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Seeing those numbers on the countdown clocks going

Seeing those numbers on the countdown clocks going up? And some going down? Yes. Timelines have been adjusted.
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To be completed:
✴️ Vinyl siding and trim (started)
➡️ Eavestroughs
➡️ Stone siding
✅ Gas meters
✅ Hot water tanks
✅ Painted front doors
✴️ Detached garages (started)
➡️ 2nd floor decks and stairs
✅ Cabinets
✅ Paint walls (primer and 1st coat)
✅ Countertops
✅ Trims/doors
✅ Capping/railings
✅ Lights/switches
✅ Laminate
➡️ Shower doors/mirrors
✴️ Tile/plumbing (started)
➡️ Handles/finishings
✅ Paint doors/trim/railings
✅ Paint walls (final coat)
➡️ Carpet
➡️ Final touches/closet shelves
➡️ Stage 1 Clean
➡️ Blinds
➡️ Appliances
➡️ 2nd clean
➡️ Walkthrough
➡️ Fixing deficiencies
➡️ Possession
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#yegbuilders #edmontonrealestate #yeghomes #edmontonhomes #yegrealestate

We’re starting a definition series, and so let’s start at the top! Often investors will come to me saying they are interested in “multifamily” when they actually mean that they want to buy a duplex, triplex, or four plex. However, multifamily, especially in the lending world means 5 or more units.

Siding and garages are started! Thanks to warmer w

Siding and garages are started! Thanks to warmer weather. Framing the garages to be done by Tuesday. Laminate arrived on a large trailer, so expecting flooring to start soon too.
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Construction will continue until Jan 31 with touch-ups going on afterwards so most of our tenant leases will now end up being signed for March 1.
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To be completed:
✴️ Vinyl siding and trim (started)
➡️ Eavestroughs
➡️ Stone siding
✅ Gas meters
✅ Hot water tanks
✅ Painted front doors
✴️ Detached garages (started)
➡️ 2nd floor decks and stairs
✅ Cabinets
✅ Paint walls (primer and 1s coat)
✅ Countertops
✅ Trims/doors
✅ Capping/railings
✴️ Lights/switches (in progress)
✴️ Laminate (in progress)
➡️ Shower doors/mirrors
➡️ Tile/plumbing
➡️ Handles/finishings
✅ Paint doors/trim/railings (in progress)
✅ Paint walls (final coat)
➡️ Carpet
➡️ Final touches/closet shelves
➡️ Stage 1 Clean
➡️ Blinds
➡️ Appliances
➡️ 2nd clean
➡️ Walkthrough
➡️ Fixing deficiencies
➡️ Possession
.
.
There will also be some seasonal items that need warmer temperatures in order to complete after possession:
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➡️ Concrete steps and walkways
➡️ Parging
➡️ Fences
➡️ Landscaping
.
.
#yegbuilders #edmontonrealestate #yeghomes #edmontonhomes #yegrealestate

…while we’re buying 20 ft lots for about $100k

…while we’re buying 20 ft lots for about $100k in Edmonton. While build costs are rising, they don’t change as much from place to place. It’s the cost of land that varies and drives up total cost of the property. #buildinalberta #investalberta #investtoronto #torontorealestateinvesting #yyzrealestste #torontorealestate

Time for another update. We can see the colour of

Time for another update. We can see the colour of our front doors! Looking forward to seeing more progress on the exterior this week as temperatures improve here in Edmonton.
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Follow along, with our regular updates, to see a lot of progress in a short amount of time…
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To be completed:
➡️ Vinyl siding and trim
➡️ Eavestroughs
➡️ Stone siding
➡️ Gas meters
✅ Hot water tanks
✅ Painted front doors
➡️ Detached garages
➡️ 2nd floor decks and stairs
✅ Cabinets
✅ Paint walls (primer and 1st coat)
✅ Countertops
✅ Trims/doors
✅ Capping/railings
✴️ Lights/switches (in progress)
➡️ Flooring
➡️ Shower doors/mirrors
➡️ Tile/plumbing
➡️ Handles/finishings
✴️ Paint doors/trim/railings (in progress)
➡️ Paint walls (final coat)
➡️ Carpet
➡️ Final touches/closet shelves
➡️ Stage 1 Clean
➡️ Blinds
➡️ Appliances
➡️ 2nd clean
➡️ Walkthrough
➡️ Fixing deficiencies
➡️ Possession
.
.
There will also be some seasonal items that need warmer temperatures in order to complete after possession:
.
➡️ Concrete steps and walkways
➡️ Parging
➡️ Fences
➡️ Landscaping
.
.
#yegbuilders #edmontonrealestate #yeghomes #edmontonhomes #yegrealestate

Housing affordability is meant to be a measure of

Housing affordability is meant to be a measure of the share of disposable income that a representative household would put toward housing-related expenses.
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There has been a lot of talk about this in the multifamily investor community lately.
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Part of the new MLI Select Affordability Housing Program with CMHC for financing multifamily (5+ units) buildings, now looks at both rent and income for a particular area, while before, it only looked at rent.
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Before, to qualify as affordable housing, the rent had to be 10% below market rent, while now they are looking for rent to be less than 30% of the median renter’s income. This is much more achievable in Edmonton and Calgary, while much harder in Toronto and Vancouver.
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We are looking out for more clarifications and info which is supposed to come out in the coming weeks!

Thanks again @albertainvestorteam for sponsoring o

Thanks again @albertainvestorteam for sponsoring our event ;)

If you said $40k, you’re right! No guarantees we

If you said $40k, you’re right! No guarantees we will get 95% LTV and we may not want to leverage ourselves that high, but with new CMHC rules it is possible!

In December 2021 Canada Mortgage Housing Corporation (CMHC) announced the launch of the new ‘MLI Select’ mortgage financing product to replace the current ‘MLI Flex’ product for current and proposed 5+ unit apartment buildings.

If you are an owner or developer of apartment buildings in Canada this program may be a very attractive program for you.

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Patrick & Zorya Belanger

Patrick & Zorya Belanger

Owners, BREI Properties

The best way to contact us is at info@brei.ca or through one of the social media links below.

We specialize in residential and multi-family buildings in the Edmonton, Alberta area, including Leduc and Spruce Grove.