Condo Flipping Potential - Calgary market

[Jesse Shields]

Hey All,

It's been pretty quiet up here in the Canadian section so figured I would quit lurking and ask some questions and hopefully start some discussion. 

I've been cruising trying to absorb as much information and set up as many systems as I can ahead of time for estimating costs etc, but my question now is: I am in the Calgary market which is fairly highly priced. It seems like there would be many opportunities to take some of the older condos/awkward layouts and have a fair amount of potential for flip profit but it seems that this is a far less popular choice.

When you compare equivalent (size and relative location) condos from older buildings to new builds there is a MASSIVE price discrepency: many new builds starting at 300k in the core with older similar sized and neighborhood properties going for less than 200k (but very dated). My question is, is it fair to base the comps on the new builds that are going up, or is the building itself a huge portion of the sale price when going to flip (if you had equivalent interior of an older building to a new building should the prices be comparable or will they always be far different because of the building itself).

Or if I am asking the right questions, please let me know and I can start looking into asking the right ones.

Thanks, 

Jesse