62: Getting Real Estate Built & Sold in BC with Ace Project Marketing Group's Chad MacTavish & Megan Michaluk

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back to Kelowna Real Estate
Podcast.

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I'm your host, mortgage broker,
Taylor Atkinson.

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And I'm your real estate agent
host, Matt Glenn.

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And man, Taylor, do I have an ace
up my sleeve today.

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Actually, two aces.

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I got the tip of the top, the big

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kahootus, the top looking down at
ace marketing, talking about all

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things ace, their projects, when
they started, what's going on.

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What do you think?
How was how was i mean we could

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call them the king and the queen
if we just want to keep rambling

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on these terrible analogies or dad
jokes whatever but yeah they were

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a lot of fun to chat to they've
got projects all over bc yeah and

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north fan kind of taken colonna
and bc by storm right base

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marketing yeah they seem to be
everywhere they are now selling

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water street the Park, which is
the tallest building in interior

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BC.

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It's going to be 42 stories, one

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of the towers.

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Now selling, by the way, so if you

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want to buy one, hit me up.

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Yeah, like you said, projects in

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Revelstoke, got Revo, which I
think there's units available

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there still.

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And then North Bend, I'm sure

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other places too.

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I think the island, I think they

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brought that up on the show.

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Yeah, and they seem to be doing

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some pretty cool stuff where they
generate some capital to get the

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projects off the ground.

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And as an investor, I think you

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can buy into that as the initial
investment and then transition

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into home ownership.

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So if you really want to invest,

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like start to finish, it's some
pretty cool projects there.

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But yeah, they were a ton of fun
to speak to.

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They do have an office downtown
Kelowna, so you can go chat with

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those guys.

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I feel like they're pretty open

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door policy.

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But yeah, like you said, they've

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got some awesome projects and I'm
excited to see Water Street by the

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Park complete.

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That will be an interesting one.

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Oh my God, me too.

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I can't wait to get to that top

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floor and look out.

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It's going to be wicked.

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Yeah.

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That is pretty cool.

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also trying to get one of their
colleagues on in the future

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talking about some interesting
financing perspective on some of

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their projects.

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We won't shed too much light on

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it, but basically like minimal,
minimal down payment to get into

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these.

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And then I think they like

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syndicate some of the rest to kind
of help homeowners.

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So transitioning into speaking
about helping homeowners, we do

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have some more breaking news.

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I feel like we need to podcast

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every day how much news is coming
Honestly, good thing we have this

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podcast, keeping the people
informed.

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There is shit coming out every
single week that we can talk

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about.

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It's you think after the political

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campaigns and the voting's done,
we won't have breaking news

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anymore?
Because honestly, I feel like all

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of these are just like, hey,
here's a good media tagline.

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Let's get some positive traction.

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Yeah, but like we're going to talk

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about the budget that just came
out.

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But that's federal.

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There's not even an election for

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like over a year away.

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Yeah.

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Provincial ones in the fall.

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So like that one at least makes

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sense.

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But like, yeah, like these are not

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even they're just changing shit,
dude.

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I was in a meeting today.

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I was talking to another person in

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the industry.

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And it just feels like we have

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rules changing all the day.

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We have these high interest rates.

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Like, man, you cannot catch a
break.

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It's actually good that we came on
the show to keep the people

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informed.

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I got to say, pat myself on the

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yeah, we'll talk about 30-year AM
insured product.

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So for those of you that don't
know, the most kind of common

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amortizations are 25 or 30-year.

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If it's a CMHC insured mortgage,

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and I say CMHC, but there's three
insurers.

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Generally, we do a 25-year
amortization.

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It's got to be under a million
dollars.

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It's got to be primary residence.

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So they've come back with this

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product in the mortgage industry,
stating that 30-year AMs are now

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possible as an insured product if
you're a first-time home buyer and

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if it's a new build.

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So it sounds great.

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I mean, I've been preaching that
they should be doing 30, 35, 40

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year amortization first time home
buyers to allow them to get into

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the market on insurable products.

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I think they used to be 35, right?

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It wasn't that long ago.

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Actually, my first property I

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bought, second property I bought,
I guess, was that.

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It was a 35 year am insured
mortgage.

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So why?
Why did they bring it down to 25

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and now 30?
Essentially what they're trying to

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do with all lending is restrict
our ability to spend, prices are

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kind of getting away and people's
budgets are getting out there.

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So obviously by giving someone a
30-year amortization option, we

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can qualify them more because the
monthly payments effectively less

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over 30 years.

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Where in there are some but where

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is there a new BC, home well, in
Canada that's less spots, than a

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million like, dollars that a
first-time home buyer is going to

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afford?
It's not very likely.

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I think it's a couple percent that
may actually be affected by this.

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Yeah.

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So it doesn't really do anything

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for affordability or helping
first-time home buyers.

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Like, I don't know anyone that's a
first-time home buyer that bought

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new construction.

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Something like Revel proposed to

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the show we have today, but they
have units in there.

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They had had them in the fours,
right?

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I mean, going to too, though,
developers and much like a home

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builder for a single family home,
they're going to want a larger

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deposit than 5%, which is the
insured product you're looking

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for.

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So then you have to jump that

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hurdle where the first-time
homebuyer is going to come up with

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20 or 30% down and then they get
that back out at time of closing.

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It hasn't been thought out, in my
opinion.

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Did the come up with a thing where
they secure the deposit or

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something like maybe that?
Just hearing you talk about this,

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instead of giving nobody a loan,
like for these developers that

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need 10%, I don't know.

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Well, they to do that program

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where you'd essentially like share
the down payment with the

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government.

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I think they just got rid of that

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program recently, but then they
would also share in the gain of

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the property.

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It's like you're getting in bed

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with a joint venture in the
government.

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Well, it's ridiculous.

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You're giving up your equity in

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the property that you're gaining,
right?

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Your appreciation when you sell,
then you give some of that to the

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government.

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For the RSP contribution, so they

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went from a $35,000 limit to a
$60,000 contribution as of April

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16th.

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I think that's not a bad idea.

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However, again, I don't know a lot
of first-time homebuyers that have

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$60,000 built up in an RSP.

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If you do, amazing.

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Contact Matt and I. I think what
they should have done is just

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allowed you to put more into your
first savings account like the

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tfsa one instead of doing 8 000
annually just you know don't put a

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cap on it i think both of those
were more media moves personally

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so i'm not super sold on it like
all these little things are good

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in theory but like how much time
and money are they wasting on the

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well they're also both like demand
side helping right like we need

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supply side yeah this is yeah this
is really not going to help

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affordability yeah it might help
some people get in but like

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they're not needle movers for no
no at all yeah the big one the one

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that's got everyone all fired up
is the capital gains increasing.

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It used to be you got taxed your
income on 50% of the gain and now

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it's 66% on the gain.

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Any gain over 250K, unless you buy

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it in a corp, then it's the whole
thing.

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Yeah.

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So as an individual, you're exempt

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from that two thirds capital gains
up to 250,000.

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Over that, it obviously is not.

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not, but as a business owner,

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there's no exemption.

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So your capital gains as a

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business owner has gone up.

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So if you're buying properties in

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a corp, like a lot of these people
do for multifamily commercial

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buildings and there's a gain on
that, well, yeah, that's a pretty

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big tax bill.

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So again, I don't think they're

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going at it with the right idea
because you're taking investors

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away from the market.

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Like who's investing in these?

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And then further to that, if you
are looking at selling and there's

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a huge gain, maybe people won't
sell and they're just going to

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refi and there's no taxable event.

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So, I mean, when we spoke with

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Brandon Augmentson, he's like, we
need more transactions.

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We need more listings.

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We don't need this restrictive

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play from the government.

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So, yeah, this, I think the major

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effect it's going to have on real
estate is there's going to be less

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listings.

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Yeah.

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Especially rental properties and
commercial buildings, right?

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Because $250,000 sounds like a
lot, but you buy a property and

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you hold the real estate for a
long time, which you should do 5,

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10, 15 years.

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You're making way more than

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$250,000 on that.

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Right?

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So I've heard a lot of people say
it's only top 1% of people are

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going to be affected by this.

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I'm like, that is just not true.

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Like a lot of people have rental
properties.

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Like I said, the value goes up
over time.

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So 250,000, it sounds like these
people are just rolling in money,

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but it's really not the case.

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Well, and I kind of like, it's not

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causing anything for
affordability.

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People aren't going to sell their
place cheaper.

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I guess it's just going to cause
less people to invest.

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But the only way you can mitigate
it is offsetting it with like RRSP

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contribution.

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Or like if you're a self-employed,

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you pay yourself a very minimal
amount.

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So really like from an income tax
perspective, people are going to

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try and avoid to pay the tax on
that gain by offsetting it

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somewhere else.

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So it's not like the government's

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coming away with any more on this.

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It was a very sneaky way to

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increase the capital gains when
they've always said they wouldn't.

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So the other one we wanted to
highlight quickly, we just had

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Brendan Augmentson on and one of
his recent posts was discussing

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inflation trends.

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So inflation is falling.

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It's actually negative now when
measured in a three to six month

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horizon, if we take out the cost
of rent.

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So basically the CPI that he's now
calculating is we're kind of in

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that recessionary market.

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Not looking great.

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If you didn't listen to that
episode, give it a listen.

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It was a lot of fun chatting to
him.

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It was a lot of fun talking to
him.

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00:08:24,000 --> 00:08:25,843
That's interesting though, that
like the housing is keeping the

250
00:08:25,843 --> 00:08:28,344
inflation going and the mortgage
rates because of that.

251
00:08:28,344 --> 00:08:30,349
It's like, come on, man.

252
00:08:30,249 --> 00:08:30,372
Yeah.

253
00:08:30,372 --> 00:08:30,557
Yeah.

254
00:08:30,557 --> 00:08:32,816
Just a lot of people are hurting

255
00:08:32,716 --> 00:08:35,409
out there and are starting to bite
and just feel it.

256
00:08:35,409 --> 00:08:38,861
So I hope that things change
there.

257
00:08:38,760 --> 00:08:38,928
Yeah.

258
00:08:38,928 --> 00:08:42,383
We'll see what happens over the

259
00:08:42,383 --> 00:08:45,769
next seven days and then we'll
have more news for you.

260
00:08:45,669 --> 00:08:47,112
But until then, listen to this
show.

261
00:08:47,112 --> 00:08:49,035
It was a lot of fun.

262
00:08:49,035 --> 00:08:51,680
Reach out to Megan and Chad if

263
00:08:51,680 --> 00:08:53,318
you're interested in any of their
projects.

264
00:08:53,318 --> 00:08:56,547
And if you're looking for an agent
to write a contract on it, then

265
00:08:56,447 --> 00:08:57,013
you know where to find Matt.

266
00:08:57,013 --> 00:08:58,074
One other really positive thing,

267
00:08:58,074 --> 00:08:59,744
Matt and I were contacted through
our Instagram, Colonial Real

268
00:08:59,844 --> 00:09:02,638
Estate Podcast from a guy named
Adam and his wife, Kai Kai, the

269
00:09:02,638 --> 00:09:04,433
label, bamboo and organic cotton,
toddler apparel.

