Has anyone ever bought a fixer-upper house? Did you flip it?
Are you looking to buy your first home?
Are you thinking of buying a fixer-upper house as an investment and a long-term hold?
So, how much do you think you should put into it?
Let’s do some numbers.
If you need a mortgage, then the size of the mortgage should be no larger than three times your annual salary. So, if the household makes $150k per year, then it is probably not a good idea to shop for houses that sell for more than $450k.
The monthly mortgage payments should stay under 28% of your gross monthly income. Let’s say you make $5k per month (before taxes), then your monthly mortgage should not be more than $1400.
You should then be looking for a home that needs renovating for less than the difference to your budget. So, if $400,000 is a hard budget, then you would be looking for a $350,000 house that needs $50,000 in renovations.
How much should I renovate?
As a person who has done renovations on a home, I can tell you that estimates and actual costs rarely match. That’s why it is vitally important to leave room in your budget for all the surprises that will inevitably appear.
If the house is in a great position, but the problems will be extremely costly to repair, you should probably pass. For example, problems with foundations, an outdated electrical system, a broken plumbing system, or a leaky roof are kinds of repairs that can lead to a more costly and time-consuming situation where you don’t see the yield on that return on the sale as opposed to redoing the kitchen, redoing the bathrooms, and just painting the house and doing aesthetic items. Generally, owners and buyers are willing to pay a premium for the aesthetic items as opposed to those structural items that keep the house running and from falling apart. When I renovated my house, I concentrated on the kitchen(s) and the living area and the bathrooms. I also had the house painted. Before I started renovating, the walls in the kitchen were painted yellow and every bedroom had different coloured walls. The kitchen floor was linoleum with a very bright pattern. So, I had that ripped out and replaced it with board floors.
Is this house going to be your home or is it an investment property?
Be careful how much you put into any home, whether it is your own or an investment property. If it is your home and you intend on staying there for decades, then the pot of funds you spend on the property can be a little larger than average. If it is an investment property, be very mindful of how much you spend and where in the house those funds are directed. It is also important to think about the area where the house is situated. What are the re-sale prices in the neighbourhood? If you put more into a house than the median sales values are, you will have trouble selling the property. It is probably a good rule of thumb not to renovate a fixer-upper above 10-12% of the median sales price in your area. However, if you are patient, some renovations will prove beneficial when it comes time to sell. Kitchens and bathrooms should always be the first areas you renovate as they are the first areas a prospective buyer looks at.
Financing your home renovations
The best home improvement loans (U.S.)
Best overall: LightStream Personal Loans
Best for borrowing smaller amounts: PenFed Personal Loans
Best for lower credit scores: Upstart Personal Loans
Best for long repayment terms: SoFi Personal Loans
Best for fast funding: Discover Personal Loans
Enjoy the home improvement journey. Expect hiccups and take them in your stride. It will all be worth it in the end.
Cheers,
Jacquie
https://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.png00Mad Hedge Fund Traderhttps://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.pngMad Hedge Fund Trader2023-08-16 19:00:422023-08-16 19:44:47August 16, 2023
Cord-cutting is going into overdrive as linear TV viewership has just fallen below 50% nationally in July for the first time.
Big changes are about to happen.
This has major ramifications for not only the tech sector but for the broader economy, society, and geopolitics.
We are here to talk about the tech and the sinking of linear TV does mean relative gains for online streamers.
Broadcast and cable each hit a new low of 20% and 29.6% of total TV usage, respectively, to combine for a linear television total of 49.6%.
Has the quality of linear TV channels soured in quality or what is the deal?
It could be a functional reason, as Baby Boomers are watching linear tv because they haven’t figured out the streaming thing yet.
The ease of flipping on the tv with a remote cannot be understated.
In the future, the result is that linear tv penetration will be down to 20% level in around 20 years.
The players that will begin advancing further center stage into the national consciousness are YouTube (GOOGL), Netflix (NFLX), and Amazon Prime Video (AMZN).
