Remind me why I'm working for a living again?

Just got a call from a friend. They bought their house last year for 1.5M. they sold it over the past weekend for 2.3M. And in Canada, we don’t tax capital on residences. He made over $800K in a year.

I can’t make that much money in a year working for a living. This is nuts.


Because you have a deep love of insurance, like the rest of us


Step 1: Buy $1.5M house
Step 2: ???
Step 3: Sell house for $2.3M house
Step 4: PROFIT!



Can always be a side gig.
Also, since multiple moves of 20+ years of crap over and over can be quite burdensome, best to keep all your stuff in your house, and instead buy and sell other houses.

Dammit, Da- Space Lobster’s friend!!!

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So you can be takin’ what they’re givin’?

No, if I’m doing the math right, you should be buying more than one house. Literally can’t go tits up.

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I knew a guy who owned something like five homes once, lived in one and rented out the others as short-term vacation rentals. This was 2006, some of you can already see what’s coming. Things went south, rentals dried up and it was really hard to unload them because he was upside down. He managed to just hang on long enough to break even and he did get out alive.

I believe the relevant saying is ‘it works until it doesn’t.’



don’t they need to buy another place to live in

800K? take away 200K in commissions and expenses

heard of a guy that made a billion in crytpo. Easy money yall. Why work indeed?

Heard of him? But I thought crypto was supposed to be anonymous!

Reminds me of Pirates of the Caribbean “leaves no survivors…” … “leaves no survivors… well where do the stories come from then I wonder?”

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I’d think about just doing this, you guys.

More like 60k.
Bit the remaining 750k is tax free. So that’s like, I dunno, over a mill income.

I mentioned this.
He’s got a summer vacation trailer. They’re going to live there until October on top of their piles of cash, then consider what to do.
I don’t like that risk so I won’t do it. Because, Calgary right now. And the us a dozen years ago or so.

Also this guy has another friend who’s won 7 figures in the lottery…twice. so again, see thread title again.

That friend has a friend who makes the lotto receipts and knows how to back-date them.

[insert obligatory Canadian dollar joke here]


It’ll stop working around when Canada stops being a mecca for money laundered through real estate (eta, there are more recent articles, I’m lazy)