Commercial Investor - Ontario - March 9, 2024

WANTED

� TOWNHOUSE PROJECTS

� WALK-UPS

� SEMI-DETACHED

� BUILDERS WANTING TO SELL UNITS IN BULK

� ALREADY BUILT AND RENTED

� QUICK CLOSE

CONTACT GINO

416.816.4360

� CITIES & TOWNS OUTSIDE OF TORONTO

genegiordano88@hotmail.ca

PRIVATE INVESTOR

103

51

480

Well maintained 30 unit apartment building. 1 bach, 23 one bdrm, 6 two bdrm. Several recent improvements including roof, windows, doors, boilers, hot water heaters and more. One passenger elevator. Surface and podium (rear) parking. Professionally managed. Fully rented. Excellent location. Well maintained. Exclusive.

11

101

6,700SF Plaza situated on 1+/- Acre lot zoned C4-48 on major artery in Guelph directly in front of Walmart/Smart Centre. The building consists of 5 fully rented units with 1,600SF of basement space, plus additional income from Bell Communication tower at the rear of the property. Other features include 5 drive in doors, 9’10 ceiling height, plenty of onsite parking, on public transit line, great exposure. CALL

1.796 acres of Commercial Land available for sale. Located on the North side of Victoria Street North between Lancaster Street West and Conestoga Expressway. High traffi c artery. Located on public transit route. C-6 zoning allows for a variety of permitted uses some of which include tradesman and contractor’s establishment, commercial parking facility, convenience retail, repair service and more. Utilities located at the street. MLS

CALL NEIL KOEBEL

$1,555,000

Live/Work Duplex recently renovated in AAA Location on 2 public transit lines. 3,600SF building w/ 3 dedicated entrances, currently with spa/clinic layout on lower 2 levels and a 4 bdrm residential home on upper 3 levels. Featuring 13 recently paved parking spaces, fully fenced back yard area, new furnace & A/C, water purifying system, air exchanger, security system, brand new kitchen and much more! MLS.

CALL RYAN BRIGGS

$559,900

Attention investors! Assignment sale of brandnew unit in North Waterloo. 583 sqft 1 bed + DEN 3rd fl oor unit with balcony and one surface parking space in The Jake Condos. Stylish upgrades with modern features and fi nishes. Amazing location in Lakeshore North Waterloo, centrally located steps away from all amenities.

CALL

$6,900,000

5363 AIRPORT ROAD, MOUNT HOPE

RARE 194ac parcel of land w/frontage on Airport Rd & White Church Rd. Incs 2 dwellings, 5048sf building, 4991sf barn & 175ac workable/tiled land (rented yr/yr @ $129 p/ac). Dwelling#1 (2473sf) offers 3 bedrms/2 baths, ins/htd garage addition - Dwelling#2 (1226sf) ftrs 2 bedrms/2baths. Both houses inc roofs’13, water purification’20, sep. wells/septic & 100 amp. Located in general area where proposed future Red Hill to White Church Rd/Airport & Glover Rd expansion may occur - pipeline ROW dissects property-potential severance. By appointment only.

$1,495,000

9718 CONCESSION #1 ROAD, WEST LINCOLN

34.45ac rural property enjoying over 1000ft of quiet non-thru road frontage bordering Chippewa Creek. Slow winding lane carved thru lush soy bean fields leads to magical, secluded setting where a beautifully maintained 2579sf brick bungalow incs orig. 1974 section & 1997 addition. All barns/outbuildings ftr recently painted metal roofs incs 30x60 Coverall building, 30x24 pine board garage/shop, 30x45 hip roof barn w/16’ wrap-around lean-to, conc. former feed-lot area + 30ac of fence-row free workable land. Extras-oil tank 13, AC, roof ’22, 6500g cistern, barn well & Andersen windows.

$589,000

13 SHERRING STREET N, HAGERSVILLE

Solid conc. block constructed church located in Hagersville. Versatile building on 66’x132’ lot incs private & street parking. Welcoming 140sf foyer introduces 4174sf of main level space highlighted w/1867 worship sanctuary ftrs hardwood flooring, 13.5 ceilings & wooden pews, 702sf worship overflow space, board room, 2pc bath & rear foyer. Lower level offers 800sf fellowship hall, fully equipped kitchen, 2 sep. 3pc baths, large nursery, minister’s office, 5 meeting rooms & 2 utility rooms.

