Tacoma Converted Garage // A Proper Introduction + How to house hack like a single lady

THE TACOMA CONVERTED GARAGE

We’ve been working on the Tacoma Converted Garage project for 5 months now (including this dining nook makeover), and we’ll be spending lots more time over there this Fall. So I thought it was time to do a proper introduction to the project here on the blog.

Tacoma Converted Garage // from our dining nook makeover with Metrie

About the Property and the House Hack

The Tacoma Converted Garage is the third unit of a victorian triplex in Tacoma, 30 miles of Seattle. While I wish Garrett and I owned this old beauty (1890s…swoon), alas, we do not. But it is in the family. Garrett’s sister, Naysa, bought this triplex back in 2015 and moved into the third unit (aka the converted garage) while renting out the apartments in the main house. There’s a lot to unpack about this property so let’s get to it.

How to House Hack Like a Single Lady

This was Naysa’s first home purchase and she made it as a single woman. I wanted to point that out because what Garrett and I do is always about ‘we’ and ‘us’ but there are single people taking on just as much and they’re doing it with only two hands. I’m immensely impressed by this (as an identical twin, doing things by myself is far from my comfort zone) and can only imagine how daunting it is to buy, renovate, and rent out a home by oneself. Naysa is fearless and awesome and a total #rolemodel.

Second, Naysa has taken on ALL of the landlord duties herself. Or, I should say, landlady duties. Of course Naysa has a mentor in her brother who’s just a phone call away, but Naysa has become a landlady in her own right. She advertises vacancies, writes leases, maintains the property, and deals with the finances on her own.

Also of note, this property is in a great neighborhood of Tacoma and Naysa probably couldn’t have afforded a home in here without the added benefit of rental income. Speaking of rental income, Tacoma has seen a healthy increase in rents over the past 3 years and Naysa’s renters (in the main house) now pay the mortgage for the entire property. This is the goal of house hacking and Naysa has nailed it. Also, apparently house hacking runs in our family 😉

The Story Behind the House Hack (aka $150,000 in Student Loan Debt)

While house hacking was a necessity for Garrett and I, Naysa’s back story is a little different. Naysa went to school for 8 years to become a veterinarian and came out of college with $150,000 in student loans. Her student loan payment is a huge monthly burden on her budget. So when it came time to buy a home, she looked for a property that could help with her finances. In the end, this triplex made it possible for her to pay down her loans and own a home in an awesome neighborhood. Impressive for anyone, this feat is especially notable for a single lady coming out of college with six figures of debt.

One more note: we’ve never shared someone else’s house hacking journey before but I think there’s a lot of value in it. So we asked Naysa if we could share her story on the blog in hopes that other’s can get something from it.

Tacoma Converted Garage renovation // Cathy, Garrett, and Naysa

Now back to the renovation…

The #TacomaConvertedGarage Renovation

The original finishes in the garage apartment were rough to say the least. It’s unclear when the garage was converted into an apartment, but regardless, it needed renovated again. This year, Naysa finally pulled the trigger. And because life is always throwing curveballs, Naysa got a new job in Ellensburg shortly after starting on the plans. Ha! Renovating now requires a commute, but on the plus side, Naysa now lives near us and coaches our son’s soccer team (did I mention how awesome Naysa is…?!).

Unfortunately I didn’t get any shots of the Tacoma Converted Garage before demo began, but these at least should give you a feel for the architecture and flow of the space. And if you get queasy just looking at rough spaces, scroll ahead for the floor plan and design board.

Like I said, it was rough.

Floorplans and Design Boards

Every square inch of this unit is being renovated. Not only are we gutting the kitchen, bathroom, and laundry space, but the entire unit is getting new electrical, plumbing, and heating. We’re opening up the kitchen and living spaces and carving out a second bedroom from a defunct corner. Here is the ‘before’  floorplan:

And here’s what the floorplan looks like after framing:

As far as the design, we’re working with the existing industrial, modern vibe and bringing in a bit of the Grit and Polish aestethic. That means bright whites, timeless appeal, and natural materials. We’ll be keeping as many of the original character-rich elements as possible: concrete floors, tongue-and-grove walls, wood beams and posts, and sloped ceilings. Bella (our intern from the Spring who  graduated and took a full-time job…miss you, Bella!) put together design boards for Naysa’s, and I’m including them below. A couple elements have evolved (and surely more still will), but the overall look and feel is spot on.

What’s Next

I mentioned at the beginning of this post that we’ve been working on the Tacoma Converted Garage for the better part of 5 months now and believe it or not, we’ve accomplished a few things: demo, electrical rough-in and service change, framing, drywall, plumbing rough-in, dining nook makeover, and the original concrete floors were polished. And now we’re to the fun part – putting the place back together! We’ll be bringing you guys along as we wrap up this space over the next few months.

