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Couple renovates and flips shed for over $200k in profit
It's kind of ingenious, really.
D.G. Sciortino
08.08.22

Georgia couple Nick and Megan Lucido found themselves in a mountain of debt trying to “keep up with the Jonseses.

But they weren’t going to let that debt defeat them.

They instead got a little strategic and paid off $82,000 worth of debt by moving into a trailer. They then bought a Home Depot shed, renovated it, and sold for a profit to buy a new land to build a brand new house.

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A post shared by Nick Lucido (@nlucido)

First, the family sold their 2,000 sq. ft. house, cars, and everything else they had. At this point, they were able to pay off some debt.

With the proceeds, they also bought an 8-acre piece of property for $40,000 in the mountains of northern Georgia where they began building a new dream home.

Then they had to move into a camper with their newborn son. That kind of living is not for the faint of heart but they were able to pay off $82,000 worth of debt in the process.

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A post shared by Nick Lucido (@nlucido)

The couple eventually got sick of living in the camper while their house was being built so they decided to buy and renovate a $27,000 shed from Home Depot in 2019 and turn it into a tiny house.

They put the shed on their new mountainside property.

“It was just a shell,” Megan Lucido said.

nlucido - Instagram
Source:
nlucido - Instagram

They ended up spending about $60,000 turning the shed into a two-story 860-square-foot home with working plumbing, one bedroom, and a deck.

Nick Lucido had renovated the family’s former home and acted as the general contractor based on what he learned from YouTube videos.

So he just figured that he would do it all over again and save himself on construction and permit costs.

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A post shared by Nick Lucido (@nlucido)

“We bought our code book, we met with the local code enforcement, we did everything that needed to be done to convert that into a home,” Nick Lucido said. “It was very radical and extreme but we wouldn’t have it any other way.”

CBS News - YouTube
Source:
CBS News - YouTube

The couple originally planned to live in the shed until their new house was built on the same property.

However, housing prices skyrocketed because of the pandemic so they decided to sell since they knew they could make a profit.

“I think it was an ideal space and with the market the way it was at the time, people were escaping Atlanta and the metro area and people wanted a little privacy and seclusion and I think that property delivered a lot,” Nick said.

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A post shared by Nick Lucido (@nlucido)

They ended up selling the shed for $312,000 and made a $225,000 profit. They used those proceed to build a brand new house and another piece of land.

They moved into an apartment while that house was being finished.

“The ability to pay off everything, move into a camper, and literally be debt-free was most the freeing experience that I think anyone can ever experience,” Nick Lucido said, according to Daily Mail.

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A post shared by Nick Lucido (@nlucido)

The couple documented their story about getting out of debt on social media where it ended up going viral.

“There’s so much to unpack in this story, and I think our story is not unique in the sense that people are hurting. People are burdened by debt and the everyday weight of life,” said Nick Lucido.

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A post shared by Nick Lucido (@nlucido)

“So, I think our debt story, how we were probably one of the very, very few to sell pretty much everything we own – including the furniture, I mean, we sold everything – I think there’s a little inspiration there that there’s light at the end of the path.”

Learn more about the Lucidos story in the video below.

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By D.G. Sciortino
hi@sbly.com
D.G. is a contributing writer in Shareably. She's based in Connecticut and can be reached at hi@shareably.net.
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