$2,900,000

1289 HIGHWAY 54, CALEDONIA

Established GRAIN ELEVATOR/SEED CLEANING FACILITY incs 51.09ac property, century home w/in-law addition, 2 grain elevator receiving pits w/tower grain dryer & 80’ truck scale, 340,000bu bin storage, add. 60,000bu of Quonset storage (400,000bu total) w/extra storage at seed cleaning facility. Various sized buildings allow for add. storage. Used for round-up ready soybeans -can be converted for cleaning non-GMO soybeans. Precision cleaning capacity 8MT/hr - treating capacity 20MT/hr. 28ac of tiled workable land, natural gas & 400 amp hydro w/phase converter.

1.98

$95,000

209

DUNNVILLE

unique

Land

Future development possibilities in this 4.798 Acre parcel of land that borders Welland/Thorold. Adjacent property, in Welland boundary, is zoned low density residential. Property is close to Brock University Campus (15 Minutes), Niagara College (1km) new residential developments, plaza for shopping and all amenities and close to highway Access. Land only for sale. Current zoning FD - EP2. Contact for more info. MLS H4117393. $3,225,000

What you need to know at tax time

Rental income tax obligations

If you earn income from one or more properties that you own alone or with someone else, the money collected from these activities is taxable and you are required to report it.

RENTAL INCOME INCLUDES INCOME FROM RENTING:

• houses

• apartments

• rooms

• space in an office building

• other real or movable property

REPORTING RENTAL INCOME: RENTAL OR BUSINESS

Income earned from renting out property is considered by the Canada Revenue Agency (CRA) to be either rental income or business income, depending on the

duration of the rental and the types of services included in the rental agreement. In most cases, rental income means you are being paid to rent space and provide basic services only. These include heat, light, parking, and laundry facilities. If you provide additional services to tenants, such as cleaning, security, and meals, you may be carrying on a business. The more services you provide, the greater the chance that your rental operation is a business.

CURRENT EXPENSES VERSUS CAPITAL EXPENSES

Keep track of all your expenses related to your rental property as these may be deductible, but there are different kinds of expenses.

Current or operating expenses that are short term and associated with maintaining a property can be claimed entirely for the year you made them in. Capital expenses can be amortized, or spread out, over several years and generally provide a longer-lasting benefit or improve the value of a property.

KNOW THE DIFFERENCE BETWEEN A CURRENT AND A CAPITAL EXPENSE:

Criteria: Does the expense provide a lasting benefit?

Capital expense: Generally, there is a lasting benefit or advantage. For example, the cost of putting vinyl siding on the exterior walls of a wooden house is a capital expense.

Current expense: The expense usually recurs after a short period. For example, the cost of painting the exterior of a wooden house is a current expense.

Criteria: Does the expense maintain or improve the property?

Capital expense: The cost of a repair that improves a property beyond its original condition is probably a capital expense. If you replace wooden steps with concrete steps, the cost is a capital expense.

Current expense: An expense that simply restores a property to its original condition is usually a current expense. For example, the cost of repairing wooden steps is a current expense.

Criteria: Is the expense for a part of the property or for a separate asset?

Capital expense: The cost of replacing a separate asset within a property is a capital expense. For example, buying a refrigerator to use in your rental operation is a capital expense because a refrigerator is a separate asset and is not a part of the building.

Current expense: Repairing a property by replacing one of its parts is usually a current expense. For instance, electrical wiring is part of a building. Therefore, an amount you spend to rewire is usually a current expense, as long as the rewiring does not improve the property beyond its original condition.

Criteria: Is the expense for repairs to the used property that you acquired made to put it in a suitable condition for use?

Capital expense: The cost of repairing used property you acquired to put in a suitable condition for use

in your business is considered a capital expense even though in other circumstances it would be treated as a current operating expense.

Current expense: Where the repairs were for ordinary maintenance of a property you already had in your business, the expense is usually current.

Criteria: Is the expense for repairs made to an asset in order to sell it?

Capital expense: The cost of repairs made in anticipation of selling a property, or as a condition of sale, is regarded as a capital expense.

Current expense: Where the repairs would have been made anyway, but a sale was negotiated during the course of the repairs or after their completion, the expense is considered current.

OTHER CONSIDERATIONS WHEN EARNING RENTAL INCOME

In addition to claiming your income and deducting allowable expenses, other considerations could impact your tax situation. For example, if you own a newly constructed or substantially renovated residential rental property, you may be eligible for a rebate. If the expenses you incur to earn rental income are more than your gross rental income, you can deduct your rental loss against your other sources of income. However, you cannot deduct any amortization/ depreciation on your rental property if you are already in a rental loss position. You also cannot deduct a rental loss if you rent to a family member below fair market value.

