Condo Flipping is Risky. Here are 3 Ways to protect yourself
Imagine this happening, buying two pre-construction condos and two years later, the market changes to the downside. This happened to me. I was left holding two beautiful condos that I really wanted to flip but I couldn’t without losing thousands of dollars. And no one likes losing money.
Condo flipping is hard. But I survived. I survived only because I knew the condo flipping game is for gamblers, and the best way to do it is plan for the worst.
Now I’m carrying these two beautiful modern condos at break even. But I’m not worried. I have other plans to increase the cash flow. What I really wanted to share with you today is how I can help you avoid the same pain I went through more than two years ago.
Do you want to learn the ropes and flourish as a savvy real estate investor? Here are 3 ways to protect yourself when flipping a condo. Watch the video below to help you become more awesome.
If you bought a new condo recently or completed extensive renovations, you can get up to $30,000 back in HST. I received $22,000 back on my last condo! Click here to find out more.
Have you ever flipped a condo and how did it go?
Please share your experiences with as much detail as possible in your comment as your story may help others become more savvy investors!
I’m here to empower, guide and encourage you to reach your financial nirvana.