270
00:09:04,533 --> 00:09:08,478
So he's going to hook us up, well,
hook our kids up with some sleep

271
00:09:08,478 --> 00:09:09,076
sacks and onesies.

272
00:09:09,076 --> 00:09:10,437
And yeah, that is amazing, man.

273
00:09:10,437 --> 00:09:11,176
I'm stoked on that.

274
00:09:11,176 --> 00:09:13,220
That was awesome that he reached

275
00:09:13,220 --> 00:09:13,400
out.

276
00:09:13,400 --> 00:09:14,060
So stoked.

277
00:09:14,060 --> 00:09:16,460
My wife immediately opens his
Instagram, goes through it, and is

278
00:09:16,460 --> 00:09:18,624
just in love with all the stuff.

279
00:09:18,624 --> 00:09:19,912
He's sending your friends all the

280
00:09:19,912 --> 00:09:20,068
things.

281
00:09:20,068 --> 00:09:21,332
Because obviously when you have a

282
00:09:21,332 --> 00:09:23,237
baby, when you have a
one-year-old, this is like huge

283
00:09:23,237 --> 00:09:23,700
news.

284
00:09:23,960 --> 00:09:25,618
So the fact that he reached out to

285
00:09:25,618 --> 00:09:28,160
give us some merch, we're supposed
to be the ones giving out merch.

286
00:09:28,400 --> 00:09:30,881
And he's giving it to We had to
shout us.

287
00:09:30,881 --> 00:09:34,756
him out because, that was wow, So
the awesome.

288
00:09:34,756 --> 00:09:37,600
fact that he reached out to give
us some we're supposed merch, to

289
00:09:37,780 --> 00:09:41,404
be the ones giving out merch and
he's giving it to us.

290
00:09:41,404 --> 00:09:43,960
We had to shout him out because
wow, that was awesome.

291
00:09:43,960 --> 00:09:45,240
Yeah, love that.

292
00:09:45,460 --> 00:09:47,249
That's the best kind of support we

293
00:09:47,249 --> 00:09:47,699
can get.

294
00:09:47,699 --> 00:09:48,846
I don't know, whoever has kids,

295
00:09:48,846 --> 00:09:51,827
you know that they love their
sleep sack.

296
00:09:51,827 --> 00:09:53,646
yeah, yeah, it was awesome.

297
00:09:53,746 --> 00:09:54,023
Yeah, yeah.

298
00:09:54,023 --> 00:09:56,826
This will come out on Monday, but
he's going to be at the Kelowna

299
00:09:56,826 --> 00:09:58,280
Home Show this weekend.

300
00:09:58,280 --> 00:09:58,480
Yeah.

301
00:09:58,465 --> 00:09:59,624
So you probably met him if you
weren't there.

302
00:09:59,721 --> 00:10:00,699
So pretty cool company.

303
00:10:00,684 --> 00:10:01,100
Definitely them.

304
00:10:01,380 --> 00:10:02,892
Give them a follow on Instagram
and check them out and always

305
00:10:02,951 --> 00:10:03,686
appreciate the listeners
supporting us.

306
00:10:03,686 --> 00:10:04,959
And this show, like every show, is
sponsored by the best brokerage in

307
00:10:04,926 --> 00:10:05,033
Kelowna, Century 21 Assurance
Realty.

308
00:10:05,010 --> 00:10:05,521
It's the brokerage with the most
help, the most inclusive.

309
00:10:05,330 --> 00:10:05,900
Like being an agent, you're on
your own, but you're not alone at

310
00:10:05,760 --> 00:10:05,827
this brokerage.

311
00:10:05,794 --> 00:10:06,021
If you ever thought about making

312
00:10:05,997 --> 00:10:07,354
the change to another brokerage or
even just talking to Max about it

313
00:10:07,454 --> 00:10:09,914
or talking to Dean, they're open
for a call.

314
00:10:09,914 --> 00:10:10,844
I would give them a call.

315
00:10:10,844 --> 00:10:11,330
Explore your options.

316
00:10:11,325 --> 00:10:12,734
It's a great place to be.

317
00:10:12,734 --> 00:10:13,471
I love it here.

318
00:10:13,449 --> 00:10:14,120
Enjoy the show.

319
00:10:14,713 --> 00:10:16,600
Ace Marketing, Chad and Megan,

320
00:10:16,880 --> 00:10:17,633
welcome to the show.

321
00:10:17,587 --> 00:10:18,200
Thanks for joining us.

322
00:10:18,240 --> 00:10:18,755
for having us.

323
00:10:18,755 --> 00:10:19,813
Thank you so much for having us.

324
00:10:19,785 --> 00:10:22,622
We'd like to start our show, just
you connecting with our listener.

325
00:10:22,622 --> 00:10:24,560
What's your perfect Friday look
like?

326
00:10:25,280 --> 00:10:27,618
Productivity?
What do you do, you know, in the

327
00:10:27,618 --> 00:10:28,787
office and then leading into the
weekend?

328
00:10:28,787 --> 00:10:33,537
What do you do for a bit of fun?
Megan, would you like to start?

329
00:10:33,537 --> 00:10:37,196
I feel like my response is going
to be incredibly underwhelming.

330
00:10:37,196 --> 00:10:41,613
We really do put a lot of our time
and energy into our relatively new

331
00:10:41,613 --> 00:10:42,193
company of Ace.

332
00:10:42,080 --> 00:10:43,720
So yeah, outside of work, it's all

333
00:10:43,620 --> 00:10:45,858
about my puppy and hitting the
trails with my dog.

334
00:10:45,858 --> 00:10:49,018
And I read a lot as well, but
that's kind of my life.

335
00:10:49,018 --> 00:10:51,645
I used to travel a lot, but that's
been put on pause for a little

336
00:10:51,645 --> 00:10:51,840
while.

337
00:10:51,940 --> 00:10:53,548
Now you're just traveling to work.

338
00:10:53,648 --> 00:10:53,852
Exactly.

339
00:10:53,752 --> 00:10:55,118
Now I just travel domestically for

340
00:10:55,118 --> 00:10:55,460
work.

341
00:10:59,066 --> 00:10:59,274
Exactly.

342
00:10:59,374 --> 00:11:01,698
you're just morning, usually take
the dogs out.

343
00:11:01,798 --> 00:11:03,360
I have two Great Danes.

344
00:11:03,913 --> 00:11:05,095
One is nine and one is two.

345
00:11:05,095 --> 00:11:06,755
They are monsters, but they're
pretty well behaved.

346
00:11:06,755 --> 00:11:07,430
So I'm very lucky.

347
00:11:07,430 --> 00:11:10,159
We usually go to the Cedar Creek

348
00:11:10,159 --> 00:11:10,664
Dog Park.

349
00:11:10,664 --> 00:11:12,749
So we start off there just to keep

350
00:11:12,649 --> 00:11:14,540
kind of my mind from getting too
busy on a Friday morning.

351
00:11:14,540 --> 00:11:15,116
Usually try to meditate for 30
minutes.

352
00:11:15,116 --> 00:11:18,197
20, I know that sounds but it
works cliche, so well.

353
00:11:18,197 --> 00:11:19,173
So I love it.

354
00:11:19,173 --> 00:11:22,209
Then what I try to do is meet with

355
00:11:22,209 --> 00:11:27,108
one or two of the staff or have
breakfast and then another

356
00:11:27,108 --> 00:11:29,991
breakfast and then kind of start
the day off.

357
00:11:29,991 --> 00:11:34,355
partners, But it's worked and then
it kind of gets you ready for the

358
00:11:34,355 --> 00:11:34,733
weekend.

359
00:11:34,733 --> 00:11:37,003
Being in project all of our sales

360
00:11:37,003 --> 00:11:38,328
staff works throughout marketing,
the weekend.

361
00:11:38,328 --> 00:11:41,071
So get of they go on their way.

362
00:11:41,071 --> 00:11:41,260
Yeah.

363
00:11:41,260 --> 00:11:44,159
So you Ace has kind guys, of hit
the ground running here because

364
00:11:44,059 --> 00:11:44,932
you guys are everywhere.

365
00:11:44,932 --> 00:11:42,604
And obviously we're Kelowna Real

366
00:11:42,604 --> 00:11:50,346
Estate but you guys are beyond
that.

367
00:11:50,346 --> 00:11:52,063
Kelowna, Podcast, We focus on
three major areas.

368
00:11:52,063 --> 00:11:54,615
We have Master Planner Resort
Communities, which Chad is

369
00:11:54,715 --> 00:11:56,700
definitely a pioneer in that area.

370
00:11:56,760 --> 00:11:58,051
Obviously, the Okanagan is our

371
00:11:58,051 --> 00:11:58,659
bread and butter.

372
00:11:58,659 --> 00:12:00,385
This is where our head office is

373
00:12:00,385 --> 00:12:00,955
right now.

374
00:12:00,955 --> 00:12:02,452
And we also have some very

375
00:12:02,452 --> 00:12:03,943
exciting big projects coming up on
the island.

376
00:12:03,943 --> 00:12:07,702
And we have a couple under our
belt that are currently selling

377
00:12:10,120 --> 00:12:10,327
right now.

378
00:12:10,153 --> 00:12:10,380
And most recently, we added North

379
00:12:10,333 --> 00:12:11,010
Vancouver to the portfolio.

380
00:12:10,975 --> 00:12:19,058
and that's largely because of

381
00:12:19,009 --> 00:12:19,059
Chad.

382
00:12:19,012 --> 00:12:19,120
He's pretty much sold everything

383
00:12:19,026 --> 00:12:19,081
in North Vancouver.

384
00:12:19,034 --> 00:12:19,084
yeah.

385
00:12:19,036 --> 00:12:19,120
So, to sell everything.

386
00:12:19,059 --> 00:12:19,119
It's funny.

387
00:12:19,072 --> 00:12:19,120
We have a new project with
Fairborn Homes.

388
00:12:19,105 --> 00:12:21,506
Fairborn is one of the most
established developers on the

389
00:12:21,479 --> 00:12:21,760
North Shore, one of the best
developers, and he has constantly

390
00:12:25,380 --> 00:12:25,560
brought product out.

391
00:12:25,444 --> 00:12:25,560
developers and he has constantly

392
00:12:25,491 --> 00:12:25,560
brought product out.

393
00:12:25,531 --> 00:12:30,762
So he found out we were really

394
00:12:30,723 --> 00:12:34,577
kind of building in different
areas and he was working with

395
00:12:34,388 --> 00:12:38,270
another company and invited us to
come down and see his project and

396
00:12:38,232 --> 00:12:38,300
brought us on.

397
00:12:38,255 --> 00:12:38,300
We put together a team and we have

398
00:12:38,323 --> 00:12:42,457
a few more things popping up in
North Van.

399
00:12:42,357 --> 00:12:45,845
I think between myself and a few
people on the team, we've done

400
00:12:45,845 --> 00:12:48,918
about eight or nine buildings
throughout the North Shore.

401
00:12:48,918 --> 00:12:52,155
So anywhere you look from first to
upper Lonsdale is Fairborn

402
00:12:52,155 --> 00:12:52,464
Project.

