Property Partners

Episode HINPR-509H

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  • April 14, 2014

    8:00 AM e/p

Naomi and Scot were living as a couple in this 5 unit multiplex in a downtown university neighbourhood, when last year, their landlord told them he was selling. This pair of bold twenty-six year olds put together all of their savings and borrowed from family for a down-payment and bought the building for over a million dollars! Not long after that they split up. Their romantic relationship didn't work out but they're still friendly property partners. Their plan was to upgrade the rental units as they become vacant. Naomi and Scot want to spruce up this large but dated two-bedroom apartment - and raise the rent. The problem is, they put most of their money into the downpayment and only have a very small fund to draw from and no experience to guide them with how to spend their meager resources or how to renovate an old property! They need Income Property's help.