Category Archives: Leaders in Finance

How Fashion and Technology Create the Best Products

 

Chris Burch is an American serial entrepreneur with experience in the fashion industry. Burch earned his Bachelor’s degree in Business from Ithaca College and graduated in 1976. He cofounded Eagle’s Eye apparel with his brother after they invested $2000 into the company. The clothing company grew into a profitable entity, and they sold it to the Swire Group. Burch launched another company known as C. Wonder in 2011. This is a home décor and clothing retailer. The company was also successful and was acquired a few years later by Xcel Brands. Chris Burch is the CEO and founder of Burch Creative Capital which is a private investment company. Burch has worked with several individuals and enterprises to develop their brands. He is famous for working with Ellen DeGeneres to develop her ED brand and Poppin which supplies office materials.

 

Burch owns several real estate properties around the globe. He has developed luxury homes in Florida and New York. He is noted for transforming a tract of land in Argentina into the Faena Hotel + Universe. Burch collaborated with hotelier Alan Faena and Philippe Stark who is an architect to develop the luxury resort. He acquired and revamped Nihiwatu Resort which is located in Indonesia. Nihiwatu has been a relative success. James McBride is the Managing Partner of the Hotel. He was named Independent Hotelier of the World by HOTELS Magazine.

 

Burch made his first investment in a company when he invested in the Internet Capital Group. Some of the companies that Burch has invested in the past include Nanoleaf, Rappi, Zeel, Bomoda, and Split. He was a member of the boards of the Continuum Group, Guggenheim Capital, and the Rothman Institute Orthopedic Foundation. Burch talked about the relationship between technology and fashion in a piece that was featured on Engadget. He starts by looking at how fashion and technology have grown together. Burch gives an example of certain products that have been fashionable in the recent years including the Walkman and the iPod. He says that these products were popular because they were fashionable.

 

Burch then points out the various designers who have integrated fashion into technology to come up with unique products. He gives an example of Anouk Wipprecht who realized that technology was a playground and offered her many possibilities. This is what led her to create a dress that paints itself known as the Pseudomorph and a dress that makes drinks which she calls the DareDroid.

Insurance issues you must consider before renting your House through Airbnb

Airbnb provides a platform that transforms homeowners into amateur hoteliers. By renting out part of their homes, homeowners become minor players in the hospitality industry. Through Airbnb, homeowners are able to generate incomes that helps them pay off their mortgages.

Airbnb has become popular among homeowners. The prospects of making money by temporarily hosting travelers are attractive. However, it is important for homeowners to approach this venture cautiously. This is mainly because the venture is not yet fully covered by home insurers.

With the risk of incurring financial losses as a result of hosing temporary tenants, homeowners must weigh their options wisely. As a homeowner, you must be careful not engage in a venture that has higher running costs than the proceeds from it. Subsequently, it is recommended for homeowners to consult with a wealth management expert before renting out their homes to Airbnb.

In order to reap the benefits of renting out your home, it is important to consider all the issues that may subsequently emerge. Such issues include:

Risks involved
Renting out part of your house may expose you to additional risks on top of those covered by your insurance policy. To begin with, your temporary tenants may damage your house or destroy your neighbors’ properties. Such damages are often not covered by common home insurance policies.

Other than possible destruction of properties, tenants may engage in unlawful activities or refuse to meet their financial obligations. In such cases, your contract may involve several lawsuits that may prove costly.

Insurance Covers
Many of the incidents that result from temporary tenants are not covered by common home insurance policies. Subsequently, you may be required to repair your house in case your tenants damaged it or foot any hospital bills that may result from injuries sustained by your hosts during their stay.

How well are you protected against risks by rental firms such Airbnb?
Companies that enable homeowners to rent out their homes often provide secondary coverage. This coverage has a downside in that it leaves the homeowner’s resources exposed. It only covers the costs above what the homeowner’s resource can cover. This makes it crucial for homeowners to always engage professional insurance or wealth management experts before contracting rental companies.

Richard Dwayne Blair, the founder and owner of Wealth Solutions Inc., is among the most sought after asset management experts in the industry. His career in finance and financial services spans over 22 years. Considering his vast knowledge and experience in insurance and investment management, Blair is best placed to give you all the professional advice you may need when engaging firms such as Airbnb.

Blair is a graduate of University of Houston. He majored in finance and financial management, a field he pursued with passion culminating in the creation of Wealth Solutions Inc. in 1994. He is a certified and registered Estate and Trust Specialist and an advisor on investment among others.

Learn more:

http://www.wealthsolutionsria.com/blog