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Income Property: Allan & Nasreen

Allan and Nasreen were a unique couple with a unique vision for their income property. This home had to check a lot of boxes: not only did it have to be a place for Allan and Nasreen to live, but it also had to function as a reiki studio for Nasreen’s new business. It also had to serve as a place to house international reiki students coming to Canada to study. As first time homeowners and first time business owners, Allan and Nasreen had a lot on their plate. After carefully choosing the perfect property, demolition of the space revealed one of the worst carpenter ant infestations we’ve ever seen and a mechanical room layout issue meant changing the plumbing plans. My job was to help bring the positive energy back to Allan and Nasreen’s income property.

Design Theme: Zen Retreat

The Numbers

THE NUMBERS

Purchase Price: $500,000

Realtor Appraisal: $600,000

Increased Property Value: $100,000

Chosen Renovation Option: $75,000 – Two bedroom apartment with convertible wall for reiki space and spa bathroom. Estimated rental income $1100.

Alternate Renovation Option: $65,000 – One bedroom apartment with spa bath. Estimated rental income $900.

Estimated Monthly Rental Income: $1,200

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