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Atlanta Small Business Profile – Rhonda & Frank Duffy, DUFFY Realty

ByAtlanta Small Business Network -September 11, 2019 On this week’s episode of the Atlanta Small Business Profile, our host Ted Jenkin catches up with Rhonda and Frank Duffy, founders of DUFFY Realty. DUFFY Realty has been for over 17 years, and their success and longevity stems from their ability to continually disrupt the real estate industry. Rhonda says that they approach the industry from a different angle, and look to the values of people that they serve. Frank too realized that there seemed to be a lot of waste and unnecessary costs associated with buying and selling property. According to Frank, the business didn’t require a huge leap of faith, it was very calculated and he was confident they would succeed. Rhonda and Frank decided to adopt a flat-fee pricing structure and a smaller commission when buyers close. This is significantly different than the traditional models that people are familiar with. However, neither Frank nor Rhonda were fearful that their ...

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Single Women Going Broke By The Cocktail

For those that watched the glamorous life of Carrie Bradshaw and her cronies in Sex And The City, did you ever wonder what it really cost to maintain a Manhattan apartment, fabulous clothing, and dining and entertainment throughout the city?   One quoted number by Carrie Bradshaw herself is that she spent well over $40,000 on footwear alone over the course of her lifetime.  Could that be true and why is it that so many women now in their 20’s, 30’s, and 40’s are struggling financially? Recently, Pew Research collected data and published a report that a record amount of adults today in their 20’s and early 30’s are unmarried.  If the trends continue in the current direction, one in four will never ever get married.   The biggest reason given by this age group for not getting married was for a lack of financially being ready.   Women were especially concerned about tying the knot because of financial concerns.   As salaries and ...

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The 20/10/1 Rule When Buying A New Home

You just finished watching the latest installment of House Hunters on HGTV and begin to think to yourself, “Why not me”? Shouldn’t I be able to get that home will the beautiful kitchen, sweet master bedroom, and super-duper outdoor living space?  Before you go ahead with that first home purchase, there are three “Ted” rules you need to consider for your family finances. The 20% rule. I am a big fan of putting down 20% for two reasons  One, If you are renting and you can save a larger amount each month to build up a cash reserve of a 20% down payment, it is a good sign that you are ready to afford the future mortgage payment.  Often, people skip right from renting to owning by putting down a small down payment and then get caught upside down with the extra costs of owning a home (higher electric, gas, landscaping, etc.) Two, in most cases, you will avoid paying ...

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How To Save A Down Payment For Your 1st Home

You just finished watching the latest installment of House Hunters on HGTV and begin to think to yourself, why not me?   Purchasing your first home is not only the “American Dream”, for many young Americans it signifies a real transition into financial adulthood and responsibility, by taking on potentially the largest debt you will ever carry in your entire life.  Unfortunately, many new homebuyers don’t save or strategize effectively when they buy their first home and sometimes make an impulse purchase that costs them dearly in their family finances.  Here are my six tips on how to save effectively for the purchase of a first home. Use The Loan Amortization Tool In Microsoft Excel That’s weird for a first tip Ted. No, not at all.  This FREE tool in your Microsoft excel toolkit will allow you to plug in different loan amounts, interest rates, and loan periods to see your principal and interest statements.   What you want to do with ...

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