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As a senior, you’ve probably bought or sold a house or two in your life, and you’ve certainly lived in a few. The business of “flipping” houses — that is, buying and renovating properties to resell at a profit —is now more lucrative than ever, according to a recent report. If you’re considering a post-retirement foray into the house flipping business, you should know that it’s not always as easy and profitable as it looks on television. While success is far from guaranteed, it is possible to make real profits through reselling homes. Keeping these three tips in mind will help you achieve house-flipping success. This is an example of the insightful senior-focused content you can find on The Livingston County Consortium on Aging blog. 1. Find the Right Property Choosing the right property to flip is key to realizing a return on your efforts. In selecting a house to flip, always consider both the house itself and the neighborhood in which it’s located: Both can have a significant effect on your potential profits. Spend some time researching any potential neighborhood where you might want to invest. Traditional housing market metrics, such as days on market and average sale prices, are important but don’t forget about other statistics, such as crime rates or owner-occupancy figures. Housing prices will likely be lowest in distressed neighborhoods, but selling the home post-renovation will be easier in more high-demand areas. For any house you’re considering, never pay a purchase price that’s higher than 70% of your estimated post-renovation resale price. The final sale price needs to substantially exceed the total of all of your costs, including
2. Finance Expenses Correctly Being a senior often means that you have a bit of an advantage when it comes to financing your house-flipping venture. You’ve likely accrued some savings, home equity, or both over your lifetime. These assets can make it easier for you to qualify for financing options, or may even enable you to self-finance much of your first flip. That said, use extreme caution when tapping your own funds. Never jeopardize your home or your entire life savings on a risky resell. To safeguard yourself and your property, it’s usually best to form a business identity through which to handle your house-flipping finances. A limited liability corporation offers tax benefits and reduced paperwork along with asset protection. Forming an LLC is usually a simple process, depending on your state’s requirements. So how to start an LLC in Michigan? You can save time and avoid pricey legal fees by using an online business formation service. 3. Fulfill Your Obligations One of the top mistakes people make when flipping houses is trying to handle everything themselves. By enlisting a talented team, you greatly improve your odds of success. You’ll likely need to recruit, at a minimum:
For employees, it’s best to set up a regular pay rate and schedule. Good payroll software can help automate this process. For independent contractors, aim to pay them in draws as the work is completed. Never wait until the end of the project to fulfill your obligations. Flipping houses can be a fun and rewarding way for seniors to earn extra income. Keeping these tips in mind will help you maximize your profits. Want to learn more? Read this article too!
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 Yoga yields numerous physical and mental health benefits for people of all ages. It can be particularly great for seniors, as it’s known to reduce back pain, lower blood pressure, and relieve symptoms of anxiety and depression. Also, various poses are known to improve strength, balance, and flexibility in different muscles.
Furthermore, yoga is usually done alongside meditation, which can significantly reduce stress, boost self-awareness, and delay cognitive decline. If you and/or a loved one are looking to enhance your health and overall wellness, it’s hard to beat the combination of yoga and meditation. Here are some helpful tips on how to get started, brought to you by the Livingston County Consortium on Aging. Give Your Gut Some Attention One area that is getting more and more attention in the medical field is gut health. One reason it is such a hot topic for researchers is that gut health is strongly connected to other systems in the body. While diet has a lot to do with nurturing these microscopic organisms living in your digestive tract, sticking to an exercise routine can go a long way in boosting your gut microbiome. Considering all the benefits that come with yoga, combining yoga exercises with improved gut health can take your health and wellness to a new level. And if you make gut health a priority, you will feel the difference in no time! Find Your Style There are so many different kinds of yoga that it can be overwhelming to know where to start. For seniors, there are plenty of styles to choose from, and which you choose depends on what you’re looking to get out of it. For instance, Hatha is one of the most popular branches of yoga, and it emphasizes breathing and relaxation. Most of the postures in Hatha are safe for older adults, and it’s one of the best styles for stress relief. Restorative yoga is another great style for seniors. With slow-paced classes, poses are held for two to five minutes at a time, and the primary goal is to soothe and regenerate you. If you’re looking to add a particular spiritual element to your yoga practice, kundalini may be a good fit. Stay Committed Once you’ve