403
00:12:52,564 --> 00:12:54,009
So it's look from first to upper

404
00:12:54,009 --> 00:12:55,678
lawn sale is Fairborn Project.

405
00:12:55,678 --> 00:12:56,711
So it's a great relationship.

406
00:12:56,711 --> 00:12:58,979
And that's what we're all about,
working with developers and

407
00:12:58,979 --> 00:13:01,315
growing with people that we've
created that relationship with.

408
00:13:01,315 --> 00:13:03,487
So it's more longevity for us.

409
00:13:03,487 --> 00:13:04,981
from North Vancouver originally?

410
00:13:04,981 --> 00:13:07,847
No, I'm not.

411
00:13:07,687 --> 00:13:07,857
I'm from Regina, Saskatchewan.

412
00:13:07,820 --> 00:13:14,836
So I used to come out to BC
growing up every summer, pretty

413
00:13:14,836 --> 00:13:17,810
much the day school was done,
they'd get me on a plane.

414
00:13:17,810 --> 00:13:21,557
I'd go from Victoria to the island
to Whistler and kind of rotate

415
00:13:21,557 --> 00:13:21,676
through.

416
00:13:21,676 --> 00:13:26,399
And the day before school went

417
00:13:26,399 --> 00:13:27,195
back, they'd send me back.

418
00:13:27,195 --> 00:13:27,992
So I'm from Regina, but I've been

419
00:13:27,992 --> 00:13:28,821
out here since I was 19.

420
00:13:28,821 --> 00:13:29,945
BC is I guess what's your biggest

421
00:13:29,873 --> 00:13:31,020
value add?
Like we'll talk about kind of the

422
00:13:31,020 --> 00:13:33,050
Kelowna projects you guys have
going on as a marketing company.

423
00:13:33,050 --> 00:13:35,080
What do you add to developers and
kind of end consumer?

424
00:13:35,080 --> 00:13:37,489
Like what's your biggest strength,
I there's a few for sure.

425
00:13:37,489 --> 00:13:40,069
I mean, there are a few things
that definitely set us apart from

426
00:13:40,069 --> 00:13:42,926
the competition and there is some
fierce competition out there.

427
00:13:42,926 --> 00:13:44,726
So I think there's enough business
to go around for everybody though,

428
00:13:44,611 --> 00:13:45,240
as you guys know, it's booming.

429
00:13:45,126 --> 00:13:46,063
We've stayed resilient through a

430
00:13:46,063 --> 00:13:48,802
really tough market, but I think
ACE has created something really

431
00:13:48,802 --> 00:13:52,801
special here in that the core team
that got this company going, we've

432
00:13:52,701 --> 00:13:54,578
just built on that kind of magical
recipe.

433
00:13:54,563 --> 00:13:59,010
And it's a really inclusive team
and a really diverse team of

434
00:13:59,010 --> 00:14:01,025
individuals who have a unique,
different skillset that they bring

435
00:14:01,025 --> 00:14:04,066
to the table, whether it's resort
or whether it's condo, whether

436
00:14:04,066 --> 00:14:05,124
it's urban, whether it's
recreational, like all these

437
00:14:05,124 --> 00:14:05,793
different facets.

438
00:14:05,793 --> 00:14:07,464
So we do have a very strong team

439
00:14:07,464 --> 00:14:09,080
behind us with a ton of
experience.

440
00:14:09,080 --> 00:14:12,465
So yes, ACE is approaching a four
year but us, there's like 20 plus

441
00:14:12,465 --> 00:14:15,591
years, you know, on an individual
basis, collectively, I don't even

442
00:14:15,591 --> 00:14:17,378
want to know the number.

443
00:14:17,378 --> 00:14:19,227
It's too much, you guys are also

444
00:14:19,227 --> 00:14:23,365
kind of a large company like how
many how big is it so right now we

445
00:14:23,365 --> 00:14:26,562
are 45 48 people and that's from
kootenays to vancouver island to

446
00:14:26,562 --> 00:14:30,761
here in north van salespeople come
and go and we try to give them an

447
00:14:30,761 --> 00:14:34,280
open door to come back but no it's
crazy to see starting with like

448
00:14:34,280 --> 00:14:38,344
seven or eight of us for two years
and then growing this way and just

449
00:14:38,344 --> 00:14:41,622
because we take a lot of time
making sure we're putting the

450
00:14:41,622 --> 00:14:44,605
right fits together that fit with
the developers first and foremost,

451
00:14:44,605 --> 00:14:48,591
but then us in the same room
together, it's exciting every day.

452
00:14:48,591 --> 00:14:52,400
but then No When you guys work
with developers, you help with the

453
00:14:52,500 --> 00:14:55,874
acquisition and you're involved in
the project from the start, kind

454
00:14:55,874 --> 00:14:58,013
of helping design it or how does
that?

455
00:14:58,113 --> 00:15:01,469
Yeah, I mean, the design aspect of
it, it's funny you ask.

456
00:15:01,469 --> 00:15:05,868
We just had a meeting right before
this with an architect kind of

457
00:15:05,868 --> 00:15:07,513
moving into the development realm.

458
00:15:07,513 --> 00:15:09,347
We can step in at any given time.

459
00:15:09,347 --> 00:15:10,136
Ideally, the earlier the better.

460
00:15:10,236 --> 00:15:11,847
We absolutely help our developers

461
00:15:11,847 --> 00:15:17,368
in the really early days if they
want that help to find land or

462
00:15:17,268 --> 00:15:17,377
assemblies.

463
00:15:17,377 --> 00:15:19,627
We work with key people in the

464
00:15:19,627 --> 00:15:22,544
industry who will go door knocking
and find some really

465
00:15:22,544 --> 00:15:24,748
strategically, assemblies and
sites for us that they'll put

466
00:15:24,748 --> 00:15:27,981
together for our developers that
we've had a lot of success with

467
00:15:27,981 --> 00:15:28,201
that.

468
00:15:28,201 --> 00:15:30,552
I mean, the market is so, you

469
00:15:30,552 --> 00:15:33,882
know, once it's listed, it's such
fierce competition again, but so

470
00:15:33,882 --> 00:15:35,858
it is important to work with key
individuals, you know, leading

471
00:15:35,858 --> 00:15:37,219
industry in other realms of
property development.

472
00:15:37,219 --> 00:15:39,485
So that is definitely a benefit to
us.

473
00:15:39,485 --> 00:15:43,053
But sometimes they bring a piece
of land to us and they say, this

474
00:15:43,053 --> 00:15:44,134
is what I have.

475
00:15:44,134 --> 00:15:45,363
What should we put on it?

476
00:15:45,363 --> 00:15:47,260
And like, we'll come in subsequent
phases after that.

477
00:15:47,251 --> 00:15:49,734
Sometimes it's already with the
architect, DPs are in, they just

478
00:15:49,734 --> 00:15:49,624
want the sales and marketing, you
know, but I think the commonality

479
00:15:52,900 --> 00:15:54,687
amongst all the developers and
Chad touched on it, like truly,

480
00:15:54,606 --> 00:15:56,859
like from our heart of hearts,
relationships are everything for

481
00:15:56,859 --> 00:15:57,026
us.

482
00:15:57,026 --> 00:15:58,458
It's what drives the business

483
00:15:58,458 --> 00:15:58,974
development side of it.

484
00:15:58,954 --> 00:16:00,255
It's what maintains the

485
00:16:00,155 --> 00:16:02,385
relationships because this is a
roller coaster that we're about to

486
00:16:02,385 --> 00:16:02,805
get on together.

487
00:16:02,805 --> 00:16:04,772
So we'd better have a great, you

488
00:16:04,772 --> 00:16:06,720
know, start out the gate with it.

489
00:16:07,300 --> 00:16:08,469
And that means having a good

490
00:16:08,469 --> 00:16:11,696
rapport, having similar morals,
having integrity, wanting to do

491
00:16:11,696 --> 00:16:15,818
good work and create good product
and a good value proposition for

492
00:16:15,818 --> 00:16:17,529
the buyers and all the rest.

493
00:16:17,529 --> 00:16:18,960
So we're really lucky.

494
00:16:18,960 --> 00:16:22,247
We have a great database of
developers that we work with and

495
00:16:22,247 --> 00:16:25,674
we're keeping the pipeline full
with them and they're

496
00:16:25,674 --> 00:16:26,793
collaborative, which is really
important.

497
00:16:26,793 --> 00:16:30,474
It allows us to stay agile and
pivot in a volatile market where

498
00:16:30,474 --> 00:16:32,423
we really need to stay on our
toes.

499
00:16:32,523 --> 00:16:34,671
I mean, you guys see it firsthand.

500
00:16:34,671 --> 00:16:36,931
What does the buyer want right

501
00:16:36,931 --> 00:16:38,510
now?
I mean, most of the media

502
00:16:38,510 --> 00:16:41,281
attention is on affordable housing
and legislation changes.

503
00:16:41,281 --> 00:16:44,425
We need more units on the market.

504
00:16:44,425 --> 00:16:46,440
If it was that easy, then

505
00:16:46,540 --> 00:16:48,744
developers would just put cookie
cutter 500 square foot, know,

506
00:16:48,744 --> 00:16:49,941
throwing them up like row houses.

507
00:16:49,941 --> 00:16:51,318
But does the end consumer really

508
00:16:51,318 --> 00:16:52,793
want that?
Like, what's the easiest thing for

509
00:16:52,793 --> 00:16:56,886
you guys to sell?
Like, is it a two bedroom, a three

510
00:16:56,786 --> 00:16:57,996
bedroom?
Are they looking for granite

511
00:16:57,996 --> 00:17:00,446
countertop, quartz, stainless
amenities, or is price more

512
00:17:00,346 --> 00:17:02,580
important?
Like what's kind of the driving So

513
00:17:02,580 --> 00:17:06,146
with the UVC campus coming
downtown, it really opens up the

514
00:17:06,146 --> 00:17:07,535
door for all different products.

515
00:17:07,435 --> 00:17:09,400
So developers, if they're looking

516
00:17:09,680 --> 00:17:12,619
for something more affordable and
maybe smaller square footage to

517
00:17:12,619 --> 00:17:16,269
rent out for a student, now that
Airbnb is no longer, there's

518
00:17:16,269 --> 00:17:18,481
options that we have in our
portfolio like Revo.

519
00:17:18,481 --> 00:17:22,017
Or if you're looking for a tower
lifestyle with more amenities than

520
00:17:22,017 --> 00:17:24,817
Cologne has ever seen, you'd be
looking at Water Street.

521
00:17:24,717 --> 00:17:27,729
And then also the different
townhome projects we have.

522
00:17:27,729 --> 00:17:30,004
A lot of people right now are just
coming in.

523
00:17:30,004 --> 00:17:32,186
They want to get into this market.

524
00:17:32,186 --> 00:17:32,830
They're leaving Vancouver.

525
00:17:32,830 --> 00:17:34,024
They're leaving Surrey.

526
00:17:33,924 --> 00:17:34,375
They're leaving Burnaby.

527
00:17:34,375 --> 00:17:35,340
They're leaving Coquitlam.

528
00:17:35,340 --> 00:17:37,925
And they want a place to call home

529
00:17:37,925 --> 00:17:39,648
or to come back and forth.

