Real Estate Deal Analysis & Advice

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Shelly Rutledge Stein
  • Real Estate Agent
  • 28083
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Tiny House on Wheels

Shelly Rutledge Stein
  • Real Estate Agent
  • 28083
Posted Jan 4 2020, 08:21

Investment Info:

Other other investment in Kernersville.

Cash invested: $1

My husband and I built the "Steiny House" from the trailer up in 2018. No contractors hired, just hard work on nights & weekends and now we have it listed on Airbnb in the Greensboro/Winston Salem area.

What made you interested in investing in this type of deal?

What interested us most was the minimalist lifestyle, only having the things you actually need / use. Other attractive qualities were money savings from living in the tiny house, later putting it on Airbnb to make some income and the challenge of building something from scratch was adventurous and fun.

How did you find this deal and how did you negotiate it?

We purchased the trailer from a company in AL and built the rest of the home in our backyard.

How did you finance this deal?

At the time, we were engaged so we registered for wedding gifts that would help us stock our tiny house. We also had a "downsizing" party and had close friends and family come and buy items off of us. We also had 2-3 garage sales and sold a lot of items on offer up. Also, the money we saved from our 9-5 jobs went straight into construction costs.

Lessons learned? Challenges?

Building the tiny house taught me that health care wasn't actually my passion and decided to change my career to real estate. Challenges with building the house was where to put it & how to get hook ups. Luckily we had the land in our backyard and my husband was able to complete the hook ups needed. Building around the wheel wells was challenging but manageable.

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