Ep 5. Susan & Jeff
- May 30, 2012
Susan and Jeff are a couple who are looking to transform their unfinished basement into a stylish living space that could also generate rental income. They have big plans but limited budget, and are hoping to get some professional help to realize their vision.
In this episode of Income Property, host Scott McGillivray meets with Susan and Jeff to assess their space and discuss their plans. He points out areas of concern, such as low ceilings and small windows, but also sees a lot of potential in the space.
Scott proposes a plan to convert the basement into a 1-bedroom apartment, complete with a kitchen, living room, bathroom, and separate entrance. He explains how he can maximize the space by using smart design strategies and affordable materials.
Next, Scott brings in his team of skilled contractors to begin the renovation process. They start by framing the walls, installing insulation, and putting up drywall. Susan and Jeff are amazed at how quickly the space is coming together.
Once the basic structure is in place, Scott moves on to the finishing touches. He installs new floors, paints the walls, and adds stylish lighting fixtures. He also shows Susan and Jeff some clever storage solutions that will help maximize the space and keep clutter at bay.
As the renovation nears completion, Scott takes Susan and Jeff on a tour of their new rental unit. They are blown away by the transformation and can't believe that this beautiful space was once an empty basement. Scott also explains how they can market the unit and attract the right tenants.
Finally, it's time for the big reveal. Scott shows Susan and Jeff how their new rental unit is fully furnished and ready to be rented out. They are thrilled with the final result and can't wait to start generating income from their investment.
Overall, this episode of Income Property showcases how even a small, unfinished basement can be transformed into a stylish and profitable rental unit with the help of a skilled team and smart design strategies. Susan and Jeff's journey is both inspiring and informative, demonstrating the power of renovating for rental income.
