{"video_id":"fp_Nwsbfj18mT","title":"Livestream VOD – October 19, 2024 @ 24:54 – Do We Have To Move Again? - WAN Show October 18, 2024","channel":"Linus Tech Tips","show":"Linus Tech Tips","published_at":"2024-10-19T02:06:00.041Z","duration_s":8183,"segments":[{"start_s":0.0,"end_s":2.0,"text":"My arms didn't fit in the shirt","speaker":null,"is_sponsor":0},{"start_s":19.0,"end_s":23.0,"text":"Hello Hi","speaker":null,"is_sponsor":0},{"start_s":27.28,"end_s":33.6,"text":"Great performance. Thank you. Thank you. Yeah, thank you. I took I took one semester in grade eight of drums. I'm pretty good","speaker":null,"is_sponsor":0},{"start_s":36.88,"end_s":42.28,"text":"Yeah, I Actually really liked it used to practice at home all the time","speaker":null,"is_sponsor":0},{"start_s":43.2,"end_s":50.32,"text":"But my teacher kept me on just the snare drum and I wanted to start doing full set because I was by a long shot","speaker":null,"is_sponsor":0},{"start_s":50.32,"end_s":54.0,"text":"The best drummer that we had in that class. So I was like, let me you know","speaker":null,"is_sponsor":0},{"start_s":54.6,"end_s":59.92,"text":"Let me spread my wings a little bit. Let me give it her. Let me give her and she just would not let me do it","speaker":null,"is_sponsor":0},{"start_s":59.92,"end_s":64.6,"text":"No matter what I was I was completely mastering all the tasks that she had us do with the snare drum","speaker":null,"is_sponsor":0},{"start_s":64.6,"end_s":71.84,"text":"And I was like I literally am bored Please let me do full side. Just nope never let me do it. And I was just like I hate the teacher","speaker":null,"is_sponsor":0},{"start_s":71.84,"end_s":75.96,"text":"I'm not taking this again Bailed out. I liked it a lot, but just got them","speaker":null,"is_sponsor":0},{"start_s":77.28,"end_s":80.96,"text":"Didn't do it Okay","speaker":null,"is_sponsor":0},{"start_s":80.96,"end_s":86.48,"text":"Let's just do it. Is that a microfiber shirt? You got some dirty glasses. Whoops. Uh, oh","speaker":null,"is_sponsor":0},{"start_s":86.84,"end_s":91.0,"text":"Rub your face on the shirt. It'll be great. Nice. Okay. Here we go","speaker":null,"is_sponsor":0},{"start_s":92.16,"end_s":94.16,"text":"Do you think she just didn't snare?","speaker":null,"is_sponsor":0},{"start_s":95.76,"end_s":98.64,"text":"This is slang I'm not familiar with. Care snare. Oh","speaker":null,"is_sponsor":0},{"start_s":100.08,"end_s":105.04,"text":"You that's a breach I","speaker":null,"is_sponsor":0},{"start_s":106.48,"end_s":110.52,"text":"Know it wasn't me it wasn't me there's karate swan","speaker":null,"is_sponsor":0},{"start_s":118.6,"end_s":120.6,"text":"Where are the mod mats","speaker":null,"is_sponsor":0},{"start_s":121.6,"end_s":128.48,"text":"Um in shipping I think speaking of where are the mod mats the the tall shirts sold out. Yeah","speaker":null,"is_sponsor":0},{"start_s":129.28,"end_s":133.28,"text":"We'll get more. Okay, I'm resuming the select a good job, everybody","speaker":null,"is_sponsor":0},{"start_s":139.28,"end_s":143.6,"text":"Look at the drums teacher from whiplash honestly Oh","speaker":null,"is_sponsor":0},{"start_s":158.0,"end_s":163.88,"text":"What's up everyone and welcome to the wancho we've got a fantastic show lined up for you guys today","speaker":null,"is_sponsor":0},{"start_s":163.88,"end_s":168.48,"text":"Yeah, I forget what our headline topic was so I guess Luke's gonna take it","speaker":null,"is_sponsor":0},{"start_s":169.44,"end_s":171.76,"text":"This is wild a","speaker":null,"is_sponsor":0},{"start_s":172.68,"end_s":176.48,"text":"US appeals court has sided with music publishing giants","speaker":null,"is_sponsor":0},{"start_s":177.04,"end_s":182.96,"text":"Saying that isp's should refuse service to users who are suspected of piracy","speaker":null,"is_sponsor":0},{"start_s":183.6,"end_s":188.32,"text":"Someone's gonna get their parents pretty mad in other news your vacuum is watching you and","speaker":null,"is_sponsor":0},{"start_s":190.84,"end_s":197.2,"text":"Blasting out racial epithets. Oh, oh, yeah. No, it's a whole thing. I didn't know that far","speaker":null,"is_sponsor":0},{"start_s":197.2,"end_s":203.52,"text":"Yeah, no, it's it's it's not good. Oh boy. No manufacturer thinks it's okay, but no one else does","speaker":null,"is_sponsor":0},{"start_s":204.16,"end_s":208.96,"text":"Speaking of things that are bad in some ways. Are we moving?","speaker":null,"is_sponsor":0},{"start_s":211.92,"end_s":217.92,"text":"We moving we could talk about the feasibility of that. Yeah, also you can talk to your dog now","speaker":null,"is_sponsor":0},{"start_s":218.88,"end_s":223.52,"text":"Yeah, you can talk you can talk to your dog. You're not your dog with AI","speaker":null,"is_sponsor":0},{"start_s":227.2,"end_s":229.2,"text":"You","speaker":null,"is_sponsor":0},{"start_s":245.2,"end_s":248.72,"text":"The show is brought to you today by acronis Squarespace","speaker":null,"is_sponsor":0},{"start_s":248.72,"end_s":254.56,"text":"MSI and of course our chair partner secret lab our laptop partner LG and our wrap partner","speaker":null,"is_sponsor":0},{"start_s":254.88,"end_s":259.28,"text":"D brand who wrapped our table and wrapped my phone and wrapped","speaker":null,"is_sponsor":0},{"start_s":260.64,"end_s":262.64,"text":"Yeah, yeah, they just wrap things","speaker":null,"is_sponsor":0},{"start_s":264.0,"end_s":269.76,"text":"They don't like they don't like melodious singing. They've never wrapped to you. They just wrap. Wow","speaker":null,"is_sponsor":0},{"start_s":270.72,"end_s":275.52,"text":"Nice does rap not have melodies. Nice. I mean, yeah, I can oh, that's not the point the point","speaker":null,"is_sponsor":0},{"start_s":276.72,"end_s":283.76,"text":"Is that Luke thought this was the headline topic which I find actually really interesting because it's interesting to me","speaker":null,"is_sponsor":0},{"start_s":284.72,"end_s":289.36,"text":"We've we've kind of we've kind of you want to you want to should I pull back the curtain and let them know","speaker":null,"is_sponsor":0},{"start_s":289.36,"end_s":296.88,"text":"Why I thought this would be a good headline topic What's the point of even having curtains anyway, right? Do they even match the carpet like just","speaker":null,"is_sponsor":0},{"start_s":298.32,"end_s":302.32,"text":"Not right now Um, I mean same","speaker":null,"is_sponsor":0},{"start_s":304.0,"end_s":306.0,"text":"Wow, this was quick, um","speaker":null,"is_sponsor":0},{"start_s":307.44,"end_s":312.16,"text":"And goodbye rails Oh","speaker":null,"is_sponsor":0},{"start_s":312.4,"end_s":314.4,"text":"Anyways, no, it just seemed clicky","speaker":null,"is_sponsor":0},{"start_s":315.44,"end_s":322.0,"text":"Okay, it's also like an actual discussion. Yeah. Well, that was it. That was your curtain pulling back. Yeah","speaker":null,"is_sponsor":0},{"start_s":322.8,"end_s":328.32,"text":"Cheese it seemed clicky remind me not to camp outside of your apartment with binoculars because I'm not going to see anything","speaker":null,"is_sponsor":0},{"start_s":330.64,"end_s":334.0,"text":"Okay, apparently I'd see some stuff","speaker":null,"is_sponsor":0},{"start_s":334.56,"end_s":336.56,"text":"Yeah","speaker":null,"is_sponsor":0},{"start_s":338.16,"end_s":344.24,"text":"So what I told Luke we could do on the show what I said we could do was we could go through the","speaker":null,"is_sponsor":0},{"start_s":344.72,"end_s":348.08,"text":"exercise of why it's really difficult for us to move because","speaker":null,"is_sponsor":0},{"start_s":348.56,"end_s":350.56,"text":"It's been a pain point for us for","speaker":null,"is_sponsor":0},{"start_s":351.68,"end_s":355.44,"text":"Basically the last probably three years since we got the lab","speaker":null,"is_sponsor":0},{"start_s":355.68,"end_s":362.88,"text":"We've known that we were growing out of this space that we're in right now, which is the old everything, you know studio office","speaker":null,"is_sponsor":0},{"start_s":363.44,"end_s":367.92,"text":"So we we expanded on the one side. We expanded on the other side. We hit a wall there","speaker":null,"is_sponsor":0},{"start_s":368.0,"end_s":371.76,"text":"There's a neighbor that's not selling. So that's it that this is where we are here","speaker":null,"is_sponsor":0},{"start_s":371.76,"end_s":376.24,"text":"And then we expanded to another unit elsewhere in our complex for a creator warehouse","speaker":null,"is_sponsor":0},{"start_s":376.64,"end_s":381.36,"text":"Who handles all the merch? um, and then finally we we were like, okay, well","speaker":null,"is_sponsor":0},{"start_s":382.0,"end_s":389.76,"text":"This is it. We either Need to kind of separate our operations and have different departments and different buildings kind of like we did with creator warehouse","speaker":null,"is_sponsor":0},{"start_s":390.24,"end_s":397.28,"text":"Or we need to consolidate into one gigantic building and the gigantic building was","speaker":null,"is_sponsor":0},{"start_s":398.0,"end_s":404.08,"text":"going to be really really expensive not just because it's expensive to buy a building but because","speaker":null,"is_sponsor":0},{"start_s":404.4,"end_s":409.92,"text":"The building you're going to get is going to cost an absolute fortune to build out the way that we do","speaker":null,"is_sponsor":0},{"start_s":410.16,"end_s":416.72,"text":"And there just aren't actually really that many buildings at that size is what I said back then","speaker":null,"is_sponsor":0},{"start_s":417.28,"end_s":422.8,"text":"Oh, is the market has softened a lot here in vancouver. I mean, there's","speaker":null,"is_sponsor":0},{"start_s":424.56,"end_s":428.72,"text":"Remember i'm talking industrial. I'm talking commercial. It's right still","speaker":null,"is_sponsor":0},{"start_s":429.36,"end_s":434.16,"text":"Well, well, let's have a look. Okay. Let's go through the exercise that I go through every time","speaker":null,"is_sponsor":0},{"start_s":434.32,"end_s":437.84,"text":"I'm looking at commercial real estate and I'll talk about some of the things that can be","speaker":null,"is_sponsor":0},{"start_s":438.32,"end_s":445.68,"text":"Uh, really sort of appealing and some of the things that can be really challenging and why it's so hard to find something","speaker":null,"is_sponsor":0},{"start_s":446.0,"end_s":454.24,"text":"That's the right fit For some context for viewers to write like we have if you if you think about the production team for videos","speaker":null,"is_sponsor":0},{"start_s":454.72,"end_s":460.32,"text":"That is pretty fragmented right now Literally, none of the teams that might work together are actually close to each other","speaker":null,"is_sponsor":0},{"start_s":460.72,"end_s":468.4,"text":"Even if it's writing in Labs You're at opposite ends of the building and there's a big set of stairs and many sets of doors in between","speaker":null,"is_sponsor":0},{"start_s":468.64,"end_s":472.64,"text":"And it's very likely if you're going through those doors. You're disturbing somebody in some department","speaker":null,"is_sponsor":0},{"start_s":473.2,"end_s":479.52,"text":"So it's like not really that small of a walk if you're either Labs or writing and you're talking to editing","speaker":null,"is_sponsor":0},{"start_s":479.6,"end_s":482.8,"text":"Well, I mean that's now a 10 minute walk or a two minute drive","speaker":null,"is_sponsor":0},{"start_s":483.36,"end_s":489.36,"text":"Um, how do we solve this? Well, the lego pieces don't really click together very well","speaker":null,"is_sponsor":0},{"start_s":489.84,"end_s":493.04,"text":"Um, there isn't a lot of office space in the Labs building","speaker":null,"is_sponsor":0},{"start_s":493.28,"end_s":499.28,"text":"There isn't enough space in general in the in the studio buildings. Yeah parking is a nightmare at either one of them","speaker":null,"is_sponsor":0},{"start_s":499.68,"end_s":504.16,"text":"it's just like Okay, anyways","speaker":null,"is_sponsor":0},{"start_s":504.24,"end_s":513.36,"text":"now in fairness to us It did look like the best solution for expansion at the time because building out something the way that sort of","speaker":null,"is_sponsor":0},{"start_s":514.72,"end_s":521.2,"text":"I expect us to do it for our team is really really expensive and that adds a lot to the cost of","speaker":null,"is_sponsor":0},{"start_s":521.68,"end_s":526.96,"text":"Sort of abandoning what we've got here and then consolidating somewhere else for example in the lower mainland","speaker":null,"is_sponsor":0},{"start_s":527.04,"end_s":533.04,"text":"So in in our area it is Way abnormal basically unheard of unless you are","speaker":null,"is_sponsor":0},{"start_s":533.92,"end_s":538.56,"text":"Like a food distribution company to have hVAC in your warehouse","speaker":null,"is_sponsor":0},{"start_s":539.12,"end_s":546.96,"text":"So the fact that we have heat yes, because you know, you can't it can't be so cold that devices stop working properly or whatever","speaker":null,"is_sponsor":0},{"start_s":547.12,"end_s":552.72,"text":"But having air conditioning in in a warehouse space pretty much unheard of in this area","speaker":null,"is_sponsor":0},{"start_s":552.88,"end_s":559.92,"text":"Yeah, whereas all of our warehouse spaces are heated and cooled so that you know, because we're not really using them in a","speaker":null,"is_sponsor":0},{"start_s":560.0,"end_s":564.08,"text":"warehouse capacity and we don't really have like just","speaker":null,"is_sponsor":0},{"start_s":564.08,"end_s":568.16,"text":"Warehouse, I mean, I don't know. I say that we don't just have warehouse people working in them","speaker":null,"is_sponsor":0},{"start_s":568.16,"end_s":572.48,"text":"But that honestly, I don't think that's a good excuse either. I think warehouses should probably be climate controlled","speaker":null,"is_sponsor":0},{"start_s":572.48,"end_s":576.96,"text":"Sometimes like uh, like if you're a forklift driver, you might have like a fan mounted on the forklift","speaker":null,"is_sponsor":0},{"start_s":577.04,"end_s":580.0,"text":"Sure, but like that like that doesn't make you blows","speaker":null,"is_sponsor":0},{"start_s":583.36,"end_s":588.64,"text":"Nice, um, basically what I'm trying to say is I don't really care who you are or how much money you make","speaker":null,"is_sponsor":0},{"start_s":588.72,"end_s":592.4,"text":"You're you're worth air conditioning when it's cooked when we have things