Wednesday, 11 January 2012

Income Property - Already Rented

A good show of Income Property was on this week. This one was slightly different as the landlords had already rented out the basement at $850 / month and where just trying to get the unit in move in condition.

The first option was to get the unit up to meet rental code.

The second option was to get the unit to code, plus do the bathroom, kitchen counter top and put in new appliances.

The home owners picked the 2nd option at a cost of $8,500 which was a good choice for them since they found a lot of rot and mold behind the shower when they opened it up.

Thus by spending the money now on the show, they avoided a costly shower fix in a few months!

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