Buy Pre-Construction Condos to Re-Sell (Flip or Re-Assign)
We’ve worked with private individuals who have profitably executed the purchase of new condos who intended the turn around and sell them quickly. Your purchase can be flipped or in some cases, re-assigned. There’s a difference, and each have differing implications.
- “Flipping” / Re-selling your Condo Purchase. This refers to seeing the purchase through to completion, and then turning around to sell the property on the believe that you’ll earn a profit.
- Re-Assignment of your Condo Purchase. In simple terms, re-assignment means you’re actually not taking possession of the property, but rather that you’re transferring the Agreement of Purchase and Sale to another buyer (before closing).
Each investment type has different implications. You’ll want to consider tax implications and particularly in the case of re-assignments, whether there are stipulations that disallow this practice entirely.
Our Team not only knows the ins and outs of buying pre-construction and re-selling or re-assigning, our strategies and access may provide you with advantages like:
- preferential Purchase and Sale Agreement terms to afford you the greatest flexibility (often not afforded to other buyers)
- early access to purchasing the best units, in the best new construction projects that help you sell – fast
IS FLIPPING OR RE-ASSIGNMENT RIGHT FOR YOU?
In a strong market such as Burlington, Oakville, Hamilton and Niagara flipping/re-assigning properties can provide strong, accelarated returns.
It’s not for everyone, though. Buying pre-construction condos with the help of our team can help mitigate risks. From securing the best purchase price, to pointing out potential implications of a market downturn, to planning for taxes – all facets of an investment should be examined. Learn more to see if it is right for you.
INVESTMENTS THAT EARN
Our Team has helped many new construction condo investors buy early and sell fast and profitably upon project completion. Access, know-how and trust has earned us repeat clients!
Condos as Investments
Condo markets west of Toronto including Burlington, Oakville, Hamilton and Niagara have proven to provide investors exceptional returns. Teaming up with leading, local developers provides our clients exceptional properties that are easy to re-sell.
Buy to Sell or to Rent?
You might find that a condo purchased pre-construction turns out to be a great rental property opportunity. As the closing date approaches, you might consider renting it out, instead. It’s another option that will pay dividends long-term!
I untapped a lot of equity in my principal residence and put it to work by buying pre-construction condos to re-sell. Not only did I get my capital back to pay off the HELOC, I made enough to maximize my RRSPs! I’m now waiting for the next condo project to go on sale. Thanks Team Patty!
Having worked in the mortgage business for many years, I’ve seen it all. However, I must say that Patty is in the right market, doing the right things and obviously knows how to treat her clients. Continued success!