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All Forum Posts by: Sunny Burns

Sunny Burns has started 50 posts and replied 218 times.

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Eric James:

@JDMartin

Regarding health insurance: Obamacare (healthcare.gov). Plans as low as $0/month.


I have the same view regarding work. Except my view is that a W2 job is low return compared to what can be done working independently to build wealth.


Agreed so much better value I can provide to the world than what I was providing through my W2.

I mean I already coach soccer, basketball, and teach Personal Finance and STEM at my kids homeschool Co-Op. Now I'm thinking to start and Ulimate Frisbee League for Kids in my County.

I also want to become more of a regular speaker about FIRE and Strong Families, hopefully travel around the world with my family during the process.

I feel my W2 more than most had certain elements of Ikigai, but definitely lacked in a lot of regards. Door is now wide open to fulfill my true life purpose.

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386

@Jay Hinrichs and @Steve K. I think there is a disconnect - you guys are definetly upper-middle-class mindset folks, the average median US Houshold income is $80k… and I don’t think you guys understand how truly cheap I am…

I’ve never in my life paid for a haircut, alcohol or cup of coffee. 

For 10 years we ate on a kitchen table our neighbor threw out. Our current table was off marketplace, 95% of what we own we purchased used.

Every single one of my tenants drive a nicer car than me. 2009 Honda Fit Base Model.

Wasn’t so much a cheapness thing as much as training for my Ironman, but for the last 3 years I commuted to work exclusively by bicycle. Saved a lot of Gas money…

I also own 26 bicycles… we do a lot of biking as a family, so have road bikes, touring bikes and mountain bikes for us and the kids. We also have 9 sets of skis, 6 kayaks, 2 iSUPs, a Sunfish sailboat, tons of camping gear. Almost all of it used  

Plan this year is to do a 360mile bike tour along the Erie Canal from buffalo to Albany NY this Summer, already got a 10-day booking of our primary residence on airbnb while we are away for that trip, the $2000 payout will pay for that trip.

Anyway we are really frugal people, but we do it awesomely. Pretty sure my eldest has already been to 20 countries, we spent a year in Japan last year.

Anyway just wanted to keep this online battle of what’s more important: money or time towards your kids, going. 



Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Eric James:

Somewhat similar story as myself. Except I don't want to live off my children's inheritance. Looking to double my portfolio within the next couple years.

We have 5 buildings (each 4 family is 2 duplexes on one lot) altogether, so hoping to give one building to each child. I personally feel being with my family is the best gift I can ever give them. 

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Stephanie Domurat:

How do you rent out your properties…STR? LT? Or mix?

8 are LTRs. And 3 are MTRs advertised on Furnished Finder. 

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Dominic Joseph Jean:

Hello, 

Congratulations on achieving financial independence that's amazing! 
I have a question, how do those 3 properties generate $120,000 per year? 

Rent - Expenses = $120k. First post picture explains it. 

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Steve K.:
Quote from @Sunny Burns:
Quote from @Steve K.:
Quote from @Sunny Burns:
Quote from @Steve K.:

 Congrats on being able to look on the bright side because most people would be panicking in your situation (losing their job with 5 young kids and only 3 properties/ not much income). 

I was in your position at around your age but with only one kid. We travelled for around 9 months doing the van life thing then I got bored and starting working again simply in order to have more of a sense of purpose. I also realized that life was a lot more expensive than I had budgeted for, and some big capex issues came up with our properties that would have been too expensive to deal with remotely, and traveling with even just one kid dirt-bag style was not nearly as much fun as it was when I had done it for a few years after college before kids. 

 A wise relative told me I should have at least $10M in the bank if I really wanted to fully retire that early (with one kid). I laughed at the time because that sounds like a lot of money to a young person who is frugal. But he was serious, and he was right. 

