House Hack - Albany, NY

[Peter Rowell]

So after months of looking at homes, getting outbid, and failed inspections, my wife and I finally closed on our first home a couple weeks ago and are trying to get some renovations done before we move into our unit at the end of the month. Big thanks to bigger pockets for keeping me motivated to keep going after losing out to countless cash offers (would be nice to have $200k liquid, maybe someday).

Some quick details:

Purchase $209,200

Two Family 3br 1 bath each unit - Tenants Currently Downstairs pay $1100 a month

PITI - $925

Taxes - $750

It's not a slam dunk right away, but we are doing some work (redoing the bathroom and a bit of painting) and hope to push the rents a bit higher in the next few years (market for 3 BRs in the area tends to run $1300-$1500 depending on the location and quality of rental. 

For the bathroom, I am entertaining the idea of doing a tile shower inspired by a Mr. Money Mustache post here: http://www.mrmoneymustache.com/?s=how+to+make+a+sw.... I'm thinking it will hold up better long term and command higher rents down the line. I'm reasonably handy, but this will be a big challenge, maybe too big. Thoughts?

I

[Mindy Jensen]

@Peter Rowell, we did the exact same thing for our shower, following MMMs directions. It turned out really well. Some tips:

That river rock tile he used on the floor is extremely difficult to work with. It comes glued to a mesh backing, but the mesh isn't stiff, it's pretty flexible. So imagine you have a bunch of rocks glued to a piece of t-shirt material - they flop everywhere, including the thinset you just put down, which gets it all over the rocks. (Pro tip: ONLY use thinset for the floor, NOT mastic. Thinset doesn't rehydrate with water, unlike mastic which absolutely does.)

There is a way around the flopping rocks, though. If you put them upside down on a piece of cardboard, then spread a very thin layer of thinset on the back and let it dry, it will hold it in place long enough to allow you to place correctly.

Make sure to follow his directions. The RedGuard is extremely important. (And smells like hell so wear a respirator and open the windows.)

I'd love pictures when you're done.