Just got my first house hack!

Just got my first house hack!

New to Real Estate · Charlotte, NC · Member since 2022 · 10 posts · 27 votes

I'm running to BiggerPockets because no one else understands what I'm doing or how excited I am. I closed on my first home/first house hack last week! It is a 4 bedroom, 2.5 bathrooms single family home. My plan is to convert the dining room into the 5th bedroom and the 1/2 bath into a full bath and ultimately make this a 5 bed, 3 bath home.

The home is exactly what I wanted with light renovation needed. I've never done anything DIY so this will be my first attempt. I am planning to put in LVP, paint the kitchen cabinets, and add some tiles to the bathroom. Unfortunately, it seems that I may need to replace all the carpets upstairs since it has black lines on the edges due to soil filtration (previous owners didn't clean their air filters often).

I'm feeling very optimistic right now, but have spent a whole week just trying to decide on a good value LVP so I can replace the 1st floor... I still need to pick a carpet, get it installed, and find a contractor who can do the bathroom conversion (I definitely cannot do that).

Would love to hear other's experience diving into doing DIY for the first times. Any tips?

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San Francisco Bay Area · Member since 2018 · 33 posts · 31 votes
2y

@Danielle, awesome to hear you got your house hack property. It sucks that people in your circle don't understand or can appreciate what a life-changing decision you made by buying an income producing property! 

So for DIY, I used to be a construction engineer(managed contractors), my wife and I also renovated our own house hack with LVP, repainting tiles, walls etc... 

I have two pieces of advice for you. One is practical and second is mental. 

On the practical side, try to look for an LVP flooring that has sound blocking properties. With 4 other roommates, the more sound proofing measures you can take the better experience it will be. So flooring, insulation etc... should have sound proofing thought out. Use HomeDepot's flooring calculator to calculate how much flooring you'll need (it includes a 5% extra flooring buffer because you will mess up some cuts)

On the mental side, whether it's a big construction project or a simple LVP flooring project, you will encounter set backs, problems etc... you're going to want to give up, take a deep breath and push on. It'll get done. 

We just completed a triplex renovation in Charlotte that took 1.5x longer than it should but we pushed through and we were able to double rents and improve the living quality. 

Let me know if you have any specific construction or house hacking questions

See this reply in the discussion

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  • Cleveland, OH · Member since 2022 · 811 posts · 578 votes
    2y

    Danielle, 

    Congrats on taking action!! If you're looking for people to match your excitement, this is definitely the place to be. 

    I don't have any insight into DIY (although I plan to do a good deal of DIY when I buy my house hack in 2024).

    Everything is a learning process and if you don't know how to do something, have full confidence that you can learn how to do it. And if not, just hire someone you can trust to help! If I've learned anything from other real estate investors, you may cycle through several contractors/handymen.

    You got this! 

  • Noah BaconPro Member
    Property Manager · Lansdale, PA · Member since 2021 · 826 posts · 1k+ votes
    2y

    Congrats, Danielle!!!

    Great thoughts on what to DIY and what to contract out. Will you need to add a door to the 5th bedroom? Another thing to think about is framing and adding a pre-hung door to the additional space. I wanted to DIY this on my second house hack, but decided to contract it out as I was not able to properly finish/texture it on my own.

  • Derek BrickleyBusiness Member
    Lender · Ann Arbor, MI · Member since 2021 · 664 posts · 226 votes
    2y

    Awesome!!  Congratulations, and know that we do understand hahah.  Just know everything is going to cost more and take longer than you planned/hoped, but do your research and keep up the great work!  For LVP, we have had great luck with the heavier wear stuff. Finding one that has built in padding and a thick wear layer (10 or 12 mm) makes for easier install, it holds up forever, and is just all around better.  I'm sure there are other brands, but we use SmartCore LVP for all our rentals (from Lowes).  It is pricier, but we have found it to be worth it and it looks great.  Get some samples (free in store) and get some color wheels for paint and see what you like best!

    Gold Star Mortgage Financial Group548 Reviews
  • West Linn, OR · Member since 2023 · 35 posts · 23 votes
    2y

    You should check out Lifeproof LVP from Home Depot. It's indestructible and easy to install. Congrats on your new house!!

  • Samara HuntleyPro Member
    Investor · Charlotte, NC · Member since 2020 · 124 posts · 189 votes
    2y

    Congrats Danielle! The first one is always the hardest. You put in the work and it shows. It's a huge accomplishment and you should be so proud of yourself. 

    I have many colleagues who are killing the house hack game and cashflowing greatly in these big homes like you just bought! 

    I am a licensed general contractor and would love to take a look at your bathroom see if I could help and if not point you in the right direction. I also have a very good contact for LVP at a good price - feel free to message me for his info! 

