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Flipping Wonderland: House Flipping in Ontario  


Article by Ryan Jackson
























We all are aware that house flipping can generate a large amount of income and profit, provided you are able to properly purchase, flip, and sell a property in the least amount of time with the least amount of money to be used in renovating a home. In Canada today, house flipping in Ontario is nearly becoming a paradise for investors and locals alike. With the property tax regulations in Ontario, one can properly earn maximum profit in the least amount of time.There are a lot of rules that govern property buying and selling in Canada. You have to have lived in a permanent residence for a certain amount of time before you can have the house flipped for reselling, let alone being sold in the first place. Although the rules are basically identical to that in the United States, an investor will not have a hard time flipping houses in the country. As always, you have to have an idea and prospective properties to flip. There may be some prime areas that can yield you much more profit and there are also some areas that might get you a much smaller margin, especially because of taxes.Tax rules and time frame still governs privately owned properties in Canada that makes house flipping in Ontario quite difficult at times. Some may require a property to be owned for at least one year for your profit to be not taxed, and some governs other requirements and certain cases which sometimes get your profits taxed still, adding to the owner or the investor


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