First up: the built-in hood vent that Garrett crafted this weekend (we have a DIY tutorial coming later this week!). Can’t wait to see this unit take shape!

Related Posts

Dining nook picture frame molding how-to // Vintage Industrial dining nook reveal

10 Comments

House Hacking // 3 Reasons to Rent out Your Home for a Weekend

During the One Room Challenge, I mentioned that we are renting out the Farmhouse this summer for a few weekends as a vacation rental.  As the Farmhouse has added bookings, we have scheduled weekends of camping and family visits, which we’re all looking forward to. But when I’ve shared our summer plans with friends, I’ve gotten some questioning glances. So I thought it would be helpful to outline a few of the reasons we like to house hack our primary residence here today.

As long-time followers of the Grit and Polish already know, house hacking (i.e. getting others to pay part or all of your rent/mortgage) is our M.O. We’ve been doing it for 10 years and I truly doubt we’ll ever stop. House hacking has set us on a path to owning 5 homes, retiring at the age of 34, and living a pretty fantastic life all around. Low-fee sites like Airbnb and HomeAway have made renting out your home for a weekend (or longer) easy, and I’m guessing some of you may be considering it too. So today I wanted to share 3 of the reasons we decided to rent out our primary residence for short stays this summer.

One // Get paid to go on vacation.

Let me repeat that: get paid to go on vacation!  Most of us don’t need another reason to take a trip, but if you did, having someone else subsidize your adventure is pretty compelling.  So far we have reserved a campsite on the San Juan Islands and scheduled a longer visit to my sister’s house during summer bookings. We’re all much more excited about those trips than we would be spending another weekend at home. And a couple of winters ago, we did a longer 2 week booking when we lived at the Dexter House. We got to spend that time in the country at my in-laws house, relaxing and having one of my favorite Christmases ever, while earning thousands of dollars. Not too shabby.

Two // Less clutter

It’s easy to let stuff creep into your life. A few extra toy baskets here, a couple cast-off bins of old books there and suddenly you’re making space for things you don’t really have space for. Stuff seems to attract other stuff in my experience.  And it’s a slippery slope that can leave your home feeling cluttered if you’re not careful. For us, the best way to fight the slow creep of stuff is to invite others into our home. There is no better reason to keep your living spaces tidy and clean than inviting others to share those spaces with you. So host a party, invite a house guest, or better yet, rent your home out for a long weekend.

Three // Earn a financial return on your effort

This is a big one for us. We all spend time maintaining our properties (a lot of time if you live on a 3 acre old farm like us) and you probably spend money furnishing and decorating them too. So why not earn some money on all that time and effort? Renting your home out for a weekend or a month essentially turns chores into an investment. And that shift in thinking to a landlord/real-estate-investor perspective can help some (read: my husband) enjoy a home that might otherwise feel a bit like a ball-and-chain.

 

photos of Our Farmhouse // entry / master bedroom (and here) / officeBoys bedroom / master bathroom

Getting your home ready for guests is a whole separate topic that I won’t go into here, but I will say that in the past 4 years of hosting on Airbnb (including 2 of our homes in Seattle on a full-time basis), we’ve only had a handful of finicky, unpleasant guests and even fewer super messy/disrespectful guests. Have you ever rented out your primary residence? Would you ever? We’d love to hear why or how you house hack! Leave a comment and keep the conversation going.

Related Links

Our Farmhouse page and sources // Our story: Early Retirement and Old Houses //

*Disclosure: we use affiliate links.  If you make a purchase through one of our links, we may receive a small commission at no cost to you.  Affiliate links is one of the ways we keep this site running, so thanks for supporting the Grit and Polish!

41 Comments

Our Story // Renovating Old Houses and Early Retirement

The other day I was explaining what it is that Garrett and I do to a total stranger, and it got me thinking, have I ever really explained it here on the blog?  Sure I share all about the houses and our family and the before and after photos of our renovations (and I’ll get back to it next week), but there’s a whole other story in the background.  The tale of why and how we do what we do.  Why we buy old houses.  Why we spend so much time renovating them.  Why we lease them out as rentals.  And why we’ve been working so hard for the better part of a decade.

poshusta_fam-093

family photos by Ryan Flynn

To answer that, let’s rewind to 2008 when our renovation journey began, long before our band of renovation gypsies numbered four.  It was just Garrett and I back when we bought our first house, a 1916 craftsman “fixer” with an unfinished basement, a unique detached cottage/workspace in the backyard, and tons of potential.  In a desirable Seattle neighborhood back then, old and in-need-of-work cost you a whopping $445,000 (that number is now substantially higher…eeech!).

