All Vancouver flippers flopped in May

All 11 detached house flips in and around Vancouver in May 2019 ended up with the flipper losing money, with all selling for double digit percentage losses.

All flips in Vancouver, Richmond, Burnaby, West Vancouver, North Vancouver and New Westminster ended up with the seller getting less significantly less than what they paid for the property.

The most painful flop was recorded in North Vancouver with the property selling for 35% below what the seller, the numbered company 1067322 BC LTD, paid in August 2016.

The director of 1067322 BC LTD is listed as Linlin Zhang,

OpenHousing defines a flip as a home bought and sold within three years.

Vancouver

AddressYear BuiltSold PriceSold DateBought PriceBought DateProfit/Loss %
3811 W 14TH AVENUE1922$3,700,00008-May-2019$4,500,00006-Sep-16-17.78
2073 W 45TH AVENUE1963$1,960,00013-May-2019$2,650,00006-Jun-18-26.04
2669 W 36TH AVENUE1989$4,750,00016-May-2019$5,300,00022-Jul-16-10.38
3626 W 37TH AVENUE1927$2,020,00024-May-2019$2,618,00016-Feb-17-22.84

Flip flops: 4 out of 4

Richmond

AddressYear BuiltSold PriceSold DateBought PriceBought DateProfit/Loss %
5451 MAPLE ROAD1993$2,060,00018-May-2019$2,400,00002-May-16-14.17

Flip flops: 1 out of 1

Burnaby

AddressYear BuiltSold PriceSold DateBought PriceBought DateProfit/Loss %
3 RANELAGH AVENUE1952$1,050,00009-May-2019$1,215,00020-Mar-18-13.58

Flip flops: 1 out of 1

West Vancouver

AddressYear BuiltSold PriceSold DateBought PriceBought DateProfit/Loss %
1345 GORDON AVENUE1928$2,050,00009-May-2019$2,780,00016-Dec-16-26.26
2348 LAWSON AVENUE2015$3,660,00015-May-2019$4,407,90016-Jan-16-16.97
780 GREENWOOD ROAD2013$7,000,00017-May-2019$8,500,00014-Mar-16-17.65

Flip flops: 3 out of 3

New Westminster

AddressYear BuiltSold PriceSold DateBought PriceBought DateProfit/Loss %
406 EIGHTH AVENUE1949$1,035,00013-May-2019$1,160,00018-Apr-17-10.78

Flip flops: 1 out of 1

North Vancouver

AddressYear BuiltSold PriceSold DateBought PriceBought DateProfit/Loss %
3750 GLENVIEW CRESCENT1952$1,502,00007-May-2019$2,295,00031-Aug-16-34.55

Flip flops: 1 out of 1

Process finished with exit code 0


One thought on “All Vancouver flippers flopped in May”

  1. Dont worry everyone!
    Even if the housing sales and prices are TANKING.
    Realtors still get their exorbitant commissions.

    Happy Housing CRASH buyers.
    Catch that falling knife.
    Make sure you enjoy that crappy bottle of wine the Realtor gave you after earning $25,000, $50k, $100k or more in commissions from the sale…. because, they’re your friend…… no really…..

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