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Zack has a two-bedroom house with a huge garage. He is paying $1,500 for his monthly mortgage payment. Since he doesnt have a car, he
Zack has a two-bedroom house with a huge garage. He is paying $1,500 for his monthly mortgage payment. Since he doesnt have a car, he is considering to remodel the huge garage, turn it into a master suite, and rent it on Airbnb. The remodeling cost is estimated to be $10,000 and he believes he could make $500 a month for the next five years by renting the suite on Airbnb. Assuming a 5% interest rate, is remodeling the garage a good idea?
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