House flipping is the perfect investment with the potential for high profits. But like every high-profit investment, it involves high risks. “The masses believe in the dream that’s been promised to them, that they will be making a fortune in the next six months,” says Manuel Iraola, president of Miami-based Homekeys.net, an online real estate company for MSN Real Estate. “They don’t have the basic know-how. If it were as easy as they make it seem, 286 million people would be flipping real estate.”

Flipping used to be a popular real estate strategy before the U.S. housing collapse, and now, after the crisis and with a recovering housing market, it is coming back into fashion.

What is It?

House flipping is a type of real estate investment strategy in which an investor purchases a house with the goal of reselling it for a profit. Investors can renovate the house and increase its value. Many flipped houses are bought in foreclosure or in estate or similar sales at a bargain, with the intention to quickly sell the house at market price or the best price they can bring from the property without making any special investment.

Great Strategy or Just Luck?

House by Loozrboy

If everything goes well, an investor can make a substantial amount of money in a very short time. James R. Hagerty describes Jon Mirmelli’s investment: He learned late in the morning that a never-occupied custom house on the northern fringes of this Phoenix suburb was going up for auction in the same day. He won the home for $486,300, and one week later, he sold it to a migrant for $690,000 (141 per cent). It seems to be easy: wait for a really cheap house, buy it, find a buyer, and gain a remarkable profit. And if you are lucky, yes, it is easy. However, flippers can’t rely on luck — they have to know.

What a Flipper Needs

1. Money

This includes the property acquisition cost, property holding costs such as taxes and utilities, renovation costs, and capital gains taxes. The profit doesn’t come from the difference between the purchasing and selling price. There are more costs that have to be added to the equation. The flipper has to be sure that he will have enough money to cover all the costs and to sell the home at a higher price than the sum of his costs.

2. Time

It could just as easily take months to find a buyer as it could take a week. Before selling, the flipper needs to schedule inspections to make sure the property complies with applicable building codes. If it doesn’t, she will have to spend more money and more time, and she still won’t know whether it’s worth the effort. A more ordinary job probably couldn’t bring in as much money, but the risk wouldn’t be involved.

3. Skills

When a flipper decides to renovate the house, he should do so by himself as much as he can. If he can’t repair the roof, he has to pay a professional to do it, and each job contracted out increases his costs.

4. Knowledge

Documentation by Joel Penner

Buying and selling require a lot of documentation. If a flipper wants to get a high profit, she has to know the neighbourhood of the house to predict the selling price, the legal and economic background, and housing demand in the country and area. Otherwise, she could find herself trapped with a home she doesn’t want, unable to sell it without losses.

If you decide to try your hand at flipping houses, remember that as with any other business, flipping requires a lot of knowledge, good research before taking action, and patience. Sometimes even a low profit is better than losses, and sometimes it is worth waiting for a better offer. Don’t decide in a hurry, but don’t hesitate too much.

So where can you find the ideal compromise? Do your research, because only a wealth of information and lots of practice can give you the right answer.

Riverdale Farm is a 3-hectare municipally operated farm in the heart of Cabbagetown, an urban neighbourhood in Toronto. The farm is open to the public all year-round. It specializes in pioneer breeds of farm animals that are hard to find on commercial farms. Thanks Steven for this excellent photo!

A recently issued report by the Greater Toronto REALTORS® shows that the trend of strong sales and price growth continues in 2012. The TorontoMLS® system reported an 8.8 per cent growth in sales, with 4,567 transactions compared to the 4,199 recorded in January last year.

Low-rise homes in the regions surrounding the City of Toronto witnessed the highest sales increase. The average selling price went up by almost 9 per cent in a year-to-year comparison to $463,534.

Toronto Real Estate Board President Richard Silver remarked: “A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept home buyers confident in their ability to achieve the Canadian goal of home ownership.” He further added that buyers in the Greater Toronto Area keep demand diverse by showing strong interest in home types across the pricing spectrum.

Analysts expect the price growth to slow down, as high prices are likely to attract more listings and alleviate some of the pressure on the current supply, driving prices upward.