 Are you accounting for capex in your calculations? I see maintenance but no capex. Also don’t see any vacancy/ loss. These numbers look very optimistic honestly. Even if everything goes well, some years you will still be negative due to capex issues or vacancy/ loss issues that always seem to strike all at once. Budget accordingly! Money will not always flow out of these properties, sometimes it will have to flow in and you will need to draw on your cash reserves. 

Also not sure how you’ll be able to live off of $120k/ yr. with a family of 7, especially while traveling. We are a family of 5, we take a few big trips a year but definitely not trying to travel full time, and our annual budget is A LOT more. Not just a little bit. A LOT.

Kids get more and more expensive as they get older, so do properties, and people tend to enjoy a higher-end lifestyle as they get older as well. You may not want to live as frugally as you are now forever. According to my math, you need to be budgeting around $2M bare minimum to get these kids to 18, then 5 college tuitions on top of that. That’s not including your own living expenses, or saving for retirement. 

Honestly I wouldn’t quit working in your position unless you have about $10M bare minimum in the bank in a high-interest savings account or invested very conservatively in blue chip stocks/ bonds. $30M would be much more comfortable! 

So we've done basically full renovations on each of the units over the last 10 years. Thats why my maintenance which includes capex is a little on the lower side. But I figure $280k over the next 10 years sounds reasonable.

I am not assuming my kids go to college, if they want to go, they can... but I am not doing 529's for them. They each have Roth-IRAs.

As we get older rents will increase, mortgages will start to go away one by one, and we will have access to better cash-flows.

No need to save for retirement, as we essentially are retired at this point, and living off the rental income without having to touch the retirement accounts, as was the point of this post... and we maxed out IRAs and 401k early on, so those have enough basis in them that they don't really need any future contributions to balloon into awesome assets by traditional retirement age.

I don't necessarily want to Die with Zero... but to keep the Golden Handcuffs of my W2 on till I reach $10M sounds like a very unnecessary waste of my life based on fear.

I appreciate your point of view, and I know there are risks involved, just yesterday I met with a roofer to put a new roof on one of my units, but I've checked my historic repair costs, future potential capex projects, and done my best due diligence to move forward towards a life of freedom on my terms.

Here is a closer look at our personal finances if anyone is curious, also we have access to $300k in HELOCs that are unused:

$285 per year for kids activities for 5 kids?

That’s really messed up.  Where is food and clothing? Where are birthday presents and birthday parties and Christmas and family vacations? This budget is not even close to being realistic. Not even in the ballpark for raising 5 kids. Dude you are nowhere near being ready to retire. Not even close!

Sure you can afford to take a little time off but retiring means never needing to work again by having your expenses covered for the rest of your life and ideally having some left over to leave to your heirs. You are one capex event like a sewer line replacement, or one bad eviction with vacancy loss and property damage or one medical event in your family away from financial ruin. Am I the only one on here who is going to call this out for what it is? This is total BS. Retiring with 5 kids and only 3 properties that will be lucky to break even over time is not “financial freedom” it’s financial recklessness and borderline child neglect. Sorry, the math just isn’t mathing for you to retire anytime soon. Like not at all. 

Steve K why are you so quick to make assumptions and be dismissive? What I've shared is such a small fragment of who we are as a family.

So Kids expenses we have certain weekly, monthly and annual expenses... total is $2,277 for the year, you have to add up the different columns.

That red upper-right box is just our Bills & recurring expenses, separate from our budget...

Our Budget is down below in the bottom right red box.

 Sorry for sounding harsh. I bet we would get along well in person, we actually have a lot in common. I took two long breaks from the drudgery of the daily grind in my life: the first was when I lived in a school bus when I was 23-25. It ran off of used vegetable oil that I got for free from restaurants. I lived within a budget of ~$2,500/yr (no health insurance, no alcohol or eating out, rock climbing sponsorships for clothing and gear, dumpster-diving for food and using recycled vegetable oil for fuel and being a total dirtbag and all of that fun stuff). Frankly I was lucky I didn't get hurt or anything and was able to come back from those "wilderness years" and end up being successful. 

