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My arms didn't fit in the shirt

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Hello Hi

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Great performance. Thank you. Thank you. Yeah, thank you. I took I took one semester in grade eight of drums. I'm pretty good

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Yeah, I Actually really liked it used to practice at home all the time

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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

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The best drummer that we had in that class. So I was like, let me you know

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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

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No matter what I was I was completely mastering all the tasks that she had us do with the snare drum

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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

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I'm not taking this again Bailed out. I liked it a lot, but just got them

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Didn't do it Okay

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Let's just do it. Is that a microfiber shirt? You got some dirty glasses. Whoops. Uh, oh

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Rub your face on the shirt. It'll be great. Nice. Okay. Here we go

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Do you think she just didn't snare?

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This is slang I'm not familiar with. Care snare. Oh

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You that's a breach I

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Know it wasn't me it wasn't me there's karate swan

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Where are the mod mats

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Um in shipping I think speaking of where are the mod mats the the tall shirts sold out. Yeah

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We'll get more. Okay, I'm resuming the select a good job, everybody

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Look at the drums teacher from whiplash honestly Oh

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What's up everyone and welcome to the wancho we've got a fantastic show lined up for you guys today

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Yeah, I forget what our headline topic was so I guess Luke's gonna take it

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This is wild a

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US appeals court has sided with music publishing giants

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Saying that isp's should refuse service to users who are suspected of piracy

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Someone's gonna get their parents pretty mad in other news your vacuum is watching you and

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Blasting out racial epithets. Oh, oh, yeah. No, it's a whole thing. I didn't know that far

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Yeah, no, it's it's it's not good. Oh boy. No manufacturer thinks it's okay, but no one else does

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Speaking of things that are bad in some ways. Are we moving?

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We moving we could talk about the feasibility of that. Yeah, also you can talk to your dog now

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Yeah, you can talk you can talk to your dog. You're not your dog with AI

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You

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The show is brought to you today by acronis Squarespace

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MSI and of course our chair partner secret lab our laptop partner LG and our wrap partner

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D brand who wrapped our table and wrapped my phone and wrapped

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Yeah, yeah, they just wrap things

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They don't like they don't like melodious singing. They've never wrapped to you. They just wrap. Wow

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Nice does rap not have melodies. Nice. I mean, yeah, I can oh, that's not the point the point

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Is that Luke thought this was the headline topic which I find actually really interesting because it's interesting to me

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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

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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

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Not right now Um, I mean same

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Wow, this was quick, um

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And goodbye rails Oh

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Anyways, no, it just seemed clicky

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Okay, it's also like an actual discussion. Yeah. Well, that was it. That was your curtain pulling back. Yeah

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Cheese it seemed clicky remind me not to camp outside of your apartment with binoculars because I'm not going to see anything

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Okay, apparently I'd see some stuff

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Yeah

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So what I told Luke we could do on the show what I said we could do was we could go through the

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exercise of why it's really difficult for us to move because

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It's been a pain point for us for

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Basically the last probably three years since we got the lab

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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

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So we we expanded on the one side. We expanded on the other side. We hit a wall there

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There's a neighbor that's not selling. So that's it that this is where we are here

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And then we expanded to another unit elsewhere in our complex for a creator warehouse

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Who handles all the merch? um, and then finally we we were like, okay, well

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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

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Or we need to consolidate into one gigantic building and the gigantic building was

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going to be really really expensive not just because it's expensive to buy a building but because

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The building you're going to get is going to cost an absolute fortune to build out the way that we do

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And there just aren't actually really that many buildings at that size is what I said back then

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Oh, is the market has softened a lot here in vancouver. I mean, there's

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Remember i'm talking industrial. I'm talking commercial. It's right still

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Well, well, let's have a look. Okay. Let's go through the exercise that I go through every time

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I'm looking at commercial real estate and I'll talk about some of the things that can be

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Uh, really sort of appealing and some of the things that can be really challenging and why it's so hard to find something

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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

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That is pretty fragmented right now Literally, none of the teams that might work together are actually close to each other

