Updated over 4 years ago on . Most recent reply
BRRRR 4plex Montreal (South Shore) for motivation
Hello,
It's been a while since i've posted here. I thought i would post an update on a refi we just completed after 2 years on a 4plex in Longueuil. I'm hoping this would motivate someone who needs a little kick to get off the couch on Sunday morning and do something.
Purchase date: Mar 2019
Purchase Price: 565k
DP: 113k
Rehab 25k
Revenue at purchase $42,240
Revenue at Refi $54,780 (29% increase by putting new tenants)
Refi in Feb 2021 at FMV of 791k
Cash out ~150k (New loan of 600k 30 yr AM)
Equity remaining in the property - 191k
Happy Investing!