Join Dave Knight, Kartik Singla, and Jimmy La as they dive deep into small business growth strategies with Charn, a seasoned CPA with a passion for empowering entrepreneurs. Discover the tools and insights you need to bridge the gap between surviving and thriving.

Understanding the Growth Plateau

Many businesses hit a point where growth seems to stall, despite their best efforts. Charn explains how to recognize the signs that your business has reached this plateau and why it’s crucial to take proactive steps. From evaluating market saturation to reassessing your product or service offerings, Charn provides a roadmap for reigniting growth and taking your business to the next level.

Financial Management Tips

Managing finances is one of the most challenging aspects of scaling a business. Charn shares expert advice on maintaining a healthy cash flow, managing debt, and securing the right kind of funding for expansion. He also emphasizes the importance of understanding your financial statements and how to use them to make informed decisions that will drive sustainable growth.

Building a Resilient Business

The business world is constantly changing, and those who adapt are the ones who thrive. Charn discusses the importance of building a resilient business that can weather economic downturns, industry shifts, and unexpected challenges. He highlights the role of innovation, diversification, and continuous learning in staying ahead of the curve and ensuring long-term success.

Practical Tools for Entrepreneurs

In today’s digital age, having the right tools can make all the difference in how efficiently a business operates. Charn shares his top recommendations for software and resources that can help entrepreneurs streamline their operations, improve productivity, and drive growth. From accounting software to project management tools, these practical solutions are designed to help you focus on what matters most—growing your business.

The Role of Leadership

Scaling a business requires more than just financial acumen and market knowledge; it demands strong leadership and a clear vision. Charn and the hosts discuss the qualities of effective leaders and how they can inspire their teams to achieve greater heights. They explore the importance of setting a clear direction, fostering a positive company culture, and making tough decisions that align with the long-term goals of the business.

Charn Hansra Links:

Website: www.charnhansra.ca
Email: charn@clearhouse.ca

Jimmy La Links:
LinkedIn: https://www.linkedin.com/in/jimmy-la-7188b3a9/?originalSubdomain=ca

Kartik Singla Links:

LinkedIn:https://www.linkedin.com/in/kartik-singla-b6810610/?originalSubdomain=ca

Urban planning might not sound like the most exciting topic, but when you dive into the intricacies of zoning bylaws and public engagement, it’s practically the latest binge-worthy drama series. Enter Alicia Monteith, a planner from Corbett Land Strategies, your go-to expert for navigating the wild world of urban development. She’s here to guide you through the twists and turns of planning approvals, community pushback, and legislative changes with the finesse of a maestro conducting an orchestra.

The Planning Process Unveiled

Planning a development is like planning a heist—minus the balaclavas and getaway cars. Alicia kicks things off by emphasizing the importance of due diligence and pre-consultation with municipalities before you even think about acquiring property. Think of it as your blueprint phase. The types of approvals you’ll need range from minor variances (the easy-peasy stuff) to zoning bylaw amendments (the "buckle up for a long ride" kind).

Missing Middle Development Strategies

Now, let’s talk about the "Missing Middle Development Strategies." Picture this: properties already zoned for your intended use are like finding a cheat code in a video game—fast track to building permits. But if you’re dealing with major amendments, you might as well pack a lunch because it’s going to be a while. Minor variances might take a few months, but official plan amendments could take years. So, patience isn’t just a virtue; it’s a necessity.

Public Engagement and NIMBY Challenges

Ah, the joys of public engagement. It’s like hosting a party where half your guests are thrilled and the other half are complaining about the music. Alicia advocates for proactive communication strategies, such as virtual town halls, to smooth over neighborhood concerns. Transparency and communication are your best friends here, unless you want your project to become the latest victim of NIMBY (Not In My Backyard) syndrome.

The Legislative Rollercoaster: Bill 185

Buckle up, because Bill 185 is here to shake things up. Recent changes include the removal of minimum parking requirements (yay for those major transit station areas) and alterations to appeal rights. No more mandatory pre-consultation requirements and a rollback of refund requirements for municipalities. It’s a whole new world out there, folks, and Alicia’s got the map.

So, whether you’re a seasoned developer or just dipping your toes into the urban planning pool, Alicia Monteith's insights are your golden ticket to navigating the complex maze of urban development. Let’s get building!

Alicia Monteith Links:

Website:https://www.corbettlandstrategies.ca/
LinkedIn: https://www.linkedin.com/posts/alicia-monteith

Ever wondered how to navigate the maze of construction financing while keeping up with the housing market’s wild dance? Well, grab a seat and let’s dive into the fascinating world of construction financing with Robert Liu, VP of Real Estate Finance at CMLS Financial. Liu’s insights will make you wish you’d been taking notes all along!

