Cliff and Thyrza bought this 1950s bungalow in an older suburb. After purchasing the house three years ago, they spent $100k completely renovating the main floor to make it their own. But there is unfinished business in the basement. They originally intended to finish the basement and rent it out, but over time have started to use some of the space. Cliff moved his office to the basement and Thyrza has claimed the laundry room as her own. They are now ready to get back on track with the original plan. The only problem? They can't agree on how it should be renovated. Cliff would like to see two apartments in the basement, whereas Thyrza is not willing to give up her laundry room. Cliff and Thyrza need Income Property help.
Carol purchased this downtown triplex heritage home in the early 90s, for $393k. Since then, she has served as landlord, tenant, and handywoman to this property. In order to maintain her $1300/month mortgage payments, in combination with $25,000 worth of annual expenses, Carol housed foreign language students in various bedrooms throughout the house. Now, with the mortgage paid off and no longer up for a flurry of teenagers in and out, Carol has decided to revamp her dated, incomplete basement to become a self-contained unit. After years of makeshift renos and barebones facelifts, Carol is burnt out, and is unable to take on this task by herself. Carol has drained her savings account keeping this massive property afloat, and is desperate to again begin saving for retirement before it's too late. Carol needs Income Property help.
Nadia & Gino met online five years ago when they were divorced single parents with challenging careers. They married earlier this year but their household income has been cut in half due to lost jobs and a poor economy, and as a result, they're eating up their savings quickly. Gino decided that property might offer a more secure financial future so he bought this duplexed 60s bungalow in small town suburbia and rented out both units. The extra income from this property is essential for them to move forward towards a secure financial future but six months ago the basement tenant moved out and they decided to upgrade the apartment to try and attract a higher rent for the space. To save money Gino took a stab at doing some of the renovations himself - but the place is now gutted and uninhabitable and they've lost months of much needed revenue. They've got limited resources to finish the job and they're stuck wondering what to do next. They need Income Property help.
Diana is a flight attendant and flying solo as a recently single parent to two boys. She'd been living in Costa Rica and has returned to Canada to raise her children. While she was still away she found this 1940s detached brick home and decided it would make a great home to raise her children in. Her parents scouted it, then Diana put in an offer and unexpectedly got it - sight unseen! Her parents have helped finance the purchase by providing a second mortgage. Diana's plan is to pay down the mortgages by creating a basement apartment where she and her boys will live for a year or two and rent out the two story, 3 bedroom home above. When her finances are more stable, she'll move back into the upper unit and rent the basement as a long term 2nd income. For the past two months, she's attempted some of the renovations and hasn't finished any single task except to completely gut what was a finished basement. Diana needs Income Property's help.
Susan bought this property, six years ago. This charming Victorian house suited her needs because it had already been duplexed and she could live comfortably in the one bedroom, second floor unit and could rent the main floor & basement apartment to bring in a second income. Two years ago she met Jeff and he moved in a year later. The main floor tenant moved out 8 months ago and the apartment has been sitting empty ever since. The place was renovated well when it was duplexed 20 years ago but now is in need of updating to meet its rental potential. Susan was collecting $1450/mo and the 8 months of lost income have added up to thousands of dollars. Their dream is buy a new home together and Susan will keep this one as an income property. Susan and Jeff haven't had any time to work on the apartment and they're stuck, knowing it'll be months before they can get to it. They need to renovate and rent it so they can move forward with their property goals. Susan and Jeff need Income Property's help.
Ten years ago Rob and Tricia bought this four bedroom detached house in a suburban town with lots of space to raise a family. As the future comes into focus they realize they need to think about how to pay for that future. An income suite in their under-used basement seems to be the solution. Their city has just changed the rules so income suite are now allowed and legal. The basement has high ceilings, a walk out to the backyard, a kitchen and a bathroom, but that doesn't mean it's ready to rent. Rob's handy but neither one of them has any idea how to convert this into a legal, self-contained apartment. They're hoping that their home will offer the relief and security they need. Rob and Tricia need Income Property's help.
Tiffany and Jamie have been living in Toronto for the past few years and were married last summer. They're an enterprising, ambitious young couple with dreams of interesting careers, and a house that will one day be a place to raise a family and bring in a second income as they go through their career and personal changes. They've just taken possession of a classic 50s bungalow in a leafy Toronto suburb. It fits their bill because it has a huge bright basement that offers income potential. The problem is they have no renovation experience what-so-ever. Tiffany and Jamie need Income Property's help.