called heat domes","speaker":null,"is_sponsor":0},{"start_s":593.12,"end_s":601.6,"text":"And you're in a big metal box It'd be nice to be able to cool now in fairness to a lot of the the building owners and business owners in the Vancouver area","speaker":null,"is_sponsor":0},{"start_s":601.92,"end_s":605.52,"text":"It hasn't really been a problem until probably about the last five or six years","speaker":null,"is_sponsor":0},{"start_s":606.0,"end_s":611.36,"text":"Like we used to have like one hot week a freaking summer and so whatever","speaker":null,"is_sponsor":0},{"start_s":611.36,"end_s":615.92,"text":"We're going to install tens sometimes hundreds of thousands of dollars worth of air conditioning for like that one week","speaker":null,"is_sponsor":0},{"start_s":616.16,"end_s":622.64,"text":"No, probably not, but um We've made the plunge which means that any building we move into we have to you know","speaker":null,"is_sponsor":0},{"start_s":622.64,"end_s":625.84,"text":"Put stuff like that into it which adds a lot to the buildout cost","speaker":null,"is_sponsor":0},{"start_s":625.84,"end_s":630.56,"text":"So, uh, let's take a look and let's let's talk about you know, some of some of the challenges that we run into so","speaker":null,"is_sponsor":0},{"start_s":631.2,"end_s":636.64,"text":"Colliers is one of the sites that you know, probably makes sense to use if you're looking for commercial real estate","speaker":null,"is_sponsor":0},{"start_s":636.8,"end_s":639.68,"text":"Sure, let's have a look. Oh, oh, there's the","speaker":null,"is_sponsor":0},{"start_s":640.4,"end_s":644.64,"text":"Look at this. See this is what i'm talking about luke when I would have pulled up this map","speaker":null,"is_sponsor":0},{"start_s":645.76,"end_s":650.48,"text":"Let's say let's say two years ago. That would have been nothing there would have been flipping","speaker":null,"is_sponsor":0},{"start_s":651.12,"end_s":655.44,"text":"This is such a terrible interface. Can you guys like be slightly","speaker":null,"is_sponsor":0},{"start_s":658.24,"end_s":663.68,"text":"Yeah, I have always thought like, you know, if we could if we could go back and instead of making Floatplane","speaker":null,"is_sponsor":0},{"start_s":663.68,"end_s":670.48,"text":"We should just made like realty software. I know right they pay so much for it and it's so bad","speaker":null,"is_sponsor":0},{"start_s":672.24,"end_s":678.96,"text":"It's kind of crazy freaking wild. Okay. So this is kind of the area that we'd be looking at","speaker":null,"is_sponsor":0},{"start_s":678.96,"end_s":686.4,"text":"So here's where the office is now Um, and most of the team is living in you know, kind of these are the urban centers","speaker":null,"is_sponsor":0},{"start_s":686.4,"end_s":690.64,"text":"You can tell from the the white instead of the green green is like for grass and trees and whatnot","speaker":null,"is_sponsor":0},{"start_s":691.04,"end_s":694.24,"text":"So you're gonna have people living in kind of maple ridge kind of Langley","speaker":null,"is_sponsor":0},{"start_s":694.88,"end_s":703.04,"text":"Uh, not too many people down in south Surrey just because that's like the bougie area of the not the actual city city over here","speaker":null,"is_sponsor":0},{"start_s":703.36,"end_s":709.36,"text":"That's like the the bougie burb Oh wait, you mean like, uh, potentially like employees or would you? Yeah, yeah","speaker":null,"is_sponsor":0},{"start_s":710.0,"end_s":719.2,"text":"So there's a bunch of people in south Surrey. It's just really expensive. Yeah I'm talking about like where people who commute to this office here are generally going to be coming from","speaker":null,"is_sponsor":0},{"start_s":719.52,"end_s":723.12,"text":"Little bit of Coquitlam little bit of Burnaby a little bit of like further west","speaker":null,"is_sponsor":0},{"start_s":723.44,"end_s":733.04,"text":"But the more we were to move an office Kind of this way into Burnaby marine drive or like Richmond or something like that the more expensive housing is going to get","speaker":null,"is_sponsor":0},{"start_s":733.6,"end_s":739.84,"text":"Um, so we have found that yeah that too. Uh, so we found that this is a this is a pretty good middle ground","speaker":null,"is_sponsor":0},{"start_s":739.92,"end_s":743.28,"text":"If we could be more like here that might be more better, but","speaker":null,"is_sponsor":0},{"start_s":743.76,"end_s":748.0,"text":"Okay, let's uh, so let's you're very nicely close to the highway just to give some people some context there","speaker":null,"is_sponsor":0},{"start_s":748.24,"end_s":752.72,"text":"Yeah, the the this is canada's only road. Yeah, this is the trans canada highway","speaker":null,"is_sponsor":0},{"start_s":752.8,"end_s":759.6,"text":"That's that's the road everyone memes about when they're talking about canada. Yeah, so being close to that is generally efficient for most people","speaker":null,"is_sponsor":0},{"start_s":760.32,"end_s":766.64,"text":"Okay, so let's let's have a look. Uh, this is this is what's in this area. This is hilarious. The first one that comes up is of course","speaker":null,"is_sponsor":0},{"start_s":767.52,"end_s":776.8,"text":"The court ordered sale for the uh, yeah The aspirational mall in Surrey, so wait new linds is for sale. Yeah new linds golf and country club is for sale","speaker":null,"is_sponsor":0},{"start_s":776.8,"end_s":779.12,"text":"What dude? Okay. What if?","speaker":null,"is_sponsor":0},{"start_s":781.6,"end_s":784.72,"text":"What if we what if we could bring like telemetry","speaker":null,"is_sponsor":0},{"start_s":785.36,"end_s":791.36,"text":"Golfing data and like what if we made a high tech golf course? Okay, luke and had an office there get this","speaker":null,"is_sponsor":0},{"start_s":791.92,"end_s":797.04,"text":"the combined The combined estimated value of creator warehouse","speaker":null,"is_sponsor":0},{"start_s":797.52,"end_s":804.4,"text":"The studio and the lab is probably in the neighborhood of around 25 to 30 million dollars","speaker":null,"is_sponsor":0},{"start_s":804.88,"end_s":809.76,"text":"Okay, okay Get this how much do you think new linds golf and country club is worth?","speaker":null,"is_sponsor":0},{"start_s":810.32,"end_s":817.68,"text":"It is 111 acres 100 with 90,000 square feet of building to put this for some context","speaker":null,"is_sponsor":0},{"start_s":818.08,"end_s":823.36,"text":"We're in about 40,000 square feet combined. What do you think new linds golf and country club is worth?","speaker":null,"is_sponsor":0},{"start_s":823.68,"end_s":829.84,"text":"That's like pretty nice building and there's like kitchen on site. I'm assuming that has a cost. I'm assuming they're not just ripping that out","speaker":null,"is_sponsor":0},{"start_s":830.8,"end_s":835.92,"text":"I Know I'm not gonna look at chat. Yeah, don't look at chat. Don't look at chat. They're gonna help you cheat","speaker":null,"is_sponsor":0},{"start_s":836.72,"end_s":845.44,"text":"My first hunch is like 350 350 what mill 350 mill really try 40 40 what?","speaker":null,"is_sponsor":0},{"start_s":846.4,"end_s":854.32,"text":"So, what do you think we move LMG? Let's buy new linds to new linds golf and country club wait. How is it actually is there something going on with it?","speaker":null,"is_sponsor":0},{"start_s":855.04,"end_s":860.32,"text":"Dude, I have no idea because how is it multiple times bigger than ours the facilities are like really nice","speaker":null,"is_sponsor":0},{"start_s":864.16,"end_s":867.2,"text":"Oh, man, what how is it so cheap? I have no idea","speaker":null,"is_sponsor":0},{"start_s":867.52,"end_s":873.44,"text":"So so there's there's like look like I said there's some stuff going on in the vancouver area right now","speaker":null,"is_sponsor":0},{"start_s":873.52,"end_s":880.72,"text":"How do you get 112 acres some of the big money? I think is moving is it zoning is moving out?","speaker":null,"is_sponsor":0},{"start_s":880.96,"end_s":891.44,"text":"Okay, so we'll talk about that Some of the big money though is moving out of vancouver real estate because of some of the recent changes that the trudeau administration has made to","speaker":null,"is_sponsor":0},{"start_s":892.24,"end_s":896.8,"text":"the way that Taxes on capital gains work","speaker":null,"is_sponsor":0},{"start_s":896.8,"end_s":903.36,"text":"So there has been like an emergency fire sale of some very high value assets","speaker":null,"is_sponsor":0},{"start_s":903.6,"end_s":910.32,"text":"And there's only so many buyers for up 40 million so for context that's about 30 million us dollars","speaker":null,"is_sponsor":0},{"start_s":910.88,"end_s":914.8,"text":"A little less like 29 or something like that golf-pond cooled computer","speaker":null,"is_sponsor":0},{"start_s":915.44,"end_s":923.52,"text":"right How fun would that be gaming pc in your golf cart? We could overclock one of the oh, no you don't do that with golf never much","speaker":null,"is_sponsor":0},{"start_s":924.48,"end_s":926.72,"text":"Okay, I was thinking baseball like when it shoots the","speaker":null,"is_sponsor":0},{"start_s":927.6,"end_s":933.04,"text":"So yeah, so part of this is that it does seem like there is there's a bit of","speaker":null,"is_sponsor":0},{"start_s":933.6,"end_s":939.12,"text":"There's a bit of bubble bursting going on. Yeah, I think that part of it is a demographic shift","speaker":null,"is_sponsor":0},{"start_s":939.36,"end_s":945.84,"text":"so you've got a Because realistically i'm probably one of the only people in my cohort that is like","speaker":null,"is_sponsor":0},{"start_s":946.48,"end_s":952.0,"text":"Running a small to medium, you know like like a business of this size","speaker":null,"is_sponsor":0},{"start_s":952.32,"end_s":956.0,"text":"Yeah, you know most of the businesses in our area are run by boomers","speaker":null,"is_sponsor":0},{"start_s":956.72,"end_s":960.96,"text":"And what's happening with boomers? They're retiring","speaker":null,"is_sponsor":0},{"start_s":960.96,"end_s":967.36,"text":"Right, so when you retire you either are looking to sell your your your business","speaker":null,"is_sponsor":0},{"start_s":967.92,"end_s":971.44,"text":"And retain the asset and keep collecting rent from it as like your pension","speaker":null,"is_sponsor":0},{"start_s":971.92,"end_s":976.32,"text":"Or you're looking to sell the building take a big bucket of cash","speaker":null,"is_sponsor":0},{"start_s":976.88,"end_s":980.48,"text":"Spend it on you know some other crap give it give some of it to your kids","speaker":null,"is_sponsor":0},{"start_s":981.04,"end_s":985.28,"text":"Spend some of it on like a lakefront property over on the island, you know, whatever you want","speaker":null,"is_sponsor":0},{"start_s":985.28,"end_s":990.24,"text":"You want the big bucket of cash and then you keep running the business for your pocket money instead of hookers and blow","speaker":null,"is_sponsor":0},{"start_s":990.24,"end_s":992.24,"text":"It's like cruise ships and painkillers","speaker":null,"is_sponsor":0},{"start_s":994.56,"end_s":996.56,"text":"Sorry","speaker":null,"is_sponsor":0},{"start_s":999.36,"end_s":1004.48,"text":"That's good Or you're selling both pieces and you're just like screw it","speaker":null,"is_sponsor":0},{"start_s":1004.48,"end_s":1007.68,"text":"This is so much of a nest egg that i'm a sit on this nest egg forever","speaker":null,"is_sponsor":0},{"start_s":1007.76,"end_s":1011.36,"text":"Yeah, yeah, yeah So I think there's some of that happening as well","speaker":null,"is_sponsor":0},{"start_s":1011.6,"end_s":1018.08,"text":"And then the other big one that you already touched on is zoning. So this right here. Why am I on that?","speaker":null,"is_sponsor":0},{"start_s":1019.52,"end_s":1024.24,"text":"This is this is zoned essentially for operating as","speaker":null,"is_sponsor":0},{"start_s":1025.04,"end_s":1029.52,"text":"A golf course. Yeah, so I didn't think but because I was I was trying to think of the acreage because the","speaker":null,"is_sponsor":0},{"start_s":1029.84,"end_s":1034.0,"text":"That amount of acreage here if you turn that into five-story walk-ups","speaker":null,"is_sponsor":0},{"start_s":1035.6,"end_s":1043.2,"text":"Infinite money Oh for sure and to be clear there is some development potential you can see there's about six acres of","speaker":null,"is_sponsor":0},{"start_s":1044.08,"end_s":1049.28,"text":"Non-agricultural land reserve. So that means you basically can't do jack with it","speaker":null,"is_sponsor":0},{"start_s":1049.28,"end_s":1056.96,"text":"Like you could buy you could buy a 50 acre farm for less than like a one acre residential lot in some cases","speaker":null,"is_sponsor":0},{"start_s":1056.96,"end_s":1062.0,"text":"Okay, no not quite but but the point is that this agricultural land reserve land is worth","speaker":null,"is_sponsor":0},{"start_s":1062.72,"end_s":1065.44,"text":"functionally nothing compared to","speaker":null,"is_sponsor":0},{"start_s":1067.52,"end_s":1071.12,"text":"You know something that you could actually build residential or build industrial or commercial on","speaker":null,"is_sponsor":0},{"start_s":1071.92,"end_s":1075.76,"text":"There's a whole lot of other red flags here landmark status","speaker":null,"is_sponsor":0},{"start_s":1077.04,"end_s":1080.72,"text":"Oh, no, what does that mean? You don't want anything with status","speaker":null,"is_sponsor":0},{"start_s":1081.2,"end_s":1086.96,"text":"You don't want heritage status fair enough landmark status. I've heard of heritage status. I don't know","speaker":null,"is_sponsor":0},{"start_s":1087.6,"end_s":1092.64,"text":"I don't know what landmark status is. I don't care. I don't want to know that sounds terrible","speaker":null,"is_sponsor":0},{"start_s":1093.04,"end_s":1098.64,"text":"Basically, it means there's red tape that you're gonna have to jump through if you want to do anything other than","speaker":null,"is_sponsor":0},{"start_s":1099.44,"end_s":1104.24,"text":"Sit in the office there and run a golf course. Okay, what'd you find? What'd you find?","speaker":null,"is_sponsor":0},{"start_s":1105.04,"end_s":1110.8,"text":"Historic place. I haven't gotten anything specific yet, but the first google brings you to historic place","speaker":null,"is_sponsor":0},{"start_s":1111.04,"end_s":1116.64,"text":"Which i'm assuming is essentially the same thing as heritage status. Yeah, you you don't want