The second time was when I was your age and had one kid and about 20 rental units or so. We were set up just like you but with one kid and many more properties. I got started by house-hacking like you, expanded into value-add multifamily, did most of the work myself and boot-strapped my way up like you. 

So from having a similar background, I just know you are not budgeting enough for these kids and are not even close to being ready to retire on these 3 properties alone. The properties will possibly break even some years but other years you will have to replace big expensive things like roofs, siding, windows, sewer lines, furnaces, water heaters, other mechanicals, appliances, carpets, blinds, flooring, driveways, sidewalks, decks, porches, soffits, bed bugs, tree work, etc. etc. etc. I have had a lot of big expenses that I didn't see coming and so will you. Some of the units you just updated will need that same work all over again sooner than you'd like, so you have to budget for that. Cap ex averages $500/mo per unit in my experience (over time obviously not every month but when I break it down to a monthly budget this is what capex comes to). I don't see where you have accounted for that. There will other black swan events like a tenant issues, vacancy/loss etc, and things like that which can be expensive and I don't see where you have budgeted for that. I think anyone who has owned rentals will look at your numbers and agree they are optimistic. This is my experience, being 10 years past where you are now so I hope you take it as helpful advice from a 10 year older version of yourself, and not just me being a Downer. 

Sorry again for the tough love, it's just not wise to think you can retire with 5 kids with no income and only 3 properties that may be cash flow negative certain years and other years will spin off some positive cash flow but nowhere near enough to live on with a family. You can take some time off but you are nowhere near ready to retire permanently and "retiring" now will just set you back IMHO. You need to add some zeros at the end of your budget for example you should be budgeting at least $20k per year per child. I would keep working until you have enough money in the bank to have longterm financial security for your family. Take some time off though! You can afford that and you've earned it. 

Lol I'm sure we would get a long in person too, anyone whose lived in a schoolbus for a few years and lived a dirtbag lifestyle sounds awesome to me.

Anyway I know what your saying, I would say in the last 10 years we've been way over even that $500/month per unit capex figure... I mean last year was crazy with two complete gut jobs and a basement renovation, we spent $120k just on that duplex alone. But that was the last of the portfolio that wasn't where we wanted it to be.

Anyway I am 34... if I am wrong, worse comes to worse, I can tap into the HELOC and I get another job... but there are also other pursuits I am actively growing that are much more aligned with my purpose and hopefully will have some financial benefit to...

@Kate Sanchez not planning to do any more house hacks or active investments... costs are just insane by us... as mentioned before I did just list my Primary on Airbnb when we vacation, and already got a $2000 10-day booking last night for when we do a 360-mile bike touring trip with the fam along the erie canal... I am also interested in investing in some syndications passively once the cash nestegg begins to grow a little more... but I am actively in the process of growing my YouTube, Podcast, Blog, and want to Start more of a Public Speaking Role (Hoping we can travel as a family to various gigs around the world). I also got a patent last year on a product that I want to kickstart, and the dream is to get on sharktank with.

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Steve K.:
Quote from @Sunny Burns:
Quote from @Steve K.:

 Congrats on being able to look on the bright side because most people would be panicking in your situation (losing their job with 5 young kids and only 3 properties/ not much income). 

I was in your position at around your age but with only one kid. We travelled for around 9 months doing the van life thing then I got bored and starting working again simply in order to have more of a sense of purpose. I also realized that life was a lot more expensive than I had budgeted for, and some big capex issues came up with our properties that would have been too expensive to deal with remotely, and traveling with even just one kid dirt-bag style was not nearly as much fun as it was when I had done it for a few years after college before kids. 

 A wise relative told me I should have at least $10M in the bank if I really wanted to fully retire that early (with one kid). I laughed at the time because that sounds like a lot of money to a young person who is frugal. But he was serious, and he was right. 