Maybe you’re hearing this term for the first time or maybe you’ve been wondering what it really means when you’ve come across it in the media lately. The slow movement is on the rise. But not many people really know much about its philosophy aside from admiring the highly fashionable (and, to be honest, usually also quite expensive) clothes that are claiming to be all about protecting the environment.

How it all started

The first slow movement started in Rome with a single protest held against the planned opening of a new McDonald’s restaurant led by Carlo Petrini, a culinary articles contributor for local newspapers, who is now considered to be the acclaimed founder of the International Slow Food Movement. The Movement boasts more than 83,000 members and has been fighting against the standardization and suppression of cultural differences in the food industry since 1986, encouraging food consumers worldwide to enjoy regional produce and organically grown food, fiercely defending agricultural biodiversity. In other words: Let’s eat with pleasure but responsibly!

This concept has become increasingly popular, with supporters from different areas of life joining in, and various subcultures started to form around it — whether it was in design, fashion, or urban lifestyles. Concepts with strange names like Slow City, Slow Design, Slow Parenting, Slow Media, and Slow Fashion derived from the original concept.

What is it about slowing down?

Professor Guttorm Fløistad of The World Institute of Slowness explained the philosophy of the slow movement as follows:

The only thing for certain is that everything changes. The rate of change increases. If you want to hang on, you’d better speed up. That is the message of today. It could, however, be useful to remind everyone that our basic needs never change. This is given only through slowness in human relations. In order to master changes, we have to recover slowness, reflection, and togetherness. There we will find real renewal.

The World Institute of Slowness

Slowing down allows us to take some time to make more environmentally conscious decisions that could prevent further environmental damage. The word “slow” therefore describes a brand new perspective on everyday life: slowing down our pace and shifting the focus toward long-term sustainability rather than short-term satisfaction. Every day, more businesses are joining the global slow community and basing their activities on its main vision: respecting ethical treatment, using organic sources, and preserving local traditions and materials.

The unpleasant reality of fast fashion

You could say that fast fashion is not just about the speed of the production, as it is also about the greed of both buyers and sellers. And this greed doesn’t come for free. In the desperate struggle of the clothing industry to lower their costs and boost their sales at the same time, they are trying to squeeze the most out of the resources available. The main goal is to achieve fast delivery to the customer at minimum costs. This often results in a lack of interest in their environmental impacts (outsourcing in developing countries uses further transportation which is unnecessarily depleting the world’s oil reserves and increasing greenhouse gas emissions) or appalling working conditions (low wages, human rights abuses, high likelihood of workplace accidents, and child labour).

But how do you make quick and cheap clothes without slipping into the danger of the exploitation of labour and natural resources? Only recently, the media wrote about a huge scandal with the wholesale chain Primark, allegedly collaborating with suppliers using child labour. You obviously don’t think about this when you’re admiring cheap versions of the latest fashion trends that you’ve just seen on the Paris catwalks. The truth is, consumers are magically drawn to the exclusive collections for reasonable prices offered by such fast fashion retailers as Old Navy, H&M, Zara, Walmart, Target in the U.S., and Primark and Peacocks in Europe. With retailers selling the latest fashion trends at very low prices, consumers are easily swayed to purchase way more than they really need.

The fast production often uses the just-in-time manufacturing, which is so effective that it can produce a ready-to-wear products from an initial sketch in the unbelievable time of less than twelve days. Recent research has shown that the consumption of garments has risen by one third in recent years, which is seen as buyers’ natural response to the growing strength of discount retailer chains such as Walmart, Primark, and Matalan. These stimulate over-consumption. For example, people buy several variations of the same product just because of the extremely low prices. Naturally, a big part of it ends up unused or worn just once or twice, left lying around in their wardrobes.

The main arguments against fast fashion are that it has very little regard for wages, working hours, and climate change. It contributes to the depletion of fossil fuels, diminishes fresh water through cotton crop irrigation, and uses synthetic fibres that are not easy to recycle.