Key Takeaways:

Meet Robert Liu, the guy who knows the real estate finance game like the back of his hand. CMLS Financial, the third-largest non-bank lender in Canada, is Liu’s playground, where they dabble in nearly $10 billion worth of commercial mortgages. Their secret sauce? A one-stop shop for commercial lending that keeps them busy, with 70% of their loans linked to CMHC programs. That’s right, folks—CMLS is all about making big things happen in the real estate world.

CMHC Programs and Market Trends: Enter CMHC’s MLI Select program, a superhero in the fight against the housing crisis. With a surge in multifamily projects (think $75 to $150 million and 200-400 units), CMHC is here to save the day. From rates based on Canadian Mortgage Bonds to construction loans tethered to prime rates, Liu explains how these programs are a game changer for tackling housing shortages.

Construction Financing and CMHC: Private or CMHC financing—what’s the deal? Liu breaks it down. Timing and rental rates are your new best friends when deciding on financing routes. CMHC’s program is tied to a loan-to-cost ratio, while private financing typically caps out at 75-85%. It’s all about balancing income and debt service ratios when it comes to securing that sweet CMHC takeout financing.

Takeout Financing Process: Planning to build? Start the takeout financing process 6 months before the occupancy permit—because nobody likes last-minute paperwork and surprise fees. Ensure your Certificate of Insurance from CMHC doesn’t expire and remember, stabilized income and debt service ratios are crucial when the time comes to cash out.

Project Feedback and Closing Thoughts: Liu gives a shoutout to SDG’s community engagement tactics. It’s not just about constructing buildings; it’s about connecting with neighbors and keeping track of site improvements. Keep those receipts, folks, and engage with the community. And, of course, maintain transparency with all your stakeholders.

Action Items:

- Keep all receipts for costs incurred before construction

- Engage with CMLS for takeout financing 6 months before expected occupancy

- Consider community engagement and feedback in project development

So there you have it—your crash course in construction financing with a side of humor and practical advice. Time to put these insights to work and maybe impress a few people at your next real estate meeting!

Robert LiuLinks:

Website: https://www.cmls.ca/

Email: robert.liu@cmls.ca

LinkedIn: https://www.linkedin.com/in/robertliu1/

Ready to dive into the world of real estate financing like a pro? Grab your toolkit and a cup of coffee because we’re about to break down some high-value insights in this episode of the Build The Missing Middle Podcast, featuring Ehren Laycock of Finlay Mortgage Team. Whether you’re a first responder looking to build wealth or just someone who enjoys navigating the labyrinth of real estate finance, this episode is your go-to guide for navigating the thrilling world of real estate financing, and trust me, it's packed with juicy tips and insider info!

4 Key Takeaways from the episode:

1. CMHC MLI Select: Your New Best Friend

Imagine lower interest rates and extended amortizations that let you sleep better at night. That’s what CMHC MLI Select offers—think of it as your real estate BFF with benefits! With rates around 4.65% (compared to the 7.5% banks are throwing around), you’re looking at a hefty savings and a much easier ride. Just remember, a well-balanced team is crucial to avoid those pesky budget overruns and permit snafus.

2. Assembling Your Dream Team

You wouldn’t build a skyscraper without an architect, right? The same goes for your real estate projects. From savvy realtors to sharp mortgage brokers and ace contractors, having a crew that knows their stuff can make or break your success. It’s like having an Avengers team but for construction—minus the capes.

3. Financing 101: Documentation and Strategy

Ready to impress those mortgage brokers? Make sure you’ve got your personal network statement and up-to-date corporate financials in hand. And don’t forget the 15-20% capital reserve for your construction budget. It’s like having a safety net for your financial trapeze act. Newbie or pro, being upfront about your financial situation will get you the best deals and smoother processing.

4. Future Goldmine: Missing Middle Housing

Here’s the scoop: rezoning allowances for up to 4-6 units per lot are on the horizon. It’s a golden opportunity for mid-level investors to jump into the development game and rack up some serious returns. Think of it as the latest real estate craze—like avocado toast but for property investments.

Action Items:

- Get Your Docs in a Row: Before you charm those mortgage brokers, ensure you’ve got your personal and corporate financials ready.

- Build Your Capital Reserve: Aim for 15-20% of your budget in reserves for those unexpected construction curveballs.

- Consult the Pros: Book a call with a mortgage broker and explore all your financing options to make the most of your investment journey.

Tune in to the podcast, take these tips to heart, and watch your real estate ventures soar!

Ehren Laycock Links:

Instagram: @laycock22

If you're into real estate development, chances are you've faced a few challenges. And if you haven't, then Darren Voros is here to give you a reality check. In the recent episode of the Build The Missing Middle Podcast, Darren, an experienced real estate investor and developer, shared his wisdom on navigating the wild world of development projects. From the concrete jungle of Toronto to the sunny shores of Costa Rica, he's done it all. And he's got a few stories—and strategies—to share.

