Buyer makes $200,000 profit in 20 minutes by flipping 19 Miami condos
By ELAINE WALKER
It could be one of the quickest profits made in Miami’s condo market.
All it took was 20 minutes for a bulk buyer to make $200,000 by purchasing 19 units in the new Mi Primera Ilusion Villas Miami condominium and then immediately selling the same condos to another investor, according to a report from CondoVultures.com
The Fama Group, with principal Nancy Marquez, purchased 19 units in the 30-unit condominium on Southwest 18th Avenue in Miami for $1.25 million, or $102 per square foot, according to Florida Secretary of State records. The deal was completed at 1:25 p.m., Friday, March 5. Read More…