@SteveSaretsky@danielfoch These 8 plexes are the reason cmhc bumped vacancy underwriting to 7-8% from 3-4% just a year ago. Not great for us regular multifamily guys.
@maxgoyzman What kind of exceptions have you seen? Are there any creative solutions to get around this holding period? Pay off bridge debt with cash before applying to CMHC?
@moseskagan When doing value add deals, we keep PM in house until stabilization in order to maximize returns, then we hand it off to a third party co. Return on time/$ doing PM after refi is next to nil.
every tenant's late rent payment interaction, ever:
"hey (landlord's name), so...
*1-3 paragraphs of bullshit*
...would it be okay if I pay you rent next week?"
never fails.
@SteveSaretsky a family friend, visiting YYC from YVR, had a deal with a builder to buy a pre-con house 3 weeks ago - didn't sign the final documents, went back to YVR to think. Comes back to YYC one week later to finalize and builder said it'll be 60k (10%) more. He still signed.