you don't want any of that","speaker":null,"is_sponsor":0},{"start_s":1116.64,"end_s":1121.84,"text":"You don't want any part of that. Okay, so we're not buying a golf course because you know, well, it's stupid basically","speaker":null,"is_sponsor":0},{"start_s":1123.36,"end_s":1128.16,"text":"What what else we got? What else we got here? Okay, so yeah, we're not we're not buying the the city block in Surrey","speaker":null,"is_sponsor":0},{"start_s":1128.24,"end_s":1133.04,"text":"That's been rotting since the 90s. We talked about that last week. You're gonna find a lot of stuff that's for lease","speaker":null,"is_sponsor":0},{"start_s":1134.16,"end_s":1137.28,"text":"And the thing is leasing. Yeah, it's an option","speaker":null,"is_sponsor":0},{"start_s":1138.56,"end_s":1141.04,"text":"If you can afford to buy though","speaker":null,"is_sponsor":0},{"start_s":1142.16,"end_s":1145.04,"text":"The fact that we have owned this has saved us","speaker":null,"is_sponsor":0},{"start_s":1146.32,"end_s":1152.32,"text":"Literally literally i've liked that approach. I've supported that approach the whole time literally millions of dollars","speaker":null,"is_sponsor":0},{"start_s":1152.72,"end_s":1157.28,"text":"Because your landlord in in the time since we bought the first three units","speaker":null,"is_sponsor":0},{"start_s":1157.28,"end_s":1159.76,"text":"We paid a million dollars for three units","speaker":null,"is_sponsor":0},{"start_s":1160.4,"end_s":1163.52,"text":"One of those units is now worth about","speaker":null,"is_sponsor":0},{"start_s":1164.32,"end_s":1169.36,"text":"1.1 or something like 1.2 It's essentially quadrupled in value","speaker":null,"is_sponsor":0},{"start_s":1169.36,"end_s":1173.2,"text":"Which means that if we had leased it our rent would have quadrupled","speaker":null,"is_sponsor":0},{"start_s":1173.6,"end_s":1179.92,"text":"Putting money in the pocket of our landlord when instead we were able to invest that money in our own equity that we can now","speaker":null,"is_sponsor":0},{"start_s":1179.92,"end_s":1184.8,"text":"use to cross shop something else so If you can afford to buy","speaker":null,"is_sponsor":0},{"start_s":1184.88,"end_s":1188.0,"text":"I'd like to buy even though with that said the market is","speaker":null,"is_sponsor":0},{"start_s":1189.28,"end_s":1194.72,"text":"You know Not going too great right now, but sorry once I low mac in flocking chats","speaker":null,"is_sponsor":0},{"start_s":1194.72,"end_s":1200.4,"text":"Yeah, we pay half a million dollars a year for our business property in portcels for our lease of our business property in portcels","speaker":null,"is_sponsor":0},{"start_s":1201.04,"end_s":1210.64,"text":"That's a lot of money That's a lot of freaking money half a mil and the thing about commercial leases is they are way worse than residential leases","speaker":null,"is_sponsor":0},{"start_s":1211.12,"end_s":1216.32,"text":"Like and I know residential rent agreements and lease agreements can be brutal","speaker":null,"is_sponsor":0},{"start_s":1216.32,"end_s":1219.2,"text":"They can be so burdensome for the renter","speaker":null,"is_sponsor":0},{"start_s":1219.76,"end_s":1224.08,"text":"Especially if you live in an area where you don't have ample protections, but commercial","speaker":null,"is_sponsor":0},{"start_s":1225.12,"end_s":1227.68,"text":"Whole other level they're what are called triple net","speaker":null,"is_sponsor":0},{"start_s":1228.24,"end_s":1231.28,"text":"Which essentially means that you pay for","speaker":null,"is_sponsor":0},{"start_s":1231.92,"end_s":1236.8,"text":"Your rent and they get to advertise that lease rate, which is going to be per square foot","speaker":null,"is_sponsor":0},{"start_s":1237.36,"end_s":1243.04,"text":"You know probably somewhere in the neighborhood of like 11 to 18 dollars a square foot depending on sort of what you're looking at","speaker":null,"is_sponsor":0},{"start_s":1243.04,"end_s":1248.56,"text":"So let's say 10 to 20 dollars a square foot. Then you have something called additional rent","speaker":null,"is_sponsor":0},{"start_s":1250.8,"end_s":1257.12,"text":"What's your additional rent go ahead and ask me What what yeah, what what is that is that like power and water? No","speaker":null,"is_sponsor":0},{"start_s":1257.92,"end_s":1262.56,"text":"You pay no you pay your own utilities I haven't genuinely no idea me either","speaker":null,"is_sponsor":0},{"start_s":1263.44,"end_s":1267.44,"text":"It's whatever it is I just pass through to you","speaker":null,"is_sponsor":0},{"start_s":1267.76,"end_s":1275.2,"text":"Whatever property tax I pay Whatever building maintenance I might incur now I as the landlord have to pay it up front","speaker":null,"is_sponsor":0},{"start_s":1275.52,"end_s":1278.48,"text":"So if the building needs a new roof I pay for the roof","speaker":null,"is_sponsor":0},{"start_s":1278.88,"end_s":1284.72,"text":"But then what I do is I pass the I pass the expense along to you and you pay me back","speaker":null,"is_sponsor":0},{"start_s":1285.2,"end_s":1291.44,"text":"Yearly in installments for that roof for my building. Oh my god. That's how commercial works, baby","speaker":null,"is_sponsor":0},{"start_s":1292.16,"end_s":1300.72,"text":"So, um, yeah, yeah commercial commercial leases absolutely brutal apparently additional rent","speaker":null,"is_sponsor":0},{"start_s":1301.04,"end_s":1308.08,"text":"Can go up by any percentage. Yeah, so additional rent is used to circumvent the maximum percentage increases for rent","speaker":null,"is_sponsor":0},{"start_s":1308.64,"end_s":1314.08,"text":"Uh, because if they can't increase the base rent, they just increase the additional rent by any percentage they want","speaker":null,"is_sponsor":0},{"start_s":1314.72,"end_s":1321.36,"text":"So it could be this is obviously not real, but it could be like 300 because they're like, uh, we need to make up for whatever","speaker":null,"is_sponsor":0},{"start_s":1321.68,"end_s":1327.52,"text":"Yeah Yeah, commercial uh commercial leases. I also i'm just like googling this stuff. I don't know if this is 100 true or not","speaker":null,"is_sponsor":0},{"start_s":1327.52,"end_s":1331.44,"text":"Don't take this as fact It's surely time says never sign a triple net lease","speaker":null,"is_sponsor":0},{"start_s":1332.24,"end_s":1339.52,"text":"You will not find a lease in the vancouver area that isn't triple net and that's that's even now even now that things are a bit more","speaker":null,"is_sponsor":0},{"start_s":1339.6,"end_s":1345.2,"text":"of a buyer's market I think our vacancy last time I looked at the the report for it was","speaker":null,"is_sponsor":0},{"start_s":1345.84,"end_s":1354.16,"text":"Uh, under one percent Real vacancy because some of the vacancy is not even real. It's like it's fake because it's vacant now, but it's just pending","speaker":null,"is_sponsor":0},{"start_s":1354.72,"end_s":1357.36,"text":"Uh, yeah, it's absolutely brutal","speaker":null,"is_sponsor":0},{"start_s":1357.84,"end_s":1365.04,"text":"So you pay the base rent property taxes building insurance and utilities as well as other operating and maintenance costs the landlord assumes","speaker":null,"is_sponsor":0},{"start_s":1365.84,"end_s":1369.52,"text":"No cost other than structural repairs and structural","speaker":null,"is_sponsor":0},{"start_s":1370.0,"end_s":1377.28,"text":"That means that doesn't mean roof that means like foundation the foundation essentially unless the building collapses into the sea","speaker":null,"is_sponsor":0},{"start_s":1377.84,"end_s":1384.08,"text":"They are not responsible for anything and that whole and you're paying the insurance by the way to cover if that happens","speaker":null,"is_sponsor":0},{"start_s":1384.16,"end_s":1387.92,"text":"The whole other operating cost thing is where you're getting killed because","speaker":null,"is_sponsor":0},{"start_s":1388.56,"end_s":1392.16,"text":"They can define anything that way. Yeah other operating costs could be","speaker":null,"is_sponsor":0},{"start_s":1392.96,"end_s":1395.2,"text":"I don't know the landlord decides to pay himself","speaker":null,"is_sponsor":0},{"start_s":1396.48,"end_s":1402.56,"text":"$40,000 of an hour. I don't know who knows. Yeah, or they hire trades that are like their buddies","speaker":null,"is_sponsor":0},{"start_s":1403.04,"end_s":1407.12,"text":"To do any of the work. Yeah pass that along to you. Yeah, that's not their problem","speaker":null,"is_sponsor":0},{"start_s":1407.28,"end_s":1411.76,"text":"Yeah Yeah, so it's a whole it's a whole thing. It it leaves itself","speaker":null,"is_sponsor":0},{"start_s":1412.24,"end_s":1421.68,"text":"Obviously glaringly open to abuse. Um, but that's the system we have cool. All right. What else we got? Okay. We've got residential development","speaker":null,"is_sponsor":0},{"start_s":1421.92,"end_s":1425.92,"text":"So not a golf course, not a city golf, not a golf course Willowbrook park is for sale brother. What is that?","speaker":null,"is_sponsor":0},{"start_s":1426.56,"end_s":1432.24,"text":"It's it like willowbrook like like the shop wait what like the shopping center not willowbrook mall","speaker":null,"is_sponsor":0},{"start_s":1432.4,"end_s":1437.04,"text":"The one like right across from it willowbrook park Willowbrook park is for sale","speaker":null,"is_sponsor":0},{"start_s":1438.48,"end_s":1442.16,"text":"The whole thing 200,000 square feet of retail","speaker":null,"is_sponsor":0},{"start_s":1444.0,"end_s":1446.96,"text":"What I know right 90 million","speaker":null,"is_sponsor":0},{"start_s":1447.76,"end_s":1451.28,"text":"Dude and the number of court ordered sales that I've seen recently","speaker":null,"is_sponsor":0},{"start_s":1452.64,"end_s":1457.52,"text":"Freaking wild Mayfair industrial is going on","speaker":null,"is_sponsor":0},{"start_s":1458.0,"end_s":1460.56,"text":"Okay, so this is money. Yeah","speaker":null,"is_sponsor":0},{"start_s":1461.2,"end_s":1464.4,"text":"So interest rates have been high for a while a long time","speaker":null,"is_sponsor":0},{"start_s":1464.64,"end_s":1470.96,"text":"And it takes a while because your mortgage is going to be on two year three year five year five year renewal term, right?","speaker":null,"is_sponsor":0},{"start_s":1471.28,"end_s":1480.48,"text":"So if you were on a fixed Mm-hmm So in um in many cases these properties are owned by people who are using them as a land bank essentially","speaker":null,"is_sponsor":0},{"start_s":1480.48,"end_s":1489.12,"text":"They're just parking their money in an asset that unlike cash isn't going to just inflation wrought itself into oblivion","speaker":null,"is_sponsor":0},{"start_s":1489.6,"end_s":1493.28,"text":"Um, theoretically, you know land um","speaker":null,"is_sponsor":0},{"start_s":1493.28,"end_s":1499.68,"text":"Gold crypto I'm not endorsing any of these particular assets, but typically assets","speaker":null,"is_sponsor":0},{"start_s":1500.4,"end_s":1508.08,"text":"Are as long as they aren't hyper volatile ones can are a safer storage of wealth than just cash because there's nobody","speaker":null,"is_sponsor":0},{"start_s":1508.64,"end_s":1512.08,"text":"actively trying to deflate the the value of it","speaker":null,"is_sponsor":0},{"start_s":1512.48,"end_s":1517.2,"text":"um So what's happening is all of a sudden","speaker":null,"is_sponsor":0},{"start_s":1517.76,"end_s":1520.88,"text":"If you if you don't own the property outright","speaker":null,"is_sponsor":0},{"start_s":1521.28,"end_s":1525.84,"text":"Like if you if you are if you're just hoping that, you know, your rent is going to cover your mortgage","speaker":null,"is_sponsor":0},{"start_s":1526.4,"end_s":1531.36,"text":"While the asset appreciates That calculus just like from any residential owners","speaker":null,"is_sponsor":0},{"start_s":1532.16,"end_s":1537.36,"text":"Is changing the second that you renew your mortgage and you're not getting essentially free debt anymore","speaker":null,"is_sponsor":0},{"start_s":1537.76,"end_s":1543.68,"text":"So this land bank might be appreciating although in the case of vancouver as I mentioned the market's softening","speaker":null,"is_sponsor":0},{"start_s":1544.08,"end_s":1549.36,"text":"So maybe isn't appreciating. It's either either not appreciating so much or it's it's just stagnating","speaker":null,"is_sponsor":0},{"start_s":1549.44,"end_s":1555.76,"text":"And now it's costing you way more than you thought it was so you're sitting here going. Okay. Well, there's no upside to this","speaker":null,"is_sponsor":0},{"start_s":1556.48,"end_s":1558.48,"text":"Let's sell willowbrook park","speaker":null,"is_sponsor":0},{"start_s":1560.24,"end_s":1564.4,"text":"Which should be clear something that's an outdoor mall. Yeah, that's what across the street. Yeah. Yeah, um","speaker":null,"is_sponsor":0},{"start_s":1565.68,"end_s":1569.68,"text":"So it's not some people were like LTT mall. It's like, yeah, I don't think it would be as interesting","speaker":null,"is_sponsor":0},{"start_s":1569.76,"end_s":1573.68,"text":"Yeah, yeah, not so much. Um, this one's kind of interesting. You'll you'll find a","speaker":null,"is_sponsor":0},{"start_s":1574.48,"end_s":1577.84,"text":"A lot of the good land has been kind of developed","speaker":null,"is_sponsor":0},{"start_s":1578.16,"end_s":1585.2,"text":"Off and so what's left as development opportunities is going to be a lot of these like super weird shaped sites","speaker":null,"is_sponsor":0},{"start_s":1585.28,"end_s":1587.28,"text":"Yeah, this is a good shape site","speaker":null,"is_sponsor":0},{"start_s":1588.56,"end_s":1594.48,"text":"Four acres though of it are encumbered by bc hydro easement. So you got to watch out for","speaker":null,"is_sponsor":0},{"start_s":1595.12,"end_s":1603.28,"text":"You got to watch out for easements Because that pretty much means two-thirds of this bc hydro, which is our our power monopoly","speaker":null,"is_sponsor":0},{"start_s":1603.76,"end_s":1608.08,"text":"Needs to be able to Drive on and access essentially. Yep","speaker":null,"is_sponsor":0},{"start_s":1608.64,"end_s":1613.36,"text":"Um, so that one. Yeah, probably not super appealing. Okay. What else what else we got here?","speaker":null,"is_sponsor":0},{"start_s":1614.0,"end_s":1622.08,"text":"Okay development Office units and this is this is not going to be that relevant to us. Um, yeah, yeah residential","speaker":null,"is_sponsor":0},{"start_s":1622.88,"end_s":1628.64,"text":"Residential