Sunday, April 1, 2007

Weekend Open Thread

Nothing very significant going on, at least nothing that is perceptible yet. A few interesting items though:

- David Dodge talking about the "huge consequences" on Canada of hard landing in the US . But Canada, and certainly Alberta is different. We all know that by now.

-Met with a flipper friend who has interest in ten properties in the province. He had absolutely zero experience with real estate until 2005 and has now teamed up with several similar minded flippers to participate in the Alberta boom. I personally wish that things turn out well for him as he is a young guy with family responsibilities. He has so far sold not even a single property but is still looking for buying more properties. He was telling another friend to buy a duplex home in Edmonton for $300k as it would "for sure appreciate by $100k" in the next three or four months. No reasons, no valuations, no fundamentals. Just pure flipper play. Hopefully for him, the mania will continue and he'll manage to get something out of this boom. But I think once the music stops, there will be too many people without a chair.

-Any flipper friends who read this blog: how often/when do you actually flip properties? Is there any discipline involved in successful flipping in real estate? Or are you just happy holding on to paper gains?

Please post any other ideas, thoughts or suggestions for future topics.
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