Slow fashion: a must-have for more than one season

Sustainable Fashion
and Textiles Design Journeys

When applying “slow” principles to the fashion industry, it’s not just another seasonal fashion trend. A movement that creates an alternative to mass-produced clothing (“fast fashion” or “McFashion”) should be seen as a “sustainable fashion movement rather than a seasonal trend that comes and goes like animal print,” as explained by Kate Fletcher at a convention organized by the English Centre for Sustainable Fashion in 2007. (Read more on this subject in her book, Sustainable Fashion and Textiles: Design Journeys). Slow fashion is about choice, information, cultural diversity, and identity.

Looking for some parallels in food, we already know we should buy more local, organic, and seasonal products. In fashion, this translates into more local, organic, and less seasonal products. To illustrate this similarity, imagine that when you’re buying clothes. Try to fill your shopping bag with the same attention to quality and “expiration date” (which could translate as durability in the fashion industry) of the items that you would expect with your grocery shopping. Try to find your own personal style by combining old and brand new pieces of clothing, just like you create a delicious meal out of the only ingredients that are available in your fridge on a Sunday evening.

Slow fashion takes off the pressure of time. What is needed is to rethink the whole processes of designing, consuming, and living and bring it to a whole new level. Concentrate on the important things: don’t only strive for maximizing your profit. Adjusting business activities to these principles, suppliers would have enough time to ensure the highest quality of the product, plan orders, and choose the right amount of workers working regular hours with no need for unplanned overtimes. Diverse and innovative business models are strongly encouraged — independent designers, larger fashion houses, second-hands, vintage, recycling, fashion leasing, your local knitting club, and clothing swaps are all recognized in the movement.

With the recent boom in trends including “bio,” “green,” and “organic” products, it seems that customers are finally becoming more engaged in these issues, willing to invest significantly more money into quality products to make them feel good about what they buy (whether it be the decision about buying eggs from free-range farms or supporting local produce and privately-owned green farms in the neighbourhood).

Grow conscious

Taking part in the slow fashion revolution represents awareness in the choices you make — as consumer, as designer, and as producer.

It’s high time to slow down and think more about the consequences of constantly choosing quantity over quality. The numbers are alarming: 2 million tons of clothing are purchased annually, and almost three quarters of this amount ends up in the landfills. Choosing quality goods over disposable items can significantly reduce these numbers. We should reconnect production with consumption, take responsibility for our environment, and understand that with changes in our habits, we ourselves are making a statement.

But how does it work?

Linen by Wikimedia Commons

By using more premium materials such as silk, linen, and cashmere, we choose to increase the durability of our clothing. Low-quality clothes often deteriorate more quickly, and there is no point in trying to repair them since they’re ready to be thrown away.

Rather than encouraging you to create your own personal style, the streets are often full of look-a-likes blindly following the latest trends. Buying more products that are “trans-seasonal” can decrease your carbon footprint. Slow fashion supports individual creative expression.

Naturally, you will be concerned that the quality is going to cost you more. One possible solution is to buy fewer high-value products with a good feeling that you personally contributed to the change. A general tendency is that your usual slow consumer will be in his or her 30s with a regular income, since students tend to go for cheap. But there are many easy tricks you can learn to make the change affordable.

Key concepts of slow fashion

• Opposition to mass-produced fashion and praising personal style
• Sustainability as a core value in the garment’s lifecycle
• Raising awareness about the negative impacts of the fashion industry on workers, communities, and ecosystems
• Quality over quantity
• Promoting conscious consumption rather than frivolous over-consumption
• Support for smaller businesses, fair trade, and locally-made clothes
• Slowing down the supply chain to reduce the number of trends and seasons

Tips on how to become a slow fashionista

• Buy second-hand or vintage clothes to recycle
• Donate unwanted garments to charities rather than throwing them away
• Choose clothing made of sustainable or recycled fabrics
• Choose quality garments that will last longer
• Don’t just follow every new trend
• DIY: make, mend, customize, and alter your own clothing
• Buy fewer clothes and buy less often
• Avoid impulse buying
• Be generous and lend clothes to your friends
• Try out new pieces from your friends’ wardrobes before you buy them to see how well they fit into your life

Slow fashion companies

Max Jenny Collections

These companies are successfully producing stylish, quality garments that have a minimum impact on the planet and give a maximum benefit to people and the environment. The businesses that want to follow this concept need to create a fine balance between strong fashion expression and durable, quality products. What we wear also expresses who we are, our ideals, our identity, our values, and our responsibility toward our environment. There is a constant challenge to design fashion that does not go out of style. Who are these pioneers that manage to implement these principles into their missions?

