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April 19, 2012

Toronto blogger trading for a condo

Toronto blogger Charles Moffat started off small... a Hot Wheels 2008 Dodge Challenger worth $2. But he has a lofty goal called QUEST FOR A CONDO.

He is planning to trade the Hot Wheels car for a condo, but not all at once. He is trading it for something else, and something else, and eventually (after an estimated 17 trades) he should be able to trade it for a condo.

He is only on trade 2 now, but he is already up to a value of $56.

His first trade was with Brampton real estate agent Ryan Anderson, who traded him a Mastercraft Digital Multimeter Kit (usually used by electricians and electrical engineers).

In theory if he keeps trading for other things people don't need and the value keeps going up, plus the added viral component of his website, he will eventually make it to the condo. It might take him 20 trades or more, but its doable.

Blogger Kyle MacDonald did a similar thing in 2005. He started with a red paperclip and eventually got a farmhouse in Saskatechewan.

So it has been done before, but a condo in Toronto isn't cheap. The average price for a condo in downtown Toronto is $360,000.

I say more power to him! If he can pull it off he deserves it.

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