530
00:17:39,648 --> 00:17:42,858
So right now, it's about just

531
00:17:42,758 --> 00:17:44,327
having a number of different
products selling.

532
00:17:44,327 --> 00:17:47,913
And because so many people are
going to be looking at going to

533
00:17:47,913 --> 00:17:50,924
rental instead of for sale, I
think you're going to see the

534
00:17:50,924 --> 00:17:53,161
inventory here, especially on new
product, get very small very

535
00:17:53,161 --> 00:17:53,277
quickly.

536
00:17:53,277 --> 00:17:53,451
Absolutely.

537
00:17:53,451 --> 00:17:55,657
I mean, we saw it happen with
Revo.

538
00:17:55,657 --> 00:17:59,073
And Revo is with one of our
amazing development partners, Ryan

539
00:17:59,073 --> 00:17:59,670
Tamblyn of Millennial
Developments.

540
00:17:59,770 --> 00:18:03,552
And it was the sister project to
the previously launched and hugely

541
00:18:03,552 --> 00:18:04,580
successful Five Crossings.

542
00:18:04,580 --> 00:18:04,979
Award winning.

543
00:18:04,979 --> 00:18:05,841
Yeah, award winning.

544
00:18:05,841 --> 00:18:06,306
Thank you.

545
00:18:06,306 --> 00:18:06,505
Yes.

546
00:18:06,505 --> 00:18:09,318
But we saw in that from the summer

547
00:18:09,318 --> 00:18:11,107
prior where the market was still
very hot and very strong, Five

548
00:18:11,207 --> 00:18:12,384
Crossings was about 80% micro
units.

549
00:18:12,384 --> 00:18:16,625
So micro studios, that's 312, 313
square feet, hugely successful.

550
00:18:16,625 --> 00:18:20,584
That Thank listens to the city
council, to the buyer feedback and

551
00:18:20,584 --> 00:18:21,176
all the rest.

552
00:18:21,176 --> 00:18:22,892
So we made a change.

553
00:18:22,892 --> 00:18:27,466
There are a lot more units and a
lot bigger variety of units in

554
00:18:27,466 --> 00:18:27,665
Revo.

555
00:18:27,665 --> 00:18:30,188
And when we launched was like

556
00:18:30,188 --> 00:18:33,442
right in the thick of things going
a little sideways in the market.

557
00:18:33,442 --> 00:18:35,965
But we had huge success with the
really efficiently designed

558
00:18:35,965 --> 00:18:37,160
two-bedroom floor plan.

559
00:18:37,320 --> 00:18:38,427
That was definitely the most

560
00:18:38,427 --> 00:18:39,257
highly sought after.

561
00:18:39,257 --> 00:18:40,972
Yeah, with that project, we sold

562
00:18:40,972 --> 00:18:41,858
in the fall, right?
Yeah.

563
00:18:41,858 --> 00:18:44,023
So we're just cresting 160 homes
under contract.

564
00:18:44,023 --> 00:18:47,310
The team did six last week, a few
studios, some one bedrooms and a

565
00:18:47,310 --> 00:18:47,537
townhome.

566
00:18:47,537 --> 00:18:48,500
So the developer's happy,

567
00:18:48,500 --> 00:18:48,703
developer's great.

568
00:18:48,703 --> 00:18:50,575
And one of the best parts about

569
00:18:50,575 --> 00:18:53,844
what we do as well is the
developers we're working with,

570
00:18:53,844 --> 00:18:55,347
they're one of our main source of
business as well.

571
00:18:55,347 --> 00:18:58,052
So they're the ones passing over
other people that they know in the

572
00:18:58,052 --> 00:19:01,360
industry, which has helped us grow
the way units are left at Revel?

573
00:19:01,360 --> 00:19:03,826
So right now, I think we are at
65, 70.

574
00:19:03,926 --> 00:19:04,268
Okay.

575
00:19:04,168 --> 00:19:06,940
So this is going to be a few few

576
00:19:06,840 --> 00:19:07,662
weeks out.

577
00:19:07,662 --> 00:19:10,060
So that number would probably be a

578
00:19:10,500 --> 00:19:13,698
little get on it have the data on,
are people buying them as rentals

579
00:19:13,698 --> 00:19:16,902
or are they homeowners?
Do you With that project, for the

580
00:19:16,902 --> 00:19:19,833
one bedroom, two bedrooms and
three bedrooms, those are people

581
00:19:19,833 --> 00:19:22,765
that are looking to move full
time.

582
00:19:22,765 --> 00:19:26,678
But now with Airbnb changing,
you're going to find a lot of

583
00:19:26,678 --> 00:19:29,340
people that want to have that
opportunity to either have their

584
00:19:29,340 --> 00:19:34,592
kid or cousin or brother move up
here and go to school or have that

585
00:19:34,492 --> 00:19:36,734
option to just rent it out.

586
00:19:36,734 --> 00:19:39,279
Hopefully at a higher rental

587
00:19:25,509 --> 00:19:43,806
amount going forward now that that
law is being put into place.

588
00:19:43,806 --> 00:19:46,865
So you're seeing a lot of people
that are looking at it for an

589
00:19:46,865 --> 00:19:50,185
investment to put a student or a
tiree in because these buildings

590
00:19:50,185 --> 00:19:51,784
have crazy amounts of amenities as
well.

591
00:19:51,784 --> 00:19:54,245
What's great with Revo and what
was amazing about Five Crossings

592
00:19:54,245 --> 00:19:56,463
is these developments are being
put together with more amenities

593
00:19:56,463 --> 00:20:00,548
than a wood-framed building has
ever seen in Kelowna, from cold

594
00:20:00,548 --> 00:20:02,835
plunges to outside movie theaters
to workspaces.

595
00:20:02,823 --> 00:20:04,869
It's just the amount of detail and
thought and the functionality.

596
00:20:04,869 --> 00:20:09,257
So even if you're in a smaller
space, you have all these

597
00:20:09,257 --> 00:20:10,789
different places to go throughout
the building.

598
00:20:10,789 --> 00:20:15,040
And it's quite remarkable what
Millennial and a few of our other

599
00:20:15,160 --> 00:20:15,687
developers have put Nice.

600
00:20:15,687 --> 00:20:16,836
Kind of circles back to like the

601
00:20:16,836 --> 00:20:19,350
original question I had is, is
affordability really that

602
00:20:19,350 --> 00:20:20,464
important?
But then when you're talking about

603
00:20:20,464 --> 00:20:23,060
like cold plunges and saunas and
like, yeah, I want that.

604
00:20:23,060 --> 00:20:23,769
Everyone wants that.

605
00:20:23,769 --> 00:20:25,167
It's just, I guess, as a

606
00:20:25,167 --> 00:20:29,518
developer, like you're in this
rock and a hard place, like, okay,

607
00:20:29,518 --> 00:20:33,584
you want it affordable, but you
also want a cold plunge and a bike

608
00:20:33,584 --> 00:20:34,873
station and a dog walk station.

609
00:20:34,873 --> 00:20:36,360
And so it's good.

610
00:20:36,360 --> 00:20:41,200
You guys are able to like try and
find that balance and help the

611
00:20:41,400 --> 00:20:42,105
developers that way.

612
00:20:42,105 --> 00:20:42,952
Geographically, where do you find

613
00:20:42,952 --> 00:20:45,279
developers are like hungriest for
those land assemblies in Kelowna?

614
00:20:45,279 --> 00:20:48,098
Like what's kind of the best area
to develop right now?

615
00:20:48,098 --> 00:20:48,842
It really depends.

616
00:20:48,842 --> 00:20:50,264
Every developer kind of has their

617
00:20:50,264 --> 00:20:52,486
most important list of criteria.

618
00:20:52,486 --> 00:20:54,412
Some of them have the option to be

619
00:20:54,412 --> 00:20:55,967
more flexible with it.

620
00:20:55,967 --> 00:20:57,596
Some of it's driven purely by

621
00:20:57,596 --> 00:20:58,188
price point.

622
00:20:58,188 --> 00:21:00,410
Some of them don't have to be more

623
00:21:00,410 --> 00:21:01,595
flexible with Some it.

624
00:21:01,595 --> 00:21:03,587
of it's driven purely by price

625
00:21:03,587 --> 00:21:03,718
point.

626
00:21:03,718 --> 00:21:05,909
Some of them don't have to worry

627
00:21:05,909 --> 00:21:08,485
about that so much because maybe
they can hold the land for a

628
00:21:08,482 --> 00:21:10,229
little bit longer until the
numbers start to make a little

629
00:21:10,229 --> 00:21:11,164
more sense.

630
00:21:11,164 --> 00:21:12,800
What a lot of the people I'm

631
00:21:12,800 --> 00:21:16,702
working with or our internal team
is they're looking for if it's in

632
00:21:16,702 --> 00:21:17,244
Penticton, larger sites.

633
00:21:17,244 --> 00:21:18,380
If it's in Summerland or

634
00:21:18,377 --> 00:21:20,841
Peachland, they're looking for
either town-owned developments or

635
00:21:20,841 --> 00:21:22,441
more compact square footage.

636
00:21:22,441 --> 00:21:24,169
If you're looking in Cologne,

637
00:21:24,169 --> 00:21:25,540
you're looking in Glenmore.

638
00:21:25,700 --> 00:21:27,121
You're looking in Rutland.

639
00:21:27,121 --> 00:21:29,979
You're looking in the Lower
Mission.

640
00:21:29,879 --> 00:21:32,936
And downtown, there's a lot of
sites that are being held.

641
00:21:33,036 --> 00:21:35,744
And you're probably not going to
see the same developers do those

642
00:21:35,744 --> 00:21:35,909
sites.

643
00:21:35,909 --> 00:21:38,318
So you're going to see a lot of

644
00:21:38,218 --> 00:21:40,380
the larger sites that have been
held kind of change hands.

645
00:21:40,380 --> 00:21:43,963
And then in Vernon, you're seeing
a lot of homes, like lots of homes

646
00:21:43,963 --> 00:21:44,900
selling like crazy.

647
00:21:44,900 --> 00:21:46,341
So in these sites, it's different

648
00:21:46,324 --> 00:21:46,922
for everything.

649
00:21:46,922 --> 00:21:48,300
But those would be the main.

650
00:21:48,300 --> 00:21:51,125
Like it Like it really is
different out of the four

651
00:21:51,025 --> 00:21:53,314
developers that I'm actively
looking for land and assemblies

652
00:21:53,314 --> 00:21:54,039
right now.

653
00:21:53,939 --> 00:21:54,622
They're all different.

654
00:21:54,622 --> 00:21:56,613
One of them is specifically
looking for like leasehold WFN,

655
00:21:56,613 --> 00:21:58,915
something like that, just with
kind of their company mission

656
00:21:58,915 --> 00:21:59,336
statement.

657
00:21:59,336 --> 00:22:00,601
And that's what they're looking

658
00:22:00,601 --> 00:22:00,671
for.

659
00:22:00,671 --> 00:22:01,936
That would be ideal.

660
00:22:01,936 --> 00:22:03,346
Another one is strictly looking
That for.

661
00:22:03,346 --> 00:22:03,838
would be ideal.

662
00:22:03,833 --> 00:22:04,856
Another one is strictly looking

663
00:22:04,856 --> 00:22:08,478
for six-story wood frame sites
because concrete, it just, the

664
00:22:08,478 --> 00:22:10,055
numbers aren't jiving right now.

665
00:22:10,055 --> 00:22:12,600
It's a variety, but I think some

666
00:22:12,680 --> 00:22:14,800
of the key things, obviously, you
know, proximity to a hospital, to

667
00:22:15,060 --> 00:22:17,117
university or colleges, major
transit routes, all of those

668
00:22:17,117 --> 00:22:17,351
things.

669
00:22:17,351 --> 00:22:20,743
As we know, parking is an issue to

670
00:22:20,743 --> 00:22:24,124
get enough for every unit in the
building, especially if you're in

671
00:22:24,110 --> 00:22:24,494
the downtown area.

672
00:22:24,405 --> 00:22:24,954
So being able to sell units

673
00:22:24,828 --> 00:22:25,911
without parking, you have to be in
a good location and easy access to

674
00:22:25,821 --> 00:22:25,871
Yeah.

675
00:22:25,858 --> 00:22:27,023
Kelowna people like their cars.

676
00:22:26,999 --> 00:22:29,195
You seem to be seeing a lot of
optimism in the Kelowna market.

677
00:22:29,195 --> 00:22:31,171
Honestly, we're lucky to have lots
of different kinds of product put

678
00:22:31,171 --> 00:22:33,069
out there, but kind of the last
few weeks we've started seeing

679
00:22:33,069 --> 00:22:36,147
sales pick up at all of our sites
on the island, the Kootenays.

680
00:22:36,147 --> 00:22:38,451
We launched a ski resort community
called Red Mountain, where our

681
00:22:38,451 --> 00:22:42,686
team's been with them probably
about, jeepers, I'm going to age

682
00:22:42,686 --> 00:22:43,361
myself, 22.

683
00:22:43,361 --> 00:22:45,479
When we went to sale for the first

684
00:22:45,479 --> 00:22:47,040
one, we're still with them.

685
00:22:47,040 --> 00:22:48,278
And we just launched three

686
00:22:48,278 --> 00:22:48,629
different products.

687
00:22:48,629 --> 00:22:50,642
One is a building called the

688
00:22:50,642 --> 00:22:50,754
Dally.

689
00:22:50,754 --> 00:22:52,589
It's One is a building condos,

690
00:22:52,589 --> 00:22:53,433
called The Dally.

691
00:22:53,433 --> 00:22:54,079
one, two, three bedrooms.

692
00:22:54,079 --> 00:22:55,420
It's condos, one, three two,
bedrooms.

693
00:22:55,420 --> 00:22:56,667
We've over exceeded the developer
and the investors' wildest

694
00:22:56,667 --> 00:22:58,848
imagination about hitting a very
high sales target and pushing a

695
00:22:58,848 --> 00:23:00,464
price point that doesn't exist.

696
00:23:00,364 --> 00:23:01,169
We just launched Townhomes.

697
00:23:01,169 --> 00:23:01,671
Totally, yeah.

698
00:23:01,571 --> 00:23:02,878
That are starting at, well, just

699
00:23:02,878 --> 00:23:04,385
under a million, up to 1.6.

700
00:23:04,385 --> 00:23:06,328
And the larger homes and the

701
00:23:06,328 --> 00:23:08,108
larger townhomes are moving the
fastest, which is nice to see.

702
00:23:08,108 --> 00:23:11,852
We just released some more lots at
a project called Caldera up there

703
00:23:11,852 --> 00:23:15,857
That community is just a really
great example because we have

704
00:23:15,857 --> 00:23:19,860
another project up at Big White
coming up that we'll be launching

705
00:23:19,860 --> 00:23:20,178
early winter.

706
00:23:20,178 --> 00:23:22,191
And we love these ski resort

707
00:23:22,191 --> 00:23:22,403
areas.

708
00:23:22,403 --> 00:23:23,940
Yes, we have the experience and

709
00:23:24,040 --> 00:23:24,927
it's great, you know, variety in
our portfolio of our offerings,

710
00:23:24,918 --> 00:23:29,440
but especially with the recent
changes for the short-term

711
00:23:29,336 --> 00:23:29,440
rentals.

712
00:23:29,350 --> 00:23:34,271
And then you add on it the

713
00:23:34,271 --> 00:23:35,687
exemption from the foreign buyer
ban in these ski resort locations.

714
00:23:35,669 --> 00:23:37,253
That's like double whammy of like
broader demographic who can and

715
00:23:37,253 --> 00:23:38,060
wants to buy in those areas.

716
00:23:38,060 --> 00:23:40,471
So we love those areas.

717
00:23:40,471 --> 00:23:40,610
Yeah.

718
00:23:40,610 --> 00:23:41,724
10,000 U.S. buyers, overseas

719
00:23:41,824 --> 00:23:42,838
buyers can still buy.

720
00:23:42,838 --> 00:23:44,360
As Megan was saying, Red Mountain

721
00:23:44,351 --> 00:23:45,040
was 85% U buyers.

722
00:23:45,140 --> 00:23:45,617
Really?

723
00:23:45,617 --> 00:23:46,093
85% US buyers?
Yeah.

724
00:23:46,093 --> 00:23:47,390
So we've been really tapping into
that.

725
00:23:47,381 --> 00:23:49,733
And usually in British Columbia,
you either focus on Alberta and

726
00:23:49,733 --> 00:23:50,566
then British Columbia.

727
00:23:50,566 --> 00:23:52,527
With that campaign, we're focusing

728
00:23:52,427 --> 00:23:54,777
on Portland, Spokane, all the
areas around it, and it's been

729
00:23:54,777 --> 00:23:54,991
paying off.

730
00:23:54,991 --> 00:23:55,632
Oh my God.

731
00:23:55,632 --> 00:23:58,732
So have any of your projects been
directly affected with the

732
00:23:58,732 --> 00:24:01,473
short-term rental Right now in our
portfolio, we're at about 16

733
00:24:01,473 --> 00:24:04,012
projects currently in all
different stages and not one of

734
00:24:04,012 --> 00:24:04,736
them was affected by it.

735
00:24:04,736 --> 00:24:06,645
So that's why we're still smiling.

736
00:24:06,545 --> 00:24:06,666
Yeah.

737
00:24:06,666 --> 00:24:07,752
Was that by design?

738
00:24:07,752 --> 00:24:13,252
Like, are you guys that in tune
that you're like, no, this is not

739
00:24:13,152 --> 00:24:13,938
going to work?
Yeah.

740
00:24:13,938 --> 00:24:14,174
Okay.

741
00:24:14,274 --> 00:24:16,269
We feel the pain of the people

742
00:24:16,269 --> 00:24:18,550
that invest in these, obviously
not to get too political, but a

743
00:24:18,550 --> 00:24:21,216
lot of people, this would have
been their savings.

744
00:24:21,216 --> 00:24:22,430
This would have been their
retirement.

745
00:24:22,419 --> 00:24:24,180
It means so much to so many
people, but luckily enough, in

746
00:24:24,160 --> 00:24:30,380
terms of with our projects and
current ones coming up, none of

747
00:24:30,380 --> 00:24:31,944
them were sold for short term You
said something about big white

748
00:24:31,868 --> 00:24:32,490
there that I found interesting.

749
00:24:32,414 --> 00:24:34,280
So just like a couple of days ago,

750
00:24:34,400 --> 00:24:39,053
we have a place in Snowbuns and I
think it was the March strata

751
00:24:39,053 --> 00:24:39,725
meeting came out.

752
00:24:39,725 --> 00:24:42,218
There used to be a discount on the

753
00:24:42,218 --> 00:24:44,431
vacant strata lots that were not
built on anymore.

754
00:24:44,431 --> 00:24:46,318
And they just voted to not do that
anymore.

755
00:24:46,318 --> 00:24:48,927
So everyone's strata fees are
basically equal, whether you just

756
00:24:48,927 --> 00:24:51,263
own the land or you have a house
on it.

757
00:24:51,263 --> 00:24:53,903
So they're really trying to push
people to like, hey, let's build.

758
00:24:53,803 --> 00:24:56,021
So that's good for those kind of
projects is like motivating

759
00:24:56,021 --> 00:24:56,192
people.

760
00:24:56,192 --> 00:24:58,781
And I think I've found that with a

761
00:24:58,781 --> 00:25:02,340
couple of municipalities as well
with land taxes, like vacant land

762
00:25:02,340 --> 00:25:05,096
now is starting to creep up just
because they don't want people

763
00:25:05,096 --> 00:25:07,449
land banking, right?
They want you to build on it.

764
00:25:07,449 --> 00:25:10,786
So I think that's good motivation
for anyone that's owning land.

765
00:25:10,786 --> 00:25:14,082
What are your kind of top projects
that you guys like in Kelowna

766
00:25:14,082 --> 00:25:17,309
right now that you're looking
after?

767
00:25:17,409 --> 00:25:22,689
Like probably don't want to be too
biased to certain developers, but

768
00:25:22,589 --> 00:25:27,307
if I was looking to buy a place
right now from you guys, where

769
00:25:27,307 --> 00:25:29,540
would you direct me?
It depends on what you're after.

770
00:25:29,640 --> 00:25:32,790
I mean, we love our Water Street
by the Park project.

771
00:25:32,690 --> 00:25:37,525
It holds a special place in my
heart because I launched Tower 1

772
00:25:37,625 --> 00:25:39,995
and 2 personally, boots on the
ground, and put my blood, sweat,

773
00:25:39,995 --> 00:25:41,262
and tears into that one.

774
00:25:41,262 --> 00:25:43,138
The team amazing on that.

775
00:25:43,138 --> 00:25:47,003
It It was unbelievable how they
moved it was just like even the

776
00:25:47,003 --> 00:25:50,480
whole recipe of it like i said it
was the first project that we

777
00:25:50,580 --> 00:25:53,365
launched with ace it really
launched us into the most positive

778
00:25:53,365 --> 00:25:55,902
and amazing trajectory with this
company and i think the team that

779
00:25:55,902 --> 00:25:58,829
we had assembled at that point we
were all just like so in it and

780
00:25:58,829 --> 00:26:02,360
like absolutely working our butts
off to make it the success it was

781
00:26:02,540 --> 00:26:04,407
just like this perfect balance I
mean talking more about amenities

782
00:26:04,407 --> 00:26:07,723
the entirety of the parking podium
and tower one and two of level six

783
00:26:07,723 --> 00:26:10,073
it's all amenities indoor outdoor
you know heated outdoor pool all

784
00:26:10,073 --> 00:26:12,368
of these things so that's exciting
the walkability you can't get

785
00:26:12,368 --> 00:26:16,294
better than that it's a few blocks
away from the new Uc old campus

786
00:26:16,294 --> 00:26:19,239
it's a few blocks away from the
hospital it's half a block away

787
00:26:19,239 --> 00:26:21,780
from the lake like it just really
has everything going for it and

788
00:26:21,780 --> 00:26:23,644
the views the vistas are
unparalleled because we're now

789
00:26:23,644 --> 00:26:26,666
selling only the remaining very
upper floors of the 42 story tower

790
00:26:26,666 --> 00:26:30,771
so is that all that right now
available we our final release so

791
00:26:30,771 --> 00:26:35,100
yeah and it's top down now and we
had a lot of three bedroom floor

792
00:26:35,100 --> 00:26:37,998
plans that we held back or hadn't
released yet and now that those

793
00:26:38,098 --> 00:26:39,968
are being released we're
definitely seeing more people

794
00:26:39,968 --> 00:26:42,978
interested in the larger suites
and staying away from maybe the

795
00:26:42,978 --> 00:26:45,832
one and two bedrooms and focusing
on the threes which is nice

796
00:26:45,832 --> 00:26:48,626
because that's taking us i think
our best price three bedroom is

797
00:26:48,626 --> 00:26:52,289
around 1.4 right now yeah going up
from there going up from there and

798
00:26:52,289 --> 00:26:53,331
it's on close to the 40th floor.

