House Hacking: Lets You Get Your Housing For Free

This Hack lets you get your housing for free by having someone else pay for it, house hacking. investment, property, rental, rent, life, hacks, invest, fixer, upper, income, property http://jessicacoaches.com/2017/05/house-hacking/ ‎
This Hack lets you get your housing for free by having someone else pay for it, house hacking. investment, property, rental, rent, life, hacks, invest, fixer, upper, income, property http://jessicacoaches.com/2017/05/house-hacking/ ‎
This Hack lets you get your housing for free by having someone else pay for it, house hacking. investment, property, rental, rent, life, hacks, invest, fixer, upper, income, property http://jessicacoaches.com/2017/05/house-hacking/ ‎

No, this is not about marrying rich! This is a real solution to make living expenses more manageable, or even make money. And while this is not about getting a sweet sugar mama or daddy to pay your rent, it is having someone else pay for it.

Your renter.

What I’m talking about is commonly referred to as House Hacking. House hacking is when you buy a property with the intention of renting out units or rooms to people to pay for the property. The HGTV show Income Property often makes a reference to this when people are making a rental unit in their basements and such.

 

If you are in need of more immediate housing solutions, I would like to point you to https://portal.hud.gov/hudportal/HUD?src=/topics/rental_assistance

 

I have been house hacking for the last six years. What we do is purchase a home, we have a family, so we aim for multi-unit homes. We keep the property prices low as we don’t have a huge income and have lots of skills by buying fixer uppers, usually living in the unit we are fixing up. Right now we are living in a duplex, in the larger of the two units: a three bedroom two bathroom. The other unit is a two bedroom 1.5 which is completely separate is paying the entire mortgage. Pretty sweet right?

Related: How I never have to pay another penny for my retirement at age 34 on a 30,000 per year salary!

It gets better, once everything is fixed up we find a new property and do it all again, renting out the other property fully.

Examples of house Hacking situations:

–  Buy a 3 unit property, live in 1 and rent the other two out.
–  Get a large single family home with four bedrooms, you live in one bedroom and rent the others out.
–  Purchase a house with a guest house or basement that will function as a rental to help cut costs on your large residence.

Pros:

 

House Hacking allows for low-income investors to squeak into the investment property world. This is because the rental property will qualify for owner occupied loans with down payments of 3.5%-5% as long as it is four units or under.

Related: How to Buy a Property With No or Low Money Down!

It can lower your expenses, allowing you to save more money to invest in yourself. I do love it when other people pay my mortgage!

You are close to your tenants, so they tend to behave better, it is also convenient being your property manager allowing for more profits.

If you buy a fixer, you can live in a unit that needs to be fixed up and slowly do the renovations. No driving to the site. No lapse in rent during a renovation. Improve slowly, or by the room, as you have the money to do it, the only one who has to suffer a construction zone is you.

house hacking construction zone

Cons:

You will be living next to your tenants. For some, this can be awkward.

You may be giving up the privacy that having a whole lot between you and your adjoining neighbor provides.

Have you ever lived in a construction zone? While amazingly rewarding, there is nothing like building something to make you feel accomplished. It is stressful. There is always something to do.  In fact, that half done project might be right in front of you while you are trying to get some relaxation in. It also always tends to take longer than you expect!

 

Advice for first-time house hackers:

If you are going to get a fixer upper, and do the work yourself, try not to be too ambitious, stick to surface problems and properties that do not need to be gutted.

Get rid of your mortgage insurance by forcing appreciation with improvements. You can do this once you feel you have 20% equity. You can either refinance or try to get a reevaluation from your current lender, and they will likely want an appraisal.

Just because you are living in the home does not mean the numbers do not matter! Plan for possibly turning it into an investment property in its entirety. You still want a cash flowing property. When evaluating net income just use a fair market rent for the unit you will be living in.

 

Do you Have any experiences house hacking?  Would you recommend it?  Planning on trying it?

How to get an amazing deal on a car!