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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

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And it's very likely if you're going through those doors. You're disturbing somebody in some department

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So it's like not really that small of a walk if you're either Labs or writing and you're talking to editing

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Well, I mean that's now a 10 minute walk or a two minute drive

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Um, how do we solve this? Well, the lego pieces don't really click together very well

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Um, there isn't a lot of office space in the Labs building

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There isn't enough space in general in the in the studio buildings. Yeah parking is a nightmare at either one of them

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it's just like Okay, anyways

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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

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I expect us to do it for our team is really really expensive and that adds a lot to the cost of

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Sort of abandoning what we've got here and then consolidating somewhere else for example in the lower mainland

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So in in our area it is Way abnormal basically unheard of unless you are

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Like a food distribution company to have hVAC in your warehouse

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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

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But having air conditioning in in a warehouse space pretty much unheard of in this area

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Yeah, whereas all of our warehouse spaces are heated and cooled so that you know, because we're not really using them in a

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warehouse capacity and we don't really have like just

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Warehouse, I mean, I don't know. I say that we don't just have warehouse people working in them

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But that honestly, I don't think that's a good excuse either. I think warehouses should probably be climate controlled

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Sometimes like uh, like if you're a forklift driver, you might have like a fan mounted on the forklift

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Sure, but like that like that doesn't make you blows

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Nice, um, basically what I'm trying to say is I don't really care who you are or how much money you make

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You're you're worth air conditioning when it's cooked when we have things called heat domes

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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

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It hasn't really been a problem until probably about the last five or six years

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Like we used to have like one hot week a freaking summer and so whatever

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We're going to install tens sometimes hundreds of thousands of dollars worth of air conditioning for like that one week

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No, probably not, but um We've made the plunge which means that any building we move into we have to you know

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Put stuff like that into it which adds a lot to the buildout cost

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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

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Colliers is one of the sites that you know, probably makes sense to use if you're looking for commercial real estate

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Sure, let's have a look. Oh, oh, there's the

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Look at this. See this is what i'm talking about luke when I would have pulled up this map

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Let's say let's say two years ago. That would have been nothing there would have been flipping

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This is such a terrible interface. Can you guys like be slightly

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Yeah, I have always thought like, you know, if we could if we could go back and instead of making Floatplane

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We should just made like realty software. I know right they pay so much for it and it's so bad

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It's kind of crazy freaking wild. Okay. So this is kind of the area that we'd be looking at

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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

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You can tell from the the white instead of the green green is like for grass and trees and whatnot

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So you're gonna have people living in kind of maple ridge kind of Langley

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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

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That's like the the bougie burb Oh wait, you mean like, uh, potentially like employees or would you? Yeah, yeah

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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

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Little bit of Coquitlam little bit of Burnaby a little bit of like further west

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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

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Um, so we have found that yeah that too. Uh, so we found that this is a this is a pretty good middle ground

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If we could be more like here that might be more better, but

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Okay, let's uh, so let's you're very nicely close to the highway just to give some people some context there

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Yeah, the the this is canada's only road. Yeah, this is the trans canada highway

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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

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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

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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

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What dude? Okay. What if?

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What if we what if we could bring like telemetry

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Golfing data and like what if we made a high tech golf course? Okay, luke and had an office there get this

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the combined The combined estimated value of creator warehouse

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The studio and the lab is probably in the neighborhood of around 25 to 30 million dollars

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Okay, okay Get this how much do you think new linds golf and country club is worth?

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It is 111 acres 100 with 90,000 square feet of building to put this for some context

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We're in about 40,000 square feet combined. What do you think new linds golf and country club is worth?

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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

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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

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My first hunch is like 350 350 what mill 350 mill really try 40 40 what?

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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?

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Dude, I have no idea because how is it multiple times bigger than ours the facilities are like really nice

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Oh, man, what how is it so cheap? I have no idea

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So so there's there's like look like I said there's some stuff going on in the vancouver area right now

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How do you get 112 acres some of the big money? I think is moving is it zoning is moving out?