 Are you accounting for capex in your calculations? I see maintenance but no capex. Also don’t see any vacancy/ loss. These numbers look very optimistic honestly. Even if everything goes well, some years you will still be negative due to capex issues or vacancy/ loss issues that always seem to strike all at once. Budget accordingly! Money will not always flow out of these properties, sometimes it will have to flow in and you will need to draw on your cash reserves. 

Also not sure how you’ll be able to live off of $120k/ yr. with a family of 7, especially while traveling. We are a family of 5, we take a few big trips a year but definitely not trying to travel full time, and our annual budget is A LOT more. Not just a little bit. A LOT.

Kids get more and more expensive as they get older, so do properties, and people tend to enjoy a higher-end lifestyle as they get older as well. You may not want to live as frugally as you are now forever. According to my math, you need to be budgeting around $2M bare minimum to get these kids to 18, then 5 college tuitions on top of that. That’s not including your own living expenses, or saving for retirement. 

Honestly I wouldn’t quit working in your position unless you have about $10M bare minimum in the bank in a high-interest savings account or invested very conservatively in blue chip stocks/ bonds. $30M would be much more comfortable! 

So we've done basically full renovations on each of the units over the last 10 years. Thats why my maintenance which includes capex is a little on the lower side. But I figure $280k over the next 10 years sounds reasonable.

I am not assuming my kids go to college, if they want to go, they can... but I am not doing 529's for them. They each have Roth-IRAs.

As we get older rents will increase, mortgages will start to go away one by one, and we will have access to better cash-flows.

No need to save for retirement, as we essentially are retired at this point, and living off the rental income without having to touch the retirement accounts, as was the point of this post... and we maxed out IRAs and 401k early on, so those have enough basis in them that they don't really need any future contributions to balloon into awesome assets by traditional retirement age.

I don't necessarily want to Die with Zero... but to keep the Golden Handcuffs of my W2 on till I reach $10M sounds like a very unnecessary waste of my life based on fear.

I appreciate your point of view, and I know there are risks involved, just yesterday I met with a roofer to put a new roof on one of my units, but I've checked my historic repair costs, future potential capex projects, and done my best due diligence to move forward towards a life of freedom on my terms.

Here is a closer look at our personal finances if anyone is curious, also we have access to $300k in HELOCs that are unused:

$285 per year for kids activities for 5 kids?

That’s really messed up.  Where is food and clothing? Where are birthday presents and birthday parties and Christmas and family vacations? This budget is not even close to being realistic. Not even in the ballpark for raising 5 kids. Dude you are nowhere near being ready to retire. Not even close!

Sure you can afford to take a little time off but retiring means never needing to work again by having your expenses covered for the rest of your life and ideally having some left over to leave to your heirs. You are one capex event like a sewer line replacement, or one bad eviction with vacancy loss and property damage or one medical event in your family away from financial ruin. Am I the only one on here who is going to call this out for what it is? This is total BS. Retiring with 5 kids and only 3 properties that will be lucky to break even over time is not “financial freedom” it’s financial recklessness and borderline child neglect. Sorry, the math just isn’t mathing for you to retire anytime soon. Like not at all. 

Steve K why are you so quick to make assumptions and be dismissive? What I've shared is such a small fragment of who we are as a family.

So Kids expenses we have certain weekly, monthly and annual expenses... total is $2,277 for the year, you have to add up the different columns.

That red upper-right box is just our Bills & recurring expenses, separate from our budget...

Our Budget is down below in the bottom right red box.

To call living off a $120,000 income as financial reckless is shocking to me... I know so many single income families living off a teacher salary of $75,000 a year making a good life for themselves. Some people need private schools, luxury vacations, etc... others just enjoy homeschooling and going on camping trips with their family. One is not better than the other, to each their own.

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Steve K.:

 Congrats on being able to look on the bright side because most people would be panicking in your situation (losing their job with 5 young kids and only 3 properties/ not much income). 

I was in your position at around your age but with only one kid. We travelled for around 9 months doing the van life thing then I got bored and starting working again simply in order to have more of a sense of purpose. I also realized that life was a lot more expensive than I had budgeted for, and some big capex issues came up with our properties that would have been too expensive to deal with remotely, and traveling with even just one kid dirt-bag style was not nearly as much fun as it was when I had done it for a few years after college before kids. 

