BRRRR 4plex Montreal (South Shore) for motivation

[Mazen Al Ashkar]

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!