The Wisdom, Lifestyle, Money, Show

In this episode of the Wisdom Lifestyle Money Show, host Scott Dillingham teams up with mortgage agents and commercial developers Christine Traynor and Jennifer Champion to break down CMHC multifamily financing and reveal why Alberta has become the hotspot for multifamily property investment. This comprehensive discussion provides investors with everything they need to know about accessing government-backed financing for multifamily real estate while building long-term wealth through strategic property development.

Scott begins by providing a detailed overview of the MLI Select program, explaining how investors can access up to 95% loan to value financing with amortizations extending up to 50 years through strategic commitments to affordability, energy efficiency, and accessibility. The program operates on a points-based system where projects earn scores across three key categories, with higher points unlocking better financing terms including reduced insurance premiums and extended amortization periods. Understanding this points system is crucial for maximizing financing advantages, as investors can earn up to 100 points through affordability commitments alone, or supplement their score through energy efficiency upgrades and accessibility features that meet CSA standards.

Christine and Jennifer share their boots-on-the-ground experience developing multifamily properties in Edmonton, highlighting real investment opportunities including 20-unit and 8-unit new construction projects currently available. They explain why Alberta's landlord-friendly legislation, absence of rent control policies, and robust population growth make it an attractive alternative to expensive markets like Ontario and British Columbia. The team discusses specific financing requirements including net worth qualifications of typically 25% of the loan amount or minimum $100,000, along with liquidity requirements of approximately 10% of purchase price and development costs.

The episode reveals compelling market data showing Edmonton's population grew nearly 9% between 2022 and 2024, reaching over 1.6 million residents. Alberta is experiencing over 4% annual population growth, driven primarily by interprovincial migration from expensive provinces where affordability has become critical. Christine emphasizes Edmonton's unique advantages including median rents of $1,665 for affordable housing thresholds that align perfectly with actual market rents, allowing investors to maximize MLI Select financing without sacrificing cash flow. This contrasts sharply with markets like Windsor, Ontario, where affordable rent requirements force investors to discount market rents by approximately 50%.

Jennifer highlights Edmonton's zoning advantages where properly sized lots can accommodate eight-unit buildings compared to only three units in Ontario, effectively multiplying investment potential. These eight-unit projects typically range from $2.2 to $2.5 million with net worth requirements of $500,000 to $600,000, making them accessible through partnership structures. Whether you're an experienced developer or first-time multifamily investor, this episode provides actionable insights on structuring deals, partnering strategies, and building long-term wealth through multifamily real estate.

