$200k in equity in 3 years!

[Wade Sikkink]

Just wanted to share some good news we received today.  Three years ago we purchased a 14 unit apartment building with 100% financing (how we did that is a topic for another post).  We're currently in the midst of refinancing the property and just got the appraisal report back.

With the amount of the mortgage we've paid down in three years, and the increased property value from the renovations we've performed, we now have over $200k in equity in the building.  Not bad considering not a dime has come out of our pocket during those three years.  The renovations were completely funded by the property's cash flow.

What a great Christmas present!  Merry Christmas everyone!