Precious Price is a dynamic speaker and real estate entrepreneur who made a smart move in 2019.
She bought a property in Atlanta and built a tiny house in the backyard, kickstarting her journey to financial freedom.
This tiny home is less than 300 sq. ft., but became more than just a living space for Precious.
It was a strategic step towards living rent and mortgage-free.
She shared with CNBC Make It, “This tiny house is definitely like a baby to me.”
Her unique living situation caught the public’s eye, featured on CNBC Make It’s YouTube channel, and amassed over 800,000 views in just days.
This exposure boosted her career, enabling her to coach others in real estate and launch her company, LANDRIFT.
The idea for the tiny house sparked when Precious felt her three-bedroom house was too large.
She started renting out her main house while working and traveling as a consultant.
The construction of her tiny home began in October 2020.
To fund this, Precious used earnings from Airbnb rentals, $20,000 from credit cards, and cashed out $8,500 in stocks from her day job.
While her tiny home was under construction, Precious rented a room in her neighbor’s house.
The initial budget for the project was $25,000, but it eventually totaled $35,836, completed in March 2021.
Despite some setbacks with construction and unused materials, Precious adapted by renting out the tiny home on Airbnb.
In two years, she made about $32,000, which later led her to move into the tiny house herself.
Precious describes her tiny home as a standalone studio apartment.
It’s a cozy space with a living room, dining area, and kitchen- that’s her favorite part.
The design maximizes space with windows, mirrors, and clever storage solutions.
The compact layout includes a bathroom with a full-sized shower behind a sliding barn door, a small office space, and a loft sleeping area with just enough room to relax.
Outside, a spacious backyard with a fire pit is shared with the tenants of her larger house.
By living in her tiny house and renting out the larger property, Precious covers her mortgage and earns extra income.
This savvy approach has set her up for her next project – building another structure on her property.
Learn more about Precious’s brilliant approach to land and homeownership below!
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