Richmond city official flipping condo for 2x within year

By ThinkPol Staff

A Richmond city official is trying to flip a condo within a year of buying it at twice the price she paid for it, Thinkpol has found.

City of Richmond Community Facility Co-ordinator Renata Turick bought the unit at ‘The Pier’ at 6168 London Road for $639,900 in September 2016, documents obtained by ThinkPol and corroborated through Land Title and Survey Authority data show.

Turick listed the two-bedroom two-bathroom 1,067 Sq Ft unit for sale on MLS with a price tag of $1,298,000[1] within a year.

The flip was brought to Thinkpol’s attention by another City of Richmond official, who claimed that this was more common that people thought.

“If you ever wondered why the City of Richmond is doing less than even City of Vancouver to crackdown on rampant speculation, now you know why,” the official told Thinkpol on the condition of anonymity. “Richmond officials are profiting off this criminal enterprise.”

The whistleblower added that the city officials were turning a blind eye to money laundering and tax evasion running rampant in the city as they were profiting from illegal activities.

“It’s their personal cash cow,” the official added. “They know there’s a guaranteed return on investment. Endless supply of global criminals keep pumping proceeds crime in the market driving property prices up.”

The official claimed that the City of Richmond officials involvement in speculation explains their reluctance to take action against speculative development in the Agriculture Land Reserve where farmland is being converted into mega mansions[2]

“They don’t give two hoots about the Richmond taxpayers who pay their salaries ,” the whistleblower said. “It’s all about lining their pockets through playing the real estate market on the side.”

“When you get to write the rules, you always get to win,” the official concluded.

References   [ + ]


45 Responses to Richmond city official flipping condo for 2x within year

  1. AssHat900 says:

    Seize all property now!

  2. Joe Knacker says:

    This is a clear violation of fiduciary conduct and this official should be charged with criminal conflict of interest.

  3. Vanessa Clark says:

    Perhaps ask her how it’s going

  4. Julie Halfnights says:

    Get your facts straight. This is the family home of a recreation employee who has no influence nor any inside knowledge. The subject property was a pre-sale purchase and completion was delayed long past after the expected date. Many homeowners in Richmond, myself included, would have seen the same increase in value over the past 6 years.

  5. Anonymous says:

    Is this supposed to be journalism or a gossip rag…

  6. Anonymous says:

    This article is completely out of line. This is a private sale of a home and the employee in question has zero insider knowledge or influence. There are countless people making huge profits selling property. Why is one person being made an example of just because they work for the City of Richmond. I hope an article doesn’t come out about me when I sell this Spring and make more of a profit.

  7. Anonymous says:

    How is it criminal to list your condo two years after you bought it for what a Richmond condo is now selling for.. sounds like the whistleblower is jealous they didn’t get into the market a few years back. The article touches on money laundering and Richmond farmland which has nothing to do with the Richmond condo market… hope thinkpol gets sued for posting such trash.. check your facts or get out of the business of journalism

  8. Anonymous says:

    Get your facts straight and remove this article.

  9. Annonymous says:

    I hope you guys get sued!

  10. City of Richmond Employee says:

    This employee is not a City of Richmond official, does not work at City Hall and does not work in a position of influence, or have insider information. Shame on you for slandering her name. This is a private real estate listing of an owner occupied apartment. She should not be singled out and her workplace should not be published.

  11. Anonymous says:

    Has the City of Richmond been contacted for a comment? I would like to see what they have to say about the information from the whistleblower.

    • Anonymous says:

      The “whistleblower” or coward more like it… didn’t provide any information beside calling out someone that has done nothing wrong..

  12. Anonymous says:

    Shame on her, fillpers like her are the very reason why we have people living on the street. How could such person be in the public service?!