found the yoga style that fits your life and needs, stick to your routine. Know that habits take time to form, and if you miss a session here and there, don’t sweat it. Like any habit, as your yoga regimen becomes ingrained in your life, it will get easier to stick to it. There will be days when you don’t feel like doing it, and if there’s not a health concern or other legitimate reason to miss your session, remind yourself why you practice yoga and the benefits it yields. Furthermore, allow your routine to evolve as you find what works best for you. For instance, if you find that three longer sessions per week work better than five shorter ones, go that route. Remain open to trying different yoga styles, even if you have to make modifications. Another way you can stay committed to yoga is by knowing that you can do it indoors and on your own, even when you don’t feel like going outside or the weather prevents you from doing so. In fact, doing yoga indoors requires only a good yoga mat and some apps or videos that allow you to follow along. While it’s always good to have an instructor when you’re starting out, you can fall back on these sources when getting to a session simply isn’t in the cards. Meditate Regularly Although you will likely get meditation time during your yoga practice, it’s beneficial to fit it into your life in other ways. That way, if you miss a session here and there, or if an injury or illness keeps you off the mat for an extended period of time, you will still be able to reap the mental health benefits of meditation. The best thing about meditating is that you can do it from home. Create a clean and comfortable space so that you can meditate at any time of the day. Breathing exercises, adult coloring books, and guided meditation can all be effective methods. Yoga and meditation can do wonders for your physical and mental health. Remember to look into how you can care for your gut health. Find the best yoga styles for you, and stay committed to your routine. Figure out ways to incorporate meditation in your life outside of yoga. Adding these practices to your routine will yield countless benefits and enhance your overall wellness. The Livingston County Consortium on Aging works with supports agencies, businesses, and individuals who are concerned about the well-being of seniors. Learn more about us and what we do by clicking right here. Photo Credit: Pexels  Photo by Pixabay When it comes to increasing social connections and maintaining a high quality of life as a senior, there’s some technology you should consider embracing. Buying a few tech gadgets can make your life easier, and if you know where to look, these items don’t have to be expensive or use up every last penny in your bank account. These handy devices are easy to use, and they’ll help you maintain your freedom and enjoy life to the fullest.
The Livingston County Consortium on Aging supports agencies, businesses, and individuals as they address the needs of seniors in the area. Become a member today. Where to Find The Right Tech at a Great Price When it comes to finding the right tech, knowing where to look will make all the difference in finding great tech for the right price. It doesn’t have to be expensive, so check eBay for secondhand devices and gadgets in mint condition and save big on the tech you want. To save money at eBay, don’t forget to download the website’s official app to keep track of the items you’re searching for, and get notified when the price drops. You’ll also find daily deals on many items, and get the products you need at a great price. Smartphones Getting a smartphone or a touchscreen tablet will make your life easy, and a wide selection of free apps can remind you to take your pills, take dinner out of the oven, or let you video chat with your loved ones. Make sure you get a phone or tablet with large buttons, as this will make it easy to use. Find a great deal on a used phone and enjoy full connectivity at half the price, or you can get cash back or use coupons to save on a refurbished iPhone or iPad from Apple. You can store important medical information on your phone, call 911 in an emergency, and stay connected with family and friends. You can also download fun games that will promote brain fitness, track your brain health, and store pictures of your favorite moments. Wireless Internet Your smartphone or tablet can do a vast assortment of incredible things, but you’ll need to be connected to the internet to do most of them. If you’re living alone and don’t have wireless internet, find a good internet provider with great senior discounts, get a modem and a router, and enjoy full connectivity without stressing about your data plan. GPS If you want your children or grandchildren to be able to check up on you, turn on the GPS function on your phone or tablet and share your location. They’ll be able to see at a glance if you’re home safe or out and about running errands or grabbing dinner with friends. Do you sometimes get lost when you go for an afternoon walk? You can use the GPS on your phone or get a wearable GPS device so your loved ones will easily find you and guide you back home. Medical Alert System One of the most important devices you can get to stay safe is a medical alert system device. These easy-to-use devices can be worn as a pendant and have large, clear buttons. The device will detect a fall, and if you can’t reach your phone to call for help, the touch of a button will provide a GPS location to loved ones if you experience a fall or injury. Home Safety