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Income Property: Edray & Jessica

Episode Theme: First Comes Love, Then a Reno

Edray and Jessica need to turn their vacation rental from a financial burden into a desirable getaway so they can make some money and finally plan their dream wedding.

Design Theme: Good Time Getaway 

The Numbers

Purchase Price: $320,000

Realtor Appraisal: $475,000

Increased Property Value: $155,000

Option 1*CHOSEN* $60,000 – The ground floor will get new floors in common areas, the main bathroom gets a makeover, and each bedroom gets a refresh. Upstairs will get all new floors throughout, the kitchen will get an overhaul, and the living room will get a makeover. Estimated rent of $3,000/week ($12,000/month).

Option 2: $90,000 -All of option one plus gut and redo the other two bathrooms, and new floors in all the bedrooms. Plus the driveway will be paved to up the curb appeal. Estimated rent of $4,000/week ($16,000/month).

Estimated Weekly Income: $3,500 in the high season ($14,000/month).

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