LiveLaughLTV

CRE Lender | YYC & Western Canada Focus | I Finance Rent Rolls with Bubble Tea Tenants and Cap Rate Fan Fiction | Anonymous & Underpaid

[LiveLaughLTV @LiveLaughLTV]

The investor era is ending. If you’re sitting on unsold, undeveloped pre-con, now’s the time to rethink.

Re-design. Combine units. Make them livable.

Small doesn’t have to mean soulless.
Build for people, not just pro formas.

#TorontoRealEstate #CRE #CityBuilding

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Livability Crisis:

You can’t sell a 380 sf “1 bedroom” with no windows, no storage, and a hotplate.

Investors are gone.

Now you need humans.

[LiveLaughLTV @LiveLaughLTV]

So what should developers do?

Design for end-users from day one—not flippers or phantom renters.

Make units livable, flexible, and future-proof.

If your building can’t withstand interest rates or vacancy, it was never viable.

Build for resilience, not just absorption.

[LiveLaughLTV @LiveLaughLTV]

The Typical Investor Exit Plan:

Toronto pre-con in 2021: “Investors will line up for these micro-units.”

2025: “Wait… people actually have to live in them?”

[LiveLaughLTV @LiveLaughLTV]

Toronto’s pre-construction condo market is in for a reckoning.

The investor demand is gone.

And now people are realizing… these units aren’t livable.

A thread on the fallout of the investor-box era:
#TorontoRealEstate #PreConstruction #CondoLiving #CREhumor

[LiveLaughLTV @LiveLaughLTV]

The problem isn’t just interest rates.

It’s that we forgot what homes are for:

Shelter. Function. Dignity.

Build for people first, not just IRR models.

[LiveLaughLTV @LiveLaughLTV]

Calgary’s office vacancy is still high.
But if you squint hard enough, anything can be “medical office”
#CalgaryCRE #YYCRealEstate #OfficeSpace #CommercialRealEstate #CREhumor #LeasingLife #RepurposeRealEstate

[LiveLaughLTV @LiveLaughLTV]

The Great Refinance Redemption Arc

It’s happening.

With rates softening.

Spreads are compressing.

And every borrower who told me “we’ll ride it out” in 2023 is now back in my inbox with a fresh spreadsheet and spiritual regret.

#commercialrealestate #Canada #yyc

[LiveLaughLTV @LiveLaughLTV]

Went to a Calgary market update breakfast. Key takeaways:

• Rents? Softening.
• Eggs? Dry.
• New amenity trends? “Podcast studios in buildings.”

Nothing says “tenant retention” like drywall acoustics, scrambled sorrow, and a Blue Yeti mic in an echo chamber. #YYC #CRE

[LiveLaughLTV @LiveLaughLTV]

@ronmortgageguy @Ronmortgage_ Canadian mortgages are like situationships:

5 years of commitment, then it’s back on the market.

You get the thrill of commitment, with none of the “’til death do us apart” energy!

[LiveLaughLTV @LiveLaughLTV]

The only thing more optimistic than a developer’s rent projections…

Is their belief the city will issue permits in under 60 days.

[LiveLaughLTV @LiveLaughLTV]

Draw request received:

Site 12% complete.

Request: 35% of budget

#ThrowUpTheDrawsday

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Follow for more funding dramas, Calgary chaos, and rent roll red flags musings

[LiveLaughLTV @LiveLaughLTV]

Hi. I’m a commercial real estate lender at a Canadian bank.

I read a lot of pro formas, rent rolls, and dreams held together by Excel.

Some are real.

Most are reiki studios above vape shops.

Im in Calgary and see deals across Western Canada.

Anonymous vibes.

Let’s begin:

[LiveLaughLTV @LiveLaughLTV]

The DSCR Illusion

Pro forma DSCR: 1.22x

Actual:
•Rent escalations front-loaded
•Expenses “to be confirmed”
•Vacancy: 0%

DSCR = Doesn’t Show Credible Reality