799
00:26:53,331 --> 00:26:55,893
Up there, it gets a little higher,

800
00:26:55,893 --> 00:26:58,685
but yeah, those floor plans go up
to the 39th floor.

801
00:26:58,685 --> 00:27:01,292
And then we have a few diamond
collection suites, which have some

802
00:27:01,292 --> 00:27:01,895
more upgrades.

803
00:27:01,895 --> 00:27:03,000
And then we have the penthouses,

804
00:27:03,000 --> 00:27:04,813
which will be released later.

805
00:27:04,813 --> 00:27:04,886
Nice.

806
00:27:04,886 --> 00:27:07,860
So what's going to get released
first, the penthouses or the next

807
00:27:07,980 --> 00:27:09,907
tower?
Right now, we can talk about the

808
00:27:09,907 --> 00:27:12,700
penthouses, but definitely as we
build, we always want to make sure

809
00:27:12,700 --> 00:27:15,375
we're keeping product and we're
seeing keeping product and we're

810
00:27:15,375 --> 00:27:18,278
seeing it at the the right time
yeah we're hoping in a perfect

811
00:27:18,278 --> 00:27:21,260
world when they're ready for tower
three we'd love it to be this year

812
00:27:21,260 --> 00:27:25,896
but if not we have a lot of
amazing inventory and we have a

813
00:27:25,896 --> 00:27:28,032
lot of larger suites that we're
releasing occupancy like when's

814
00:27:28,032 --> 00:27:31,408
going to be the first person to
move in like i feel like i've been

815
00:27:31,408 --> 00:27:36,025
watching this building go up
forever now it's massive, is this

816
00:27:36,025 --> 00:27:38,848
going to be the tallest building
in Kelowna residentially then?

817
00:27:38,848 --> 00:27:40,022
Yeah, it is indeed.

818
00:27:40,022 --> 00:27:41,931
I know there's been a few other

819
00:27:41,931 --> 00:27:45,123
that have come around and they've
tried to match it or top it.

820
00:27:45,123 --> 00:27:48,510
I know the UBCO tower I think is
around that, but yeah, at this

821
00:27:48,510 --> 00:27:52,330
moment in time, it is officially
going to be the tallest move in

822
00:27:52,330 --> 00:27:53,872
date, when should it be finished?
2025.

823
00:27:53,872 --> 00:27:54,103
Okay.

824
00:27:54,103 --> 00:27:57,340
is great because we all bought an

825
00:27:57,340 --> 00:27:57,566
investment.

826
00:27:57,566 --> 00:27:58,582
Literally, Ace is one of

827
00:27:58,582 --> 00:28:01,574
Literally, Ace is one of the
biggest investors in Water Street.

828
00:28:01,574 --> 00:28:02,563
We're all still smiling.

829
00:28:02,563 --> 00:28:04,471
So, it bonded us right from the

830
00:28:04,471 --> 00:28:04,777
start.

831
00:28:04,777 --> 00:28:06,022
It works well in pre-sales.

832
00:28:06,022 --> 00:28:07,227
We've spoken about this before.

833
00:28:07,227 --> 00:28:08,794
You can buy now when the market's

834
00:28:08,794 --> 00:28:11,819
flat, interest rates are high,
nobody wants to think about debt

835
00:28:11,819 --> 00:28:12,521
servicing it.

836
00:28:12,521 --> 00:28:14,862
And then, hopefully, by rates

837
00:28:14,862 --> 00:28:19,283
2025, are down and wants to like
think about debt servicing it and

838
00:28:19,283 --> 00:28:23,996
then hopefully by 2025 rates are
down and you know it was a good

839
00:28:23,996 --> 00:28:26,419
investment university and a bunch
of new amenities all around us to

840
00:28:26,419 --> 00:28:30,088
feed those buildings which yeah so
just for a novice like myself so

841
00:28:30,088 --> 00:28:33,063
your sales team do you contract
out then like how does that work

842
00:28:33,051 --> 00:28:36,326
for your 48 are they employees or
contractors has grown quite a lot,

843
00:28:36,326 --> 00:28:38,394
especially in the past, like six
to nine months.

844
00:28:38,394 --> 00:28:40,780
Prior to that, like we've always
grown very mindfully and

845
00:28:40,780 --> 00:28:43,480
cautiously, always wearing a few
different hats, each one of us

846
00:28:43,480 --> 00:28:45,160
until it got to the point that
like we did, you know, really have

847
00:28:45,160 --> 00:28:45,640
to start growing.

848
00:28:45,640 --> 00:28:47,250
So with that in mind, we do have,

849
00:28:47,250 --> 00:28:49,706
I'll call them like kind of your
core staff.

850
00:28:49,706 --> 00:28:51,349
So we have some admin support.

851
00:28:51,349 --> 00:28:53,240
We have you our, them know, like

852
00:28:53,300 --> 00:28:54,320
kind of your core staff.

853
00:28:54,640 --> 00:28:56,400
So we have some admin support, we

854
00:28:56,396 --> 00:28:58,494
have our, you know, accounting,
all of those usual roles, those

855
00:28:58,494 --> 00:28:58,940
are employees.

856
00:28:58,960 --> 00:29:00,712
But in terms of the sales staff,

857
00:29:00,812 --> 00:29:03,804
your project managers, project
directors, etc, those are all on a

858
00:29:03,804 --> 00:29:04,660
contract basis.

859
00:29:05,840 --> 00:29:06,805
So depending on their capacity or

860
00:29:06,775 --> 00:29:08,178
their timeline and the right fit
with the right developer and all

861
00:29:08,178 --> 00:29:09,920
of that, we will assign anywhere
from, I don't know, one to two,

862
00:29:09,920 --> 00:29:11,409
maybe three projects for our
project manager.

863
00:29:11,409 --> 00:29:13,052
It depends again on the timeline
and the size of that.

864
00:29:13,052 --> 00:29:15,532
But this is kind of one of the
things that really does set Ace

865
00:29:15,532 --> 00:29:16,584
apart from the competition.

866
00:29:16,584 --> 00:29:19,306
We don't overload our PMs so that

867
00:29:19,306 --> 00:29:20,509
we always want to maintain that
boutique, really personalized

868
00:29:20,476 --> 00:29:21,219
experience with the Ace team.

869
00:29:21,186 --> 00:29:22,807
So our developers do know the

870
00:29:22,807 --> 00:29:23,199
whole team.

871
00:29:23,299 --> 00:29:25,046
They know all of us and they do

872
00:29:25,046 --> 00:29:28,157
get hands-on experience from all
of us at any given point

873
00:29:28,157 --> 00:29:29,247
throughout the lifespan of the
project.

874
00:29:29,247 --> 00:29:31,941
And that's one of the biggest
pieces of feedback we hear from

875
00:29:31,941 --> 00:29:32,998
our developers is you guys are
growing.

876
00:29:32,998 --> 00:29:36,589
Just please never change who you
are and like the service that we

877
00:29:36,589 --> 00:29:39,606
get from you because that's what
we love about you guys.

878
00:29:40,291 --> 00:29:42,194
So. And then ACE works with
Oakland Realty.

879
00:29:42,194 --> 00:29:42,878
Yeah.

880
00:29:42,978 --> 00:29:46,002
I've heard you guys mention

881
00:29:46,002 --> 00:29:48,866
Oakland before, and I've heard
them a bunch from the Vancouver

882
00:29:47,940 --> 00:29:49,380
Real Estate Podcast guys who,
yeah, we love.

883
00:29:49,380 --> 00:29:53,705
Also, I believe the owner of that
was on a mortgage broker show that

884
00:29:53,705 --> 00:29:56,005
is out of Vancouver as well.

885
00:29:56,005 --> 00:29:57,720
Alex McFadden has a show and he

886
00:29:57,720 --> 00:29:58,291
was on there.

887
00:29:58,291 --> 00:30:00,259
So yeah, I've heard him speak.

888
00:30:00,259 --> 00:30:01,783
Seems like a fantastic guy.

889
00:30:01,783 --> 00:30:04,374
So how are you guys tied in with

890
00:30:04,264 --> 00:30:04,679
that?
What's your relationship look

891
00:30:04,559 --> 00:30:04,878
like?
Oakwin is an amazing powerhouse

892
00:30:04,864 --> 00:30:05,722
brokerage out of the Lower
Mainland that I think for many

893
00:30:05,708 --> 00:30:06,915
years now has consistently won
best brokerage.

894
00:30:06,915 --> 00:30:10,552
In the Lower Mainland, as Ace
started to grow, as you guys know,

895
00:30:10,552 --> 00:30:12,951
in pre-construction sales and
marketing, because of the

896
00:30:12,951 --> 00:30:17,496
contracts with the developers, you
can have a mixture of licensed or

897
00:30:17,496 --> 00:30:19,016
unlicensed sales reps on a
project.

898
00:30:19,016 --> 00:30:21,213
In this case, we were growing.

899
00:30:21,213 --> 00:30:23,240
We always want to make sure that

900
00:30:23,240 --> 00:30:27,889
we're doing everything, you know,
on the up and up, I's dotted, T's

901
00:30:27,789 --> 00:30:28,078
crossed.

902
00:30:28,078 --> 00:30:29,739
We wanted to align ourselves with

903
00:30:29,739 --> 00:30:33,538
a brokerage and, you know, funnel
our business through a brokerage

904
00:30:33,538 --> 00:30:35,942
that had similar company culture
and, you know, the same drive and

905
00:30:35,942 --> 00:30:36,577
passion that we had.

906
00:30:36,577 --> 00:30:37,750
And we really felt like Oakland

907
00:30:37,650 --> 00:30:39,191
was the perfect fit for that.

908
00:30:39,191 --> 00:30:40,357
They're very project oriented

909
00:30:40,257 --> 00:30:42,461
being that they are based out of
the lower mainland.

910
00:30:42,461 --> 00:30:43,740
So they understand that program.

911
00:30:43,740 --> 00:30:44,370
They understand how to sell it.

912
00:30:44,320 --> 00:30:44,744
They understand the benefits to
it.

913
00:30:44,619 --> 00:30:45,417
So it just was a really organic, I
think, match there.

914
00:30:45,310 --> 00:30:51,847
And also we never want to touch
resale.

915
00:30:51,747 --> 00:30:53,411
This is another thing that sets us
apart from some of the competition

916
00:30:53,411 --> 00:30:53,709
as well.

917
00:30:53,772 --> 00:30:55,176
None of our team is touching

918
00:30:55,176 --> 00:30:55,376
resale.

919
00:30:55,206 --> 00:30:55,680
We are wholly and completely

920
00:30:55,663 --> 00:30:57,646
focused on the pre-construction
game.

921
00:30:57,646 --> 00:30:58,829
with this as well.

922
00:30:58,829 --> 00:31:00,988
So Ace Project Marketing is run by

923
00:31:00,988 --> 00:31:02,380
a team of agents.

924
00:31:02,380 --> 00:31:03,564
So they have the listings for

925
00:31:03,564 --> 00:31:04,363
these projects.

926
00:31:04,263 --> 00:31:05,439
And then like Megan was saying,

927
00:31:05,339 --> 00:31:08,460
the best part about being with
Oakland is when we have a launch

928
00:31:08,460 --> 00:31:10,039
and we're getting ready to go.

929
00:31:09,939 --> 00:31:11,004
We obviously work with the people

930
00:31:11,004 --> 00:31:13,793
that have been with us from the
beginning, from the database, the

931
00:31:13,892 --> 00:31:16,435
developers, friends, family,
people that have been following

932
00:31:16,435 --> 00:31:16,888
the project.

933
00:31:16,888 --> 00:31:20,590
We want to make sure that we get

934
00:31:20,590 --> 00:31:25,173
them to the front of the line, but
we also love that we have almost

935
00:31:25,173 --> 00:31:25,815
850 agents that understand
projects.

936
00:31:25,815 --> 00:31:28,325
It's very, very different in this
industry to find a company that

937
00:31:28,325 --> 00:31:30,415
understands from start to finish
the deposit structure, getting

938
00:31:30,415 --> 00:31:33,264
your clients lined up, getting
them ready for a date to write and

939
00:31:33,264 --> 00:31:34,328
go forward from there.

940
00:31:34,328 --> 00:31:36,919
And when we have an incentive to

941
00:31:36,919 --> 00:31:40,719
have that group of agents be able
to push it out and be behind it is

942
00:31:40,719 --> 00:31:41,116
pretty remarkable.

943
00:31:41,116 --> 00:31:43,776
We looked at a lot of different

944
00:31:43,776 --> 00:31:46,847
agencies and with the volume and
just with the people that are

945
00:31:46,847 --> 00:31:49,501
attached, a lot of them come from
a project marketing world because

946
00:31:49,501 --> 00:31:51,077
they love this brand.

947
00:31:51,177 --> 00:31:52,378
They love the connectivity.

948
00:31:52,378 --> 00:31:55,635
They love our culture behind it,
that it just made sense and our

949
00:31:55,635 --> 00:31:56,463
colors are the same.

950
00:31:56,463 --> 00:31:57,164
So nicely.

951
00:31:57,164 --> 00:31:59,074
Also, I've noticed that your
projects are pretty realtor

952
00:31:59,074 --> 00:31:59,520
friendly, right?
We try.

953
00:31:59,620 --> 00:32:02,390
We're always thinking about how to
bring more realtors in and really

954
00:32:02,490 --> 00:32:02,906
give different incentives.

955
00:32:02,906 --> 00:32:04,054
Yeah, you guys you guys have

956
00:32:04,054 --> 00:32:04,685
quality incentives.

957
00:32:04,685 --> 00:32:04,915
Perfect.

958
00:32:04,915 --> 00:32:07,366
That's what we like to do.

959
00:32:07,366 --> 00:32:10,430
Every week we sit down, we go

960
00:32:10,430 --> 00:32:12,756
through all the different
projects, all the different areas.

961
00:32:12,756 --> 00:32:15,644
We're always watching other
companies because it's amazing to

962
00:32:15,744 --> 00:32:18,101
see some of the new incentives,
not necessarily with discounts,

963
00:32:18,201 --> 00:32:22,057
but with what you can do with
mortgages or getting relationships

964
00:32:22,057 --> 00:32:23,537
to lock in certain incentives.

965
00:32:23,537 --> 00:32:25,133
And it's been really powerful for

966
00:32:25,133 --> 00:32:29,261
us, but we don't sit on an
incentive for long to keep it

967
00:32:29,161 --> 00:32:30,715
fresh and to keep the moving.

968
00:32:30,715 --> 00:32:32,776
I wanted to just lightly touch on

969
00:32:32,776 --> 00:32:37,051
like the fact that for us, I think
one of our skill sets really is

970
00:32:37,051 --> 00:32:39,620
that we understand the capital
raise program and the value that

971
00:32:39,620 --> 00:32:41,797
it brings to our developers.

972
00:32:41,797 --> 00:32:42,813
Developers, especially with

973
00:32:42,913 --> 00:32:45,860
interest rates and the cost of,
you know, getting a project off

974
00:32:45,860 --> 00:32:49,006
their ground, it is so much more
expensive and scarier than ever

975
00:32:49,006 --> 00:32:51,146
for a developer to have to do
that.

976
00:32:51,146 --> 00:32:55,733
And so if we can help to de-risk
the project a little bit, at least

977
00:32:55,733 --> 00:32:58,585
for them, that's kind of what's
done through a capital raise.

978
00:32:58,585 --> 00:33:01,101
And again, Millennial is a really
great example of that.

979
00:33:01,101 --> 00:33:02,511
We started out with five
crossings.

980
00:33:02,511 --> 00:33:05,058
ACE oversees the marketing scope
of the capital raise program.

981
00:33:05,058 --> 00:33:07,703
And we worked really closely with
an exempt market dealer.

982
00:33:07,803 --> 00:33:10,358
In this case, it was North America
Home Finance.

983
00:33:10,258 --> 00:33:15,511
And so there's like the continuity
from the capital raise through to

984
00:33:15,511 --> 00:33:18,266
the pre-launch and the sales and
marketing launch of the project.

985
00:33:18,266 --> 00:33:19,498
And there's a cohesiveness to that
program.

986
00:33:19,498 --> 00:33:23,353
And so one of the beautiful things
in that, in a hot market, when a

987
00:33:23,353 --> 00:33:25,979
developer can ask for 20% down on
a deposit, those investors who are

988
00:33:25,979 --> 00:33:28,438
putting their money to work long
before the sales actually launch.

989
00:33:28,438 --> 00:33:30,136
So they're putting in their money
into the raise.

990
00:33:30,236 --> 00:33:33,100
They're earning profit sharing and
interest on that money.

991
00:33:33,240 --> 00:33:35,435
Then they get front of the line
access to purchase whatever unit

992
00:33:35,409 --> 00:33:36,743
they want in the building in front
of everybody else.

993
00:33:36,743 --> 00:33:39,755
They also sometimes, depending,
will get a little bit of a

994
00:33:39,755 --> 00:33:41,627
discounted rate on that.

995
00:33:41,627 --> 00:33:43,953
But most importantly, they'll get

996
00:33:43,953 --> 00:33:47,705
to take at least part of that
investment, up to 10% of their

997
00:33:47,705 --> 00:33:50,625
deposit on the condo purchase and
convert it.

998
00:33:50,625 --> 00:33:53,186
So they're getting to like double
whammy, you know, earn their money

999
00:33:53,186 --> 00:33:54,810
on that bit of money, which is
amazing.

1000
00:33:54,810 --> 00:33:58,737
And then in the end, if they want
to hang on to that condo and put a

1001
00:33:58,737 --> 00:34:02,069
renter in it, well, it's just like
a few different points at which

1002
00:34:02,069 --> 00:34:04,239
they get to capitalize on that
investment.

1003
00:34:04,239 --> 00:34:06,626
And it de-rests the project at
least a little bit for the

1004
00:34:06,626 --> 00:34:08,981
developer in that some of those
units are most likely

1005
00:34:08,981 --> 00:34:09,190
pre-pre-sold.

1006
00:34:09,190 --> 00:34:10,299
So it's a really beautifully

1007
00:34:10,399 --> 00:34:11,197
orchestrated program.

1008
00:34:11,197 --> 00:34:12,732
And we definitely done it a few

1009
00:34:12,732 --> 00:34:13,156
times now.

1010
00:34:13,156 --> 00:34:15,614
And we have a few EMDs that we

1011
00:34:16,856 --> 00:34:21,204
work with and some great teams of
dealer representatives as well.

1012
00:34:21,304 --> 00:34:24,724
But it's definitely a value add
for the developer.

1013
00:34:24,724 --> 00:34:24,916
fantastic.

1014
00:34:24,916 --> 00:34:26,407
All right, we'll jump into our

1015
00:34:26,407 --> 00:34:28,525
final kind of wrap up questions.

1016
00:34:28,525 --> 00:34:30,920
You guys have time if you could

1017
00:34:31,060 --> 00:34:33,804
buy a project or buy a property or
the whole project anywhere in the

1018
00:34:33,804 --> 00:34:37,193
Okanagan, where would it be?
I think for me, I've got to live

1019
00:34:37,193 --> 00:34:38,989
all over the Okanagan and
especially in Kelowna.

1020
00:34:38,989 --> 00:34:40,100
And I love being downtown.

1021
00:34:40,480 --> 00:34:42,068
I live in the cannery lofts.

1022
00:34:42,065 --> 00:34:42,658
It's close to everything.

1023
00:34:42,658 --> 00:34:44,661
It's right across from the office.

1024
00:34:44,661 --> 00:34:47,884
Again, back to having great names,
needing to run around and going

1025
00:34:47,784 --> 00:34:47,954
crazy.

1026
00:34:47,954 --> 00:34:49,467
I think I'd look at the downtown

1027
00:34:49,467 --> 00:34:49,744
market.

1028
00:34:49,744 --> 00:34:50,987
I'd look at the Knox Mountain

1029
00:34:50,987 --> 00:34:53,132
area, the lower and upper mission.

1030
00:34:53,132 --> 00:34:55,449
It all has a really great feel and

1031
00:34:55,449 --> 00:34:56,333
has a nice connectivity.

1032
00:34:56,333 --> 00:34:56,922
I would Yeah.

1033
00:34:56,922 --> 00:34:58,176
Chad's a downtown boy.

1034
00:34:58,176 --> 00:34:59,576
He always has been.

1035
00:34:59,576 --> 00:35:00,092
Yep.

1036
00:35:00,092 --> 00:35:01,319
He loves the lofts.

1037
00:35:01,319 --> 00:35:06,020
He loves to be like right there,
two blocks away from anything that

1038
00:35:06,020 --> 00:35:06,429
he needs.

1039
00:35:06,429 --> 00:35:07,109
I'm the opposite.

1040
00:35:07,209 --> 00:35:10,443
I was born and raised in rural
Manitoba and I couldn't wait to

1041
00:35:10,443 --> 00:35:12,368
move to the big city.

1042
00:35:12,368 --> 00:35:14,066
And now after living in all the

1043
00:35:14,166 --> 00:35:15,617
big cities, I'm like back to the
country.

