Last week, the European Union gave Britain a couple more weeks so that the country could avoid withdrawing from the alliance without entering into any agreement. But will London have enough time to break the deadlock and provide a “soft” Brexit? Today,…
When supply balances between OPEC production cuts and growth in the United States, oil prices are determined by the dynamics of global demand. In this regard, the fall of Brent and WTI quotes against the background of the collapse of European business …
Overview: The AUD/USD pair is set above strong support at the level of 0.7046 which coincides with the 23.6% Fibonacci retracement level and 0.7168. This support has been rejected four times confirming the uptrend. Hence, the major support is seen at…
4h On the 4-hour chart, the EUR / USD pair declined to23.6% correctional level of 1.1269. Releasing the pair’s rate on March 25 from this Fibo level will allow traders to expect a reversal in favor of the EU currency and some growth in the direction of…
Overview: The GBP/USD has broken resistance at 1.3221 which acts as support this morning. The pair is moving between the levels of 1.3221 and 1.3382. As the trend is still above the 100 EMA, a bullish outlook remains the same as long as the 100 EMA i…
Wave counting analysis:On March 22, the GBP / USD pair rose by 90 bps. Thus, if the upward trend is completed near the 100.0% Fibonacci level, then the pair has started to build a downward section and has already completed the construction of internal …
4h On the 4-hour chart, the GBP/USD pair had a reversal in favor of the British pound and began the process of growth in the direction of the 100.0% correction level at 1.3300. However, the bearish divergence at the CCI indicator allows traders to expe…
Wave counting analysis:On Friday, March 22, bidding ended for the pair EUR / USD by 70 bp decrease. Thus, the estimated wave b in the composition of the new upward trend can already be completed. The tool made an unsuccessful attempt to break through t…
Rather weak data on activity in the manufacturing and service sectors in Germany, as well as in the eurozone, led to a sharp fall in the euro last Friday. All this once again confirms the fact that the eurozone economy is in a rather weak state, balanc…
The Asian session at the auction on Monday did not bring any surprises, supporting massive sales in stock markets, which began on Friday. Nikkei 225 is losing more than 3%, demand for government bonds is noted, June gold futures are trading above 1320…
The Fed’s decision to halt the rate hike gave a clear boost to the market against the dollar.
However, unexpectedly, the Brexit theme returned to the market – and everything is confusing again.
Prime Minister Theresa May received a delay until April fo…
Last week the EURUSD made an attempt to start a trend against the dollar, but failed once again. The reason is the unexpected return of the Brexit theme to the agenda.There will be a new vote in the British Parliament in agreement with the EU on Monday…
As most any of the more than 12.7 million U.S. boat owners would probably attest, nothing matches the fun, freedom and serenity they feel when out on the water. While it’s true that boats are costly and require a serious time and resource commitment, if you have your heart set on boat ownership you’re in the right place. Here are some great ways to empower you on the path purchasing a boat.
So, assuming that you’ve already landed on the size, make and/or model boat you want, you now have four (or so) ways to go about buying it. Each has its advantages and disadvantages, and it pays to weigh each option carefully. Our mission here is the same as yours: To make sure you get a good value on a quality vessel that you can start enjoying right away.
Financing a Boat
Unless your boat purchase is to be an outright cash transaction, odds are you’ll need some sort of financing. This is where having and maintaining a healthy credit score pays off, because it will help afford you (relatively) cheap access to the capital needed to buy your boat.
Boat financing really doesn’t differ very much from a home mortgage or auto loan in that you’ll kick in a down payment—10%-20% of the purchase price, perhaps—and then make monthly payments to the lender for the rest.
Rates and loan terms vary, of course, and highly depend on factors like your credit score and financial history, income and current assets, and the sale price of the vessel. However, loan terms can last as long as 20 years (for high-priced boats) and interest rates at the time of writing were between 5% and 7%.
Just like with a home or auto loan, you should shop rates and terms across many different lenders and use the internet to your advantage when doing so. Be sure to have your financial house in order when applying for financing, and take steps to improve your credit score in the months prior to ensure you’re a strong candidate for lending.
Heightened interest in boating has given rise and staying power to a couple of alternative boat ownership strategies. For those who want to defray the substantial costs of boat purchase and ownership, these options are worth considering:
- Shared Boat Ownership
- Peer-to-Peer (P2P) Boat Rental
The shared boat ownership model simply entails two or more parties (typically friends or relatives) agreeing to split the costs of buying and running a boat. They then share time equally or as agreed upon between the parties. The advantages are clear: Shared ownership enables you to reduce your overall financial commitment, or perhaps increase your buying power to afford a bigger, better boat than you might on your own.
