Buying Presale Condos to Flip = Extremely Risky! HD

I’m hearing stories of a pre-sale condo gold rush going on in Surrey and parts of the Fraser Valley. One story that was relayed to me was of a person who bought 4 pre-construction 1 bedroom units with the plan to flip or assign them over the next 18 to 20 months before the units were completed. Apparently this buyer had not even talked to a mortgage broker or had the additional funds to close on these units. In my opinion this is a recipe for disaster. This buyer has no idea of the risk he is taking without having the financial ability to close on these units in the event that the market does not continue to increase. Stay in touch on social: Twitter: https://twitter.com/OwenBigland Instagram: http://instagram.com/AlongForTheRide_Bigland/ Facebook: http://facebook.com/OwenBiglandRealtor/ If you want to voice your opinion or get in touch with me, please email me at owen@owenbigland.com or comment/message me on my YouTube channel. Thanks for watching! Get my new book "Along for the Ride" available at: Amazon.ca: http://bit.ly/Owen_Bigland Amazon.com: http://bit.ly/OwenBigland_us OWEN BIGLAND MACDONALD REALTY Direct Ph: 604.889.1118 http://owenbigland.com VANCOUVER BC HOMES & CONDOS GREATER VANCOUVER BC REAL ESTATE FOR SALE