When I flipped!

When I first moved to Canada from England in 1980 my wife and I brought our first home on the outskirts of the city. I didn't have a job so we decided to buy a fixer-upper that we could flip later and make all kinds of money! It seemed like such a good idea at the time, after all, I knew how to paint and I had laid a carpet once. It wasn't long before I realized renovating a fixer-upper was much more than paint and carpets. Being from England, I knew nothing about leaky basements, raccoons in the attic and -30.c. Through trial and error we managed to overcome all of these obstacles and we put the house on the market 6 months later, but then, we were faced with around 21% interest rates. We eventually sold the house breaking even and brought another.

The moral of this story, not that everything should have a moral of course, is this, Real Estate is the best investment you can make but the market can be fickle. There is a right time to buy and flip property and a wrong time. Good money can be made buy flipping property but you have to know what you're getting yourself into. Ask yourself "am a buying a house or a home"?  Whatever it is remember, selling a home that's loved and cared for is far easier than selling a house. You've worked hard to get your piece of this land, now enjoy it and get the most out of your home.

Robert Ainsworth

Robert Ainsworth

Sales Representative
CENTURY 21 United Realty Inc., Brokerage*
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