How to get an amazing deal on a car truck or vehicle schoolie school bus public auction budget frugal conversion foreclosure cheap find http://jessicacoaches.com/2017/05/how-to-get-an-amazing-deal-on-a-car/

 

How to get an amazing deal on a car truck or vehicle schoolie school bus public auction budget frugal conversion foreclosure cheap find http://jessicacoaches.com/2017/05/how-to-get-an-amazing-deal-on-a-car/

Financing a car is one of the biggest, most common, money mistakes people tend to make.  Not only does it come with a hefty monthly payment on a depreciable asset, where you will pay a ton in interest making that car cost way more then what you ‘paid.’  High priced, new, and/or financed cars need way more insurance on top of that.

 

Want to avoid wasting your money, like a boss, and get a great used car in cash for a deal?

 

I love value, and I love sharing the wealth even more.  Here is my list of how to get a smoking deal on an automobile, some I found on my own while others were followed up with the caveat of don’t tell anyone I don’t want the competition.  Ooops.  Why do they not want the competition? They are making money off of buying and selling cars, trucks, and other things this way.

 

 

General Information for researching a car’s worth before you bid or make an offer, these websites have used car sales as well, but if you’re looking for a deal look elsewhere:

 

Kelley Blue Bookhttps://www.kbb.com/
NADA Guides – http://www.nadaguides.com

 

 

 

Government Surplus.  The government sells a lot of stuff, usually in an auction format, they do so in different places depending on the state and the department selling the item.   There are many people whose sole business it is to swoop up deals and resell things on these sites.  Including many vehicles. Some are government vehicles which have aged out due to various reasons as a standard age or mileage retirement.  Government Vehicles have meticulous upkeep records and have been well maintained; they also tend to be upfront with conditions and known problems.  They also sell confiscations and insurance write-offs.  This is also the best place I have found to look for school buses, public buses, for conversions such as schoolies for you minimalists out there.

 

MuniciBid – https://municibid.com/

 

 

worldschooling

 

Lender Repossessions.  Many times a lender ends up with a vehicle that they do not want, just like home foreclosures and REOs, these exist for automobiles too.  I have found quite a few shady websites in regards to this option, so exercise caution.  I advise you to go directly to a local bank or credit union website or call them to find these deals in your area.

 

 

Local Live Auctions.  Sometimes people or companies do not want to deal with the headache of selling their used automobiles and turn to local automobile auction houses.  These can be a great place to get a steal on a  vehicle.  The ones that I have been to have a preview day where you can poke around all the cars and then a bidding day.  A quick google search in your area should help you locate some of these auction houses.   

 

 

 

Haggle or Scoop up a deal from an individual.  Do your research and watch for a deal to come up from the owner directly.  The pros to these are you can drive the car around and get it checked up by a mechanics shop before you make the leap if you want.  The con is not every individual is honest, try to play it by the facts.

 

Facebook Groups – Look for local swip swap, local swap meets, local marketplace.

 

How have your experiences been with using any of these methods? Do you have any I missed? Have you celebrated anyone’s smart choice lately?

 

How to get a high paying job with no debt involved!

How to Get a High Paying Job No Debt Involved career, tuition, cash. scholarship, cheap, student, loans, university, money, budget http://jessicacoaches.com/2017/04/how-to-get-a-high-paying-job-with-no-debt-involved
How to Get a High Paying Job No Debt Involved career, tuition, cash. scholarship, cheap, student, loans, university, money, budget

I like options! When I graduated from High School I had pretty much been told you are going to languish away in a food services job or go to college for a four-year degree. I was also told there were three routes to do this, rich parents, debt, or scholarships. However, it turns out some food services jobs pay more than the job you might get after four years of studying.   There are also so many more options to get a good career and so many more routes to get you there without going into debt!

***Note: I am a strong proponent of the gap year, where a person travels for a year after high school so they get an idea how the world works and how they would like to fit into it.  It does not have to take a lot of money to travel.  If you are interested, check out: 9 Tricks to Make Travel Cheap!

