All Forum Posts by: Suly B.

@Michael Van I love your comment! I have tons of respect for people who live well below their means when it comes to vacations, cars, clothing, living spaces etc.

According to Thomas J. Stanley, author of “The Millionaire Next Door. Over 1 million millionaires live in homes valued under $300,000.

I'm a house hacker and a firm believer that living below your means is a little nugget that helps in a BIG way to reach financial freedom.

@Brandon Turner Anyone else run into this? Whenever I attend meetups I always seem to run into a "Financial Advisor." How can I tell who's legit and who just got hired because they have a pulse?

What companies should we as investors steer clear from? I have some I'm already avoiding but I'd like advice from the pros!

@Brandon Turner 

Anyone else run into this? Whenever I attend meetups I always seem to run into a "Financial Advisor." How can I tell who's legit and who just got hired because they have a pulse? 

What companies should we as investors steer clear from? I have some I'm already avoiding but I'd like advice from the pros!

Way to go!! A great next step would be a cost segregation study. Has your accountant or CPA accelerated the depreciation of what's considered "personal property" from those units (appliances, fixtures, cabinets etc)? You could maximize depreciation this year to put more money in your pocket for future investments or even repairs. 

@Jeff White don't forget to buy tickets and bring me along too! I'd love to go! 

@Greg Miller and @Daniel Hyman

Thanks! It was a lot of work but definitely worth it. Aside from living for free, I benefited from a whole lot of hands on experience that year. All 4 units are now fully rented and we're on our 2nd property. 

@Tyler Bushey

I'm glad it works for you too Anthony. I've had a lot of success doing it that way. More than 1/2 of my tenants are from fb marketplace and so far no issues.

@Anthony Wick

I'm glad it works for you too Anthony. I've had a lot of success doing it that way. More than 1/2 of my tenants are from fb marketplace and so far no issues.

@Account Closed

Upstairs is renting for $1800 (3bd, 2b) and each room in the mother-In-law will be listed in January. We're planning on listing each room for $700 and adjusting the price depending on the interest. Hopefully, by Feb we'll have it rented and we're ok if it falls somewhere between $600-$700.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $630,000
Cash invested: $60,000

Moved out of our 2 bedroom condo to pursue house-hacking in a fourplex with boyfriend
Monthly cashflow: $700.00

Lessons learned? Challenges?

We didn't do a final walk through before closing so after it was all said and done we found out there were tourists living in the garden level unit and they weren't planning on moving out. Thanks to our circle of support and expert landlords we managed to resolve that issue.