Dozens of Metro Vancouver house flips header for a loss
Dozens of Metro Vancouver house flips currently on the market are headed for a loss, with the sellers pricing the properties well below what they originally paid for them. OpenHousing defines a flip as a property bought and sold within three years without rebuilding or renovating substantially.
A number of these are foreclosures or court-ordered sales by alternative mortgage lenders. For example, Reliable Mortgages Investments Corporation has listed for foreclosure sale a Shaughnessy, Vancouver property, which was bought for $3.1 million in June 2016, for just 2.85M. Vanmortgage Capital GP Corporation is selling an English Bluff, Delta property original bought for $3.3 million and abandoned mid-renovation for just $2.65 million. Meanwhile, Winbright Enterprise Ltd is selling a property in Hastings, Vancouver and Bridgeport, Richmond for less than what they originally paid for them. see link | 
發表於 2019-8-26 08:52
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