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Not all conversion projects follow the same process or even sometimes logic.
This is one of our recent conversion projects where we went contrary to what others might tell you. The danger of a short-term decision or one made on trying to maximize space is that it does not often pay off in the long run.
If you have space renters love they are more likely to pay more, look after it better and stay longer = long-term cashflow.
That is why we decided 2 bedrooms in the basement made more sense than trying to squeeze in 3.
Watch the video to see what we mean as Real Estate Investor and former contractor Chris Shebib takes you on a walk-through of a recent real estate investment property conversion. Chris points out the key elements that drove the decision to have 2 bedrooms and not 3 in the basement.
00:40 Introduction
01:12 Basement Conversion Progress
01:17 Living/Kitchen
01:23 Oversized Egress Window
01:31 Master bedroom
01:43 Oversized bathroom
01:50 2nd bedroom
02.03 Furnace
02:09 On-Demand hot water tank
02.14 Basement main beam
02:29 Upstairs Conversion Progress
02.39 Reduced size kitchen window
02:50 Kitchen
02:55 Basement stairway
03.02 Main beam
03.15 Open living/kitchen area
03:22 Bedroom 1
03:30 Bedroom 2
03:38 Bedroom 3
03:42 Bathroom
04:00 Outside
04:06 Removed swimming pool
04:20 Refacing front of house stonework
04.28 New shingles
04.47 Key points for this conversion and renovation
04:58 Should it be a 2 or 3-bedroom downstairs?
05.27 Meet Chris
5 Part Series - Converting a Large Bungalow into a 4/4 Duplex https://www.youtube.com/playlist?list=PLliqcous2x9QRUXcGPe8NGnj_uUQ5blcw
Start to Finish - 3+3 Bedroom Conversion - Single Family Home Turned To Legal 2-Unit Dwelling
https://youtu.be/FKTaxjTmOnQ
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Thank you for taking the time to watch. If you feel you got some benefit from this video, please like, comment and share it so others can get to access the knowledge. If you want to learn more about how I can help you with your own real estate investing goals, visit my website - https://BlueOrchardPropertyGroup.com - where you will find more resources on various options for real estate investing.
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Disclaimer and Waiver ā Blue Orchard Property Group/ Chris Shebib is not an investment advisor and is not licensed to sell securities. None of the information provided is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, of any company, security, fund, or other offering. The information should not be relied upon for purposes of transacting securities or other investments. Your use of the information contained herein is at your own risk. The content is provided āas isā and without warranties, either expressed or implied. ______________________________________________
About Chris Shebib & Blue Orchard Property Group
Chris Shebib is a realtor, speaker, coach and award-winning real estate investor. Heās been in real estate for 20+ years with a proven track record in both Canada and the United States.
He has managed hundreds of thousands of dollars of renovation and contracting projects in Canada and the US, bought and sold homes, helped generate returns on investment properties, received a National Top Investor Award and been featured in numerous national and real estate media.
Bottom line he has done a lot of the heavy lifting for you. Having been involved in all aspects of real estate, trying, sometimes failing, learning and developing the right formula so you benefit from all of that knowledge and realise your own dreams and implement your own wealth plan.
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