Devices If you’re a bit forgetful, home safety devices can save your life. Start with a gadget that turns off an unmonitored stove if you’ve forgotten to turn it off. You can also get a smart doorbell system that shows you who’s at the front door before you get up, and there are camera systems that can make your home more secure. There are even many medication dispensing appliances that will help you remember when to take which pills. Make sure you find great deals on all these products and enjoy home safety without overspending. A Word of Caution Technology truly is an amazing thing, and it provides so many incredible benefits. However, in today’s ever-connected age, it’s important to protect yourself, your devices and your personal information. With this in mind, stay alert to common scams, keep anti-virus software up to date and regularly change your passwords. By adhering to these basic cybersecurity safeguards, you can enjoy all your tech has to offer without making yourself vulnerable. Embrace technology, and discover for yourself how devices and gadgets can keep you independent and help you get through the day. You’ll have peace of mind knowing your home is safe, and help is just a button away. Shop for great deals that won’t break the bank, and find the devices and gadgets you’ll love at a great price. Is It Time For Your Family Member To Move Into Assisted Living? Use These Expert Tips To Help Your Aging Loved One (Photo via Pexels)
Although inevitable, one of the most difficult periods in life is seeing an aging loved one’s health decline. Whether sudden or gradual, the emotional pain is still the same. For a variety of reasons (including the difficulty you may be having with accepting the situation), it can be challenging to know if now is the right time for your loved one to move into assisted living. The Livingston County Consortium on Aging shares several indicators that it is definitely time for your loved one to move into assisted care, and how to help them with this life change. Significant health and behavior issues Seniors who are experiencing significant chronic health issues — including heart problems, Alzhemier’s disease, or mobility problems — will eventually reach a point where it is no longer safe to stay at home. Even if this individual lives with a spouse or another family member, there is only so much that can be handled without professional assistance. If your loved one has required multiple emergency trips to the hospital in recent months, if their caregiver is unable to meet their medical needs, or if their condition does not seem to be well-managed, it is important for them to move into an assisted living facility right away so they can receive the proper care. Additionally, if your loved one is beginning to exhibit troubling behaviors such as significant memory loss/confusion about basic details, wandering from home, or neglecting basic health and hygiene needs, now is definitely an appropriate time to have a conversation about assisted care. Behaviors like these can present a major safety issue, which can lead to severe injury or death. Living situation Not all seniors moving into assisted living have severe health issues. For some, there is a need for assisted care due to living alone. If your loved one cannot consistently prepare their own meals, handle household tasks, remember to take their medication, or safely move about the house, assisted living becomes a necessity. After consistently witnessing your family member struggle to meet their basic needs while living alone, you should plan to speak with them about moving into assisted care. While some individuals will insist they can continue living alone, it is important to help them break through their pride and anxiety to keep them safe. How to have a productive conversation Once you’ve determined that your senior loved one needs assisted care, it is important to decide how you will bring up this sensitive topic. Depending on the individual, this conversation may be fairly simple. However, in many cases, emotions will run high. Above everything, approach this conversation with love, kindness, and compassion. No one wants to give up their independence, and while you know this is the right decision, your family member may not be convinced. Have the expectation that your loved one will be feeling a flurry of emotions. Also, do not take hurtful words personally. Remain calm and confident, and enlist the help of other family members when possible. Helping your family member begin the process of moving After your loved one has agreed to move into assisted care, serve as a resource for them. From packing boxes, to organizing a garage sale, to simply being there to listen, do whatever you can to make this transition easier. Additionally, if your family member is concerned about paying for assisted living, suggest using the proceeds from the sale of their home to cover costs. If they would like to use this option, research home prices prior to selling to get an accurate idea of how much they will make from the sale. On top of addressing the needs of your senior loved one, be sure to take care of your own needs through this entire process. Helping a family member in decline is emotionally and physically draining, so it becomes more crucial than ever to eat a healthy diet, exercise, and practice self-care. Livingston County Consortium on Aging is a group dedicated to advocacy, networking, and direct outreach related to the local senior population. Learn more about us and our membership program. |