you could put in property type and stuff. You could use the filter. Yeah. Yeah. Yeah. Yeah. Sure. Use the filters tech man","speaker":null,"is_sponsor":0},{"start_s":1629.04,"end_s":1633.84,"text":"Sure, I'll use the filters. I'll use the filters. All right. Now. Let's get uh, you know what? Let's uh","speaker":null,"is_sponsor":0},{"start_s":1634.48,"end_s":1639.52,"text":"Let's look at let's look at office too. Why don't we look at industrial and office LTT towers Linus tech towers","speaker":null,"is_sponsor":0},{"start_s":1641.92,"end_s":1647.92,"text":"Oh paved and fenced yard area. Oh, I can lease a yard. Oh, yeah, you're welcome. I'll just pay your mortgage for you","speaker":null,"is_sponsor":0},{"start_s":1648.64,"end_s":1652.96,"text":"Uh, what else we got? Oh, man, this is far. This is really far also small","speaker":null,"is_sponsor":0},{"start_s":1653.68,"end_s":1657.12,"text":"too small brand new industrial facility in pork pork equitlam","speaker":null,"is_sponsor":0},{"start_s":1659.12,"end_s":1664.24,"text":"This is too small. This is only about the size of the lab So if the lab was big enough, then we could do that","speaker":null,"is_sponsor":0},{"start_s":1664.24,"end_s":1668.64,"text":"So even now you can see with all of these options available to us","speaker":null,"is_sponsor":0},{"start_s":1669.2,"end_s":1678.16,"text":"there's really Not that much that would actually be suitable for us to move into unless you just yeah make your own town","speaker":null,"is_sponsor":0},{"start_s":1678.48,"end_s":1680.48,"text":"Dude, we don't want to be on nss island","speaker":null,"is_sponsor":0},{"start_s":1682.48,"end_s":1689.6,"text":"Dan's given the No, thank you. You don't want to be there. No, thank you. Hey, it's really far b. It's like the traffic","speaker":null,"is_sponsor":0},{"start_s":1690.16,"end_s":1695.6,"text":"Burn your nostrils out for the rest of your life and it's like the kind of the old industrial like crappy island","speaker":null,"is_sponsor":0},{"start_s":1695.68,"end_s":1700.0,"text":"It's like uh, uh, what's a sulfur pass any you guys play anno? Anyone play anno?","speaker":null,"is_sponsor":0},{"start_s":1700.24,"end_s":1703.52,"text":"Okay, so they put all the stuff that contributes to","speaker":null,"is_sponsor":0},{"start_s":1704.08,"end_s":1709.52,"text":"Less beautification of your island, you know, you move it all until I'll smelting. Yeah steel island","speaker":null,"is_sponsor":0},{"start_s":1709.92,"end_s":1714.24,"text":"That's anisys island essentially the rug of vancouver. You just push everything under there. Yeah","speaker":null,"is_sponsor":0},{"start_s":1715.04,"end_s":1722.24,"text":"um Okay, we can actually we can actually change our listings to just things that are for sale to kind of narrow things down a little bit","speaker":null,"is_sponsor":0},{"start_s":1723.2,"end_s":1728.56,"text":"Basically, there's there's not actually that much and part of the problem is that center, dude","speaker":null,"is_sponsor":0},{"start_s":1728.8,"end_s":1732.48,"text":"There's a big there's a big industrial park further down","speaker":null,"is_sponsor":0},{"start_s":1733.04,"end_s":1735.36,"text":"Like down here in campbell heights","speaker":null,"is_sponsor":0},{"start_s":1736.16,"end_s":1741.28,"text":"That's pretty far from any population centers because like I said most people are not living in south surrey","speaker":null,"is_sponsor":0},{"start_s":1741.68,"end_s":1746.56,"text":"So people are mostly living here and they're living here and they're living here","speaker":null,"is_sponsor":0},{"start_s":1747.12,"end_s":1752.88,"text":"Um, so the farther down south we go the more challenging it gets so campbell heights is down here","speaker":null,"is_sponsor":0},{"start_s":1755.52,"end_s":1759.76,"text":"There was one that seemed kind of interesting, but it keeps as you're scrolling around it keeps oh, I'm sorry the quad","speaker":null,"is_sponsor":0},{"start_s":1760.08,"end_s":1766.16,"text":"Uh, no that one's in campbell heights. No, it was scrolled down. It's not that mall again. Is it? No, we're not buying that mall","speaker":null,"is_sponsor":0},{"start_s":1766.24,"end_s":1774.96,"text":"No, no, no it was scrolled down Okay, cord ordered sale right here. I don't know where you were looking at the time. I'm so sorry luke","speaker":null,"is_sponsor":0},{"start_s":1775.12,"end_s":1781.28,"text":"I'm not sure. Maybe you'll see it. Uh, there is uh, there is kind of an interesting one in uh, in port calz","speaker":null,"is_sponsor":0},{"start_s":1781.68,"end_s":1787.92,"text":"So that's up in this area. So it's uh, it's kind of a sister building to the smash champs badminton center building","speaker":null,"is_sponsor":0},{"start_s":1788.72,"end_s":1792.32,"text":"This is too far Right next to smash champs would be sick","speaker":null,"is_sponsor":0},{"start_s":1792.4,"end_s":1797.76,"text":"I would love it, but the problem with port calz is that it is best lunch breaks crazy expensive","speaker":null,"is_sponsor":0},{"start_s":1798.0,"end_s":1805.12,"text":"Oh crazy Crazy expensive way out in delta. Yeah, why do I even why don't I even have delta on the map?","speaker":null,"is_sponsor":0},{"start_s":1805.2,"end_s":1808.16,"text":"Okay, let's get let's get delta out of here. We don't need to see anything in delta","speaker":null,"is_sponsor":0},{"start_s":1808.88,"end_s":1815.12,"text":"um Yeah, I think that's about it. I mean there's there's anything else you want to look at","speaker":null,"is_sponsor":0},{"start_s":1815.2,"end_s":1818.88,"text":"You want to ask like why not that one because I'll be happy to oh, is it this one?","speaker":null,"is_sponsor":0},{"start_s":1819.44,"end_s":1824.24,"text":"Uh, 192 business center. It wasn't but let's look at it. Sure. Yeah, we can look at 192 business center","speaker":null,"is_sponsor":0},{"start_s":1824.24,"end_s":1826.8,"text":"So this one is very similar to smash champs","speaker":null,"is_sponsor":0},{"start_s":1828.64,"end_s":1839.6,"text":"Pretty nice brand new building Right pretty sick. Okay. Let's have a look. Oh, look at that up to 50 000 square feet 32 foot clear ceilings lots of power","speaker":null,"is_sponsor":0},{"start_s":1840.16,"end_s":1847.12,"text":"200 amps. Whoo. We'll get that uh high efficiency led lighting. It's uh brand new buildings, man","speaker":null,"is_sponsor":0},{"start_s":1847.76,"end_s":1850.64,"text":"Really nice. There's some very nice to haves, but","speaker":null,"is_sponsor":0},{"start_s":1851.2,"end_s":1855.04,"text":"There's a big problem with brand new buildings. You notice something here","speaker":null,"is_sponsor":0},{"start_s":1855.6,"end_s":1859.04,"text":"They talk a lot about when it's going to be complete and how many","speaker":null,"is_sponsor":0},{"start_s":1859.68,"end_s":1864.96,"text":"Dock and grade loading bays you've got and how close it is to highway one. Okay","speaker":null,"is_sponsor":0},{"start_s":1866.16,"end_s":1870.8,"text":"How close it is to the airport? Ah, okay, so here's our problem","speaker":null,"is_sponsor":0},{"start_s":1873.04,"end_s":1875.28,"text":"How many parking stalls do we have?","speaker":null,"is_sponsor":0},{"start_s":1876.64,"end_s":1884.72,"text":"Yeah, this is very common with new buildings They just don't put enough parking at all because you sell the building based on the square footage","speaker":null,"is_sponsor":0},{"start_s":1885.44,"end_s":1888.96,"text":"That's the calculation that everybody is doing. Yeah","speaker":null,"is_sponsor":0},{"start_s":1890.08,"end_s":1893.2,"text":"But the parking stalls don't count towards square footage","speaker":null,"is_sponsor":0},{"start_s":1893.52,"end_s":1901.12,"text":"So developers and you know what part of this is honestly probably a good thing because less parking less cars if people were","speaker":null,"is_sponsor":0},{"start_s":1901.52,"end_s":1906.24,"text":"Riding their bikes or taking transit more that would be awesome. I can tell you right now","speaker":null,"is_sponsor":0},{"start_s":1906.88,"end_s":1909.68,"text":"Uh, not a whole lot of that is happening here","speaker":null,"is_sponsor":0},{"start_s":1910.4,"end_s":1913.44,"text":"Yeah, um, it just it just it just isn't","speaker":null,"is_sponsor":0},{"start_s":1914.08,"end_s":1918.48,"text":"So so part of it is is good aspirationally if we were using more public transit","speaker":null,"is_sponsor":0},{"start_s":1919.04,"end_s":1923.84,"text":"But the reality now is that that would accommodate","speaker":null,"is_sponsor":0},{"start_s":1924.72,"end_s":1927.84,"text":"Maybe a quarter of our company right now","speaker":null,"is_sponsor":0},{"start_s":1928.64,"end_s":1934.56,"text":"And my understanding don't quote me on this my understanding is that beady the developer of this property","speaker":null,"is_sponsor":0},{"start_s":1934.88,"end_s":1941.12,"text":"Worked out a deal with the city where they didn't have to account for any street parking in their development","speaker":null,"is_sponsor":0},{"start_s":1941.68,"end_s":1944.56,"text":"So they were able to effectively like build right to the road","speaker":null,"is_sponsor":0},{"start_s":1944.96,"end_s":1949.92,"text":"Like right to the the travel areas of the road So while in the building we're in now","speaker":null,"is_sponsor":0},{"start_s":1950.4,"end_s":1956.56,"text":"Also has inadequate parking probably about the same ratio like a new building would have because they want to maximize the square footage","speaker":null,"is_sponsor":0},{"start_s":1956.56,"end_s":1962.64,"text":"They can sell Ours at least has street parking. It's not ideal. Nobody likes walking","speaker":null,"is_sponsor":0},{"start_s":1962.88,"end_s":1965.6,"text":"Tredging to the building through the snow or whatever in the winter fine","speaker":null,"is_sponsor":0},{"start_s":1966.8,"end_s":1970.56,"text":"But we have doable. Yeah. Yeah, at least there is somewhere to put your car","speaker":null,"is_sponsor":0},{"start_s":1970.64,"end_s":1974.64,"text":"This you'd be you'd be parking probably in the neighborhood of like five to six blocks away","speaker":null,"is_sponsor":0},{"start_s":1975.12,"end_s":1979.92,"text":"Which if it's anything like smash champs, which I actually did have to pace out because we were trying to figure out","speaker":null,"is_sponsor":0},{"start_s":1980.24,"end_s":1986.48,"text":"What parking would look like for a land event for example So at land events if we can get the city on board at smash, which by the way","speaker":null,"is_sponsor":0},{"start_s":1986.72,"end_s":1990.0,"text":"Oh, we can talk about that. We submitted our package to them this week","speaker":null,"is_sponsor":0},{"start_s":1990.48,"end_s":1997.92,"text":"We gave the city our package. Did you know we did was it well received? I think so. Nice. I think so. I think they were","speaker":null,"is_sponsor":0},{"start_s":1998.4,"end_s":2001.12,"text":"You asked them they admired it. Was it good for you?","speaker":null,"is_sponsor":0},{"start_s":2002.72,"end_s":2010.56,"text":"So so we gave them the package We could talk about that a little bit more later actually at pretty excited to talk about uh whale land, but","speaker":null,"is_sponsor":0},{"start_s":2011.44,"end_s":2014.88,"text":"If it's anything like smash, it's it's brutal basically","speaker":null,"is_sponsor":0},{"start_s":2015.52,"end_s":2021.2,"text":"It's fine if you're coming in once a quarter for an event Yeah, but if you're commuting every day and you're like hiking from your car","speaker":null,"is_sponsor":0},{"start_s":2021.2,"end_s":2024.32,"text":"You're gonna need like an electric scooter in your car just to do the last leg of your commute","speaker":null,"is_sponsor":0},{"start_s":2025.04,"end_s":2032.72,"text":"Which is a little ridiculous. So that's the problem There's a video upgrading every one of my employees cars with like a electric scooter storage","speaker":null,"is_sponsor":0},{"start_s":2034.56,"end_s":2038.64,"text":"Sorry keep going the older buildings will have more parking. They'll have more yard space","speaker":null,"is_sponsor":0},{"start_s":2039.04,"end_s":2041.76,"text":"But they will lack a lot of nice to haves that","speaker":null,"is_sponsor":0},{"start_s":2042.32,"end_s":2047.52,"text":"Are going to need to be upgraded that are going to cost money the newer buildings are built with the new meta","speaker":null,"is_sponsor":0},{"start_s":2048.08,"end_s":2051.44,"text":"Which means you get a lot of more up-to-date nice stuff good power","speaker":null,"is_sponsor":0},{"start_s":2052.24,"end_s":2057.28,"text":"Good led lighting they're way more efficient in terms of keeping in heat and keeping out cold that sort of thing","speaker":null,"is_sponsor":0},{"start_s":2057.68,"end_s":2060.0,"text":"Which is money, but they have no","speaker":null,"is_sponsor":0},{"start_s":2060.72,"end_s":2064.32,"text":"parking What else we got here?","speaker":null,"is_sponsor":0},{"start_s":2064.96,"end_s":2068.64,"text":"We don't have to do this much longer if you guys are bored underground parking. Okay, so I find this stuff","speaker":null,"is_sponsor":0},{"start_s":2068.88,"end_s":2074.08,"text":"Rucker asks what about underground parking over in Floatplane chat. It's very little of it here. Um, you know why?","speaker":null,"is_sponsor":0},{"start_s":2074.64,"end_s":2078.8,"text":"no, well Is it like the water table or something what I would","speaker":null,"is_sponsor":0},{"start_s":2079.36,"end_s":2084.56,"text":"Okay, so a I suspect there is something to do with that But I don't know anything about the actual engineering of it","speaker":null,"is_sponsor":0},{"start_s":2084.96,"end_s":2091.28,"text":"What I can tell you is that the way that property values have skyrocketed here in such a short period of time","speaker":null,"is_sponsor":0},{"start_s":2091.76,"end_s":2096.0,"text":"Has changed the calculus for underground parking in a big way","speaker":null,"is_sponsor":0},{"start_s":2096.48,"end_s":2102.0,"text":"So it would have been not that long ago that underground parking didn't make any sense here. It's really expensive","speaker":null,"is_sponsor":0},{"start_s":2102.24,"end_s":2107.2,"text":"It's it's it's the last quote I got was about a hundred thousand Canadian dollars per stall","speaker":null,"is_sponsor":0},{"start_s":2107.6,"end_s":2112.96,"text":"And that is going to be somewhat dependent on what