81: How to Protect Yourself From Home Insurance Horror Stories with ARG Contracting's Adam Galbraith

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Welcome back to the Kelowna Real
Estate Podcast.

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I'm your mortgage broker host,
Taylor Atkinson.

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And I'm your real estate agent
host, Matt Glen.

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What's happening today, Taylor?
You know, I stayed up pretty late.

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Was it Friday night there?
Saturday night?

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You texted me that night.

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That was long.

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I threw in the towel way before
that.

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Yeah, man.

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This was the end of Matt and I's

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political career as well.

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Follow this stuff.

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But as I'm sure everyone else is
frustrated.

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The funniest part about this
election is going into it.

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It's like, we're using a new
system.

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We're going to find out right
away.

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Now it's going to be like the
longest we've ever had to wait for

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an election result.

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Yeah.

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So reason being is there's a
couple of very close riding.

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So anything less than a hundred
difference, I guess, in votes,

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they have to recount, which is
kind of wild.

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It's an electronic system.

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So I don't know.

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I don't know what could have gone
wrong there.

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And then mail-in ballots, there's
like 49,000 outstanding mail-in

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ballots.

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So yeah, yet to be determined.

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49,000 outstanding mail-in ballots
is mail-in ballots is a lot of

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ballots, man.

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There's ridings that are like 100

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apart or less.

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Yeah, I think there was about a

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50% turnout, which is pretty good,
I guess.

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I don't know.

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In comparison for the previous

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years, it didn't jump a lot for uh
for uh provincial politics that's

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very good yeah 50 percent turnout
and the vote was basically 50 50

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yeah just funny but yeah we'll
stop boring you guys with

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political stuff you guys with
political stuff we dove into it a

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lot in the last few months and it
was interesting but the reason

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being is because you know both
parties and we won't discount the

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green party they're in this as
well potentially with a lot of

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power again yeah but all parties
you know one of their main

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concerns was housing affordability
so that's why it was so important

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to us to talk about this stuff
speaking about building more

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houses and housing affordability
today's guest adam from arg he's a

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home builder he's helping out a
lot on the west colonna side and

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rdco the rebuilds from the fires
from a year and a half ago and

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highlights a lot of like insurance
issues he was awesome to have on

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he talks about you know basement
suites he's building multi-family

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properties yeah really really good
guy and yeah he's pumping out a

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ton of social yeah great podcast
great podcast guest down to earth

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knows the stuff like knows what's
going on in the industry.

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He was an awesome guy to talk And
to.

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he really wanted to get the word
out about the insurance issues

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that he's running into because
he's been helping rebuild so many

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homes on the west side from the
fire that you're running into the

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same issues over and over again.

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So he wanted to get the word out.

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So this is a good episode if
you're affected by that at all.

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Yeah.

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Or even anyone else going forward.

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Yeah.

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Yeah.

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And we talked about like And we
talked about like how he quotes

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jobs as well.

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And yeah, there's a lot of good

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information, but none of it can
really be covered.

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Like it's so generic and vague.

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And like, we ask a lot of specific

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questions, but like none of it can
be covered on just like a 45

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minute podcast.

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So just reach out to him.

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He seems like a very accessible
guy and yeah, ask him some

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questions.

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And this And this podcast, like

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every other podcast is sponsored
by Century 21 Assurance Realty,

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the best brokerage in town.

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And not just town, the whole area.

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We're talking Okanagan, Kelowna,
Vernon, Shuswap, Salmon Arm,

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Kamloops, Kootenays.

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We're in Castlegar now.

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We've really expanded throughout
the whole interior, almost feels

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like.

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Not the whole interior, but a big

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part of the southern interior.

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We're there.

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So if you're an agent looking to
join a team that's up and coming

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reach out if you're a home buyer
or home seller looking for an

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agent call us up love to help
enjoy the show you guys okay

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welcome to the show adam galbraith
uh how's it adam galbraith uh

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how's it going man it's going good
how are you guys doing good good

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so how we like to start a show is
just what's your perfect friday

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like?
What gives you kind of

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productivity, energy, and what do
you do for fun leading into the

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weekend?
Perfect how are Friday, it's quite

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a bit of ongoing work for me on
weekends.

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Often I'm dealing with invoicing
and looking at one of our apps

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that we use to build, which is
called Builder Trend, which does

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all our cost analysis and updating
messages and stuff like that.

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So that's usually that.

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But I do, as I mentioned before we

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started this, I run Kelowna Men's
Basketball League.

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So my perfect weekend involves
playing basketball every weekend,

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generally every Sunday, if I can.

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I do play pickleball and other

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activities with my girlfriend Jen
and just try to keep active.

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That's really the key for me in
perfect weekends.

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How much running you got to do in
basketball?

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I have to run quite a bit.

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I mean, as I've gotten older, like

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I do less running for sure now
that I'm, you know, recently 40,

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but I try to keep up with the
young kids as we play in that open

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division and the best that I can.

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Where do you guys host it?

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So we run it on iMac, iMaculata.

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And it's been going for now 22

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years, the same thing.

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So I play in the open division,

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which is the one I run and shout
out to Jeremy Lipin, who runs the

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other one, which is masters.

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And we do play in both Sunday,

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Monday, or Tuesday is generally
when we play.

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It's fun, man.

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It's fun to get to still be a part

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of that.

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As I've gotten older, I want to

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compete still in things in life
and find that challenging to do.

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So I'm like, you know, by keeping
basketball alive, which was

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something I was passionate about
when I was young, gives me that

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competition where we get to still
kind of have that.

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I love that.

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I just joined a men's league

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hockey.

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No way.

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Oh my God.

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I had like 19 years.

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I haven't played hockey in the
last three games.

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Yeah.

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It's been awesome.

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Right though.

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Like using muscles.

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I didn't, I swear like this used
to be easy.

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Yeah, it was, though.

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Like was, but it's cause you stop.

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That's the key, right?
I actually just joined a road

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hockey league with my girlfriend
as well.

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And I love hockey and I love to
play sports.

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I just like to do stuff like that.

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So, and it makes me feel good to

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be active.

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So to me, that's something I don't

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want to let go of.

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Yeah.

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I love I love it.

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Basketball was always hard for me.

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That was not my sport.

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Okay.

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Well tell us a little bit about
yourself.

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ARG.

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Yeah.

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Start to finish was not my sport.

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to finish kind of.

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Yeah.

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so ARG is my name, Adam Ross

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Galbraith.

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I started this company about five

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and a half years ago.

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I wish I could tell you guys that

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I had this big strategic plan for
things to go the way that it did

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so far.

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But I didn't.

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I was actually a manager in health
and safety for Maple Rinders for

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quite a while.

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And I made really good money at

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it.

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And it just got so political.

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And I remember one day we had a
meeting for six hours basically

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and then we left that meeting to
have a meeting about that meeting

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and i was like what are we fucked
what the fuck are we doing here

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man i'm like i can't do this shit
anymore so that was kind of the

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slow progression that i got not
kicked out but wanted to wean out

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of that and i was like i don't
want to do this anymore and my

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earning potential was very capped
in that position and it was like

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well what am i going to do this
anymore.

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And my earning potential was very
capped in that position.

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And it was like, what well, am I
going to do?

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And then I started ironically from
what we just talked about, I

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started doing tile work is how
this all started for me on the

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side.

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I was running in bathrooms and

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doing all this stuff.

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And a good buddy of mine just

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said, he's like, why don't you do
this?

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And I was like, yeah, why don't I
do this?

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And then kind of just blew up from
there.

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started doing reno's predominantly
i met a couple great designers in

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town and i basically was like give
me a chance i'll kill it and then

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i did and then they told their
friends who told their friends and

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i started working with the grand
fast and isabes and cara from

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bualis and it just kind of like
evolved from there and then just

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being ambitious i was like okay
well now we got to be building

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like that's the next step here and
so went after that and started

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getting a bunch of builds and then
you know the next step is

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development so now we're you know
looking at doing an apartment in

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the spring where again i have a
mentor who's been doing

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developments he's like 69 and he's
taking me in at his wing and

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really like taught me about how to
assess developments how to

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understand if they're you know
cost plus and if it makes sense to

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do it.

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And I'm still learning by no means

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do I know that area yet, but just,
you know, really embracing his

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knowledge has been huge.

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And he's the one who's kind of

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helped, you know, navigate me
through this first development.

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I'm greatly appreciative of it.

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So you've been taking advantage of

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any of the government programs or
any kind of nice financing?

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So that is a great question.

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You know, it's funny when I got

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into this plan for this
development, I had him kind of in

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my back corner helping me navigate
through this.

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And we met with a bunch of
marketing companies to go, okay,

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how do we do this?
And they were at first going to be

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like for sale.

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And then with his wisdom and

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connections, he was like, you
know, why don't we look into

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exactly that?
CHMA, do we qualify for this?

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Does this area meet these
qualifications?

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And one thing led to another.

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And next thing you know, I'm

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having a meeting with Dominion
Lending Management privately

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saying, I think this is a good
idea.

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They agreed.

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And now we've, you know, quite a

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few steps through this.

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And we're basically at the

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approval point within the next
month on that.

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So it's a pretty exciting thing to
get to be a part of for me, for

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sure.

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So you guys are holding this for

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the future purpose built, right?
We're going to keep the building.

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the building yeah i'm gonna have
to bring in an equity partner

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because i do have to come up with
five percent of the projected

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budget which is going to be like
two million bucks or something

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00:07:42,715 --> 00:07:46,387
yeah but yeah i mean we're gonna
keep it as a rental i'm actually

248
00:07:46,287 --> 00:07:49,968
making it because i'm an animal
lover i have two dogs and cats and

249
00:07:49,968 --> 00:07:53,233
my cats are named lebron and james
by the way that's a funny one but

250
00:07:53,233 --> 00:07:54,764
i'm a big lebron fan.

251
00:07:54,764 --> 00:07:55,577
I love animals.

252
00:07:55,577 --> 00:07:57,085
So I'm making pet friendly
rentals.

253
00:07:57,085 --> 00:07:59,597
You know, the FAR on those
locations are wild and you could

254
00:07:59,597 --> 00:08:01,210
put like, I think it was like 120
units on this.

255
00:08:01,210 --> 00:08:03,182
And I'm like, I don't want to do
that.

256
00:08:03,182 --> 00:08:04,793
I want to build for the people.

257
00:08:04,758 --> 00:08:06,206
I want people to live here and

258
00:08:06,206 --> 00:08:06,827
want to live here long-term.

259
00:08:06,827 --> 00:08:07,978
So we've designed it pet friendly,

260
00:08:07,944 --> 00:08:10,357
not only, but also have storage on
each floor for those rentals.

261
00:08:10,357 --> 00:08:13,287
So trying to really take the idea
of, I don't want to ever be a

262
00:08:13,287 --> 00:08:14,407
hundred percent profit minded
builder.

263
00:08:14,407 --> 00:08:16,273
I don't, I just don't want to do
that.

264
00:08:16,273 --> 00:08:18,963
I think the best is like, if you
keep the mindset of like, I'm

265
00:08:18,963 --> 00:08:21,846
building for the people and I want
to do what's right for the people,

266
00:08:21,846 --> 00:08:23,058
that image gets put out.

267
00:08:23,158 --> 00:08:24,725
And it's like a circle, like

268
00:08:24,725 --> 00:08:27,979
you're just, you're in the good
vibe circle of what you should do

269
00:08:27,979 --> 00:08:30,200
instead of like, I want to make as
much money as I can.

270
00:08:30,200 --> 00:08:31,520
I don't want to be like that.

271
00:08:31,520 --> 00:08:32,015
So, yeah.

272
00:08:32,015 --> 00:08:34,774
I mean, I think you what the fuck
are we doing for me, for think you

273
00:08:34,774 --> 00:08:35,357
see that everywhere.

