98: Adapting to Market Challenges & Diversifying for Success with H&H Custom Homes' Jeff Houghton

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Welcome back to the Colonial 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 Glenn.

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What's shaking, Taylor?
How was the run?

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Yeah, my legs are shaking, man.

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Run was good.

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I doubt it, dude.

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You're like the fittest guy I

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know.

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Yeah, we went down to Vancouver

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this weekend.

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I just did the BMO half, so not

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the full one.

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But man, what a beautiful race

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course.

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21K?

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Yeah.

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Yeah, it only took me six hours.

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No. Yeah, it was an hour and 50.

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So I was pretty happy.

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I doubt it, happy.

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That's pretty good.

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Yeah.

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Because I know the 10K, like you

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kind of want to get under an hour.

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So like more than double under two

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hours.

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That's pretty good.

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Yeah.

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And like Vancouver, like

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Vancouver, man, you kind of
forget.

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We haven't been there in a while.

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Like it's a gorgeous city.

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We had a ton of fun.

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Like took Leo to the women's

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professional soccer team there.

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The Rise was a great soccer game.

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Did the aquarium.

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Just yeah, it was cool to get out.

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And you kind of forget what a big
city feels like.

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And then you come back to Colonia
and you're like.

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a ton of It's tiny, but we're
getting there.

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There's a couple big buildings
going up.

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More by the second.

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How are you guys doing?

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Good.

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I have not done any half marathons

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or half marathons, but doing good.

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Adjusting to life with two kids.

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Going from one kid to two kids is
an extraordinary difference.

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It's not twice as hard.

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It's at least five or six times as

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hard.

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Yeah.

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In like six months, you'll forget
what one kid was like though.

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You'll just, this will be the new
norm.

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Oh, exactly.

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Already like we're three months in

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or whatever and it's already
getting to that point.

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So yeah, just an adjustment, but
it's been awesome.

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Yeah.

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It's not because either of the

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kids are difficult either.

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They just have different needs at

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different times and yeah, it's
just hard.

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So, but it's been also extremely
rewarding.

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also extremely rewarding.

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Sweet.

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Well, summertime's here.

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So now it's just.

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Naked baby time, you know, you let
them run around, no diapers and

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just, yeah, that's good stuff.

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Yeah, I like it.

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Yeah, well, our guest also has two
kids.

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We were talking to Jeff Houghton
from H &H Homes, Okanagan Infill.

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He's got a handful of arms of the
business, I guess.

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He's building up at Big White,
does infill projects, does custom

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homes.

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Does rental projects.

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Does rental projects, yeah.

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His background, he comes from like

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an accountant.

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type background.

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So he really knows the numbers and
knows how to make it work.

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Another great guy from Boucherie.

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I feel like half of our guests for

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some reason have been from
Boucherie, which I just love.

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But yeah, so I've known Jeff for
ages.

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Yeah, he gets some wicked products
out there.

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They've won a bunch of awards and
I love this show.

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It was great.

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I did too.

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It was just really great getting
his perspective because he's just

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in it all, right?
Doing all the things real estate.

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It was very good to talk to him.

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He's a great guy.

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Yeah, I think the takeaway here is
like, Real estate, it's not just

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one shoe fits all and you're going
to be successful if you just do

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this one thing for the next 30
years.

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You have to adapt and pivot
specifically now.

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And Jeff's obviously doing that.

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Some things are profitable for a

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few years and then it dries up and
you're on to the next until

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government policy changes or
tariffs or whatever happens.

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But yeah, lots of good information
on this one.

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So you guys are going to like it.

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I'd agree with that 100%.

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Also, we're out for Kelowna now.

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Kelowna now.

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By the time their show gets
released, you have like, Eight

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hours, maybe even less to vote for
us.

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So get on.

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Yeah, we're not the best at

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collecting votes, but it would
mean a lot to us.

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So we got nominated, but now you
got to vote for us to take the

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gold home.

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Best podcast in Kelowna.

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in Kelowna.

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Last year we won bronze.

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So we really like the gold.

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Yeah.

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Or silver, whatever.

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I'll take any step up.

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Or bronze, man.

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Bronze is pretty cool.

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Yeah.

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But yeah, it's kind of a tricky

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one to vote.

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So you got to go on Kelowna now

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and then scroll down to media and
best podcast.

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So yeah, I appreciate the support
on that one, guys.

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Yeah.

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Thank you very much.

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Thanks for last year too.

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for last year too.

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Yeah.

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This episode, like every episode

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is sponsored by Century 21
Assurance Realty.

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Brookridge in Okanagan.

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We're everywhere in all the cities

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in the interior.

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We're looking for agents, looking

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for clients, buyers, sellers.

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If you're one of those, give us a

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call.

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I'd love to talk to you.

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See if we can work out for each
other.

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Enjoy the show.

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Okay, Jeff Houghton from H &H

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Homes.

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How's it going, man?

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Hey, thank you for having me,
guys.

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Appreciate it.

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it. So we just like to start our

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show with what's your perfect
Friday look like?

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Other than, you know, you and I
running into each other at daycare

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drop off.

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What else do you do on Fridays?

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You'll get to know me here in
short order.

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get to know me here in short
order.

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I'm a pretty regimented and
disciplined person.

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So normal Friday, I actually work
out seven days a week, 5am during

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the weekdays and 6am on the
weekends.

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And I don't really miss a day.

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So good for you.

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for you.

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Nice.

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And then typical guy workouts, a
lot of weightlifting and very

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little stretching or cardio.

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And I did realize like, even

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though I'm in construction, about
95 % of the time I'm in front of a

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computer.

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So I didn't get many steps in any

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particular days.

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I'm maybe three, four or 5 ,000

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steps a day.

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And I'd read a documentary on

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these blue zones.

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If you guys know what those are.

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Yes, Yes, I had long life.

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Yeah.

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It was like a direct correlation
between the average steps you take

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each day and the longevity of your
life.

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was like a direct correlation
between the average steps you take

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each day and the longevity of your
life.

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I was like, man, I'm lifting all
these weights, but I better get my

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steps in.

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So I also, after lunch hour,

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strategically, I do a walk, a 45
-minute walk every day as well.

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Nice.

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And I'm in a flat area in the

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lower mission, so I now do a
weighted walk.

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So a walk with 40 or 50 or 60
pounds on my back.

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with So that kind of helps the
cardio, helps get me my steps in,

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and then kind of gives me that
afternoon burst of energy that I

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need from sitting in an office all
day.

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And it also helps you digest your
food.

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Nice.

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I do the same thing.

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I just slap my kids on my back
though.

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How old are your kids?
Two years and seven weeks.

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We're all in the thick of it,
right?

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Yes.

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Yes.

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But yeah, we live in McKinley.

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Hills everywhere.

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And like every time I go for a
walk, I have someone strapped to

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me.

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We're Yeah.

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And then lately, as it might get a
kick into this, but I weigh 190.

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So I'm trying to do 190 grams of
protein per day.

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I feel that's like on trend right
now.

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Yeah.

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It's honestly like a full -time

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job.

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Because you only want to eat like

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40 grams per meal.

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So you've got to space it out to

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like five meals.

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So lots of beef, you've got of

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beef, lots of eggs, and then
fruits and vegetables.

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And I've pretty much cut alcohol
to zero, carbs to zero.

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I feel way better after cutting
out the carbs.

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And like zero junk food.

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So pretty regimented, pretty

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routine.

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And then in terms of just the

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perfect Friday, as you guys know
with young kids, they're long

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weeks.

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And sometimes the weekends are

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busier.

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So the perfect Friday is like,

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it's probably to bed pretty early,
like maybe a family barbecue and

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get to bed and get ramped up for
the weekend.

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Getting ready for your 6am
workout.

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get to ready for your 6am workout.

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Yeah.

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Right.

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Yeah.

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Yeah.

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And well, Hey, something on the

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health side, not that this is a
health show, but Dr. Rhonda

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Patrick, she just.

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got out her hundredth episode,

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long episodes on podcasts.

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Like she's like over two hours and

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like very sophisticated, but a lot
of research recently shown on

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creatine for not just muscles, but
like brain bones, maybe

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incorporate some of that.

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But one interesting fact on that,

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not to get really sidetracked, but
there is quite a bit of data to

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show recovery on concussions and
prevention on concussions.

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Like that's how much it affects
the brain.

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Yeah.

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brain.

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Give it a listen.

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Shout out to Dr. Rhonda Patrick.

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Yes, you take creatine every day
and then collagen as well every

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day.

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Yes, you take creatine every day

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and then collagen as well every
day.

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Good source of collagen.

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But creatine, you got to watch

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out.

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I think I gained like 16 pounds of

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water weight when I originally
hopped on it.

267
00:07:01,850 --> 00:07:02,730
You hold a lot more water.

268
00:07:02,730 --> 00:07:05,370
That kind of peters off.

269
00:07:05,370 --> 00:07:05,770
collagen.

270
00:07:05,770 --> 00:07:07,370
Talking about work, I've known you

271
00:07:07,370 --> 00:07:11,960
for a long time and I've always
known that you've had H &H homes,

272
00:07:11,960 --> 00:07:12,840
custom homes, mostly single
family.

273
00:07:13,740 --> 00:07:17,020
Only recently, you know, I've seen
Okanagan infill on the side of

274
00:07:17,020 --> 00:07:15,060
your truck chatting to you a bit
this winter.

275
00:07:15,060 --> 00:07:17,660
I see you're up at Big White as
well.

276
00:07:17,660 --> 00:07:20,720
You're in a lot of different areas
and assets.

277
00:07:20,720 --> 00:07:23,280
Can you kind of touch over the
umbrella of your company, your

278
00:07:23,280 --> 00:07:24,820
building side?
Yeah, I'd love to.

279
00:07:24,820 --> 00:07:26,640
So H &H Homes actually
incorporated that company in my

280
00:07:26,640 --> 00:07:27,480
second year of university.

281
00:07:18,000 --> 00:07:28,700
So I'm six.

282
00:07:28,700 --> 00:07:32,220
Didn't really get on the tools
until I graduated in 2008, which

283
00:07:32,220 --> 00:07:33,400
was an interesting time to start,
right?

284
00:07:33,400 --> 00:07:33,760
Yeah.

285
00:07:34,220 --> 00:07:37,250
It was super deflated and super

286
00:07:37,250 --> 00:07:40,550
depressed, but a good time to
start because I kind of got to

287
00:07:40,550 --> 00:07:42,470
like handpick all the trades that
I wanted.

288
00:07:42,470 --> 00:07:43,110
Everyone was slow.

289
00:07:43,110 --> 00:07:43,290
Yeah.

290
00:07:43,290 --> 00:07:45,210
So I got to build a really good
team.

291
00:07:45,210 --> 00:07:47,970
I'm still using like 90 % of those
trades today, which is kind of

292
00:07:47,970 --> 00:07:48,110
neat.

293
00:07:48,110 --> 00:07:48,450
Nice.

294
00:07:48,450 --> 00:07:51,990
But yeah, so the H &H custom
homes, so that's single family

295
00:07:51,990 --> 00:07:53,250
custom homes.

296
00:07:53,250 --> 00:07:54,710
We do some spec homes as well.

297
00:07:54,710 --> 00:07:59,000
So that's been going for 16 years
and we've done about 120 homes.

298
00:07:59,000 --> 00:08:03,020
And then we do renovations and we
do some like commercial leasehold

299
00:08:03,020 --> 00:08:03,680
improvements as well.

300
00:08:04,080 --> 00:08:06,400
Yeah, we've won renovation of the

301
00:08:06,400 --> 00:08:09,040
year, home of the year and builder
of the year as well.

302
00:08:09,040 --> 00:08:10,260
So it's been a successful company.

303
00:08:10,260 --> 00:08:11,800
But as you guys can speak to, you

304
00:08:12,080 --> 00:08:14,080
can kind of see the trend,
especially in Kelowna going toward

305
00:08:14,700 --> 00:08:15,880
like densification, infill
projects.

306
00:08:15,880 --> 00:08:19,940
So I had met a guy in 2019 that
was really interested in getting

307
00:08:20,100 --> 00:08:20,520
the infill going.

