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📃 Densification Plan Needs to Take Affordability Into Account 💵

There is supposed to be over 1000 units developed along a corridor of Lakeshore Drive in Kelowna by 2040, and we've already surpassed that by 235%.

We've already got 1,400-1,500 units approved, and a bottleneck of infrastructure. The road is called "Lakeshore Crawl" for a reason.

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

Episode 63: Matt and Taylor are re-joined by Max Carbone. Max is a Managing Partner and Broker at Century 21 Assurance Realty Ltd. from Kelowna, BC, which has been ranked one of the top 5 Century 21 franchises in all of Canada since 2019. Max is also the President and Founder of TeamWorks, a strategic coaching & facilitation practice which helps entrepreneurs and teams across Canada build and execute winning strategic plans, market research, and organizational development, working with clients such as MTV, Nike, TD Bank, KPMG, and the Ontario SPCA.
 
Max is here to discuss:
→ The lifecycle of the enterprise and why growing a business is difficult.
→ Using strategic coaching with individuals and companies, defining and connecting personal life purpose with company philosophy, and balancing achievable versus ambitious goals.
→ The uniqueness of building your business on your name in real estate, why most Realtors fail, and finding success with authentic partners and clients.
 
Max's 1st…

🤔 Why Will We Buy Cars But Not Homes? 🏡

Historically, it's always been the right decision to buy property, as it's a known asset class that's going to increase, but there's still a lot of hesitancy around it.

People have no problem spending tens of thousands on a car that instantly loses money and payments that are as high as a mortgage, but pulling the trigger on a property is very hard.

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

Episode 64: Matt and Taylor are joined by Orion Rodgers. Orion is the President and a founding member of Property Rights BC from Victoria, BC, which was founded in the wake of the BC STR legislation in October 2023, and have filed legal action against the BC provincial government against said legislation. Property Rights BC is a non-profit association committed to educating British Columbians about their property rights and fostering a community that is informed, empowered, and proactive in protecting those rights.
 
Orion is here to discuss:
→ What led to formation of Property Rights BC, advocating for property rights and balance in government, and the upcoming provincial election and the politics around housing.
→ Taking the BC government to court over the short-term rental (STR) legislation, the "vested rights" legal argument, and where AirBNB and VRBO are in all of this.
→ The lobbying efforts of the hotel industry to squash STR, how more hotels won't help the housing problem, and…

😬 Will Your New Build Be Ready On Time? 😬

What happens if a developer wants to extend the outside date for completion?

In your offer, you've already agreed to allow them to send an amendment to the disclosure statement extending the outside date. If you haven't read that in your offer, this could be a big shock to you if it were to happen.

Has this happened to you or anybody that you know?

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

Full Episode Here: https://youtu.be/61aoPatb3m0

Episode 75: Matt and Taylor are joined by Jamie Squires. Jamie is the President and Managing Broker at Fifth Avenue Real Estate Marketing from Surrey, BC, who's a new home development specialist with over 20 years experience. Her expertise lies in helping shape communities through thoughtful design decisions, including unit mixes, building placement, and floor plan layouts. Fifth Avenue Real Estate Marketing's portfolio boasts over $10 billion in sales, accumulating over 200+ local and national awards spanning the past four decades.

Jamie is here to discuss:
→ Penticton's Sokana project, the pre-sale process for a customer including deposit structure and current incentives, and other projects they're working on right now.
→ The importance of reading your disclosure statements, outside dates for completion and how they can be extended, and how developers now need 75-80% of a project pre-sold before banks will release funding.
→ The STR …

🧳 Why Do You Think Tourism Is Down In The Okanagan? 🕶️

Tourism has been down in the Okanagan this summer compared to years in the past.

There's a lot of speculation going around Kelowna as to why this might be happening. Airbnb rules, a cool June, smoke, wildfires, the economy, shaky consumer confidence, or all of the above.

It's hard to say what the reason is, what do you think?

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

🏦 80% Pre-Sold to Access Funding?! 🏦

Banks require a certain amount of units to be pre-sold for de-risking the project before they will fund the first construction draw.

The required amount to be sold before banks will provide funding has gone from 30% to 75-80% for every client, even the big guys!

If you see a pre-sale going up, and think you're going to snag a unit when they are done, you likely wont. By the time the hole has been dug, 75-80% have already been sold, and by the time it's done, they will all be gone.

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

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

Episode 75: Matt and Taylor are joined by Jamie Squires. Jamie is the President and Managing Broker at Fifth Avenue Real Estate Marketing from Surrey, BC, who's a new home development specialist with over 20 years experience. Her expertise lies in helping shape communities through thoughtful design decisions, including unit mixes, building placement, and floor plan layouts. Fifth Avenue Real Estate Marketing's portfolio boasts over $10 billion in sales, accumulating over 200+ local and national awards spanning the past four decades.

Jamie is here to discuss:
→ Penticton's Sokana project, the pre-sale process for a customer including deposit structure and current incentives, and other projects they're working on right now.
→ The importance of reading your disclosure statements, outside dates for completion and how they can be extended, and how developers now need 75-80% of a project pre-sold before banks will release funding.
→ The STR (short-term rental) legislation impact on Pentict…

Episode 65: Matt and Taylor are joined by Scott Beaton, CPA, CFA. Scott is a Partner at Beaton Rettich Waters from Kelowna, BC, an advisory firm that specializes in helping organizations tackle transformative change. His team supports growth initiatives, software implementations and process improvements - all based in an understanding of human behaviour in complex systems. Scott connects economic and market factors with operational realities and financial implications to keep projects focused on where the value is.
 
