Legal Suite Construction
improve cashflow & increase property value!
Most seasoned real estate investors with a portfolio of residential properties know, that the best way to increase cashflow is with the addition of a secondary legal suite. The addition of a secondary suite, typically a basement apartment, leads to increased property value, the ability to house two tenants, and increased cashflow. Not to mention the increased security of having two tenants per property, which means even if you have one vacancy, the remaining Tennant will continue to cover a good portion of your operating costs, and with the increased property values that we are experiencing its the only way to cash flow your investment.
Get Approved for higher mortgage
With the the unprecedented rate of appreciation that we are facing now it's becoming more and more difficulty for first time buyers. Adding a legal secondary suite will increase property value resulting in a much higher appraisal and the the rental income will be taken into consideration when applying for the mortgage Loan. This strategy will in turn allow some first time buyers to get into the market or help them buy the home of their dreams that they would otherwise not qualify for.
Doing It Right!
When choosing a contractor for your legal income suite project make sure they are experienced and knowledgeable in this field. This is not your typical basement renovation. There are many rules, regulations and bylaws that must be met such as Fire codes, Plumbing codes, square footage minimums and maximums, natural lighting, egress windows for emergency exit and zoning just to name a few. With primoReno we work with a team that will do all the design work, drawings, apply for all permits and deal with the city. You don't need to worry about a thing, just enjoy the benefit's of your legal income suite when we are done.
Benefits of adding a Legal Suite
- Increased Cashflow
- Increased Investment Security
- Increased overall property value
- Reduced operating cost per Tennant
- Simplified property management
- Easier mortgage approval
“As long as you have more cash flowing in than flowing out,
your investment is a good investment.”
- Robert Kiyosaki
Why Primo Investment Properties?
We are investors too and wouldn't do anything that we would not do for ourselves. We'll include you every step of the way. Starting with the initial planning and consultation stage, we'll continue by presenting you with an accurate estimate that will include every item line by line. We believe in full transparency right from the start, no surprises, and every estimate includes allowances for unknowns and in a lot of cases the final project is completed for less than the initial estimate, and our clients love us for it.
The Primo Investment Properties Difference
We're not your typical contractor. We're an "investor centric" improvement company.
Everything we do has the investor in mind. Why? Because we're investors too. We want to make sure everything we do results in measurable ROI for you, and ends with a phone call telling us how much more money your investment is making you, and that you're ready to renovate the next property!
If you're looking to add a legal suite, we want to hear from you!
Tell us a little bit about what your planning to do using the form below, and we'll let you know how we can help. We'll also offer you some free advice on adding a second suite to make sure that you're headed in the right direction.