Sidra was out to make her parents proud. Having sacrificed so much to give her a better life, Sidra’s parents were the inspiration for her foray into buying an investment property. Her other inspiration? A secret desire to be a contractor. The property Sidra chose was a massive undertaking and wasn’t without its issues. A entire roof re-do, serious electrical problems and some surprise building code upgrades gave her a real taste of what it takes to be in the income property business.
Design Theme: Timeless Trimmings
Purchase Price: $730,000
Realtor Appraisal: $915,000
Increased Property Value: $185,000
Chosen Renovation Option: $80,000 – Open concept 2-story, three bedroom apartment. Estimated rental income $2200.
Alternate Renovation Option: $80,000 – Roommate rental with bedrooms on 1st floor and living/kitchen on 2nd floor. Estimated rental income $2400.
Estimated Monthly Rental Income: $2,500