explanation for this. Five decades ago, the property in Paeonian Springs, VA, now 37.7 acres, was quite a bit bigger, 1,967 acres, to be exact.

    Even with a reduced footprint, the estate, located about an hour northwest of Washington, DC, still offers multiple homes, barns, and entertainment facilities. A buyer could use it for a plethora of purposes, including as a family compound, bed-and-breakfast, or event venue.

    There’s certainly no shortage of living space. The main residence is a 1912 Tudor-style manor house with a whopping 12 fireplaces. Built from imported Flemish brick, the six-bedroom home has a powder room, a formal living room, dining room, a parlor with beamed ceilings, as well as a large modern kitchen with an island and an adjacent breakfast room.

    Exterior of house in Paeonian Springs, VA

    realtor.com

    The former estate of Arthur Godfrey

    realtor.com

    Family room

    realtor.com

    One of several kitchens

    realtor.com

    In the 1980s, a modern addition expanded the main house and added an extra kitchen, four more bedrooms, and extra public rooms. A detached three-car garage nearby has a one-bedroom apartment.

    Modern addition

    realtor.com

    Living room

    realtor.com

    To house a busload of visitors, there’s also a separate “staff house” with 13 bedrooms, 9.5 bathrooms, three kitchens with three living and dining room areas, two conference rooms, and two offices. This structure on its own could serve as a decent hotel.

    Additional accommodations

    realtor.com

    The compound also includes a large party barn that was once used as an indoor ice rink. It’s quaintly constructed from 200-year-old timbers reclaimed from a barn in Pennsylvania. Several special events have taken place in the barn, with doubtless more to come.

    Party barn made of reclaimed logs

    realtor.com

    Main room of party barn

    realtor.com

    Two other barns complete the offering: a four-stall barn and a 17-stall, center-aisle barn with ample storage for farm equipment and a two-bedroom apartment on the upper level.

    The Godfreys maintained a beef cattle ranch and horse farm when they owned the sprawling property. Godfrey’s second wife, Mary, was an avid horsewoman.

    Equestrian barn

    realtor.com

    Larger barn

    realtor.com

    Stalls

    realtor.com

    The property has a bucolic and historic feel, but it is wired for high-speed internet throughout—a boon for a buyer who wants to work from home. Godfrey, who passed away in 1983 at age 79, was quick to adopt the latest technology, and successive owners followed that tradition.

    Godfrey was also into aviation. He was a licensed pilot and close friend of the World War I flying ace Eddie Rickenbacker, who became the president of Eastern Airlines.

    Rickenbacker tricked out a Douglas DC-3 with executive jet accommodations and gave it to his friend. Godfrey owned the Leesburg airport and used the plane to commute from the estate to the studios where his TV show was produced every Sunday night.

    The property has a storied history, and was said at one point to be the biggest and most important social property in the area, second only to the White House. There are also reports that the estate was owned by a Saudi prince after Godfrey sold it.

    Godfrey was born in Manhattan, served in the Navy and Coast Guard as a radio specialist, and eventually parlayed his experience into a career as a host on some of the top radio stations on the East Coast.

    He moved into television in the early days of the medium, with shows including “Arthur Godfrey’s Talent Scouts,” “Arthur Godfrey Time,” and “Arthur Godfrey and His Friends,” broadcast simultaneously on TV and radio.

    The post Former Virginia Estate of Radio and TV Legend Arthur Godfrey Listed for $2.3M appeared first on Real Estate News & Insights | realtor.com®.


    Source: realtor.com

    Trophy Apartment Once Owned by Composer Leonard Bernstein Asks $29.5 Million

    by Phillip Warren

    An Upper East Side apartment that was once home to one of the most significant American cultural personalities of the 20th century has recently hit the market.

    The Art Deco masterpiece at 895 Park Avenue was previously owned by famed composer and cultural icon Leonard Bernstein, whom music critics refer to as “one of the most prodigiously talented and successful musicians in American history”. In fact, this very property is where Bernstein — also a lifelong humanitarian, civil rights advocate, and peace activist — hosted an infamous “radical chic” party with and in support of the Black Panther Party back in 1970.

    But its famous past owner is not the building’s only historical trait; built in 1929, it is designed in the classic Art Deco style, evoking New York City’s golden age glamour and sophistication. That, paired with its carefully preserved original architectural details (original wood-burning fireplaces and wide-plank wood floors) and panoramic Manhattan views make this residence a true gem.

    perfect manhattan views from luxury apartment
    Image credit: Warburg Realty

    Clocking in at approximately 6,300 square feet, with an extra 700 square feet of private outdoor space, the 895 Park Avenue unit spans over two floors of the 21-story Upper East Side building. The entrance is through a private elevator landing which opens into a 34-foot grand gallery, further leading into the residence’s elegant formal living room, library, and dining room.

    With 6 bedrooms and 6.5 bathrooms, the trophy apartment also comes with an enclosed solarium that’s bathed in sunlight and that, just like the rest of the rooms and outdoor spaces, opens up to picture-perfect views of the city.

    beautiful solarium in Manhattan apartment
    Image credit: Warburg Realty
    Image credit: Warburg Realty
    Image credit: Warburg Realty

    A grand staircase leads to the lower level, which houses the 6 bedrooms, as well as a home office and laundry room. All but one of the bedrooms enjoys their own en-suite bathroom as well as significant storage space in the form of walk-in closets or dressing rooms.

    Image credit: Warburg Realty

    The building itself adds an extra note of sophistication and convenience; the full-service white glove co-op has a long list of amenities, including multiple doormen, an elevator attendant, health club, squash court, basketball court, and private storage units. Though location itself may be its biggest asset: 895 Park Avenue is located right in the heart of the Upper East Side, on the southeast corner of 79th street and Park Avenue, providing direct access to world-class dining and shopping.

    Priced at $29.5 million, the elegant unit is listed with Bonnie Chajet, Allison Chiaramonte, and Tania Isacoff Friedland of Warburg Realty.

    More luxury apartments

    This $16M NYC Penthouse Has Unobstructed Views of Central Park and the Manhattan Skyline
    Power Couple Loren & JR Ridinger Selling Palatial Unit in Jean Nouvel-Designed Building
    These 5 Unique Listings Will Remind You of Everything that Makes NYC Real Estate Special
    Former Home and Office of Marilyn Monroe’s Psychiatrist Listed for Sale in Manhattan

    The post Trophy Apartment Once Owned by Composer Leonard Bernstein Asks $29.5 Million appeared first on Fancy Pants Homes.


    Source: fancypantshomes.com

    YouTube Star Tati Westbrook Puts Sherman Oaks Home on the Market

    by Phillip Warren

    Famous YouTube beauty guru, Tati Westbrook, recently listed her Sherman Oaks, California home for nearly $4 million.

    The post YouTube Star Tati Westbrook Puts Sherman Oaks Home on the Market appeared first on Homes.com.


    Source: homes.com