They saw month-over-month viewership increases of 5.6%, 4.2%, and 5%, respectively, in July.
Don’t expect a rebound, because linear tv is bleeding viewers reflecting how bad TV channels have become.
Ad revenue across our media network coverage fell 13% on average in Q2, down from -8% in 1Q, which included the Super Bowl.
That being said, certain streamers haven’t exactly cracked the code either, as Peacock, Disney+, Hulu, ESPN+, Paramount+, Max and Discovery+ were down by about 500,000 combined.
However, on the whole, subscriber growth was 8.5% year-over-year with highlights like Netflix adding 5.9 million subscribers in the second quarter.
Comcast's Peacock (CMCSA) was able to grow its subscriber base 84% year-over-year to 24 million, up from the prior 13 million, as the streamer works to catch up to its peers amid a significant lag.
Direct-to-consumer advertising (DTC) grew 27% on average across media companies including Disney (DIS), Comcast, Warner Bros. Discovery (WBD), and Paramount (PARA). That's double from the 13% growth posted in the first quarter.
Comcast is the farthest behind, as only 14% of its estimated revenues are expected to come from DTC in 2024 with the other 85% stemming from its linear networks. Disney is the farthest along, with DTC revenue expected to surpass linear network revenue for the first time in 2024.
As linear tv is headed to the dustbin of history, streaming is also getting more expensive.
Personally, that is what I have seen as many platforms are starting to push the $100 plus per month level.
Many might remember when streaming was $20-$40 per month.
Therefore, I am not surprised to see single-digit growth for streaming as high prices crimps demand.
It’s true that mass media is fracturing into different niches and communities and that isn’t so fantastic for big media corporations as it could mean higher costs and a smaller total addressable audience.
I still do believe there is growth in streaming but not at the elevated levels like the 20% or 30% range.
Customer acquisition will also become more difficult and expensive as people really need to be convinced to move platforms or online channels.
The golden age of streaming growth is over and now each inch will be fought tooth and nail by more competition.
In the short term, I believe a dip in CMCSA should be bought, as they are still driving users to the Peacock platform. NFLX is still worth a trade on the dip as well, but I would avoid DIS until they structurally upgrade the company.
https://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.png00Mad Hedge Fund Traderhttps://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.pngMad Hedge Fund Trader2023-08-16 16:02:232023-08-27 19:39:58Cord-Cutting is Taking Over
“Success in creating AI would be the biggest event in human history. Unfortunately, it might also be the last, unless we learn how to avoid the risks.” – Said English theoretical physicist Stephen Hawking
https://www.madhedgefundtrader.com/wp-content/uploads/2022/12/elon-musk-e1696019090338.png372380Mad Hedge Fund Traderhttps://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.pngMad Hedge Fund Trader2023-08-16 16:00:152023-08-16 18:06:37Quote of the Day - August 16, 2023
Navigating the labyrinth of online dating often feels like trekking through a minefield of ghosting, harassment, and conversations that fizzle out before they even ignite. But what if artificial intelligence could sweep away those human foibles? That's precisely what a burgeoning batch of startups are pledging.
Welcome to the era of AI-enhanced dating apps, where the monotony of small talk and the daunting task of picking a suitable match can be outsourced to a clever algorithm. Some apps even let you go on a “date” with the AI itself! While traditional swipe-based platforms like Hinge, Tinder, and Bumble have been employing algorithms for a while, these new players on the dating scene are attempting to up the ante with a touch of robotic charm.
This AI romance is still in its courtship phase, though. Compared to the current dating giants, the technology seems a tad more eccentric, promising much but still needing a few more dance lessons before it can truly woo.
With the global dating app market dancing to the tune of $4.94 billion, the stakes are high. So, let’s check out these AI-driven Cupids in the market today.
Everyone attempting to succeed in finding a match knows that mastering small talk in the dating world can feel like a Herculean task. This is where TeaserAI enters.
Unveiled this June, Teaser AI is a technological Cupid, promising a landscape with "less ghosting, more matches," where digital silence is replaced with engaging chit-chat – courtesy of a bot, of course. The platform promises that no one faces the cold shoulder of indifference.
