Big flop: How to lose $1.68 million within two years

A West Vancouver property has been flipped within 21 months for a staggering $1.68 million-dollar loss.

The numbered company 1141975 B.C. LTD. bought 3560 Creery Avenue, West Vancouver for $8,480,000 on November 8, 2017.

The owners put it back on the market on June 3, 2019, for $7,488,000 with Angell Hasman (E.Christiansen) Realtor Eric Christiansen as the listing agent, and finally sold it for $6,800,000 two months later.

“Close in spectacular views are enjoyed from this absolutely incredible home with gated driveway on a 11,762 sq. ft. property,” the property description on the listing read. “The finishing quality and detail is over the top and the layout is amazing for entertaining and living with a family.”

Deborah Elizabeth Paes-Braga is listed as the sole director of 1141975 B.C. LTD. and the directors mailing address is shared by a number of mineral exploration and mining companies.

Christiansen is also the listing agent for a West Vancouver property that is advertised as an opportunity to avoid taxes using the bare trust loophole1.


5 thoughts on “Big flop: How to lose $1.68 million within two years

  1. So, let me get this straight. A mineral/mining company decided to speculate on Vancouver Luxury R/E? Not surprised, considering the sad state of affairs in the Mining Industry the past 5+ yrs.
    They should have been investing in their own business, as now we see Precious Metals prices soaring, but clearly these people don’t invest in good data or financial information.

  2. director’s mailing address are typically those of the law firm that did the incorporation. Hence the same mailing addresses show up for other corporations.

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