274
00:08:35,357 --> 00:08:36,789
It's a pretty small industry, no

275
00:08:36,789 --> 00:08:38,174
matter where you go.

276
00:08:38,075 --> 00:08:39,926
So yeah, if you have the right

277
00:08:39,926 --> 00:08:41,710
mindset, like you won't be short.

278
00:08:41,710 --> 00:08:42,107
Yeah.

279
00:08:42,107 --> 00:08:42,239
Yeah.

280
00:08:42,239 --> 00:08:42,900
I agree.

281
00:08:42,900 --> 00:08:43,664
I agree for sure.

282
00:08:43,664 --> 00:08:44,914
I'm actually naming that after my

283
00:08:44,914 --> 00:08:46,123
grandfather passed away.

284
00:08:46,123 --> 00:08:47,568
So I'm naming that building the

285
00:08:47,568 --> 00:08:47,846
Gabriel.

286
00:08:47,846 --> 00:08:49,402
And my hope is to do one next to

287
00:08:49,402 --> 00:08:52,108
it the following year, which would
be called the Odessa, which is

288
00:08:52,108 --> 00:08:52,687
after my grandma.

289
00:08:52,687 --> 00:08:53,651
They were very important to me

290
00:08:53,651 --> 00:08:55,772
when I grew up and still are to
this day.

291
00:08:55,772 --> 00:08:56,016
Cool.

292
00:08:56,016 --> 00:08:56,260
Yeah.

293
00:08:56,260 --> 00:08:59,120
There's one thing in there you're
talking about cost plus, like how

294
00:08:59,120 --> 00:09:00,894
do you quote some of the jobs
right now?

295
00:09:00,794 --> 00:09:01,982
Like obviously we've seen like
massive volume loss.

296
00:09:01,982 --> 00:09:02,360
It is crazy.

297
00:09:02,440 --> 00:09:03,354
Do you normally quote quote cost

298
00:09:03,454 --> 00:09:04,370
plus?
So renovations are only cost plus

299
00:09:04,370 --> 00:09:04,776
for us.

300
00:05:50,320 --> 00:05:51,674
There's too many unknown

301
00:05:51,674 --> 00:05:51,868
variables.

302
00:05:51,868 --> 00:08:00,713
Just there is.

303
00:08:00,613 --> 00:09:05,790
And we've seen too many crazy
things.

304
00:09:05,690 --> 00:09:09,021
If I was to give you a hard price
on a renovation, I wouldn't say

305
00:09:09,021 --> 00:09:11,889
I'm taking advantage of you, but
I'm covering my liability of what

306
00:09:11,789 --> 00:09:12,307
I could find.

307
00:09:12,307 --> 00:09:14,513
So that's not fair to you either.

308
00:09:14,513 --> 00:09:18,400
And just the way we do business as
ARGs, we're 100% transparent.

309
00:09:18,500 --> 00:09:21,802
So if we purchase an item for your
job, we send you an itemized list

310
00:09:21,702 --> 00:09:24,060
that shows your receipt, what it
costs, what our percentage is and

311
00:09:24,460 --> 00:09:25,083
what we charge.

312
00:09:25,083 --> 00:09:26,226
There's no hidden, oh, it's this

313
00:09:26,226 --> 00:09:26,745
much, it's 3000.

314
00:09:26,745 --> 00:09:29,135
And it doesn't explain why that we

315
00:09:29,135 --> 00:09:30,262
don't do anything like that.

316
00:09:30,262 --> 00:09:31,488
Like it's very transparent.

317
00:09:31,388 --> 00:09:34,761
So I think being like that has
been a really big factor for us to

318
00:09:34,761 --> 00:09:38,601
getting more and more work because
it's just the cost is there's,

319
00:09:38,601 --> 00:09:39,680
we're not hiding anything.

320
00:09:40,040 --> 00:09:42,357
And I think that's the best way to

321
00:09:42,257 --> 00:09:43,626
be in this industry.

322
00:09:43,726 --> 00:09:45,861
But with builds, you can get a

323
00:09:45,861 --> 00:09:47,619
little easier with hard cost
numbers.

324
00:09:47,619 --> 00:09:48,909
Again, the better and more
in-depth plan you have on your

325
00:09:49,009 --> 00:09:52,140
build, the easier it is to be
like, okay, this is your build

326
00:09:52,140 --> 00:09:52,260
number.

327
00:09:52,260 --> 00:09:54,332
And we can stick to this as long

328
00:09:54,332 --> 00:09:55,120
as you're not making changes.

329
00:09:55,200 --> 00:09:55,407
Yeah.

330
00:09:55,407 --> 00:09:59,329
So I guess maybe we should take a
step back and for a listener back

331
00:09:59,329 --> 00:10:02,145
and for a listener that maybe
doesn't know, like there's cost

332
00:10:02,145 --> 00:10:02,770
plus.

333
00:10:02,770 --> 00:10:03,396
Yeah, exactly.

334
00:10:03,396 --> 00:10:04,656
So Yeah, exactly.

335
00:10:04,556 --> 00:10:06,361
So basically a cost plus project

336
00:10:06,361 --> 00:10:08,680
would be whatever the contractor's
margin is, which ours is 15%,

337
00:10:08,680 --> 00:10:09,797
which is pretty standard.

338
00:10:09,697 --> 00:10:11,054
Some of the bigger companies will

339
00:10:11,054 --> 00:10:13,764
have a higher margins just because
they have to cover their costs of

340
00:10:13,764 --> 00:10:14,331
larger overhead.

341
00:10:14,331 --> 00:10:15,327
But yeah, ours is 15%.

342
00:10:15,327 --> 00:10:18,502
So it would be whatever we
purchase and do for your job based

343
00:10:18,502 --> 00:10:20,505
off of sub trades, materials, you
know, finishes, labors, whatever

344
00:10:20,605 --> 00:10:22,446
we charge that plus our percentage
to be profitable company yeah and

345
00:10:22,446 --> 00:10:26,144
then the other is just a build
price where we would say okay we

346
00:10:26,144 --> 00:10:29,570
can build your house for 400 a
square foot that's the you know

347
00:10:29,570 --> 00:10:31,920
per square foot times that number
is what it's going to cost you to

348
00:10:31,920 --> 00:10:34,640
build your house on average you
know it feels like a lot of people

349
00:10:34,640 --> 00:10:38,000
know it feels like a lot of people
wanted a fixed price previously

350
00:10:38,000 --> 00:10:40,240
but like the way you phrase it is
perfect because it is unfair to

351
00:10:40,240 --> 00:10:43,378
them because no builder yeah you i
can't take take the sure exactly

352
00:10:43,378 --> 00:10:46,849
so you have to overestimate
because of what you could find so

353
00:10:46,749 --> 00:10:50,550
to me it's like i mean at the end
of the day if you're gonna hire

354
00:10:50,533 --> 00:10:52,599
anyone you know especially a
contractor but anyone you need to

355
00:10:52,599 --> 00:10:55,844
a trust them you do whatever
you're doing like you need to have

356
00:10:55,844 --> 00:10:59,047
a relationship where you can look
at me and go this is what's

357
00:10:59,047 --> 00:11:04,809
happening this is what the cost is
going to be and if you don't like

358
00:11:04,809 --> 00:11:08,305
it let's go in and look this is
why it has to be this because we

359
00:11:08,305 --> 00:11:10,755
found this problem or this and
that's why and the better you are

360
00:11:10,755 --> 00:11:13,208
to build those relationships and
people know that you're not

361
00:11:13,208 --> 00:11:15,484
fucking around then it's easier
because you're just like yeah okay

362
00:11:15,484 --> 00:11:17,846
that's what it is right well so i
mean you're probably going to get

363
00:11:17,846 --> 00:11:18,248
probably going to get a better
discount on products anyways 100

364
00:11:18,248 --> 00:11:21,103
with the volume that you do or
labor that so and that's a do or

365
00:11:21,103 --> 00:11:22,520
labor that so and that's a great
point.

366
00:11:22,520 --> 00:11:23,803
Thanks for bringing that up.

367
00:11:23,803 --> 00:11:24,709
You know, clients sometimes

368
00:11:24,709 --> 00:11:28,257
they're like, whoa, 15%, but I'm
like, you know, on your

369
00:11:28,257 --> 00:11:30,469
appliances, I save you like two
grand or on your flooring.

370
00:11:30,466 --> 00:11:30,564
Yeah.

371
00:11:30,564 --> 00:11:31,645
Like at the end of the, exactly.

372
00:11:31,645 --> 00:11:34,772
At the end of the job, you're
saving as much or more than my

373
00:11:34,772 --> 00:11:37,379
cost is normally off of all the
items that we buy.

374
00:11:37,379 --> 00:11:39,160
So it does add up significantly.

375
00:11:39,160 --> 00:11:40,086
And that is something that the

376
00:11:40,086 --> 00:11:42,047
listener should keep in mind when
they hire any contractor.

377
00:11:42,047 --> 00:11:43,820
Somebody wants to wants to hire
you to build their house.

378
00:11:43,820 --> 00:11:45,379
Like at what point do you want
them to call?

379
00:11:45,379 --> 00:11:48,440
Do you want them to call you when
they're looking for a lot or like

380
00:11:48,440 --> 00:11:51,032
after they buy a lot?
call you when they're looking for

381
00:11:51,032 --> 00:11:53,216
a lot or like after they buy a
lot?

382
00:11:53,216 --> 00:11:54,808
I think it would be subjective.

383
00:11:54,808 --> 00:11:56,024
I mean, the more communication you

384
00:11:56,024 --> 00:11:56,936
have in life, in everything, the
better.

385
00:11:56,936 --> 00:11:59,414
So if you were looking like, hey,
well, right, though, like if you

386
00:11:59,414 --> 00:12:02,879
want me to be your builder and you
want me to be involved, then if

387
00:12:02,879 --> 00:12:04,332
you're going to buy a lot that has
no services and then I'm going to

388
00:12:04,332 --> 00:12:07,935
say, okay, well now you've got to
put 300 K to get services to your

389
00:12:08,035 --> 00:12:08,284
lot.

390
00:12:08,184 --> 00:12:09,815
That might be a very important

391
00:12:09,815 --> 00:12:11,919
deciding factor if you want to buy
that lot.

392
00:12:11,919 --> 00:12:15,469
So you might not do all the due
diligence you should because you

393
00:12:15,469 --> 00:12:15,737
don't know.

394
00:12:15,837 --> 00:12:17,024
So to me, the more information,

395
00:12:17,024 --> 00:12:18,311
the better, the more
communication, the better.

396
00:12:18,311 --> 00:12:20,484
But yeah, I would say ideally, you
know, worst case scenario, you buy

397
00:12:20,484 --> 00:12:21,480
a lot.

398
00:12:21,480 --> 00:12:23,394
Then we'd come look at it and say,

399
00:12:23,394 --> 00:12:24,281
well, unfortunately you don't have
services.

400
00:12:24,277 --> 00:12:25,860
We're gonna have to do this, this
and that.

401
00:12:25,860 --> 00:12:27,803
But you know, again, I would just
say that the more communication,

402
00:12:27,803 --> 00:12:28,183
the better.

403
00:12:28,183 --> 00:12:28,400
Yeah.

404
00:12:28,400 --> 00:12:30,506
And are you getting involved in, I
mean, you are on your own

405
00:12:30,506 --> 00:12:31,534
portfolio, it sounds like, but
like helping other people

406
00:12:31,534 --> 00:12:29,677
subdivide and build.

407
00:12:29,642 --> 00:12:29,765
Yeah.

408
00:12:29,765 --> 00:12:31,534
Honestly, again, I want to say I'm
the guy for the people.

409
00:12:31,534 --> 00:12:32,810
I want everyone to do well.