Instead, they're greeted by a chatterbox bot, eager to reply. The twist? The app's users tutor these automated companions to mirror their speech quirks, allowing them to serve as "teasers" with potential partners or their digital counterparts. If the conversation strikes the right chord, the human creator is summoned to the stage to possibly set a real date.
This clever bypassing of small talk aims to pave the way for profound dialogues at a record pace. Efficient? Certainly. Flawless? Not quite.
A dive into Teaser's chatbot shows a rather imaginative interpretation of basic facts. Still, the fantastical deviations of the platform are generally shrugged off. Ultimately, the chatbots, once trained, become "pretty close to something that sounds like you."
At this point, the system is painted as a charming entity, full of quirks and personality, and transparent in distinguishing AI-driven conversation from human interaction. As for Teaser AI's access to your love life?
You can play the field with five daily curated matches at no cost or upgrade to premium at $39.99 a month for more connections and insights into the occasional rejection. But keep in mind, this digital matchmaker is still in its beta phase, polishing its arrows and refining its aim.
Venturing beyond the realm of Teaser AI, there’s Iris Dating, a platform that has embarked on a futuristic romance quest where love is determined by the keen eye of artificial intelligence.
Its creators explained that the AI within the app calculates attraction by examining facial features, right down to the precise distance between the eyes. Shift those eyes a millimeter, and "the magic is gone," capturing the fine line between allure and indifference. And it seems the magic has indeed sparked for some.
With over 1 million users, the app has danced its way into success stories, including a Florida couple now happily married and expecting a tiny new addition to their love story.
However, it's not all fairytales and wedding bells. Despite their best attempts to train the AI, some matches fell flat, missing that spark of attraction. The company’s response? Others may find you attractive, even if the AI failed to ignite a connection.
But fret not, lovelorn users, for an update in September promises to tackle this hiccup in modern-day matchmaking.
Iris Dating offers its love-seeking algorithms for free, or for the serious romantics, a $5.99-per-month premium subscription grants a peek at all those who have "liked" you. After all, in the digital age, love might just be a swipe, a click, and an algorithm away.
As love's mysteries continue to evolve, so does the technology that tries to decipher them. Enter Blush AI, springing from the same minds behind AI chatbot powerhouse Replika.
Envision it as an "AI-fueled dating training ground," a place to kindle not just imaginary affections but a more profound sense of self-assurance. The creative force behind this innovation sees it as a tool to foster emotional ties, a virtual wingman to bolster the confidence of those navigating love's mysterious waters.
In the grand scheme of digital flirtation, Blush still seems to be finding its feet, fumbling like a shy suitor on a first date. Want to give it a whirl? Chatting's on the house with a few select matches, or plunge into unlimited character encounters and virtual role-play rendezvous for $14.99 monthly. A premium subscription might just be your ticket to mastering the art of digital allure.
But what happens when love's journey leads us to the rocky shores of relationship despair?
Have no fear, for Breakup Buddy might be the lifeline you've been looking for. Born from the ashes of its developer's own love life, this app isn't just a cold, calculating algorithm—it's an empathetic friend ready to lend an ear.
Harnessing the power of advanced AI, Breakup Buddy has been finely crafted into more than just a chatbot; it's a self-help guru, a digital companion that guides the wounded heart, steering its users away from the dark abyss of unhealthy thoughts.
Some have even heralded this virtual friend as more helpful than their own therapist, proclaiming on social media, "Breakup Buddy is better than my therapist."
In a world where AI dating apps often prey on loneliness, Breakup Buddy takes a noble stand. It's not just there to find you another date; it's there 24/7 to remind you of your own worth, helping you to understand what you truly need from a future partner. And the best part? This supportive friend comes at a friendly price: $18 a month, or a discounted $12 a month if you commit to healing your heart for six months.
Clearly, the digital world is beguiling, as AI can craft responses mirroring human sentiment, but don't be fooled, there's no heart or soul behind the machine. After all, such artificial interaction can foster a mesmerizing relationship with bots that's as elusive as it is potentially injurious.
