Scott is best known as the host and executive producer of hgtv canada s long running hit series income property where he s helped hundreds of cash strapped homeowners become landlords by transforming their existing properties into income generators. An income property is a property bought and developed with the intention of earning revenue from it.
Income properties can be residential such as single family homes or multi family properties or they can be commercial properties.
Income property. An income property is purchased or developed to earn income by renting or leasing it out to others or through price appreciation. The series premiered on hgtv canada on september 29 2008 and on january 1 2009 on hgtv in the u s. A strategic home improvement that turns real estate into real income.
With a name like income property investments we don t just aspire to set new standards in the real estate industry. In the event that there is any improvement or betterment to the original property deductions shall be made on the replacement value to reflect such improvement or betterment. In the hgtv series income property homeowners with help from real estate and remodeling expert scott mcgillivray take on home renovations to turn a portion of their house into rentable apartment space.
Owners make money through holding and renting the property while it appreciates then selling it for a profit. The program was a half hour long for the first six seasons and then expanded to an hour long format starting with season 7. But scott s also a family man.
Income property is a canadian home improvement program hosted by scott mcgillivray. Proceeds from salvage sales. Our formula for success is a consistent philosophy of hard work commitment to growth and a genuine concern for our residents guests and associates alike we specialize in multi family apartments hotels office buildings elderly communities and other types of.
The claim amount payable is the replacement value of the same form without depreciation or wear and tear. Income properties may be both commercial and residential.