High Paying Careers with Training Included

 

-Apprenticeship
Want to get paid to go to school? It is possible. Apprenticeships, often called the other 4-year degree are an oft-overlooked program. How it works: You start off as a paid apprentice in a field, you work a regular work under more advanced workers, slowly advancing, there is usually some course work they will provide, you advance in the program, usually gaining in wage and title until you are considered at Master. A good place to start is the United States Department of Labor or a simple google search of your area apprenticeship programs.
Not limited to:
Electrician: 60-70k a year
Lineman: 70-100k per year
Plumber: 50-60k per year

 

 

-Sales
Sales is a career path that does not take any education to enter, minus some states which regulate Real Estate Sales, but even that is small. The pro and con of it are all based on you and most of them are commission based. There is uncertainty in the beginning, and for some used to getting a steady paycheck, it can be a difficult adjustment. Once you get experience and a proven track record, you will always be able to find a job, some positions up the food chain even have base salaries plus commission.
Salesperson: 0 – ???k per year

-Become a Driver
While not in the highest earning income bracket, this is a very good wage for no experience and they often will pay for you to get your Commercial Drivers Licence so you can do the job.
School Bus Driver: 30 – 40k per year
Semi Driver: 30 – 65k per year
Heavy Equipment Driver: 50 – 70k per year

 

 

-Emergency Services
While these careers arguably deserve to be paid much more, they are a well-paid profession that requires no education with all training provided. There are also many unseen benefits to belonging to the emergency services groups that do not come in the form of salary.
Firefighter 30-80k per year
Police Officer 40-85k per year
Emergency Dispatcher 20-45k per year

-Start your own Business
The range in this is huge, from people never getting off the ground to people making millions. This is where the buck stops with you, so your motivation will determine if you fail or succeed. Some inexpensive ways to venture into owning your own business are a service based industry. You can freelance any skills you may already have like writing, designing, tutoring, or photography.
Business Owner 0 -???k per year

 

I want to go to school for **INSERT CAREER** but I don’t want to go into debt what are my options?!

***Note: Please make sure you will find the career worth it, many degrees today don’t really get you very far. Also make sure it is something you will enjoy, try to shadow or volunteer in your field to get a better perspective of what life would look like. For a Top 100 list of jobs factoring in more than just salary see: http://www.careerprofiles.info/top-100-careers.html

-Get a job at a university for free tuition
At many educational institutions if you or an immediate household member work a job eligible for benefits you get an education for free. Many large colleges have all sorts of entry-level jobs that are benefits eligible.

-Get a job that will pay for your education
Some companies have benefits of paying for their employees to get degrees in related fields. Make sure to check your benefits packages to see what you might be eligible for. There are also some companies that will pay off your debt with a commitment to work for them, again this is by the employer so make sure to look for it.
Monster.com 5 Top hospitals that will pay for your education
businessinsider.com Companies that will pay for your tuition

-Get a scholarship when you pledge to work for an underserved population
Medical professionals can get $50k or $120 in scholarships depending on the level needed if they make a commitment to work in an underserved community for two years. More info: https://nhsc.hrsa.gov/

 

-Scholarships
There are a ton of scholarships out there if you are willing to apply for them. Some are more complicated than others. More info: https://www.studentscholarships.org/

-Attend a school that will not charge you a tuition
Yes, they do exist. Some do this to promote specific occupations, religious teachings, or to offer free programs to low-income students. A great resource is: http://affordableschools.net/20-tuition-free-colleges/ however, it is an incomplete list, there are others. Make sure to check any schools you are interested in for programs they might have.

-Military
If you have served in the military or it is something that would interest you, there are programs for education assistance after you have served. See: http://www.benefits.va.gov/gibill

 

Did I miss any?  Have you been in any of these professions or used these techniques? Were they worth it?

Why and How You Should Have a Big, Cheap Wedding.

You Should Have a Big Cheap Wedding why going into debt is a horrible first step in marriage. love, marriage, budget, tips, matrimony, husband, wife, spouse, vows, study, more, guests, finance, financing, downpayment, down, payment http://jessicacoaches.com/2017/04/why-and-how-you-should-have-a-big-cheap-wedding

While perusing the internet this week, I came across several advertisements for financing your wedding.  Because there is nothing that says we are ready for the next chapter of our lives like starting it with a massive debt. Curious, I investigated more.  Washington Times reported that the average price of an American wedding had reached a mind-boggling $35,329!