At the time, I had just started my engineering career and Garrett had returned to school to pursue his PhD (which he completed in 2015…biochemistry, the smart guy!) so we planned to live in that house pretty much forever, while we slowly fixed it up, had a couple kids, and worked away at our careers.  But you know what they say about best laid plans…

Well just 8 months after buying our first house, I got laid off from my oh-so-short engineering career, and life went into a tailspin.  With a big mortgage to pay and no job in sight (there weren’t a lot of jobs for newbie structural engineers in the building downturn of 2008 and 2009), I suggested we finish out the basement, rent the main house, and move into our 400sf backyard cottage, which at the time was lacking a kitchen and even a bathroom sink.

I told myself that small-space-living would be an adventure, and Garrett went along with it because he’s a real trooper.  So we rolled up our sleeves and got to work. The only problem was that we didn’t really know that much about renovating.  So we learned as we went and asked for help from pretty much everyone we knew (especially our folks).  Sure, we made some mistakes – like that pink tub…oh goodness why did we buy that pink tub?! – but three months later, we had turned our 2-bedroom, 1-bathroom house into a 4-bedroom, 2-bathroom house.  We got renters in the main house then moved out to the cottage to start that renovation.

Essentially, we were house hacking, before the term actually existed. If you’ve never heard of house-hacking, I like to explain it as getting-someone-else-to-pay-your-mortgage-so-you-can-do-what-you-want-with-your-life.  But more on that in a minute.

poshusta_fam-005poshusta_fam-078

We spent three years in that cottage. During that time I got a job, we cut expenses, we lowered our mortgage payment by refinancing, and we raised the rent in the house. Suddenly we weren’t just living rent free, we were actually making money on the house. Our house-hacking endeavor had turned into actual income and it felt good. We saw this whole other path open up before us and although the destination was a little fuzzy, we called it financial independence.  Our goal became to make it there – to financial independence – by the age of 35.

After those three years in the cottage, we used the money we had saved up and bought a second “fixer” house. And shortly thereafter, a third. We moved into each renovation project and loosely followed the BRRRR model (which is apparently a thing although we had no idea at the time): Buy, Renovate, Rent, Refinance, Repeat.  And although we were saving all along, we had to get creative to find enough cash for down payments and renovations (this is Seattle after all and houses don’t come cheap).  Over the years we’ve utilized traditional financing, a FHA loan refinanced into an 80/20 loan, cash-out refinance, HELOC, personal loans from family, and cash-purchase-turned-delayed-financing. Finding time to renovate our properties was tricky. Garrett was in school and I was working full-time, so we had to renovate on nights and weekends, often turning down social plans to get dusty and bang on walls. Of course, we love old houses and renovating, but we love our friends too.  While the sacrifice has been well worth it, these choices were often hard ones to make.  Once the boys came along, our renovation pace slowed down, but we kept at it. By then, our goal was crystal clear: make enough income from our rentals so that we could “retire” and spend more time with our family and working on our own projects.

poshusta_fam-071poshusta_fam-192

By the time we rang in 2016, we had four houses plus the cottage in Seattle, and we projected enough income from the rentals to bankroll our life (granted, not a lavish life, but a modest, happy life for our family). So when we found our dream home, a farmhouse on 3 acres in our hometown, I quit my 9-to-5 and we moved to the country. Garrett and I were both 34.

Our “retirement” is in it’s infancy, but we are excited for what we have planned. We will still spend a lot of time as landlords and of course as parents, but also plan to dedicate time to outdoor activities, fresh-food cooking, country-dwelling, and renovating any old house we can get our hands on.

poshusta_fam-079

So that’s the story of how this little family house-hacked our way from first-time home buyers to full-time renovators and landlords. How we turned our love of old houses and renovating into income and retirement plans.

I should note that being a landlord is not really retiring.  Nor is being a parent of young children.  These things can be hard with a capital H.  But the first affords us the luxury of having more time to do the second and provides us the lifestyle we want without having to work more than a few hours a week, hence we call it “retirement”.

One other note, I’ve hesitated for a long time on whether or not to get so personal on the blog, especially about a topic as touchy as personal finances.  This is, afterall, a renovation/home blog.  But ultimately I thought about our younger selves, that 27-year-old couple who had just moved into a cramped cottage without a bathroom or kitchen, who had no real income and struggled with the weight of their debt. Those two would have been really excited to hear a story like this. So I hit publish.

poshusta_fam-067poshusta_fam-082

We are really excited for what comes next in our story! Thanks for being a part of it.

Also thanks to Ryan Flynn for these family photos!  He had the patience of a saint and a shutter speed fast enough to catch even the wildest of toddlers 😉

xoxo

-Cathy

p.s. Love all the feedback on the interior of our farmhouse from you guys and over on Instagram. Sounds like there’s plenty of folks out there who wouldn’t paint their millwork, either 😉

p.p.s. I’m absolutely in love with this vintage London apartment.  It’s ethereal and beautiful and so well styled.  Kudos Ms. McAlpine!

p.p.p.s. This kitchen. I loved it when I saw it a year ago, and somehow it’s gotten even better.

Related Posts Plugin for WordPress, Blogger...
32 Comments