410
00:12:32,810 --> 00:12:35,470
When I hire sub trades, I tell

411
00:12:35,470 --> 00:12:37,327
them like, I want you to make
money.

412
00:12:37,327 --> 00:12:39,526
I'm not going to nickel and dime
you.

413
00:12:39,526 --> 00:12:42,099
I want you to do well, but I'm
going to hold you accountable.

414
00:12:42,099 --> 00:12:44,341
And I'm going to say, I want the
best product here.

415
00:12:44,341 --> 00:12:47,409
And if you don't get it, I'm going
to make sure that I get it because

416
00:12:47,509 --> 00:12:48,827
that's my job for the client.

417
00:12:48,827 --> 00:12:49,620
As the general, I also want

418
00:12:49,620 --> 00:12:50,640
everyone to do well.

419
00:12:50,800 --> 00:12:51,387
That includes my clients.

420
00:12:51,386 --> 00:12:53,150
I want you to, you know, succeed.

421
00:12:53,145 --> 00:12:54,566
And if we can do stuff that's

422
00:12:54,566 --> 00:12:56,143
going to help you, then that's our
job.

423
00:12:56,143 --> 00:12:57,720
Like that's what we do.

424
00:12:57,940 --> 00:12:58,612
So to me, it's yeah.

425
00:12:58,700 --> 00:12:59,738
However we can.

426
00:12:59,638 --> 00:13:01,850
So right now you're doing a lot of

427
00:13:01,850 --> 00:13:02,250
renovations still.

428
00:13:02,350 --> 00:13:02,750
Yeah.

429
00:13:02,650 --> 00:13:04,100
So honestly, this year has been
wild.

430
00:13:04,100 --> 00:13:06,030
I thought with all the builds we
had that we would be predominantly

431
00:13:05,930 --> 00:13:07,013
in the build world.

432
00:13:06,982 --> 00:13:07,974
We've been connected to quite a

433
00:13:08,074 --> 00:13:10,362
few insurance jobs where I
thought, okay, you know, we've won

434
00:13:10,362 --> 00:13:13,558
some of them, but with insurance,
you don't really know, like maybe

435
00:13:13,558 --> 00:13:16,562
you're the winning bid, but they
could get that and sell their lot.

436
00:13:16,462 --> 00:13:17,218
And then that's it.

437
00:13:17,218 --> 00:13:17,428
Right.

438
00:13:17,428 --> 00:13:20,674
So you wouldn't even know, but
we've had so many renovations this

439
00:13:20,674 --> 00:13:22,455
year and it's been more than I
projected for sure.

440
00:13:22,455 --> 00:13:25,055
So on average, we probably have
four to five going at once that

441
00:13:25,055 --> 00:13:26,080
are, you know, 200 K plus.

442
00:13:26,080 --> 00:13:27,255
What are people renovating right

443
00:13:27,255 --> 00:13:28,040
now?
Like let's see, you know,

444
00:13:28,100 --> 00:13:29,346
kitchens, man, kitchens, the
number one, we do so many

445
00:13:29,346 --> 00:13:29,435
kitchens.

446
00:13:29,435 --> 00:13:31,191
I mean, it's just, it's just the

447
00:13:31,291 --> 00:13:31,918
heart of the home, man.

448
00:13:31,893 --> 00:13:33,356
And, and i really agree with it

449
00:13:33,456 --> 00:13:35,272
the more i'm like i'm in my
kitchen or my you know office

450
00:13:35,272 --> 00:13:38,340
those are my two areas so i'm like
i get it but i would say kitchens

451
00:13:38,400 --> 00:13:42,080
bathrooms we have one that we're
doing in late country right now

452
00:13:42,200 --> 00:13:44,445
with cara from blue alice which is
a big outdoor structure it's on

453
00:13:44,445 --> 00:13:46,710
the water it's going to be
beautiful you will see some social

454
00:13:46,610 --> 00:13:49,862
media on that after but and it
also has a kitchen and stuff like

455
00:13:49,862 --> 00:13:54,672
that so yeah it kind of varies you
know but yeah what's kind of the

456
00:13:54,672 --> 00:13:57,480
time frame i guess mean, it's my
two areas so i'm what's kind of

457
00:13:57,700 --> 00:14:01,660
the time frame i guess if somebody
has a lot they want to do a new

458
00:14:01,560 --> 00:14:03,537
build this new like permitting
everything start finish so it

459
00:14:03,537 --> 00:14:06,133
depends on on your municipality
i'll tell you that right off the

460
00:14:06,133 --> 00:14:08,865
hop lake country i was gonna say
let's start with lake country dude

461
00:14:08,765 --> 00:14:12,364
i i don't want to say anything too
negative i'll say it what do you

462
00:14:12,364 --> 00:14:15,759
want to say well i'll just tell
you the truth is that lake country

463
00:14:15,759 --> 00:14:18,290
job i just told you about with
carol blue house we're doing an

464
00:14:18,290 --> 00:14:21,009
outdoor structure and they were
like uh we're not even doing a

465
00:14:20,909 --> 00:14:23,309
bathroom we're like what's your
septic plan and i was like what

466
00:14:23,309 --> 00:14:25,920
i'm like we're not even touching
about this went on for months

467
00:14:25,920 --> 00:14:28,181
before i could get that permit and
in fairness they're understaffed

468
00:14:28,181 --> 00:14:29,220
and they don't have this.

469
00:14:29,220 --> 00:14:30,313
So we talked to them.

470
00:14:30,313 --> 00:14:31,844
They're like, we're no, not
understaffed.

471
00:14:31,844 --> 00:14:33,884
We're just trying to figure out
how to do it all.

472
00:14:33,884 --> 00:14:33,957
Yeah.

473
00:14:33,957 --> 00:14:35,986
And I mean, there's a bunch of

474
00:14:35,986 --> 00:14:39,100
variables that I don't like about
them and I don't want to put them

475
00:14:39,100 --> 00:14:41,098
down because I do a lot of work
there.

476
00:14:41,098 --> 00:14:43,096
So I would just say they're trying
their hardest.

477
00:14:43,096 --> 00:14:44,550
They're getting better at it.

478
00:14:44,550 --> 00:14:45,856
What I would suggest as a

479
00:14:45,856 --> 00:14:48,535
contractor who does work with all
the other municipalities is one is

480
00:14:48,535 --> 00:14:51,279
let me text building inspectors
that's not something they do there

481
00:14:51,279 --> 00:14:32,572
i have building inspectors all
across west columbia and here wfn

482
00:14:32,572 --> 00:14:53,627
and i'll say i'm doing this what
do you think and i'm cutting out

483
00:14:53,627 --> 00:14:55,986
everyone because we're just going
i know what to do but ultimately

484
00:14:55,986 --> 00:15:00,514
you're going to have to approve
what we're doing so if we can just

485
00:15:00,514 --> 00:15:02,989
directly communicate and i can say
is this okay and you're happy with

486
00:15:02,989 --> 00:15:05,951
it then we all win and we've cut
out everything else and it's a is

487
00:15:05,951 --> 00:15:08,486
this okay and you're happy with it
then we all win and we've cut out

488
00:15:08,449 --> 00:15:09,927
everything else yeah and it's a
two-second combo and we're very

489
00:15:09,917 --> 00:15:12,516
transparent we just want to do
what you want and we don't want

490
00:15:12,516 --> 00:15:15,880
any issues so as long as we can
all you know and that's something

491
00:15:15,880 --> 00:15:18,759
that they don't really dig into in
lake country and i don't know why

492
00:15:18,759 --> 00:15:21,891
and the turnaround time for the
permits is quite tough but i will

493
00:15:21,891 --> 00:15:26,003
say there's been a couple times
where maybe i didn't give them all

494
00:15:26,003 --> 00:15:28,126
the information they should have
and that delayed it.

495
00:15:28,083 --> 00:15:28,760
And that's my fault.

496
00:15:28,800 --> 00:15:29,732
So I'll take some accountability

497
00:15:29,732 --> 00:15:30,056
on that too.

498
00:15:30,056 --> 00:15:31,079
as So I'll take some

499
00:15:31,079 --> 00:15:31,734
accountability on that too.

500
00:15:31,730 --> 00:15:32,939
So if you're dealing with a

501
00:15:32,939 --> 00:15:34,389
municipality like Lake does it
Country, cost the homeowner more

502
00:15:34,389 --> 00:15:35,284
money?
I would say not really.

503
00:15:35,284 --> 00:15:36,802
I I don't charge them more money
for that.

504
00:15:36,802 --> 00:15:38,997
mean, I don't charge anything to
do with permitting.

505
00:15:38,997 --> 00:15:39,884
It's just part of the job.

506
00:15:39,884 --> 00:15:41,572
And if it takes me longer, it's

507
00:15:41,572 --> 00:15:42,389
part of doing it.

508
00:15:42,389 --> 00:15:43,884
I mean, like like carrying costs

509
00:15:43,884 --> 00:15:47,376
financing it is obviously going to
be yeah yeah exactly that's a

510
00:15:47,376 --> 00:15:50,977
great point obviously you know if
you're doing stuff like that where

511
00:15:50,977 --> 00:15:53,753
you have financing the longer it
takes the more money you're going

512
00:15:53,753 --> 00:15:56,326
to be putting out generally i
would say they are definitely a

513
00:15:56,326 --> 00:15:59,282
little bit more challenging in the
country just because of the size

514
00:15:59,283 --> 00:16:01,897
of it it seems like they're
undersized for the demand to me

515
00:16:01,897 --> 00:16:03,989
that's what i would say but I know
that they just got one of the West

516
00:16:03,980 --> 00:16:04,356
Kelowna guys left West Kelowna to
work.

517
00:16:04,320 --> 00:16:04,547
Yes, yes.

518
00:16:04,402 --> 00:16:04,602
Baruch.

519
00:16:04,456 --> 00:16:04,846
And then he quit.

520
00:16:04,701 --> 00:16:04,941
Oh, no. Oh, my God, dude.

521
00:16:04,932 --> 00:16:07,453
I was like, I was so happy because
I was texting him.

522
00:16:07,453 --> 00:16:09,176
I'm like, oh, thank God you're
here now.

523
00:16:09,176 --> 00:16:09,591
And he was.

524
00:16:09,591 --> 00:16:10,214
That's what I heard.

525
00:16:10,214 --> 00:16:10,837
That was months.

526
00:16:10,837 --> 00:16:11,667
No, that's what I heard.

527
00:16:11,667 --> 00:16:12,083
Oh, my God.

528
00:16:12,083 --> 00:16:14,083
So he was only there for a short

529
00:16:14,083 --> 00:16:14,408
time.

530
00:16:14,408 --> 00:16:14,570
Yeah.

531
00:16:14,570 --> 00:16:15,111
And I was.

532
00:16:15,111 --> 00:16:16,680
I think we can't win in their guns

533
00:16:16,680 --> 00:16:17,438
a place.

534
00:16:17,438 --> 00:16:19,269
And like, I make this he did great

535
00:16:19,269 --> 00:16:22,543
and i think even they have the
manager i think his name's greg

536
00:16:22,543 --> 00:16:25,820
he's done well too i just it's
such a process and like i just

537
00:16:25,754 --> 00:16:11,356
think it would be very challenging
to revamp that whole thing like

538
00:16:28,060 --> 00:16:33,792
like to be super productive even
like emailing in plans they don't

539
00:16:33,640 --> 00:16:34,220
like that they want you to drop
them off in person and i'm like

540
00:16:34,172 --> 00:16:37,960
why are we doing this man like
everyone else i could just do

541
00:16:37,933 --> 00:16:37,960
that.

542
00:16:37,944 --> 00:16:37,960
So whatever.

543
00:16:37,982 --> 00:16:40,240
This is what it i And he was.

544
00:16:40,195 --> 00:16:41,480
That's what I heard.

545
00:16:41,454 --> 00:16:41,480
That was months.

