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Income Property: Jen & Elana

Episode Theme: Doing it for Mom

Jen and Elana need to command a higher rental price on their vacation home so they can keep it long term and be close to their mom during her retirement.

Design Theme: Elegance in the Outdoors

The Numbers

Purchase Price: $575,000

Realtor Appraisal: $975,000

Increased Property Value: $400,000

Option 1: *CHOSEN* $90,000 – New flooring will be installed throughout and the kitchen will get a facelift. The main bathroom will be totally rebuilt, the ensuite gets an upgrade, and the bedrooms get a refresh. Upstairs gets a new powder room as well a laundry room where secret room currently is. Estimated rent of $1,700/week ($6,800/month).

Option 2: $110,000 -All of option one but layout will get reworked to create a more open plan. Full kitchen gut and rebuild. Estimated rent of $2,000/week ($8,000/month).

Estimated Weekly Income: $2,500 in the high season ($10,00/month).

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