If the populace begins to lean on an app like a crutch, it might wave a triumphant flag for corporations, but at what cost? It's an uncanny drift that "loosens the ties between people and our innate human connection.”
However, there's more lurking beneath the surface.
The data feeding these AI systems may mirror our own imperfections, reflecting human biases, and thus, chatbots might unwittingly adopt opinions that border on the controversial, alert the guardians of ethics.
And what of the emotional battleground? This is where it’s critical to bear in mind that the rise and shine of dating apps hinge on the fragile emotional states of their users. Should users find themselves ensnared in an emotional web with an AI, an unexpected twist in algorithms could unravel distressing consequences.
It seems the fear that society is spiraling into a pit of loneliness is not unfounded. However, instead of a remedy, these apps loom as a shadow, "probably more of a problem than a solution." Proceed with caution, for the digital embrace may be colder than it appears.
https://www.madhedgefundtrader.com/wp-content/uploads/2023/08/mhai-2023-08-16-c1.png621771Douglas Davenporthttps://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.pngDouglas Davenport2023-08-16 15:02:352023-08-16 15:02:35FINDING 'THE ONE' IN A WORLD OF ONES AND ZEROS
You really are the brightest most interesting and most intelligent man I and most certainly many have ever had the good fortune to be connected with!!
We’re so glad you made it home safely! Thank you for your lifetime of service to humanity and for sharing your knowledge and experiences!
I look forward to our postponed lunch together as your Concierge Client. There are a couple of fantastic Sushi places here in Burlingame! Can we calendar that?
Best,
Brenda
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Large parts of the UK economy are shutting down today, including the entire rail system, due to extreme heat. The temperature in London today is expected to top a record 107 degrees. Much of Britain’s infrastructure is simply not designed to operate at these temperatures.
France is worse, with temperatures there reaching 113 degrees. It will not be the last time that temps get this high. As for Southern Italy, it has become uninhabitable by humans at 116 degrees.
That brings the prospect that weather forecasts may become a much more important aspect of stock market predictions than they have in the past. Just like we have to now include new covid cases and deaths as part of our daily calculation, so might the high temperature of this day.
The temperature has in effect become a new economic indicator.
As for me, I am high in the Alps at 7,000 feet where it is a much more comfortable 80 degrees. The rivers are roaring below me with record glacier melts, tar on the roads is melting, and it is too hot to hike. With ice disappearing, there is talk of the Matterhorn breaking apart.
But at least I can catch up on my paperwork. The trouble is, so is everyone else and my Internet speed has slowed from 45 megabytes per second to an unusable 10.
Below is an email I received from British Rail which I rode only last week.
Dear Customer,
You may be aware that Network Rail has urged people across the country to only travel if absolutely necessary on Monday 18 and Tuesday 19 July. This comes as a result of the extreme heat forecast for these two days.
On Monday and Tuesday, temperatures are expected to reach up to 42°C in London and the surrounding area, and the mid-30s in the western parts of our network. As rail temperatures can be up to 20°C higher than the air around them, there is a risk of them buckling in the extreme heat.
As a result, Network Rail will introduce speed restrictions across the network to minimize the force on the tracks and reduce the chance of buckling. These speed restrictions will, in turn, make journeys longer and we will introduce a reduced service on Monday and Tuesday in a bid to give our customers certainty on what will run.
The speed restrictions will particularly affect our mainline services, with long-distance services to Exeter, Salisbury, Bournemouth, Weymouth, Southampton, and Portsmouth most likely to be impacted.
Service changes are likely to appear in journey planners at short notice, so anyone who chooses to travel despite the warnings on Monday or Tuesday is urged to check their journey before setting off and to expect last-minute delays and cancellations.
If you have no choice but to travel, you are urged to carry water with you, cover up, and wear sunscreen when traveling. Find out more about traveling in hot weather here.