Key Takeaways
  • MLI Select Financing Advantages: Access up to 95% loan to value or loan to cost with 50-year amortizations through CMHC's points-based system rewarding affordability, energy efficiency, and accessibility commitments
  • Net Worth and Liquidity Requirements: Borrowers need minimum 25% of loan amount in net worth (or $100K minimum) and approximately 10% of purchase price in liquid assets, making partnerships essential for many investors
  • Alberta's Multifamily Housing Advantage: No provincial sales tax, no rent control, landlord-friendly eviction processes, and faster approval timelines compared to Ontario and British Columbia create superior investment conditions
  • Edmonton Market Growth Drivers: Population increased 9% from 2022-2024 to over 1.6 million residents with 4%+ annual growth, interprovincial migration from expensive markets, and median incomes of $94,000 supporting housing demand
  • Eight-Unit Building Opportunity: Edmonton zoning allows eight units on properly sized lots versus only three units in Ontario, multiplying investment potential with purchase prices ranging from $2.2-$2.5 million qualifying for MLI Select
  • New Construction Benefits: Brand new properties eliminate heavy repair costs with warranty coverage, allow custom design for optimal tenant attraction, and qualify more easily for maximum MLI Select financing than existing buildings
  • Partnership Opportunities Available: Join experienced developers on turnkey projects ranging from 8-unit buildings ($500-600K net worth required) to 20-unit properties ($2.16M net worth required) with full-service support from site selection through lease-up
Links to Show References
  • (00:00) - - Introduction to CMHC Multifamily Financing
  • (02:35) - - What is MLI Select Program and How Does It Work
  • (05:50) - - Understanding the Points System: Affordability, Energy Efficiency, Accessibility
  • (09:05) - - Loan to Value and Amortization Benefits Explained
  • (12:20) - - Net Worth and Liquidity Requirements for CMHC Financing
  • (15:50) - - Why New Construction vs Existing Properties for MLI Select
  • (18:40) - - Introduction to Christine Traynor and Jennifer Champion
  • (20:20) - - Why Alberta is Leading Canada in Real Estate Investment
  • (23:35) - - Edmonton Population Growth and Economic Momentum
  • (27:05) - - Landlord-Friendly Legislation and No Rent Control Advantages
  • (30:20) - - New Construction Multifamily Benefits and Design Flexibility
  • (33:50) - - Partnership Opportunities: The Kensington 20-Unit Project
  • (37:35) - - Eight-Unit Building Opportunities in Edmonton
  • (41:20) - - Investment Requirements and Financing Structure Examples
  • (44:50) - - Q&A: Rent Per Unit Requirements for MLI Select
  • (47:20) - - Q&A: Bedroom Layouts in Eight-Unit Buildings
  • (49:50) - - Q&A: Liquidity Requirements and Equity Considerations
  • (52:20) - - Q&A: Land Acquisition and Development Team Access
  • (54:35) - - Q&A: Ontario vs Alberta Market Comparison
  • (56:50) - - Q&A: Calgary vs Edmonton Market Opportunities
  • (59:05) - - Q&A: Market Saturation Concerns and Competitive Advantages
  • (01:02:20) - - Final Thoughts and How to Get Started with Multifamily Investing

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Creators and Guests

Guest
Scott Dillingham

What is The Wisdom, Lifestyle, Money, Show?

The Wisdom, Lifestyle, Money Show is here to help Canadian's invest better in Canada & the U.S.A. We specialize in mortgage financing and education in both Countries. Discover how to become a better investor and access the financing you need.

Scott Dillingham:

We're gonna be covering essentially what multifamily financing looks like. I'm gonna do high level into this, then we're gonna talk about some deals like we promised and how you guys can make money. Right? And the investment needed and all that good stuff. What is CMHC multifamily financing?

Scott Dillingham:

So there's a couple of programs. So we're mostly gonna be focused on the MLI Select program. This is where you can get up to 95% loan to cost or loan to value, depending if you're buying completed property or if you're constructing it. We can dive into that as well as part of the q and a. But the benefit of this type of financing is you can get up to 95% with a fifty year amortization as long as we score the right points.

Scott Dillingham:

So we're gonna dive into what those points look like. There's also a debt coverage ratio requirement. So they're looking for cash flow to make sure that the property's cash flow. And it's designed to create more affordable housing, okay, across Canada. So this was a Canada wide program.

Scott Dillingham:

Okay? So there's three major parts to the MLI Select if you wanna get that 5%, know, wounded sorry, 5% into the deal, whether it's the construction cost or the the down payment, plus closing costs, and all those other fees. But there's an affordability component, an energy friendly component, and an accessibility component. So with the affordable, ultimately, we can score up to 100 points just in the affordable, depending on the percentage of units that are deemed affordable. So that is you know, it depends on you if it's a new construction property, an existing property.

Scott Dillingham:

So we'll dive into that. But if you don't have a 100 points from that, we can tap into energy efficiency or accessibility. Right? So making the building accessible, or upgrading it, make again, windows, doors, like all that good stuff. There's many different things and facets here.

Scott Dillingham:

So here's pretty much how it works. So depending on how many points that you have for the MLI Select program, that determines your loan to value and your amortization. And again, here you can see LTCLTV. So loan to cost or loan to value. So again, if we get a 100 points, you can get up to 95% up to the fifty year amortization.

Scott Dillingham:

What I really like is it's limited recourse as well. Full recourse loans, you're responsible for all of the risk, but limited recourse, it does take that from you. Bit of an option, which is super cool. Okay? The program does have net worth requirements as well.

Scott Dillingham:

So we have to have typically 25% of the loan, or a minimum of a 100, whatever is greater, and that's again your net worth. So if you're doing a $2,000,000 project, let's say, you have to have at least 25 net worth, or again, the 100 k minimum. So in this case, would need to have a net worth of 500,000. Then there's the liquidity requirements. Right?

Scott Dillingham:

So they want you to have 10% roughly approximate of the purchase price and the development costs to be liquid, because as you're building, right, you you need money for the proper Strauss. So the thing with all these requirements is I don't wanna scare anybody here. I mean, this is why we're setting up this call. It's hard for one individual person to meet all of these requirements. So a lot of times these projects get done as a team.

Scott Dillingham:

Right? So that's why we're gonna show you different things here tonight. Okay? Then there's an experience component. Right?

Scott Dillingham:

I know so many people that are wealthy, have lots of money behind them, but they lack the experience to do these projects. So even though they're well qualified, they actually can't. Right? They have to partner with somebody anyways to get it done. But ultimately, they are looking for experience for these these projects.

Scott Dillingham:

Okay. So LOI select on resale properties is very, very hard to do. Everybody wants to get it at 5% down, but the building needs to get those 100 points to get max leverage and longest amortizations. Right? And on an existing property, it's hard to get that.

Scott Dillingham:

So what we'll often do is a bridge loan, something temporary, turn over the property, and then we'll switch into the MOI Select. But to get it on a purchase, it's very hard to do unless a builder built the property, and it meets the whole program criteria, and then we're moving forward right away. So new properties, obviously, it's easier because we can build it so it meets the specs. And that's why Jen and Christine are here. They're both developers.

Scott Dillingham:

They're gonna discuss this with you. Now there is a standard program as well to CMHC, which doesn't have any of those requirements. No points. No none of that stuff. But it's only up to 85% loan to value, and you can get a forty year amortization.

Scott Dillingham:

Keep that in mind. Here's some comparisons between the rates. Sorry, the programs. And this, these will all be available for the recording, and then it talks about the fees that CMHC charges. These fees get built into the loan.

Scott Dillingham:

So that'll be there. So that's high level. So that's the boring stuff. That's the dry stuff. That's how the program works.

Scott Dillingham:

Obviously, you wanna tap into an expert that specializes in these programs. So that's why we're here. So we do this financing, and then we develop as well. So I'm gonna just put my link up here. So it's right down there.

Scott Dillingham:

If you guys wanna book a call, you can click that. Even if you're watching the replay after, you'll you'll be able to to click that. But that's there for you. So I suggest book a call if you have any financing questions. You'll also be able to book with Christine and Jen here shortly.

Scott Dillingham:

We'll we'll put that up in a second. But that's it. That's the financing. So let's turn over to Jen and Christine. They're mortgage agents, but they're also developers.

Scott Dillingham:

Right? And they're rocking it in this space. Lots of good stuff going on. And I'll let you guys take over.

Christine Traynor:

Thanks, Scott. Hi, everyone. So we're gonna do an overview. Scott's done the financing overview, and we're gonna give you an overview of what we're kind of up to in terms of the investing and development space. We have been focused on Alberta, Canada's most promising province for real estate growth.

Christine Traynor:

We're gonna chat a little bit about economics, population, landlord laws, sort of what's happening in Alberta and Edmonton and why we're focused there, and then we're gonna share some opportunities with you. Let me just see what's happening with the slides here. There we go. So, Scott, I know you didn't introduce yourself. Probably everyone on this call already knows you, but we're gonna do a little introduction.

Christine Traynor:

So for anyone that doesn't know me, my name is Christine Trainer. As Scott said, I'm a mortgage agent on the LensCity team, and I'm also a commercial developer and investor. So I've been investing in the Edmonton market for about the last five years or so. My background in investing extends a lot longer than that. I bought my first property when I was 19, so way back in the day.

