Category Archives: Financial Advice

Factors to Consider when Renting Your House on Airbnb

Many individuals in the world consider renting their house or part of it to Airbnb as a quick and effective way of making money. This type of business can make home owners acquire the funds they need to pay for the property and meet some other expenses in the home. The travelers are hosted for just a period of time, and they pay the home owners a good amount of money.

In the recent past, some incidences in this type of business have clearly shown that there can be some serious problems. These travelers are just temporary renters, and they can damage the house, and the insurance used by the home owners might not cover these damages. When these incidences happen, the home owners are left with financial and legal problems they had not anticipated in the first place. Some of the damages caused by the temporary renters might end up costing the amateur hoteliers more money that what they make from renting the property.

If you are thinking about renting your house or part of it on Airbnb or any other
organization, there are some issues you must consider. Here are some of them:
Insurance coverage: most of the short term rentals are not covered by the insurance policy used by the home owners. This means that the home owner is responsible and also liable for the expenses brought by the guests.

Risks: when you have tenants in your house, there are various risks you are exposed to. The moment you take in guests in your house, you will be liable for the injuries they might get, the damages they can cause your property or that of your neighbor, illegal activities, theft and lawsuits that can be caused by actions committed by the guests. In some cases, the tenants refuse to pay the home owners.

Protection: Airbnb and the rest of the organization in this industry offer secondary protection to the homeowners. These organizations do not offer any help until the homeowners have exhausted all their resources.

After getting these issues in to consideration, the home owner can then decide to take the short term guests in. when you have made your decision, it is vital to speak to qualified professionals such as investment managers such as Richard Blair.

Richard Blair is the founder of Wealth Solutions, and he has experience to help home owners with the right options when making such a decision. Richard Blair has worked in the industry for over twenty two years, meaning that he has all the experience needed.

Learn more about Richard Blair:

The Midas Legacy: Wealth Management Advisory Done Right

Things can sometimes be very difficult for individuals looking to manage their own wealth. Knowing which decisions are the best can be difficult to determine, which is why having a personal wealth management advisor available is a very wise option. The Midas Legacy is a prestigious wealth management agency that provides these services and more.

Multiple services
Headquartered in Winter Garden, Florida, The Midas Legacy prides itself on its ability to assist every client with reaching, and even exceeding their goals. Their services aren’t limited to just wealth management and advisory, and they can assist companies and individuals with just about any endeavor that they may have. If there is a question of whether or not The Midas Legacy can provide assistance, then it’s easy to contact them with an inquiry. The group of professionals has even assisted best-selling authors with becoming successful, as well as many others.

In addition to advising their clients on how to manage and grow their money, The Midas Legacy offers these additional services:

– Assistance for individuals desiring to retire at an earlier age

– Individuals interested in utilizing nature to cure their illnesses

– Novice entrepreneurs seeking guidance

And much more!

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Want a happier, healthier, & wealthier life? Find The Midas Legacy

Midas Legacy – About Us

Any business or individual choosing to become a member of The Midas Legacy will automatically receive a free book titled, The Midas Code. New and existing members will also receive the absolute best advice and guidance, and they will notice results in a short period of time, regardless of their goals.

The Midas Legacy Experts
The experts at the Midas Legacy work as a team. Each expert has something unique to contribute to the group, which therefore assists clients in meeting their goals. The group consists of a best-selling author who also specializes in real estate, trading, and entrepreneurship. Another Midas Legacy expert is a chief editor, journalist and financial expert. There is also a natural health expert in the group. He is very knowledgeable and has conducted extensive research on numerous health-related topics. He can advise clients on how to heal their bodies using alternative methods.

The Midas Legacy is proud to be a unique group of expert consultants who can enrich and improve anyone’s life with their guidance. It’s easy to contact the group, either by phone or email, and they will be glad to answer any questions that prospective clients may have.

Learn more about The Midas Legacy:

Avoid using AirBnB

AirBnB is an extremely popular travel app. People around the country love using this app to book a place when they travel. Many homeowners use AirBnB as a way to gain income. This seems like a great idea, but it can open you up to unnecessary risk.

Many financial advisors and wealth management advisors strongly advise their clients not to put their homes on AirBnB. Allowing people to stay in your home for a fee actually exposes you to several risks. Many insurance companies do not cover damage caused by your temporary tenant, and also will not be protected from any illegal activity. AirBnB offers some insurance, but typically that insurance is inadequate to cover any liability costs or damages. Short-term guests are simply too big a risk to justify the small amount of money you will be making. When you agree to take in an AirBnB guest you are putting yourself, your family, and your personal wealth at risk. If you do decide to use AirBnB, please make sure that you are educated on the risks you are taking. To further protect your wealth, you should strongly consider consulting a wealth and investment manager. They can help you manage your wealth and leave a comfortable future for your children. One great wealth and investment manager is Richard Blair.

Richard Blair has worked in the wealth management field for many years, and he currently operates Wealth Solutions. Wealth Solutions is based in Austin, Texas and they have a great reputation within the community. Blair is an expert at reviewing his client’s wealth and helping them go over their options. He is particularly adept at financial planning, so he can help your family get on the right track financially.

Many believe that managing wealth is easy when you are extremely wealthy, but it is actually quite difficult. Those with extreme wealth must make savvy investments to keep and grow their wealth. Blair is extremely skilled at working with extremely wealthy clients. He helps them plan for the estate tax while also protecting their assets. Currently, Blair is managing more than $55 million in assets. His clients are extremely satisfied with his help and support.

Wealth can be extremely fleeting if you do not make the right decisions. You must avoid putting your home at risk, so avoid apps like AirBnB. At the same time, you must strongly consider hiring a wealth management expert.

Learn more about Richard Blair: