Category Archives for "Urban Economics"

The barndominium We live in what is fast becoming more and more of a gig economy. If you are a hobbyist, an assembler, an artist, a winemaker, a cabinetmaker, a woodworker, a plumber, an electrician, a contractor, manufacturer, a renovator, or you run an HVAC company or a yoga studio or a physiotherapy or RMT […]

Why it’s such an uneven playing field when it comes to mortgage financing I have a client who signed a mortgage commitment. Then a few days later, he got a better offer. Can he accept the second offer or not? Here’s what I wrote to Robert (not his real name): I read over your mortgage […]

Mr Francey interviews Bruce M Firestone on Patrick’s everyday millionaire podcast: https://theeverydaymillionaire.ca/episode82-bruce-firestone-making-impossible-possible/ -how to find your why -if you want to change your life, you have to act -how to restart your life at any age -how to really provide yourself and your family for 3-generations -the story of Roy and Tammy, owners of 48-doors […]

A million-dollar TFSA, https://business.financialpost.com/personal-finance/taxes/the-road-to-the-million-dollar-tfsa-is-getting-shorter-for-millennials, sounds great except I’m not 100% convinced about these assumptions: a) earning 4.7% yearly, compounding annually, b) continuing to put in max $$$ every year for 47-consecutive years without fail. There are simply too many ups & downs over a lifetime. But, say you buy a half double like one of […]

I spoke with my friend Victor Menasce about the Ottawa Senators, the NHL, real estate investment and more on his podcast… I explained how we purchased (in the early 1990s) 600-acres in the far west-end of Ottawa (Kanata) for $12,000 an acre ($7.2 million, if you are counting), plunked an NHL expansion franchise (aka, the […]

I usually don’t really like rent-to-own (R2O) models either from an investor’s POV (point of view) or from a client’s POV. From a client’s POV, it’s an expensive way to buy property; they have to pay all of the costs of the property including mortgage payments, property taxes, insurance (tenant and landlord insurance), all repairs/maintenance, […]

[The problem with low appraisals] I am frustrated that Canadian real estate entrepreneurs have so few options when it comes to financing their projects. My friend, Matt Slobodian from Canada ICI wrote this: The regulatory framework in Canada focuses on safety and soundness (it is federally regulated via OSFI, which implies higher standards) whereas the […]

The story of Tamworth, a small town in Ontario “Animation” is a term I use to describe ways of adding new revenue streams to an existing property. For example, clients of mine are adding storage sheds, backyard workshops, basement apartments, backyard coach houses, play areas (things like outdoor ping pong tables), private patio areas, outdoor […]

Substantial completion (aka, substantial performance) in real estate is usually defined this way: When approximately 97% of work outlined in a construction contract is done. This milepost is crucial in this industry for a number of reasons: a) so, a contractor can get paid out without having absolutely everything done, b) so, an owner can […]

(Excerpt from Don’t Back Down, the real story of the founding of the NHL’s Ottawa Senators and why big leagues matter) The most profitable businesses are either illegal (like drugs) or government-owned like property taxes, alcohol distribution (at least in Ontario and Quebec), utilities and lotteries (plus drugs, if you count legalization of cannabis in […]

Yeah, right. In an alternate universe, maybe, but in Ontario, land of the RTA, residential tenancy act, it’s hard for landlords to acquire vacant possession. On behalf of a coaching client, I recently reached out to Brian Dagenais, founder of Dagenais Properties, and an expert property manager, for his advice on this subject. Here’s the […]

City of Ottawa Official Plan Poll Results and Analysis by Bruce M Firestone, PhD Decisions by municipal government can be even more important to individual residents than those made by higher levels—provincial, state or federal agencies. Noted urbanist Jane Jacobs called this the “subsidiarity” principal by which she meant that the closer government is to […]