Flip Attempt – Potential $233K Profit In 4 Months

Crash at vancouvercondo.info 2 Feb 2011 4:19pm
“Here’s an attempted flip:
4842 Victory Street Burnaby MLS #V861597 Sold Sep22/2010 for $655,000 now listed for $888,000. House is a teardown or in need of major renovation. Was an estate sale originally in 2010 I think.”

That’s a potential profit of $233K in 4 months. And if we take into account the forced leverage that comes with RE speculation, calculate at a 10% downpayment, that’s a return of 350%. See why a housing bubble looks so great on the way up? It’s like gambling! It’s like crack cocaine! – vreaa

One response to “Flip Attempt – Potential $233K Profit In 4 Months

  1. $888,000 for a teardown. In other words, LOTS are “worth” almost a million dollars.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s