We’ve just completed the renovations and refinance of our 5th purchase and are thrilled with the results. With the refinance we were able to secure 80% LTV of appraised amount with a readvanceable HELOC attached to the property. This powerful tool will allow us to recapture the principal portion of our payments each month to use for subsequent aquistions! Here are the details: Location: Edmonton area Purchase Price: $250,000 Renovations & Holding Costs: $44,057 Legal, Inspections, Refinance Fees: $2,500 All In: $296,557 Refinance amount: $420,000 Created Equity: ($420,000 - $296,557) = $123,443 Returned Cash: ($420,000 *.80) – ($296,557) = $39,443 In addition to adding $123,443 to our net worth we were able to get our ALL of our initial investment PLUS have $39,443 towards our next purchase! Time to get to work!