WHAT! On a party?

 

This amount could send that couple on good economic footing into the world.  35,000 dollars is a great downpayment on a home in most states or even a paid in full, flat-out cash price on some fixer uppers or condos.

 

It could allow that couple to house hack and cover all of their housing expenses!!! Why would anyone in their right mind finance a wedding?

Related: 4 Ways Real Estate Investing Could be Making You Money Right Now!

Where are the friends and families not condoning excess and telling the perpetrators of such wastefulness what they are doing?  TIME reports as of 2016 that 1 in 3 people have no retirement savings and that 72% of millennials have less than $10,000 in savings.

 

Where did we go wrong?

 

When did declaring our love for someone for our all our friends and families to nourish and protect become a pinnacle of American consumerism?

 

Does having the $3,000 dress instead of the $300 one say our love will last forever?  Well it better, because that debt probably will stick around for a while.

 

But guess what, it does not, in fact quite the opposite.

 

A 2014 paper by two Economics professors from Emory University found that “Controlling for a number of demographic and relationship characteristics, we find evidence that marriage duration is inversely associated with spending on the engagement ring and wedding ceremony.

 

Wait.

 

On average, if you spend more money on your wedding ring and wedding, the marriage is less likely to last!  The professors went on to hypothesize that it was possible that the economic stress of the debt from the wedding was what caused such outcome.

 

 

Do we need more reasons to be fiscally responsible, on this special day?

 

It goes on further to say:

 

evidence suggests that the types of weddings associated with lower likelihood of divorce are those that are relatively inexpensive but are high in attendance.

 

So if you want that marriage to last, go cheap, but don’t skimp on the people.

 

I didn’t know all this when I got married, but this is exactly what I had.

 

A big, cheap wedding.

 

This is what I did to get the wedding that I wanted without busting my budget, all said and done I think I ended up paying less than $2000 for 80 people:

 

Buy many of the things you would normally rent.  And then sell them back on ebay.com, craigslist.com, or a Facebook group.  Net after the sale will be a fraction of the cost to rent.  It is usually pretty easy to do in bulk, but you can get more back separate. I got all sorts of things on Amazon.com: Wedding Fairy Lights,  Table Runners,  Table Cloth,  Vases,  and anything else you can think of!

 

Choose a cheap venue.  We did a backyard wedding, and it was wonderful.  Other places that are cheap are city parks, national parks, and some other public facilities.

 

Get a pre-owned wedding dress. Using an expensive dress for one day is wasteful.  I bought something that I had tried on at a store for half-off the tag.  And guess what you can sell it again afterward!! I used  Pre-Owned Wedding Dresses, and I have nothing but good things to say about them.  Many of the dresses offer returns.

Get a Birthday Cake! I went wedding cake shopping and was disgusted both with the level of quality and the price.  Instead, I decided to go to my local bakery and ordered three all white birthday cakes.  They were amazingly good and a fraction of the cost.

 

Rent the tables and chairs, make sure to shop around and don’t mention that it is a wedding.

 

Don’t skimp on the Wedding Photographer.  This was the one thing I wish I hadn’t gone cheap on.  Still, there are so many amazing photographers out there I would choose one that isn’t huge on the wedding circuit to get more value.

 

Food.  This was my biggest expense.  I had my favorite restaurant cater a buffet.  The meal was my chosen splurge for my guests that made my wedding feel not low budget at all.

 

Get flowers in bulk.  I ordered 450 roses in three beautiful colors from Sam’s Club.
 

 

Have family help out! Some family members will want to help share in your big day; this is an awesome way.  Those flowers need to be arranged, the chairs set up and moved, maybe you have a cousin who would rather give some time than cash for a present!

 

How do you feel about the modern American wedding?  What was your wedding like or what are you planning?