Learn more. Visit canada.ca. CI

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• Plaza nestled nicely in the centre of student residences

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• 1,318 sq ft

• $28.00/sq ft net

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Survey: More Millennials look to own recreational property

A RE/MAX survey released June 6 and conducted by Leger finds 56 per cent of Millennials are in the market to purchase a recreational property. This is up 14 per cent from last year when 42 per cent of this demographic considered buying recreational property.

In 2018, 91 per cent of recreational markets surveyed reported it was Baby Boomers, especially retirees, who were driving the recreational market. The increase in buying intentions among younger people shows the start of a new trend in who will fuel this segment of the property market, and what they are looking to purchase.

“We are finally witnessing the long-anticipated generational shift of purchasing power from Baby Boomers to Millennials,” says Christopher Alexander, executive vice-president, RE/MAX of OntarioAtlantic Canada. “With the high cost of urban living taking many young homebuyers out of those markets, more Millennials are turning to recreational properties as a viable option for home ownership.”

Price remains the top consideration for recreational property buyers, with 61 per cent of survey respondents naming affordability as the most important factor. However, liveability also plays a crucial role in the selection process.

“This new buyer demographic comes with a different lifestyle and property criteria than those of their Boomer counterparts,” Alexander adds. “Factors like Internet connectivity, recreational activities and proximity to towns with urban conveniences are becoming a more important selling feature.”

The survey also reveals that 64 per cent of Canadians want recreational properties to relax and spend time with friends and family. Forty-three per cent say they are able to do things not available at their permanent residence, such as hiking and fishing, with Millennials ranking higher (50 per cent) than Boomers (38 per cent) in this sentiment.

When it comes to the actual property, the survey also found that other than affordable purchase price, Canadians who own or would consider owning a recreational property named reasonable maintenance costs waterfront access, and proximity to town as the most important factors when purchasing.

These findings differ regionally, with more Atlantic Canadians (39 per cent) looking for seclusion compared to residents in western provinces (28 per cent) or Ontario (26 per cent).

Ontarians, on the other hand, are more likely to look into the property’s proximity to town and

the accessibility of nearby medical facilities.

Additionally, the findings revealed that 54 per cent of Canadians travel (or would like to travel) to their recreational property in about two hours or less, while 22 per cent travel (or would travel) three or more hours. CI

Key findings from the 2019 RE/MAX Recreational Property Omnibus Survey

1. Forty per cent of Canadians are in the market for a recreational property, 56 per cent of Millennials are in the market for a recreational property

2. Canadians cite the following reasons to own or want to own a recreational property:

• It is where I can go and relax and spend time with friends and family = 64 per cent

• It is a getaway home = 58 per cent

• I can do activities I can’t do at my permanent residence (hiking, fishing, etc.) = 43 per cent

• It is an investment property = 30 per cent

• It is a retirement home = 20 per cent

• Other = two per cent

3. Thirty per cent of Canadians who say they use or would use a recreational property as an investment opportunity, Millennials rank the highest at 33 per cent, compared to Boomers at 28 per cent.

4. More than half (54 per cent) of Canadians who own or are considering owning a recreation property are willing to travel up

to two hours, 24 per cent saying they would travel two hours. Slightly less (22 per cent) are willing to travel three or more hours.

5. Canadians identify the following features as important when considering their current recreational property or a future purchase of a recreational property:

• Affordable purchase price = 61 per cent

• Reasonable maintenance costs = 46 per cent

• Waterfront access = 45 per cent

• Proximity to town = 44 per cent

• Reasonable distance from primary residence = 35 per cent

• Relative seclusion = 28 per cent

• Land access = 24 per cent

• Proximity to sports/recreation = 24 per cent

• Nearby neighbouring properties = 12 per cent

• Island property = seven per cent

• Other = one per cent

• None, don’t mind which features my recreational property has = seven per cent

• Don’t know/prefer not to answer = seven per cent

STREET E. $32.00/SF 3033

MLS® 40338977

875-3,361 SF | $32.00/SF

Chad Ritzer* x 3033

#3-815

4411 KING STREET E. 875-3,361 SF | $32.00/SF

#3-815 WEBER ST. E. 1,175 SF | $2,700/Month

Chad Ritzer* x 3033

James Boudreau** x 3020

#108-501 KRUG STREET

2,490 SF | $20.00/SF

James Boudreau** x 3020

STREET $20.00/SF

Boudreau** x 3020

40338977

MLS® 40338977

#3-815 WEBER ST. E.

30 QUEEN STREET N 4,059 SF | $11.00/SF

30 QUEEN STREET N 4,059 SF | $11.00/SF

James Boudreau** x 3020

1,175 SF | $2,700/Month James Boudreau** x 3020

James Boudreau** x 3020

#1-26

2,000 SF | $18.00/SF

#108-501 KRUG STREET

#1-26 MAIN STREET

2,490 SF | $20.00/SF

2,000 SF | $18.00/SF

James Boudreau** x 3020

Lester Tobin* x 3023

311

HIGHLAND RD.W. -$12.50/SF

Boudreau** x 3020

#9-324 HIGHLAND RD. W. 586 SF | $32.00/SF

30 QUEEN STREET N 4,059 SF | $11.00/SF

Chad Ritzer* x 3033

#9-324 HIGHLAND RD. W. 586 SF | $32.00/SF

James Boudreau** x 3020

Chad Ritzer* x 3033

10 TOWNSEND

2,558-2,906 SF | $32.00/SF

James Boudreau** x 3020

#1-26 MAIN STREET

10 TOWNSEND DRIVE

2,000 SF | $18.00/SF

2,558-2,906 SF | $32.00/SF

Lester Tobin* x 3023

James Boudreau** x 3020

#9-324 HIGHLAND 586 SF Chad Ritzer*

7 DUKE STREET W.

819-3,007 SF|FROM $11.00/SF

James Boudreau** x 3020

10 TOWNSEND DRIVE

7 DUKE STREET W.

2,558-2,906 SF | $32.00/SF

819-3,007 SF|FROM $11.00/SF

James Boudreau** x 3020

James Boudreau** x 3020

7 DUKE

819-3,007 James Boudreau**

-2,287 SF | $11.95/SF Chad Ritzer* x 3033

96-100 HIGHLAND RD.W.

508 RIVERBEND DRIVE

311-1,350 SF | $12-$12.50/SF

84-409 SF | From $325/Mth

James Boudreau** x 3020

Cindy Theoret* x 5020

508 RIVERBEND DRIVE

501 KRUG STREET

84-409 SF | From $325/Mth Cindy Theoret* x 5020

#10 11 - 55 SHOEMAKER

1,600 - 3,200 SF | $14.00/SF Chad Ritzer* x 3033

690 –1,045 SF | $16.00/SF James Boudreau** x 3020

99 NORTHFIELD DRIVE E.

501 KRUG STREET

690 –1,045 SF | $16.00/SF

695-2,287 SF | $11.95/SF

James Boudreau** x 3020

Chad Ritzer* x 3033

10-665 COLBY DRIVE

1,065 SF | $14.00/SF Chad Ritzer* x 3033

99 NORTHFIELD

695-2,287 Chad Ritzer*

115 EARL THOMPSON RD.

9,000 SF | $13.75/SF

Chad Ritzer* x 3033

501 KRUG STREET

690 –1,045 SF | $16.00/SF

James Boudreau** x 3020

MAIN STREET

Lester Tobin* x 3023

34 WATER STREET N. 2,437 SF | $12.00/SF

James Boudreau** x 3020

WEBER ST. E. 1,175 SF | $2,700/Month James Boudreau** x 3020

96-100 HIGHLAND RD.W.

-1,350 SF | $12-$12.50/SF James Boudreau** x 3020

DRIVE

99 NORTHFIELD DRIVE E. 695

508 RIVERBEND DRIVE 84-409 SF | From $325/Mth Cindy Theoret* x 5020

4411 KING STREET E.

MLS® 40338977

RETAIL PLAZA

15,634 SF | $6,300,000 Lester Tobin* x 3023

1,750

OFFICE BUILDING

10,000 SF | $2,700,000

James Boudreau** x 3020

LAND & BUILDING

10,129 SF | $2,750,000

James Boudreau** x 3020

OFFICE/RETAIL BUILDING

1,750 SF | $1,250,000 James Boudreau** x 3020

COMMERCIAL BUILDING

11,679 SF | 0.21 AC. | $2,500,000 James Boudreau** x 3020

11,679

REDEVELOPMENT LAND

1.210 Acres | $6,900,000 James Boudreau** x 3020

MEDICAL OFFICE BUILDING

5,074 SF | $1,600,000

James Boudreau** x 3020

RETAIL INVESTMENT PLAZA

3 UNITS | 0.74 AC |$1,799,000 Lester Tobin* x 3023

DOWNTOWN

2,403 SF | $900,000 James Boudreau** x 3020

RESTAURANT/RETAIL

1,375 SF | $849,000

Lester Tobin* x 3023

REDEVELOPMENT SITE

2.11 Acres | $4,300,000 James Boudreau** x 3020

BUSINESS FOR SALE

$150,000

James Boudreau** x 3020

8 BED FUNDED RCH IN WELL ESTABLISHED NEIGHBOUTHOOD IN LONDOD ONTARIO. Asking $929,000 Cap 9%. No Vacancies. Excellent Opportunity for Owner/Operator.

