Before you decide to turn your dream of real estate riches into reality, you should familiarize yourself with the most common mistakes that new property investors make.
At one point or another everyone of has encountered this situation, not having enough money to make it to our next payday. A common solution to this problem that seems to becoming more popular is a payday loan. While a payday loan may be fast and convenient, it may not be the best solution. A payday loan company offers to loan you money based upon repaying it and a service fee on your next payday. This often seems like a perfect solution until you look closer. There is a simple reason as to why we are seeing more payday loan companies opening up and advertising so much. Payday loans are very profitable for those doing the lending due to the high interest rates and often end up being almost addictive for those borrowing the money. A recent national survey of payday loan companies found that only 37% of companies accurately reflected their interest rate. At most places the interest rates varied from 390% to 851% annually with the average being 474%. Payday loans are generally meant to be paid off on the next payday. Payday lenders loan out thousands of dollars every week to people who are in dire need of
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