Frugal tips for the busy person

Does your checking account pay you interest?  If not, take a lunch break and open a free interest-bearing checking account.  Nearly every bank is offering one.

Use banking software like Quicken or Microsoft Money to keep track of your expenses and scheduled payments (explained soon!) and have it installed on a safe computer that is convenient to you.  Be sure to keep up with it.

Don’t pay your mortgage late, but look at the dates.  Often mortgages are “due on the first” and “late on the 15th”.  Check and see what your mortgage company’s policy is.  It is often printed on your statement.  They usually don’t report late payments until they are 30+ days late.  Using this example, that means that they’d prefer you paid it by the first, but you have until the 15th to pay without any penalty.  This is a feature because mortgage companies know that life is full of circumstances beyond your control, so be careful with this tip.  Instead of paying by the first, schedule your payment online with a date that is more comfortable for you, say the 10th but make sure your money is in the bank by the 1st.  Now, from the 1st through the 10th, you will earn interest in your mortgage payment.  If you don’t, the mortgage company will!  In Quicken or other banking software, enter the payment with the paid date as the scheduled date.

Don’t stop there, schedule all of your payments.  Say your credit card payment is due on the 14th.  Instead of sending a payment now, schedule it online to pay on the 14th or earlier.  You will be getting the interest on your own money and won’t have to worry about remembering these deadlines

Once you get the hang of this system, it’s pretty handy.  Just be careful as you’re learning it.  You may be able to schedule all of your bills on just one day a week and not have to worry about it for the rest of the week!  I love using technology to make my life easier and to free up time for things that I enjoy like my friends & family, my pets, my clients, and of course blogging!

One less-known way to invest in Austin real estate is to invest with a builder. Basically, you purchase a lot and/or put the construction note in your name. Then the builder does all the work. In this climate, builders need capital while they sit on lot inventory and often even large spec home inventory. The profit split can be amazing and you can just sit back and wait for the home to be sold (aka payday). Of course, you still need to do your research. Builders in Austin are a dime a dozen these days — everyone wanted to get in on the boom in 2002 and 2006. See how long a builder has been in business and ask about success other investors have had. It’s a good idea to see if they will let you contact any previous investors as a reference.

Want more information? I’d be glad to point you in the right direction, so feel free to email me. After growing up in a real estate family in Austin, I’ve learned a few tricks myself.

Builders like Corias Homes, Inc. currently have investment opportunities available and have stood the test of time and work with only the best lots. Currently, Corias has a lot inventory available for investors:

• 8900 Calera Drive in Barton Creek just off the Fazio Canyon’s Golf Course
• 9407 Angelwylde Drive off Patterson Road in Westlake, a 7 acre estate lot
• 3107 Westlake Drive is a new 2 or 3 lot subdivision with Lake Austin Waterfront
• A 1 acre “interior Westlake” property will soon be available, email for details

The process is a simple one for the right investors, someone who can sit back and relax while their investment grows with the structure. I am happy to help anyone who would like more information as I have experience in this process!

Aria Schoenfelt
ariakristen@gmail.com
(512) 771-1776