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5th Property at 25 Years Old!

T

TyG

Inspired Forum Member
Registered
Joined
Oct 20, 2015
Messages
60
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!
 
Hi Tyler, Who helped you to find/buy
property?I am looking for Realtor in Edmonton Area.
 
Paresh said:
Hi Tyler, Who helped you to find/buy
property?I am looking for Realtor in Edmonton Area.
Click to expand...
Hi Paresh,

I didn't use a realtor to locate this property, I found it myself. However I can PM you a few names if you'd like?
 
Wow! Great work and beautiful renovations Tyler! It's so satisfying to source out these hidden gems, especially when it can be a lucrative venture. Congratulations!
 
We have an investors specific shared office here in Edmonton, I thought you might need a space like this given your massive action in real estate so far that I've seen.

I am also General contractor here in Edmonton, very investor friendly , financing available and creative options for pricing.
Hope to hear back soon

780.288.9638
[email protected]
 
I think you are quickly discovering the key to expanding your portfolio. In my mind, it is velocity of money. You need to put your money in, get your money out with 'created cash' and move to the next deal. It starts growing like a tree when you start creating down payment money and cash flow. Well done. Don't forget to submit your 17-3 form and get some recognition, Trevis
 
Exactly! We did just that...just took possession on another property and are putting a basement suite in it...day #3 of demo and things are progressing nicely!
 
Hi Tyler

Congratulations .

This is Abdul From Regina and I would like to connect with you to buy the undervalue properties in Edmonton Area .

Can you please give your number or call me on 3065013731

Regards
Abdul
 
Tyler - Picket Fence Properties said:
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!
Click to expand...

Hey that's very amazing you did good job Tyler. Best of luck keep it up.
 
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