546
00:16:43,500 --> 00:16:44,553
No, that's what I what it is.

547
00:16:44,516 --> 00:16:44,759
Well, okay.

548
00:16:44,759 --> 00:16:45,528
Let's say you're building in

549
00:16:45,490 --> 00:16:45,690
Kelowna.

550
00:16:45,653 --> 00:16:46,628
There's a service lot.

551
00:16:46,628 --> 00:16:47,359
The world is aligned.

552
00:16:47,359 --> 00:16:47,640
Everything's perfect.

553
00:16:47,603 --> 00:16:48,343
Nine to 12 months.

554
00:16:48,334 --> 00:16:49,358
Nine to 12 months.

555
00:16:49,358 --> 00:16:52,806
So I tell every client nine to 12
So I tell every client nine to 12

556
00:16:52,806 --> 00:16:52,960
months.

557
00:16:52,960 --> 00:16:53,690
Obviously there's variables.

558
00:16:53,690 --> 00:16:55,491
If materials, roof trusses come
screwed up, which has happened,

559
00:16:55,491 --> 00:16:56,369
have delayed plumbing fixture,
whatever.

560
00:16:56,367 --> 00:16:57,740
There's just things you can't
control.

561
00:16:57,740 --> 00:17:00,700
But nine to 12 months, we're doing
one for the Emsley family in Royal

562
00:17:00,700 --> 00:17:01,641
Heights right now.

563
00:17:01,641 --> 00:17:03,383
And it almost looks like we'll be

564
00:17:03,383 --> 00:17:04,656
very close in seven months this
year.

565
00:17:04,656 --> 00:17:05,460
Honestly, the pieces aligned.

566
00:17:05,460 --> 00:17:07,202
I kind of mentioned this earlier,

567
00:17:07,202 --> 00:17:10,260
but we run a software program
called BuilderTrend, which I'm so

568
00:17:10,680 --> 00:17:11,583
a fan of.

569
00:17:11,483 --> 00:17:12,520
I love technology.

570
00:17:12,560 --> 00:17:14,351
And it basically allows us to
communicate with all of our trades

571
00:17:14,351 --> 00:17:16,602
through that and update all of our
plans, permits, you know, anything

572
00:17:16,602 --> 00:17:18,700
to do with the job goes into this
app.

573
00:17:19,099 --> 00:17:21,643
And essentially every trade can
then open it, look at it and

574
00:17:21,643 --> 00:17:22,353
answer their own questions.

575
00:17:22,353 --> 00:17:24,000
And then if they have questions,

576
00:17:24,000 --> 00:17:25,224
they can actually ask me through
the app.

577
00:17:25,224 --> 00:17:27,409
It'll go to a group of our
managers and then they can answer

578
00:17:27,409 --> 00:17:27,462
it.

579
00:17:27,462 --> 00:17:28,367
So it's very streamlined.

580
00:17:28,367 --> 00:17:30,914
And I think the more information
and communication you have, the

581
00:17:30,914 --> 00:17:31,123
better.

582
00:17:31,123 --> 00:17:32,100
That probably helps you with

583
00:17:32,100 --> 00:17:33,773
budgeting in the future and big
time.

584
00:17:33,773 --> 00:17:37,283
So that program actually keeps
track of all of our previous jobs

585
00:17:37,283 --> 00:17:40,720
and it builds a history of costs
per whatever, based on everything

586
00:17:40,718 --> 00:17:42,204
from tiles to flooring to
everything, framing per square

587
00:17:42,202 --> 00:17:42,548
foot, whatever.

588
00:17:42,548 --> 00:17:43,093
It's pretty cool.

589
00:17:43,093 --> 00:17:45,582
And for the cost, I don't know why
everyone's not doing it.

590
00:17:45,582 --> 00:17:16,602
It cost me like eight grand a year
year like the value is so over

591
00:17:16,602 --> 00:17:19,742
what it costs all my employees
track all their time through it if

592
00:17:48,058 --> 00:17:51,540
you ask me about a job you can
open it click on it it'll tell you

593
00:17:51,540 --> 00:17:54,224
how to get to that job everything
that's phenomenal yeah sounds

594
00:17:54,124 --> 00:17:55,440
awesome yeah for you it frees up a
lot of time for you it frees up a

595
00:17:55,440 --> 00:18:00,040
lot of time yeah it's like there's
a couple things on there i don't

596
00:18:00,040 --> 00:18:03,487
know if you have the data
available like in your head but

597
00:18:03,487 --> 00:18:07,054
like what is the average cost that
you've seen over the last few

598
00:18:07,054 --> 00:18:10,321
years in terms of like projects
and homes like what are people

599
00:18:10,321 --> 00:18:13,468
spending i would say the average
build what are people spending i

600
00:18:13,468 --> 00:18:16,470
would say the average build right
now is probably 1.2 to 1.4

601
00:18:16,548 --> 00:18:20,060
somewhere in there that's why i've
seen plus a lot plus a lot okay

602
00:18:20,060 --> 00:18:23,420
yeah so that's what i'm seeing
obviously there's variables those

603
00:18:23,420 --> 00:18:24,912
are pretty decent sized houses
too, right?

604
00:18:24,912 --> 00:18:28,186
Like, you know, I don't think I
can disclose some of those

605
00:18:28,086 --> 00:18:28,275
information.

606
00:18:28,375 --> 00:18:29,976
But on average, I would say the

607
00:18:29,976 --> 00:18:32,554
one we're doing is 3,800 square
feet for around 1.4.

608
00:18:32,554 --> 00:18:32,791
Okay.

609
00:18:32,791 --> 00:18:33,306
So yeah.

610
00:18:33,206 --> 00:18:36,196
Taylor and I have talked before
about having like, there's kind of

611
00:18:36,196 --> 00:18:38,498
a missing three bedroom, 2,000
square foot house.

612
00:18:38,498 --> 00:18:39,969
So they just don't build them.

613
00:18:39,969 --> 00:18:40,480
don't build them.

614
00:18:40,480 --> 00:18:42,990
There's some big developments in
talk for town that I know of that

615
00:18:43,090 --> 00:18:46,456
are looking looking at meeting
those needs and that's all i can

616
00:18:46,356 --> 00:18:49,749
say about it but that's what i'm
hearing for a town like for a

617
00:18:49,849 --> 00:18:53,478
klona okay yeah okay yeah yeah
yeah more out in the west side

618
00:18:53,478 --> 00:18:57,893
area but yeah i don't know when or
where but i think that's kind of

619
00:18:57,893 --> 00:19:02,480
what people are shooting for and i
agree there's a gap in that for

620
00:19:02,380 --> 00:19:04,842
sure seems like all the new houses
are all either condos townhouses

621
00:19:04,942 --> 00:19:07,976
or like these big giant houses i
mean the problem is too is is too

622
00:19:07,976 --> 00:19:10,681
is like affordability right but so
what we've talked about is like

623
00:19:10,681 --> 00:19:12,672
okay you can build an affordable
structure but the but the land is

624
00:19:12,672 --> 00:19:14,779
still so expensive so then to
justify the resale on it or the

625
00:19:14,779 --> 00:19:18,515
investment on the structure you
kind of need to build it bigger

626
00:19:18,515 --> 00:19:18,895
you're right and then it's like
yeah well then you're just over

627
00:19:18,895 --> 00:19:20,830
budget yeah it's a tough market
honestly and just over budget yeah

628
00:19:20,830 --> 00:19:22,891
it's a tough market honestly and
i've said this about kelowna and

629
00:19:22,891 --> 00:19:25,722
okanagan in general for quite a
long time but it's its own

630
00:19:25,722 --> 00:19:28,123
ecosystem like it just really is
right everyone loves this area

631
00:19:28,123 --> 00:19:30,485
everyone loves the weather here
people are coming from huge

632
00:19:30,485 --> 00:19:32,857
municipalities like vancouver
calgary toronto to live here and

633
00:19:30,048 --> 00:19:32,857
they're selling a home that's a
shithole for two million dollars

634
00:19:32,857 --> 00:19:36,939
so they're like yeah i'm coming
here i'm gonna build a mansion

635
00:19:36,939 --> 00:19:39,207
yeah's a shithole for $2 So
they're million.

636
00:19:39,207 --> 00:19:40,588
I'm coming like, yeah, here.

637
00:19:40,588 --> 00:19:43,162
I'm going to build a mansion and

638
00:19:43,162 --> 00:19:43,892
not own it.

639
00:19:43,892 --> 00:19:45,834
So it's just like, I don't think

640
00:19:45,934 --> 00:19:46,583
that's going to change.

641
00:19:46,583 --> 00:19:47,659
And partially what's lucky for us

642
00:19:47,659 --> 00:19:51,238
is that it's almost kind of
recession proof in a way because

643
00:19:51,238 --> 00:19:55,020
that's continuing us to always
kind of keep moving because of

644
00:19:55,240 --> 00:19:55,538
that.

645
00:19:55,538 --> 00:19:56,782
Well, what's probably huge for you

646
00:19:56,782 --> 00:20:00,640
guys, you know, that's going to be
coming in 2025 is like we were

647
00:20:00,760 --> 00:20:01,152
talking about off-air.

648
00:20:01,080 --> 00:20:01,440
CMHC coming out with 30-year

649
00:20:01,400 --> 00:20:03,289
amortizations up to 1.5 million
insured purchases.

650
00:20:03,289 --> 00:20:03,701
So huge.

651
00:20:03,701 --> 00:20:04,584
There's so many houses or

652
00:20:04,584 --> 00:20:06,350
townhouses that just couldn't make
that happen.

653
00:20:06,350 --> 00:20:09,276
But now like building a home for
1.3, 1.4, you can get it insured

654
00:20:09,276 --> 00:20:10,244
on a 30-year am.

655
00:20:10,244 --> 00:20:11,073
There's so 30-year am.

656
00:20:11,073 --> 00:20:14,889
To me, it's like's like you know
we said this off air but that is a

657
00:20:14,889 --> 00:20:17,586
long time coming and it's unfair
to people like you know the amount

658
00:20:17,586 --> 00:20:20,768
of money you need to make in this
town and then be a homeowner is

659
00:20:20,768 --> 00:20:23,394
insane it really is for most
people and that's unfair and i'm

660
00:20:23,394 --> 00:20:26,651
like how do we do that is by
giving longer amortization and

661
00:20:26,651 --> 00:20:29,519
being able to you know have less
down payment makes it so much more

662
00:20:29,519 --> 00:20:33,455
attainable for them for everyone
like you know so i just i'm super

663
00:20:33,455 --> 00:20:35,780
pumped about that and yeah
obviously i do think that will be

664
00:20:35,780 --> 00:20:38,507
good for my industry specifically
but also yours obviously so yeah i

665
00:20:38,507 --> 00:20:41,552
think it'll be good for everyone
for across the board for like

666
00:20:41,552 --> 00:20:44,404
building trends are you seeing
anything cool right now like is it

667
00:20:44,404 --> 00:20:44,039
still i don't I don't i don't I
don't know.

668
00:20:44,039 --> 00:20:44,889
It's all subjective.

669
00:20:44,889 --> 00:20:47,316
Like I said, I work with a lot of

670
00:20:47,316 --> 00:20:48,955
designers and I don't know,
trends.

671
00:20:48,955 --> 00:20:52,184
Like I'm thinking like is ICF a
thing that's like, I think it's a

672
00:20:52,184 --> 00:20:53,925
cool way to do things.

673
00:20:53,925 --> 00:20:55,348
I personally don't know enough

674
00:20:55,348 --> 00:20:56,291
about it, honestly.

675
00:20:56,291 --> 00:20:58,232
And that's just to be honest.

676
00:20:58,232 --> 00:21:03,260
I wish I could tell you that I
did, but what I do know is I

677
00:21:03,260 --> 00:21:04,967
probably see it one out of every
30 houses maybe.

