All Forum Posts by: Nathan Faucett

@Mike McCarthy is Anderson a brand or an installation company? I couldn't find it in a simple google search. Armstrong was the only thing that came up.

@Justin V. I'm not sure about fire separation codes, but my gut instinct is no. The basement will still be connected to the the ground floor, but it will be behind a locked door. Maybe you could speak more to that.

Have you had any experience painting tracks like this? That was my first instinct, but I wanted to make sure that the finished product looked high quality. 

Hi all - I am currently in the process of renovating my basement to convert it into rental property (most likely a short term or vacation rental, although I wouldn't be opposed to a long term rental if I could find good tenants).

Among other things, the ceiling needs to be replaced. Currently existing is an acoustic drop ceiling that has been painted black, grid and all. It looks terrible and it needs to go.

I have done some research and it seems like there are some arguments for both sides. So... based on your experience, which one is better from a cost, appearance, practicality, and DIY standpoint? 

AND if you prefer acoustic drop ceiling, do you have any cost effective material recommendation that would make the room look nice?

Thanks in advance!

@Tristan S. in my quest to figure out if I could do some of this work myself, I found this website: 

http://www.ifinishedmybasement.com/

While I haven't looked at everything on it, there is some information regarding basement upgrade. Maybe this will be of some use to you.

So our basement is currently "finished".

It has HVAC, plumbing, ceilings, walls, flooring, etc.

However, it needs an overhaul. The prior residents really didn't take care of the space like they should have. Some of the improvements include:

• Replacing the existing carpet with LVP (They had animals and there is a distinct odor)
• Replacing the acoustic drop ceilings (They painted the existing drop ceiling black)
• Removing a sliding glass door and replacing it with a french door for rental entrance
• Replacing the existing fluorescent lighting with can lighting
• Replacing painted wood panel with drywall, finishing, and painting said drywall
• Moving walls around to block off some areas and to make some areas bigger
• Adding a kitchen, which include cabinets, sink, range, and maybe a dishwasher
• Create a path leading from my driveway around the backyard to the basement entrance.

My space is about 1200 SF and I mentally prepared to spend about 15K to redo the basement to an acceptable quality level. This estimate may be a bit high, but this is what I have set aside to do the work. 

The ultimate goal is to use this space as a rental until my family grows to a point that we need to reclaim it. Coworkers in adjacent neighborhoods have similar spaces and have been able post them on AirBnB and have claimed somewhere between $10K-12K of income per year. This will seriously subsidize our mortgage payment and further add to our buying power when looking for BRRRR opportunities in our area, which our natural next step.

Hello all - I am about to start doing some work in my basement to convert it into an AirBnB. I am looking for contractor recommendations for 

• Electricity
• Plumbing
• Carpentry
• Drop Ceilings
• And anyone else you might want to recommend

I am located in Greensboro, NC (Triad Area). 

Please send me your best guys/gals!

@Pat Lulewicz So in summary, I should be fine to move forward with some sort of rental in my basement within the first year without any ramifications. Insurance seems to be a personal choice.

Hello All!

My wife and I recently purchased our very first home in North Carolina! Hurray! While it wasn't our initial intention, we realized that the 2700 SF home with a two bedroom basement was too much room for us right now and we decided that we would convert the basement into a rental of some sort (Vacation, Short Term, Long Term) until we grew into the space.

We are able to secure a loan for 3% down and had the seller pay the private mortgage insurance up front, so we felt like it was a big win because we kept a lot of the capital that we had saved up for a down payment in our pocket. However, when we sat down at the table with the real estate attorney to sign all of our papers, she informed us that the home had to be a primary residence for at least one year before we could rent it out.

Can we house hack during the first year of home ownership? If so, are there any steps that we need to take to make sure we have covered all of our bases (notify the lender, notify insurance agency, etc.)?

@Michael Baum - "I would really go through the area"  - What do you mean by that?

I'm not really sure about the wall. I have attached more pictures that might give us a better idea. It seems like it might be painted wood panel walls.

@Ashley Kehr - That is a good thought. My wife will be all over making the space look nice (she loves Joanna Gaines, just like every other American Woman right now). I am definitely more gifted in creating systems. She is the someone who makes a space feel like home.

@Luke Carl - I'll have to double check on that. An initial search makes it seem like its legal for my city. I actually found homes in the same neighborhood. I'll have to buy the place and get some furniture in there first before I can get started, but I am looking forward to executing!

@Alia Ganaposki - Thanks for the tip! I will definitely check out that form. I think that my location would lend itself better to people traveling for business or family, but I think I can accommodate accordingly. I appreciate your input!