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Income Property: Shannon & Noah

Episode Theme: Chalet Charm

Shannon and Noah invested in a vacation property that was bigger than they bargained for. Now they need Scott’s help to figure out how to monetize it so they don’t lose it.

Design Theme: Lofty Living

The Numbers

Purchase Price: $802,000

Realtor Appraisal: $850,000

Increased Property Value: $48,000

Option 1*CHOSEN* $40,000 -All new floors throughout, gut and rebuild the kitchen and bathrooms, living room and bedrooms get a refresh, new staircase, and turn the loft into a master bedroom suite. Estimated rent of $1,500/week ($6,000/month).

Option 2: $75,000 -All of option one plus make it an all-season rental by installing new windows and insulation throughout, upgrading the ceilings, and building a deck and stairs off the chalet. Estimated rent of $1,700/week ($6,800/month).

Estimated Weekly Income: $1,600 in the high season ($6,400/month).

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