Selling All Your Properties - A Message?

[22yearoldlandlord]

What a story

Bought in 2021 for an astounding $11M and paying $30k in property taxes per year, this massive Vaughan mansion proved to be too much for the owner in about a year and was sold off-market in a Power of Sale for $8M in 2022. The buyer lost $4M in a little over a year.

The new buyers were not so lucky either — they ran into problems and were hit with another Power of Sale by the lender, losing $1.2M.

More than $5M in losses across two owners in 4 years.

Will the new buyers be able to hold on to this one?

[Bankrupt!]

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