Mark Fogliato

check out @rem_online

[Mark Fogliato @MarkFogliato]

One of the better solutions I've heard...

https://t.co/QyAAbuoUs6

[Charlie Light @charliewrich]

The last thing EBITDA sees before it's adjusted

[Mark Fogliato @MarkFogliato]

@faroefool @SavelSells @nikkbetts Developers would be thrilled if registration happened at same time as occupancy. Municipalities need to change to allow conditional registration approval and to allow process to clear conditions after.

I’ve seen caps on occupancy fees offered but most developers won’t.

[Mark Fogliato @MarkFogliato]

@SavelSells @nikkbetts @faroefool Charging occupancy fees? That’s not related to overruns. You’re basically just renting the unit from the developer prior to closing on it

Alternative system would be waiting to get the condo registered for months before moving in.

Need faster process to register condos

[Mark Fogliato @MarkFogliato]

@nikkbetts @SavelSells @faroefool That's the builder making that call, not the lawyers.
Has to be negotiated in at the time of sale.
Sometimes builders also allow it to cover cost overruns on the project

[Mark Fogliato @MarkFogliato]

@SavelSells @faroefool Developers' cost goes up typically as well, since most construction loans are variable rate (and by then the full loan balance is hanging out there), but certainly their top line revenue goes up.
Developers don't like the interim period either. They want final closings ASAP

[Mark Fogliato @MarkFogliato]

@SavelSells @faroefool Sometimes we have purchasers put up bigger deposits at occupancy to drop the last part of the calculation. Sometimes even entirely to zero.

[Mark Fogliato @MarkFogliato]

@SavelSells @faroefool Typically it’s property tax + condo fee + (Condo Act Rate multiplied by unpaid portion of purchase price)

Unpaid portion is total price less deposit received

A developer could theoretically cap it or use a different formula but that’s typical in GTA

[Mark Fogliato @MarkFogliato]

@SavelSells @faroefool Normally it’s a straight rate as prescribed by the condo act, which is driven by BOC rates. Has nothing to do with interest rate builder is paying on their financing.

[Mark Fogliato @MarkFogliato]

@benmyers29 @jessicaLstep Not even the first time it’s happened to me!

[Mark Fogliato @MarkFogliato]

Love when a broker sends me a package on a property they have, and they've stolen my own project renderings to market their property 🙄

[Mark Fogliato @MarkFogliato]

@TownofNewmarket 312km

[Michael Girdley @girdley]

Only one investor in Silicon Valley has the maturity required to level up the OpenAI board.

[Mark Fogliato @MarkFogliato]

👀
https://t.co/w2UOo9KWTn

[RealEstateMagazine.ca @REM_Online]

#BREAKINGNEWS: Follow Up Boss confirms it's being acquired for $500,000,000 by Zillow pending regulatory approvals.

[Mark Fogliato @MarkFogliato]

Love this 👇🏼👇🏼👇🏼

[Town of Newmarket @TownofNewmarket]

The Town of #Newmarket is happy to announce that 500 Water Street will soon be home to the newest venture of Locale Restaurants. The Town-owned property has been a strategic anchor in the revitalization of the downtown.

Learn more: https://t.co/y6GQ6BI5WF

[CJ Fogler 🫡 @cjzero]

Lionel Messi playing for Inter Miami

[Mark Fogliato @MarkFogliato]

@jen_keesmaat They don’t have to be based on square footage. Technically the developer could apportion however they want. Square footage typically the simplest and fairest way though.

[Mark Fogliato @MarkFogliato]

@ChrisRamsey60 Mezzanines in the small bay product? And how big as % of floor area?

[Mark Fogliato @MarkFogliato]

Limiting how much time we spend on the site or content we can consume when your primary source of revenue is ads seems….counter-productive.

[Elon Musk @elonmusk]

To address extreme levels of data scraping & system manipulation, we’ve applied the following temporary limits:

- Verified accounts are limited to reading 6000 posts/day
- Unverified accounts to 600 posts/day
- New unverified accounts to 300/day