All Forum Posts by: Richelle Ouellette

Hi Shaung -- I'd suggest a visit to the Austin code department as a starting point for any type of construction projects. They take walk-ins every day from 8-12. 

I do currently live in the main house, but Texas laws recently changed regarding owner occupancy and short term rentals. I haven't investigated the changes thoroughly enough myself to speak confidently, but I believe the state has overruled Austin's policies making them significantly more flexible for investors.

I have built many businesses and treat my real estate the same -- so with systems set up I probably spend anywhere from 20-60 minutes a week on my Airbnb.

Hey Jason! The shed is 192 square feet -- so at roughly 2k/month, I'm getting 10/sf/month! It cost roughly $18,500 to convert including materials and labor, much of which I did myself/with the help of a handyman.

Vacancy varies by season in Austin, but I range from 80-99%, based on nightly pricing of $55-99.

Good luck with your project... where are you building?

Thanks, Christian -- I appreciate that feedback! I hired a local plumber and we tied the water/sewer from the shed into the main line for the front house. 

@Brian Egr Looks fantastic! Congrats!

@Brian Egr Congrats on the deal! I'd love to see some 'after' pictures!

My agent thought I was insane when I wanted to buy the house everyone else had overlooked because of the *five* structures in the back yard. (So many sheds!)

Well, I’m the crazy person with a creative vision and where most people saw trash they’d have to clear out, I saw opportunity. After assuring everyone I was sure this was a good one and signing closing docs, I immediately sold two of the sheds on FB marketplace (for just under $1k), rented the shipping container for storage use ($200/mo), and turned the largest unit into a cute casita which currently rents on Airbnb for $2,000+/month (more than covering my entire mortgage).

I got a lot of weird looks when I started this project, but now that it’s done I get endless compliments and questions asking how I built a shed into a tiny house that was featured on Apartment Therapy.

I love dreaming of wild ideas to maximize and monetize underused space, to make it beautiful and profitable. Do you have a garage, shed, warehouse, empty basement, etc. that you’ve thought about converting into a cash flowing property? I’d love to hear more about your project!!

@Kenny Ramsey - What a great position to be in! I lack the credentials to tell you what to do with your money, but the great news is you have lots of options, so you can choose the route that works best for you.

@Blake Edwards offered great advice regarding multi family or turnkey single family.

I can't tell you what to do with your money, but I would throw short term rentals into the mix because that's what I'd do. :) Charlotte is a hot market and with $150k I imagine you can pick up 2-4 small properties in great areas, make some repairs (since you have the skills!) furnish them, and start cash flowing almost instantly. Run your numbers of course, but in my experience you'll receive higher than average returns than a long-term rental and you will definitely get the property management experience you're looking for! I operate several properties this way on Airbnb and it's a really fun way to build wealth through real estate, host interesting travelers, and make an income that helps me avoid the need for a 9-5 job! Good luck!