Christine Traynor:

And my background is I was a real estate appraiser for about two decades and owned and operated three real estate appraisal firms on Vancouver Island before exiting those businesses to focus on investing and development and commercial mortgages full time.

Jennifer Champion:

Everyone, my name is Jennifer Champion. I am also a mortgage agent with Lend City. I got into real estate investing in 2020. I started investing out in New Brunswick in value add opportunities. And then my husband and I were building duplexes, single family homes, in and around the Victoria market when we lived there.

Jennifer Champion:

And now I primarily focus more on construction, new ads in Alberta as well as Okay.

Christine Traynor:

So Alberta's economic momentum. So I'm sure anyone who's on this call has probably heard about what's or maybe you haven't, but there's been a big shift to investing, especially from other markets in Canada to Alberta. So a lot of investors who had maybe previously been focused on BC and Ontario, have been turning to Alberta in the last and I'm gonna say heavily in the last three or four years. Alberta is leading Canada in economic growth projections, not only just generally, but the real GDP growth is continuing to outperform other provinces. And a lot of people know Alberta's economy as oil and gas.

Christine Traynor:

That was really what it was known for, probably for, you know, many decades. And in the last, you know, five to ten years, they have really been diversifying their economy. So a lot of tech companies coming in, logistics, manufacturing, film, renewables. There's many infrastructure projects happening in Alberta as well, significant ones. And it also has one of the strongest job markets in the country.

Christine Traynor:

Alberta also, excuse me, has higher incomes and lower taxes. So they benefit from no provincial sales tax, lower overall tax taxes than other provinces, and higher disposable income. So that allows for greater consumer spending and stronger housing demand. It's also attracting, like, families and skilled workers, and people are looking at affordability. We've all heard that as BC and Ontario get more and more expensive.

Christine Traynor:

The people are looking to a place where their dollar is gonna go further, and that place is Alberta. The population growth is also unmatched. So for the migration between the provinces, they are leading the way, and they're also attracting a lot of international skilled workers as well as young families who are drawn there for affordability. I think it is the sixth or sorry. Edmonton, which is we're gonna talk about in a sec, is the sixth most most affordable city in Canada.

Christine Traynor:

Alberta also has higher paying jobs, a better quality of life, and they're pro business, pro growth, which is unlike Ontario and BC where there's a lot more red tape. Landlord friendly province. So anyone who has been investing previously in BC or Ontario or continues to, it's such a different, I guess, it's gonna say, like, space in terms of Alberta and how they're landlord friendly. So they have a more efficient eviction process, tenancy rules that are more fair, so in favor of landlord and tenants as opposed to being in favor of tenants in BC and Ontario. And they don't have rent control, so you are able to increase your rent with no cap every year.

Christine Traynor:

So as long as, you know, the the rents are increasing with the market, you can have those conversations with your tenants, which as expenses potentially go up each year, you're able to increase your rents as well. So that that in and of itself reduces the risk and increases your stability as a landlord as well as protecting your capital. So Alberta's real estate advantage. The province offers the ideal mix for wealth building. So high rental demand, limited supply in key markets that we've identified, strong appreciation, high cash flow potential, and more affordable entry pricing.

Christine Traynor:

So we're gonna get into some opportunities in a minute, but the entry price in Edmonton, which is a market that we're investing in and have been investing in, you know, in some cases can be, like, a quarter of of the price of different markets in BC and Ontario. So your investment dollars go a lot further. And in addition, the properties are cash flowing, which a lot of the times is not the case in BC and Ontario. So it has more rentals, which is what the market needs, more multifamily developments, and purpose built projects to support population expansion. So why a new construction?

Christine Traynor:

We've been focused as Scott, said and as we shared, we are developers. And one of the great or a couple great things about new construction as investors is that everything is brand new. So you're not dealing with those heavy repairs and maintenance lines because everything is under warranty for the first, portion of the building's life. There's also some incredible financing opportunities that are available specific to new construction, as Scott mentioned earlier in this call. So it makes them much more attainable and attractive to investors.

