Ep 3. Jeff & Kirsti

Jeff and Kirsti are a newly married couple who are looking to start their life together by investing in a property. They meet with Scott McGillivray, the real estate expert and host of Income Property, to get his advice on how they can generate income by renovating a basement apartment in their home. With Scott's guidance, they hope to make renovations that will not only increase the value of their property but also provide them with rental income.

As Scott surveys their home, he discovers that there is a large amount of unused space in the basement that can be easily converted into a rental apartment. He calculates that with a renovation budget of $40,000, Jeff and Kirsti could create a beautiful apartment that would rent for $1200 a month. This additional income would not only help pay off their mortgage but also provide them with financial stability.

The couple is excited about the possibility of renovating their basement and creating a rental apartment. They describe their style as rustic but modern and want to create a space that feels cozy and welcoming. Scott suggests that they use reclaimed wood as an accent in the apartment to create that rustic look they are going for. He also suggests installing modern amenities, such as stainless steel appliances, to appeal to potential renters.

As the renovation begins, Jeff and Kirsti are put to work. They help to tear down drywall, install new plumbing, and even lay the flooring. Scott supervises the project, making sure that everything is done properly. There are a few setbacks along the way, such as discovering a leak in the foundation, but Scott and the crew are able to overcome these challenges and continue with the renovation.

Soon, the apartment starts to take shape. The walls are painted in a light color, and the reclaimed wood accents are installed. The kitchen is complete with all new stainless steel appliances, a large sink, and plenty of storage space. The bathroom is modern and sleek, with a glass-enclosed shower and new fixtures. The living area features a comfortable sofa and a television mounted on the wall.

The finishing touches are added, such as furniture and decor, and the apartment is ready to be shown to potential renters. Jeff and Kirsti are thrilled with the final product and think that it will be a hit with renters. Scott calculates that with the apartment renting for $1200 a month, the couple will make back their renovation investment in just over three years. This is great news for Jeff and Kirsti, who are excited about the financial stability that this rental income will provide.

In the end, Jeff and Kirsti are grateful for Scott's guidance throughout the renovation process. Scott helped them to realize the potential of their unused basement space and gave them the confidence to take on this renovation project. They are excited to begin this new chapter in their lives with the financial stability that their rental income will bring.