Quick flip For Sale

This flip was done back in 2000 when I still had a ‘day job’ so my time was very limited.

I met a lawyer on another deal who wanted to sell two units for his client, I put it under contract and before the closing date found another buyer who purchased it for more than what I had agreed to pay for it.

Lawyer performed what is called a simultaneous closing whereby all I did was show up at the closing and collect my cheque.

I don’t advocate these kinds of deals because of the tax implications but at that time I didn’t know any better.