Scott is here to discuss:
→ How his firm helps other businesses grow, the psychology of rate cuts on consumers, and how "bubbles" are created in an industry and then burst.
→ Canadian inflation and interest rates, the link between the US Fed and the Canadian dollar, and why there's a lack of investment in business and real estate.
→ The capital gains tax increase and the cost of public funds, what influences productivity rates, and the impact immigration has on housing.
 …

🇨🇦 Is Canada's Capital Gains Tax Just a Smokescreen? 💨

The capital gains tax increase isn’t legislated yet.

What’s the chance the Liberal government says “we’re not going to pursue this motion anymore”?

This week on the Kelowna Real Estate podcast, we're joined by Mike Sidhu, CFP, CLU, FMA, RCIS, and IBC Practitioner.

Mike is a Financial & Tax Planning Strategist and the President of 360° Wealth Strategies & Solutions from British Columbia, who's practice is dedicated to enhancing clients' financial literacy and empowering them towards financial sovereignty, emphasizing critical thinking in wealth management. With nearly three decades in the finance industry, his expertise lies in simplifying complex financial strategies such as succession planning, intergenerational wealth transfers, trusts, and tax-minimization techniques, making them accessible and actionable for his clients.
 
Mike is here to discuss:
→ His business niche and the benefits of whole life insurance.
→ Canada's g…

Episode 66: Matt and Taylor are joined by Loyal Wooldridge. Loyal is a City Councillor for the City of Kelowna from Kelowna, BC, who is also running in the BC provincial election coming up this fall as an NDP Candidate. As a current member and former of the Regional District of Central Okanagan and Okanagan, during the Grouse Complex Fires in 2023, Loyal played a pivotal role leading all communications and securing vital disaster relief funding. After Founding his own small business, Loyal Hair, in 2006, he was first elected to Kelowna City Council in 2018, combining the principles of community, entrepreneurship, and social responsibility. Loyal is an advocate for inclusive strategies that positively address social challenges such as homelessness, mental health, addictions, and housing. 

Loyal is here to discuss:
→ Going from an entrepreneur to a politician, the upcoming election, and voting for a person and not the party.
→ Needing "made in Kelowna" solutions that are specific for o…

Full Episode Here: https://youtu.be/VRRR5S8pGMs

Episode 74: Matt and Taylor are joined by Mike Sidhu, CFP, CLU, FMA, RCIS, and IBC Practitioner. Mike is a Financial & Tax Planning Strategist and the President of 360° Wealth Strategies & Solutions from British Columbia, who's practice is dedicated to enhancing clients' financial literacy and empowering them towards financial sovereignty, emphasizing critical thinking in wealth management. With nearly three decades in the finance industry, his expertise lies in simplifying complex financial strategies such as succession planning, intergenerational wealth transfers, trusts, and tax-minimization techniques, making them accessible and actionable for his clients. Michael regularly presents on tax and financial planning topics to audiences including accountants, lawyers, and fellow financial professionals. He is also a published author in property rights and political theory, a sought-after guest on podcasts, and a contributor to financial …

🏦 Do Banks Have to Be Transparent? 🫣

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

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

🤝 BC Has the Resources to Solve Our Housing Crisis 🏠

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

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

🇨🇦 Canadian Interest Rates Finally Coming Down!! 📉

On June 5th, 2024, we had the first overnight rate cut in over 4 years! It's only 0.25% and we need more, but it's the start in the right direction.

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

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

🇨🇦 Do You Know How Much Canada's Debt Actually Is? 🤯

Canada's debt is likely a lot higher than you think.

When the country's debt is being reported, it is the net worth, not the actual debt. The actual debt is about TWO TIMES the amount that we are being told.

Mike tells us the amount of debt we are actually in.

Are you concerned about the debt in Canada?

This week on the Kelowna Real Estate podcast, we're joined by Mike Sidhu, CFP, CLU, FMA, RCIS, and IBC Practitioner.

Mike is a Financial & Tax Planning Strategist and the President of 360° Wealth Strategies & Solutions from British Columbia, who's practice is dedicated to enhancing clients' financial literacy and empowering them towards financial sovereignty, emphasizing critical thinking in wealth management. With nearly three decades in the finance industry, his expertise lies in simplifying complex financial strategies such as succession planning, intergenerational wealth transfers, trusts, and tax-minimization techniques, …

Episode 74: Matt and Taylor are joined by Mike Sidhu, CFP, CLU, FMA, RCIS, and IBC Practitioner. Mike is a Financial & Tax Planning Strategist and the President of 360° Wealth Strategies & Solutions from British Columbia, who's practice is dedicated to enhancing clients' financial literacy and empowering them towards financial sovereignty, emphasizing critical thinking in wealth management. With nearly three decades in the finance industry, his expertise lies in simplifying complex financial strategies such as succession planning, intergenerational wealth transfers, trusts, and tax-minimization techniques, making them accessible and actionable for his clients. Michael regularly presents on tax and financial planning topics to audiences including accountants, lawyers, and fellow financial professionals. He is also a published author in property rights and political theory, a sought-after guest on podcasts, and a contributor to financial blogs. 

Mike is here to discuss:
→ His business …

🏙️ 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…