Local man builds an empire Calgary Sun - Canada ... of which he owns 41% -- has 5,000 rental units in Calgary, Edmonton, Vancouver and ... in need of refurbishing, dramatically upgrade them, and then re-rent them at ...
People ask me all the time, should I buy and hold or flip properties. If your just starting out flipping properties can help you aquire working capital quicker. As your real estate career matures you may want to develop a buy and hold strategy to increase cash flow. Cash flow is king! You should always purchase a property that you would want to own for 10 years. If it isn't a quality property you may have trouble selling it. Focus on holding as many properties as you can. Only sell the ones you deem to be problematic or of a lesser quality, or if you need more money out of than refinancing can provide. Remember ... your tax payable will always be higher if you flip instead of becoming a rental business operator and hold long term.
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