Episode 91: Matt and Taylor are joined by Jeff Hancock. Jeff is the Owner of Tradecraft Consulting, and also an Investment & Development Property Specialist (Broker) at William Wright Commercial from Kelowna, BC. Jeff has over 20 years of success in professional real estate, with a strong focus on development consulting and feasibility. He is the former Real Estate Services Manager at the City of Kelowna, where he was responsible for the acquisition and disposition of all City owned property and actively managed a team of real estate professionals overseeing a land portfolio worth $1.2 billion dollars.
Jeff is here to discuss:
→ Kelowna's purpose-built rental (PBR) supply summary, it's affect on the pre-sale/STRATA markets, vacancy rates, and what this means for rents.
→ The mindset of developers right now, the challenges they face with development cost and product choices, and the DCC fee increase in Kelowna.
→ What Jeff would invest in, the overall resilience and opportunity of Kelowna real estate, and the incoming influx of savvy investors.
Tradecraft Consulting Website: https://www.tradecraftconsulting.ca
Jeff Hancock's Email: jeff@tradecraftconsulting.ca
Jeff Hancock's LinkedIn: https://www.linkedin.com/in/jeff-hancock-3194166a/
William Wright Commercial Website: https://www.williamwright.ca
William Wright Commercial Instagram: https://www.instagram.com/williamwrightrealestate/
William Wright Commercial LinkedIn: https://www.linkedin.com/company/william-wright-commercial/
William Wright Commercial YouTube: https://www.youtube.com/@williamwrightcommercial
***
CHAPTERS
0:00 Intro
6:11 Today's Guest: Jeff Hancock
8:33 Kelowna PBR Supply Summary
12:01 What is Happening with Rent?
15:44 Balancing Profitability and Affordability
16:49 PBR Effect on Pre-Sale/STRATA Market
20:00 Stuck Developers
25:34 Have STRs Affected the Data?
27:29 DCC Increase in Kelowna
29:10 What Would Jeff Invest In?
30:18 Vacant Land Tax
31:10 The Mindset of Developers Right Now
34:36 UBCO Student Housing Project & Immigration Regulations
40:01 Wrap-Up Questions
***
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
***
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/
***
CONNECT WITH MATT
Matt Glen's Website: https://www.mattglen.ca
Matt Glen's Email: matt.glen@century21.ca
Matt Glen's Instagram: https://www.instagram.com/mattglenrealestate/
***
CONNECT WITH TAYLOR
Taylor Atkinson's Website: https://www.venturemortgages.com
Taylor Atkinson's Email: taylor@venturemortgages.com
Taylor Atkinson's Instagram: https://www.instagram.com/venturemortgages/
***
Make sure to 🔔 SUBSCRIBE, 👍 LIKE, and 💬 COMMENT below to let us know what you think!