18 BED FUNDED RCH IN ST. THOMAS ONTARIO. SPRINKLER SYSTEM. Asking $1,199,000. Cap 9.85%. Rewarding People Care Business.

17 BED COUNTY FUNDED RCH IN GROWING SARNIA ONTARIO. Turnkey Operation. Asking $1,200,000. Cap 7.88%. Long Tern Residents.

31 BEDS RCH IN KITCHENER WATERLOO.

25 Funded Beds and 6 Private. Always Full. Prime Real Estate Location. Close to Downtown. Asking $2,400,000. Cap 9.62%. Potential to Streamline Expenses and Increase Profits.

11 BED FUNDED TRANSITIONAL HOUSING RCH IN ST. THOMAS ONTARIO. Minimal Staffing. Asking $699,000 Cap 9%. Don’t Miss This One.

24 BED FUNDED RCH IN SOUTHWESTERN ONTARIO. SPRINKLER SYSTEM. 20 Mins South of London. All Rooms Private with Washrooms. Asking $1,999,000. Cap 9.06%. Great Building on a Large Lot in Urban Setting.

18 BED COUNTY FUNDED RCH IN SOUTHWESTERN ONTARIO. 3 Hours West of Toronto, 1 hour East of Detroit Michigan. Asking $1,200,000. Cap 8.88%. Urban City Location.

27 BEDS RCH IN KITCHENER WATERLOO.

20 Funded Beds and 7 Private Beds. Room to Expand. Prime Real Estate Location. Asking $2,400,000. Cap 12.7%. In Business Over 30 Years.

SHORT-TERM RENTALS

Know the rules

BY JACQUELINE MONETA JD WITH ASSISTANCE FROM JAYSON SCHWARZ LLM

With vacancy rates down across Ontario, many residents are pointing fingers at short-term rental properties as the cause.

Property owners are renting out houses, rooms or entire units for short periods (less than 28 days) in growing numbers, facilitated by online platforms. So before you sign up to use, list or buy, make

sure you understand the rules and regulations governing short-term rentals in your area.

ZONING

One of the things that could become very sticky, particularly if you are considering renting out a freehold lowrise, may be zoning. The renting of a house or rooms therein may be contrary to the zoning by-law where the home is located. Let’s say the party gets loud and the neighbours complain to the police and to the zoning office of the city. As the owner, you

Advice: You should review your municipal by-laws before you post the house online

are liable, and this could result in significant fines or worse.

Advice: You should review your municipal by-laws before you post the house online, as individual municipalities in Ontario may have differing by-laws prohibiting or limiting short-term rentals.

ISSUES IN CONDOMINIUMS

Short-term rentals can sometimes lead to problems in condo communities, as people renting condos may be disruptive to other residents and may not follow the condo rules.

Frequent examples of disputes include:

• Renters causing issues within the building;

• Restrictions and/or prohibitions in the condo’s declaration or rules against it;

• An owner or resident was originally told they could host short-term rentals, but the board has since changed the rule;

• There is a security concern about residents sharing keys with shortterm rental tenants.

How do you avoid these issues? If you are considering using your condo for short-term rentals, you should first review your condo corporation’s declaration, by-laws, and rules. A declaration and/or rules can include conditions or restrictions on the occupation and use of the units. For example, the declaration may say that the units can only be used for

“private single-families.” In this case, owners may not be permitted to use their condo for short-term rentals.

Moreover, a recent Ontario court ruling has confirmed that condo boards can prevent owners from using their unit for short-term rentals by passing a rule.

Your condo corporation’s documents may also set out a minimum permissible rental period. For example, your condo’s documents may prohibit rental or tenancy agreements for a period shorter than six months.

BE INFORMED

Short-term rentals can be a great source of supplementary income, but before you post or list your property on a short-term rental site, make sure that you understand the rules that govern you, both through your condo corporation and the municipality. Protect yourself by understanding how short-term rentals are addressed in your condominium corporation.

