In this ever changing world, it is always important for you to think outside the box and not rely on a single income or even rely on your formal job. Let’s face it, the world is increasingly becoming expensive and we would all love to live a certain life style. Unfortunately, not many of us can afford the lifestyle we would like to have, at least not with single formal employment. The fact that there is a high rate of unemployment today does not help the situation and this goes for both the educated and the uneducated alike.This, therefore calls for ways of how to make extra money to increase your income base. One of the ways that you could make some extra money is online. However, the question would be how you go about making some money online, especially given that the World Wide Web is filled with con artists and some not so honest jobs. Contrary to what you might think, it is actually possible for you to make money online without necessarily doing illegal or immoral things. Below are some of the legit ways of making money online in Uganda that have been tried and tested.Article or Content Writing and RewritingWriting is not only reserved for journalists but can be done by all who have a passion for it. If you love to read, then I guarantee that you can write as well, or at least you can learn to do so. There are a number of legitimate sites online that connect article writers to those who would like content to be written for them. Not that you will get a highly paying job as soon as you start, but like all things in life, your reputation will speak for itself. Slowly build a clientele and in a short time, you will have so much work to do, that you may not be able to finish it all. Some of the sites that you could start with are freelacer.com and fiverr.com among others. You could also look out for some blogs that are looking for paid content.Affiliate MarketingSell other people’s products online and make money. Affiliate marketing is that simple. If you have your own products, you could sell those but if you don’t, all you might need to do is pay a small fee to access other people’s content and start marketing it or selling it on their behalf to earn a commission.Start your own Website/BlogYou need not have a degree in computer engineering or programming to start your own website. There is so much content online as to how to start your own website right from choosing a domain to templates and design. Create your own website, post attractive or good content, get visitors and start earning money. However, for this to be a viable income generating activity, you need to employ some bit of creativity. Create a website that has content which will attract as many visitors as possible. Remember that the more traffic you receive on the site, the higher your earnings.Surveys and ReviewsThere are several websites online that offer payment for surveys and reviews of different products and services. You might be required to write reviews about certain products or take surveys on them. However, it will also require you to supply certain information to that website for example your credit card information or banking details. It might also require that you purchase the products or try out the services for you to be able to offer a proper input as to their quality. However, it is of utmost importance that you be careful when supplying your bank details since they can be used by fraudsters to rob you. In other words, only deal with websites that are genuine and remember that if a site is offering money that seems too good to be true, it probably could be a scam.Virtual AssistantshipIt is possible for you to work from home and work as a virtual assistant to businesses or companies that need help doing things like answering phones, responding to emails, data input and any other administrative support. You will most likely work with businesses that are too busy to do the work themselves and are looking for a work force that is not too expensive yet effective at the same time. You could choose to do this as a solo or make a company and partner with other virtual assistants especially if you are looking to dealing with big companies that might have loads of work. You too do not want to be overwhelmed and seem ineffective in the work given.Data EntryMany may argue that automation is threatening this kind of work today but I assure you there is still lots of data that needs to be entered in many companies in the world. This is one of the easiest jobs you can do online since it doesn’t require any special skill other than having a good typing speed and dedication. So if you get a data entry job, take it not for granted but do it effectively and it could bring for you some good money.Gaming and bettingGambling is also another thing that you could look into, though it is often best that this is combined with another job all together. For you to benefit from gaming, you need to do it responsibly and also understand the kind of game you intend to invest in. For example, if you are a football fan and understand the game and teams well, you are probably best placed to focus on betting on football than going into say, horse racing.The ways of making money online at home are endless and it is not possible to exhaust all of them in one single article or go. But whatever you try, remember that like all other jobs, you may have to start small and slowly grow your business. You could choose to do online work as full time or simply take it on on a part time basis as a way of earning some extra money. Whatever you decide, the work is out there and you need only go out and search for it.
Making Money Online in Uganda – A Quick Guide
Commercial Second Mortgage or Commercial Equity Line of Credit – Which is Better?
Commercial real estate investors often ask which is the more appropriate loan for their situation, the Commercial Equity Line of Credit or the Commercial Fixed Rate Second. Both of these loans sit in second lien position behind any existing first commercial mortgage, enabling investors to unlock equity and use those proceeds for other projects. Common uses include rehab capital or down stroke cash for new property acquisitions.The advice on which is the better loan program, depends on how the investor is planning on using the cash proceeds of the loan. We often caution investors to be realistic and thorough about predicting future property value as that has a major affect on potential loan options.For example, if the investor is purchasing a stabilized property and simply wants to pull cash out of an existing property to cover the down payment/closing costs it is often best to go with the Commercial Fixed Rate Second. The primary reason is a result of two factors 1. The subject property is stabilized – therefore has little room for rapid appreciation and 2. Bank restriction on cash out refinances. As of this writing, 95% of all funding sources will not go beyond 75% – 80% loan to value on commercial cash out refinances.Due to these two factors it might be 10 years or more before the value of the subject property catches up and puts the investor in the position to pull enough cash/equity out of the new property to pay off the second position loan. Said in another way, most investors do not want the risk of having a floating rate line of credit for length of time.Just the opposite advice would normally be given to investors purchasing properties that are unstabilized and have solid potential for increased value. So, the recommendation is to go with the Commercial Equity Line. Renovate the property, increase occupancy, increase gross income, etc. which in turn, increases the value of the subject property. Than refinance the first mortgage on the new property via a cash out refinance. Use the proceeds to pay off both the balance on the Equity Line and the balance on the first mortgage of the new property.Why bother? Why not just get a Fixed Rate Second and not worry about having to refinance the debt on the line? or have to worry about the rate increasing on the line? There are typically a couple of good reasons:
1. The rate of the Fixed Rate Second position loan is normally 50 bps to 150 bps higher than on a typical first position loan. By getting an overall lower rate, the investor’s portfolio cash flow should increase.