308
00:08:20,520 --> 00:08:22,180
it's been So we started a company,

309
00:08:22,180 --> 00:08:22,880
Okanagan Infill.

310
00:08:22,880 --> 00:08:24,970
We're kind of niche.

311
00:08:24,970 --> 00:08:28,470
So we do like two, three, four
plexes, but kind of on the higher

312
00:08:28,470 --> 00:08:31,710
end side, kind of, you know,
bigger square footage, higher end,

313
00:08:31,710 --> 00:08:34,990
just stuff where you don't see a
lot of it in the Okanagan.

314
00:08:34,990 --> 00:08:36,630
So we've kind of got that niche
product.

315
00:08:36,630 --> 00:08:39,490
Are they stratified?
Are you selling them off or is it

316
00:08:39,490 --> 00:08:40,549
like a rental portfolio after?
Yeah.

317
00:08:41,030 --> 00:08:44,630
So in this company, they're all
stratified and all sold off.

318
00:08:44,630 --> 00:08:44,730
Okay.

319
00:08:44,730 --> 00:08:44,910
Yeah.

320
00:08:44,910 --> 00:08:48,310
And then I've got a separate, a
big white development company

321
00:08:48,310 --> 00:08:49,950
where we bought a chunk of land.

322
00:08:49,950 --> 00:08:51,990
It's part of the Sundown Strata of

323
00:08:51,990 --> 00:08:52,690
the big white.

324
00:08:52,690 --> 00:08:54,980
So we bought some residual land.

325
00:08:54,980 --> 00:08:56,580
So last year we built five units.

326
00:08:56,580 --> 00:08:59,040
We built a single family and two

327
00:08:59,260 --> 00:08:59,400
duplexes.

328
00:08:59,400 --> 00:09:00,560
And then right now we're just

329
00:09:00,560 --> 00:09:01,020
finishing off.

330
00:09:01,020 --> 00:09:01,840
We're doing a fourplex.

331
00:09:01,840 --> 00:09:05,180
And then we have a, we have a
piece of property that is actually

332
00:09:05,180 --> 00:09:06,340
touching the base of like the
bullet chairlift.

333
00:09:06,340 --> 00:09:08,980
So we own like a little piece of
property there too, which is

334
00:09:08,980 --> 00:09:09,460
pretty exciting.

335
00:09:09,460 --> 00:09:09,720
Yeah.

336
00:09:09,720 --> 00:09:13,220
So we do the developing and the
building up there.

337
00:09:13,460 --> 00:09:15,140
I also have a holding company.

338
00:09:15,140 --> 00:09:16,300
We do purpose -built rentals.

339
00:09:16,680 --> 00:09:19,540
So right now we're building a
purpose -built rental duplex in

340
00:09:19,540 --> 00:09:22,520
Lakeview Heights on Crestview
Drive with legal suites in the

341
00:09:22,520 --> 00:09:22,740
basement.

342
00:09:22,900 --> 00:09:24,440
So we'll build that and throw it

343
00:09:24,440 --> 00:09:25,600
in the portfolio and keep it.

344
00:09:25,600 --> 00:09:27,500
And then sometimes we'll find

345
00:09:27,500 --> 00:09:29,000
really good buys on nicer older
homes.

346
00:09:29,000 --> 00:09:31,560
We'll do a renovation and put
those into the portfolio as well.

347
00:09:31,560 --> 00:09:32,680
I think it's important to
diversify, right?

348
00:09:32,680 --> 00:09:33,800
Especially as it gets... slower.

349
00:09:33,800 --> 00:09:35,080
So, you know, right now the

350
00:09:35,080 --> 00:09:36,720
construction industry is a little
bit slower.

351
00:09:36,720 --> 00:09:41,280
We'll see what happens with the
interest rates here, but when it's

352
00:09:41,280 --> 00:09:43,700
slower, okay, we can just pivot
and let's keep all our stuff busy.

353
00:09:43,760 --> 00:09:44,700
Let's keep our guys busy.

354
00:09:44,700 --> 00:09:45,820
We'll build this rental duplex

355
00:09:47,240 --> 00:09:49,200
with legal suites, right?
know, right That is awesome.

356
00:09:49,200 --> 00:09:53,880
So like two huge takeaways there
is I think you get so many people,

357
00:09:53,880 --> 00:09:56,240
not just this industry, but a lot
of industries, but specifically

358
00:09:56,240 --> 00:09:57,700
you see it more in this industry,
giving advice that aren't.

359
00:09:57,700 --> 00:09:59,720
really doing it themselves, like
real estate agents, mortgage

360
00:09:59,720 --> 00:10:02,520
brokers, builders, whatever, that
don't own their own home or

361
00:10:02,640 --> 00:10:02,820
haven't built.

362
00:10:02,820 --> 00:10:04,380
So I think it's really important

363
00:10:04,380 --> 00:10:05,360
to have that.

364
00:10:05,360 --> 00:10:07,220
experience so you can give proper

365
00:10:07,220 --> 00:10:12,490
advice on it and point two like
you said being able to pivot and

366
00:10:12,490 --> 00:10:15,170
diversify again a lot of people in
the industry that will just sit

367
00:10:15,170 --> 00:10:18,430
there and be like oh yeah times
are tough like you know i'm not

368
00:10:18,430 --> 00:10:21,410
making money i gotta do layoffs
but if you have the ability to

369
00:10:21,590 --> 00:10:24,090
adapt like you're doing be
diversified like that's the only

370
00:10:11,590 --> 00:10:27,770
way to succeed on it touching back
to that like starting out in 08 it

371
00:10:27,770 --> 00:10:30,570
was extremely slow like you
couldn't even put the keys into a

372
00:10:30,570 --> 00:10:33,190
front door of a house and have
someone just take the house right

373
00:10:33,350 --> 00:10:38,550
like i think it took us 11 months
to sell back to that like starting

374
00:10:38,690 --> 00:10:42,010
out in 08 it was extremely slow
like you couldn't even put the

375
00:10:42,010 --> 00:10:45,170
keys into a front door of a house
and have someone just take the

376
00:10:45,170 --> 00:10:48,370
house right like i think it took
us 11 months to sell like the

377
00:10:48,370 --> 00:10:51,450
first spec house that I built, you
know, kind of having survived

378
00:10:51,450 --> 00:10:53,850
those times when it gets slow,
like right now, like you've got a

379
00:10:53,850 --> 00:10:54,970
full toolkit that you can use,
right?

380
00:10:54,970 --> 00:10:56,970
Like you got to cut back on your
expenses.

381
00:10:56,970 --> 00:10:57,850
You got to get creative.

382
00:10:57,850 --> 00:10:59,810
You got to do other things.

383
00:10:59,810 --> 00:11:02,510
So yeah, you seem like you have
really good composure again, like.

384
00:11:02,510 --> 00:11:03,990
You know, it's normally a daycare
drop off.

385
00:11:03,990 --> 00:11:06,330
I'm seeing you where it's like it
is chaos.

386
00:11:06,330 --> 00:11:08,130
But I imagine it's similar to a
build site.

387
00:11:08,130 --> 00:11:09,610
So, you know, you're carrying
yourself very well.

388
00:11:09,610 --> 00:11:12,670
You know, talking about stressful
times, you know, we could touch on

389
00:11:12,670 --> 00:11:03,090
this a little bit like tariffs.

390
00:11:03,090 --> 00:11:04,590
What do tariffs do for your

391
00:11:04,590 --> 00:11:06,690
business right now?
Obviously, like there's a lot of

392
00:11:06,690 --> 00:11:07,990
uncertainty, a lot of unknown.

393
00:11:07,990 --> 00:11:09,610
So we're not here to kind of give

394
00:11:09,610 --> 00:11:13,070
advice like this podcast is going
to come out in a month from now.

395
00:11:13,200 --> 00:11:14,360
So probably a lot is going to
change.

396
00:11:14,360 --> 00:11:18,220
But what do you have going on
right now that it's affecting?

397
00:11:18,220 --> 00:11:21,120
Yeah, I think the first thing you
guys said is we just don't know.

398
00:11:21,120 --> 00:11:22,880
That's like the most important
thing to go over with Trump.

399
00:11:22,880 --> 00:11:24,600
Obviously, he could decide that
all these tariffs are off tomorrow

400
00:11:24,600 --> 00:11:27,160
and maybe the stock market
rebounds, you know, the 8 % that

401
00:11:27,160 --> 00:11:28,300
it's gone down.

402
00:11:28,460 --> 00:11:29,280
We don't know.

403
00:11:29,380 --> 00:11:31,940
But right now, there's a lot of
pivoting in the supply chain.

404
00:11:31,940 --> 00:11:35,240
So we're being forced to use
different materials just because

405
00:11:35,240 --> 00:11:36,680
the price increases have gone up
so quickly.

406
00:11:36,740 --> 00:11:40,220
So any of you guys... that know
like james hardy plank siding

407
00:11:40,520 --> 00:11:41,600
which is a concrete based siding
that's your lap siding you're

408
00:11:41,600 --> 00:11:45,260
bored of bad and you see it
literally on 80 of the homes and

409
00:11:45,260 --> 00:11:47,360
actually on our big white projects
too they just raised last week

410
00:11:47,360 --> 00:11:49,720
prices across the board by about
25 and on an average home like on

411
00:11:49,720 --> 00:11:52,520
a 3 000 square foot walkout
rancher that equates like 10 grand

412
00:11:52,520 --> 00:11:55,020
probably 10 or 11 grand There's
also a Canadian company that

413
00:11:55,020 --> 00:11:55,700
manufactures called LP SmartSides.

414
00:11:55,700 --> 00:11:57,460
It's a similar product.

415
00:11:57,460 --> 00:11:57,920
It's not concrete based.

416
00:11:57,920 --> 00:11:58,760
Some people don't think it's quite

417
00:11:58,760 --> 00:12:01,540
as good, but it's still a good
product.

418
00:12:01,540 --> 00:12:04,240
So like everyone's pivoting over
to them because they were

419
00:12:04,240 --> 00:12:05,260
similarly priced to James Hardy.

420
00:12:05,260 --> 00:12:07,160
But of course, then I just heard

421
00:12:07,160 --> 00:12:10,240
the grapevine that those prices, I
don't know whether they can't keep

422
00:12:10,400 --> 00:12:12,320
up with demand or that they've
just decided that now they're

423
00:12:12,320 --> 00:12:15,100
underpriced, but apparently
they're going to do a huge price

424
00:12:15,100 --> 00:12:16,440
increase as well.

425
00:12:16,440 --> 00:12:19,160
You're just playing this game of

426
00:12:19,160 --> 00:12:22,060
cat and mouse, you know, pivoting,
but I don't know how much that's

427
00:12:22,060 --> 00:12:23,840
going to work or how long to do
that.

428
00:12:23,840 --> 00:12:24,220
Right.

429
00:12:24,220 --> 00:12:25,800
how long to do that.

430
00:12:25,800 --> 00:12:26,100
Right.

431
00:12:26,100 --> 00:12:27,160
Like Matt and I spoke about that

432
00:12:27,160 --> 00:12:29,640
before trying to be optimistic
about tariffs.

433
00:12:29,640 --> 00:12:33,100
I mean, like this is such a great
opportunity for Canadian based

434
00:12:33,100 --> 00:12:36,140
companies to go out and sell to
other countries or buy internally

435
00:12:36,140 --> 00:12:37,820
or even just other Canadians.

436
00:12:37,820 --> 00:12:38,540
even just other Canadians.

437
00:12:38,540 --> 00:12:44,120
Yeah, but this is a prime example
of what happens, I guess, is they

438
00:12:44,120 --> 00:12:47,140
don't have the supply to do that.

439
00:12:47,140 --> 00:12:50,040
They need to increase costs on it,

440
00:12:50,040 --> 00:12:53,480
or they just take advantage, not
saying LP is, but people are just

441
00:12:53,480 --> 00:12:56,400
going to end up inherently doing
that if everything else goes up

442
00:12:56,400 --> 00:12:56,720
with inflation.

443
00:12:56,720 --> 00:12:58,460
Just putting the prices to market

444
00:12:58,460 --> 00:12:58,600
rate.

445
00:12:58,600 --> 00:12:59,080
Exactly, right?