9 Tricks to Make Travel Cheap!

9 Tricks to make Travel Cheap, traveler, world, abroad, free, shoestring, budget, frugal, freedom, minimalism, passive, income, passport, visa, advice, world, vacation http://jessicacoaches.com/2017/04/9-tricks-to-make-travel-cheap

I have made a lot of money mistakes when I went traveling.  I do not want to date myself but travel blogs were not as popular, and for the most part, was flying blind other than a Lonely Planet Travel Guide.  I lost thousands that could have been avoided.  So I compiled a list of my hard-earned tips and tricks, so you, would not make the same ones!

1. Go where your money goes farther!
Choose destinations where the cost of living is low. Beer in Western Europe could cost you five times a beer in Eastern Europe. Check out https://www.numbeo.com/cost-of-living/rankings.jsp to get an idea of how much it costs to just be in a country.

2. Travel slowly!
The longer you travel for, the cheaper it is. You get reduced rates staying places for a month or longer. The less jumping around you are doing, the less you are paying to get from one place to another. As you are there for longer, so you can take advantage of free days at museums and free festivals. Go to local parties.

 

3. Travel like you live there.
Don’t go out to eat constantly, pick up food at grocery stores and markets instead. Don’t make every day an action packed day, learn to relax. Take local public transportation instead of the tourist option.

4. Work!
Many places or business will give you room and board for work. It is easy to do, and you can even plan ahead with sites like HelpX.net, WWOOF.net, and WorkAway.info. Do not limit yourself; you can contact organizations or businesses you would like to work at and ask them directly too!

5. Cut down on fees.
Get a checking account or credit card that does not charge you extra for out or country transactions and ATM withdrawals. Or even better, find a bank which refunds any fees you may incur at a bank that is not your own. I use a Charles Schwab Investor Checking account. They have been amazing while stationary and abroad.

6. Play the dangerous game of credit card rewards.
I’m not a huge fan of these, as I always seem to end up giving them the cost of whatever they give me right back in interest. But they can be a powerful tool if you are disciplined. My husband and I took a trip to Nicaragua on points and only incurred a few airport fees.

7. Don’t have expenses at home!
Want to travel for a long time? Drop that lease, rent or sell your home, and sell off all your stuff including your car. Travel while you have no at home expenses weighing you down. You may be homeless, but let me tell you it is freeing!

8. Pay attention to Visas!
Know the status of the country you are entering and if you have to prearrange a visa, pay for a visa upon arrival, or can enter for free. I did not anticipate needing a visa, and it ended up costing me a lot of money in changing flights around as I could not afford expedition, and it would have taken a long time regardless as I was not in my home country. For United States citizens: https://travel.state.gov/content/passports/en/country.html

9. Don’t be afraid of people!
Hitchhike, find a travel buddy to split costs with, stay at someone’s house for free or through CouchSurfing.com. Try to network through social media to find friends and family in the area or their friends and family. Ask people who know more about the area than you to show you around. Not only does it help with costs, but it enriches the experience. Make sure to be kind and pass it on!

Ready to be Inspired?  Check Out:  My Top 5 Favorite Travel Videos!

Know someone else who might want to know how to save money traveling? Make sure to share!

How to lose weight when you suck at it!

how to lose weight when you suck at it, also useful for other things you are bad at like finances. How to get the results you want! weight loss lose maintenance http://jessicacoaches.com/2016/04/lose-weight-loss-maintenance/

how to lose weight when you suck at it, also useful for other things you are bad at like finances. How to get the results you want! weight loss lose maintenance http://jessicacoaches.com/2016/04/lose-weight-loss-maintenance/

how to lose weight when you suck at it, also useful for other things you are bad at like finances. How to get the results you want! weight loss lose maintenance http://jessicacoaches.com/2016/04/lose-weight-loss-maintenance/

People struggle with different things in life, for me, the thing just so happens to be weight loss and maintenance. This article could also be called how to do anything when you suck at it.

Because it is all pretty much the same.

