$80,000 Renovation Brings $1000 Extra Per Month – Episode #62
We are back in the Prime Toronto Beaches with Jerry Greer in this exciting renovation that has been completed! This is a continuation from Episode #53. We introduced another investment strategy in Episode #53, which was High End Furnished Executive Rental Suites. Wow! The finishing touches here will really make a big difference to the Landlord’s tenant profile, monthly cash flow, increase in value, and return on investment. Through buying in the “right” location, renovating to certain standards, and furnishing the suite to accommodate the limited but willing to pay executive tenant profiles, you can make a great Return On Your Investment (ROI). In the end, Jerry Greer decides to go with the “unfurnished rental suite” option versus the “furnished rental suite” option, which was a surprise at first, but after analyzing the numbers it made sense.
There was a lot of help throughout this project by Cindy Wennerstrom from Oro Properties who helped design it, and Stephen Scott from Dovetail Home Inc who was the General Contractor.