kind of a building you're building and like whether you would have had to","speaker":null,"is_sponsor":0},{"start_s":2113.04,"end_s":2117.92,"text":"Like dig a big hole anyway versus if you're digging it just for the express purpose of putting cars in it","speaker":null,"is_sponsor":0},{"start_s":2118.4,"end_s":2122.0,"text":"um But pretty much","speaker":null,"is_sponsor":0},{"start_s":2122.0,"end_s":2126.64,"text":"until land values Went to the mooned here","speaker":null,"is_sponsor":0},{"start_s":2126.72,"end_s":2131.6,"text":"It made way more sense to do the suburbia thing and just sprawl your parking lots","speaker":null,"is_sponsor":0},{"start_s":2132.0,"end_s":2134.48,"text":"So what I suspect is we'll see a lot more of them in the future","speaker":null,"is_sponsor":0},{"start_s":2135.04,"end_s":2140.0,"text":"But they don't really exist here at least not now because it didn't make any sense","speaker":null,"is_sponsor":0},{"start_s":2140.08,"end_s":2144.64,"text":"It was it the land was not worth so much that it was worth digging into it in order to part of it","speaker":null,"is_sponsor":0},{"start_s":2144.64,"end_s":2147.2,"text":"The only thing you would see it for was apartment buildings generally. Yeah","speaker":null,"is_sponsor":0},{"start_s":2148.16,"end_s":2152.4,"text":"I don't necessarily know why but that was the thing. Yeah, shraft 2k says you can always add nice to ads","speaker":null,"is_sponsor":0},{"start_s":2152.4,"end_s":2160.16,"text":"You can't add more parking stalls. You can Yeah already rafts as a rooftop parking. Yes. Yes. That is technically possible","speaker":null,"is_sponsor":0},{"start_s":2160.16,"end_s":2164.64,"text":"But you're going to have to re-engineer the entire bloody structure to hold all the cars on the roof","speaker":null,"is_sponsor":0},{"start_s":2164.64,"end_s":2170.72,"text":"So that's going to be that's going to be requiring some budget. Yeah some budget just you know","speaker":null,"is_sponsor":0},{"start_s":2170.96,"end_s":2178.4,"text":"Have a have a program where Uh a certain percentage of the employee base gets gets free ubers to work","speaker":null,"is_sponsor":0},{"start_s":2179.2,"end_s":2182.88,"text":"I actually kind of like this one. It's really close to home. I've seen this before","speaker":null,"is_sponsor":0},{"start_s":2183.76,"end_s":2187.84,"text":"But part of the problem is that while it does have a hundred thousand square feet of building on it","speaker":null,"is_sponsor":0},{"start_s":2188.4,"end_s":2194.0,"text":"Uh, I don't think train Oh, yeah. Yeah. Yeah. Yeah. That's the rail. I mean, okay. Look","speaker":null,"is_sponsor":0},{"start_s":2194.72,"end_s":2198.24,"text":"Okay, let me get to that. Let me get to that. It has a hundred thousand square feet of building on it","speaker":null,"is_sponsor":0},{"start_s":2198.48,"end_s":2206.72,"text":"But those are the buildings Uh, we ain't using those buildings. No, this is what we call in the biz a tear down","speaker":null,"is_sponsor":0},{"start_s":2207.2,"end_s":2213.36,"text":"So that would help, you know with mitigating train noise is you could you know, double insulate your walls or whatever else","speaker":null,"is_sponsor":0},{"start_s":2213.36,"end_s":2217.2,"text":"Like you could you could actually solve it. It won't solve it, but it would it would do a lot","speaker":null,"is_sponsor":0},{"start_s":2217.6,"end_s":2221.04,"text":"um But the cost of this because you're essentially buying","speaker":null,"is_sponsor":0},{"start_s":2222.08,"end_s":2225.84,"text":"$100,000 worth of buildings that um, you are going to then","speaker":null,"is_sponsor":0},{"start_s":2226.8,"end_s":2232.8,"text":"wrecked uh Makes this just not make any sense. I don't even think they have a price quoted on this one","speaker":null,"is_sponsor":0},{"start_s":2232.88,"end_s":2237.6,"text":"I might have asked at some point, but I can't remember But yeah, this one's uh","speaker":null,"is_sponsor":0},{"start_s":2237.6,"end_s":2243.6,"text":"Yeah, interesting, but unfortunately, you know, what's also cool about this one is it's over the 196 street border","speaker":null,"is_sponsor":0},{"start_s":2243.84,"end_s":2247.36,"text":"Which means that we'd be eligible for more film and production services tax credits","speaker":null,"is_sponsor":0},{"start_s":2247.68,"end_s":2252.56,"text":"I suspect whoever's selling it is hoping that whoever buys it wants the buildings to just store","speaker":null,"is_sponsor":0},{"start_s":2252.96,"end_s":2256.0,"text":"Stuff from the trains in so they don't they don't need to be nice","speaker":null,"is_sponsor":0},{"start_s":2257.44,"end_s":2260.96,"text":"Yeah Unfortunately, that's not me","speaker":null,"is_sponsor":0},{"start_s":2261.52,"end_s":2265.76,"text":"So Get wrecked to me. Yeah. Yeah, someone asked this","speaker":null,"is_sponsor":0},{"start_s":2266.4,"end_s":2271.92,"text":"Um, and I I can think of some reasons why this might be rough, but there is there are examples of this around the area","speaker":null,"is_sponsor":0},{"start_s":2272.0,"end_s":2279.36,"text":"but empty land Yeah, there's not much and a lot of what is a lot of what's empty land is a lr","speaker":null,"is_sponsor":0},{"start_s":2279.44,"end_s":2281.92,"text":"So you'll you'll see it you'll look at it and you'll be like, oh, yeah","speaker":null,"is_sponsor":0},{"start_s":2282.64,"end_s":2286.24,"text":"Look how many buildings we could put here. What what if we made?","speaker":null,"is_sponsor":0},{"start_s":2286.24,"end_s":2290.64,"text":"I Mean there's clarkson's farm","speaker":null,"is_sponsor":0},{"start_s":2291.04,"end_s":2296.8,"text":"It's doing very well. What about a server farm? What if we had line? Oh, what if we had Linus's farm?","speaker":null,"is_sponsor":0},{"start_s":2297.04,"end_s":2299.44,"text":"Ding the thing. Uh, you have to ding your own thing","speaker":null,"is_sponsor":0},{"start_s":2300.72,"end_s":2304.16,"text":"What if we did Linus's farm? What's like, what's the minimum we would need to farm?","speaker":null,"is_sponsor":0},{"start_s":2304.96,"end_s":2309.36,"text":"It could be fine. You can do things like chickens and it's like whatever six pigs or something","speaker":null,"is_sponsor":0},{"start_s":2309.44,"end_s":2316.16,"text":"It's less that how much minimum we would need to farm and it's more how much maximum other things could we do there","speaker":null,"is_sponsor":0},{"start_s":2317.12,"end_s":2320.32,"text":"We couldn't have a production studio on a farm because","speaker":null,"is_sponsor":0},{"start_s":2320.96,"end_s":2327.36,"text":"That would devalue the the production studio zoned land that somebody else bought before","speaker":null,"is_sponsor":0},{"start_s":2328.24,"end_s":2334.16,"text":"also pretty much all of our farmland in the lower mainland is uh floodplain and","speaker":null,"is_sponsor":0},{"start_s":2335.04,"end_s":2340.72,"text":"I don't know about you, but i'm not super into buying things that are going to be underwater soon","speaker":null,"is_sponsor":0},{"start_s":2342.0,"end_s":2346.4,"text":"Or could be underwater soon and we have had some very significant floods here","speaker":null,"is_sponsor":0},{"start_s":2346.64,"end_s":2352.08,"text":"Our our only road was wiped out for a substantial amount of time. Yeah because of","speaker":null,"is_sponsor":0},{"start_s":2352.88,"end_s":2357.68,"text":"Basically a lake that we were we unlaked and then it decided to relake itself","speaker":null,"is_sponsor":0},{"start_s":2359.12,"end_s":2370.48,"text":"It's fun when things relake themselves. Yeah Breweries on alr with their own hops have issues with the alr. Yeah. Yeah. I mean I could see that","speaker":null,"is_sponsor":0},{"start_s":2371.68,"end_s":2375.52,"text":"No of a not small amount of people in bc","speaker":null,"is_sponsor":0},{"start_s":2376.4,"end_s":2383.04,"text":"That are aggressively skirting alr rules and I think if someone from the alr","speaker":null,"is_sponsor":0},{"start_s":2383.76,"end_s":2388.56,"text":"Just took a little drive around a lot of places in bc","speaker":null,"is_sponsor":0},{"start_s":2389.52,"end_s":2393.2,"text":"And cared at all a lot of people would lose their their setups","speaker":null,"is_sponsor":0},{"start_s":2393.36,"end_s":2398.88,"text":"Um, so it makes me care less when it feels like more than half of it is being abused","speaker":null,"is_sponsor":0},{"start_s":2399.36,"end_s":2404.0,"text":"Um, and it makes me want to do it ourselves. I get such a kick out of the gigantic","speaker":null,"is_sponsor":0},{"start_s":2404.8,"end_s":2412.0,"text":"Mansions the omega mansions on farmland with no farming going on ever like this is oh, we got him going","speaker":null,"is_sponsor":0},{"start_s":2412.16,"end_s":2416.96,"text":"We got him going here boys. Here we go. Here we go at least my my biggest thing is like you should at least","speaker":null,"is_sponsor":0},{"start_s":2417.12,"end_s":2420.8,"text":"f***ing attempt You should at least try","speaker":null,"is_sponsor":0},{"start_s":2420.96,"end_s":2426.48,"text":"Put something there. Why is it just open grass field? You don't have horses. There's no","speaker":null,"is_sponsor":0},{"start_s":2427.04,"end_s":2431.6,"text":"F***ing horses. There's nothing else. You're doing nothing. How do they get away with this?","speaker":null,"is_sponsor":0},{"start_s":2432.32,"end_s":2441.68,"text":"I know the whole flip. I've heard the stories I know the flip of you you bring an outside company to plant some junk and then you have them also come pick it","speaker":null,"is_sponsor":0},{"start_s":2441.84,"end_s":2446.88,"text":"And you make zero dollars off of it But the whole thing is so that you can have your stupid","speaker":null,"is_sponsor":0},{"start_s":2447.28,"end_s":2452.88,"text":"Probably disgusting looking terribly designed building on this plot of land in the middle of nowhere","speaker":null,"is_sponsor":0},{"start_s":2453.12,"end_s":2459.28,"text":"That you'd live in and do nothing else and probably don't see anyone because you're xenophobic for some reason. Anyways, um","speaker":null,"is_sponsor":0},{"start_s":2460.4,"end_s":2466.24,"text":"I hate Anyways, um, wow, but it's all just it's all a joke","speaker":null,"is_sponsor":0},{"start_s":2467.52,"end_s":2470.96,"text":"I've also heard that a huge percentage of that crop just gets thrown away","speaker":null,"is_sponsor":0},{"start_s":2472.32,"end_s":2477.28,"text":"Because it's not just growing whatever. They're not growing based on what we need. They're growing based on","speaker":null,"is_sponsor":0},{"start_s":2478.08,"end_s":2484.08,"text":"And it's not being properly treated It's just being planted and then pulled out of the ground at the end of the season","speaker":null,"is_sponsor":0},{"start_s":2484.24,"end_s":2490.0,"text":"Right. Yeah, that makes sense. So like it's a lot of it's junk. Like it's just it's this clear obvious","speaker":null,"is_sponsor":0},{"start_s":2490.32,"end_s":2496.08,"text":"Insane charade and there's parts of bc that you can literally drive around for a very long time","speaker":null,"is_sponsor":0},{"start_s":2496.72,"end_s":2505.36,"text":"Where you're just going mansion with no farm Mansion with no farm mansion with no farm mansion with no farm for like ever","speaker":null,"is_sponsor":0},{"start_s":2506.08,"end_s":2511.52,"text":"It's it just it really makes you not surprised when you drive around farmland in bc","speaker":null,"is_sponsor":0},{"start_s":2511.84,"end_s":2515.68,"text":"Figuring out that there's more corruption in bc than like practically anywhere because you're like","speaker":null,"is_sponsor":0},{"start_s":2515.84,"end_s":2520.8,"text":"I wonder where do all the people live that that have all this corruption and then you drive around what should be farmland","speaker":null,"is_sponsor":0},{"start_s":2520.88,"end_s":2525.28,"text":"And you're like, oh, it's uh, oops all mansions like okay. Anyways","speaker":null,"is_sponsor":0},{"start_s":2526.32,"end_s":2529.76,"text":"Yeah All right","speaker":null,"is_sponsor":0},{"start_s":2529.76,"end_s":2535.6,"text":"Yeah Good chat. I'll relax. So anyway, uh, we still have our ear to the ground","speaker":null,"is_sponsor":0},{"start_s":2535.68,"end_s":2540.72,"text":"And I suspect I'm talking as much to our staff as I am to our viewers at this point","speaker":null,"is_sponsor":0},{"start_s":2541.12,"end_s":2545.84,"text":"We still have our ear to the ground, but it's it's a challenge. Um","speaker":null,"is_sponsor":0},{"start_s":2546.96,"end_s":2550.64,"text":"Taren sent me one actually the other day that looked pretty cool","speaker":null,"is_sponsor":0},{"start_s":2551.28,"end_s":2554.88,"text":"Um, it's a little far from my house","speaker":null,"is_sponsor":0},{"start_s":2555.52,"end_s":2559.36,"text":"Which I'm not a huge fan of Um","speaker":null,"is_sponsor":0},{"start_s":2559.36,"end_s":2564.8,"text":"move More videos more videos. It would be far from a lot of people. You have to set up your new house","speaker":null,"is_sponsor":0},{"start_s":2565.12,"end_s":2568.48,"text":"Uh, I really don't want to move Um","speaker":null,"is_sponsor":0},{"start_s":2568.48,"end_s":2577.76,"text":"Here let's see if I can oh wait not this one. No, this was me Pre content. This was me sending him the stupid uh, the stupid mall. Let me see if I can find it. Oh, yeah, here we go","speaker":null,"is_sponsor":0},{"start_s":2578.16,"end_s":2582.64,"text":"Um Oh wait five north phraser away","speaker":null,"is_sponsor":0},{"start_s":2582.72,"end_s":2590.96,"text":"Honestly, it looks pretty cool One of the big problems is like the really good solutions are going to be so far out","speaker":null,"is_sponsor":0},{"start_s":2591.44,"end_s":2596.4,"text":"Um, and then they they become bad solutions for other reasons. Oh, yeah, that's right","speaker":null,"is_sponsor":0},{"start_s":2596.48,"end_s":2603.04,"text":"Locating the whole company. Okay. Hold on. You asked about empty land. Yeah, that's a big problem for empty land","speaker":null,"is_sponsor":0},{"start_s":2603.52,"end_s":2609.52,"text":"Um, is that it's all really far out. I know I've seen some locally, but it's probably like residential or something","speaker":null,"is_sponsor":0},{"start_s":2609.76,"end_s":2613.36,"text":"Smash champs Was a completed building","speaker":null,"is_sponsor":0},{"start_s":2613.84,"end_s":2621.12,"text":"When we got it Think about how long it took us just to do the tenant improvement. Oh, yeah, if we're building a building","speaker":null,"is_sponsor":0},{"start_s":2621.92,"end_s":2627.52,"text":"It's like two to three years before we will actually move into it. Just you spin up a new channel minus building tips","speaker":null,"is_sponsor":0},{"start_s":2628.24,"end_s":2636.4,"text":"lbt um I Clarkson's farm it. I can't find this for some reason. What if you don't even hire a contracting company?","speaker":null,"is_sponsor":0},{"start_s":2636.4,"end_s":2643.12,"text":"What if you are the contracting company? What if you sorry, what if you don't I got a concrete mixer? We could do that in a weekend","speaker":null,"is_sponsor":0},{"start_s":2643.2,"end_s":2649.2,"text":"Let's do it. Let's do it. We've got a laser level in logistics. It'll be fine. We can figure it out. Yeah, we'll figure it out","speaker":null,"is_sponsor":0},{"start_s":2650.24,"end_s":2653.04,"text":"All the walls are just made of conduit minus that he likes conduit","speaker":null,"is_sponsor":0},{"start_s":2653.36,"end_s":2657.6,"text":"We'll just make it out of conduit. You never have any problems running any cables. No might be a little loud","speaker":null,"is_sponsor":0},{"start_s":2658.32,"end_s":2661.04,"text":"No, you put insulation like in between the conduit in the","speaker":null,"is_sponsor":0},{"start_s":2662.0,"end_s":2667.2,"text":"Oh My god, we're figuring it out. This is why you're cto","speaker":null,"is_sponsor":0},{"start_s":2671.44,"end_s":2676.4,"text":"All right, I am I am sending myself. I'm sending myself the pdf. Here we go","speaker":null,"is_sponsor":0},{"start_s":2677.04,"end_s":2681.44,"text":"Uh What if you make a crypto coin called apples and then you mine apples?","speaker":null,"is_sponsor":0},{"start_s":2682.48,"end_s":2684.8,"text":"Oh, that's not bad a lr farming. I like it","speaker":null,"is_sponsor":0},{"start_s":2685.84,"end_s":2690.56,"text":"Nice is nice Okay, here we go. All right. Here's the brochure","speaker":null,"is_sponsor":0},{"start_s":2691.52,"end_s":2693.52,"text":"Yeah, whoa","speaker":null,"is_sponsor":0},{"start_s":2694.88,"end_s":2699.44,"text":"Yeah, yeah Wow, I mean it looks","speaker":null,"is_sponsor":0},{"start_s":2699.76,"end_s":2704.96,"text":"Really nice a hundred six thousand square feet looks like parking all the way around the building. Is that correct?","speaker":null,"is_sponsor":0},{"start_s":2705.04,"end_s":2710.48,"text":"Look at them park installs Are we are we backing a golf course?","speaker":null,"is_sponsor":0},{"start_s":2711.6,"end_s":2716.72,"text":"Wow, you just take your lunch. You go play some golf You don't need to buy newlands when you're right next to one","speaker":null,"is_sponsor":0},{"start_s":2716.72,"end_s":2722.48,"text":"What's that thing to the left of the building? What's what's I don't know. It looks like a park to me, but I","speaker":null,"is_sponsor":0}],"full_text":"My arms didn't fit in the shirt Hello Hi Great performance. Thank you. Thank you. Yeah, thank you. I took I took one semester in grade eight of drums. I'm pretty good Yeah, I Actually really liked it used to practice at home all the time But my teacher kept me on just the snare drum and I wanted to start doing full set because I was by a long shot The best drummer that we had in that class. So I was like, let me you know Let me spread my wings a little bit. Let me give it her. Let me give her and she just would not let me do it No matter what I was I was completely mastering all the tasks that she had us do with the snare drum And I was like I literally am bored Please let me do full side. Just nope never let me do it. And I was just like I hate the teacher I'm not taking this again Bailed out. I liked it a lot, but just got them Didn't do it Okay Let's just do it. Is that a microfiber shirt? You got some dirty glasses. Whoops. Uh, oh Rub your face on the shirt. It'll be great. Nice. Okay. Here we go Do you think she just didn't snare? This is slang I'm not familiar with. Care snare. Oh You that's a breach I Know it wasn't me it wasn't me there's karate swan Where are the mod mats Um in shipping I think speaking of where are the mod mats the the tall shirts sold out. Yeah We'll get more. Okay, I'm resuming the select a good job, everybody Look at the drums teacher from whiplash honestly Oh What's up everyone and welcome to the wancho we've got a fantastic show lined up for you guys today Yeah, I forget what our headline topic was so I guess Luke's gonna take it This is wild a US appeals court has sided with music publishing giants Saying that isp's should refuse service to users who are suspected of piracy Someone's gonna get their parents pretty mad in other news your vacuum is watching you and Blasting out racial epithets. Oh, oh, yeah. No, it's a whole thing. I didn't know that far Yeah, no, it's it's it's not good. Oh boy. No manufacturer thinks it's okay, but no one else does Speaking of things that are bad in some ways. Are we moving? We moving we could talk about the feasibility of that. Yeah, also you can talk to your dog now Yeah, you can talk you can talk to your dog. You're not your dog with AI You The show is brought to you today by acronis Squarespace MSI and of course our chair partner secret lab our laptop partner LG and our wrap partner D brand who wrapped our table and wrapped my phone and wrapped Yeah, yeah, they just wrap things They don't like they don't like melodious singing. They've never wrapped to you. They just wrap. Wow Nice does rap not have melodies. Nice. I mean, yeah, I can oh, that's not the point the point Is that Luke thought this was the headline topic which I find actually really interesting because it's interesting to me We've we've kind of we've kind of you want to you want to should I pull back the curtain and let them know Why I thought this would be a good headline topic What's the point of even having curtains anyway, right? Do they even match the carpet like just Not right now Um, I mean same Wow, this was quick, um And goodbye rails Oh Anyways, no, it just seemed clicky Okay, it's also like an actual discussion. Yeah. Well, that was it. That was your curtain pulling back. Yeah Cheese it seemed clicky remind me not to camp outside of your apartment with binoculars because I'm not going to see anything Okay, apparently I'd see some stuff Yeah So what I told Luke we could do on the show what I said we could do was we could go through the exercise of why it's really difficult for us to move because It's been a pain point for us for Basically the last probably three years since we got the lab We've known that we were growing out of this space that we're in right now, which is the old everything, you know studio office So we we expanded on the one side. We expanded on the other side. We hit a wall there There's a neighbor that's not selling. So that's it that this is where we are here And then we expanded to another unit elsewhere in our complex for a creator warehouse Who handles all the merch? um, and then finally we we were like, okay, well This is it. We either Need to kind of separate our operations and have different departments and different buildings kind of like we did with creator warehouse Or we need to consolidate into one gigantic building and the gigantic building was going to be really really expensive not just because it's expensive to buy a building but because The building you're going to get is going to cost an absolute fortune to build out the way that we do And there just aren't actually really that many buildings at that size is what I said back then Oh, is the market has softened a lot here in vancouver. I mean, there's Remember i'm talking industrial. I'm talking commercial. It's right still Well, well, let's have a look. Okay. Let's go through the exercise that I go through every time I'm looking at commercial real estate and I'll talk about some of the things that can be Uh, really sort of appealing and some of the things that can be really challenging and why it's so hard to find something That's the right fit For some context for viewers to write like we have if you if you think about the production team for videos That is pretty fragmented right now Literally, none of the teams that might work together are actually close to each other Even if it's writing in Labs You're at opposite ends of the building and there's a big set of stairs and many sets of doors in between And it's very likely if you're going through those doors. You're disturbing somebody in some department So it's like not really that small of a walk if you're either Labs or writing and you're talking to editing Well, I mean that's now a 10 minute walk or a two minute drive Um, how do we solve this? Well, the lego pieces don't really click together very well Um, there isn't a lot of office space in the Labs building There isn't enough space in general in the in the studio buildings. Yeah parking is a nightmare at either one of them it's just like Okay, anyways now in fairness to us It did look like the best solution for expansion at the time because building out something the way that sort of I expect us to do it for our team is really really expensive and that adds a lot to the cost of Sort of abandoning what we've got here and then consolidating somewhere else for example in the lower mainland So in in our area it is Way abnormal basically unheard of unless you are Like a food distribution company to have hVAC in your warehouse So the fact that we have heat yes, because you know, you can't it can't be so cold that devices stop working properly or whatever But having air conditioning in in a warehouse space pretty much unheard of in this area Yeah, whereas all of our warehouse spaces are heated and cooled so that you know, because we're not really using them in a warehouse capacity and we don't really have like just Warehouse, I mean, I don't know. I say that we don't just have warehouse people working in them But that honestly, I don't think that's a good excuse either. I think warehouses should probably be climate controlled Sometimes like uh, like if you're a forklift driver, you might have like a fan mounted on the forklift Sure, but like that like that doesn't make you blows Nice, um, basically what I'm trying to say is I don't really care who you are or how much money you make You're you're worth air conditioning when it's cooked when we have things called heat domes And you're in a big metal box It'd be nice to be able to cool now in fairness to a lot of the the building owners and business owners in the Vancouver area It hasn't really been a problem until probably about the last five or six years Like we used to have like one hot week a freaking summer and so whatever We're going to install tens sometimes hundreds of thousands of dollars worth of air conditioning for like that one week No, probably not, but um We've made the plunge which means that any building we move into we have to you know Put stuff like that into it which adds a lot to the buildout cost So, uh, let's take a look and let's let's talk about you know, some of some of the challenges that we run into so Colliers is one of the sites that you know, probably makes sense to use if you're looking for commercial real estate Sure, let's have a look. Oh, oh, there's the Look at this. See this is what i'm talking about luke when I would have pulled up this map Let's say let's say two years ago. That would have been nothing there would have been flipping This is such a terrible interface. Can you guys like be slightly Yeah, I have always thought like, you know, if we could if we could go back and instead of making Floatplane We should just made like realty software. I know right they pay so much for it and it's so bad It's kind of crazy freaking wild. Okay. So this is kind of the area that we'd be looking at So here's where the office is now Um, and most of the team is living in you know, kind of these are the urban centers You can tell from the the white instead of the green green is like for grass and trees and whatnot So you're gonna have people living in kind of maple ridge kind of Langley Uh, not too many people down in south Surrey just because that's like the bougie area of the not the actual city city over here That's like the the bougie burb Oh wait, you mean like, uh, potentially like employees or would you? Yeah, yeah So there's a bunch of people in south Surrey. It's just really expensive. Yeah I'm talking about like where people who commute to this office here are generally going to be coming from Little bit of Coquitlam little bit of Burnaby a little bit of like further west But the more we were to move an office Kind of this way into Burnaby marine drive or like Richmond or something like that the more expensive housing is going to get Um, so we have found that yeah that too. Uh, so we found that this is a this is a pretty good middle ground If we could be more like here that might be more better, but Okay, let's uh, so let's you're very nicely close to the highway just to give some people some context there Yeah, the the this is canada's only road. Yeah, this is the trans canada highway That's that's the road everyone memes about when they're talking about canada. Yeah, so being close to that is generally efficient for most people Okay, so let's let's have a look. Uh, this is this is what's in this area. This is hilarious. The first one that comes up is of course The court ordered sale for the uh, yeah The aspirational mall in Surrey, so wait new linds is for sale. Yeah new linds golf and country club is for sale What dude? Okay. What if? What if we what if we could bring like telemetry Golfing data and like what if we made a high tech golf course? Okay, luke and had an office there get this the combined The combined estimated value of creator warehouse The studio and the lab is probably in the neighborhood of around 25 to 30 million dollars Okay, okay Get this how much do you think new linds golf and country club is worth? It is 111 acres 100 with 90,000 square feet of building to put this for some context We're in about 40,000 square feet combined. What do you think new linds golf and country club is worth? That's like pretty nice building and there's like kitchen on site. I'm assuming that has a cost. I'm assuming they're not just ripping that out I Know I'm not gonna look at chat. Yeah, don't look at chat. Don't look at chat. They're gonna help you cheat