How Flipping a house can make you instantly rich in Canada

HOME FLIPPER

Ever wonder why you see all the badly written ads on traffic stops and fencing for Cash Offers for house sales or “We buy your house”. These poor advertising tactics are uniquely appealing to impulse home selling who cant be bothered with the lengthly pain-stalking process of selling a house though commission hungry realtors. I recently tested the water with flippering my first home, here a breakdown on my take home profit after exactly 4 months of ownership.

Home Purchase — $255,000 (sellers credit of 5% due to being on the market 45 days)

Rennovation — $18, 000

Sale Price — $335,000

Net Profit : 100,000

Renovation breakdowns

Landscape — $2500

Driveway parking — $4000

Painting — $3000

Applicance — $ 2500

Pave Patio — $2000

Bathroom Bath Fitter — $4000

Here is the secret to becoming wealthy in relatively short period of time especially if you are generation X. Start the process by finding the lowest/cheapest home that has a rigid fundation and room for expansion. As long as the bones of the house is in take with not major need…