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Income Property: Astrid & Sheldon

Episode Theme: Fishing Dreams, Rental Reality

​ After an unexpected health crisis, Astrid and Sheldon need to renovate and rent their vacation property in order to make their cottage dream a reality. ​Astrid’s recent stroke was scary and eye­opening. She doesn’t want to park her dreams; she wants to make them a reality right now. This cottage is the first step towards her and Sheldon’s newfound “no time like the present” attitude.

Design Theme: Classic Cottage

The Numbers

Purchase Price: $269,000

Realtor Appraisal: $360,000

Increased Property Value: $91,000

Option 1: $45,000 – Total cosmetic makeover with new flooring throughout, plus full kitchen and bath remodels.  Estimated rent of $1200/week in the high season ($4800/month).

Option 2 *CHOSEN*: $55,000 – Everything option one has to offer plus a new, large deck, and exterior paint job. Estimated rent of $1400/week in the high season ($5600/month).

Estimated Weekly Income: $1,700 in the high season ($6800/month).

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