My first hunch is like 350 350 what mill 350 mill really try 40 40 what? So, what do you think we move LMG? Let's buy new linds to new linds golf and country club wait. How is it actually is there something going on with it? Dude, I have no idea because how is it multiple times bigger than ours the facilities are like really nice Oh, man, what how is it so cheap? I have no idea So so there's there's like look like I said there's some stuff going on in the vancouver area right now How do you get 112 acres some of the big money? I think is moving is it zoning is moving out? Okay, so we'll talk about that Some of the big money though is moving out of vancouver real estate because of some of the recent changes that the trudeau administration has made to the way that Taxes on capital gains work So there has been like an emergency fire sale of some very high value assets And there's only so many buyers for up 40 million so for context that's about 30 million us dollars A little less like 29 or something like that golf-pond cooled computer right How fun would that be gaming pc in your golf cart? We could overclock one of the oh, no you don't do that with golf never much Okay, I was thinking baseball like when it shoots the So yeah, so part of this is that it does seem like there is there's a bit of There's a bit of bubble bursting going on. Yeah, I think that part of it is a demographic shift so you've got a Because realistically i'm probably one of the only people in my cohort that is like Running a small to medium, you know like like a business of this size Yeah, you know most of the businesses in our area are run by boomers And what's happening with boomers? They're retiring Right, so when you retire you either are looking to sell your your your business And retain the asset and keep collecting rent from it as like your pension Or you're looking to sell the building take a big bucket of cash Spend it on you know some other crap give it give some of it to your kids Spend some of it on like a lakefront property over on the island, you know, whatever you want You want the big bucket of cash and then you keep running the business for your pocket money instead of hookers and blow It's like cruise ships and painkillers Sorry That's good Or you're selling both pieces and you're just like screw it This is so much of a nest egg that i'm a sit on this nest egg forever Yeah, yeah, yeah So I think there's some of that happening as well And then the other big one that you already touched on is zoning. So this right here. Why am I on that? This is this is zoned essentially for operating as A golf course. Yeah, so I didn't think but because I was I was trying to think of the acreage because the That amount of acreage here if you turn that into five-story walk-ups Infinite money Oh for sure and to be clear there is some development potential you can see there's about six acres of Non-agricultural land reserve. So that means you basically can't do jack with it Like you could buy you could buy a 50 acre farm for less than like a one acre residential lot in some cases Okay, no not quite but but the point is that this agricultural land reserve land is worth functionally nothing compared to You know something that you could actually build residential or build industrial or commercial on There's a whole lot of other red flags here landmark status Oh, no, what does that mean? You don't want anything with status You don't want heritage status fair enough landmark status. I've heard of heritage status. I don't know I don't know what landmark status is. I don't care. I don't want to know that sounds terrible Basically, it means there's red tape that you're gonna have to jump through if you want to do anything other than Sit in the office there and run a golf course. Okay, what'd you find? What'd you find? Historic place. I haven't gotten anything specific yet, but the first google brings you to historic place Which i'm assuming is essentially the same thing as heritage status. Yeah, you you don't want you don't want any of that You don't want any part of that. Okay, so we're not buying a golf course because you know, well, it's stupid basically What what else we got? What else we got here? Okay, so yeah, we're not we're not buying the the city block in Surrey That's been rotting since the 90s. We talked about that last week. You're gonna find a lot of stuff that's for lease And the thing is leasing. Yeah, it's an option If you can afford to buy though The fact that we have owned this has saved us Literally literally i've liked that approach. I've supported that approach the whole time literally millions of dollars Because your landlord in in the time since we bought the first three units We paid a million dollars for three units One of those units is now worth about 1.1 or something like 1.2 It's essentially quadrupled in value Which means that if we had leased it our rent would have quadrupled Putting money in the pocket of our landlord when instead we were able to invest that money in our own equity that we can now use to cross shop something else so If you can afford to buy I'd like to buy even though with that said the market is You know Not going too great right now, but sorry once I low mac in flocking chats Yeah, we pay half a million dollars a year for our business property in portcels for our lease of our business property in portcels That's a lot of money That's a lot of freaking money half a mil and the thing about commercial leases is they are way worse than residential leases Like and I know residential rent agreements and lease agreements can be brutal They can be so burdensome for the renter Especially if you live in an area where you don't have ample protections, but commercial Whole other level they're what are called triple net Which essentially means that you pay for Your rent and they get to advertise that lease rate, which is going to be per square foot You know probably somewhere in the neighborhood of like 11 to 18 dollars a square foot depending on sort of what you're looking at So let's say 10 to 20 dollars a square foot. Then you have something called additional rent What's your additional rent go ahead and ask me What what yeah, what what is that is that like power and water? No You pay no you pay your own utilities I haven't genuinely no idea me either It's whatever it is I just pass through to you Whatever property tax I pay Whatever building maintenance I might incur now I as the landlord have to pay it up front So if the building needs a new roof I pay for the roof But then what I do is I pass the I pass the expense along to you and you pay me back Yearly in installments for that roof for my building. Oh my god. That's how commercial works, baby So, um, yeah, yeah commercial commercial leases absolutely brutal apparently additional rent Can go up by any percentage. Yeah, so additional rent is used to circumvent the maximum percentage increases for rent Uh, because if they can't increase the base rent, they just increase the additional rent by any percentage they want So it could be this is obviously not real, but it could be like 300 because they're like, uh, we need to make up for whatever Yeah Yeah, commercial uh commercial leases. I also i'm just like googling this stuff. I don't know if this is 100 true or not Don't take this as fact It's surely time says never sign a triple net lease You will not find a lease in the vancouver area that isn't triple net and that's that's even now even now that things are a bit more of a buyer's market I think our vacancy last time I looked at the the report for it was Uh, under one percent Real vacancy because some of the vacancy is not even real. It's like it's fake because it's vacant now, but it's just pending Uh, yeah, it's absolutely brutal So you pay the base rent property taxes building insurance and utilities as well as other operating and maintenance costs the landlord assumes No cost other than structural repairs and structural That means that doesn't mean roof that means like foundation the foundation essentially unless the building collapses into the sea They are not responsible for anything and that whole and you're paying the insurance by the way to cover if that happens The whole other operating cost thing is where you're getting killed because They can define anything that way. Yeah other operating costs could be I don't know the landlord decides to pay himself $40,000 of an hour. I don't know who knows. Yeah, or they hire trades that are like their buddies To do any of the work. Yeah pass that along to you. Yeah, that's not their problem Yeah Yeah, so it's a whole it's a whole thing. It it leaves itself Obviously glaringly open to abuse. Um, but that's the system we have cool. All right. What else we got? Okay. We've got residential development So not a golf course, not a city golf, not a golf course Willowbrook park is for sale brother. What is that? It's it like willowbrook like like the shop wait what like the shopping center not willowbrook mall The one like right across from it willowbrook park Willowbrook park is for sale The whole thing 200,000 square feet of retail What I know right 90 million Dude and the number of court ordered sales that I've seen recently Freaking wild Mayfair industrial is going on Okay, so this is money. Yeah So interest rates have been high for a while a long time And it takes a while because your mortgage is going to be on two year three year five year five year renewal term, right? So if you were on a fixed Mm-hmm So in um in many cases these properties are owned by people who are using them as a land bank essentially They're just parking their money in an asset that unlike cash isn't going to just inflation wrought itself into oblivion Um, theoretically, you know land um Gold crypto I'm not endorsing any of these particular assets, but typically assets Are as long as they aren't hyper volatile ones can are a safer storage of wealth than just cash because there's nobody actively trying to deflate the the value of it um So what's happening is all of a sudden If you if you don't own the property outright Like if you if you are if you're just hoping that, you know, your rent is going to cover your mortgage While the asset appreciates That calculus just like from any residential owners Is changing the second that you renew your mortgage and you're not getting essentially free debt anymore So this land bank might be appreciating although in the case of vancouver as I mentioned the market's softening So maybe isn't appreciating. It's either either not appreciating so much or it's it's just stagnating And now it's costing you way more than you thought it was so you're sitting here going. Okay. Well, there's no upside to this Let's sell willowbrook park Which should be clear something that's an outdoor mall. Yeah, that's what across the street. Yeah. Yeah, um So it's not some people were like LTT mall. It's like, yeah, I don't think it would be as interesting Yeah, yeah, not so much. Um, this one's kind of interesting. You'll you'll find a A lot of the good land has been kind of developed Off and so what's left as development opportunities is going to be a lot of these like super weird shaped sites Yeah, this is a good shape site Four acres though of it are encumbered by bc hydro easement. So you got to watch out for You got to watch out for easements Because that pretty much means two-thirds of this bc hydro, which is our our power monopoly Needs to be able to Drive on and access essentially. Yep Um, so that one. Yeah, probably not super appealing. Okay. What else what else we got here? Okay development Office units and this is this is not going to be that relevant to us. Um, yeah, yeah residential Residential you could put in property type and stuff. You could use the filter. Yeah. Yeah. Yeah. Yeah. Sure. Use the filters tech man Sure, I'll use the filters. I'll use the filters. All right. Now. Let's get uh, you know what? Let's uh Let's look at let's look at office too. Why don't we look at industrial and office LTT towers Linus tech towers Oh paved and fenced yard area. Oh, I can lease a yard. Oh, yeah, you're welcome. I'll just pay your mortgage for you Uh, what else we got? Oh, man, this is far. This is really far also small too small brand new industrial facility in pork pork equitlam This is too small. This is only about the size of the lab So if the lab was big enough, then we could do that So even now you can see with all of these options available to us there's really Not that much that would actually be suitable for us to move into unless you just yeah make your own town Dude, we don't want to be on nss island Dan's given the No, thank you. You don't want to be there. No, thank you. Hey, it's really far b. It's like the traffic Burn your nostrils out for the rest of your life and it's like the kind of the old industrial like crappy island It's like uh, uh, what's a sulfur pass any you guys play anno? Anyone play anno? Okay, so they put all the stuff that contributes to Less beautification of your island, you know, you move it all until I'll smelting. Yeah steel island That's anisys island essentially the rug of vancouver. You just push everything under there. Yeah um Okay, we can actually we can actually change our listings to just things that are for sale to kind of narrow things down a little bit Basically, there's there's not actually that much and part of the problem is that center, dude There's a big there's a big industrial park further down Like down here in campbell heights That's pretty far from any population centers because like I said most people are not living in south surrey So people are mostly living here and they're living here and they're living here Um, so the farther down south we go the more challenging it gets so campbell heights is down here There was one that seemed kind of interesting, but it keeps as you're scrolling around it keeps oh, I'm sorry the quad Uh, no that one's in campbell heights. No, it was scrolled down. It's not that mall again. Is it? No, we're not buying that mall No, no, no it was scrolled down Okay, cord ordered sale right here. I don't know where you were looking at the time. I'm so sorry luke I'm not sure. Maybe you'll see it. Uh, there is uh, there is kind of an interesting one in uh, in port calz So that's up in this area. So it's uh, it's kind of a sister building to the smash champs badminton center building This is