Christine Traynor:

And you're able to design your buildings instead of retrofitting, excuse me, an older building. You're able to design them from the beginning to be focused on what that tenant or customer is actually looking for. And we're focused on attracting high quality a plus tenants, and we want our products to I'm sorry, stand out in the marketplace. And we're also able to control the floor plans this way, so we're able to offer a superior product and bring a superior product to the market that is going to have our buildings leased up faster. So why partner with us?

Christine Traynor:

We live and breathe Alberta real estate. Our advantage comes from a strong boots on the ground team. We've got deep market knowledge. We've got construction, development, and financing expertise, a successful track record across multiple projects, and experience navigating municipal requirements and timelines. We have a proven formula for success, which includes strategic site selection, rigorous deal analysis, optimized layouts and design, best in class financing structures, transparent reporting, and end to end management.

Christine Traynor:

So we're gonna share a couple opportunities that we have, available to wrap up 2025 and go into 2026. And these are these are real deals that we have available, and they're also can be looked at as examples of things that we work on. So the first one that you're gonna see here is called the Kensington. It is a 20 unit new construction project in a purpose built community close to close to downtown. It is completing early in 2026.

Christine Traynor:

Purchase price on this one is just under 9,100,000.0, and it qualifies for the CNHC MLI Select 95% financing products that Scott shared earlier on the call. The points are coming from a combination of energy efficiency as well as affordability. So because it's been purpose built for the financing product, we're maximizing everywhere we can there. And in order to access this type of an investment with the MOI Select financing, the minimum net worth requirement is is 2,160,000.00, and minimum liquidity requirement is 865,000. So in something like this, we always kinda keep our options flexible.

Christine Traynor:

We have these types of projects and this one available for either partnering with us, or we have these types of projects available for sale where we would connect you on an opportunity like this if you were someone who was looking to be more active, we would handle everything from, you know, start to finish and then put that together for you, including the financing. Or if you're someone who's looking to be more passive, that's where we partner with people. Some of our investors have all of the capital and liquidity and net worth needed to do something like this on their own. Other times, we're able to put investors together on a specific project where it makes sense and it's aligned. As Scott mentioned, not everyone, you know, can access this on their own, so we do have that as an option.

Christine Traynor:

So that's a 28 unit that's available. And then we also have a couple eight units that we're working on right now. So new construction projects as well. They're completing throughout 2026. Purchase price on '8 units in Edmonton specifically is sort of anywhere from that 2.2 to $2,500,000 range.

Christine Traynor:

Design all of our buildings and projects to fit, again, the CMHC MLI select 95% loan to value or loan to cost. And, again, maximizing points on energy efficiency and affordability. On something like this, a bit of a smaller project, the net worth requirement, is sort of that 500 to $600,000 range, and the minimum liquidity requirement is sort of that $2.10 to $2.40 range. So, again, you know, on these types of projects, it's something that we could partner on or it's something that we could put together, as a full service package. Jen, do you have anything to add as we're kinda nearing kinda the end of our slides?

Christine Traynor:

Like, is there anything to add?

Jennifer Champion:

I think just, you know, really understanding, like, what you're capable of doing on your own and doing that. And then if not, like, it's a great opportunity to come into a project and and partner with strong operators on.

Scott Dillingham:

Yeah. And one thing that I wanna add that's that I think is really cool as well is that in Edmonton specifically, as long as the sizing's correct of the lot, you can obviously build eight units, which is incredible. Where somewhere like Ontario, right, currently it's three. So I think that really allows and magnifies the point where the area, right? They want to double in population.

Scott Dillingham:

Isn't it within ten years they want to double at least?

Christine Traynor:

Yeah. So, yeah, they're focused on doubling the population.

Scott Dillingham:

Yeah. Which is crazy. Right? So if that's their focus, and they're allowing eight units. I mean, it's you can see it's like they're they're actually trying to do that and it makes sense.

