Purchased in 2023
6 Units Purchase
Purchase Price: $1,175,000
Down Payment: $235,000
Original Mortgage: $940,000
Renovations: $116,436
Refinance Value: $1,950,000
New Mortgage: $1,852,500
Minus
Original Mortgage: $940,000
Renovations: $457,650
Carry Cost: $85,048
Closing Costs: $40,900
Original Down Payment: $235,000
Result: ALL CAPITAL OUT + SURPLUS $24,566
Purchased in 2022
15 Units
Purchase Price: $2,882,800
Down Payment: $720,700
Original Mortgage: $2,162,100
Renovations: $1,000,000
Refinance Value: $4,540,000
New Mortgage: $1,852,500
Minus
Original Mortgage: $2,162,100
Renovations: $1,000,000
Carry Cost: $170,253
Closing Costs: $39,020
Original Down Payment: $235,000
Result: -$56,004 left IN deal
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