Fashion designers

Slow fashion has struck a chord even among the ranks of the most extravagant fashion brands. New designers for the house of Hermès, Haider Ackermann, and Christophe Lemaire are supporting the slow fashion way, spreading the belief that clothes should be made with the finest materials and are meant to be long-loved. The Scandinavian brand Max Jenny is a true pioneer of “Zero Offcut Fashion,” minimizing waste through using all of the cut-offs created while working on a collection. Their amazing outerwear is made of 100 per cent recycled bottles. If you want to combine your love for exquisite fashion pieces with protecting the environment, look for more designer brands and shops online through one of the portals, such as YOOX (look into their Esthetica section), that promote these brands.

Susan Cianciolo

New York-based designer Susan Cianciolo, who produces many one-of-a-kind, handcrafted pieces, also belongs to the slow fashion movement. Her clients admire her enduring commitment to her creations, and she says she is often asked to rework pieces after years of wear. Susan takes it a bit further: she is personally searching in the woods with her mother for materials to make non-toxic dyes to add finishing touches to a pair of jeans and thereby avoid toxic bleaching.

Miik

Miik

Designed and made in Canada, this lifestyle clothing brand is one perfect example of how you can build up your business on the ideas of slow fashion. Miik’s clothing line is made of exclusively organic materials, 10 per cent spandex and 90 per cent certified organically farmed bamboo. The owners (husband and wife) Michael Gaughan and Donna Smith say they chose bamboo because it‘s not only one of nature’s fastest-growing natural resources, but bamboo fabric is also very comfortable to wear, doesn’t fade or lose its shape, and is extremely durable. For the latest collections, they’ve expanded their portfolio of environmentally friendly fabrics, adding tencel (a biodegradable fabric made from wood cellulose pulp) and organic cotton. The line’s carbon footprint shrinks for Canadians because the pieces are designed and sold in and around Toronto. Keeping their price reasonable, you can order your favourite picks either online or swing by at the local store on 477 Richmond Street West in Toronto.

{r}evolution apparel

{r}evolution apparel was founded by two courageous Americans who decided to team up after years of travelling and volunteering around the world. Finding their inspiration while backpacking in Central America, they decided to develop stylish but versatile and functional apparel for the adventurer. Incorporating their mission (“Our lives are defined not by what we own, but by who we love, what we do, and how we impact the world.”) in every aspect of the new business, they claim that the inspiration came at a time when all their personal belongings fit in a single backpack. Launching the new collection in 2012, it consists of only ten items of clothing that can be combined into 100 different looks. Each piece designed for maximum versatility and worn a in variety of ways, it is the perfect example of a sustainable product. The adorable Versalette is a multi-functional piece that can be worn over 15 different ways with just a few adjustments. It serves as a dress, shirt, skirt, scarf, purse, hood, and more.

Goodone

Goodone is an award-winning sustainable fashion design company based in London. Its unique women’s apparel and accessories, all made from recycled materials, bring you the typical urban edge of British fashion. They also sell their collections through some popular retailers such as TOPSHOP.

Adili

Adili has established itself as one of the leading online ethical retailers, showcasing a diverse portfolio of products from ethical fashion and beauty to lifestyle.

Edun

This company, founded by Ali Hewson and U2’s singer Bono in 2005, is committed to developing trade with Africa through creating a global fashion brand. Edun not only brings attention to business potential hidden in Africa but also uses its profits to support local manufacturers, infrastructure, and community-building initiatives.

New Balance Shoes

This privately owned American company based one of its founding principles on a commitment to a domestic workforce. With annual sales of $1.6 billion, it operates five factories in the U.S. but also employs 210 people at Flimby in the United Kingdom, where around half of its production is sold.