 A wise relative told me I should have at least $10M in the bank if I really wanted to fully retire that early (with one kid). I laughed at the time because that sounds like a lot of money to a young person who is frugal. But he was serious, and he was right. 

 Are you accounting for capex in your calculations? I see maintenance but no capex. Also don’t see any vacancy/ loss. These numbers look very optimistic honestly. Even if everything goes well, some years you will still be negative due to capex issues or vacancy/ loss issues that always seem to strike all at once. Budget accordingly! Money will not always flow out of these properties, sometimes it will have to flow in and you will need to draw on your cash reserves. 

Also not sure how you’ll be able to live off of $120k/ yr. with a family of 7, especially while traveling. We are a family of 5, we take a few big trips a year but definitely not trying to travel full time, and our annual budget is A LOT more. Not just a little bit. A LOT.

Kids get more and more expensive as they get older, so do properties, and people tend to enjoy a higher-end lifestyle as they get older as well. You may not want to live as frugally as you are now forever. According to my math, you need to be budgeting around $2M bare minimum to get these kids to 18, then 5 college tuitions on top of that. That’s not including your own living expenses, or saving for retirement. 

Honestly I wouldn’t quit working in your position unless you have about $10M bare minimum in the bank in a high-interest savings account or invested very conservatively in blue chip stocks/ bonds. $30M would be much more comfortable! 

So we've done basically full renovations on each of the units over the last 10 years. Thats why my maintenance which includes capex is a little on the lower side. But I figure $280k over the next 10 years sounds reasonable.

I am not assuming my kids go to college, if they want to go, they can... but I am not doing 529's for them. They each have Roth-IRAs.

As we get older rents will increase, mortgages will start to go away one by one, and we will have access to better cash-flows.

No need to save for retirement, as we essentially are retired at this point, and living off the rental income without having to touch the retirement accounts, as was the point of this post... and we maxed out IRAs and 401k early on, so those have enough basis in them that they don't really need any future contributions to balloon into awesome assets by traditional retirement age.

I don't necessarily want to Die with Zero... but to keep the Golden Handcuffs of my W2 on till I reach $10M sounds like a very unnecessary waste of my life based on fear.

I appreciate your point of view, and I know there are risks involved, just yesterday I met with a roofer to put a new roof on one of my units, but I've checked my historic repair costs, future potential capex projects, and done my best due diligence to move forward towards a life of freedom on my terms.

Here is a closer look at our personal finances if anyone is curious, also we have access to $300k in HELOCs that are unused:

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Jules Aton:

Congratulations! No to be doom and gloom but as great as this sounds having at least one of you working part-time for extra income, health and retirement benefits would probably go a long way toward sustainability. When you are young you can pivot easily but as you get older with no recent work experience it may be more difficult. 


Insurance from HealthCare.Gov looks to be the same or just 25% more than I am currently paying so not too concerned about healthcare.

Post: Retired at 34 with 5 Kids Thanks to 3 House Hacks—Here’s How I Left My $147K Job

Sunny Burns#4 All Forums ContributorPosted
  • Rental Property Investor
  • Mine Hill, NJ
  • Posts 229
  • Votes 386
Quote from @Leslie Awasom:

Congratulations! This is such an incredible story of achieving financial freedom for your family! Your story is truly inspiring and shows anyone can achieve freedom with determination and smart decisions. 

I love that everyday feels like a breath of fresh air! Do you have any plans to continue to house hack since you are planning to worldschool your children?

So we have a single fam primary home we bought in 2020... its on the lake, has a creek and forests in the back, pool, etc. It was our cheapest Real Estate Purchase, but a great property just 1 hr from NYC.

I just listed it on Airbnb and our plan is to list it for rent whenever we travel to hopefully make money while worldschooling our kids but still have a homebase to return to.