too far Right next to smash champs would be sick I would love it, but the problem with port calz is that it is best lunch breaks crazy expensive Oh crazy Crazy expensive way out in delta. Yeah, why do I even why don't I even have delta on the map? Okay, let's get let's get delta out of here. We don't need to see anything in delta um Yeah, I think that's about it. I mean there's there's anything else you want to look at You want to ask like why not that one because I'll be happy to oh, is it this one? Uh, 192 business center. It wasn't but let's look at it. Sure. Yeah, we can look at 192 business center So this one is very similar to smash champs Pretty nice brand new building Right pretty sick. Okay. Let's have a look. Oh, look at that up to 50 000 square feet 32 foot clear ceilings lots of power 200 amps. Whoo. We'll get that uh high efficiency led lighting. It's uh brand new buildings, man Really nice. There's some very nice to haves, but There's a big problem with brand new buildings. You notice something here They talk a lot about when it's going to be complete and how many Dock and grade loading bays you've got and how close it is to highway one. Okay How close it is to the airport? Ah, okay, so here's our problem How many parking stalls do we have? Yeah, this is very common with new buildings They just don't put enough parking at all because you sell the building based on the square footage That's the calculation that everybody is doing. Yeah But the parking stalls don't count towards square footage So developers and you know what part of this is honestly probably a good thing because less parking less cars if people were Riding their bikes or taking transit more that would be awesome. I can tell you right now Uh, not a whole lot of that is happening here Yeah, um, it just it just it just isn't So so part of it is is good aspirationally if we were using more public transit But the reality now is that that would accommodate Maybe a quarter of our company right now And my understanding don't quote me on this my understanding is that beady the developer of this property Worked out a deal with the city where they didn't have to account for any street parking in their development So they were able to effectively like build right to the road Like right to the the travel areas of the road So while in the building we're in now Also has inadequate parking probably about the same ratio like a new building would have because they want to maximize the square footage They can sell Ours at least has street parking. It's not ideal. Nobody likes walking Tredging to the building through the snow or whatever in the winter fine But we have doable. Yeah. Yeah, at least there is somewhere to put your car This you'd be you'd be parking probably in the neighborhood of like five to six blocks away Which if it's anything like smash champs, which I actually did have to pace out because we were trying to figure out What parking would look like for a land event for example So at land events if we can get the city on board at smash, which by the way Oh, we can talk about that. We submitted our package to them this week We gave the city our package. Did you know we did was it well received? I think so. Nice. I think so. I think they were You asked them they admired it. Was it good for you? So so we gave them the package We could talk about that a little bit more later actually at pretty excited to talk about uh whale land, but If it's anything like smash, it's it's brutal basically It's fine if you're coming in once a quarter for an event Yeah, but if you're commuting every day and you're like hiking from your car You're gonna need like an electric scooter in your car just to do the last leg of your commute Which is a little ridiculous. So that's the problem There's a video upgrading every one of my employees cars with like a electric scooter storage Sorry keep going the older buildings will have more parking. They'll have more yard space But they will lack a lot of nice to haves that Are going to need to be upgraded that are going to cost money the newer buildings are built with the new meta Which means you get a lot of more up-to-date nice stuff good power Good led lighting they're way more efficient in terms of keeping in heat and keeping out cold that sort of thing Which is money, but they have no parking What else we got here? We don't have to do this much longer if you guys are bored underground parking. Okay, so I find this stuff Rucker asks what about underground parking over in Floatplane chat. It's very little of it here. Um, you know why? no, well Is it like the water table or something what I would Okay, so a I suspect there is something to do with that But I don't know anything about the actual engineering of it What I can tell you is that the way that property values have skyrocketed here in such a short period of time Has changed the calculus for underground parking in a big way So it would have been not that long ago that underground parking didn't make any sense here. It's really expensive It's it's it's the last quote I got was about a hundred thousand Canadian dollars per stall And that is going to be somewhat dependent on what kind of a building you're building and like whether you would have had to Like dig a big hole anyway versus if you're digging it just for the express purpose of putting cars in it um But pretty much until land values Went to the mooned here It made way more sense to do the suburbia thing and just sprawl your parking lots So what I suspect is we'll see a lot more of them in the future But they don't really exist here at least not now because it didn't make any sense It was it the land was not worth so much that it was worth digging into it in order to part of it The only thing you would see it for was apartment buildings generally. Yeah I don't necessarily know why but that was the thing. Yeah, shraft 2k says you can always add nice to ads You can't add more parking stalls. You can Yeah already rafts as a rooftop parking. Yes. Yes. That is technically possible But you're going to have to re-engineer the entire bloody structure to hold all the cars on the roof So that's going to be that's going to be requiring some budget. Yeah some budget just you know Have a have a program where Uh a certain percentage of the employee base gets gets free ubers to work I actually kind of like this one. It's really close to home. I've seen this before But part of the problem is that while it does have a hundred thousand square feet of building on it Uh, I don't think train Oh, yeah. Yeah. Yeah. Yeah. That's the rail. I mean, okay. Look Okay, let me get to that. Let me get to that. It has a hundred thousand square feet of building on it But those are the buildings Uh, we ain't using those buildings. No, this is what we call in the biz a tear down So that would help, you know with mitigating train noise is you could you know, double insulate your walls or whatever else Like you could you could actually solve it. It won't solve it, but it would it would do a lot um But the cost of this because you're essentially buying $100,000 worth of buildings that um, you are going to then wrecked uh Makes this just not make any sense. I don't even think they have a price quoted on this one I might have asked at some point, but I can't remember But yeah, this one's uh Yeah, interesting, but unfortunately, you know, what's also cool about this one is it's over the 196 street border Which means that we'd be eligible for more film and production services tax credits I suspect whoever's selling it is hoping that whoever buys it wants the buildings to just store Stuff from the trains in so they don't they don't need to be nice Yeah Unfortunately, that's not me So Get wrecked to me. Yeah. Yeah, someone asked this Um, and I I can think of some reasons why this might be rough, but there is there are examples of this around the area but empty land Yeah, there's not much and a lot of what is a lot of what's empty land is a lr So you'll you'll see it you'll look at it and you'll be like, oh, yeah Look how many buildings we could put here. What what if we made? I Mean there's clarkson's farm It's doing very well. What about a server farm? What if we had line? Oh, what if we had Linus's farm? Ding the thing. Uh, you have to ding your own thing What if we did Linus's farm? What's like, what's the minimum we would need to farm? It could be fine. You can do things like chickens and it's like whatever six pigs or something It's less that how much minimum we would need to farm and it's more how much maximum other things could we do there We couldn't have a production studio on a farm because That would devalue the the production studio zoned land that somebody else bought before also pretty much all of our farmland in the lower mainland is uh floodplain and I don't know about you, but i'm not super into buying things that are going to be underwater soon Or could be underwater soon and we have had some very significant floods here Our our only road was wiped out for a substantial amount of time. Yeah because of Basically a lake that we were we unlaked and then it decided to relake itself It's fun when things relake themselves. Yeah Breweries on alr with their own hops have issues with the alr. Yeah. Yeah. I mean I could see that No of a not small amount of people in bc That are aggressively skirting alr rules and I think if someone from the alr Just took a little drive around a lot of places in bc And cared at all a lot of people would lose their their setups Um, so it makes me care less when it feels like more than half of it is being abused Um, and it makes me want to do it ourselves. I get such a kick out of the gigantic Mansions the omega mansions on farmland with no farming going on ever like this is oh, we got him going We got him going here boys. Here we go. Here we go at least my my biggest thing is like you should at least f***ing attempt You should at least try Put something there. Why is it just open grass field? You don't have horses. There's no F***ing horses. There's nothing else. You're doing nothing. How do they get away with this? I know the whole flip. I've heard the stories I know the flip of you you bring an outside company to plant some junk and then you have them also come pick it And you make zero dollars off of it But the whole thing is so that you can have your stupid Probably disgusting looking terribly designed building on this plot of land in the middle of nowhere That you'd live in and do nothing else and probably don't see anyone because you're xenophobic for some reason. Anyways, um I hate Anyways, um, wow, but it's all just it's all a joke I've also heard that a huge percentage of that crop just gets thrown away Because it's not just growing whatever. They're not growing based on what we need. They're growing based on And it's not being properly treated It's just being planted and then pulled out of the ground at the end of the season Right. Yeah, that makes sense. So like it's a lot of it's junk. Like it's just it's this clear obvious Insane charade and there's parts of bc that you can literally drive around for a very long time Where you're just going mansion with no farm Mansion with no farm mansion with no farm mansion with no farm for like ever It's it just it really makes you not surprised when you drive around farmland in bc Figuring out that there's more corruption in bc than like practically anywhere because you're like I wonder where do all the people live that that have all this corruption and then you drive around what should be farmland And you're like, oh, it's uh, oops all mansions like okay. Anyways Yeah All right Yeah Good chat. I'll relax. So anyway, uh, we still have our ear to the ground And I suspect I'm talking as much to our staff as I am to our viewers at this point We still have our ear to the ground, but it's it's a challenge. Um Taren sent me one actually the other day that looked pretty cool Um, it's a little far from my house Which I'm not a huge fan of Um move More videos more videos. It would be far from a lot of people. You have to set up your new house Uh, I really don't want to move Um Here let's see if I can oh wait not this one. No, this was me Pre content. This was me sending him the stupid uh, the stupid mall. Let me see if I can find it. Oh, yeah, here we go Um Oh wait five north phraser away Honestly, it looks pretty cool One of the big problems is like the really good solutions are going to be so far out Um, and then they they become bad solutions for other reasons. Oh, yeah, that's right Locating the whole company. Okay. Hold on. You asked about empty land. Yeah, that's a big problem for empty land Um, is that it's all really far out. I know I've seen some locally, but it's probably like residential or something Smash champs Was a completed building When we got it Think about how long it took us just to do the tenant improvement. Oh, yeah, if we're building a building It's like two to three years before we will actually move into it. Just you spin up a new channel minus building tips lbt um I Clarkson's farm it. I can't find this for some reason. What if you don't even hire a contracting company? What if you are the contracting company? What if you sorry, what if you don't I got a concrete mixer? We could do that in a weekend Let's do it. Let's do it. We've got a laser level in logistics. It'll be fine. We can figure it out. Yeah, we'll figure it out All the walls are just made of conduit minus that he likes conduit We'll just make it out of conduit. You never have any problems running any cables. No might be a little loud No, you put insulation like in between the conduit in the Oh My god, we're figuring it out. This is why you're cto All right, I am I am sending myself. I'm sending myself the pdf. Here we go Uh What if you make a crypto coin called apples and then you mine apples? Oh, that's not bad a lr farming. I like it Nice is nice Okay, here we go. All right. Here's the brochure Yeah, whoa Yeah, yeah Wow, I mean it looks Really nice a hundred six thousand square feet looks like parking all the way around the building. Is that correct? Look at them park installs Are we are we backing a golf course? Wow, you just take your lunch. You go play some golf You don't need to buy newlands when you're right next to one What's that thing to the left of the building? What's what's I don't know. It looks like a park to me, but I"}