Our First Rentals! (pictures!)

110 Replies

My husband and I dreamed of these for the last 18 months... We pushed, paid things off and saved money... Did much of the work ourselves, and here we are!  Landlords!  (well, we are taking applications this week)  They are single family 400 sq ft 1 bedroom, 1 bath homes.

Great job. Looks great. Are those cabinets from ikea also?

These look really good, you all did an excellent job. They're furnished like an Airbnb property, have you thought about that option as well? The cabinets look great and I like the colors you went with. How much did you purchase them for and how much work went into fixing them up? Can you post before and after pictures? How long did it take to complete the renovations since you decided to do most of the work yourselves? 

Originally posted by @Joseph M. :

These look really good, you all did an excellent job. They're furnished like an Airbnb property, have you thought about that option as well? The cabinets look great and I like the colors you went with. How much did you purchase them for and how much work went into fixing them up? Can you post before and after pictures? How long did it take to complete the renovations since you decided to do most of the work yourselves? 

 Oops, we built them from the ground up! They're brand new construction. We spent about $40k per house.

All of the furniture is IKEA (including the kitchen cabinets). I believe the kitchens ran us about $4200 each, including the scratch/dent (or on sale) appliances. Granite counters, too. 8.5x8.5 kitchen. 

Originally posted by @Levi T. :

Looks cool. Tiny house village. Keep us posted on how that works out. Whats the projected monthly gross rents?

 $1095/mo... We're building 4 more on this property and will be looking for land closer to home in a few years. We live in Johnson City which is an hour away. 

Great job Molly!

Did you use a builder or contract everything yourselves? $100 per square foot is a great price.

Congrats that is well designed hope these cash-flow great for you

Originally posted by @Connor Heim :

Great job Molly!

Did you use a builder or contract everything yourselves? $100 per square foot is a great price.

 We contracted it ourselves.  We hired out slab, insulation, drywall and tile.

Congratulations, definitely looks very nice inside and out! I can see the hard work that went into this!

Originally posted by @Chester Tan :

Great job. Looks great. Are those cabinets from ikea also?

 Yes they are!

Absolutely just adorable, functional and good use of space.. Rather high end.. Hope you get what you need for rents.. as a 1095 per month for a Studio size place is interesting.

Originally posted by @Deanna McCormick :

Absolutely just adorable, functional and good use of space.. Rather high end.. Hope you get what you need for rents.. as a 1095 per month for a Studio size place is interesting.

 Thank you!  Haha, that was a nice way of saying that... thank you :-)

This area is just south of Austin and has boomed in the last 5 years. I grew up in Kyle - left when I was 18 (2004). When I was growing up it was 2500 people. It's now 50k people. We have priced the 8 apartment complexes in Kyle. 7 of them are less than 3 years old. 1 is 8 years old. Comps are between $1075 and $1145, including water, trash, covered parking and washer/dryer.  Ours are mostly furnished.  On a secluded and gated 10 acres.  So we're priced comparably.  It just depends on what people want.  This is not an apartment... You don't have the amenities like apartments but you also don't share any walls or ceilings.  These are our first two.  We'll just have to see how it goes.  We have plans to build 4 more on this property and 6-10 closer to home.

Originally posted by @Kanwar Sodhi :

It looks great, how do the numbers look in terms of purchasing and rehabbing?

 We built these from the ground up.  We built for $40k each and renting for $1095/mo.  After expenses we come out with $750/mo per house.  We plan to build a total of 10-16 more.

I would've loved a rental like this when I was younger & single. You have great taste!

Nice job with the house, it looks great! What type of financing did you use to help start the project?

This is very interesting. I hope you get them rented ASAP and can build the next ones. I love the idea. 

Beautiful job on the house. Good luck.  Keep us posted on the renting!

Great job! You have an amazing taste. I like every part of this design.
Did this land have buildings prior to you?
Did you have to bring a water, sewer and electricity as well?

Those look great! 

I would send one word of caution, the open ceilings look very good and certainly work well in a one bed.  If you decide to do any 2+ beds I would think twice before leaving it open like that.  I have a property with an open ceiling it looks beautiful, but everything always sounds like they are in the room with you.

Wow! So cute! Id so live there myself LOL Hope you get great cash flow!