Looking for an inexpensive but cool bed, with built-in side table and plenty of storage? Look no further.

Here's an easy way to turn a bookcase into a bed. No tools required. That's right: no drill, no hammer, no nails -- just paint.

What you'll need:

A sturdy bookcase. Ideally, this should be at least one foot longer (taller) than your mattress, so you can have a built-in bedside table. You can repurpose a bookcase you already own, or find a cheap one on Craigslist. Last time I checked, there were dozens. Or, if you're feeling really crafty, you can make one yourself. There are lots of Instructables that can show you how to make a bookcase cheaply and easily.

A can of paint. Whatever color suits your fancy.

One piece of plywood that fits over the bookcase, cut lengthwise into two planks.

Step 1: Paint Your Bookcase & Panels

Paint the outside of your bookcase. Ditto for the two panels that will become the platform for your mattress.

Step 2: Place the Bookcase on the Floor

Step 3: Place the Panels on Top

Step 4: Admire the Nifty Storage Space

All you need to do to get to the hidden storage compartment is to lift one of the panels and prop it against the wall. If you were feeling really ambitious you could hinge the two panels together, but I used this bed for four years without needing to do so. By the way, the panels do not slip out of place when you are using the bed, which is why you don't need to nail them down.

Step 5: Add Mattress and You're Done!

Step 6: Nifty Extras

Your bed has three nifty features:

1) Without a headboard or typical bed frame, it doesn't look like a bed, so you can easily use it as a sofa, by throwing some extra pillows along the wall.

2) The platform extends beyond the mattress, so you have a spot for books and drinks, whether you are in sofa or bed mode.

3) The storage under the bed is easy to get to. Just flip the mattress up against the wall and lift one of the platform panels. Voilá!

Sweet dreams.