446
00:12:59,260 --> 00:13:03,240
Yeah, they can charge 20 % more
and probably still get 90 % of the

447
00:13:03,240 --> 00:13:06,040
business, Exactly, right?
Yeah, they can charge 20 % more

448
00:13:06,040 --> 00:13:09,340
and probably still get 90 % of the
business, right?

449
00:13:09,340 --> 00:13:09,800
Yeah.

450
00:13:09,800 --> 00:13:10,380
I don't know what direction

451
00:13:10,380 --> 00:13:13,240
they're going, but I think that's
like Trump's.

452
00:13:13,240 --> 00:13:14,960
purpose of tariffs is to bring the
manufacturing back.

453
00:13:14,960 --> 00:13:15,860
I get that.

454
00:13:15,860 --> 00:13:16,600
Actually, probably in the long

455
00:13:16,600 --> 00:13:19,540
run, once everything settles down,
it could be a really good thing

456
00:13:18,160 --> 00:13:18,720
for their country.

457
00:13:18,720 --> 00:13:20,740
Anyway, we would be forced to do

458
00:13:20,740 --> 00:13:24,580
it as well, but there's going to
be a lot of growing pains in the

459
00:13:24,580 --> 00:13:26,760
meantime, right?
Like we're not set up to just

460
00:13:26,760 --> 00:13:28,160
start manufacturing all these
things tomorrow.

461
00:13:28,160 --> 00:13:30,960
There's tariffs on, right?
Well, yeah, it's like supply and

462
00:13:30,960 --> 00:13:32,750
demand in real estate, right?
There's not enough housing.

463
00:13:32,990 --> 00:13:34,670
We've had this housing shortage.

464
00:13:34,670 --> 00:13:36,390
This is a prime example of like,

465
00:13:36,390 --> 00:13:40,650
Your cost directly has to go up
and that has to be passed on to

466
00:13:40,650 --> 00:13:41,290
the end user now.

467
00:13:41,290 --> 00:13:41,510
Yeah.

468
00:13:41,510 --> 00:13:43,470
I know there's cost plus fixed.

469
00:13:43,470 --> 00:13:45,310
If you're in any current contracts

470
00:13:45,310 --> 00:13:48,230
right now, what do you do?
What does the end user homeowner,

471
00:13:48,510 --> 00:13:52,370
what can they expect out of this?
The honest answer is that right

472
00:13:52,370 --> 00:13:55,530
now, honest answer is that right
now, we don't know.

473
00:13:55,530 --> 00:13:51,090
We're just going to patiently
wait.

474
00:13:51,370 --> 00:13:55,130
We'll probably wait for a couple
of weeks to see, okay, is Trump

475
00:13:55,130 --> 00:13:58,090
going to repeal these?
Are these here to stay?

476
00:13:58,090 --> 00:14:00,990
And then, like I said, it's a
matter of just checking with the

477
00:14:01,680 --> 00:14:02,400
supply chain.

478
00:14:02,400 --> 00:14:03,200
It's actually surprising.

479
00:14:03,200 --> 00:14:08,600
It seems like in construction, a
lot of the stuff that we buy, it

480
00:14:08,900 --> 00:14:10,660
seems to me we're going to be
okay.

481
00:14:10,660 --> 00:14:12,380
So far, I think Windows have gone
up 7%.

482
00:14:12,600 --> 00:14:13,580
We talked about the James Hardy.

483
00:14:13,580 --> 00:14:15,740
A lot of appliances come from the

484
00:14:15,740 --> 00:14:15,880
States.

485
00:14:15,880 --> 00:14:16,920
You've got your Whirlpools, your

486
00:14:16,920 --> 00:14:18,180
Frigidares, your KitchenAid.

487
00:14:18,380 --> 00:14:19,360
I think that's from the States.

488
00:14:19,360 --> 00:14:21,580
So we can probably pivot to
European and Chinese brands.

489
00:14:21,580 --> 00:14:23,400
You can probably pivot to your
LGs.

490
00:14:23,400 --> 00:14:24,480
Every house will have a Bertazzoni
range.

491
00:14:24,480 --> 00:14:25,960
house will have a Bertazzoni
range.

492
00:14:25,960 --> 00:14:27,420
Well, yeah.

493
00:14:27,420 --> 00:14:29,620
Yeah, the honest sense is I don't

494
00:14:29,620 --> 00:14:30,460
100 % know.

495
00:14:30,460 --> 00:14:32,770
I think just each day we're

496
00:14:32,770 --> 00:14:33,590
probably going to know more.

497
00:14:33,590 --> 00:14:33,690
Yeah.

498
00:14:33,690 --> 00:14:35,510
But it's definitely going to
create more economic uncertainty.

499
00:14:35,930 --> 00:14:39,570
And it's going to make more people
probably wait on the sidelines

500
00:14:39,570 --> 00:14:41,510
even longer, right?
So you're in such an interesting

501
00:14:41,650 --> 00:14:43,670
position here because you're
building new homes, spec homes,

502
00:14:43,670 --> 00:14:44,530
custom homes, rental properties.

503
00:14:44,530 --> 00:14:45,790
infill where's the smart money

504
00:14:45,790 --> 00:14:46,650
going right now or where's the
smartest money if there is any

505
00:14:46,650 --> 00:14:48,610
smart money do rental projects
pencil spec homes pencil like how

506
00:14:48,610 --> 00:14:52,210
does this infill projects work out
like what are your thoughts on

507
00:14:52,210 --> 00:14:54,910
that where should we spend our
money i don't want to make this

508
00:14:54,910 --> 00:14:57,630
too doom and gloom but yeah like
spec houses don't want to make

509
00:14:57,630 --> 00:15:01,960
this too doom and gloom but yeah
like spec houses Don't really

510
00:15:01,960 --> 00:15:02,580
pencil the multifamily.

511
00:15:02,580 --> 00:15:04,200
Like we just got approved.

512
00:15:04,200 --> 00:15:04,900
This is a funny story.

513
00:15:05,680 --> 00:15:08,260
So we've got a nineplex that we

514
00:15:08,260 --> 00:15:09,340
designed in Lower Mission.

515
00:15:09,340 --> 00:15:11,040
We're super pumped about it.

516
00:15:11,040 --> 00:15:13,640
It takes a long time in the design
phase.

517
00:15:13,640 --> 00:15:15,920
So we don't need to start it
immediately.

518
00:15:15,980 --> 00:15:17,780
But we're talking to the city of
Kelowna doing our development

519
00:15:17,780 --> 00:15:18,160
permit.

520
00:15:18,160 --> 00:15:20,280
And there was 12 applications for

521
00:15:20,280 --> 00:15:20,520
new builds.

522
00:15:20,520 --> 00:15:22,300
And we were the only one of the 12

523
00:15:22,300 --> 00:15:24,780
that we're actually going to build
and try to sell the thing.

524
00:15:24,860 --> 00:15:26,360
The other 11 applications were all
purpose -built rentals.

525
00:15:26,360 --> 00:15:26,640
Wow.

526
00:15:26,840 --> 00:15:27,920
Yes, the smart money, as you

527
00:15:27,920 --> 00:15:31,240
mentioned earlier, a lot of the
stuff you see in town, especially

528
00:15:31,240 --> 00:15:34,020
multifamily, you see the big wood
frame structures like everywhere.

529
00:15:34,020 --> 00:15:34,200
Yes.

530
00:15:34,200 --> 00:15:36,020
And you know, if you're like me,

531
00:15:36,020 --> 00:15:37,960
you're like, who's moving into
these things?

532
00:15:37,960 --> 00:15:39,320
They're all the same square
footage.

533
00:15:39,320 --> 00:15:40,460
They're all the same design.

534
00:15:40,460 --> 00:15:43,730
They all just look like square

535
00:15:43,730 --> 00:15:44,130
boxes.

536
00:15:44,130 --> 00:15:45,310
Like side note, note, but what are

537
00:15:45,310 --> 00:15:47,870
all these things going to look
like in 10 to 20 years?

538
00:15:47,870 --> 00:15:51,590
This is what I just cannot get
over.

539
00:15:51,590 --> 00:15:51,890
Great question.

540
00:15:51,890 --> 00:15:53,470
That's all I'm going to say.

541
00:15:53,470 --> 00:15:53,830
going to say.

542
00:15:53,830 --> 00:15:55,210
They look pretty right now, but

543
00:15:55,210 --> 00:15:57,110
like drive down Pandozzi off the
highway and there's like 20 old

544
00:15:57,110 --> 00:15:58,090
apartment buildings that just
looks like.

545
00:15:58,090 --> 00:15:56,390
They're never going to go
anywhere.

546
00:15:56,390 --> 00:15:58,450
And that's kind of like the main
corridor into the mission.

547
00:15:58,450 --> 00:16:02,500
It's just going to look like that
for eternity.

548
00:16:02,500 --> 00:16:04,760
Maybe a little short -sighted, but
you know, when you look at

549
00:16:04,760 --> 00:16:07,080
something more than like a 10, 20,
30, 40, 60 plexes.

550
00:16:07,080 --> 00:16:09,180
So CMHC, which is a government
program, they will lend the

551
00:16:09,180 --> 00:16:10,020
developer the money.

552
00:16:10,020 --> 00:16:11,700
They'll lend you up to 95 % loan

553
00:16:11,700 --> 00:16:12,980
to value.

554
00:16:12,980 --> 00:16:14,140
And plus they'll amortize a

555
00:16:14,140 --> 00:16:16,360
project for 40 to 50 years.

556
00:16:16,360 --> 00:16:17,940
So like those projects pencil

557
00:16:17,940 --> 00:16:21,000
because you can get your renters
in there.

558
00:16:21,000 --> 00:16:23,580
Actually, you can even charge a
builder's fee within your cost,

559
00:16:23,580 --> 00:16:25,340
right?
So that's why you're just seeing a

560
00:16:25,340 --> 00:16:29,820
ton of those projects going up in
town, So ton of those projects

561
00:16:29,940 --> 00:16:31,540
going up in town, right?
Follow the money, follow the

562
00:16:31,540 --> 00:16:33,360
incentive, and then you can see
the result, right?

563
00:16:33,360 --> 00:16:33,520
Yeah.

564
00:16:33,520 --> 00:16:34,760
up in town, right?

565
00:16:34,760 --> 00:16:37,960
But yeah, in terms of spec house
is not great right now, unless

566
00:16:38,040 --> 00:16:40,160
you're like 1 .1 and under, right?
Is the GST break in now?

567
00:16:40,160 --> 00:16:42,180
Is there zero GST?
I think to a million right there.

568
00:16:42,180 --> 00:16:43,380
a million right there.

569
00:16:43,220 --> 00:16:43,380
Yeah.

570
00:16:43,440 --> 00:16:44,820
And then the property purchase tax
too.

571
00:16:44,820 --> 00:16:45,880
I think there's a break on that as
well.

572
00:16:45,880 --> 00:16:46,320
So yeah.

573
00:16:46,320 --> 00:16:46,420
Yeah.

574
00:16:46,420 --> 00:16:48,740
Kind of back to the question of
how to make money.

575
00:16:48,740 --> 00:16:49,460
Like nothing's going to make
money, but in your infill company,

576
00:16:49,460 --> 00:16:52,240
like, can we talk a little bit
about... how to subdivide.

577
00:16:52,240 --> 00:16:55,600
Like if someone has a single
family home and they're like, you

578
00:16:55,930 --> 00:16:57,930
know, I have equity here, I'm
sitting on a half acre.

579
00:16:57,930 --> 00:17:02,270
I would love to do something with
this and make a bit of cash and to

580
00:17:02,270 --> 00:17:05,170
densify and, you know, add units
like the city wants to do high

581
00:17:05,170 --> 00:17:06,450
level timeframe costs.

582
00:17:06,450 --> 00:17:08,390
Like if it's on a flat piece of

583
00:17:08,390 --> 00:17:12,700
land, do you guys do much of that?
Like, how does that look?

584
00:17:12,700 --> 00:17:13,900
Yeah, so I'll qualify.

585
00:17:13,900 --> 00:17:16,000
I have a right -hand man in the

586
00:17:16,000 --> 00:17:17,819
Okanagan infel that he loves
zoning.