Entermodal

Entermodal

The designers behind the handbag company Entermodal have taken the concept of preserving a craftsman’s heritage one step further. Designer Larry Olmstead and his team are using the technology of the 1850s available prior to the Industrial Revolution to create bags that truly can last for decades.

As you can see, once you start looking into this a little bit more, you can be surprised by how many companies out there are joining in by producing eco-friendly and sweatshop-free yet very stylish designs. Making a small change in your habits by thinking more consciously about what you buy can have a significant impact on the environment in the long term — especially if there are enough people to support this idea.

The red-brick Gooderham Building (commonly referred to as the "Flatiron Building") is a historic landmark of Toronto. It is well known both for its narrow wedge shape and for the mural on its back wall. Thanks Rob for this beautiful photo!

In spite of the unpleasant winter weather, you do not have to spend every afternoon or weekend sitting at home. I am sure your children would appreciate a little excitement out of the house. Get inspired by some of the interesting events for children or families taking place in Toronto over the month.

Valentine’s Weekend at Toronto Zoo

361A Old Finch Avenue
February 11th, 12th

Valentines Weekend at Toronto Zoo

Valentine’s Day is not only about romance. Why not spend the weekend dedicated to love with the ones you love most — yes, your children — at the zoo? On February 11th and 12th, you and your family will be able to demonstrate how important animals are for you. Everyone under the age of 12 who brings their favourite zoo animal a Valentine’s Day present can enter the zoo for free. Be careful: the limit is two children per adult. It is worth paying a visit. The zoo is open from 9:30 A.M. until 3:30 P.M. Come and let our animals have a lovely Valentine’s Day too.

Family Day on the Kingsway

3029 Bloor Street W.
February 18th

Family Day on The Kingsway

The first annual Family Day on the Kingsway is to take place from 11:00 A.M. to 3:00 P.M. on Saturday, February 18th. Take your kids and enjoy an exciting Ice Sculpture Competition, Maple Taffy Demonstrations, a barbecue, real animal skulls, paws, and furs from the Toronto and Region Conservation Authority, and so much more. Sounds like a perfect family Saturday, and the premiere of this event is most likely going to be a huge success! Come and have fun!

Kids-Fest

6900 Airport Road, Mississauga
February 18th-20th

Kids-Fest

The largest indoor inflatable show in Canada is back and it’s bigger and better than ever! Kids-Fest will be readily expecting excitement-craving young visitors from 10:00 A.M. until 5:00 P.M. from February 18th to 20th. Let your kids go wild and enjoy a little shopping in the market place, a fun ride, or one of the fantastic stage shows — this year including Suzie Sunshine, Veggie Tales, and Juggle Magic. All children have to be supervised, obviously. There is no need to worry about the cost of parking; you can spend the whole day in the centre, and it is all free. Pony rides are free as well, but the tickets for toddler rides are $15.00 and a ticket for all the rides is $25.00. Have fun!

HarbourKIDS: SK8

235 Queens Quay West

February 19th-20th

HarbourKIDS SK8 festival

The annual HarbourKIDS: SK8 festival has been moved from December to February, giving families across Toronto a wonderful opportunity to spend an unforgettable Family Day weekend. Indeed, from 11:00 A.M. to 5:00 P.M. on February 19th and 20th, every adrenaline- and fun-loving family is welcome at the Harbourfront Centre to “celebrate winter culture from children’s perspective.” The festival offers everything from sports, such as hockey and skateboarding, to movies, craft activities, urban art, and music by talented artists including the well-known Toronto All-Star Big Band. All children will find their favourite activity, and as you can see, there is a lot to choose from. The event is free, so do not hesitate to come out; there is nothing to lose.

Hockey Hall of Fame on Family Day

30 Yonge Street
February 20th

Hockey Hall of Fame
on Family Day

Sport fans, watch out! The Hockey Hall of Fame decided to celebrate Family Day too, and on February 20th, kids under the age of 13 can visit the place for free — with the limit of four children per adult! Furthermore, every child will get a voucher for a free Chocolate Chip Muffin at Marché Restaurant, Brookfield Place. Bring your children and enjoy a number of games. Check out an NHL dressing room and explore the amazing collection of hockey sticks, pucks, sweaters, and the one and only Stanley Cup.

