A flipper has made $400,000 dollars flipping a brand new home in east Vancouver’s Sunset neighbourhood.
Weijian Liang bought the brand new home at 418 East 56th Avenue for $2,200,000 in July 2020, according to public records1.
Nine months later, Liang listed the property for $2,490,000, only to take it off the market at and relist at $2,639,000.
The property sold on May 9, 2021 for $2,600,000, which is a gain of $400,000 or 18% before fees.
MetroVancouver speculators have to date flipped a staggering 460 properties worth $490 million since the World Health Organization (WHO) declared COVID-19 a pandemic on March 11, 2020.