587
00:17:17,819 --> 00:17:19,040
He loves dealing with the city.

588
00:17:19,040 --> 00:17:20,420
He loves subdivisions and

589
00:17:20,420 --> 00:17:20,780
stratification.

590
00:17:20,780 --> 00:17:22,740
So he's my guy for that.

591
00:17:22,740 --> 00:17:23,880
But I have a really good example.

592
00:17:23,880 --> 00:17:26,359
We had a client with a house on

593
00:17:26,640 --> 00:17:27,520
Bonju in Lower Mission.

594
00:17:27,520 --> 00:17:29,180
Beautiful lot, beautiful street,

595
00:17:29,180 --> 00:17:29,420
older area.

596
00:17:29,420 --> 00:17:29,180
His house was like shoved off to

597
00:17:29,180 --> 00:17:30,480
the side of a really big lot.

598
00:17:30,600 --> 00:17:32,460
And so we ended up just lopping

599
00:17:32,480 --> 00:17:35,390
off a 40 -foot wide by 100 -foot
deep lot right off his side yard.

600
00:17:35,390 --> 00:17:35,690
Oh, nice.

601
00:17:35,690 --> 00:17:36,470
Pretty quick, simple, easy

602
00:17:36,470 --> 00:17:37,410
subdivision process.

603
00:17:37,410 --> 00:17:38,810
So realistically, you can do it

604
00:17:38,810 --> 00:17:42,010
with a builder or in his case, he
had already had the process

605
00:17:42,010 --> 00:17:44,310
started when we were talking to
him.

606
00:17:44,310 --> 00:17:46,890
But you get a civil engineer and a
surveyor is kind of how it starts.

607
00:17:46,890 --> 00:17:48,430
And, you know, you've got to bring
in new services and utilities.

608
00:17:48,590 --> 00:17:50,810
You get your property lines, make
sure that you meet all the city

609
00:17:50,810 --> 00:17:50,990
requirements.

610
00:17:50,990 --> 00:17:53,630
The civil engineer will do that.

611
00:17:53,630 --> 00:17:57,250
Make sure you can build a house on
a new piece of property.

612
00:17:57,250 --> 00:17:59,760
And then you just start an
application with the city.

613
00:17:59,760 --> 00:18:01,280
So very generally, it takes about
six to nine months.

614
00:18:01,360 --> 00:18:01,600
to subdivide.

615
00:18:01,600 --> 00:18:03,900
And I would say 140 to 170 ,000

616
00:18:04,160 --> 00:18:06,720
type thing is the costs kind of
all in with your engineering, your

617
00:18:06,720 --> 00:18:08,440
utility upgrades, the city DCCs,
et cetera.

618
00:18:08,580 --> 00:18:12,500
It was super cool because he had
an older, it was a really cute

619
00:18:12,500 --> 00:18:13,320
home.

620
00:18:13,440 --> 00:18:14,560
It was well kept, but he lived in

621
00:18:14,560 --> 00:18:15,480
the home.

622
00:18:15,480 --> 00:18:16,640
We built a brand new house beside

623
00:18:16,720 --> 00:18:16,740
him.

624
00:18:16,740 --> 00:18:18,410
They built it all custom.

625
00:18:18,410 --> 00:18:21,430
And then he moved into the custom
home and then sold the old home.

626
00:18:21,430 --> 00:18:23,270
And I think he did really well.

627
00:18:23,270 --> 00:18:25,290
Funnily enough, the value of his

628
00:18:25,290 --> 00:18:28,030
old home, I don't think went down
at all because he had this

629
00:18:28,030 --> 00:18:30,070
awkward, huge side yard with like
this big tree on it.

630
00:18:30,070 --> 00:18:32,110
It wasn't serving any purpose.

631
00:18:32,110 --> 00:18:34,230
So when he lopped it off, we

632
00:18:34,230 --> 00:18:35,550
fenced his other yard, like his
rear yard.

633
00:18:35,550 --> 00:18:38,250
And I actually think the property
is like more valuable without all

634
00:18:38,250 --> 00:18:39,430
the added land.

635
00:18:39,430 --> 00:18:41,190
Yeah, that is a good point.

636
00:18:41,190 --> 00:18:43,030
Like you generally don't see
values decrease.

637
00:18:43,030 --> 00:18:45,150
that much when you're subdividing
that.

638
00:18:45,290 --> 00:18:49,190
To your knowledge, do you know any
programs other than just tapping

639
00:18:49,190 --> 00:18:51,010
into your own equity?
Like how does somebody come up

640
00:18:51,010 --> 00:18:52,790
with 140 to 170 grand to
subdivide?

641
00:18:52,790 --> 00:18:55,530
Like knowing there's profit on the
other side of that, but that's a

642
00:18:55,530 --> 00:18:56,330
pretty big barrier to entry.

643
00:18:56,330 --> 00:18:57,710
Are there any companies that kind

644
00:18:57,710 --> 00:19:01,050
of help out with that or programs?
Well, shouldn't that be a question

645
00:19:01,050 --> 00:19:01,510
for you?
Yeah.

646
00:19:01,510 --> 00:19:01,650
Yeah.

647
00:19:01,650 --> 00:19:02,030
No, fair enough.

648
00:19:02,030 --> 00:19:02,270
fair enough.

649
00:19:02,270 --> 00:19:04,390
Matt, I teed myself up well there.

650
00:19:04,390 --> 00:19:04,890
Yeah, exactly.

651
00:19:04,890 --> 00:19:05,010
Yeah.

652
00:19:05,010 --> 00:19:06,590
So if you call me directly, I'll
be JV in these.

653
00:19:06,590 --> 00:19:11,110
Well, it was kind of a plug to say
like I personally feel like that's

654
00:19:11,110 --> 00:19:13,390
a missed opportunity for
government funding.

655
00:19:13,390 --> 00:19:19,230
Like if we're coming out with all
these other, you know, multifamily

656
00:19:19,230 --> 00:19:22,570
stuff, like why are we not
investing more on single family?

657
00:19:22,570 --> 00:19:25,410
Like I see that area of the
market.

658
00:19:25,410 --> 00:19:28,970
You know, you said around that
million dollar 1 .1 in the

659
00:19:28,970 --> 00:19:29,070
Okanagan.

660
00:19:29,070 --> 00:19:30,050
If no one's penciling these to

661
00:19:30,050 --> 00:19:32,770
build a single family home, what's
going to happen in five years when

662
00:19:32,770 --> 00:19:34,210
everyone wants a single family
home?

663
00:19:34,210 --> 00:19:35,770
They're just going to become more.

664
00:19:35,770 --> 00:19:37,240
They're you know, expensive to

665
00:19:37,240 --> 00:19:37,700
turn it around.

666
00:19:37,700 --> 00:19:39,000
Like, would there be any programs

667
00:19:39,000 --> 00:19:41,000
that you would suggest or like,
you know, if we're speaking

668
00:19:41,140 --> 00:19:42,760
directly to the government, like,
Hey, can we fund some of these

669
00:19:42,760 --> 00:19:45,220
with similar style of financing
programs that we're doing with

670
00:19:45,220 --> 00:19:45,420
multifamily?
Yeah.

671
00:19:45,420 --> 00:19:49,120
I don't know if I can speak much
to that, but you know, a lot of

672
00:19:49,120 --> 00:19:51,660
these homeowners, they've been in
the house 30, 40, 50 years.

673
00:19:51,660 --> 00:19:54,020
They have an insane amount of
equity in the property in the

674
00:19:54,020 --> 00:19:54,400
house.

675
00:19:54,400 --> 00:19:56,720
So typically I'm guessing in this

676
00:19:56,900 --> 00:19:57,060
homeowners.

677
00:19:57,060 --> 00:19:58,040
instance, that was what happened.

678
00:19:58,040 --> 00:20:01,760
Just had an insane amount of
equity, easy to go to your bank

679
00:20:01,880 --> 00:20:04,620
and say, listen, this is what I
want to do.

680
00:20:04,620 --> 00:20:06,200
You get a construction mortgage,
you know, you probably finance

681
00:20:06,200 --> 00:20:10,200
maybe a line of credit for the
subdivision process, and then you

682
00:20:10,300 --> 00:20:11,940
can get a construction loan for
the rest.

683
00:20:11,940 --> 00:20:14,240
But yeah, in terms of other
avenues, I don't think the

684
00:20:14,240 --> 00:20:15,720
government circle into that yet.

685
00:20:15,720 --> 00:20:15,900
Yeah.

686
00:20:15,900 --> 00:20:16,040
Yeah.

687
00:20:16,040 --> 00:20:18,720
And I mean, we talked to the city

688
00:20:18,800 --> 00:20:22,480
previously and we're going to have
Brian Smith back on shortly, but

689
00:20:22,480 --> 00:20:24,360
like they've commented, like DCCs
are just like non -negotiable, but

690
00:20:24,660 --> 00:20:28,120
that was kind of the pitch was
like, well, why don't you do DCCs

691
00:20:28,120 --> 00:20:31,170
at the end?
You know, like why are we forcing

692
00:20:31,170 --> 00:20:34,870
homeowners and developers to pay
for these costs up front when they

693
00:20:34,870 --> 00:20:39,190
just don't have the money for it?
But if you allow that to be paid

694
00:20:39,190 --> 00:20:42,770
out at the end of the project, you
know, there's built in equity.

695
00:20:42,770 --> 00:20:44,510
right?
Like, you know, it's a secured

696
00:20:44,510 --> 00:20:44,850
asset.

697
00:20:45,130 --> 00:20:45,190
Yeah.

698
00:20:45,190 --> 00:20:47,250
So for big white, like just
selfishly, I'm curious, how's

699
00:20:47,250 --> 00:20:50,270
building going up there?
Like, is it still active in terms

700
00:20:50,270 --> 00:20:51,910
of like people want properties at
big white?

701
00:20:51,910 --> 00:20:54,970
Is it growing?
Why'd you guys move to big white,

702
00:20:54,970 --> 00:20:58,120
I guess, or expand to big white?
it's a Our best friends were

703
00:20:58,120 --> 00:21:01,680
thinking about buying up there and
then we were thinking about

704
00:21:01,680 --> 00:21:02,020
buying.

705
00:21:02,020 --> 00:21:03,860
So that's kind of how it started.

706
00:21:03,960 --> 00:21:06,440
And we were just looking at
potentially buying an older unit.

707
00:21:06,440 --> 00:21:09,880
And, you know, maybe I would do a
quick renovation and we would

708
00:21:09,880 --> 00:21:10,140
split it.

709
00:21:10,140 --> 00:21:11,460
The idea being that, like, I think

710
00:21:11,460 --> 00:21:14,100
it's great to be at Big White
twice a month, but I don't want to

711
00:21:14,260 --> 00:21:15,200
be up there every single weekend.

712
00:21:15,380 --> 00:21:16,560
And neither do they.

713
00:21:16,560 --> 00:21:18,620
So it's like, hey, we can split
all the costs.

714
00:21:18,620 --> 00:21:21,580
We trust each other to take care
of this unit equally.

715
00:21:22,110 --> 00:21:24,110
So we started looking, couldn't
quite find anything that we

716
00:21:24,110 --> 00:21:24,290
wanted.

717
00:21:24,290 --> 00:21:25,450
Then we kind of started to

718
00:21:25,450 --> 00:21:26,010
consider to build.

719
00:21:26,010 --> 00:21:27,810
And then this chunk of land came

720
00:21:27,810 --> 00:21:27,890
up.

721
00:21:27,890 --> 00:21:30,150
So that's kind of how we got.

722
00:21:30,150 --> 00:21:30,170
invested.

723
00:21:30,250 --> 00:21:31,930
And we kind of just hopped on it

724
00:21:31,930 --> 00:21:32,410
right away.

725
00:21:32,410 --> 00:21:34,010
So Sundance is like one of the

726
00:21:34,010 --> 00:21:37,390
best locations, ski in, ski out,
up at Big White, walking distance

727
00:21:37,390 --> 00:21:38,410
to the village.

728
00:21:38,410 --> 00:21:39,090
It's all pretty flat.