Without further ado, here are 8 Pro Tips from Darren's interview that could save your next project from turning into a financial horror show! 🎢

1. Start Small, Dream Big

Darren kicked things off by reminiscing about his humble beginnings with duplex conversions and triplexes. Fast forward five years, and he's now juggling 8-10 unit buildings in the heart of Toronto. Oh, and did we mention his projects in Hamilton, Kitchener, and even Costa Rica?

2. Bill 23: The Plot Twist You Didn't See Coming

Just when you thought municipal requirements couldn't get any trickier, along comes Bill 23. Darren breaks down how this bill impacts development processes and how to dodge the dreaded site plan approval for projects under 10 units.

3. The $45,000 Question

High development charges in Toronto can leave your wallet feeling lighter than a helium balloon. Darren highlights the staggering $45,000 per unit fee, plus additional costs like park levies and education charges. Before you even lay a brick, you're staring down a $1.5 million bill for a 20-unit project.

4. CMHC to the Rescue

In today's market, CMHC programs are like the superheroes of financing. Darren emphasizes the importance of these programs and the need for more efficient municipal processes.

5. The A-Team

Building a knowledgeable team isn't just a nice-to-have—it's essential. Darren swears by learning from experienced developers and assembling a crew that can tackle any challenge thrown their way. Think Ocean's Eleven, but with more hard hats and fewer heists.

6. 'As of Right' Zoning: The Fast Track

To avoid lengthy approval processes, focus on 'as of right' zoning. Darren explains how understanding end values (rents) before land acquisition and accurately estimating construction costs can make or break your project.

7. Construction Hacks

Who needs common staircases and fire alarm systems anyway? Darren suggests moving away from walk-up apartments to individual entrances and focusing on 3-story buildings to avoid elevator and sprinkler system requirements. Talk about cutting costs without cutting corners!

8. CMHC Financing: The Real Deal

Understanding CMHC financing requirements is crucial, especially for new developers. Darren's pipeline includes 60-70 units plus a massive 205-unit project in Hastings. It's all about knowing the game and playing it right.

So, there you have it—Darren Voros's masterclass on real estate development. With these tips in your toolbox, you're ready to tackle your next project like a pro. Just remember, it's all about the team, the timing, and, of course, avoiding those pesky development charges!

Darren Voros Links:

Instagram: darren.voros

Website: www.darrenvoros.com

In the latest episode of the Build The Missing Middle Podcast, Adam Altobelli, president of GeoFocus Group, shares the nitty-gritty of managing troubled construction projects. And trust me, it's not all just bricks and mortar—it's also about the people, the money, and a bit of magic in balancing all the chaos. Whether you're into multifamily units or industrial/commercial/industrial (ICI) sectors, Adam's got some golden nuggets to share.

5 Tips for Construction Success. So, grab your hard hat, and let's hammer out these five tips for turning your construction woes into wins! 🛠️

1. Assemble Your A-Team

You know those movie scenes where the hero puts together a crack team for an impossible mission? That’s your construction project. Availability, the best personnel, and clear communication are your ABCs. Early engagement of a construction manager is like having your own Gandalf guiding you through the Mines of Moria—don't skip this step!

2. Design with Dollars in Mind

Balancing a developer's vision with what's actually doable is like trying to fit an elephant into a Mini Cooper. Efficient design isn't just a luxury—it's a necessity. Consider 3-story, wood-frame construction for missing middle projects and decentralized mechanical systems to make maintenance a breeze. Trust Adam; your future self will thank you.

3. Navigate the Market Maze

Ever felt like you're playing a game of SimCity but with real money? Understanding local municipalities, hot markets like St. Thomas and Niagara Falls, and the trends towards purpose-built rentals can turn the game in your favor. And don't forget the CMHC MLI Select program—financing has never been this user-friendly!

4. Contract Clarity

Different types of construction contracts (CCDC 2, CCDC 5A, CCDC 5B) are like different flavors of ice cream—each suited for a specific palate (or project). Like-mindedness in team building and transparent processes can mean the difference between a successful project and one that leaves a sour taste in everyone's mouth.

5. Holistic Approach to Success

Imagine trying to build a skyscraper with a single blueprint page—it’s not happening. A holistic approach, considering everything from site selection to post-construction, is crucial. Adam’s advice? Think big picture but don’t overlook the details. Your project is an orchestra, and you’re the conductor.

Ready to take your construction project from a headache to a highlight reel? With Adam Altobelli’s insights, you're well on your way to building success, one brick at a time!

Adam Altobelli Links:

Website: www.thegeofocusgroup.com

LinkedIn: https://www.linkedin.com/in/adamaltobelli/?originalSubdomain=ca

Instagram: thegeofocusgroup