1044
00:35:15,617 --> 00:35:17,469
I love living in McKinley Beach.

1045
00:35:17,569 --> 00:35:19,458
I love that I can walk out the

1046
00:35:19,458 --> 00:35:24,396
door every morning and go for a
swim with my dog in the summer or

1047
00:35:24,396 --> 00:35:26,109
hit the trails in the wintertime.

1048
00:35:26,109 --> 00:35:29,238
Yeah, I just I love that little

1049
00:35:29,238 --> 00:35:30,132
bubble of Kelowna.

1050
00:35:30,132 --> 00:35:32,233
It's zen and peaceful and it's

1051
00:35:32,233 --> 00:35:32,836
quite lovely.

1052
00:35:32,836 --> 00:35:34,317
like how you've got the great

1053
00:35:34,417 --> 00:35:37,490
danes you're downtown but you did
say cedar creek was the best dog

1054
00:35:37,490 --> 00:35:42,522
park to take them it is hands down
like it is such a good dog park so

1055
00:35:42,522 --> 00:35:45,768
you probably never trek out of
downtown but when you do that's

1056
00:35:45,768 --> 00:35:48,754
where you go yeah what would you
tell your 20 year old selves best

1057
00:35:48,754 --> 00:35:52,769
piece of advice know this one
because it like haunts my dreams i

1058
00:35:52,769 --> 00:35:55,804
was just just like travel, travel,
travel, travel the world.

1059
00:35:55,804 --> 00:35:59,900
But I wish that I took just a
moment in there to like put a

1060
00:35:59,900 --> 00:36:01,399
deposit down on a pre-construction
condo.

1061
00:36:01,399 --> 00:36:02,610
I really, I really do.

1062
00:36:02,610 --> 00:36:03,879
I just think like, hey, young

1063
00:36:03,879 --> 00:36:07,752
persons out there, like skip the
car, put some money down in a

1064
00:36:07,852 --> 00:36:11,245
condo because it is going to like
launch you on an entirely

1065
00:36:11,245 --> 00:36:12,932
different path in your life down
the road.

1066
00:36:13,032 --> 00:36:16,544
Your future self will thank you I
think the biggest thing I've

1067
00:36:16,444 --> 00:36:20,059
learned where I would tell my 20
year old self is that you're only

1068
00:36:19,959 --> 00:36:24,119
as successful as the people around
you and to find the right people

1069
00:36:24,119 --> 00:36:24,557
is important.

1070
00:36:24,557 --> 00:36:26,680
And if I knew that sooner, I think

1071
00:36:26,680 --> 00:36:27,820
it's just something anybody can
learn sooner.

1072
00:36:27,820 --> 00:36:29,861
But my younger self, it's all
about the people that you surround

1073
00:36:29,961 --> 00:36:33,079
yourself with to grow anything in
do you or ace give back to the

1074
00:36:33,079 --> 00:36:36,733
community do you support any
charities or this is a really good

1075
00:36:36,733 --> 00:36:38,993
question because we've dabbled in
like kind of skirted around a

1076
00:36:38,993 --> 00:36:44,335
couple other ones but i think we
have finally landed on one we were

1077
00:36:44,435 --> 00:36:47,745
lucky enough to be approached to
host an event at our ace head

1078
00:36:47,745 --> 00:36:48,804
office here in downtown Kelowna.

1079
00:36:48,804 --> 00:36:50,723
It was a few weeks ago now, but

1080
00:36:50,723 --> 00:36:54,060
the charity is called Humanity and
that's humanity with an I. And

1081
00:36:54,060 --> 00:36:57,683
Vaden was the phenomenal speaker
who came and shared his personal

1082
00:36:57,682 --> 00:36:57,882
story.

1083
00:36:57,861 --> 00:36:58,801
He's recently joined Humanity and

1084
00:36:58,801 --> 00:37:00,625
they're based out of Toronto, but
just the story there, what

1085
00:37:00,625 --> 00:37:04,927
everyone just needs to know, it is
100% of the funds that are given

1086
00:37:04,927 --> 00:37:07,554
through the charitable donations,
100% of them go to the end user.

1087
00:37:07,554 --> 00:37:10,600
And they take major strides in
having full transparency on like

1088
00:37:10,600 --> 00:37:12,928
the flow of those transactions so
that people can actually

1089
00:37:12,928 --> 00:37:16,187
physically see like right now with
everything that's going on in the

1090
00:37:16,187 --> 00:37:19,249
Middle East, there's a lot of, you
know, donations being sent that

1091
00:37:19,149 --> 00:37:19,207
way.

1092
00:37:19,207 --> 00:37:20,721
But yeah, it really struck a

1093
00:37:20,821 --> 00:37:21,267
chord.

1094
00:37:21,168 --> 00:37:23,207
I think that this is the one that

1095
00:37:23,207 --> 00:37:26,316
we're going to do work with for
sure in the like, is it

1096
00:37:26,316 --> 00:37:28,109
nationwide, global?
Where are they generally based?

1097
00:37:29,006 --> 00:37:31,665
What are they supporting?
They pretty much anywhere and

1098
00:37:31,765 --> 00:37:33,214
everywhere that needs it.

1099
00:37:33,214 --> 00:37:34,762
Vaden specifically, and the

1100
00:37:34,762 --> 00:37:38,564
catalyst in his story and being so
deeply involved in these

1101
00:37:38,564 --> 00:37:40,247
philanthropic and humanitarian
endeavors was in Haiti.

1102
00:37:40,147 --> 00:37:41,555
And so there's still a lot of
turmoil.

1103
00:37:41,555 --> 00:37:43,746
And they a still a lot of turmoil.

1104
00:37:43,746 --> 00:37:45,808
They focus a lot on looking at

1105
00:37:45,808 --> 00:37:47,943
children in different areas and
really focusing on child

1106
00:37:47,943 --> 00:37:50,636
trafficking and making sure that
people have the right tools, the

1107
00:37:50,636 --> 00:37:52,384
right outlook, the right
everything to kind of combat that

1108
00:37:52,384 --> 00:37:54,018
and then also help communities
being affected by either natural

1109
00:37:54,018 --> 00:37:54,131
disasters.

1110
00:37:54,131 --> 00:37:55,578
It's an amazing charity that has

1111
00:37:55,578 --> 00:37:56,600
all different assets.

1112
00:37:57,220 --> 00:37:58,181
Yeah, the sex trafficking, child

1113
00:37:58,181 --> 00:38:01,704
trafficking, that was definitely a
huge part of it initially.

1114
00:38:01,704 --> 00:38:06,825
But I mean, for example, we got a
video from the founder of it on

1115
00:38:06,825 --> 00:38:08,710
the day that Vaden came to speak
to us.

1116
00:38:08,710 --> 00:38:11,211
And he was in lifetime, like he
was in Gaza, like he's there

1117
00:38:11,211 --> 00:38:13,207
dealing with the Palestine Israeli
conflict that's going on.

1118
00:38:13,207 --> 00:38:16,440
Obviously, there's a ton of people
on all sides and in the middle

1119
00:38:16,440 --> 00:38:17,760
that are being affected by it.

1120
00:38:17,760 --> 00:38:19,140
So they were sending over, I

1121
00:38:19,140 --> 00:38:19,560
think, blankets.

1122
00:38:19,560 --> 00:38:21,397
That was kind of the big shipment

1123
00:38:21,397 --> 00:38:22,445
that had arrived that day.

1124
00:38:22,445 --> 00:38:24,716
And so you showed us the shipment

1125
00:38:24,716 --> 00:38:26,310
that had a time and date stamp on
it.

1126
00:38:26,310 --> 00:38:28,890
So no one can use it maliciously
or, yeah, it's just a really

1127
00:38:28,890 --> 00:38:33,170
transparent and the funds are
genuinely going to the end user,

1128
00:38:33,170 --> 00:38:37,368
which you don't see that in many
charities of any these days.

1129
00:38:37,268 --> 00:38:40,061
So one other that, cause we're all
animal lovers today, there's more

1130
00:38:40,061 --> 00:38:42,900
dogs than staff sometimes is just
whenever we can help or provide

1131
00:38:42,900 --> 00:38:46,984
assistance to the humane society
or the SPCA, that's been the last

1132
00:38:46,984 --> 00:38:49,120
few years and it's been pretty
rewarding.

1133
00:38:49,120 --> 00:38:49,440
Yeah.

1134
00:38:49,440 --> 00:38:49,504
Yeah.

1135
00:38:49,504 --> 00:38:50,784
Well, I love both of those.

1136
00:38:50,784 --> 00:38:51,808
Good for you guys.

1137
00:38:51,808 --> 00:38:53,152
how can our listener Okay.

1138
00:38:53,152 --> 00:38:54,834
Well, connect with you real guys,

1139
00:38:54,834 --> 00:38:57,195
estate developers, agents, end Any
of the above.

1140
00:38:57,195 --> 00:38:57,271
Yeah.

1141
00:38:57,271 --> 00:38:59,480
We are located at the Delta Grant.

1142
00:38:59,480 --> 00:39:02,570
So that is our head office, which
is largely used as a developer

1143
00:39:02,570 --> 00:39:03,034
marketing space.

1144
00:39:03,034 --> 00:39:05,171
You can always reach out to Chad

1145
00:39:05,171 --> 00:39:06,503
or I directly.

1146
00:39:06,503 --> 00:39:07,702
All our information is on our

1147
00:39:07,702 --> 00:39:08,834
website, which is theacpmg.com.

1148
00:39:08,834 --> 00:39:09,500
said it.

1149
00:39:09,500 --> 00:39:12,058
Do you have a storefront at We do.

1150
00:39:12,058 --> 00:39:12,465
Yeah.

1151
00:39:12,465 --> 00:39:14,731
Most of our projects have homes
and presentation centers or

1152
00:39:14,731 --> 00:39:17,407
discovery centers, but we also
have a nice storefront right by

1153
00:39:17,407 --> 00:39:19,939
the fountain when you're coming
into the Delta ground, which has

1154
00:39:19,939 --> 00:39:21,126
all of our projects, a
touchscreen.

1155
00:39:21,126 --> 00:39:24,761
You can go through any of the
offerings that we have out there,

1156
00:39:24,761 --> 00:39:29,149
as well as our product in the
Kootenays, on the island, and in

1157
00:39:29,149 --> 00:39:29,551
North Van.

1158
00:39:29,451 --> 00:39:29,677
Fantastic.

1159
00:39:29,677 --> 00:39:32,166
Well, it's been awesome having you
guys on.

1160
00:39:32,166 --> 00:39:34,106
Thank you for coming and sharing.

1161
00:39:34,106 --> 00:39:35,530
Thank you, guys.

1162
00:39:35,530 --> 00:39:37,601
Thank you so much for having us.

1163
00:39:37,601 --> 00:39:39,665
you so much for having us.

1164
00:39:39,665 --> 00:39:40,422
Yeah, no problem.

1165
00:39:40,522 --> 00:39:42,058
Keep it up, and hopefully I can

1166
00:39:42,058 --> 00:39:45,722
bring some buyers and buy some of
the units.

1167
00:39:45,722 --> 00:39:46,200
All right.