It is also important to send a letter or email about any issue to your condominium corporation. Your condo board or manager should be able to tell you how short-term rentals are handled in your condo corporation and let you know what they plan to do to address your issue.

Mail, deliver or fax letters to the magazine or to us, use the web site (schwarzlaw.ca), email (info@ schwarzlaw.ca). We will try to deal with them in print or electronic form CI

647. 295. 5501

Real Estate Investment Solutions

WANTED FOR QUALIFIED BUYERS:

Development Land 8.85 Acres

Oakville

$13,500,000

Prime Opportunity for Builders, Investors and Developers. 8.85 Acres Corner lot opposite the future Transit HUB on 407 / Neyagava Rd. Amended official allows for multiple 12 story residential buildings with commercial/Retail, Institutional component under The Proposed Future Neyagawa Urban Core Plan

Distillery with 2 Acres Land Welland

$3,000,000

LCBO Approved Distillery with 2 brands on LCBO shelves. Product range includes 10 brands of Whiskey, Gin, Vodka, Beer and Rum

Site is approved for 10,000 sq ft building which will house the distillery and Restaurant with outdoor patio event place

Prime Location opposite Flatwater centre

Income Property Brantford

$1,249,900

Income property with long term leases. Vendor will offer rent guarantee of $65,000 per year

All leases net and escalating

3 tenants

4560 sq ft Leasable space

1. 3500-5000 sq ft Peel region for Doctors office/Pharmacy

2. 3500-5000 sq ft Peel Region for Restaurant

3. Used Car Dealership in GTA with Property

4. Dental Clinic existing or preconstruction in Peel/Halton Region

5. Physiotherapy Clinic with/without property

John Shewchuk

Email: jshewchuk@royallepage.ca

Brian Shewchuk

SALES REP Cell: 905-404-5038

SALES REP

Cell: 289 688 8047 | Email: brianshewchuck@royallepage.ca

3 LARGE ESTATE LOTS

CLARINGTON EXCLUSIVE 6000 SQ FT

PHASE ONE 29K SQ FT INDUSTRIAL PLUS

APPROX 50K SQ FT SELF STORAGE PHASE 2

HUGE 401 Frontage!!! So much choice! NEW 29,600 SQFT industrial BLD completing Q3 2024 for lease OR sale, and planned Phase 2 project for + 60,000 SQFT self-storage facility! High-demand + income generating assets with great investment potential! Clarington. Call Brian.

100% LEASED DOWNTOWN INCOME PROPERTY IN A+ LOCATION

Great choice for investors and end-users alike. Three 2 bedroom apartments + 2 commercial spaces. Fully leased with modest upside potential. Possible to occupy commercial space or re-lease. Building is in good shape, and in a high traffic + high visibility location complete with a long standing well known local business. Large lot on site, and more municipal parking across the road.

3 LARGE BEAUTIFUL ESTATE LOTS PERFECT FOR CUSTOM HOMES

Great chance for small builders, investors, or home-owners to get a great location in a quiet and beautiful neighborhood. Three lots from 3.15 acres to 4.3 acres in Newcastle just 40mins from the DVP. White-belt land close to town and lakeshore! Available separately or together FOR SALE starting at $700,000.

28 ACRES FUTURE DEVELOPMENT LAND — NEWCASTLE

Great location between HWY 115/35, HWY 401 AND HWY #2. Labeled Employment Lands under Durham OP Update. Vendor Take Back Mortgage available! Excellent opportunity for land bankers, developers, and builders of all stripes to acquire a choice piece of land early!

WOW - RARE 1.3 ACRE SERVICED RESIDENTIAL INFILL SITE IN CLARINGTON!

Services are at the lot line and an existing bungalow remains on site! Very hard to come-by in fill site for a number of detached lots, semis, or potential for townhouses: ideal for small builder or developer! Clarington is a fast-growing community with regular seasonal events walking distance away!

COMMERCIAL INVESTMENT BUILDING ASKING $1,600,000

Freestanding building on fully paved lot. Clear span w/ 12’ door & high-traffic highway visibility! In excellent condition and has heated floor! Confidentiality agreement required. Call John for more details!

OSHAWA - WHITBY INDUSTRIAL & OFFICE FOR LEASE!

Whitby - 3450 SQFT - One unit with drive in door. In great shape, Ideal for show-room, recreation, warehousing, or sales outlet. $14.25 psf net asking price

Clarington - 5900 SQFT - Clean open affordable space. Ideal for storage, show-room, packaging, recreation, and more. Only $11.00 psf net asking price! + Oshawa Office space @ a great price! Only $8.75 psf net! Clean accessible location with parking. Excellent condition. Best deal in town!