678
00:21:04,809 --> 00:21:04,979
So it's not huge yet.

679
00:21:04,936 --> 00:21:05,380
I think it could be be i'll tell

680
00:21:05,226 --> 00:21:06,575
you something that i've done
recently as a test and i thought

681
00:21:06,575 --> 00:21:09,760
it was pretty cool and it made me
have some ideas on how to really

682
00:21:09,760 --> 00:21:13,823
pump some houses out but lot 22 is
a spec house i'm building to sell

683
00:21:13,823 --> 00:21:18,844
and if i don't make money on it
maybe live in but uh it is in west

684
00:21:18,844 --> 00:21:22,074
colonel what we did is we
prefabbed it so normally you see

685
00:21:21,974 --> 00:21:25,135
that for like apartments and stuff
like that and i was like well can

686
00:21:25,135 --> 00:21:30,829
we do this and so i looked into it
it literally cost me almost no

687
00:21:30,829 --> 00:21:34,507
difference between framing it and
prefabbing it because the framing

688
00:21:34,507 --> 00:21:39,528
is the framing so we had that
whole building up in about nine

689
00:21:39,528 --> 00:21:32,040
days everything and then the roof
we got delayed because of some

690
00:21:32,040 --> 00:21:45,520
trash issues but to to me, if you
can hit that market, like you're

691
00:21:45,520 --> 00:21:48,338
saying of two or three bedroom
houses, you could really do that

692
00:21:48,338 --> 00:21:50,927
as long as you could plan it out
strategically.

693
00:21:50,927 --> 00:21:54,582
And, you know, I think you could
do 10 to 20 of those a year if

694
00:21:54,582 --> 00:21:55,930
you're prefabbing them that way.

695
00:21:55,930 --> 00:21:58,559
You know, prefab kind of got a bad

696
00:21:58,559 --> 00:22:02,320
name for a while because it was
like, you know, seven dudes who

697
00:22:02,320 --> 00:22:04,867
probably shouldn't have been
framing houses in a yard to now

698
00:22:04,867 --> 00:22:07,692
it's like a million dollar, two
million dollar CNC machine that's

699
00:22:07,692 --> 00:22:10,009
gotten things and labeling it,
printing it out like a freaking

700
00:22:10,009 --> 00:22:10,260
printer.

701
00:22:10,260 --> 00:22:11,227
And it's pretty cool.

702
00:22:11,227 --> 00:22:15,019
Like, you know, when I got to see
my walls come in, it was, you

703
00:22:15,019 --> 00:22:17,674
know, says my name and it says
layouts and stud layouts and

704
00:22:17,674 --> 00:22:20,321
dimensions and what that room is
right on it.

705
00:22:20,321 --> 00:22:21,722
So it's come a long way.

706
00:22:21,722 --> 00:22:22,913
So who did the prefab?

707
00:22:22,072 --> 00:22:22,563
Eric at Paragon.

708
00:22:22,563 --> 00:22:22,913
Yes.

709
00:22:23,013 --> 00:22:24,805
Yeah, it was pretty cool.

710
00:22:24,805 --> 00:22:25,926
I to think, honestly, prefab is

711
00:22:25,926 --> 00:22:27,187
going to start taking off.

712
00:22:27,187 --> 00:22:28,868
I don't understand why it

713
00:22:28,868 --> 00:22:29,429
wouldn't.

714
00:22:29,429 --> 00:22:31,177
The big thing is you do need guys

715
00:22:31,177 --> 00:22:32,398
who can think outside the box of
it.

716
00:22:32,498 --> 00:22:35,630
You need very good foundations and
very good, like that first floor.

717
00:22:35,630 --> 00:22:37,205
If you have variances in that, in
that concrete, you're going to

718
00:22:37,172 --> 00:22:38,825
have a tough, tough to land those
walls.

719
00:22:38,825 --> 00:22:41,716
It's better to be under because
you could grout them in.

720
00:22:41,716 --> 00:22:45,528
Whereas if you're grinding and
then you're going to be delayed in

721
00:22:45,528 --> 00:22:46,540
time, but I'm surprised it's not.

722
00:22:46,540 --> 00:22:48,301
And when I told some of my builder

723
00:22:48,301 --> 00:22:50,297
friends that I was doing it,
they're like, are you fucking

724
00:22:50,297 --> 00:22:51,581
kidding me?
I'm like, why aren't you?

725
00:22:51,581 --> 00:22:54,778
Like, what am I missing here?
Why is this not a good idea?

726
00:22:54,778 --> 00:22:58,634
Beauty of this is you can do the
foundation at the same time the

727
00:22:58,634 --> 00:22:59,718
house is being built.

728
00:22:59,718 --> 00:23:00,704
That's what we did.

729
00:23:00,704 --> 00:23:02,281
Do it so quickly.

730
00:23:02,281 --> 00:23:03,759
That's what I'm saying.

731
00:23:03,759 --> 00:23:03,956
Yeah.

732
00:23:03,956 --> 00:23:07,106
It was honestly, you know, we did

733
00:23:07,106 --> 00:23:08,959
have some hiccups and there was
some learning curves.

734
00:23:08,959 --> 00:23:11,360
The biggest one was there was some
roof truss issues that has nothing

735
00:23:11,360 --> 00:23:12,581
to do with that process.

736
00:23:12,581 --> 00:23:14,758
It was on our end where we

737
00:23:14,758 --> 00:23:16,745
oversighted some things and the
engineer did and collectively

738
00:23:16,745 --> 00:23:18,101
there was some issues.

739
00:23:18,101 --> 00:23:20,134
But from the day that we started

740
00:23:20,134 --> 00:23:22,675
landing walls and all that
happening was like nine days and

741
00:23:22,675 --> 00:23:23,333
the exterior sheeted.

742
00:23:23,333 --> 00:23:24,290
So like, it's like ready for

743
00:23:24,290 --> 00:23:27,041
roughing like almost immediately
and if we didn't have those delays

744
00:23:27,041 --> 00:23:31,038
just call it two weeks and you
have a roof that is being jingled

745
00:23:31,038 --> 00:23:34,310
or whatever and ready in two weeks
like that's crazy to me yeah so

746
00:23:34,310 --> 00:23:36,540
especially especially here when
like our building window is like

747
00:23:36,540 --> 00:23:38,583
yeah i mean obviously everyone
still builds throughout the here

748
00:23:38,583 --> 00:23:40,713
when our building window is like
yeah i mean obviously everyone

749
00:23:40,613 --> 00:23:43,927
still builds throughout the winter
but like let's be honest it sucks

750
00:23:43,927 --> 00:23:47,099
and to tell a client hey it's
going to cost you twenty thousand

751
00:23:47,099 --> 00:23:50,550
dollars because we have to tell a
client hey it's going to cost you

752
00:23:50,550 --> 00:23:53,319
twenty thousand dollars because we
have to hoard and heat your house

753
00:23:53,319 --> 00:23:55,420
yes is a tough pill to swallow so
the more you can be proactive in

754
00:23:55,420 --> 00:23:58,753
planning to dodge that the better
it is for everyone right so what

755
00:23:58,753 --> 00:24:01,784
is i mean this is probably a tough
question but what is the most

756
00:24:01,784 --> 00:24:04,714
expensive thing on a house when
we're talking like foundation wood

757
00:24:04,703 --> 00:24:07,350
finishing kind of what's a big is
i mean this is probably a tough

758
00:24:07,342 --> 00:24:09,733
question but what is the most
expensive thing on a house when

759
00:24:09,733 --> 00:24:11,940
we're talking like foundation wood
finishing kind of a big expense

760
00:24:12,060 --> 00:24:16,077
framing and labor and lumber costs
like that just adds up so i mean i

761
00:24:16,077 --> 00:24:19,220
think it depends obviously on the
size of your house and your plans

762
00:24:19,320 --> 00:24:22,241
but is that being impacted now
with like step now with like step

763
00:24:22,241 --> 00:24:24,880
codes kind of coming into play
yeah so in fairness i'm building

764
00:24:24,880 --> 00:24:27,409
those five houses three of them
are energy efficient homes so they

765
00:24:27,409 --> 00:24:28,397
have triple glazed windows high
efficiency furnaces high

766
00:24:28,397 --> 00:24:30,164
efficiency all water tanks stuff
like that to meet step code four

767
00:24:30,164 --> 00:24:33,388
but you don't have to you can
build a step code three if it's

768
00:24:33,388 --> 00:24:36,058
within your budget i think you
should because it's going to help

769
00:24:36,058 --> 00:24:38,043
you long term it's going to save
you money and to me it's a resale

770
00:24:38,043 --> 00:24:40,826
factor like hey this is an energy
efficient home i would say to back

771
00:24:40,926 --> 00:24:42,886
to what you're saying it's the
framing lumber and exterior

772
00:24:42,886 --> 00:24:46,135
finishes are very expensive like
more than you'd think yeah and if

773
00:24:46,135 --> 00:24:49,125
you can kind of plan that out
strategically to have the accents

774
00:24:49,125 --> 00:24:52,623
to make a home beautiful but not
go over zealous on it then you can

775
00:24:52,623 --> 00:24:56,439
put more money into your inside
which is where you're going to be

776
00:24:56,439 --> 00:24:59,047
like you know but again that's
subjective right some people want

777
00:24:59,047 --> 00:25:02,355
you know whatever appearance that
they want and maybe the inside is

778
00:25:02,455 --> 00:25:05,853
less important to them or vice
versa right well something on that

779
00:25:05,853 --> 00:25:07,919
too actually it's pretty that too
actually it's pretty interesting

780
00:25:07,919 --> 00:25:10,927
that i don't think a lot of people
know about but with this recent

781
00:25:10,927 --> 00:25:14,758
change will be a big impact is if
you get a step code house i think

782
00:25:14,758 --> 00:25:18,265
it's before 2021 and after maybe
2019 and after you get 25 of your

783
00:25:18,265 --> 00:25:16,502
cmhc default insurance back no way
i didn't actually i didn't

784
00:25:16,502 --> 00:25:19,916
actually know that yeah did that
just come into play or what's been

785
00:25:19,916 --> 00:25:22,192
around for years no did that just
come into play or what's been

786
00:25:22,192 --> 00:25:21,557
around for years no way four years
now so it's funny though like not

787
00:25:21,557 --> 00:25:25,027
a lot of people know about it but
not a lot of people are buying

788
00:25:25,027 --> 00:25:27,083
scattered houses that are under a
million dollars and insured and

789
00:25:27,083 --> 00:25:30,935
sure now that they're a million
and a half and you can insure it i

790
00:25:30,935 --> 00:25:33,853
think that's going to be a huge
yeah right because people are

791
00:25:33,853 --> 00:25:36,157
paying paying $20,000, $25,000 in
CMHC default insurance at that

792
00:25:36,157 --> 00:25:36,320
price.

793
00:25:36,320 --> 00:25:37,741
If you're going to get $80,000,

794
00:25:37,741 --> 00:25:38,233
$90,000 back.

795
00:25:38,233 --> 00:25:40,817
going to to get That's good to

796
00:25:40,817 --> 00:25:41,270
know.

797
00:25:41,270 --> 00:25:33,853
I did not know that.

798
00:25:33,853 --> 00:25:34,900
Yeah, for sure.

799
00:25:34,900 --> 00:25:36,047
It all adds up, right?

800
00:25:36,047 --> 00:25:36,157
Yeah.

801
00:25:36,157 --> 00:25:37,413
Adam, so you've been quite

802
00:25:37,413 --> 00:25:38,834
involved in the rebuild in West
Kelowna.

803
00:25:38,834 --> 00:25:39,380
Correct.

804
00:25:39,380 --> 00:25:39,682
Yes.

805
00:25:39,682 --> 00:25:43,463
So how's that going?
Do you have any houses still on

806
00:25:43,463 --> 00:25:45,130
the go right now?
We do.

