All Forum Posts by: Paul Bunton

@Katrina Sokolosky sell the sf. Use the proceeds to buy a 3 family. Stay there for a yr. Save like crazy and move into a sf of ur own keeping the 3 family. 3 family should cover the mortgages for both. 3 family is the best way.

Use peanut butter.

You have to check exterior walls. For openings use Steel wool and metal with concrete if you can. They eat right through spray foam.

Check your neighbors too. Clean up trash.

All good posts. Good luck.

We have a water pump for a pair washing machines and a dehumidifier in the basement. We recently moved so we would normally pay the electrical for those items. I would like to save some money by not adding a meter, etc. I would like to set up a solar power bank so I can run those items off of it. Any advice or ideas? Haven't gotten final figures from our electrician in the cost but I have always been interested in off the grid type products.

Thanks.

@Marshall Henry we have a triplex and use 2 garbage bins and 2 recycling bins. Works out fine. I do agree with some of the other comments about education. Some people just don't know how to break down boxes and other bulky items. I go to the dump sometimes but mainly due to projects.

@Chinda Eleonu check out marcus by goldman sachs. Easy interface with their website. Good rates overall. I wish I knew most of this stuff yrs ago so you are taking the right steps.

@Poet Mior I don't see why not. People allow their lawns to be parking lots around college stadiums and other events.

@Chinda Eleonu we house hacked right into our own house. 3 family pays for both. Save money, got to nerdwallet.com and find a good online bank, they have better rates. Sell stuff, find random jobs. We did rover.com which paid for a trip. It is worth it. B4 buying books, check out the library. Many ways to save money, walk places, coupons, bottles and cans, etc. Hope this helps.

@Jasmine Myrick I'm not a realtor but work for a mortgage company. When dealing with borrowers I use OneNote; good program and easy to use. Take notes. I have to remind my realtor all the time of certain things such as goals, etc.

Just purchased a SFR for our family while using the house hacking method.

We sold our home in Jan 2021 and moved into a 3 family. Renting out the other 2 units. Which covers the mortgage with left over cash.

Our family and friends thought we were crazy but most of them don't get it and we are looking into the future.

We have fixed multiple areas of the house including electrical, plumbing, added washers and dryers, added solar powered security lights, built an office, built a patio which increased the value of the house.

So, now the 3 family pays both mortgages with some extra cash flow.

I wasn't aware how the landlord insurance is about $1k cheaper than HOI which will bring down the mortgage payment but we still plan on overpaying the mortgage a bit.

It has been easy and hard. A lot of late nights cleaning and prepping but we have gotten through it. We know it won't be easy but we are ready for the challenge.

Just wanted to share this I know some of you would be proud and know this is exactly what you did.

Paul

Milford, CT