Scott Dillingham:

So I think that's really cool too, that you can just do that and you don't need special permits. We do have some questions as well. So I'm gonna see if I can put them on the screen here. So the first question here I don't know if it's loading properly, but it's from Ziyad. So Ziyad is saying, how much rent per unit can be collected on the 95% MOI option?

Christine Traynor:

Yeah. I was gonna say, so it depends on the location. So each location will have a rent set by CMHC, and the rent needs to be at or below that amount. So it it depends. It's location specific.

Christine Traynor:

So for example, in Edmonton, the rent set by CMHC is $16.65. So that's why this product, combining the financing with the new construction product works really well in Edmonton because a one bedroom unit or a one bedroom and den unit and and depending on sizes, you know, two bedroom units are already under that rental amount. So you're not actually as an investor having to discount your rent. Whereas, for example, we've been working on a few projects that just comes to mind in Windsor, and I think it's $8.85 is the affordable rent. So you would have to have your units for affordability $8.85 or lower, but the rent might be, you know, off the top of head, say it's 1,600.

Christine Traynor:

So you're really having to give up, you know, $800 per month per unit, and then your building doesn't cash flow, and the numbers don't make sense. So it's really about that's why we've been focused on Edmonton because it really is a market where you can actually combine the new construction with the financing product for it to make sense.

Scott Dillingham:

I love that. Jamie says in the chat, makes me want to move back to Alberta. Yeah. I mean, it's we got lots of good stuff going on. So this next question's from Moe, and it says, thanks for presenting.

Scott Dillingham:

In the eight unit building, how many bedrooms do we have per unit?

Jennifer Champion:

So for the eight units, we usually set it up as, like, four mains and then four basement suites. So in our main unit, we have three bedrooms, two bath. And then in the lower bedroom suites, we'll either have one bedroom or two bedroom suites.

Scott Dillingham:

Yeah. It's it's pretty cool. I've seen some pictures of the units being done, and I know I know you guys do a good job. And I know one of the things too that I've seen and heard from previous presentations is that you guys, you work with top people that know the best layouts and just different things like that, where a lot of people don't think of that. Right?

Scott Dillingham:

So they jump in on this, but if they're using the wrong layout for the neighborhood or long finishings, right, they're gonna have high higher vacancies. Right? So we don't we don't want that.

Christine Traynor:

Yeah. You you know, was gonna say, Scott, you do end up with higher vacancies. We've seen it with clients that we've worked with on the financing side in Edmonton who, you know, have gone down the path of buying an eight unit building off of MLS, you know, which which which can work, but we've seen where they've had challenges with leasing up their building, with tenant turnover, and with actually getting the rents that were projected in the performance. Because we built a portfolio in Edmonton and we work with a highly vetted team on all facets of it, you know, we know what the rents are. We're not just guessing what, you know, these units in an eight unit or or the 28 unit are gonna go for because we have other buildings in the same locations that we've that we're leasing up on an ongoing basis.

Christine Traynor:

So we're able to use real data as opposed to a projection. So, yeah, that is an advantage for sure.

Scott Dillingham:

Which is awesome. But yeah. No. Great great question, Mal. I'm not sure if there are any other questions.

Scott Dillingham:

I don't see any in the chat right now, but feel free to leave them if you do have questions. So what I'm gonna do too is I'm just going to put up the booking link here. I've seen another question come through. But I'm just putting that up. You can speak to any one of us.

Scott Dillingham:

It's all good. Like, we all connect and work together as a team. But I've got Jen and Christine's booking link there for you guys. So most thing let me see if I can highlight the question. For liquidity, do you accept equity?

Jennifer Champion:

Yeah. So for CMHC, their liquidity requirements are coming from actual, like, cash in your bank account or say, TFSA stocks, unused line of credit. Equity would be contributing towards your net worth and would not be looked at for liquidity. That's a CMHC standard.