729
00:21:39,090 --> 00:21:41,850
So it was a pretty amazing
opportunity.

730
00:21:42,030 --> 00:21:44,110
And then he's a business partner
in that development company.

731
00:21:44,110 --> 00:21:47,050
Of the nine units we built, we
ended up keeping one and spent a

732
00:21:47,050 --> 00:21:50,590
ton of time up there this last
year, which was amazing.

733
00:21:50,590 --> 00:21:51,650
So for personally, it was a great
investment.

734
00:21:51,790 --> 00:21:54,790
It was really fun for the family,
taught the girls how to ski.

735
00:21:54,790 --> 00:21:55,730
It was a hoot.

736
00:21:55,730 --> 00:21:58,830
But in terms of building, that's

737
00:21:58,830 --> 00:22:01,790
regional district of Cootie
Boundary, which is super odd.

738
00:22:01,790 --> 00:22:01,970
Right.

739
00:22:01,970 --> 00:22:02,850
You're dealing with this office

740
00:22:02,850 --> 00:22:05,250
in, I think it's in Grand Forks,
like three and a half hours away,

741
00:22:05,250 --> 00:22:07,170
as opposed to, you know, city of
Kelowna.

742
00:22:07,770 --> 00:22:08,750
I'm not sure.

743
00:22:08,750 --> 00:22:11,490
I think city of Kelowna wants it

744
00:22:11,490 --> 00:22:15,790
to be in their jurisdiction, but
that's another conversation, but

745
00:22:15,790 --> 00:22:17,010
big white themselves are extremely
pro development.

746
00:22:17,010 --> 00:22:21,230
So they, you know, when I bought
the land, they literally reached

747
00:22:21,230 --> 00:22:21,710
out to me.

748
00:22:21,710 --> 00:22:23,630
I've never had this happen before.

749
00:22:23,630 --> 00:22:25,450
Hey, what can we do to make it
easy?

750
00:22:25,450 --> 00:22:28,670
and enjoyable for you to build up
here so if you need a place to

751
00:22:28,670 --> 00:22:30,610
park your equipment if you need
some extra dirt like whatever you

752
00:22:30,610 --> 00:22:33,920
need just let us know wow and you
know admittedly they said listen

753
00:22:33,920 --> 00:22:36,680
like we just we want more building
up there that puts more people in

754
00:22:36,680 --> 00:22:39,960
our chairlifts at the end of the
day right so it kind of makes

755
00:22:39,960 --> 00:22:41,860
sense so they'll do whatever they
can but on the flip side of that

756
00:22:41,860 --> 00:22:43,780
is it's extremely hard to build up
there because no matter what

757
00:22:43,780 --> 00:22:45,620
you're like a minimum two -year
build right you have a short

758
00:22:45,620 --> 00:22:48,300
season for construction yeah so up
there right now there's You know,

759
00:22:48,300 --> 00:22:51,300
I don't know how many there's
seven or eight feet of snow.

760
00:22:51,300 --> 00:22:54,300
So kind of by the time it melts or
it's manageable, you've got to

761
00:22:54,300 --> 00:22:55,440
like dig your footings, get your
foundation, get everything

762
00:22:55,960 --> 00:22:57,980
prepped, get it framed, kind of
get it to lock up.

763
00:22:57,980 --> 00:22:59,380
And then it's snowing like crazy
again.

764
00:22:59,380 --> 00:22:59,440
Right.

765
00:22:59,440 --> 00:23:01,320
And then the next year you'd come

766
00:23:01,480 --> 00:23:04,220
back and then you'd finish it off.

767
00:23:04,220 --> 00:23:05,500
Some of the bigger projects are

768
00:23:06,120 --> 00:23:06,740
three, four or five years.

769
00:23:06,740 --> 00:23:07,040
Right.

770
00:23:07,040 --> 00:23:07,660
To build.

771
00:23:07,660 --> 00:23:08,780
So it's a very expensive place to

772
00:23:08,780 --> 00:23:11,360
build for multiple reasons,
because a lot of the trades don't

773
00:23:11,360 --> 00:23:13,040
want to go up there.

774
00:23:13,040 --> 00:23:14,280
So they charge you a lot of travel

775
00:23:14,280 --> 00:23:17,600
or they'll just charge you, you
know, just 10 or 20 % more to go

776
00:23:17,600 --> 00:23:19,440
up to big white, obviously
expensive to get materials up

777
00:23:19,440 --> 00:23:20,100
there as well.

778
00:23:20,100 --> 00:23:21,020
a And then just like the climate

779
00:23:21,020 --> 00:23:22,440
up there is insane.

780
00:23:22,440 --> 00:23:24,640
So the unit that we built, we were

781
00:23:24,780 --> 00:23:26,960
putting the roof system on and I'm
not a carpenter by trade.

782
00:23:26,960 --> 00:23:29,200
I come from an accounting
background, but we're putting the

783
00:23:29,200 --> 00:23:32,040
roof system on and like, I've
never seen so many trusses spaced

784
00:23:32,040 --> 00:23:32,640
like so close together.

785
00:23:32,640 --> 00:23:33,400
And I'm like, okay, what's going

786
00:23:33,400 --> 00:23:35,880
on here?
And the framers were like, holy

787
00:23:35,880 --> 00:23:37,660
cow, this is a lot.

788
00:23:37,660 --> 00:23:39,280
And just like the amount of

789
00:23:39,280 --> 00:23:40,060
engineering that went into the
system.

790
00:23:40,060 --> 00:23:41,580
So I phoned the engineer and said,
what's going on?

791
00:23:41,580 --> 00:23:47,020
And he's like, man, we had to rate
the roof of your unit for 1

792
00:23:47,020 --> 00:23:47,580
million pounds of snow.

793
00:23:47,580 --> 00:23:48,700
1 million pounds.

794
00:23:48,700 --> 00:23:48,780
Yeah.

795
00:23:48,780 --> 00:23:49,380
So I'm like, well.

796
00:23:49,380 --> 00:23:52,000
why and he said well we have to
assume that it could potentially

797
00:23:52,000 --> 00:23:55,800
have like nine feet of snow on the
entire roof but also where it's

798
00:23:55,800 --> 00:23:58,860
been like you know rained on and
pushed down and compacted so like

799
00:23:58,860 --> 00:24:01,860
just the amount of like weight and
snow load it's insane so like

800
00:24:01,860 --> 00:24:03,660
everything you do up there it's
just like insanely expensive so

801
00:24:03,660 --> 00:24:06,680
that's funny so on the same kind
of note i sold a unit up there a

802
00:24:06,680 --> 00:24:10,480
couple months ago and then specter
went to go in the attic the attic

803
00:24:10,480 --> 00:24:13,740
opening was like and just the
that's funny so on the same kind

804
00:24:13,740 --> 00:24:16,980
of note i sold a unit up there a
couple months ago and then specter

805
00:24:16,980 --> 00:24:19,720
went to go in the attic the attic
opening was like Nine inches

806
00:24:19,720 --> 00:24:21,920
because all the trusses were so
close together.

807
00:24:21,920 --> 00:24:22,480
Get up there.

808
00:24:22,480 --> 00:24:24,660
Then he looked up there and he

809
00:24:24,900 --> 00:24:25,300
said the same thing.

810
00:24:25,300 --> 00:24:26,620
He's like, man, there is like so

811
00:24:26,620 --> 00:24:28,700
many trusses up here, spaced
really close together.

812
00:24:28,700 --> 00:24:29,860
So if that makes sense.

813
00:24:29,860 --> 00:24:30,060
together.

814
00:24:30,060 --> 00:24:30,660
Man, missed opportunity.

815
00:24:30,660 --> 00:24:32,740
I remember when I was a kid

816
00:24:32,740 --> 00:24:33,640
shoveling driveways for like two
bucks.

817
00:24:33,640 --> 00:24:35,900
Just go up to Big White.

818
00:24:35,900 --> 00:24:38,460
Like I imagine you guys are just

819
00:24:38,460 --> 00:24:41,400
shoveling snow for six months of
the year just to like get to your

820
00:24:41,400 --> 00:24:41,600
material.

821
00:24:42,000 --> 00:24:42,440
Two bucks.

822
00:24:42,440 --> 00:24:44,960
You're going to shovel nine feet
of snow off of a million pounds.

823
00:24:44,960 --> 00:24:46,820
Well, obviously you're going to
charge more now, you're going to

824
00:24:46,820 --> 00:24:47,760
charge more now, man.

825
00:24:47,760 --> 00:24:48,260
Like 450.

826
00:24:48,260 --> 00:24:48,380
Yeah.

827
00:24:48,380 --> 00:24:48,820
Yeah.

828
00:24:48,820 --> 00:24:49,000
Yeah.

829
00:24:49,000 --> 00:24:51,260
Like you got to budget a lot for

830
00:24:51,260 --> 00:24:53,860
the snow removal because the
fourplex, like we kind of

831
00:24:53,860 --> 00:24:55,840
abandoned it for a bit because
there's so much snow.

832
00:24:55,840 --> 00:24:56,600
We got it.

833
00:24:56,600 --> 00:24:57,460
We have to start mathematically.

834
00:24:57,540 --> 00:24:59,640
We want to try to get it done for
this snow season.

835
00:24:59,640 --> 00:24:59,860
Right.

836
00:24:59,860 --> 00:25:01,120
So it's that like framing lockup

837
00:25:01,120 --> 00:25:01,360
stage.

838
00:25:01,360 --> 00:25:04,180
So we went to hop back on it and I

839
00:25:04,260 --> 00:25:06,640
think I had two machines up there
for two weeks.

840
00:25:06,640 --> 00:25:07,240
The clearing snow.

841
00:25:07,340 --> 00:25:07,600
Oh, man.

842
00:25:07,600 --> 00:25:09,080
You're just like taking money and
just like flushing it.

843
00:25:09,080 --> 00:25:11,280
It's funny because it's not like
you just take the snow and put it

844
00:25:11,280 --> 00:25:12,660
to the side of the driveway.

845
00:25:12,780 --> 00:25:14,600
funny because it's not like you

846
00:25:14,600 --> 00:25:20,260
just take the snow and put it to
the side of the driveway.

847
00:25:21,060 --> 00:25:23,320
You got to take it somewhere,
right?

848
00:25:23,320 --> 00:25:24,320
Yeah, You got to take it
somewhere, right?

849
00:25:24,320 --> 00:25:28,280
Yeah, you can pile it as high as
you can on your own property and

850
00:25:28,280 --> 00:25:31,060
then eventually you just have to
truck it away, right?

851
00:25:31,060 --> 00:25:33,360
It's kind of wild though, like
comparables up there.

852
00:25:33,360 --> 00:25:37,080
You know, you're buying, I guess
most of them are like fourplexes

853
00:25:37,080 --> 00:25:39,220
or duplexes or something, but like
the cost doesn't seem outrageous

854
00:25:39,220 --> 00:25:42,600
when you consider the surplus
charge that builders would have to

855
00:25:42,600 --> 00:25:44,440
incur to go up there, right?
Because the land costs would be

856
00:25:44,440 --> 00:25:46,420
slightly cheaper?
The land costs are slightly

857
00:25:46,420 --> 00:25:47,800
cheaper, land costs are slightly
cheaper, yeah.

858
00:25:47,800 --> 00:25:42,360
But you know, I don't know how
familiar people are, but if you

859
00:25:42,360 --> 00:25:44,440
look at the homes right above us
on Feathertop Way, there's a bunch

860
00:25:44,440 --> 00:25:46,620
of nice single -family homes being
built in there.

861
00:25:46,620 --> 00:25:47,800
That's a nice subdivision.

862
00:25:47,800 --> 00:25:49,920
But it is pretty expensive.

863
00:25:49,920 --> 00:25:54,480
You're looking at $2 .1 to $4 .5
million for a 3 ,800 -square -foot

864
00:25:54,480 --> 00:25:54,640
house.

865
00:25:54,640 --> 00:25:56,200
And the land is at most $800 ,000

866
00:25:56,300 --> 00:25:56,600
for a lot.

867
00:25:56,700 --> 00:25:58,020
The prices are expensive.

868
00:25:58,020 --> 00:25:59,900
You're looking at some of the
older stuff, yeah.

