What do you want to Know about Turning your home into an Income Property

[BrianPersaud]

Hi Folks,

Tomorrow the Star from HGTV`s Hit show Scott McGillivray will be on. What are some of your burning questions to ask him. I`ll ask him directly on a rapid fire Q&A tomorrow Night.


Release:


Tune into Rogers TV`s Inside Toronto Real Estate on Wednesday, November 3rd at 7:00 PM as we teach you how to turn your home into an Income Property

Host Brian Persaud will lead a discussion with HGTV`s Star of Income Property Scott McGillivray, and Legal expert Mark Weisleder.

During the show, we will show homeowners how to become a landlord and legally turn your property into a cash cow.

Viewers are encouraged to call 416.446 7090 or email [email protected] and ask the panel questions

Each week Inside Toronto Real Estate takes a look at the Toronto Real Estate market, mortgages, property values, legal issues and everything you need to know before and after you sign on the dotted line of your home purchase. Each week, host Brian Persaud talks with industry experts to help potential buyers fulfill their dream of owning a home or condo.

Inside Toronto Real Estate airs Wednesdays at 7:00 PM only on Rogers TV ( Cable 10 in Toronto and Cable 63 in Scarborough) and repeats Thursdays at 12 PM and 2p. For complete broadcast details, please visit http://www.rogerstv.com/page.aspx?lid=12&a...16&sid=3213

 

[jarrettvaughan]

Hi Brian,

Can your show be downloaded as a podcast or watched streaming online? I can not find it anywhere.



QUOTE (BrianPersaud @ Nov 2 2010, 07:27 AM) Hi Folks,

Tomorrow the Star from HGTV`s Hit show Scott McGillivray will be on. What are some of your burning questions to ask him. I`ll ask him directly on a rapid fire Q&A tomorrow Night.


Release:


Tune into Rogers TV`s Inside Toronto Real Estate on Wednesday, November 3rd at 7:00 PM as we teach you how to turn your home into an Income Property

Host Brian Persaud will lead a discussion with HGTV`s Star of Income Property Scott McGillivray, and Legal expert Mark Weisleder.

During the show, we will show homeowners how to become a landlord and legally turn your property into a cash cow.

Viewers are encouraged to call 416.446 7090 or email [email protected] and ask the panel questions

Each week Inside Toronto Real Estate takes a look at the Toronto Real Estate market, mortgages, property values, legal issues and everything you need to know before and after you sign on the dotted line of your home purchase. Each week, host Brian Persaud talks with industry experts to help potential buyers fulfill their dream of owning a home or condo.

Inside Toronto Real Estate airs Wednesdays at 7:00 PM only on Rogers TV ( Cable 10 in Toronto and Cable 63 in Scarborough) and repeats Thursdays at 12 PM and 2p. For complete broadcast details, please visit http://www.rogerstv.com/page.aspx?lid=12&a...16&sid=3213

 

[housingrental]

No. If you don`t live in Toronto you can`t watch.
QUOTE (jarrettvaughan @ Nov 2 2010, 09:59 AM) Hi Brian,

Can your show be downloaded as a podcast or watched streaming online? I can not find it anywhere.

 

[housingrental]

Hi Brian
Ask him if he has any special recommendations for renting to university students

 

[BrianPersaud]

QUOTE (housingrental @ Nov 2 2010, 11:15 AM) Hi Brian
Ask him if he has any special recommendations for renting to university students


Great question, I will Adam

 

[CarrieKoch]

Good job Brian ! It was awesome seeing you speak at the REIN meeting...I just wish we could watch your show up here in Barrie.

 

[BrianPersaud]

QUOTE (CarrieKoch @ Nov 2 2010, 12:45 PM) Good job Brian ! It was awesome seeing you speak at the REIN meeting...I just wish we could watch your show up here in Barrie.

Thanks Carrie, its a challenge dealing with the Network. Ever since the CRTC issue they`ve been really protective of content...

 

[kfort]

best upgrades to increase rent. say top three or so. and approximately what each will allow for an increase.

 

[terri]

Hi Brain,

YES, I have 2 questions for him:

I watch "income property" quite regularly and I`m always a bit surprised that he never seems to have problems with legality of suites. Okay, I`m not that surprised with the basement apts or secondarly suited homes, but I`ve seen 2 episodes where he`s renovated an apt in a 3 unit home and there`s not been problems with zoning/building permits. One he even stated at the beginning of the show that the apts weren`t legal, then at the end of the show that the apts were now legal. How did he do that? I buy legal non conforming 3 unit dwellings in Toronto and I know that renovating/getting permits on these properties is not as easy as single family with secondary suites, the building code is different and not all areas of the city are zoned for 3 apts. I looked at one house for sale that the owner had as a 3 unit dwelling for over a decade, applied for a deck permit and was told they had to remove 2 of the 3 kitchens because the house was listed as single family and zoning only allowed for a maximum of 2. I looked at another property that had 3 units, was listed as single family and had an open permit that was over a decade old that the owner wouldn`t close because he didn`t want an inspector coming out.

So, question #1 for Scott is: has he come across properties where the suites had to be removed because the building didn`t conform with zoning by-laws and why does he not deal with this on the show. I think that it`s really important, especially for a first time buyer to be aware that just because they buy something with 1 or 2 rental suites, doesn`t mean they can keep them. I personally would love to see the process of applying to have the zoning changed, or at the very least making people aware to check status before they buy, or know the importance of working with a realtor who specializes in income properties and knows what to look for.

Question #2 for Scott: staging the apt to rent. Is this just something that he does for the show or does he really stage apts for rent all the time? How much does he spend? Does he use a staging company? which one?

I love income property. It`s one of my favorite HGTV shows and I look forward to watching Inside Toronto Real Estate tonight. Thanks Brain.

-Terri

 

[housingrental]

One more:
Are the costs mentioned on the show for materials and subtrades only?

 

[GaryMcGowan]

Tell the him the owners of the home in Newmarket are pleased with the outcome and experience. The show was there last year and it aired a couple of months ago. This was the first time the show did an existing apartment and updated it! The owners where already exposed to being Landlords and found a great tenant with ease after the show!

 

[BrianPersaud]

QUOTE (housingrental @ Nov 3 2010, 11:33 AM) One more:
Are the costs mentioned on the show for materials and subtrades only?

Terri and Adam...I know you guys can`t watch it. You should call in at 416.446.7090 at 7p. I`ll make sure the screeners take your call...and I`ll ensure they will call you back to avoid long distance charges