Everyone has things we suck at, the things that no matter how bad we want it, take a back seat to other priorities.  The challenges, that when we fail, we decide to flail around in the mud instead of getting back up.  These tend to be the things on the opposite end of our personalities.  The things that not only do we not enjoy all that much but in addition cause us to reduce or eliminate things that we do enjoy.  See: Whose life are you living? Is it time for a Priority Inventory?

On the flip side, we all have things that are easy for us.  Some of us have no problems getting out and being active, or not eating some random indulgence.  That, unfortunately, is not me.  However,  I am great at staying ahead of financial goals and nurturing my close relationships.  Those are easy for me.  It is not a chore to put effort into it constantly and they constantly rank high in my priorities.

When you are just naturally good at something, and you make the inevitable mistake, you have no problem getting back up and getting back to it.  It is easy.   When I impulse spend, I have no problems recovering, I don’t just slip into financial carelessness.  I have a plan that I don’t even really think about.  I minimize the damage, either with returns, sales, or cancellations and just continue on with my plans.

Abstaining from buying things is not hard either because I am always thinking about my goals.  When I see something I want like a new couch, I think well I would rather retire earlier, sitting on a beach, not in my house on that nice couch.

With all this wonderful restraint, why can’t I just put down the cake!

So how do you do something you are just not good at?

  1. Don’t take on to much to soon.  

    You cannot change your entire lifestyle overnight.  Weight loss is 70% diet and 30% exercise, and my suggestion would be to get control of diet and gradually incorporate exercise as you feel confident enough to stay on track with diet.  Exercise can make you very hungry and hurt weight loss, it is, however, very important for overall health.  Gradually increasing workouts also helps with not injuring yourself.  Here is a great talk from the doctor Michael Mosely.

  2. Integrate your problem area with something you enjoy or are good at.  

    When you are choosing what diet to go on or what exercises to do, remember what is sustainable for you.  If you decide to go on a juice fast,  remember this is a drastic diet and not a sustainable lifestyle.  So unless you already love drinking vegetable juice instead of a meal, it is even more difficult to transition to a whole other lifestyle once you are done with your fast.  I would choose something else.  The same goes for exercise, find what you enjoy physically and do more of it.  If you like the social aspect join a sports league or go to group classes.

  3. Accountability, Accountability, Accountability.

    You can know exactly what you want to do, and you can even have great success at it.  But you will stumble.  Having someone there on the same path as you will not only make it easier to keep to your goals it will also help you to get back up again if you are struggling.  I currently have three people each on a different journey with me (Diet, Fitness, and Motivation), and one professional (a life coach and consultant for health and wellness) I hold myself accountable to.  A new trend in accountability is electronics, there are social communities online, programs to help you with your journey (I use the free version of myfitnesspal.com),  and devices to track you and remind you to get up and get going.

  4.  Keep your goals at the forefront of your mind.

    Set up a vision board.   Keep a journal.  Follow blogs that will fill your email and feeds with things that will keep you on track with your goals. Hint. Hint.

  5. Weight Loss and Maintenance is a lifestyle change.

    It will be something that will have to be something you keep in the back of your mind all the time.   The longer you work at it, the easier it will get.  Just like everything else the more you do it, the more skill you get, eventually, it can be one of those things that are easy for you.  You now enjoy things related to it, and have the tools to keep going.  Your brain will now have the ability to quickly analyze the costs and benefits of an action and choose the right way to go.

  6. Know the risks.

    There is a massive industry of people our there making money off of diet and fitness. There are new workouts and diets popping up constantly.  New gadgets to buy.  Fancy gym memberships. When in fact, you likely need nothing that costs extra money to accomplish your goals.  Make sure to do your research, find unsponsored reviews, consult a licensed personal trainer and/or a registered dietician. See: How to be Smart: When Everyone Wants Your Money!

These tips are set up to be used in conjunction with goal setting:

I can lose the weight! But I can’t keep it off!

This is the camp I am currently in.  Sadly, I have had more yo-yo weight losses then, I can count on one hand.  Something always happens which knocks my health off my top priorities and because I’m not great at it, I’m just back in the mud.  So I’ve decided to seek the fringes and am trying some not so typical things now.  Link coming soon, I’ve been up to some interesting stuff!