The down side of shared ownership, of course, is that you don’t fully control the asset. Because disputes can arise and come between friends or family members, it’s important to draw up and enter into a basic contract that governs important items like:
- The division/sharing of use
- How all boat-related costs (docking, fuel, storage, maintenance, insurance, etc.) will be shared
- What happens if one party can no longer afford their share of the vessel
- Settling of disputes
Another way to defray costs and turn your boat into an income-producing asset is by way of peer-to-peer (P2P) boat rental. This concept works a lot like Airbnb, except it’s specific to boats. Willing renters use the Internet to connect with you, the boat owner, or a third party which helps broker the rental transaction (in return for a percentage of the fee).
P2P boat rental is gaining in popularity and can create a ready income stream for some boat owners. However, it’s imperative that you require renters to either buy supplemental insurance coverage (through a third party), or sign an acceptance of liability. That’s because your standard boat policy is virtually certain to deny coverage in the event of an incident for which you were not the boat’s operator.
Buying a Used Boat
Dealers and especially the boat show circuit are excellent sources for buying new or used boats. Particularly if you know what you want to buy, boat shows can provide access to multiple dealers eager to turn over excess inventory. As a result, the boat show environment promotes price competitiveness and gives willing buyers access to multiple onsite lenders as well. For these reasons, you may want to brave the crowds and fast-paced atmosphere.
Now, here’s the most important advice there is if ever you’re considering buying a used boat: Do not make any commitment, financial or otherwise, until you have the vessel surveyed by a licensed marine appraiser. The survey may cost you around $400 for a smaller vessel, and up to around $1500 for a larger one, but the information provided will do much to empower your decision.
Pay particular attention to these two survey components: engine hours and compression-per-cylinder. If a marine survey on a used boat reflects low engine hours and high (and equal) compression-per-cylinder, you’ve probably got a good boat there. If these numbers are suspect, however, it may be an early warning sign about hidden problems and you should walk away or at least use extreme caution.
Lastly, don’t focus so much on the boat that you ignore the trailer. Purchasing a used boats may also mean a purchasing a used trailer which if rusted, rotting or in need of repair can easily break, leaving your new, used boat on the ground before you even get it in the water.
Viable Alternatives to Boat Ownership
In the end, remember that there are many ways to get out on the water, some of which don’t require you to buy a boat at all. Especially if you’re new to boating or lack experience as a boat captain, it’s probably best to test the waters, so to speak, with one of the below alternatives to boat ownership before jumping in and assuming all the costs and responsibility of owning a boat.
Boat Clubs & Time Shares
A boat club membership will afford you access to a fleet of vessels, and because the club handles the storage, cleaning and maintenance for you, you save a lot of money and hassle in the process. The rules and fee structures may vary widely with each club, though, so be sure to do your research and gain an accurate understanding before signing up.
There are also boating time shares, which allow you to buy a block of time in a fleet of company-owned boats. Here again, if you’re new to boating, perhaps try this for a year before deciding whether to buy a boat of your own. Like with any time share purchase, though, don’t be pressured by hard sales tactics. Be sure to ask questions to gain a clear and accurate understanding of the rules and usage structure.
Beyond boat club membership and time shares, there’s still the option of good old-fashioned boat rentals or charters. These allow you a range of options depending on your needs and desires. Taking the time dabble a little bit before making a full-scale leap into boat ownership can help you make an informed decision, and ensure you buy a boat you’ll be happy with for years to come.
Special thanks to insurance and boating industry expert, Jason Peters, for his meaningful contributions to this article.
There are many dangers inherently found when investing or trading in the equity markets. But what increases your risk is not knowing how to identify or avoid the many traps purposely set up to take your money. One such trap is the Bear Trap in Stocks.
Markets move higher because of an imbalance between buying and selling pressure. For example, when there are a lot of people wanting to buy but no sellers to match them at the current price. In this instance, to attract sellers, the buyers will raise their bids, (the price they are willing to pay for the stock). The higher price is likely to attract sellers to meet the demand.
The problem is that when anyone buys a stock, they automatically become selling pressure on that stock. Remember, once you own a stock, you only profit from it once you sell it (unless you earn dividends on the stock). So, if too many people buy the stock, it will diminish the buying pressure and increase the potential selling pressure.
What is a Bear Trap?
In order to create more demand and get the prices of stocks to move higher, institutions need to shake out the amateur/novice traders. They do this by pushing prices lower to make it seem like the stock or the markets are becoming bearish. The fear of losing their small profits, or of losing money in general, will force the novices into selling their stocks. Once a trader has been stopped out or tricked into selling their stock, they will frequently jump back in if they see the prices moving upwards beyond the price that they had originally bought in. This, in turn, creates more demand and drives the prices higher just as the institutions wanted.
When to Expect a Bear Trap
Institutions buy stocks at wholesale prices, usually after they drop. This will cause downtrends to reverse and markets to rise. This is the best time to buy, but many amateur and novice investors and traders wait and buy once they see that prices are already bullish. Worse yet, many people are taught to buy breakouts and chase price as it moves higher. This signals to the institutions that it may be time to set the bear trap on the stock. When you see an increase of volume accompanying a breakout in price, a bear trap is usually not far off.
