How to Turn a Basement into $50k/Year Rental Income. Broker, builder, thinker… Brokerage client wants to rent out their large historic 3 family house in Brooklyn. The house is a mess and they get tenants that further destroy the house. – I suggested upgrading the House - and upgrade your tenants. While working on floor plans I discover another opportunity, to turn the cellar into an apartment. Legit, two doors and three windows … sunlight and egress makes them another $50k per year, or the owner can use it when they visit nyc. I like that. Now the tenants never know when the owner is there and perhaps respect the property more. #realestateinvesting #propertyrenovation #househacking #realestate #passiveincome