“Destination Discovery” Sleepover

770 Don Mills Road
March 3rd

Destination Discovery Sleepover

Adventure seekers, do not make plans for March 3rd! Destination Discovery Sleepover is where you have to be! Take your sleeping bag and spend the night (from 4:45 P.M. on Saturday until Sunday at 10:00 A.M.) in the Ontario Science Centre to discover everything it offers. An IMAX® movie, science activities, special shows, a virtual campfire, delicious snacks, and a hot breakfast will all contribute to this exciting experience. Interested? The price of this unforgettable night full of fun and discoveries is $59 — absolutely worth it!

You finally can understand why people compare crowd on street to ants when you look down from the top of one of our skyscrapers! Thank you for this stunning photo, EyeofJ!

This photo of a vintage Toronto streetcar was taken on the corner of Bay and Queen. Doesn't it make you think of the good old times? Thanks Oliver for this amazing photo!

A single actor performing for one audience member. Artists breaking out of the theatre and staging performances in the streets. A live animation and dance piece about a sexually confused mermaid. All this and more await you at Rhubarb 2012, taking place from February 8th to 19th.

The longest-running Canadian performance festival that features all-new and original works, Rhubarb returns for its 33rd year, bringing art-savvy Torontonians a heady mixture of theatre, dance, music, and video performances. Experimental by design, Rhubarb 2012 delves into politics, local history, and sexual identity through 35 projects by Canadian and international talent.

Mainstage Evenings

The festival is divided into several different types of performances. First, there are the Mainstage Evenings, which comprise the majority of pieces that take place at Buddies in Bad Times Theatre:

• A live action documentary on the G8 summit in Huntsville (The Little G8 That Could…)

• A cabaret act by New York artist Justin Vivian Bond

• Live music by up-and-coming local bands Light Fires and Yamantaka/Sonic Titan

• Performances centred on the human body, such as an exploration on Multiple Sclerosis (Affliction)

Mobile Works

Trust My Gut at The Rhubarb
Festival

Then, Mobile Works sets the show out onto the streets of Toronto, using either unknowing participants or city locales as part of the performance:

• Tom and Gary’s Decentralized Dance Party: bring your own boombox to a meeting location, set the FM dial to a given frequency, and start dancing to the music with other boom-boxing party people!

• A critical look at the effects of municipal cutbacks to the Toronto Reference Library (Department of Public Memory)

One-to-One Performances

If you’re looking for something radically different, check out the debut of One-to-One Performances, taking place at the 519 Community Centre. These works present one artist who performs for one audience member at a time:

• Your body becomes a musical instrument in a surround sound space (Klangkorper 2.0)

• An audio walking tour through Toronto that relates the emotions and memories of a person suffering from dementia (Walk with Me)

• A transgressive dress-up session (Gender Me).

Young Creators' Unit

Finally, a new generation of artists presents solo performances for Young Creators’ Unit:

• A young man deals with disguise and depression (Disease of Kings)

• Another man juggles his ethnic, national, and sexual identities (Speaking of Sneaking)

• A study in self-harm and self-love (Satan in Me)

With so many different topics, themes, settings, and disciplines present, you’re bound to find something entertaining and provoking at Rhubarb 2012. Don’t miss one of the most uncompromising arts festival in Canada this February.

About

Tickets

Mainstage Evenings: $20
One-on-One Performances and Young Creators’ Unit Presentations: pay-what-you-can
Mobile Works: FREE

Get tickets by phone at 416-975-8555 or in person at the Buddies box office at 12 Alexander St., just east of Yonge and Alexander.

More Information

For showtimes and more information, visit website of the Buddies in Bad Times Theatre.

All pictures courtesy of Buddies in Bad Times Theatre.

Sometimes nature itself created a beautiful installation. Thank you Chris for capturing this natural art!