807
00:25:45,130 --> 00:25:46,748
All the houses we're building
right did not know that.

808
00:25:46,748 --> 00:25:47,558
Yeah, for sure.

809
00:25:47,558 --> 00:25:49,119
So right now are for the rebuilds

810
00:25:49,119 --> 00:25:50,772
currently, except for one of them.

811
00:25:50,772 --> 00:25:51,975
I guess it's mine, but I the lot

812
00:25:51,975 --> 00:25:55,860
so yeah but it's a rebuild it's
going great i mean it's had some

813
00:25:55,860 --> 00:25:59,720
challenges i would say wfn where
most of them are had been a great

814
00:25:59,720 --> 00:26:04,355
to deal with the way that they've
kind of helped the clients and you

815
00:26:04,355 --> 00:26:06,362
know there's always challenging
with builds wherever you're doing

816
00:26:06,362 --> 00:26:09,503
it so i would would say, you know,
that's kind of subjective, but the

817
00:26:09,503 --> 00:26:11,672
big challenge for me is been
dealing with the insurance of

818
00:26:11,672 --> 00:26:13,829
people and how I would say some
people are kind of been taken

819
00:26:13,829 --> 00:26:16,086
advantage of with their insurance
and, you know, being underinsured

820
00:26:16,086 --> 00:26:17,556
and not understanding their
insurance policies.

821
00:26:17,556 --> 00:26:22,138
And a lot of times, like, I don't
know if you guys have ever read

822
00:26:22,138 --> 00:26:24,620
your insurance policy, but it's a
tough read.

823
00:26:24,620 --> 00:26:26,759
Like it is a tough fucking read,
Like man.

824
00:26:26,759 --> 00:26:27,031
purpose.

825
00:26:27,031 --> 00:26:27,235
Yeah.

826
00:26:27,235 --> 00:26:28,118
Yeah.

827
00:26:28,118 --> 00:26:29,613
Well, I totally agree with that.

828
00:26:29,613 --> 00:26:32,950
It's a tough read yeah like it is
a tough fucking read man like on

829
00:26:32,950 --> 00:26:36,089
purpose yeah yeah well i totally
agree with that it's a hundred

830
00:26:36,089 --> 00:26:39,178
percent on purpose and what
they'll tell you is oh you got a

831
00:26:39,178 --> 00:26:42,691
hundred percent replacement cost
you got this you got that and they

832
00:26:42,691 --> 00:26:46,031
give you this like fairy dust
feeling of okay we're good to go

833
00:26:46,031 --> 00:26:47,941
but you're not and you need to
really dig in what am i covered

834
00:26:47,937 --> 00:26:51,159
for what is excluded why how can
we make it excluded what are you

835
00:26:51,159 --> 00:26:53,564
assessing my rebuild value at have
you done a bunch of renovations to

836
00:26:53,564 --> 00:26:57,473
your home and now your home's
value goes up to whatever like

837
00:26:57,473 --> 00:27:01,594
those things are relevant and the
problem is insurance their job i

838
00:27:01,594 --> 00:27:04,878
hate to say it but their job is to
make sure you don't get that money

839
00:27:04,878 --> 00:27:04,878
like that's how they make money is
by not paying you out right so

840
00:27:04,878 --> 00:27:06,930
obviously i would say not
everyone's like that but that's

841
00:27:06,930 --> 00:27:09,319
how insurance works so you really
need to do your due diligence on

842
00:27:09,319 --> 00:27:11,003
your policies and make sure you're
covered.

843
00:27:11,003 --> 00:27:16,173
You know, one of the calls I got
this year was a guy who was, you

844
00:27:16,173 --> 00:27:19,204
know, very distraught because he
lost his home in that fire and he

845
00:27:19,204 --> 00:27:21,964
was offered 500K on a $1.4 million
house and he still had a mortgage

846
00:27:21,964 --> 00:27:25,214
left and he was, you know,
basically told, you know, pound

847
00:27:25,214 --> 00:27:25,636
sound.

848
00:27:25,636 --> 00:27:26,900
And that was terrible.

849
00:27:27,400 --> 00:27:29,400
This guy's crying and like, I lost
my house.

850
00:27:20,880 --> 00:27:30,560
And this is And this is somebody
who has insurance.

851
00:27:30,560 --> 00:27:32,632
Yeah had insurance covered Yeah
had insurance covered yes and

852
00:27:32,632 --> 00:27:36,096
that's what's so sad to me is like
you know and i really wish there

853
00:27:36,096 --> 00:27:38,803
was a level of accountability for
these insurance companies where

854
00:27:38,803 --> 00:27:40,900
they're like okay you just bought
this place you're doing this or

855
00:27:40,900 --> 00:27:31,912
that this is the value you need to
be insured for let's figure out

856
00:27:31,912 --> 00:27:44,424
how we do that because other than
that how are you assessing value

857
00:27:44,424 --> 00:27:47,653
how are they like and who's doing
that like yeah there's got to be a

858
00:27:47,653 --> 00:27:50,565
liability associated to that
that's what i'm to be a liability

859
00:27:50,565 --> 00:27:53,458
associated to that's what i'm
saying there has to be

860
00:27:53,458 --> 00:27:55,543
accountability and like you know
again we mentioned this off air

861
00:27:55,543 --> 00:27:58,505
but one of the properties i had
just reinsured they had me

862
00:27:58,505 --> 00:28:02,577
reinsured for i think it was like
under 200 a square foot to

863
00:28:02,677 --> 00:28:02,947
rebuild.

864
00:28:02,847 --> 00:28:05,042
Although this house is something I

865
00:28:04,942 --> 00:28:06,901
would tear down, that is still
impossible to do.

866
00:28:06,901 --> 00:28:09,199
So that was just what they gave
me.

867
00:28:09,199 --> 00:28:11,146
But I'm like, how did you come up
with that number?

868
00:28:11,123 --> 00:28:13,387
How did you figure that out?
Because it doesn't make sense.

869
00:28:13,387 --> 00:28:17,417
So then I had to go back and go,
well, I'm a builder and there's no

870
00:28:17,417 --> 00:28:18,156
way this is possible.

871
00:28:18,156 --> 00:28:20,574
So let's relook at this and then

872
00:28:20,574 --> 00:28:20,919
do it.

873
00:28:20,919 --> 00:28:22,231
And obviously my premiums went up

874
00:28:22,231 --> 00:28:24,039
and everything, whatever, but
that's what you got to do.

875
00:28:23,848 --> 00:28:24,837
So are you working with people
over there that were well-insured?

876
00:28:24,724 --> 00:28:25,910
I would say two of them, all of
them that I've worked with that

877
00:28:25,797 --> 00:28:26,285
I've even heard of.

878
00:28:26,285 --> 00:28:27,590
And I'll say a TD insurance was

879
00:28:27,590 --> 00:28:30,718
one that has done so well for one
of my clients and the way that

880
00:28:30,718 --> 00:28:31,306
they've handled everything.

881
00:28:31,306 --> 00:28:32,129
I was really impressed.

882
00:28:32,129 --> 00:28:34,725
And even dealing with them now,
we've had a lot of geotechnical

883
00:28:34,725 --> 00:28:36,995
issues where there's a retaining
wall next to one of my clients

884
00:28:36,995 --> 00:28:39,938
houses that we're worried that it
could come down and so we've kind

885
00:28:39,938 --> 00:28:44,384
of gone back and forth saying like
hey we need more money like a lot

886
00:28:44,384 --> 00:28:47,438
of that lot was all sand so it had
very not good structural material

887
00:28:47,438 --> 00:28:50,567
there yeah so you know going back
and forth with them and for

888
00:28:50,567 --> 00:28:52,478
additional charges because of
what's right they're just like

889
00:28:52,478 --> 00:28:54,553
yeah we'll figure it out so i
would say i was super impressed

890
00:28:54,553 --> 00:28:57,158
with some of them but not all of
them are like that for sure.

891
00:28:57,158 --> 00:28:58,592
So people should read their
insurance policies.

892
00:28:58,592 --> 00:28:59,392
People should dig.

893
00:28:59,392 --> 00:29:01,354
Obviously we're through this fire

894
00:29:01,354 --> 00:29:04,130
we're through this fire season,
but like, yeah, next one's coming.

895
00:29:04,130 --> 00:29:04,299
Yeah.

896
00:29:04,299 --> 00:29:05,987
And I just not even Yeah.

897
00:29:05,987 --> 00:29:09,237
And I just not even that, like I'm
actually meeting with a guy on

898
00:29:09,237 --> 00:29:11,460
Friday, Sonny, his house burnt
down because of electrical fire.

899
00:29:11,460 --> 00:29:15,300
So you need to know like, and he
is insured well, and he's going to

900
00:29:15,300 --> 00:29:19,000
do okay but if you're not you know
what are you going to do like

901
00:29:18,900 --> 00:29:23,044
what's the plan there because if
you have to come up with 500k to

902
00:29:23,044 --> 00:29:24,888
rebuild your house for most people
that's going to be a real big

903
00:29:24,888 --> 00:29:27,448
thing like these fires were a year
august big thing like these fires

904
00:29:27,448 --> 00:29:30,895
were a year august 17th last year
yeah so that's over a year you're

905
00:29:30,895 --> 00:29:32,962
still building these houses so
yeah looking like two years for

906
00:29:32,962 --> 00:29:36,932
sure they're out so i guess for
your insurance company you got to

907
00:29:36,932 --> 00:29:39,568
figure out that well and what are
they covering for your live up

908
00:29:39,568 --> 00:29:42,320
yeah like that's a big question
out that well and what are they

909
00:29:42,320 --> 00:29:45,589
covering for your live up yeah
like that's a big question because

910
00:29:45,589 --> 00:29:48,674
in the event it's a total loss
you're gonna have to live

911
00:29:48,674 --> 00:29:49,497
somewhere for a year and a half at
least it's not just one person

912
00:29:49,497 --> 00:29:52,831
like we're talking about and a
half at least it's not one person

913
00:29:52,831 --> 00:29:55,268
like we're talking about family
yeah exactly yeah new flows new

914
00:29:55,268 --> 00:29:58,405
food well i mean we've spoken
about that too it's like airbnb

915
00:29:58,405 --> 00:29:59,791
now taken off the market.

916
00:29:59,791 --> 00:30:01,253
talking about family yeah yeah new

917
00:30:01,253 --> 00:30:05,040
flows new food well i mean we've
spoken about that too it's like

918
00:30:05,380 --> 00:30:07,368
airbnb now taken off the market.

919
00:30:07,268 --> 00:30:08,212
Where do people go?

920
00:30:08,212 --> 00:30:10,732
You got to find a full single
family house to rent somewhere.

921
00:30:10,706 --> 00:30:11,446
And there's a housing.

922
00:30:11,446 --> 00:30:12,299
Which is a huge cost.

923
00:30:12,274 --> 00:30:15,130
And which is why I think it's so
funny on how things are so delayed

924
00:30:15,230 --> 00:30:15,867
in the insurance industry.

925
00:30:15,867 --> 00:30:17,587
Why are you taking seven months to

926
00:30:17,587 --> 00:30:19,905
make decisions on shit when you're
paying for these people's live

927
00:30:19,805 --> 00:30:21,469
outs, food, all this stuff?
Like what's happening?

928
00:30:21,469 --> 00:30:24,190
Why are we not just going, okay,
this is the value.

929
00:30:24,190 --> 00:30:28,342
This is, is i hate to say it but
it's because they're like well

930
00:30:28,342 --> 00:30:31,617
where can we keep this money now
where can we give it right yeah

931
00:30:31,617 --> 00:30:34,140
that sucks one of my clients don
and gail the sweetest couple

932
00:30:34,140 --> 00:30:36,146
they're older and their house
burnt down and they've lived there

933
00:30:36,146 --> 00:30:39,592
for 25 years something like that
never had a claim never had any

934
00:30:39,592 --> 00:30:42,714
issues basically at all and they
lost their house and they're like

935
00:30:42,714 --> 00:30:44,970
being battled to cover their
septic system.

