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I just finished a great read –The Ultimate Wealth Strategy by Jeff Woods, Quentin D’Souza and Andrew Brennan.

It goes into detail about how to recycle most, if not all, of a downpayment to purchase multiple properties.

The idea is to purchase under market, fix it up, refinance to get back as much investment capital back as possible, then rent long term.

The main difference from the traditional buy-and-hold business model is to target properties that are significantly under market value and increase the value with renovations or change of use(for example add a basement suite).

This book is a good read for those with at least one investment property because the concepts and strategies discussed are advanced.

The buy-fix-refinance-rent strategy is basically what my current project is.

I don’t have the final numbers yet(waiting on the appraiser), but I have lots of interest in the basement suite at $1333/mo.

If you are interested in what the place looks like now, take a peak.

Until next time,

Stay S.A.F.E.