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🏙️ Penticton's Innovation District is a Massive Opportunity 😳

Penticton's Innovation District will be right across the road from the Penticton Regional Hospital.

The district's site is 10 acres big, with over 1,000,000 square feet of density possible at full build out, which will take 10+ years to accomplish.

The Penticton Innovation District will have a mix of residential, retail, office space, hotels, and senior's living.

#podcast #mortgages #mortgagebroker #realtor #realestate #kelowna

Episode 67: Matt and Taylor are joined by Rocky Sethi. Rocky is the Managing Director of the Stryke Group from Richmond, BC, who has been a real estate development and construction professional for 25 years. As a leader in sustainability, Rocky’s experience in mass timber has led him to be involved in the City of Vancouver’s Mass Timber Committee, Portland Mass Timber Conference (2022) and has been involved in more than 700 residential mass timber homes to date.

Rocky is here to discuss:
→ The development of the Penticton Innovation District across from the newly renovated Penticton hospital, mixing residential, retail, office space, hotel, senior, and much more.
→ What makes Penticton special and investing $1B into a project in the Okanagan.
→ The benefits of using mass timber and how BC has all the internal resources to fight the housing crisis.

Innovation District Website: https://www.theinnovationdistrict.ca
Stryke Group Website: https://www.strykegroup.ca
Stryke Group Instagram…

Episode 68: Matt and Taylor are joined by Ron Cannan. Ron is a City Councillor for the City of Kelowna, BC, who in addition to being involved in municipal and provincial politics, was an elected Member of Parliament (MP) for Kelowna-Lake Country from 2006 to 2015. With decades of experience as a public servant, Ron is highly sought after by government officials for his expertise on operations and public policy development. An entrepreneur with a social conscience, Ron is actively self-employed as business consultant with Cannan Consulting Corporation, and is also an independent broker for Interior Savings Credit Union for their commercial division. He has over 30 years of experience helping small businesses thrive in our local community, especially those in the marketing, tourism and wine industries.

Ron is here to discuss:
→ What city council looks like, what is currently taking up most of their time, and the Kelowna OCP, official community plan.
→ The provincial densification plan,…

Full Episode Here: https://youtu.be/jMv9lvuVpmw

Episode 73: Matt and Taylor are joined by Ezra Cremers. Ezra is a Licensed Property Manager & Real Estate Agent at Vantage West Realty Inc. from Kelowna, BC, who manages a portfolio of almost 300 rental properties. As a business owner for over 20 years, and managing a personal investment portfolio since 2007, Ezra gained one of a kind experiences that allow him to look at the big picture for each of his clients. His passionate approach to the specifics followed with thorough execution lets everyone he works with receive a wealth of information and positive experience. Also, as a passion project he is the owner of Kelowna City Football Club affiliated with the Vancouver Whitecaps FC.

Ezra is here to discuss:
→ How he got into property management, how he successfully manages 300 units worth of tenants and owners, and the value of a property manager and their cost.
→ Recent changes to BC tenancy laws and if they're detrimental to the rent…

📈 Real Estate Agents Need to Know the Market 📉

A lot of real estate investors have false hopes for the value of their rental due to their real estate agent not knowing the rental market well.

It's very important for real estate agents who have investor clients to do their research, or align themselves with a property manager to have a discussion about rental market prices.

This week on the Kelowna Real Estate podcast, we're joined by Ezra Cremers.

Ezra is a Licensed Property Manager & Real Estate Agent at Vantage West Realty Inc. from Kelowna, BC, who manages a portfolio of almost 300 rental properties. As a business owner for over 20 years, and managing a personal investment portfolio since 2007, Ezra gained one of a kind experiences that allow him to look at the big picture for each of his clients. His passionate approach to the specifics followed with thorough execution lets everyone he works with receive a wealth of information and positive experience. Also, as a passion proje…

🧐 Did Our Podcast Lead to Legislation Changes? 🧐

The BC government has revised some of the new eviction notice rules for landlords that were requiring them providing four months' notice if they intend to occupy the property themselves.

