You’ve probably seen it on reality TV. Someone buys a home, renovates it, and resells it for a profit.

This is known as house flipping, and it seems like Alberta, specifically Calgary, is leading the country in this regard.

Lara Mitchell has been working in real estate for nearly a decade, and in August she helped her sister find a home.

“But it turns out he didn’t want that. So now I’m changing that,” Mitchell said.

He bought the duplex for about $430,000 and is dedicating $50,000 to renovating it.

He expects to sell it for about $550,000 and make a profit of $70,000.

“We’ve replaced the floor so far. We’ll paint that too,” Mitchell said.

Lara Mitchell has been working in real estate for nearly ten years. He’s been doing domestic work for the past six years and says the market has never been this hot.

Mitchell has been going crazy for the last six years and says the market has never been hotter.

In fact, Calgary rules the country.

According to statistics from the Bank of CanadaApproximately 7.6 per cent of homes purchased in the Calgary area were resold in the past 12 months; this is the highest number of any major city in Canada.

Edmonton follows at five percent, followed by Vancouver, Montreal and Toronto at just one percent.

“Toronto’s detached reference price is under $1.2 million, Vancouver is under $1.1 million and Calgary is under $600,000 as of September, so what people are doing is moving here, selling their Toronto home and saving half of what they sold and Buy a bigger house here,” Mitchell said.

“In other cities, housing prices have risen so much, especially in metropolitan areas, that it has become more difficult to turn around financially, especially as markets there have slowed,” said Wahi broker Anne Alkok. .

Lara Mitchell has been working in real estate for nearly ten years. He’s been doing domestic work for the past six years and says the market has never been this hot.

But experts say things are improving faster in Alberta, thanks to an influx of people moving to the province in search of more affordable housing.

When they come here, they want it to be turnkey.

“It’s (actually) very busy. We’re pretty full right now; we’re buying houses for next year,” said NLG Renos contractor Neritan Gremshi.

Gremshi has been flipping houses for 20 years and says demand for renovations is very high.

He hopes to make a 20 per cent profit on a stripped-to-the-bone townhouse in the Northwest, but says nothing is guaranteed in Calgary’s competitive market.

“There is risk. To imitate, you also have to pay attention to the budget. You may spend more,” Gremshi said.

And because of the hidden risks, experienced flippers warn anyone planning a project to call a professional first.

“Be careful what you buy. There are a lot of surprises behind the walls,” Gremshi said.

“When you start opening up walls, you start opening up a can of worms that you have to fix,” Mitchell said.