I have spent sometime in Ottawa real estate market for the past 10 years, and I really need to learn which part of Ottawa you can bought for $260k in 2010 and sold for almost $400k in 2017? I am not saying it is impossible, it is like someone may win the lotto max next week.swales wrote: ↑May 15th, 2017 12:31 pmWell yes if you over pay you can't expect to make a profit. Now since we're giving examples, a buddy I know bought a townhouse for $260,000 total, no other upgrades added in 2010 and sold in 2017 for $398,000, sold himself and paid 2.5% total fees so while it's not crazy profits like TO or Van it's far from the doom and gloom posted in here. I can give a dozen other examples like this or better.
Maybe your friend buy the house from his/her parents with big discount and sell it to some uneducated buyers with big premium?