In response to @Brian Dean
By "harder to get a higher appraisal" I assume you mean harder to qualify for a higher appraisal? Yes, absolutely Canada has pulled in the reins on lending, and qualifying is getting harder and harder. That said, we have been able to get most of the money out of our investments in previous years, our project completed in 2016 is a perfect example, we were able to pull out over 100% of our capital investment. Each deal is different though and it is more related to the specific property and project numbers than anything else - if you're paying more for a property, it stands to reason that there will be less of an upswing in price at refinance. If you're able to save on the renovation costs, conversely there will be more money there assuming the property still appraises high. Our last project, we paid more for the property and more for the renovation, so were able to pull out less cash. Does that make sense? We're on the hunt for our next project though, and are confident that we will be able to find something that will allow us to recover most of our capital investment once again - it's all about finding the property with the right numbers! I should also mention, I have invested in both Canada and the States, and feel it has less to do with what country you're investing in, but more to do with the market you're investing in - numbers here in Victoria would be very different compared to numbers in say a small town up island . . .