869
00:26:00,040 --> 00:26:02,260
pretty good deals, especially if
you're in some sort of a

870
00:26:02,260 --> 00:26:02,820
multifamily with shared costs,
right?

871
00:26:02,820 --> 00:26:02,920
Yeah.

872
00:26:02,920 --> 00:26:04,280
Are you a CPA?

873
00:26:04,280 --> 00:26:06,640
Like, is that what you went to
school for or business?

874
00:26:06,640 --> 00:26:09,280
Yeah, Yeah, I did a four -year
commerce degree at UBC Van.

875
00:26:09,280 --> 00:26:12,480
And then I did major in accounting
and then did some finance and real

876
00:26:12,480 --> 00:26:12,560
estate.

877
00:26:12,560 --> 00:26:14,920
But I had job offers like the big

878
00:26:14,920 --> 00:26:16,680
four firms and I accepted with
KPMG.

879
00:26:16,680 --> 00:26:17,700
But in the background, I'd already
started this company in my second

880
00:26:17,800 --> 00:26:17,960
year.

881
00:26:18,280 --> 00:26:21,110
I was kind of managing it from

882
00:26:21,110 --> 00:26:21,250
Vancouver.

883
00:26:21,250 --> 00:26:22,390
Wasn't doing a heck of a lot.

884
00:26:22,390 --> 00:26:24,030
But I just had this moment.

885
00:26:24,030 --> 00:26:25,470
I like it was a first week of

886
00:26:25,470 --> 00:26:25,850
KPMG.

887
00:26:25,850 --> 00:26:26,970
I was back in Kelowna.

888
00:26:26,970 --> 00:26:28,730
So I was going to get my CPA.

889
00:26:28,730 --> 00:26:29,170
I just had this moment.

890
00:26:29,170 --> 00:26:32,710
I'm like, man, if I don't give
this construction company a go

891
00:26:32,710 --> 00:26:35,790
right now, like by the time I
spend three or four more years

892
00:26:35,790 --> 00:26:37,430
getting my CPA, I'm never going to
do it.

893
00:26:37,430 --> 00:26:40,760
I was like, hey, I'm just going to
give it one year.

894
00:26:40,760 --> 00:26:42,460
I'm going to try this construction
thing.

895
00:26:42,640 --> 00:26:44,900
I'd never even been on a
construction job, so I had no

896
00:26:44,900 --> 00:26:45,360
business starting a construction
company.

897
00:26:45,360 --> 00:26:43,280
But I just gave it one year.

898
00:26:43,280 --> 00:26:44,900
I'm just going to see how it goes.

899
00:26:44,900 --> 00:26:45,740
And that's kind of how that got
going.

900
00:26:45,740 --> 00:26:46,700
Yeah, I didn't know that.

901
00:26:46,700 --> 00:26:46,420
So I feel like most construction

902
00:26:46,420 --> 00:26:47,520
companies start the other way
around, right?

903
00:26:47,680 --> 00:26:50,360
They're like they're a builder and
then they kind of get into it.

904
00:26:50,360 --> 00:26:52,060
And they're usually like in over
their head, just in the financial

905
00:26:52,060 --> 00:26:53,440
side of things.

906
00:26:53,440 --> 00:26:55,320
But you're probably better off to

907
00:26:55,320 --> 00:26:56,360
start where you came from.

908
00:26:56,360 --> 00:26:57,980
It could go either way, I think.

909
00:26:57,980 --> 00:26:59,940
go either way, I think.

910
00:26:59,940 --> 00:27:00,940
But yeah, you're right.

911
00:27:00,940 --> 00:27:05,640
So most builders, you got to think
by and large, they come from a

912
00:27:05,640 --> 00:27:08,040
construction background, maybe
even start as a laborer, then a

913
00:27:08,040 --> 00:27:09,640
carpenter, then kind of a site
supervisor.

914
00:27:09,640 --> 00:27:11,880
Like all carpenters are trying to
get off the tools at a certain

915
00:27:12,120 --> 00:27:12,820
point, right?
Yeah.

916
00:27:12,820 --> 00:27:16,120
So I think a lot of those guys
become builders and a lot of them

917
00:27:16,120 --> 00:27:18,560
are incredible builders because
they've been in construction their

918
00:27:18,680 --> 00:27:18,980
entire life.

919
00:27:18,980 --> 00:27:20,080
They just know everything about

920
00:27:20,080 --> 00:27:21,520
every aspect of build.

921
00:27:21,520 --> 00:27:23,260
But when it comes to the business

922
00:27:23,260 --> 00:27:26,780
side of things, they're completely
just learning on the fly, right?

923
00:27:26,780 --> 00:27:29,200
Like in terms of the taxes, the
invoices.

924
00:27:29,200 --> 00:27:31,100
And all that sort of thing.

925
00:27:31,100 --> 00:27:32,620
So with my accounting background,

926
00:27:32,620 --> 00:27:35,180
I did spend like four years on the
tools, you know, meeting the

927
00:27:35,180 --> 00:27:38,700
trades, being immersed in it,
quickly kind of moved out the

928
00:27:38,700 --> 00:27:38,880
tools.

929
00:27:38,880 --> 00:27:40,580
And then I have like a one main

930
00:27:41,140 --> 00:27:41,960
guy, one main construction
manager.

931
00:27:41,960 --> 00:27:43,540
And the guy is like incredible
with all aspects of construction.

932
00:27:43,540 --> 00:27:44,560
And then we take care of.

933
00:27:44,560 --> 00:27:45,560
what I'll call his weaknesses,

934
00:27:45,560 --> 00:27:47,490
which is all the paperwork in
-house.

935
00:27:47,490 --> 00:27:49,510
So having that accounting
background, I think has been a

936
00:27:49,510 --> 00:27:51,270
huge competitive advantage and
kind of differentiator, especially

937
00:27:51,270 --> 00:27:54,150
if you're trying to do higher end
homes or even these multifamily

938
00:27:54,410 --> 00:27:55,390
projects, sometimes we'll bring in
investors.

939
00:27:55,390 --> 00:27:57,630
Well, when you have a set of like
financials and budgets and all

940
00:27:57,630 --> 00:27:59,390
sorts of paperwork, that's
extremely well -organized and you

941
00:27:59,390 --> 00:28:00,930
can talk about the tax
implications, et cetera, it's

942
00:28:00,930 --> 00:28:02,450
going to give you an advantage
over the competition.

943
00:28:02,450 --> 00:28:02,550
Yeah.

944
00:28:02,550 --> 00:28:03,990
Well, I mean, specifically in

945
00:28:03,990 --> 00:28:05,530
today's market, right, where
there's so many unknowns and you

946
00:28:05,690 --> 00:28:06,770
kind of need to have that security
of it.

947
00:28:06,850 --> 00:28:10,150
In terms of building right now,
like what are people's biggest

948
00:28:10,150 --> 00:28:11,630
mistakes?
What are trends?

949
00:28:11,630 --> 00:28:12,570
I guess trends are basically just
stagnant.

950
00:28:12,570 --> 00:28:14,050
No one's doing anything right now.

951
00:28:14,190 --> 00:28:14,530
We're going European.

952
00:28:14,530 --> 00:28:14,910
We're going European.

953
00:28:16,220 --> 00:28:16,440
Yeah.

954
00:28:16,440 --> 00:28:16,600
Yeah.

955
00:28:16,600 --> 00:28:16,760
True.

956
00:28:16,840 --> 00:28:17,420
And Asian influence for sure.

957
00:28:17,420 --> 00:28:18,400
yeah and agent influence yeah i

958
00:28:18,400 --> 00:28:20,200
think biggest mistakes people make
that's i think a pretty simple

959
00:28:20,200 --> 00:28:23,540
answer i guess in terms of we're
talking about like a custom home

960
00:28:23,700 --> 00:28:25,660
it's just not having like an open
and honest communication up front

961
00:28:25,660 --> 00:28:27,880
with your builder and that could
be on the client or that could be

962
00:28:27,960 --> 00:28:31,500
on the builder so You know, if the
builder's not being honest about

963
00:28:31,500 --> 00:28:34,760
how much it's actually going to
cost, that's going to lead to big

964
00:28:34,760 --> 00:28:36,000
problems once the product's
underway or how long the project's

965
00:28:36,000 --> 00:28:36,980
going to take.

966
00:28:36,980 --> 00:28:38,820
So that's also not a good start.

967
00:28:38,820 --> 00:28:41,800
And then for the client, if the
client's not being open and honest

968
00:28:41,800 --> 00:28:43,410
with how much they realistically
and comfortably want to spend,

969
00:28:43,410 --> 00:28:44,230
it's not good.

970
00:28:44,230 --> 00:28:45,610
And then also if they're not being

971
00:28:45,610 --> 00:28:47,730
honest with how long they think
the product's going to take or,

972
00:28:47,730 --> 00:28:50,410
you know, certain features that I
call them like must have features

973
00:28:50,410 --> 00:28:51,630
for the client.

974
00:28:51,630 --> 00:28:53,490
If they're not, you know, telling

975
00:28:53,490 --> 00:28:54,130
the contractor that.

976
00:28:54,130 --> 00:28:55,210
It's just going to be kind of a

977
00:28:55,210 --> 00:28:56,970
rocky road right from the start.

978
00:28:56,970 --> 00:28:57,830
And then also just probably not

979
00:28:57,830 --> 00:28:58,750
choosing the right builder.

980
00:28:58,750 --> 00:28:59,850
Interesting, like Kelowna, when we

981
00:28:59,850 --> 00:29:03,310
go to these award shows, there are
so many good builders in Kelowna.

982
00:29:03,310 --> 00:29:05,950
Like the quality of these award
show of the photos and of the

983
00:29:05,950 --> 00:29:08,990
projects that you see people
building, it's just like it's jaw

984
00:29:09,150 --> 00:29:09,270
dropping.

985
00:29:09,410 --> 00:29:10,710
So tons of exceptional builders

986
00:29:10,710 --> 00:29:13,020
and developers in Kelowna.

987
00:29:13,020 --> 00:29:13,720
So lots of good options.

988
00:29:13,860 --> 00:29:17,900
But you want to make sure when
you're choosing your builder, like

989
00:29:17,900 --> 00:29:18,900
make sure that you.

990
00:29:18,900 --> 00:29:19,480
trust them.

991
00:29:19,480 --> 00:29:21,620
Obviously it's going to be a
massive investment.

992
00:29:21,620 --> 00:29:24,480
So make sure you have a lot of
trust in that person, especially

993
00:29:24,480 --> 00:29:26,500
if it's like a cost plus job,
right?

994
00:29:26,640 --> 00:29:29,720
Cause you have the trust that all
these invoices are for their

995
00:29:29,720 --> 00:29:29,940
house.

996
00:29:29,940 --> 00:29:31,680
And then, you know, there's a

997
00:29:31,680 --> 00:29:32,640
markup added to that.

998
00:29:32,860 --> 00:29:34,600
And then you have to like them

999
00:29:34,880 --> 00:29:36,580
too, right?
Like you're going to spend seven,

1000
00:29:36,580 --> 00:29:39,320
eight months to three or four
years with this person.

1001
00:29:39,320 --> 00:29:42,560
So make sure that you like them
and you get along with them.

1002
00:29:42,560 --> 00:29:45,560
And then I always recommend like
ask a ton of questions.

1003
00:29:45,560 --> 00:29:48,020
And that builder should have an
answer to every single question.

1004
00:29:48,020 --> 00:29:49,760
You know, no questions asked.

1005
00:29:49,760 --> 00:29:50,980
They should not hesitate.

1006
00:29:50,980 --> 00:29:53,960
And, you know, make sure that you
talk to the clients that they

1007
00:29:53,960 --> 00:29:57,960
built for or, you know, you visit
their job sites that they have on

1008
00:29:57,960 --> 00:29:58,860
the go.

1009
00:29:59,140 --> 00:30:00,480
Like, are the job sites well

1010
00:30:00,480 --> 00:30:01,020
organized?
Are they clean?

1011
00:30:01,020 --> 00:30:04,360
Do they have job sites on the go?
So all things like that.

1012
00:30:04,360 --> 00:30:05,860
So just have open and honest
communication.