Re-igniting your financial goals

Money is a key stressor for most Canadians. They know it’s a problem but are reluctant or unable to break their bad financial habits. “The fact is, financial ignorance is not bliss,” says Gregory Brown, former associate manager with the Desjardins Financial Security Independent Network in Surrey, British Columbia.

Why do you think people avoid financial planning?

Many Canadians believe the Canada Pension Plan and Medicare will be able to support them during retirement. But these safety nets will become depleted as the number of retirees continues to increase over the next 20 years. We’re told to save for retirement, but most people are unable to picture what retirement

looks like. If you can’t picture it, how can you prepare for it? So, you just don’t and avoid it altogether.

How do you overcome the fear?

First of all, take ownership for your past financial behaviours and your future financial goals. Be honest with yourself and know that anything is possible with a plan. Next, write

down your short- and long-term personal and financial priorities. Your financial goals will support your personal goals, so the two should be aligned.

Once we have our plan, what’s next?

It’s important to make time for regular financial discussions with your partner and some key family members. It’s also a good idea to work with a financial advisor who can facilitate the conversation and provide professional and unbiased objectivity. It’s never too late to make financial adjustments even if they appear out of control. It just means that you have to get organized, ask for help and start making informed choices. CI

News Canada

SkyViews Your Price for ‘Upside’

SkyViews Your Price for ‘Upside’

Finding Value in the Grey Areas

Finding Value in the Grey Areas

By Cliff Ford, Skyview Realty

By Cliff Ford, Skyview Realty

With the ever-increasing demand for multi-unit residential properties amongst investors, a trend has been emerging over the last number of years. Many properties, and certainly buildings with 30+ units, are seeing multiple offers as part of an open bid submission process.

With the ever-increasing demand for multi-unit residential properties amongst investors, a trend has been emerging over the last number of years. Many properties, and certainly buildings with 30+ units, are seeing multiple offers as part of an open bid submission process.

If you aren’t familiar with the bid submission process, it is the act of marketing a property for sale without providing a price. Typically, the Seller will provide all due diligence documents in advance of the offer deadline to allow buyers to determine what they are willing to offer on any given property. Sellers love this process as it can generally lead to multiple offers and can create a bidding war that drives up their end price. Buyers dislike this process, however, because they prefer to have some guidance on pricing going into the offer stage. As a brokerage, we are caught in the middle of wanting to deliver great results for our Seller and satisfying our buyer clients’ demands for more investment properties.

If you aren’t familiar with the bid submission process, it is the act of marketing a property for sale without providing a price. Typically, the Seller will provide all due diligence documents in advance of the offer deadline to allow buyers to determine what they are willing to offer on any given property. Sellers love this process as it can generally lead to multiple offers and can create a bidding war that drives up their end price. Buyers dislike this process, however, because they prefer to have some guidance on pricing going into the offer stage. As a brokerage, we are caught in the middle of wanting to deliver great results for our Seller and satisfying our buyer clients’ demands for more investment properties.

What we have been noticing with these open bid properties is that ‘upside’ becomes a very common discussion point. The value a buyer places on the upside in a building can often become the factor that makes their offer stand out among the rest, at least as it relates to purchase price.

What we have been noticing with these open bid properties is that ‘upside’ becomes a very common discussion point. The value a buyer places on the upside in a building can often become the factor that makes their offer stand out among the rest, at least as it relates to purchase price.

When considering what the upside is on a property, its more than just rental rate upside, especially considering the lower vacancy rates seen in the Ontario market nowadays. Beyond the upside of what you could rent turned-over units for, investors are looking at upside in the utility consumptions by implementing programs to replace lighting with LED bulbs, installing Low-flow toilets in every unit, and investing in higher efficiency heating equipment. Upside can also be found in converting excess space in a building to either additional units, commercial space, or amenities that could draw in greater tenant rents. Sometimes even the location of the property itself

When considering what the upside is on a property, its more than just rental rate upside, especially considering the lower vacancy rates seen in the Ontario market nowadays. Beyond the upside of what you could rent turned-over units for, investors are looking at upside in the utility consumptions by implementing programs to replace lighting with LED bulbs, installing Low-flow toilets in every unit, and investing in higher efficiency heating equipment. Upside can also be found in converting excess space in a building to either additional units, commercial space, or amenities that could draw in greater tenant rents. Sometimes even the location of the property itself

can have a form of upside for a particular buyer, in that they may own a building nearby and could create valued upside in the sharing of mutual expenses between each property.

can have a form of upside for a particular buyer, in that they may own a building nearby and could create valued upside in the sharing of mutual expenses between each property.