The president of the Canadian Mortgage Brokers Association of BC, Rebecca Casey, said "I heard from several realtors that simply flat-out advised that any of their first-time home buyers - or any of their buyers that are coming to the table with less than 20% down - that any tenanted property was off the table for them."

The four-month period exceeded the 120-day approval limit, making it difficult for individuals purchasing properties with tenants to secure mortgage approval.

The four-month personal-use eviction rules originally went into effect on July 18th, while the exception for home purchasers will come into effect on August 21st.

Do you think our podcast had anything to do with this? 😉

This week on the Kelowna Real Estate podcast, we're joi…

🤔 Thinking of Investing? Know the Laws! 🤦🏻‍♂️

Nobody wants to be slapped with $36,000 of unexpected payments. Make sure that you are clear on all of the tenancy laws if you are looking to invest in rental properties.

The red tape in BC is heavy. A licensed professional can help you avoid getting into trouble with tenancy laws.

This week on the Kelowna Real Estate podcast, we're joined by Ezra Cremers.

Ezra is a Licensed Property Manager & Real Estate Agent at Vantage West Realty Inc. from Kelowna, BC, who manages a portfolio of almost 300 rental properties. As a business owner for over 20 years, and managing a personal investment portfolio since 2007, Ezra gained one of a kind experiences that allow him to look at the big picture for each of his clients. His passionate approach to the specifics followed with thorough execution lets everyone he works with receive a wealth of information and positive experience. Also, as a passion project he is the owner of Kelowna City Football Clu…

Episode 73: Matt and Taylor are joined by Ezra Cremers. Ezra is a Licensed Property Manager & Real Estate Agent at Vantage West Realty Inc. from Kelowna, BC, who manages a portfolio of almost 300 rental properties. As a business owner for over 20 years, and managing a personal investment portfolio since 2007, Ezra gained one of a kind experiences that allow him to look at the big picture for each of his clients. His passionate approach to the specifics followed with thorough execution lets everyone he works with receive a wealth of information and positive experience. Also, as a passion project he is the owner of Kelowna City Football Club affiliated with the Vancouver Whitecaps FC.

Ezra is here to discuss:
→ How he got into property management, how he successfully manages 300 units worth of tenants and owners, and the value of a property manager and their cost.
→ Recent changes to BC tenancy laws and if they're detrimental to the rental market (Clause 13.1: Landlord use of Property)…

Episode 69: Matt and Taylor share 5 tips to take advantage of the real estate market in 2024, the change in thinking you need to have, and where you can find opportunities in this market.

Matt and Taylor discuss:
→ Having an abundance mindset.
→ Owning your primary residence and buying rental properties.
→ Finding the right team to work with and where they see opportunities right now in the city of Kelowna.
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OUR SPONSOR
The Kelowna Real Estate Podcast is brought to you by Century 21 Assurance Realty, the gold standard in real estate. To learn more, visit: https://www.c21kelowna.ca
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CONNECT WITH THE SHOW
Kelowna Real Estate Podcast: https://wavve.link/kelownarealestate
Kelowna Real Estate Podcast YouTube: https://www.youtube.com/@KelownaRealEstatePodcast
Kelowna Real Estate Podcast Instagram: https://www.instagram.com/kelownarealestatepodcast/
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CONNECT WITH MATT
Matt Glen's Website: https://www.mattglen.ca
Matt Glen's Email: matt.glen@century21.ca
Matt Glen's Instagram: h…

😦 Kelowna Shuts Down McKinley Expansion 😦

At Kelowna city council recently, there was a big discussion about expanding McKinley, which council turned down.

McKinley still has about 400 units to be built in their existing areas, and wants to focus on infilling the core area right now.

There's also going to be a general north end plan between 2025-2027, which would be a better time to reflect the need for more suburban neighbourhoods.

#podcast #mortgages #mortgagebroker #realtor #realestate #Kelowna

🏠 Now is the Time to Buy in Kelowna 🏠

Kelowna is currently in a buyer's market. This rarely happens, and when it does, it happens for a short period of time.

We've been in a buyer's market for a while, so it likely won't last much longer.

The fixed rates you are currently seeing, are generally the rates that we are going to see for the next few years.

Stop sitting on the sidelines because of rates, just go for it!

This week on the Kelowna Real Estate podcast, we're joined by Adam Cseke.

Adam is a Senior City Planner for the City of Kelowna from Kelowna, BC, who was previously on the show in episode 15. He is here to update us on the changes going on in the city, how the new provincial housing bills are impacting Kelowna, and how the city feels about these bills.
 
Adam is here to discuss:
→ The hardest part of the zoning changes, the parameters of suburban infill, unit projection numbers for the next 5 years, and how they're making it easier to get housing permits.
→ The "missin…

Full Episode Here: https://youtu.be/MTA-iXQvpGY

Episode 72: Matt and Taylor are re-joined by Adam Cseke. Adam is a Senior City Planner for the City of Kelowna from Kelowna, BC, who was previously on the show in episode 15. He is here to update us on the changes going on in the city, how the new provincial housing bills are impacting Kelowna, and how the city feels about these bills.

Adam is here to discuss:
→ The hardest part of the zoning changes, the parameters of suburban infill, unit projection numbers for the next 5 years, and how they're making it easier to get housing permits.
→ The "missing middle" home classification, if there's a pushback on four-plexes in suburban neighbourhoods or a push for more single-family homes, and updates on carriage houses if you can Strata-fy a basement suite.
→ The best opportunity for real estate in Kelowna right now, if there will be another Kelowna housing "boom", and what is happening with the mill site.

Adam's 1st Appearance in Episode 15…

😳 Get a Building Permit in 10 Days 😳

A homeowner in Kelowna can apply for and be approved for a building permit within 10 days right on the City of Kelowna website.

Kelowna is trying to accelerate housing, and this is another tool to help do so.

The city website has an AI chatbot that takes the building information from the applicant, and will let you know if you qualify for the permit.

You can visit kelowna.ca/infill to learn if you qualify.

This week on the Kelowna Real Estate podcast, we're joined by Adam Cseke.

Adam is a Senior City Planner for the City of Kelowna from Kelowna, BC, who was previously on the show in episode 15. He is here to update us on the changes going on in the city, how the new provincial housing bills are impacting Kelowna, and how the city feels about these bills.
 
Adam is here to discuss:
→ The hardest part of the zoning changes, the parameters of suburban infill, unit projection numbers for the next 5 years, and how they're making it easier to get h…

Episode 72: Matt and Taylor are re-joined by Adam Cseke. Adam is a Senior City Planner for the City of Kelowna from Kelowna, BC, who was previously on the show in episode 15. He is here to update us on the changes going on in the city, how the new provincial housing bills are impacting Kelowna, and how the city feels about these bills.

Adam is here to discuss:
→ The hardest part of the zoning changes, the parameters of suburban infill, unit projection numbers for the next 5 years, and how they're making it easier to get housing permits.
→ The "missing middle" home classification, if there's a pushback on four-plexes in suburban neighbourhoods or a push for more single-family homes, and updates on carriage houses and if you can Strata-fy a basement suite.
→ The best opportunity for real estate in Kelowna right now, if there will be another Kelowna housing "boom", and what is happening with the mill site.

Adam's 1st Appearance in Episode 15: https://KelownaRealEstate.podbean.com/e/epi…

🏡 Buying a Home? You Must Know This! 🏡

The important thing for a buyer to know is you take over risk of a property at 12:01am on the completion date, not the possession date, so that is when you're insurance has to kick in.

In the contract of purchase and sale that is specifically noted in there saying that is when the risk transfers over.

If a property is standing at 12 and burnt down at 12:02, the buyer insurance is the one covering it.

Subscribe to the Kelowna Real Estate Podcast on your favorite podcast platform.

#podcast #mortgages #mortgagebroker #realtor #realestate #Kelowna

Full Episode Here: https://youtu.be/xHTskKhYBYE

Episode 71: Matt and Taylor are joined by Dani Brito. Dani is a Lawyer at Acorn Law Corporation from Kelowna, BC, who specializes in real estate, wills and estates and business law. Acorn Law Corporation is a small but mighty firm that provides tailored advice and family-friendly service to make sure clients get things taken care of efficiently and reliably.

Dani is here to discuss:
→ What a perfect real estate transaction looks like, the importance of estate planning, wills, and power of attorney, and knowing the logistics of who you're working with.
→ Simplifying setting up title and bare trust, why your lawyer should be reviewing title, and covenants on title & statutory building schemes
→ Breach of contract and suing post-closing, holdbacks on closings, the complication of fires and floods and changes to virtual signing options.

Acorn Law Corporation Website: https://acornlaw.ca/
Acorn Law Instagram: https://www.instagram.com/acor…

👀 Be Aware of Karen Neighbours 👀

Other homeowners are the ones that enforce building schemes, not the city.

So if you have a grumpy Karen next door, you have to be aware of it.

You can never know if someone is going to enforce them or not, but you can drive through the neighbourhood and see if people have chickens or RVs parked in the front yard.

Typically, if people in the neighbourhood aren't complying with it, then no one is enforcing it, but you never know who's going to move in.

To get statutory building scheme's removed is very difficult, and required every owner of every property has to agree to it and also sign in front of a lawyer.

Subscribe to the Kelowna Real Estate Podcast on your favorite podcast platform.

#podcast #mortgages #mortgagebroker #realtor #realestate #Kelowna

✍️ The Most Important Part of Your Estate Plan ✍️

You should have a power of attorney in place. It's a document that appoints someone to be able to sign legal documents on your behalf, which cost a couple hundred bucks to set up and is good indefinitely.

If you can picture a situation where you own real estate with your spouse, and then one of you needs to go into a care home, and you need to sell the house to pay for the care you need.

You no longer have the mental capacity to sell it on your own, and your spouse actually doesn't either unless there's a formal document appointing them to be able to sell it.

The alternative is a court process that could take months and cost thousands of dollars.

Subscribe to the Kelowna Real Estate Podcast on your favorite podcast platform.

#podcast #mortgages #mortgagebroker #realtor #realestate #Kelowna

Episode 71: Matt and Taylor are joined by Dani Brito. Dani is a Lawyer at Acorn Law Corporation from Kelowna, BC, who specializes in real estate, wills and estates and business law. Acorn Law Corporation is a small but mighty firm that provides tailored advice and family-friendly service to make sure clients get things taken care of efficiently and reliably.

Dani is here to discuss:
→ What a perfect real estate transaction looks like, the importance of estate planning, wills, and power of attorney, and knowing the logistics of who you're working with.
→ Simplifying setting up title and bare trust, why your lawyer should be reviewing title, and covenants on title & statutory building schemes
→ Breach of contract and suing post-closing, holdbacks on closings, the complication of fires and floods and changes to virtual signing options.

Acorn Law Corporation Website: https://acornlaw.ca/
Acorn Law Instagram: https://www.instagram.com/acornlawbc/
Dani Brito's Email: dani@acornlaw.ca
***
…

☠️ Desperation is Killing Your Business ☠️

If you need something, you're desperate.

From 2020-2022 in real estate, you couldn't stop the business from coming in. You didn't have to be good at what you did, and it would keep coming non-stop.

When that suddenly stopped, lots of people got very desperate, and a lot of whacky things happened in the past year that shouldn't have happened.

You should try and never be in a place where you need something.

Subscribe to the Kelowna Real Estate Podcast on your favorite podcast platform.

#podcast #mortgages #mortgagebroker #realtor #realestate #Kelowna