936
00:30:44,970 --> 00:30:47,809
And I'm like, well, you can't
build a new house without a new

937
00:30:47,809 --> 00:30:48,038
septic.

938
00:30:48,038 --> 00:30:48,839
If this isn't allowed.

939
00:30:48,839 --> 00:30:50,954
So why would that not be a part of
the bill?

940
00:30:50,954 --> 00:30:51,983
And that's like $30,000, $40,000.

941
00:30:51,983 --> 00:30:53,240
So it's like, why should they come

942
00:30:53,240 --> 00:30:55,600
up with that?
And a lot of the other insurances

943
00:30:55,600 --> 00:30:56,120
are covering it.

944
00:30:56,120 --> 00:30:57,796
So I'm like, why are you doing

945
00:30:57,796 --> 00:30:57,969
that?
Right.

946
00:30:57,969 --> 00:31:01,220
And it's just stuff like that,
where you're like, these people

947
00:31:01,220 --> 00:31:01,755
lost everything.

948
00:31:01,755 --> 00:31:02,886
And now you're going to battle

949
00:31:02,886 --> 00:31:05,131
them on something that's clearly a
part of making a new house,

950
00:31:05,131 --> 00:31:07,825
whether you like it or not, you've
got to have somewhere for that to

951
00:31:07,825 --> 00:31:08,300
go.

952
00:31:08,400 --> 00:31:10,250
So why should they cover that?

953
00:31:10,250 --> 00:31:11,450
You know?
So it's just stuff like that where

954
00:31:11,350 --> 00:31:13,985
I'm like, man, it frustrates me
that that's what has happened.

955
00:31:13,985 --> 00:31:16,140
But you know, at the end of the
day, I just want people to do

956
00:31:16,140 --> 00:31:19,791
their own due diligence and dig in
and look at your policies and, and

957
00:31:19,691 --> 00:31:22,489
really do your homework because I
don't want any more of those calls

958
00:31:22,489 --> 00:31:25,269
from someone like that who lost
their house yeah yeah so when

959
00:31:25,269 --> 00:31:28,509
you're doing the build do you talk
to the insurance company like i do

960
00:31:28,509 --> 00:31:30,766
everything within client kind of
relations and podcasts yeah but i

961
00:31:30,766 --> 00:31:34,526
do everything with the people i'm
better with the people than i am

962
00:31:34,526 --> 00:31:35,283
at building i do have a business
partner his name's dan pivotal

963
00:31:35,283 --> 00:31:38,475
part of my team he's a journeyman
carpenter who's a great builder

964
00:31:38,475 --> 00:31:42,451
and we've got a good team together
and his end is a lot more on that

965
00:31:42,451 --> 00:31:46,223
side than it is mine to be honest
so i do talk to insurance i've

966
00:31:46,223 --> 00:31:48,781
actually helped clients kind of
battle insurance to get what they

967
00:31:48,781 --> 00:31:47,822
could out of them even if i don't
get the job which i didn't on a

968
00:31:47,822 --> 00:31:51,276
couple of them but a lot of it's
just doing what i think is right

969
00:31:51,276 --> 00:31:54,019
is what's important and everything
comes around if you do that in my

970
00:31:54,019 --> 00:31:55,603
opinion love to hear it yeah
what's your slogan it should be

971
00:31:55,603 --> 00:31:55,277
for the people you know anything i
don't like we're getting into the

972
00:31:55,463 --> 00:31:57,140
stuff?
Like why so when you're you know

973
00:31:57,140 --> 00:32:00,198
anything i don't like we're
getting into the political season

974
00:32:00,198 --> 00:31:56,628
i don't have a slogan i wish i did
but i don't um know anything i

975
00:31:56,628 --> 00:32:00,984
don't like we're getting into the
political season i don't i don't a

976
00:32:00,984 --> 00:32:06,200
slogan i wish i but i my wife
wanted me to ask you this but like

977
00:32:06,200 --> 00:32:08,500
i know it's difficult but
difference in costs let's say

978
00:32:08,500 --> 00:32:10,875
renovation to build what are you
seeing for a general like

979
00:32:10,875 --> 00:32:12,886
renovation cost per square foot
compared to like a new home?

980
00:32:12,886 --> 00:32:15,156
Yeah, I mean, the renovation cost
per square foot is so challenging

981
00:32:15,156 --> 00:32:17,272
to answer because what are you
doing?

982
00:32:17,272 --> 00:32:20,015
Like, you know, if you're doing
all new windows, doors, flooring,

983
00:32:20,015 --> 00:32:23,060
are you moving structural walls?
You know, like there's so many

984
00:32:23,060 --> 00:32:23,950
variables in that.

985
00:32:23,950 --> 00:32:24,949
I would say the average like house

986
00:32:24,949 --> 00:32:26,102
reno that we're doing is probably
for like an upstairs with

987
00:32:26,102 --> 00:32:27,828
bathrooms, kitchens, floors is
like 250 plus k on average and

988
00:32:27,828 --> 00:32:29,938
then it obviously can go
significantly up based off of your

989
00:32:29,938 --> 00:32:32,037
choices and finishes and stuff
like that the build price is

990
00:32:32,037 --> 00:32:36,595
probably more common to be around
400 to 500 again based on choices

991
00:32:36,595 --> 00:32:39,890
that is with all the land of
course yeah but again a lot of

992
00:32:39,890 --> 00:32:42,100
those things are subjective
because you could be proactive in

993
00:32:42,100 --> 00:32:45,482
trying to decrease some of those
costs by your finishes and by your

994
00:32:45,482 --> 00:32:48,119
choices right so it's a little bit
you know hard question answer i

995
00:32:48,119 --> 00:32:51,090
guess is what i would say on that
yeah are you seeing more houses

996
00:32:51,090 --> 00:32:53,590
being built with basement suites
like is that still something

997
00:32:53,590 --> 00:32:56,026
people are every single home that
i build i tell people like if you

998
00:32:56,026 --> 00:32:59,525
can afford a suite now's the time
to do it it's a great reseller in

999
00:32:59,625 --> 00:33:02,188
my opinion it's a great income
helper in my opinion i've never

1000
00:33:02,185 --> 00:33:03,680
owned a house that doesn't have a
suite.

1001
00:33:03,677 --> 00:33:05,237
Now's the time to do It's it.

1002
00:33:05,237 --> 00:33:05,591
a great reseller.

1003
00:33:05,591 --> 00:33:07,125
In my opinion, it's a great income
helper.

1004
00:33:07,103 --> 00:33:09,391
In my opinion, I've never owned a
house that doesn't have a suite in

1005
00:33:09,391 --> 00:33:10,002
my entire life.

1006
00:33:09,984 --> 00:33:12,075
The first house I ever had had a

1007
00:33:12,075 --> 00:33:12,945
basement suite in it.

1008
00:33:13,045 --> 00:33:14,739
And I just keep buying places with

1009
00:33:14,739 --> 00:33:16,246
it because I don't ever even go
down there.

1010
00:33:16,246 --> 00:33:17,847
Like, why wouldn't you do that?
Like, that's just my opinion.

1011
00:33:17,847 --> 00:33:19,851
So all of the houses I'm building
right now have them.

1012
00:33:19,851 --> 00:33:21,621
And I think it's a good idea.

1013
00:33:21,621 --> 00:33:23,039
But again, that's subjective too.

1014
00:33:23,039 --> 00:33:26,276
Like, do you have a huge house?
Do you have six kids and need all

1015
00:33:26,276 --> 00:33:27,976
of your space?
Then that's going to be different.

1016
00:33:27,976 --> 00:33:32,280
But a huge house do you have six
kids and need all of your space

1017
00:33:32,280 --> 00:33:36,514
then that's going to be different
but to me if you can create income

1018
00:33:36,514 --> 00:33:39,061
helper and you don't need a space
why wouldn't you yeah cost cost

1019
00:33:39,061 --> 00:33:43,315
for a suite high level kind of
like in terms of like looking at a

1020
00:33:43,315 --> 00:33:45,869
tough session utility built or not
built because if you're doing it

1021
00:33:45,869 --> 00:33:47,675
in like a tough session utility
built or not built because if

1022
00:33:47,675 --> 00:33:50,106
you're doing it in like a new home
it's basically the same price it's

1023
00:33:50,106 --> 00:33:53,877
when you start doing it in a house
that you're renoing the costs are

1024
00:33:53,877 --> 00:33:55,421
huge because it's fire rating,
soundproofing, HVAC, like it just

1025
00:33:55,421 --> 00:33:57,366
gets so much more intense because
you didn't forecast it in the

1026
00:33:57,366 --> 00:33:57,480
beginning.

1027
00:33:57,480 --> 00:33:58,877
So, I mean, I would say an

1028
00:33:58,877 --> 00:34:01,840
additional cost on a legal suite
in a renovation is probably 30K

1029
00:34:01,840 --> 00:34:03,077
additional to your reno, at least.

1030
00:34:03,077 --> 00:34:04,020
But obviously there's variables.

1031
00:34:04,020 --> 00:34:07,142
If you happen to have the perfect
house where you only need one fire

1032
00:34:07,142 --> 00:34:06,081
rated wall and exits and you can
get away with some things, it

1033
00:34:06,081 --> 00:34:07,377
might be a bit less.

1034
00:34:07,377 --> 00:34:07,672
Yeah.

1035
00:34:07,672 --> 00:34:12,094
like it But I mean, if you look at
it in terms of an investment, like

1036
00:34:12,094 --> 00:34:07,377
you're getting a second door, like
another rental property.

1037
00:34:07,377 --> 00:34:09,380
To me, it's a no brainer.

1038
00:34:09,380 --> 00:34:10,971
And then like a mortgage helper.

1039
00:34:10,971 --> 00:34:11,065
Yeah.

1040
00:34:11,065 --> 00:34:13,405
It's good for cashflow, but to

1041
00:34:13,405 --> 00:34:14,902
help qualify people is insane.

1042
00:34:14,902 --> 00:34:15,931
Well, that's why.

1043
00:34:15,931 --> 00:34:19,864
So that's with the spec house I
designed and built out in West

1044
00:34:19,864 --> 00:34:20,846
Florida and doing, sorry.

1045
00:34:20,846 --> 00:34:23,197
I was like, this has to have a

1046
00:34:23,197 --> 00:34:24,288
suite in it.

1047
00:34:24,288 --> 00:34:25,197
Like it's got lake views.

1048
00:34:25,297 --> 00:34:26,045
It's a beautiful property.

1049
00:34:26,045 --> 00:34:27,924
But I'm like, this is just going

1050
00:34:27,924 --> 00:34:29,994
to give more people opportunity to
buy it.

1051
00:34:29,994 --> 00:34:32,364
Like, why wouldn't you do that?
Again, that's probably from my

1052
00:34:32,264 --> 00:34:35,853
thinking of homes that I've had
where I've had suites.

1053
00:34:35,753 --> 00:34:38,900
So it might also, you might lose
some of the market because of

1054
00:34:38,900 --> 00:34:40,382
that, honestly, too, which is
okay.

1055
00:34:40,382 --> 00:34:41,866
It is what it is.