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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

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the way that Taxes on capital gains work

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So there has been like an emergency fire sale of some very high value assets

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And there's only so many buyers for up 40 million so for context that's about 30 million us dollars

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A little less like 29 or something like that golf-pond cooled computer

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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

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Okay, I was thinking baseball like when it shoots the

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So yeah, so part of this is that it does seem like there is there's a bit of

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There's a bit of bubble bursting going on. Yeah, I think that part of it is a demographic shift

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so you've got a Because realistically i'm probably one of the only people in my cohort that is like

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Running a small to medium, you know like like a business of this size

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Yeah, you know most of the businesses in our area are run by boomers

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And what's happening with boomers? They're retiring

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Right, so when you retire you either are looking to sell your your your business

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And retain the asset and keep collecting rent from it as like your pension

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Or you're looking to sell the building take a big bucket of cash

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Spend it on you know some other crap give it give some of it to your kids

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Spend some of it on like a lakefront property over on the island, you know, whatever you want

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You want the big bucket of cash and then you keep running the business for your pocket money instead of hookers and blow

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It's like cruise ships and painkillers

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Sorry

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That's good Or you're selling both pieces and you're just like screw it

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This is so much of a nest egg that i'm a sit on this nest egg forever

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Yeah, yeah, yeah So I think there's some of that happening as well

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And then the other big one that you already touched on is zoning. So this right here. Why am I on that?

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This is this is zoned essentially for operating as

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A golf course. Yeah, so I didn't think but because I was I was trying to think of the acreage because the

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That amount of acreage here if you turn that into five-story walk-ups

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Infinite money Oh for sure and to be clear there is some development potential you can see there's about six acres of

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Non-agricultural land reserve. So that means you basically can't do jack with it

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Like you could buy you could buy a 50 acre farm for less than like a one acre residential lot in some cases

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Okay, no not quite but but the point is that this agricultural land reserve land is worth

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functionally nothing compared to

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You know something that you could actually build residential or build industrial or commercial on

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There's a whole lot of other red flags here landmark status

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Oh, no, what does that mean? You don't want anything with status

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You don't want heritage status fair enough landmark status. I've heard of heritage status. I don't know

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I don't know what landmark status is. I don't care. I don't want to know that sounds terrible

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Basically, it means there's red tape that you're gonna have to jump through if you want to do anything other than

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Sit in the office there and run a golf course. Okay, what'd you find? What'd you find?

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Historic place. I haven't gotten anything specific yet, but the first google brings you to historic place

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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

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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

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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

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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

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And the thing is leasing. Yeah, it's an option

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If you can afford to buy though

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The fact that we have owned this has saved us

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Literally literally i've liked that approach. I've supported that approach the whole time literally millions of dollars

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Because your landlord in in the time since we bought the first three units

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We paid a million dollars for three units

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One of those units is now worth about

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1.1 or something like 1.2 It's essentially quadrupled in value

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Which means that if we had leased it our rent would have quadrupled

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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

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use to cross shop something else so If you can afford to buy

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I'd like to buy even though with that said the market is

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You know Not going too great right now, but sorry once I low mac in flocking chats

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Yeah, we pay half a million dollars a year for our business property in portcels for our lease of our business property in portcels

200
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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

201
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Like and I know residential rent agreements and lease agreements can be brutal

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They can be so burdensome for the renter

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Especially if you live in an area where you don't have ample protections, but commercial

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Whole other level they're what are called triple net

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Which essentially means that you pay for

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Your rent and they get to advertise that lease rate, which is going to be per square foot

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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

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So let's say 10 to 20 dollars a square foot. Then you have something called additional rent

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What's your additional rent go ahead and ask me What what yeah, what what is that is that like power and water? No

210
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You pay no you pay your own utilities I haven't genuinely no idea me either

211
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It's whatever it is I just pass through to you

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Whatever property tax I pay Whatever building maintenance I might incur now I as the landlord have to pay it up front

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So if the building needs a new roof I pay for the roof

214
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But then what I do is I pass the I pass the expense along to you and you pay me back

