Live in the truck save $ and become financially independent???

The best thing you can do to save money is not get married and not have a girlfriend. Spending a little money on a hooker here and there when you need too will save you SO much money in the long run than having a girlfriend. I would say stay FAR away from the typical truck stop lot lizard though and use the known internet escorts instead. Seriously, girlfriends and wives are what most men's money goes too, and then the same men will whine and complain if Netflix raises it's price one dollar, meanwhile they are being financially drained by wives and girlfriends.

 

true to that horses lol

I have thought about a lot of what if's, myself I am married with 2 daughters, have 2 cars etc but I still can manage to save some money monthly but not nearly as much if I was single with no bills. If done right an early retirement can be there for the taking

 

I own a four plex apartment bldg. I rent out 3 of the units and live in one when I'm home. All units share a water heater, washer/dryer and central air/heat unit. The climate unit is monitor able so I can tell if one unit is running the AC at full blast or something crazy. 2 units pretty much cover the mortgage, management fees and utilities. Unit 3 and any extra from units 1&2 go into savings. I hire a property management company to handle simple tenant issues, maintenance/repairs, landscaping. I hire the services of a private security company and they drive by the property during the night and day and respond to tenant issues. I pretty much only come in for doctors visits, to see friends and to see a prospective tenant. Aside from the phone/4G bill and food on the road and at home most of my income goes into savings.

 

If you plan on living in a rollin' batchelor apartment (i.e., your truck) you will need an address that you can use as your "tax home." Otherwise, you can kiss the per diem deduction on your taxes goodbye. That doubles as your address for other legal matters, including your CDL.

Mail is another problem... you need to be able to trust whoever lives there to save your mail for you. Otherwise, you'll need a PO Box, which does save a lot of headaches in getting your mail. Most of your finances, bills etc, can be dealt with electronically through internet banking, and email statements. You will need a good internet connection, so look into good coverage via your cell provider. Most smart phones will double as a internet modem.

 

OP, you are doing it right. I'm a bit older, but my plans are to do the exact same thing if/when I get into OTR; live in the truck and save save save. As to finding a woman, heed the words of men who have come before you...

This may sound crass or a completely foreign concept but there is truth in it (it would have been cheaper for me to get a high end escort four times a month, lol). By the end of '98 I had amassed 2.5 million in rental property (81 units). I was all but set for life. Then I got married to the nicest girl I had ever met. Within 3 years, it was all gone; lost everything including the house I inherited. It happens. Protect yourself. Lawyer up before marriage and get a prenup.

 

If you live out of the truck you won't be able to claim your per diem.

How much is that worth?

 

I had a good talk with a trucker and his wife that lived out of their truck for about 7 years, paid cash for a nice house and about 60 acres of farmland in Iowa a few years ago when the prices hit bottom. He leases out the farmland to a neighbor that plants corn. He and his wife "get by" with the 3 acres their home, garage, barn, and garden sit on. The garage is big enough for him to park his rig during the winter months with a walk under for work under the truck. Now they are driving about 70-80K miles per year, enjoying the farm the rest of the time. They have an income property to supplement their driving, plenty of produce to can or eat fresh in season, and some of the best deer hunting around.

 

Best to get permission from whoever owns the truck to use it as a dorm room 365 days / year

 

Go for it!

We have 4 rentals freehold, gross $20k/year.Now at the stage of no mortgage, notes etc. Wife gets to retire, I'm planning on O/O 100k miles/year.

If you're game, use a HELOC for deposit on your 2nd 4plex and go forth. You'll need a good maintenance guy, and maybe a friend or family member for emergency.

Screen your tenants, keep rent low or reduce it for on time payment over 2 years, maintain the property, and be good to them - we often let them skip Dec or Jan rent as a Xmas present.

Had 1 bad actor in 8 years - rest were good.Helps if you can remember being in their shoes at one time.

Hookers? You don't pay them for sex, you pay them to leave , without half your stuff. That's all I'll say.

Good luck. Always like to see a man with a plan.

 

Oh - home address? No problem.

Use a friend or family member. Put the phone or internet in your name. Bill sent to that address in your name, problem solved.

Po box the mail - put that on your license.

Then claim the $59/day per diem at tax time and smile at the refund check every year that you lump sum on your rentals.