Hi from the east coast (Truro, NS)- I have actually bookmarked on my chrome "Real Estate in Canada" so I can instantly get to this subforum ;)

I know locksmiths cost money and I know that turnover isn't always instant.  

I would also end up with way less in instant equity because of how hot this market is.My goal is to use the BRRR strategy to be able to scale up and buy more property but I am afraid of getting in over my head ( and finances) on a rehab!

Just aren't sure if it's a smart buy even with the instant equity because it has been difficult to sell and IS on a fairly busy street.

Like I mentioned before, I kinda had a general idea of what I was going to say to who ever called but when the phone rang that GR8 plan I had instantly disappeared!  

The price I paid was twice what they paid for it just SEVEN days prior giving them an instant $30k profit.

You already know the zip code that its shipping to, and they already calculate shipping instantly.

one is appraised value and one is market value.. took me a few years to understand that .. even though something will appraise at 100k say and you pay 80k and think you got instant equity you will NEVER sell it for 100k it will only sell for 80k.Now there are a few turn key's that do BRRR I call it turn key light.. but its a process and it takes time to get these deals done.. but the refi usually gets pretty close to all your cash back.... but don't think you have true equity.. it does not exist in those markets the way you or most of the out of state or area investor perceive it.

It does sound like it would cash flow and give you instant equity depending on whether or not it needs any work.If you have a better deal go for that, if not this doesn't sound too bad.

I instantly gained over 300k in equity upon closing.