1056
00:34:41,866 --> 00:34:45,110
But like, you know, I think it

1057
00:34:45,110 --> 00:34:47,996
does make a lot of sense
personally of sense personally i

1058
00:34:47,996 --> 00:34:51,581
think yeah you i think yeah you
will lose a little bit of the

1059
00:34:51,581 --> 00:34:55,543
market but like globally i think
like we have some of the biggest

1060
00:34:55,543 --> 00:34:58,313
square footage like per household
yeah it's not like it's really

1061
00:34:58,313 --> 00:35:00,449
necessary dude it's so not dude
it's so not i was telling jenna

1062
00:35:00,449 --> 00:35:05,187
the other day like i live in three
rooms and it's really one room so

1063
00:35:05,187 --> 00:35:08,625
my office or i'm gone yeah like so
it's like i get it like we do live

1064
00:35:08,625 --> 00:35:12,204
so so it's like i get it like we
do live in this crazy world of

1065
00:35:12,204 --> 00:35:15,767
like want so much space but i
don't use it so like that's just

1066
00:35:15,767 --> 00:35:18,605
me i mean maybe other people are
different but yeah that's why we

1067
00:35:18,605 --> 00:35:21,171
started a podcast just to like
fill up a vacant room yeah it's

1068
00:35:21,171 --> 00:35:23,568
working that's not that far off
yeah yeah pretty much a good idea

1069
00:35:23,493 --> 00:35:24,627
you build it they will come all
right not that far off yeah yeah

1070
00:35:24,697 --> 00:35:25,606
pretty much a good idea you yeah
pretty much a good idea you build

1071
00:35:25,697 --> 00:35:26,835
it they will come all right well
we should be uh conscious of time

1072
00:35:26,806 --> 00:35:28,401
and start to kind of wrap this up
you got any more questions my only

1073
00:35:28,401 --> 00:35:30,307
other question is are people
putting in two suites i know with

1074
00:35:30,307 --> 00:35:32,961
the new zone you could have four
units is that something are you

1075
00:35:33,061 --> 00:35:35,720
about to that something are about
have i think the municipality is

1076
00:35:35,820 --> 00:35:39,076
going to be a thing on that and
zoning for like some people are

1077
00:35:39,076 --> 00:35:41,035
within communities that wouldn't
allow it so there'd be some

1078
00:35:41,035 --> 00:35:43,269
variables on that i actually have
never done one with two suites so

1079
00:35:43,254 --> 00:35:44,819
i can't answer that i don't know
if they're legal enough i know

1080
00:35:44,819 --> 00:35:45,813
they're legal enough i know you
could have four like stratified

1081
00:35:45,813 --> 00:35:46,996
properties but i don't think you
can have two suites can you can

1082
00:35:46,996 --> 00:35:48,286
you no i think one would have to
be like non-conforming yeah yeah

1083
00:35:48,286 --> 00:35:50,357
get the permitting done you'd have
to basically do it after rough

1084
00:35:50,357 --> 00:35:53,078
everything in and do it after yeah
yeah didn't hear that here well i

1085
00:35:53,078 --> 00:35:56,856
wonder yeah yeah didn't hear that
here well i wonder if that's the

1086
00:35:56,856 --> 00:35:55,963
thing that's going to come is two
suites yeah i think parking would

1087
00:35:55,963 --> 00:35:58,228
be parking would be your biggest
issue issue there's a housing

1088
00:35:58,228 --> 00:36:01,242
crisis crisis so it makes sense
that eventually two suites could

1089
00:36:01,242 --> 00:36:07,325
be an option i had this is a crazy
one but i had a client ask me once

1090
00:36:07,325 --> 00:36:11,543
i went to his job and he asked me
to build nine bedrooms in this

1091
00:36:11,643 --> 00:36:15,221
house and i was like what are you
fucking doing and he's like oh i'm

1092
00:36:15,221 --> 00:36:18,701
just gonna do rentals and i was
like the fuck it is obviously i'm

1093
00:36:18,701 --> 00:36:23,217
not being a part of this at all so
i was like i don't know i'm just

1094
00:36:23,217 --> 00:36:26,365
gonna do rentals and i was like
the fuck it is obviously i'm not

1095
00:36:26,265 --> 00:36:29,069
being a part of this at all so i
so it doing and oh i'm just gonna

1096
00:36:29,069 --> 00:36:31,848
do rentals and i was like the fuck
it is obviously i'm not being a

1097
00:36:31,848 --> 00:36:35,320
part of this at all so i was like
i don't know i'm just gonna do

1098
00:36:35,460 --> 00:36:39,180
rentals and i was like the fuck it
is obviously i'm not being a part

1099
00:36:39,340 --> 00:36:42,973
of this at all so i was like i
don't know i know some people do

1100
00:36:43,073 --> 00:36:45,680
some crazy stuff like that and it
was like bedrooms in a living room

1101
00:36:45,840 --> 00:36:49,457
like three i was like man i was
like i don't get part of this like

1102
00:36:49,457 --> 00:36:53,220
this is not okay but yeah so like
i don't know i feel like you know

1103
00:36:53,480 --> 00:36:56,003
with the housing crisis happening
hopefully you know that could be

1104
00:36:56,003 --> 00:36:59,056
i'm not being a part of this at
all so crisis happening hopefully

1105
00:36:59,056 --> 00:37:02,531
you know that could be a way to
answer some of it, but yeah, I

1106
00:37:02,531 --> 00:37:02,937
don't know.

1107
00:37:02,937 --> 00:37:03,904
It seems like there's space.

1108
00:37:03,804 --> 00:37:04,502
I, yeah, I don't know.

1109
00:37:04,468 --> 00:37:05,340
Interesting to follow up on.

1110
00:37:05,340 --> 00:37:05,423
Yeah.

1111
00:37:05,423 --> 00:37:05,630
Yeah.

1112
00:37:05,630 --> 00:37:06,967
That was one of Matt's clients, by
the way, asking for nine bedrooms.

1113
00:37:06,958 --> 00:37:07,913
That's where he's going with it.

1114
00:37:07,913 --> 00:37:08,113
Okay.

1115
00:37:08,079 --> 00:37:09,566
Well, good segue into our wrap up
questions.

1116
00:37:09,566 --> 00:37:13,452
If you could buy a property in the
Okanagan in the next 12 months,

1117
00:37:13,452 --> 00:37:14,738
what would it be?
A nine bedroom house?

1118
00:37:14,738 --> 00:37:17,502
Uh, what would it be?
That's house uh what would it be

1119
00:37:17,502 --> 00:37:20,358
that's a great question i like
land so i'm not a view guy

1120
00:37:20,358 --> 00:37:23,388
personally i get the view but i'm
like i want 10 acres like more

1121
00:37:23,388 --> 00:37:23,388
than i want to view so there's
actually one that i've been

1122
00:37:23,388 --> 00:37:26,561
looking at on scenic app forever
oh yeah an alr land i think it's

1123
00:37:26,561 --> 00:37:28,889
two million yeah i love that
property because i could put my

1124
00:37:28,889 --> 00:37:31,850
business there and whatever so i
would say like something like make

1125
00:37:31,850 --> 00:37:35,416
the move yeah it's something like
that is land i want to be able to

1126
00:37:35,416 --> 00:37:41,000
ride a side by side and have a
bunch of dogs yeah and put up a 10

1127
00:37:41,000 --> 00:37:38,859
foot fence and not see anybody
yeah kind of thing but ron and

1128
00:37:38,859 --> 00:37:40,628
james needs a second degree in the
future yes yes hey that's a make

1129
00:37:40,628 --> 00:37:44,138
the degree in the future yes yes
hey that's a good one i like it i

1130
00:37:44,138 --> 00:37:46,763
like it yeah if you could give
your 20 could give your 20 year

1131
00:37:46,763 --> 00:37:49,846
old self any advice what would it
be self any advice what would it

1132
00:37:49,846 --> 00:37:52,934
be oh man that's a great question
i would say get your shit together

1133
00:37:52,934 --> 00:37:54,434
earlier i struggled with just
partying and being too much fun

1134
00:37:54,434 --> 00:37:57,580
for a long time and i wish i would
have had my ducks in a row earlier

1135
00:37:57,580 --> 00:38:00,785
so i would have just said you know
start making goals and planning

1136
00:38:00,785 --> 00:38:02,949
what you want now instead of
waiting until you're 30 yeah i

1137
00:38:02,949 --> 00:38:04,980
like it do you have a favorite
charity or how do you get back i

1138
00:38:04,980 --> 00:38:08,364
like to get back to sports i'm big
on the sports and I want to

1139
00:38:08,364 --> 00:38:09,879
support like the boys and girls
club.

1140
00:38:09,879 --> 00:38:12,097
And, you know, Christmas, I wanted
to give away 500 basketballs or do

1141
00:38:12,097 --> 00:38:13,671
something like that.

1142
00:38:13,671 --> 00:38:15,504
I've actually tried to reach out

1143
00:38:15,504 --> 00:38:18,191
to the city because I wanted to
like revamp some of their

1144
00:38:18,191 --> 00:38:20,639
basketball courts and be like,
listen, I'll do this pro bono.

1145
00:38:18,496 --> 00:38:21,271
I just want to like, you know,
kind of do something like that.

1146
00:38:21,271 --> 00:38:23,400
So for me, it's like anything to
do with that.

1147
00:38:23,400 --> 00:38:24,550
I had a crazy childhood.

1148
00:38:23,745 --> 00:38:25,930
I was a handful as a kid and the

1149
00:38:25,930 --> 00:38:29,465
more i was into sports i'm a big
fan of that i think you know

1150
00:38:29,465 --> 00:38:31,340
having adversity in sports and
like struggling and getting cut

1151
00:38:31,340 --> 00:38:33,781
from teams and then being good and
you know hating your coach or a

1152
00:38:33,781 --> 00:38:36,670
player and going through all those
things is like life stuff where

1153
00:38:36,670 --> 00:38:39,836
you're gonna maybe not like some
people you work with or deal with

1154
00:38:39,836 --> 00:38:41,704
and have to deal with failure and
success.

1155
00:38:41,704 --> 00:38:43,405
And I think that's just a good
four-way, you know, stepping

1156
00:38:43,295 --> 00:38:43,621
forward into your life.

1157
00:38:43,493 --> 00:38:43,583
So sports.

1158
00:38:43,583 --> 00:38:43,633
Yeah.

1159
00:38:43,619 --> 00:38:44,070
A thousand percent agree on that.

1160
00:38:43,942 --> 00:38:43,996
Yeah.

1161
00:38:43,996 --> 00:38:44,268
Love it.

1162
00:38:44,158 --> 00:38:44,394
All right.

1163
00:38:44,320 --> 00:38:44,729
Adam, how can Taylor and I or our

1164
00:38:44,715 --> 00:38:45,200
listener help you?
Check your insurance policies.

1165
00:38:45,164 --> 00:38:45,851
Take care of yourself.

1166
00:38:45,851 --> 00:38:39,088
Look after that kind of stuff.

1167
00:38:39,686 --> 00:38:43,152
And I mean, at the end of the day,
that's why I did this is because I

1168
00:38:43,152 --> 00:38:43,669
wanted to get that message out
that people are underinsured and

1169
00:38:43,637 --> 00:38:44,445
not taking care of their self and
i don't want to hear another guy

1170
00:38:44,445 --> 00:38:45,489
call me crying because he didn't
do his stuff so that would be it

1171
00:38:45,489 --> 00:38:47,661
and then obviously follow my
social media and uh let me build

1172
00:38:47,661 --> 00:38:49,832
your house on instagram
instagram's probably our biggest

1173
00:38:49,832 --> 00:38:52,391
is erg underscore contracting is
our instagram page we do giveaways

1174
00:38:52,391 --> 00:38:54,893
there and we're going to do
another one right away so try to

1175
00:38:54,893 --> 00:38:58,489
get some people on there for that
but uh yeah help me and let me

1176
00:38:58,489 --> 00:39:02,541
build your house yeah love it
awesome well thanks so much for

1177
00:39:02,541 --> 00:38:43,621
the time man thank you guys fun
okay yeah thanks guys have a good

1178
00:38:43,493 --> 00:39:04,766
day percent agree on okay yeah
thanks guys have a good day