5th Property at 25 Years Old!

Tyler - Picket Fence Properties

Tyler - Picket Fence Properties

Inspired Forum Member
Registered
#1
Oct 20, 2015
60
35
18
Edmonton
#1
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!
 
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M

Marnie

Frequent Forum Member
Staff member
REIN Member
#12
Oct 6, 2016
354
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#12
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!
 
Caleb West

Caleb West

Multi Family Commercial|Collaborative Office|
Registered
#13
Feb 7, 2017
122
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28
#13
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]
 
trevismcconaghy

trevismcconaghy

Trevis McConaghy, REIA
REIN Member
#14
Nov 11, 2012
71
72
18
47
Melfort, Sask
#14
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
 
Likes: Marnie and Tyler - Picket Fence Properties
Abdul12604

Abdul12604

New Forum Member
Registered
#17
Oct 6, 2017
8
2
3
#17
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
 
Likes: Stewart 5876
L

lendmorefinancial

New Forum Member
Registered
#20
Aug 1, 2018
11
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3
30
Toronto
lendmorefinancial.com
#20
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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