  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    2y

    @Danielle Campos
    If it's your first one and you are doing it DIY YouTube will be your best friend. There are plenty of videos on there to figure out how to do anything. 

  • Vitaliy VolpovPro Member
    Investor · Albany, NY · Member since 2015 · 134 posts · 132 votes
    2y

    Hey Danielle!

    Congratulations on the first house hack! Others have already given you good advice on the DIY vs. contracting out and the flooring questions. My question and encouragement to you is about the big picture. I am curious about your plan for renting part of this house? Charlotte is obviously an attractive destination. Are you planning to rent the rooms on airbnb or to long-term roommates? Or is your "house hack" plan to do a live-in flip or to rent the whole house out after you live there for a while and then move out and on to a second property? 

    I know you are very excited, as well you should be! But, I would encourage you to also think strategically about how to maximize the "hack" part of the house hacking strategy. It's fun to remodel the house and make it as nice as possible. But, at the end of the day, you also need to make money and offset the costs through tenants.

    Vitaliy

  • New to Real Estate · Charlotte, NC · Member since 2022 · 10 posts · 27 votes
    2y
    Quote from @Vitaliy Volpov:

    Hey Danielle!

    Congratulations on the first house hack! Others have already given you good advice on the DIY vs. contracting out and the flooring questions. My question and encouragement to you is about the big picture. I am curious about your plan for renting part of this house? Charlotte is obviously an attractive destination. Are you planning to rent the rooms on airbnb or to long-term roommates? Or is your "house hack" plan to do a live-in flip or to rent the whole house out after you live there for a while and then move out and on to a second property? 

    I know you are very excited, as well you should be! But, I would encourage you to also think strategically about how to maximize the "hack" part of the house hacking strategy. It's fun to remodel the house and make it as nice as possible. But, at the end of the day, you also need to make money and offset the costs through tenants.

    Vitaliy


    Hi Vitality. Thanks for commenting! I'm 100% with you there. I want to make sure I make money, so trying to keep costs low while also trying to make the house look like a place people would want to live. My strategy right now is to get long term roommates and to move out after the year to buy my 2nd house hack. I'm trying to DIY as much as I just to A) reduce costs and B) I'm naturally curious to see how much I can do myself so I can gain experience. If the long term roommates strategy doesn't pan out, then I'd go for the Airbnb route.

    Appreciate your comment and let me know if you have any other thoughts!

  • New to Real Estate · Charlotte, NC · Member since 2022 · 10 posts · 27 votes
    2y
    Quote from @Benjamin Sulka:

    Danielle, 

    Congrats on taking action!! If you're looking for people to match your excitement, this is definitely the place to be. 

    I don't have any insight into DIY (although I plan to do a good deal of DIY when I buy my house hack in 2024).

    Everything is a learning process and if you don't know how to do something, have full confidence that you can learn how to do it. And if not, just hire someone you can trust to help! If I've learned anything from other real estate investors, you may cycle through several contractors/handymen.

    You got this! 


    Thank you for the words of encouragement! I've been stuck on the "contractors" part of building your team but I'll get there eventually to contract out the big stuff.

  • New to Real Estate · Charlotte, NC · Member since 2022 · 10 posts · 27 votes
    2y
    Quote from @Derek Brickley:

    Awesome!!  Congratulations, and know that we do understand hahah.  Just know everything is going to cost more and take longer than you planned/hoped, but do your research and keep up the great work!  For LVP, we have had great luck with the heavier wear stuff. Finding one that has built in padding and a thick wear layer (10 or 12 mm) makes for easier install, it holds up forever, and is just all around better.  I'm sure there are other brands, but we use SmartCore LVP for all our rentals (from Lowes).  It is pricier, but we have found it to be worth it and it looks great.  Get some samples (free in store) and get some color wheels for paint and see what you like best!


     Definitely feel is already on the "cost more" part. Haven't experienced the "take longer" part but I'm sure my 1 month timeline will stretch out... Will take a look at SmartCore - thanks!

  • San Francisco Bay Area · Member since 2018 · 33 posts · 31 votes
    2y

    @Danielle, awesome to hear you got your house hack property. It sucks that people in your circle don't understand or can appreciate what a life-changing decision you made by buying an income producing property! 

    So for DIY, I used to be a construction engineer(managed contractors), my wife and I also renovated our own house hack with LVP, repainting tiles, walls etc... 

    I have two pieces of advice for you. One is practical and second is mental. 

