Lost Focus and a Stalled Renovation

Episode HINPR-611H

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  • August 14, 2014

    7:30 AM e/p

Andrew is a single guy working full-time and going to school part-time to complete his Masters degree. When he graduates in a month, he'll have to begin paying back his $80,000 student loan. That's not the only debt he's got to handle ? he bought a duplex from his grandparents 2 years ago. He rented the upper unit and moved into the main floor apartment which he started to renovate with an eye to recapturing the home's historic roots. When the upstairs tenant moved out a year ago he decided to convert the house back into a single family home and get room-mates to help cover the mortgage because he still needs the rental income. The entire house is now in various stages of renovation because he tried to do it all himself with help from family and friends to cut costs. He hasn't completed a single area because he's too busy with work and school. Now his big student loan is due on top of the mortgage and he urgently needs the extra income from renters that he was banking on - but the house is un-rentable! Andrew needs Income Property's help.