If you choose to delay your travel, please note that the original ticket restrictions will still apply. If you are using an Advance Purchase ticket, please travel as close to the original departure time as possible or make use of Book With Confidence.
Thank you for your patience and understanding.
Yours sincerely,
South Western Railway
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Engaging in the pursuit of income through investing might not be the most riveting way to build wealth. Still, the story can unfold with remarkable profit when dividends remain consistent and occasionally serve as a side of growth.
Take a look at the captivating tale of Merck (MRK) shareholders. Picture this: a $5,000 investment made just five years ago that has now blossomed into $9,700 with dividends reinvested. An investment that beats the S&P 500 index's transformation of the same amount into $8,600 during that same stretch. Intrigued? You should be.
Now, let's dive deeper into this pharmaceutical marvel, a proud member of the Dow Jones Industrial Average.
Few players in the pharmaceutical landscape embrace innovation quite like Merck, an arena where it generously dispensed $13.5 billion on research and development in 2022.
That's a whopping 23% of its impressive $59.3 billion in total revenue for that year.
From the game-changing oncology drug Keytruda to the vital human papillomavirus vaccine Gardasil, Merck's pharmaceutical arsenal boasts seven products, each teetering on the brink of exceeding $1 billion in sales by 2023.
Emerging from its New Jersey hub, Merck's total sales displayed a modest 3% growth year-over-year, totaling $15 billion in Q2.
But factor in the robust U.S. dollar's foreign exchange influence, and you'll discover a currency-neutral surge of 7% for that quarter. A deep dive into these numbers would reveal an increase in sales in five out of seven of Merck's blockbuster products.
The spectrum of growth ranged from a modest 1% for its ProQuad/M-M-R II/Varivax vaccine franchise to a meteoric 53% for Gardasil.
Even the 30% and 23% YoY sales dips in diabetes medicines Januvia and Janumet couldn’t dim the sparkle, as generic competition in Europe and U.S. pricing challenges were handily offset.
The plot thickens with Merck's Q2 non-GAAP net loss per share of $2.06. Unravel this figure, and you’ll find that, excluding the $4.02 per share acquisition charge for Prometheus Biosciences, adjusted diluted EPS actually rose 4.8% YoY to $1.96.
Notably, the acquisition of Prometheus, a spotlight on immune-mediated disease treatments, fortifies Merck's immunology pipeline, adding the promising PRA-023 drug candidate for ulcerative colitis and Crohn's disease.
Merck's R&D treasure trove is far from empty.
With over 100 projects in phase 2 or phase 3 clinical trials, gems like the pulmonary arterial hypertension drug candidate sotatercept stand out, projected to reach annual peak sales of $3 billion to $4 billion.
Moreover, Merck's adjusted diluted EPS is projected to rise 9.4% annually for the next half-decade, outpacing the industry's 8.5% consensus.
Merck's 2.8% yield isn't just numbers on a page; it's a tantalizing promise, especially when juxtaposed against the S&P 500 index's 1.5% yield. And the intrigue deepens when you learn that Merck's quarterly dividend per share soared 52% higher in a mere five-year span.
Expect the threads of mid- to high-single-digit annual dividend growth to weave into the future, enabled by a strategic dividend payout ratio of just 41% for 2023, excluding the Prometheus acquisition charge. After all, the company has shown excellent strategies in terms of capitalization on growth opportunities and further fortification of the balance sheet.
With shares surging 21% higher in the past 12 months, Merck's momentum isn't just business—it's also in the stock. And yet, there's still more to be uncovered for income investors.
Consider Merck's forward P/E ratio of 12.4, a figure that ducks below the drug manufacturer industry average of 13.3. These numbers sketch a compelling picture where above-average growth potential meets below-average valuation. Analysts pencil in an average 12-month share price target of $125—a striking 19% upside from the current $105 share price.
In the grand tapestry of investment opportunities, Merck's stock elegantly stitches together an engaging and profitable narrative, making it an alluring buy for income investors at this juncture. It's not just a chapter in the book of investment—it's a whole saga waiting to be read.
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