    On the practical side, try to look for an LVP flooring that has sound blocking properties. With 4 other roommates, the more sound proofing measures you can take the better experience it will be. So flooring, insulation etc... should have sound proofing thought out. Use HomeDepot's flooring calculator to calculate how much flooring you'll need (it includes a 5% extra flooring buffer because you will mess up some cuts)

    On the mental side, whether it's a big construction project or a simple LVP flooring project, you will encounter set backs, problems etc... you're going to want to give up, take a deep breath and push on. It'll get done. 

    We just completed a triplex renovation in Charlotte that took 1.5x longer than it should but we pushed through and we were able to double rents and improve the living quality. 

    Let me know if you have any specific construction or house hacking questions

  • Cleveland, OH · Member since 2022 · 811 posts · 578 votes
    2y
    Quote from @Danielle Campos:
    Quote from @Benjamin Sulka:

    Danielle, 

    Congrats on taking action!! If you're looking for people to match your excitement, this is definitely the place to be. 

    I don't have any insight into DIY (although I plan to do a good deal of DIY when I buy my house hack in 2024).

    Everything is a learning process and if you don't know how to do something, have full confidence that you can learn how to do it. And if not, just hire someone you can trust to help! If I've learned anything from other real estate investors, you may cycle through several contractors/handymen.

    You got this! 


    Thank you for the words of encouragement! I've been stuck on the "contractors" part of building your team but I'll get there eventually to contract out the big stuff.


     You got this! 

  • New to Real Estate · Charlotte, NC · Member since 2022 · 10 posts · 27 votes
    2y
    Quote from @David Liu:

    @Danielle, awesome to hear you got your house hack property. It sucks that people in your circle don't understand or can appreciate what a life-changing decision you made by buying an income producing property! 

    So for DIY, I used to be a construction engineer(managed contractors), my wife and I also renovated our own house hack with LVP, repainting tiles, walls etc... 

    I have two pieces of advice for you. One is practical and second is mental. 

    On the practical side, try to look for an LVP flooring that has sound blocking properties. With 4 other roommates, the more sound proofing measures you can take the better experience it will be. So flooring, insulation etc... should have sound proofing thought out. Use HomeDepot's flooring calculator to calculate how much flooring you'll need (it includes a 5% extra flooring buffer because you will mess up some cuts)

    On the mental side, whether it's a big construction project or a simple LVP flooring project, you will encounter set backs, problems etc... you're going to want to give up, take a deep breath and push on. It'll get done. 

    We just completed a triplex renovation in Charlotte that took 1.5x longer than it should but we pushed through and we were able to double rents and improve the living quality. 

    Let me know if you have any specific construction or house hacking questions


     Appreciate the advice, David. As much as I personally hate carpet, we will be keeping them in the bedrooms for that same sound proofing reason. We're also lucky that none of the bedrooms share a wall so that should reduce any noise disturbances. I'll make sure the LVP on the 1st floor is not noisy for the one bedroom down there.

    Thanks for the mental tip. I'm sure I'll need it!

  • Real Estate Broker · Charlotte, NC · Member since 2016 · 569 posts · 351 votes
    2y

    Hey Daniel, congrats on taking the plunge into real estate! You're in the right place, surrounded by people just as excited as you are.

    Remember, everything is a learning process. Don't know how to do something? No problem! Learn it, or, if you're feeling fancy, hire someone you trust to help and get different estimates. 6 Critical Documents you need if you're working with a Contractor: 

    Independent Contractor Agreement

    Final Scope of Work

    Payment Schedule

    Insurance Indemnification Agreement and W2

    Final & Unconditional Lien Waiver: this is the most important one!

    You got this, and we're all rooting for you!

  • Derek BrickleyBusiness Member
    Lender · Ann Arbor, MI · Member since 2021 · 664 posts · 226 votes
    2y
    Quote from @Danielle Campos:
    Quote from @Derek Brickley:

    Awesome!!  Congratulations, and know that we do understand hahah.  Just know everything is going to cost more and take longer than you planned/hoped, but do your research and keep up the great work!  For LVP, we have had great luck with the heavier wear stuff. Finding one that has built in padding and a thick wear layer (10 or 12 mm) makes for easier install, it holds up forever, and is just all around better.  I'm sure there are other brands, but we use SmartCore LVP for all our rentals (from Lowes).  It is pricier, but we have found it to be worth it and it looks great.  Get some samples (free in store) and get some color wheels for paint and see what you like best!


     Definitely feel is already on the "cost more" part. Haven't experienced the "take longer" part but I'm sure my 1 month timeline will stretch out... Will take a look at SmartCore - thanks!


     Yes of course!!  Keep us all updated :)

    Gold Star Mortgage Financial Group548 Reviews
  • Member since 2023 · 39 posts · 18 votes
    2y

    congrats Danielle!!

