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lowside67 · 03-01-2025, 02:56 PM

If you want to see a real world example of losing your shirt on a real estate gamble, here it is:
https://www.zealty.ca/mls-R2944338/1...-Vancouver-BC/

They paid $5.1M + transfer tax in 2016.

Listed for $5,888,000 in May 2018.
Reduced to $5,488,000 in August 2018, listed for a year, terminated in July 2019.
Reduced to $4,888,000 in October 2019, listed for a year, terminated in September 2020.
Relisted for $4,988,000 in in May 2023, reduced to $4,188,000 and terminated in August 2023.
Relisted for $3,799,000 in November 2024, reduced to $3,419,000 in February 2025 and still for sale.

It has been 9 years since they bought it and they are going to take a 50% loss I bet with the cost of interest of holding over that period.

-Mark

03-01-2025, 02:56 PM	#34465
lowside67 Old School RS Join Date: May 2004 Location: Port Moody Posts: 4,641 Thanked 4,157 Times in 1,262 Posts Failed 130 Times in 80 Posts	If you want to see a real world example of losing your shirt on a real estate gamble, here it is: https://www.zealty.ca/mls-R2944338/1...-Vancouver-BC/ They paid $5.1M + transfer tax in 2016. Listed for $5,888,000 in May 2018. Reduced to $5,488,000 in August 2018, listed for a year, terminated in July 2019. Reduced to $4,888,000 in October 2019, listed for a year, terminated in September 2020. Relisted for $4,988,000 in in May 2023, reduced to $4,188,000 and terminated in August 2023. Relisted for $3,799,000 in November 2024, reduced to $3,419,000 in February 2025 and still for sale. It has been 9 years since they bought it and they are going to take a 50% loss I bet with the cost of interest of holding over that period. -Mark __________________ I'm old now - boring street cars and sweet race cars.