  13. Anonymous says:

    The whistleblower is blowing the whistle on nothing… selling a condo is not crime.. this story is a joke.. a bad and poorly written one at that.. people commenting on this non story that don’t know the facts should keep their mouth and the “whistleblower” should have their name published…

  14. Anonymous says:

    To be fair, her position as Area Coordinator of Sea Island Community Centre and Thompson Community Centre (source: City of Richmond’s website) won’t influence zoning or anything regarding housing policy, so her act is legal.

    HOWEVER, she’s absolutely GREEDY, 311-6168 London Rd has BC Assesment value of $890K, and she wants $1.128 million?? If she indeed sells at this price, she can get more than half million dollar TAX FREE by simply flipping her FAMILY HOME.

    Legal, well, but ethical?

    • Anonymous says:

      She isn’t flipping anything they have lived in the building since the construction was finish and the market will dictate what it sells for… and also keep in mind they will have to buy another place to live which has also gone up in value over the last few years… anyone can ask any price for their house that is not a crime

    • Bev says:

      Oh please , I’m sure you would turn down a profit on selling your home ….these statements are ridiculous.

    • Anonymous says:

      How is this not ethical? When selling your personal residence would you not want to get the most you could? The apartment is being sold by a reputable realtor and all water view condos in Steveston sfecwell over $1,000,000.

    • Anon says:

      Your actually asking if this is ethical? You’re a rediculous individual. Her home is listed not sold, if she gets the price it’s the market that’s paying her because that’s what it’s worth. If she sold it under value would there be an article boasting how “ethical”she was.

  15. Mark says:

    Has anyone reached out to the City of Richmond or directly to this employee for contact?

    • Hope you get sued says:

      Why should she or anyone at the city have to waste a breath on this? There is ABSOLUTELY NOTHING WRONG with what she’s done. If it wasn’t her doing It, it would have been someone else.

  16. Concerned City of Richmond Employee says:

    The employee in question has done absolutely nothing wrong. This is a personal sale of an owner occupied property. She is highly regarded in her career with the City of Richmond and her workplace has no influence or consideration on this sale.

  17. DAVID CURRIE says:

    The realtor who tried to shadow flip (oops sorry I should have said CRIMINAL) should be kicked out of the real estate business. Just proves to me that there are a lot of shady (oops I should have said CRIMINAL) realtors out there. Real estate board should have zero tolerance for this type of activity. As Mister Trump would say ‘You are FIRED’

  18. Anonymous says:

    fake news at its best… if selling a property in Richmond for more then what they paid for it was a crime everybody that has sold property in the last 15 years would be a criminal… better start building more jails really quick… thinkpol should be shut down for printing fake stories like this and calling journalism

  19. DAVID CURRIE says:

    OOPS, look like I posted my comment about the shadow flipping realtor under the wrong article. SORRY, however check out, to really see what (criminal) realtors get up to.

  20. Bev says:

    The author of this “story” should be fired. Since when is it a crime to ask whatever you want for your property that you have bought and paid for.
    No ones name should be posted , this seems very personal ….a true journalist would of checked their facts before ever writing this article. Why are the names of all the overseas land owners not published for purchasing property and leaving them empty for years, in hopes of flipping at some point, why are the names not published of owners buying property under the guise of farming , then build homes large enough for a small community to move into and plant a few blueberries and call it “farming”. I can list my condo for sale for any amount I want and my real estate agent should not be held accountable , my condo, my decision…..
    This is a disgrace, this women is owed an apology . I would never give your publication a positive review til you clean up your articles to actually state the truth that is what this community expects and deserves and so does Ms. Turick.

  21. Anonymous says:

    She is a private citizen selling a private property… doesn’t matter what the % is, someone selling above what they paid for it in Richmond, yes very news worthy story.. news flash housing market in Richmond/Vancouver is crazy, no shit Sherlock

  22. Anonymous says:

    Everyone is so defensive but for all you know there is more to this story. Until either Renata, the whistle blower or the City of Richmond comment or give facts there is no story here. It would not surprise me in the least if there was corruption and insider information amongst City officials but there is no evidence here.

  23. pissed off says:

    corruption needs to be rooted.

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