  • Owen MitchellPro Member
    New to Real Estate · Jacksonville, NC · Member since 2019 · 91 posts · 21 votes
    2y
    Quote from @Patrick Drury:

    @Danielle Campos
    If it's your first one and you are doing it DIY YouTube will be your best friend. There are plenty of videos on there to figure out how to do anything. 

    Ditto That I haven’t done my first Deal yet but I did DIY my grandmother floor using a YouTube and it came out Great!
  • Real Estate Broker · Raleigh, NC · Member since 2019 · 17 posts · 10 votes
    2y

    Yay congrats, so happy for you ♡

    I like aqua seal wood laminate since it's waterproof ;)

    I try to stay away from carpet so when I have new renters I dont have to keep replacing it. (Due to stains spills etc, it's cheaper but,  in the long run will cost you more in my experience)

    best of luck!

  • New to Real Estate · TX · Member since 2023 · 27 posts · 28 votes
    2y

    congratulations on your first deal!

  • Vitaliy VolpovPro Member
    Investor · Albany, NY · Member since 2015 · 134 posts · 132 votes
    2y
    Quote from @Danielle Campos:
    Quote from @Vitaliy Volpov:

    Hey Danielle!

    Congratulations on the first house hack! Others have already given you good advice on the DIY vs. contracting out and the flooring questions. My question and encouragement to you is about the big picture. I am curious about your plan for renting part of this house? Charlotte is obviously an attractive destination. Are you planning to rent the rooms on airbnb or to long-term roommates? Or is your "house hack" plan to do a live-in flip or to rent the whole house out after you live there for a while and then move out and on to a second property? 

    I know you are very excited, as well you should be! But, I would encourage you to also think strategically about how to maximize the "hack" part of the house hacking strategy. It's fun to remodel the house and make it as nice as possible. But, at the end of the day, you also need to make money and offset the costs through tenants.

    Vitaliy


    Hi Vitality. Thanks for commenting! I'm 100% with you there. I want to make sure I make money, so trying to keep costs low while also trying to make the house look like a place people would want to live. My strategy right now is to get long term roommates and to move out after the year to buy my 2nd house hack. I'm trying to DIY as much as I just to A) reduce costs and B) I'm naturally curious to see how much I can do myself so I can gain experience. If the long term roommates strategy doesn't pan out, then I'd go for the Airbnb route.

    Appreciate your comment and let me know if you have any other thoughts!


    Hi Danielle!

    Yes, that makes sense. Good luck! 👍

    Vitaliy

  • Jake AndronicoBusiness Member
    Realtor · Reno, NV · Member since 2019 · 1k+ posts · 938 votes
    2y

    @Danielle Campos

    Congrats!!! That's super exciting :) 

    A friendly warning from deciding against a similar project in one of my house hacks, the bathroom renovation may be a bit extensive. Do you think you need to do this to accomplish your house hacking goal initially? 

  • New to Real Estate · Charlotte, NC · Member since 2022 · 10 posts · 27 votes
    2y
    Quote from @Jake Andronico:

    @Danielle Campos

    Congrats!!! That's super exciting :) 

    A friendly warning from deciding against a similar project in one of my house hacks, the bathroom renovation may be a bit extensive. Do you think you need to do this to accomplish your house hacking goal initially? 


     Hey Jake. Thanks for the question. Since I'm planning to have 5 bedrooms and one has a master bath, that would mean 4 people would need to share 1.5 bathrooms. My goal with extending the half bath to a full is to provide more shower spaces for people and hopefully make it more attractive to live in the home. I guess at the end of the day it isn't 100% needed but personally I think it would make it more marketable.

    Let me know if your thoughts.

  • Saint Cloud, MN · Member since 2017 · 90 posts · 70 votes
    2y

    Congratulations!

  • Member since 2023 · 13 posts · 1 vote
    2y

    Hey @Danielle Campos Big congratulations on your first! 

    I'm new to Charlotte and have been drowning myself in research about House Hacking and this area. It's tough to find a small multifamily here that makes sense so far! 

    I have similar plans to what you're doing, and have yet to find the right deal for the goals I've set for myself. I'd love to pick your brain a bit about how things went for you from search to close and even to making the decision on how you can improve the property to force appreciation. 

    Would love to talk with a new investor like myself here in the area. Feel free to reach out and let's connect! Perhaps we could help each other out along the way in our investment journey in the future! 

    Congratulations again on your first House Hack! 

  • Ryan ThomsonBusiness Member
    Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
    2y

    @Danielle Campos BP is good place to go when no one else understands you :) 

    It sounds like an awesome idea to me. Building a bedroom is relatively cheap when compared to how much you can rent that bedroom for. So great plan!

    I would ask for contractor recommendations from your realtor and your local real estate meetups. Get a bid or two and run with it! 

    The Assumable Guy544 Reviews
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