2. By paying of the balance on the Commercial Equity Line the investor now has access again to capital on the line to begin another project.Of course every situation is different and requires tailored strategies to put the investor in the best position possible. The idea is to just plan ahead and compensate for both the investors comfort zone as well as the restriction that the investor faces when dealing with funding sources.
A Simple Way to Manage Investments
One investment criterion important to many people, and perhaps to you, is: How easy are my investments to supervise? For example, does the investment require constant care, supervision, or expense, such as the complete or partial ownership of real estate property with its rental, repair, maintenance, taxation, and other management problems?Or does the investment require none of your time, such as your contributions to a pension fund? Some people feel confident and enjoy the time and effort that may go into managing their investments. Others have neither the skill, time, nor patience to bother with their investments. There are investments that satisfy both groups, depending on personal objectives.The best method to manage all investments is the Investment Portfolio Evaluation Grid. It is a great chart to help organize your present portfolio, even if your investments right now are some money in a savings account, or an IRA or pension plan.Start by creating 7 columns and input the following: Date, Cost, Present Market Value, % Total Portfolio Market, Annual Return, Yield, and % Return on Market.Next, input all your investments on the left in rows: Savings Accounts, U.S. Savings Bonds, Treasury Securities, Certificate of Deposit, Bonds-Tax-Free, Common Shares-Dividends, Preferred Shares, Blue-Chip Shares, Real Estate, Second Mortgages & Trust Deeds, IRA & Keogh Accounts, Pension Plans, Insurance Annuities, Growth Stocks, Undeveloped Real Estate, Precious Metals, Stock Options, Commodity Contracts, Commercial Paper, Other, and Total Portfolio.Determine the percentage of the market value of your portfolio as a whole. Divide the present market value of the individual investment by the total present market value of your portfolio. Determine the percentage of what it costs you to make an investment. This is easy to figure with interest bearing investments. A $1,000 10% bond you paid $1,000 for has a 10% yield. On stocks or real estate, estimate yield by dividing the amount of increase in value and/or dividend by the amount you paid. For example, if you paid $100 for a stock and received a $5 cash dividend, the yield would be 5%. Determine the percentage of the return on your portfolio as a whole. Divide the annual dollar return on all investments by the total present market value of your portfolio.For each investment you now have, fill in all the information you can in the columns to the right. The last three columns (Annual Return, Yield, and % Return on Market), tell how your investments have performed for you, as well as their relative value within your portfolio. If you do not have exact numbers for everything, do not worry. At this point you are just seeking an overview of what you have. A big picture will start to form that indicates how your money is allocated. You can also see what types of investment vehicles serve your objectives.If you are like many people who are just starting to invest, your grid is heavily weighted toward protection of principle. You may not even be aware of some of the listed investments. Before you get into the characteristics of different investments, you will benefit greatly from having a reference point with which to evaluate the various investment opportunities. Consider all the personal factors in your financial picture, including the other people affected by the decisions you will make.Forecast as much as possible, where your current and potential income sources will take you 5-20 years from now. What standard of living is important to you now and in the future? Will you need to provide for children? Do you wish to retire early? Where do you want to allocate investment and other disposable income? To a house in the hills? In world travel? To building a business?These and dozens of other personal questions should get some serious thought at this point. Do not be rigid. Expect your priorities and goals to change. But better a mutable plan for the future than none at all. Allow yourself to dream and get excited about the possibilities. Though it is difficult, even dangerous, to generalize about what investment objectives are most important to different groups, the following information will give you broad guidelines to consider, if you are:a) Single, with low to average working income, with a savings-oriented temperament, seek investments that produce income but that also provides some long-term capital growth.b) Single, with an average to high working income, and/or an aggressive temperament, seek investments with strong total return (the sum of the current yield and the capital-gain yield), concentrating on long-term, and high-growth vehicles.c) Married, with no dependents earning an average to high income growth-oriented but aggressive, look at safe income-producing investments, such as bonds and money-market mutual funds.d) Married, with dependents, a low to average income and a conservative temperament, seek secure investments with long-term growth in both capital and income, perhaps blue-chip stocks.e) An older person, with income from Social Security and some savings, and a goal of more income while preserving current capital, seek a conservative income fund that pays dividends and has appreciation value, or a money-market fund with a satisfactory yield.Take a look at your new chart and you will see Percentage of Portfolio typically allocated to investments goals. You can use this as a guideline when considering how to allocate your investment money. However, at a younger age, safety and capital gain has greater weight. In later years the need for income and safety of principle tends to increase.