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

Income Property: Rodrigo & Ana

High stakes? Rodrigo and Ana had them. Not only was this investment property funded by the retirement savings of Ana’s parents, but the couple needed the income to fund opening an orphanage in Rodrigo’s native Ecuador. They needed cash flow and they needed it quickly. Torn between locations, the prime downtown neighbourhood won out in the end.

The house they picked, well, it needed some work. A lot of work. But their choice of option 2 – a furnished executive rental – while a big investment, was the best way to get them closer to their goal. Executive rentals have to scream “high end”, but we found some smart ways to get the luxury look for a fraction of the cost.

Design Theme: High Style

The Numbers

Purchase Price: $505,000

Realtor Appraisal: $650,000

Increased Property Value: $145,000

Chosen Renovation Option: $100,000 – Gut everything and create executive rental with new open concept and high end upgrades. Estimated rental income $3000.

Alternate Renovation Option: $85,000 – Cosmetic upgrade including new kitchen, new flooring, and reconfigured bathroom. Estimated rental income $2650.

Estimated Monthly Rental Income: $3,000

More to Explore...

Mortgage Terminology 101

Real estate terminology can be confusing – particularly when you’re buying your first home – and one of the things people seem to get the most confused about is mortgages. It’s understandable.... Read More »

5 Ways to Get Your Kids Excited about Moving

You’d think that for someone like me, moving into a new home would be a breeze. But for all the years of renovating, building and helping people move, there’s one thing I... Read More »

Scott McGillivray’s Penny Floor

If you watched Moving the McGillivrays, the HGTV Canada series about my adventures building my dream home, you know that when I built my house I put a lot of special, personal... Read More »