1013
00:30:05,860 --> 00:30:07,700
Otherwise, you can get derailed.

1014
00:30:08,080 --> 00:30:08,300
pretty quickly.

1015
00:30:08,300 --> 00:30:08,600
Yeah.

1016
00:30:08,600 --> 00:30:10,320
I feel like a huge one there,

1017
00:30:10,320 --> 00:30:14,660
which I don't know if people do or
not, but it's like, Hey, can I

1018
00:30:14,660 --> 00:30:16,880
come walk through a home you're
building right now?

1019
00:30:16,880 --> 00:30:19,000
Like, you know, why would you not
do that?

1020
00:30:19,000 --> 00:30:21,520
Do you get most clients looking to
do that?

1021
00:30:21,520 --> 00:30:22,020
A hundred percent.

1022
00:30:22,020 --> 00:30:22,500
hundred percent.

1023
00:30:22,500 --> 00:30:22,620
Yeah.

1024
00:30:22,620 --> 00:30:24,340
Like I actually take a lot of

1025
00:30:24,340 --> 00:30:28,740
clients through my personal home
just to show them like what I did

1026
00:30:28,740 --> 00:30:30,880
personally in terms of features,
where I spent the money, where I

1027
00:30:30,880 --> 00:30:33,020
didn't spend the money is almost
equally important.

1028
00:30:33,020 --> 00:30:35,180
And we'll take them through
projects that are underway or

1029
00:30:35,180 --> 00:30:36,460
projects that are similar to their
own.

1030
00:30:36,460 --> 00:30:36,620
Right.

1031
00:30:36,620 --> 00:30:38,480
Or if we're talking to them about

1032
00:30:38,480 --> 00:30:40,220
a, Hey, you should do this cool
feature.

1033
00:30:40,220 --> 00:30:41,680
Lots of people are doing this.

1034
00:30:41,680 --> 00:30:43,560
So I think you're going to love

1035
00:30:43,660 --> 00:30:43,720
this.

1036
00:30:43,720 --> 00:30:45,660
We can take them through one of

1037
00:30:45,660 --> 00:30:49,560
the projects and have them walk
through it and see it in person.

1038
00:30:49,560 --> 00:30:52,600
So just trying to add value and
make sure the person gets the best

1039
00:30:52,600 --> 00:30:54,840
result at the end of the day.

1040
00:30:54,840 --> 00:30:55,160
Yeah.

1041
00:30:55,160 --> 00:30:58,100
Do you get a lot of like self
-enjoyment for like walking

1042
00:30:58,100 --> 00:30:59,240
through, like handing the keys
over?

1043
00:30:59,240 --> 00:31:02,530
Like, is that kind of the reason
why you like to build is seeing

1044
00:31:02,530 --> 00:31:06,610
like a client come in and be like,
Oh man, this is my dream home.

1045
00:31:06,610 --> 00:31:07,510
Man, that's a fascinating
question.

1046
00:31:08,130 --> 00:31:10,550
I project managed for probably
eight or nine years.

1047
00:31:10,550 --> 00:31:13,150
And now, like I alluded to
earlier, I'm pretty much primarily

1048
00:31:13,290 --> 00:31:14,090
in the office.

1049
00:31:14,090 --> 00:31:15,330
I have project managers now.

1050
00:31:15,330 --> 00:31:17,170
So I'm not on site a ton.

1051
00:31:17,170 --> 00:31:17,650
I miss that.

1052
00:31:17,650 --> 00:31:21,810
I miss being able to hand the keys
to the clients.

1053
00:31:21,810 --> 00:31:23,930
I guess I could.

1054
00:31:23,930 --> 00:31:24,910
I could overrule my project

1055
00:31:24,910 --> 00:31:26,170
manager and tell me.

1056
00:31:26,170 --> 00:31:26,530
Give me those.

1057
00:31:26,530 --> 00:31:27,630
I'm having a bad day.

1058
00:31:27,630 --> 00:31:28,850
I want to feel better.

1059
00:31:28,850 --> 00:31:29,110
Yeah.

1060
00:31:29,600 --> 00:31:29,920
Yeah.

1061
00:31:29,920 --> 00:31:32,520
But no, so yeah, the project
managers hand over the keys and

1062
00:31:32,520 --> 00:31:33,880
they get the glory, right?
It's like real estate agents and

1063
00:31:34,000 --> 00:31:34,340
mortgage brokers.

1064
00:31:34,340 --> 00:31:35,040
like real estate agents and

1065
00:31:35,040 --> 00:31:35,580
mortgage brokers.

1066
00:31:35,700 --> 00:31:36,540
I mostly now, like my job is

1067
00:31:36,540 --> 00:31:38,720
managing people, right?
It's just teaching, training and

1068
00:31:38,720 --> 00:31:40,500
trusting and delegating, right?
To the people that I have in

1069
00:31:40,500 --> 00:31:40,640
place.

1070
00:31:40,640 --> 00:31:40,780
Yeah.

1071
00:31:40,780 --> 00:31:41,620
I love that answer.

1072
00:31:41,620 --> 00:31:41,840
Okay.

1073
00:31:42,000 --> 00:31:45,340
Well, we got to start getting into
our wrap up.

1074
00:31:45,340 --> 00:31:46,540
part here.

1075
00:31:46,540 --> 00:31:48,280
So I'll just dive into it.

1076
00:31:48,480 --> 00:31:49,880
I feel like Matt and I have asked
us 10 different ways.

1077
00:31:49,880 --> 00:31:51,560
So just give us the answer.

1078
00:31:51,560 --> 00:31:53,620
If you could buy property in the

1079
00:31:54,520 --> 00:31:56,840
next 12 months in the Okanagan,
what would it be?

1080
00:31:56,840 --> 00:32:00,460
So one of my life goals actually
growing up was to at one point

1081
00:32:00,460 --> 00:32:01,380
live on the water in Okanagan
Lake.

1082
00:32:01,380 --> 00:32:05,360
Cause I was like, you know what,
if you can do that, you know, like

1083
00:32:05,360 --> 00:32:06,440
you've made it right.

1084
00:32:06,440 --> 00:32:07,620
Like you're going to live this

1085
00:32:07,620 --> 00:32:08,060
Okanagan lifestyle.

1086
00:32:08,060 --> 00:32:09,940
You're going to be walking off

1087
00:32:09,940 --> 00:32:12,300
your dock on the boat and doing
all the great things.

1088
00:32:12,300 --> 00:32:16,000
But in 2019, we bought a lot in
Lakeview Heights, like a view lot

1089
00:32:16,000 --> 00:32:18,950
in Lakeview Heights and a new
little subdivision that actually

1090
00:32:18,950 --> 00:32:20,250
the Bylandons developed and just
completely love it.

1091
00:32:20,250 --> 00:32:21,490
Like we love every bit of it.

1092
00:32:21,950 --> 00:32:22,490
We love the location.

1093
00:32:22,490 --> 00:32:23,210
We love the privacy.

1094
00:32:23,210 --> 00:32:24,770
We love the old growth, the

1095
00:32:24,770 --> 00:32:25,390
neighborhood, the amenities close
by.

1096
00:32:25,390 --> 00:32:26,470
We've got, you know, you're
literally driving through

1097
00:32:26,470 --> 00:32:27,730
vineyards to get to your house.

1098
00:32:27,730 --> 00:32:28,410
Nestor's, we've got a little

1099
00:32:28,590 --> 00:32:29,050
bakery there.

1100
00:32:29,050 --> 00:32:29,370
Beautiful view.

1101
00:32:29,370 --> 00:32:30,650
And it's a great spot to raise
your family.

1102
00:32:30,650 --> 00:32:32,550
We're on a cul -de -sac.

1103
00:32:32,550 --> 00:32:33,430
So for me.

1104
00:32:33,430 --> 00:32:34,850
My dream, I've put the other
dream.

1105
00:32:34,850 --> 00:32:35,770
It's no longer a dream.

1106
00:32:35,770 --> 00:32:37,710
And we want to buy like a legacy

1107
00:32:38,090 --> 00:32:40,830
property in Lakeview Heights,
private, big, and I want to tear

1108
00:32:40,830 --> 00:32:41,430
something down.

1109
00:32:41,430 --> 00:32:44,450
And then I want to build a nice

1110
00:32:44,450 --> 00:32:45,230
house for us and actually a
carriage house.

1111
00:32:45,310 --> 00:32:47,670
And I've already kind of talked my
in -laws into moving into the

1112
00:32:47,770 --> 00:32:47,890
carriage house.

1113
00:32:47,890 --> 00:32:48,050
Awesome.

1114
00:32:48,050 --> 00:32:49,470
I have the floor plans and I have
the renderings and they're

1115
00:32:49,470 --> 00:32:50,270
actually saved on my desktop.

1116
00:32:50,270 --> 00:32:51,510
So I see these floor plans every

1117
00:32:51,510 --> 00:32:51,590
day.

1118
00:32:51,590 --> 00:32:52,910
So it will happen.

1119
00:32:52,910 --> 00:32:54,330
I'm willing it into existence.

1120
00:32:54,330 --> 00:32:55,030
So I love that.

1121
00:32:55,030 --> 00:32:56,290
It's only a month of time.

1122
00:32:56,290 --> 00:32:58,250
Matt, you were way farther ahead

1123
00:32:58,250 --> 00:33:02,150
to your dream than most of our
other guests when we asked that

1124
00:33:02,150 --> 00:33:02,350
question.

1125
00:33:02,350 --> 00:33:03,470
than most of our other guests when

1126
00:33:03,470 --> 00:33:04,810
we asked that question.

1127
00:33:04,810 --> 00:33:05,910
Yeah, like financially invested

1128
00:33:05,910 --> 00:33:07,130
and it's going to happen.

1129
00:33:07,130 --> 00:33:07,890
like financially invested and it's

1130
00:33:08,030 --> 00:33:08,590
going to happen.

1131
00:33:08,590 --> 00:33:08,730
Yeah.

1132
00:33:08,730 --> 00:33:10,330
Well, and Lakeview is such a great
area.

1133
00:33:10,330 --> 00:33:13,520
It is a nice area.

1134
00:33:13,520 --> 00:33:15,500
That's it.

1135
00:33:15,500 --> 00:33:17,160
It's the Kitsilano of Kelowna,
man.

1136
00:33:17,340 --> 00:33:18,900
Like we can literally rip downtown
in six minutes.

1137
00:33:18,900 --> 00:33:22,780
But then at the same time, we have
this like private large piece of

1138
00:33:22,780 --> 00:33:23,120
property.

1139
00:33:23,120 --> 00:33:24,580
Like it's just unbeatable.

1140
00:33:24,580 --> 00:33:24,860
Yeah.

1141
00:33:25,040 --> 00:33:25,300
Great.

1142
00:33:25,300 --> 00:33:25,900
That's awesome.

1143
00:33:25,900 --> 00:33:26,160
All right.

1144
00:33:26,160 --> 00:33:28,740
If you could give your 20 -year
-old self any advice.

1145
00:33:28,880 --> 00:33:29,820
What are you saying?
Embrace failure.

1146
00:33:29,820 --> 00:33:30,100
failure.

1147
00:33:30,100 --> 00:33:30,220
Nice.

1148
00:33:30,220 --> 00:33:34,330
I think generally, think
generally, even just speaking for

1149
00:33:34,330 --> 00:33:37,030
myself, you know, no one likes
being bad at things and no one

1150
00:33:37,030 --> 00:33:38,990
likes failing at things or looking
silly in front of other people.

1151
00:33:38,990 --> 00:33:41,750
And I think because of that, we
avoid, you know, pursuing our

1152
00:33:40,050 --> 00:33:40,150
dreams.

1153
00:33:40,150 --> 00:33:41,390
We avoid trying new things.

1154
00:33:41,390 --> 00:33:47,430
And I think it just holds us back
in so many ways and so many

1155
00:33:47,730 --> 00:33:48,990
aspects of life.

1156
00:33:48,990 --> 00:33:51,270
If you can embrace failure and

1157
00:33:51,270 --> 00:33:54,430
know that it's actually necessary
to be successful, you have to fail

1158
00:33:54,490 --> 00:33:54,950
a lot of times.