Scott Dillingham:

Yeah. But we've had people refinance properties as well. So if it is tied in your equity, we'll do a refinance first, get you cash in the bank, and then we show that for liquidity. So that's an option though. Zied here says, have you guys identified empty parcels of land in Edmonton that would be ideal for these types of developments?

Scott Dillingham:

I'll let you guys cover, but I know the answer is affirmed yet.

Christine Traynor:

Yes. Yes, we have. So the examples that we shared are actual opportunities that we have available, right, that that we're actively working on and properties that we have access to and have either acquired, and are putting together or, you know, have under contract. We have access to an incredible team in Edmonton. Jen actually lives in Edmonton, so she's boots on the ground there.

Christine Traynor:

But we have an incredible team there that, you know, if we're looking for opportunities, we essentially can contact them and say, hey. This is what we're looking for. Here's our parameters. These are the neighborhoods, and we're able to get those pulled together, you know, literally within a week or two. And we've got a really good source on lots as well from multiple people that we work with, and, you know, the building team's all lined up as well.

Christine Traynor:

So everything from, you know, the acquisition of land through to a full lease up, and then, of course, the ongoing management is is all covered.

Scott Dillingham:

So it's super cool. There's even, like, way more projects than this that are ready to go. Like, it's with the with the network that's there. So there's there's all kinds of stuff. So Moe's question says, do you have a team in Ontario for the same project?

Scott Dillingham:

Yes. I live in Ontario, Moe, myself. So that's the cool thing with our team here is we're really Canada wide. We can help you regardless. The thing that Christine stated, however, is that in Ontario, we do have to take a reduction in rents for the affordable, where in Alberta, you don't.

Scott Dillingham:

So just keep that in mind, right, that you you will have to go buy the rents. Now we have a guide that depending on the location, the rents are different. Right? They use different affordable rents per location. So you could be in an area where it's not a huge massive reduction.

Scott Dillingham:

Windsor is a massive reduction in in income. It's like half. Right? Like it's pretty much half of market rents. So keep that in mind.

Scott Dillingham:

But yes, Mo, we covered everywhere. We could do this everywhere. So Mo's in Ottawa. Yeah. We have tons of investors, people we know and work with, part of our network there.

Scott Dillingham:

And they're in Ottawa as we speak. So, yeah, that's not a problem. Jamie is saying, how does Calgary compare to Edmonton in terms of market opportunity?

Jennifer Champion:

Yeah. I think Calgary is like poised to come back. I think they went through a very large like growth and rents got a little out of control. And then they were not achieving those rents, therefore affecting building values. So I think right now, Calgary is just in a very, like, cool market.

Jennifer Champion:

I do think that it will continue to come back strong. Probably 20

Scott Dillingham:

That's awesome. Great question, Jamie. Of course, guys, please keep your questions coming. I have a random political question just for fun while we're waiting here. Is Alberta gonna separate from Canada?

Scott Dillingham:

What do you guys think? No? No. Okay. Good.

Scott Dillingham:

We don't want that.

Christine Traynor:

No. We don't we don't want that. We we wanna be able to compete investing in Alberta as as Canadians.

Scott Dillingham:

Okay. Ziad says, last question. Any concern over saturation of these types of projects in Edmonton?

Jennifer Champion:

That's just a great question that we get a lot. And that's why we really put strong emphasis on location of your project as well as the layout. I recently went and toured some projects on my different builders, and the two bedroom suite were more like one bedroom and, you know, like a very small or a shoebox. You know, like, when a renter opt for a larger, very well laid out, great location. If we're not, we think we're going to go.

Jennifer Champion:

Right? I think as more of these come online, that preplanning process and have it that strong in place is is huge so that your projects are the ones that are being rented and not sitting. Yeah.

Christine Traynor:

I was gonna just add to that too, Jen, exactly what you said is is location and floor plan. And as well, think there's a huge component that gets under looked as the operations. Right? And so I think a lot of people, especially as out of town investors, think no big deal. I'm going to go buy a finished eight unit building and hand it over to a property manager, and it's all going to be rosy.