Whatever the upside factors may be on any particular property, when going into a purchase process, understanding what YOUR value is on the upside will give you a leg up when bidding against other buyers. It appears that, at least for the time being, the sale price of the property is no longer determined just by market comparable sales. It is now the grey areas of upside that are driving the prices higher. Of course if every seller had their way, the Buyer would be paying for 100% of the upside in their purchase price but realistic sellers also know that they need to leave something on the table for a buyer. As a buyer, you need to know what the upside is and how much you are willing to pay for that upside. It is a business decision that only you can determine based on your operations.

Whatever the upside factors may be on any particular property, when going into a purchase process, understanding what YOUR value is on the upside will give you a leg up when bidding against other buyers. It appears that, at least for the time being, the sale price of the property is no longer determined just by market comparable sales. It is now the grey areas of upside that are driving the prices higher. Of course if every seller had their way, the Buyer would be paying for 100% of the upside in their purchase price but realistic sellers also know that they need to leave something on the table for a buyer. As a buyer, you need to know what the upside is and how much you are willing to pay for that upside. It is a business decision that only you can determine based on your operations.

To be fair when discussing bid submission processes, it should be stated that price may not always be the only factor when a seller chooses one offer to work with over another, but it is likely the most significant factor. As an example, buyers are becoming more and more organized in their purchasing processes in order to streamline their conditional periods and closing dates, as this can also help to achieve a sign back from a Seller when multiple offers are on the table. Especially if all offering prices are neck and neck, the terms of the offer becomes an important factor for a seller.

To be fair when discussing bid submission processes, it should be stated that price may not always be the only factor when a seller chooses one offer to work with over another, but it is likely the most significant factor. As an example, buyers are becoming more and more organized in their purchasing processes in order to streamline their conditional periods and closing dates, as this can also help to achieve a sign back from a Seller when multiple offers are on the table. Especially if all offering prices are neck and neck, the terms of the offer becomes an important factor for a seller.

You may not be a fan of the open bid submission process, but it appears as if this new trend will be sticking around. By doing proper due diligence upfront, good research on the property’s market, and determining the price you want to pay for the upside, you can still achieve great acquisitions in this tight and highly sought after investment class.

You may not be a fan of the open bid submission process, but it appears as if this new trend will be sticking around. By doing proper due diligence upfront, good research on the property’s market, and determining the price you want to pay for the upside, you can still achieve great acquisitions in this tight and highly sought after investment class.

FORREST KENDLBACHER

416-921-1112

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194 Sherbourne St, Toronto $2,549,900

Established And Successful 4 Unit Airbnb. Fully Furnished And Grossing $150K A Year. Amazing Opportunity To Live In And Collect Income Or Add To Your Portfolio. Large Owner Suite. Legal Fourplex. Fully Renovated And Tastefully Decorated.

560 Queen St W, Toronto $2,900,000

Prime Queen St West Property On High Pedestrian Traffic Block On The North Side, Just East Of Bathurst. Great Windows And Signage. Amazing Opportunity For User Or Investor. Tenant Has Given Notice To Vacate. Density Allows For 3X Coverage.

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Fully Updated & Improved Income Property On College St. All Major Capital Improvements Done Recently. $119,550

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2720 Danforth Ave, Toronto $8,850,000

Proposed 59,530 Sf Mid-Rise Development. 9 Storey 81 Residential Units, 1 Ground Level Commercial Space And 27 Underground Parking. Steps To Main Subway Station And Go Station. Short Term Tenant In Place. Planning Report From Weston Consulting Available. Development And Rsc Application Underway.

2970 Lake Shore Blvd W, Toronto $13,950,000

Proposed 9 Storey 95 Residential Units And 5220 Sf Commercial 32 Underground Parking Spaces 98,684 Gfa Mid-Rise Development. Steps To Humber College Campus, Transit. Holding Income From Short Term Tenants In Place.

HALF ACRE, MULTI-USE BUILDING

Located 15 minutes from Grand Bend, Ontario.

Turnkey Salon/Spa on commercial level. 3 bed + 2 bathroom apartment that can be converted to 2 separate units with separate entry. C-1 Zoning allows various uses. Asking 649K.

519-859-0133

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www.charaniagroup.ca

Rahim Charania Broker