1159
00:33:54,950 --> 00:33:56,110
I literally all, all my

1160
00:33:56,110 --> 00:33:57,430
businesses, we fail every day.

1161
00:33:57,430 --> 00:33:58,970
It's like, okay, how can we not do

1162
00:33:58,970 --> 00:33:59,290
that again?
Let's iterate.

1163
00:33:59,290 --> 00:34:00,310
Let's put some procedures in
place.

1164
00:34:00,450 --> 00:34:03,730
Let's not make that mistake again,
but you're failing all the time,

1165
00:34:03,730 --> 00:34:04,930
but that's just part of success,
right?

1166
00:34:04,930 --> 00:34:07,690
I just quickly want to say, I
listened to a podcast a year ago.

1167
00:34:07,690 --> 00:34:09,909
We all have young kids.

1168
00:34:09,909 --> 00:34:10,949
So this is important.

1169
00:34:10,949 --> 00:34:14,050
The lady was saying how, instead
of asking her kids when they got

1170
00:34:14,150 --> 00:34:16,770
home from school, you know, what
was the best part of your day?

1171
00:34:16,870 --> 00:34:19,570
What did you succeed at today?
She would ask them, what was the

1172
00:34:19,570 --> 00:34:23,090
thing that you failed at today?
And I just thought that was so

1173
00:34:23,090 --> 00:34:24,560
cool because.

1174
00:34:24,560 --> 00:34:26,940
She was like normalizing failure,

1175
00:34:26,940 --> 00:34:28,639
right?
Saying that like, hey, this is

1176
00:34:28,639 --> 00:34:28,820
normal.

1177
00:34:28,820 --> 00:34:29,460
This is good.

1178
00:34:29,460 --> 00:34:30,159
This is good to fail.

1179
00:34:30,159 --> 00:34:32,760
And she said after a few months,

1180
00:34:32,760 --> 00:34:35,699
the kids would get home and be
like, oh, you wouldn't believe how

1181
00:34:35,699 --> 00:34:37,300
badly I screwed up the whole day.

1182
00:34:37,300 --> 00:34:38,480
And she said it like.

1183
00:34:38,659 --> 00:34:40,440
No, you're getting a call.

1184
00:34:40,440 --> 00:34:42,040
Yeah, but she became this thing

1185
00:34:42,040 --> 00:34:45,860
like all the kids would try to
outdo each other's failures.

1186
00:34:45,940 --> 00:34:46,699
And I just think that's
incredible.

1187
00:34:46,699 --> 00:34:48,960
That's something I want to pass
down to my kids.

1188
00:34:48,960 --> 00:34:49,199
That's interesting.

1189
00:34:49,199 --> 00:34:50,960
I just think if you want to be

1190
00:34:50,960 --> 00:34:54,050
successful, you've got to realize
that you are going to fail.

1191
00:34:54,050 --> 00:34:54,190
normal.

1192
00:34:54,190 --> 00:34:54,810
This is good.

1193
00:34:54,810 --> 00:34:56,489
This is No, you're Like a lot.

1194
00:34:56,489 --> 00:34:57,170
It's unavoidable.

1195
00:34:57,170 --> 00:34:57,330
Yeah.

1196
00:34:57,330 --> 00:34:58,970
I don't know if I listen to the

1197
00:34:58,970 --> 00:35:00,950
same podcast, but I've definitely,
I've heard that as well.

1198
00:35:00,950 --> 00:35:02,310
And yeah, I love that.

1199
00:35:02,310 --> 00:35:03,450
What's your favorite charity or

1200
00:35:03,650 --> 00:35:05,690
how do you get back?
We get involved with the clone of

1201
00:35:05,690 --> 00:35:05,830
Santas.

1202
00:35:05,830 --> 00:35:08,790
get involved with the clone of

1203
00:35:08,790 --> 00:35:08,910
Santas.

1204
00:35:08,910 --> 00:35:10,190
So we'll do like these Christmas

1205
00:35:10,190 --> 00:35:13,150
hampers, like these custom
Christmas hampers every winter for

1206
00:35:13,150 --> 00:35:14,370
families that are in need.

1207
00:35:14,370 --> 00:35:16,970
It's actually an incredibly like

1208
00:35:16,970 --> 00:35:17,570
emotional experience.

1209
00:35:17,730 --> 00:35:19,730
They introduce you to a couple of

1210
00:35:19,730 --> 00:35:21,830
families and there's kind of a
list of items that they can't

1211
00:35:21,830 --> 00:35:22,590
afford to have.

1212
00:35:22,590 --> 00:35:24,110
Get those items together and you

1213
00:35:24,110 --> 00:35:24,910
can deliver them to the family.

1214
00:35:24,910 --> 00:35:24,010
And it's pretty powerful.

1215
00:35:24,010 --> 00:35:25,990
We'll do like Thanksgiving food
drives and such and get food and

1216
00:35:25,990 --> 00:35:27,450
donate some groceries and whatnot.

1217
00:35:27,450 --> 00:35:27,370
And then actually my right hand on

1218
00:35:27,370 --> 00:35:29,590
my construction manager, he's got
three boys in hockey.

1219
00:35:29,590 --> 00:35:31,710
So I swear we must sponsor like
every hockey team and every

1220
00:35:31,870 --> 00:35:33,830
sweater and everything throughout
the entire Okanagan.

1221
00:35:33,890 --> 00:35:35,790
I wrote the young gentleman's name
down just like.

1222
00:35:35,790 --> 00:35:37,210
Two weeks ago, we have sponsored
Maverick McCarthy.

1223
00:35:37,350 --> 00:35:39,070
I think he's like a 12 -year -old.

1224
00:35:39,070 --> 00:35:40,830
Apparently, he's an absolute stud.

1225
00:35:41,290 --> 00:35:41,930
Oh, yeah.

1226
00:35:42,130 --> 00:35:42,870
He's trying to make the NHL.

1227
00:35:42,870 --> 00:35:44,610
Apparently, he's like the best
defenseman in Western Canada.

1228
00:35:44,610 --> 00:35:46,040
I don't know.

1229
00:35:46,040 --> 00:35:46,080
Yeah.

1230
00:35:46,080 --> 00:35:49,480
But, you know, trying to make the
NHL, it's expensive probably to do

1231
00:35:49,480 --> 00:35:49,700
so.

1232
00:35:49,700 --> 00:35:52,360
So, we just put some money in and

1233
00:35:52,360 --> 00:35:53,540
hopefully he makes it.

1234
00:35:53,540 --> 00:35:53,720
Sweet.

1235
00:35:53,720 --> 00:35:54,680
Remember that name.

1236
00:35:54,680 --> 00:35:55,520
Remember that name.

1237
00:35:55,520 --> 00:35:55,720
Yeah.

1238
00:35:55,720 --> 00:35:56,040
Yeah.

1239
00:35:56,040 --> 00:35:58,700
Well, maybe we should have him on
the podcast before he makes it

1240
00:35:58,700 --> 00:36:01,300
big, you know?
Get him on the pod, right?

1241
00:36:01,300 --> 00:36:03,140
right?
Maybe we should have him on our

1242
00:36:03,140 --> 00:36:03,280
team.

1243
00:36:03,280 --> 00:36:05,000
Matt's trying to spice up a hockey

1244
00:36:05,000 --> 00:36:06,900
league for us to get into him.

1245
00:36:06,900 --> 00:36:07,640
He's only 12.

1246
00:36:07,640 --> 00:36:10,580
Hey, man, he's got to skate better
than us.

1247
00:36:10,580 --> 00:36:12,080
He'll definitely be way better
than us.

1248
00:36:12,080 --> 00:36:12,640
He's probably huge.

1249
00:36:12,640 --> 00:36:14,000
Yeah, who knows?

1250
00:36:14,000 --> 00:36:15,620
He's on the creatine for sure.

1251
00:36:15,620 --> 00:36:15,980
than us.

1252
00:36:16,200 --> 00:36:16,960
He'll He's on the creatine for
sure.

1253
00:36:16,960 --> 00:36:17,400
Well, absolutely.

1254
00:36:17,400 --> 00:36:19,520
He's on the protein diet for sure.

1255
00:36:19,520 --> 00:36:20,340
Yeah, that's awesome.

1256
00:36:20,460 --> 00:36:20,600
All right.

1257
00:36:20,600 --> 00:36:22,560
How can Taylor or I or our
listener help you?

1258
00:36:22,560 --> 00:36:25,800
What can we do for you?
If you guys want to check out our

1259
00:36:25,800 --> 00:36:27,260
websites, we're handhhomes
ca, all spelled out.

1260
00:36:27,260 --> 00:36:29,720
So it's a cool spot to check out
our projects that we've done

1261
00:36:29,720 --> 00:36:32,440
before and see some more awards,
contact numbers on there and our

1262
00:36:32,440 --> 00:36:32,880
emails on there.

1263
00:36:32,880 --> 00:36:33,880
We're on Facebook and Instagram

1264
00:36:33,880 --> 00:36:35,520
under H &H Homes and Okanagan
Infel as well for both those

1265
00:36:35,520 --> 00:36:35,720
companies.

1266
00:36:35,820 --> 00:36:37,620
So if anyone wants to reach out,

1267
00:36:37,620 --> 00:36:41,440
stop by the office or give us a
call, honestly, in a 10 or 15

1268
00:36:41,440 --> 00:36:45,860
minute conversation, we can answer
a lot of people's questions and

1269
00:36:46,180 --> 00:36:48,320
let them know if what they're
thinking about is feasible, you

1270
00:36:48,320 --> 00:36:49,420
know, how much is going to cost.

1271
00:36:49,420 --> 00:36:50,520
cost to build and how long it's

1272
00:36:50,520 --> 00:36:50,940
going to take.

1273
00:36:51,300 --> 00:36:51,500
Yeah.

1274
00:36:51,540 --> 00:36:55,300
Or we just go with a weighted walk
with you, you know, I'll jump on

1275
00:36:55,300 --> 00:36:58,140
your back and we'll just do laps
around the mission and throw on

1276
00:36:58,140 --> 00:36:58,720
the rucksack.

1277
00:36:58,720 --> 00:36:58,940
Yeah.

1278
00:36:58,940 --> 00:36:59,060
Yeah.

1279
00:36:59,060 --> 00:36:59,220
Yeah.

1280
00:36:59,220 --> 00:36:59,320
Yeah.

1281
00:36:59,320 --> 00:36:59,820
All right, man.

1282
00:36:59,820 --> 00:37:01,820
Well, thank you for coming on.

1283
00:37:01,820 --> 00:37:03,960
It's been a long time coming and

1284
00:37:03,960 --> 00:37:04,620
yeah, I appreciate you.

1285
00:37:04,620 --> 00:37:05,040
So yeah.

1286
00:37:05,220 --> 00:37:05,440
on.

1287
00:37:05,440 --> 00:37:05,660
Yeah.

1288
00:37:05,920 --> 00:37:06,000
Thanks guys.

1289
00:37:06,000 --> 00:37:06,260
Yeah.

1290
00:37:06,260 --> 00:37:08,940
If you see me, uh, walking around
lower mission there, a hunched

1291
00:37:08,940 --> 00:36:47,900
over with a backpack, give me a
honk or a wave.

1292
00:36:47,900 --> 00:36:48,040
Right.

1293
00:36:55,960 --> 00:37:12,860
And we'll all avoid any puddles if

1294
00:37:13,340 --> 00:37:13,720
it's raining.

1295
00:37:13,720 --> 00:37:14,460
we'll all avoid any puddles if

1296
00:37:14,460 --> 00:37:14,740
it's raining.

1297
00:37:14,740 --> 00:37:15,140
Yeah.

1298
00:37:15,300 --> 00:37:16,320
I got you there.

1299
00:37:16,320 --> 00:37:16,620
All right.

1300
00:37:16,620 --> 00:37:17,000
Thanks Jeff.

1301
00:37:17,120 --> 00:37:18,460
We'll see you around, man.

1302
00:37:18,560 --> 00:37:18,800
Appreciate it.

1303
00:37:18,800 --> 00:37:19,360
Cheers guys.

1304
00:37:19,360 --> 00:37:19,720
Appreciate it.