Bear traps on stocks can also be found on intraday charts. The same setup is usually observed, prices breaking out to fresh highs where institutions will sell or short sell to the novices buying the breakout. This halts the upward movement and scares the novices into panic, causing them to sell their stock or triggering their stops. Once the price drops into demand, the institutions buy to cover their shorts and send prices higher where novices will jump back in for fear of missing out.
How to Trade a Bear Trap
To be profitable in the markets, you want to trade like a professional. Bear traps on stocks are usually set in the same circumstances as those described above. Now that you know what the professionals are looking for to set the bear trap and how they trade them, you could trade and invest right alongside of the smart money.
If you follow OTA’s Core Strategy, you have a set of rules and will trade and invest with the dominant trend and quality demand and supply zones. There are also Bull Traps that can be a danger or an opportunity for traders. To learn more about the Core Strategy and/or other market traps and opportunities, visit your local Online Trading Academy Center today.
If you ask the guy on the street what makes a good real estate investor, he’ll tell you, ‘Someone who has the inside track to good deals.’ There is no magic formula for having the inside track, just two key elements: limited competition and an urgent need by a seller to liquidate the property.
How do you find these opportunities? It comes down to hard work, access to good data, knowing how to negotiate and create a win, win situation, a system to track and analyze properties quickly and a work ethic to stay consistent. As Tom Hanks said in A League of Their Own, ‘It’s supposed to be hard. If it were easy, everyone would do it.’ At OTA Real Estate, our education, tools and coaching could help the investor find these inside track opportunities which we call off market and grey market real estate deals.
What Are Off Market and Grey Market Deals?
Simply stated, off market properties and grey market properties are those that have not been listed by an agent and added to the MLS (Multiple Listing Service). The MLS, according to the National Association of Realtors, is ‘… a tool to help listing brokers find cooperative brokers working with buyers to help sell their clients’ homes. Without… the incentive of the existing MLS, brokers would create their own separate systems…, fragmenting rather than consolidating property information.’
Grey market properties, as defined by OTA Real Estate Wholesale Instructor Joe Short, are, ‘properties that are actively for sale but significantly underexposed to the general buyer’s market place. Typical grey market properties are those sold at most auctions and so-called FSBOs (for sale by the owner without the assistance of a licensed real estate agent). Some real estate professionals, such as Wholesalers, operate in grey markets wherein they find off market properties and market them to a limited, specialized group of (usually) cash buyers.’
Off market properties are defined as properties not marketed to the public. Once a property hits the MLS, by design it is exposed to the greatest number of potential buyers. Getting to the property before the public naturally limits competition, potentially allowing the investor to get a favorable deal.
Here at OTA Real Estate, we teach many grey market and off market real estate strategies including, but not limited to: pre-foreclosure, foreclosure, bankruptcy, divorce, targeted list, tax sales, REOs and probate. Through our education and the powerful patent pending Deal Board, we not only educate our students on how to find these off market real estate deals and grey market properties, we also offer local and national data sources to access them quickly.
Diana D. Hill – Diana@OTARealEstate.com
To open long positions on GBP/USD you need:
Theresa May will hold another vote on the ratification of the Brexit agreement this week in Parliament, and if it is adopted, the UK will leave the EU on May 22. If not, the deadline is April 12th. Volatility…
Over the weekend, the news flow regarding the possible prospects of Brexit went off-scale. The media was full of loud headlines that surprised by its diversity. There is a “conspiracy” of ministers against May and the scandal with a 5 million petition …
To open long positions on EURUSD you need:
On Friday, a series of weak reports on the eurozone economy led to the euro’s decline. At the moment, buyers need to stay above support at 1.1294, and the formation of a false breakdown there will be a signal …
Trend analysis (Fig. 1).On Monday, there is a high probability of continuing the upward movement. The first upper target 1.3031 is the pullback level of 76.4% – 1.3292 (yellow thin line).Fig. 1 (daily schedule).Comprehensive analysis:- indicator analys…
Technical market overview:The GBP/USD pair has bounced from the level of 1.3012 and went straight up towards the level of technical resistance at 1.3207. Despite the bullish efforts, the price is still trading below the orange trendline, so the bears a…
Trend analysis (Fig. 1). For this week, the price will move up with the first target of 1.3406, which is the rollback level of 50.0% (yellow dotted line). Fig. 2 (weekly schedule).Comprehensive analysis: – indicator analysis – up; – Fibonacci levels – …
EURUSD has pulled back below 1.14 and the 1.1350 support level towards 1.13. The pull back was much stronger than initially expected but price has stopped the decline right at the 61.8% Fibonacci retracement.Red line – resistanceGreen line – supportEUR…