Real Estate
What are two things to look for when buying a rental property?
Neighbourhood, Schooling, Crime, Property Taxes, Facilities, Job Availability, Amenities around the city, Average Rent, and Natural Disasters.
Name 3 Crypto Currencies
Bitcoin, Ethereum, Dogecoin
What is a Disadvantage of a Credit Card?
Temptation to overspend
Debt Accumulates
Late + Annual fees
High-interest rates
What is Sales Tax?
Sales tax is a percentage amount added to the cost of goods that is paid by consumers.
What are the two types of Mortgage rates?
Fixed and Variable
Name a benefit of blockchain
No central force, More security from hackers, and Complete History
What is the Lowest Credit Score you can Have?
300
What is a Liability?
Anything that is owed
Name 2 things you should do before investing in a rental house.
Pay off Debt
6 Month Emergency Fund
Saving up to 20% for a down payment
2 Ways to obtain Crypto Currencies
Mining and Investing
What is the Highest Credit Score a Person can get?
850
What is Compound Interest
Compound interest is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan.
What to look for in a tenant? (at least 3 things)
Credit History, Previous Evictions, Criminal Records, Lawsuits, Financial Stability
Name at least one Benefit of Credit Cards
Building your Credit Score
Cashback and Rewards
Increased Purchasing Power
What is Liquidity?
The ability to convert assets into cash
What two sources of monetary value do rental properties offer?
Monthly Rental Income
Appreciation of the Property
Who Invented Ethereum?
Vitalik Buterin
What is Credit Card Churning?
Where you apply for a credit card and meet the minimum requirements to earn large welcome bonuses. Then you later cancel the card before the next annual fee is due.
Fill in the blank
______ = Total assets - Total Liabilities
Owner's Equity