Christine Traynor:

And, you know, because we are also investors, developers, and work with investors and developers on the financing side, as well as strategically in consultation with them as well. What we see happen is people underestimate, you know, the strength of the operations. Right? And so because we have a, you know, team there that we've built up over the last five years, the property management component is really important down to the, you know, the marketing of getting your units rented and your buildings full. And how are we gonna keep buildings full if there was to be, you know, more product on the market?

Christine Traynor:

Those are all things that we have our finger on the pulse with that I think a lot of people miss. And so where we're getting our buildings leased up, you know, either pre completion or, you know, within, you know, two weeks after taking possession, sometimes we'll see people that are taking, you know, three to four months to fill their units. And and that could be a combination of, you know, not having strong operations, but also, you know, the floor plan. Right? And if tenants do end up having the option to select, you know, multiple places, they're going to pick like, we want our product to be the one that they're gonna pick.

Christine Traynor:

So we have heard concerns over saturation, but I think, you know, we haven't experienced that with our projects because we're being strategic.

Scott Dillingham:

Yeah. And I I will say this too from a financing standpoint. And please take it with a grain of salt because I'm only one, you know, mortgage lender out of probably hundreds of thousands in Canada. But I am getting a lot of requests for people that wanna move to Alberta. Right?

Scott Dillingham:

They're inquiring on potential mortgage penalties or if their loan is portable. Right? So I would say I'm getting that more now than probably I ever have. Some of that's political. Right?

Scott Dillingham:

But that is happening. And then you've got the mandate again with Edmonton specifically wanting to double over the next ten years. Just I don't know. But I do think I do think over time, like, I think we have lots of time, but I think, you know, eventually, right, there's gonna be another market. Maybe it's not Edmonton.

Scott Dillingham:

Maybe it's a new place in Alberta. So we have to see. But right now, Edmonton is the hotspot. It's got a low cost of living. It's really cool.

Scott Dillingham:

Jamie's saying it's never all going to be rosy. Yeah. Absolutely. But you guys have been great. Is there any other questions that anybody anybody has?

Scott Dillingham:

If not, that's okay. You can send them in. You can book a call with Jen and Christine. We'll be able to answer to answer them. So if you book a call, we can get you guys the full performance, and we can send you the full package on each property.

Scott Dillingham:

So if you notice, we didn't do that here. We just presented what's what's around, but we can get you the the full package. It says he's all set. Thank you. Yep.

Scott Dillingham:

You're welcome, Ziyad. Thanks. Thanks for coming. Appreciate everybody here for showing up. The recording will be here if you guys need it.

Scott Dillingham:

But otherwise, if if there's no questions, then we're gonna cut. So we'll give maybe thirty more seconds just to see, and then we'll go from there. But no, it's awesome. And also too, guys, like if you want, still reach out, and we can send you photos of of some of the projects, right, and what's going on so you can see more in-depth. Sunny says, how does the return on the investment look like?

Scott Dillingham:

I think it depends. I think let's, yeah, let's set up a call. Set up a call. We can go over it. Find out your investment horizon, all that good stuff.

Scott Dillingham:

The projects you like. And Jamie says, appreciate it. Thank you. Yeah, you're welcome. Nicholas says, thank you.

Scott Dillingham:

We'll book a call with Christine. Yes. Hi, Nicholas. It's been a while. I hope you're doing well.

Scott Dillingham:

But, yeah, definitely book a call. We can show you guys the pictures, show you the returns and stuff. This is gonna be public, so we can't really post it here. But okay. Well, I think that's it.

Scott Dillingham:

So thank you, Jen. Thank you, Christine. I really appreciate you guys for spending your your valuable time, and coming here and showing us what's what's going on, and what's out there, and for everybody else for for joining and and listening, and we look forward to working with you and going from there. Thank you, guys.

Christine Traynor:

Thanks, Scott. Thanks, everyone.

Scott Dillingham:

No problem. Take care.