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Yearly in installments for that roof for my building. Oh my god. That's how commercial works, baby

216
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So, um, yeah, yeah commercial commercial leases absolutely brutal apparently additional rent

217
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Can go up by any percentage. Yeah, so additional rent is used to circumvent the maximum percentage increases for rent

218
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Uh, because if they can't increase the base rent, they just increase the additional rent by any percentage they want

219
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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

220
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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

221
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Don't take this as fact It's surely time says never sign a triple net lease

222
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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

223
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of a buyer's market I think our vacancy last time I looked at the the report for it was

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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

225
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Uh, yeah, it's absolutely brutal

226
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So you pay the base rent property taxes building insurance and utilities as well as other operating and maintenance costs the landlord assumes

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No cost other than structural repairs and structural

228
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That means that doesn't mean roof that means like foundation the foundation essentially unless the building collapses into the sea

229
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They are not responsible for anything and that whole and you're paying the insurance by the way to cover if that happens

230
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The whole other operating cost thing is where you're getting killed because

231
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They can define anything that way. Yeah other operating costs could be

232
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I don't know the landlord decides to pay himself

233
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$40,000 of an hour. I don't know who knows. Yeah, or they hire trades that are like their buddies

234
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To do any of the work. Yeah pass that along to you. Yeah, that's not their problem

235
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Yeah Yeah, so it's a whole it's a whole thing. It it leaves itself

236
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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

237
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So not a golf course, not a city golf, not a golf course Willowbrook park is for sale brother. What is that?

238
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It's it like willowbrook like like the shop wait what like the shopping center not willowbrook mall

239
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The one like right across from it willowbrook park Willowbrook park is for sale

240
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The whole thing 200,000 square feet of retail

241
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What I know right 90 million

242
00:24:07,760 --> 00:24:11,280
Dude and the number of court ordered sales that I've seen recently

243
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Freaking wild Mayfair industrial is going on

244
00:24:18,000 --> 00:24:20,560
Okay, so this is money. Yeah

245
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So interest rates have been high for a while a long time

246
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And it takes a while because your mortgage is going to be on two year three year five year five year renewal term, right?

247
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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

248
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They're just parking their money in an asset that unlike cash isn't going to just inflation wrought itself into oblivion

249
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Um, theoretically, you know land um

250
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Gold crypto I'm not endorsing any of these particular assets, but typically assets

251
00:25:00,400 --> 00:25:08,080
Are as long as they aren't hyper volatile ones can are a safer storage of wealth than just cash because there's nobody

252
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actively trying to deflate the the value of it

253
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um So what's happening is all of a sudden

254
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If you if you don't own the property outright

255
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Like if you if you are if you're just hoping that, you know, your rent is going to cover your mortgage

256
00:25:26,400 --> 00:25:31,360
While the asset appreciates That calculus just like from any residential owners

257
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Is changing the second that you renew your mortgage and you're not getting essentially free debt anymore

258
00:25:37,760 --> 00:25:43,680
So this land bank might be appreciating although in the case of vancouver as I mentioned the market's softening

259
00:25:44,080 --> 00:25:49,360
So maybe isn't appreciating. It's either either not appreciating so much or it's it's just stagnating

260
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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

261
00:25:56,480 --> 00:25:58,480
Let's sell willowbrook park

262
00:26:00,240 --> 00:26:04,400
Which should be clear something that's an outdoor mall. Yeah, that's what across the street. Yeah. Yeah, um

263
00:26:05,680 --> 00:26:09,680
So it's not some people were like LTT mall. It's like, yeah, I don't think it would be as interesting

264
00:26:09,760 --> 00:26:13,680
Yeah, yeah, not so much. Um, this one's kind of interesting. You'll you'll find a

265
00:26:14,480 --> 00:26:17,840
A lot of the good land has been kind of developed

266
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Off and so what's left as development opportunities is going to be a lot of these like super weird shaped sites

267
00:26:25,280 --> 00:26:27,280
Yeah, this is a good shape site

268
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Four acres though of it are encumbered by bc hydro easement. So you got to watch out for

269
00:26:35,120 --> 00:26:43,280
You got to watch out for easements Because that pretty much means two-thirds of this bc hydro, which is our our power monopoly

270
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Needs to be able to Drive on and access essentially. Yep

271
00:26:48,640 --> 00:26:53,360
Um, so that one. Yeah, probably not super appealing. Okay. What else what else we got here?

