Welcome to the Episode Guides! Check out your favorite episodes, complete with Source Guides, to help with your design and renovation planning.

Income Property: Dave & Lucia

For Dave and Lucia, finding a great house with great income potential was only part of the equation. The other part? Finding that house in close proximity to Lucia’s family. For Dave, it was about buying the first building block in their real estate empire. Lucia was making decisions based on their family’s future, while Dave was thinking about their financial future. In the end, family won out, so my job was to make sure Dave’s vision was achieved as well. With a wedding on the horizon, we had to work fast. Foundation and electrical problems threatened to ruin the honeymoon, but I was there to make sure they lived happily ever after.

Design Theme: Boutique Hotel Hidewaway

The Numbers

THE NUMBERS

Purchase Price:          $580,000

Realtor Appraisal:          $710,000

Increased Property Value:          $130,000

Chosen Renovation Option: $65,000 – Large two bedroom apartment with open concept layout. Estimated rental income $1250.

Alternate Renovation Option: $55,000 – Two bedroom apartment. Estimated rental income $1100.

Estimated Monthly Rental Income: $1,400

More to Explore...

Renovation Health Check: Mold and Air Quality

Mold can be a real problem in basements so it’s important to stop it before it starts. In any renovation project, and particularly basement, kitchen and bathroom renovations, you need to take... Read More »

How to Create a Renovation Budget

A large number of people spend more than they plan during a renovation. Sometimes it’s because of unexpected problems that come up, sometimes it’s because someone changes their mind about what they... Read More »

Know Your Limits: DIY vs Contractor

It’s a very fine line between what can be considered a DIY project and what requires a professional contractor – and the answer varies depending on the person. I’ve seen some people... Read More »