272
00:26:54,000 --> 00:27:02,080
Okay development Office units and this is this is not going to be that relevant to us. Um, yeah, yeah residential

273
00:27:02,880 --> 00:27:08,640
Residential you could put in property type and stuff. You could use the filter. Yeah. Yeah. Yeah. Yeah. Sure. Use the filters tech man

274
00:27:09,040 --> 00:27:13,840
Sure, I'll use the filters. I'll use the filters. All right. Now. Let's get uh, you know what? Let's uh

275
00:27:14,480 --> 00:27:19,520
Let's look at let's look at office too. Why don't we look at industrial and office LTT towers Linus tech towers

276
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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

277
00:27:28,640 --> 00:27:32,960
Uh, what else we got? Oh, man, this is far. This is really far also small

278
00:27:33,680 --> 00:27:37,120
too small brand new industrial facility in pork pork equitlam

279
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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

280
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So even now you can see with all of these options available to us

281
00:27:49,200 --> 00:27:58,160
there's really Not that much that would actually be suitable for us to move into unless you just yeah make your own town

282
00:27:58,480 --> 00:28:00,480
Dude, we don't want to be on nss island

283
00:28:02,480 --> 00:28:09,600
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

284
00:28:10,160 --> 00:28:15,600
Burn your nostrils out for the rest of your life and it's like the kind of the old industrial like crappy island

285
00:28:15,680 --> 00:28:20,000
It's like uh, uh, what's a sulfur pass any you guys play anno? Anyone play anno?

286
00:28:20,240 --> 00:28:23,520
Okay, so they put all the stuff that contributes to

287
00:28:24,080 --> 00:28:29,520
Less beautification of your island, you know, you move it all until I'll smelting. Yeah steel island

288
00:28:29,920 --> 00:28:34,240
That's anisys island essentially the rug of vancouver. You just push everything under there. Yeah

289
00:28:35,040 --> 00:28:42,240
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

290
00:28:43,200 --> 00:28:48,560
Basically, there's there's not actually that much and part of the problem is that center, dude

291
00:28:48,800 --> 00:28:52,480
There's a big there's a big industrial park further down

292
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Like down here in campbell heights

293
00:28:56,160 --> 00:29:01,280
That's pretty far from any population centers because like I said most people are not living in south surrey

294
00:29:01,680 --> 00:29:06,560
So people are mostly living here and they're living here and they're living here

295
00:29:07,120 --> 00:29:12,880
Um, so the farther down south we go the more challenging it gets so campbell heights is down here

296
00:29:15,520 --> 00:29:19,760
There was one that seemed kind of interesting, but it keeps as you're scrolling around it keeps oh, I'm sorry the quad

297
00:29:20,080 --> 00:29:26,160
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

298
00:29:26,240 --> 00:29:34,960
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

299
00:29:35,120 --> 00:29:41,280
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

300
00:29:41,680 --> 00:29:47,920
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

301
00:29:48,720 --> 00:29:52,320
This is too far Right next to smash champs would be sick

302
00:29:52,400 --> 00:29:57,760
I would love it, but the problem with port calz is that it is best lunch breaks crazy expensive

303
00:29:58,000 --> 00:30:05,120
Oh crazy Crazy expensive way out in delta. Yeah, why do I even why don't I even have delta on the map?

304
00:30:05,200 --> 00:30:08,160
Okay, let's get let's get delta out of here. We don't need to see anything in delta

305
00:30:08,880 --> 00:30:15,120
um Yeah, I think that's about it. I mean there's there's anything else you want to look at

306
00:30:15,200 --> 00:30:18,880
You want to ask like why not that one because I'll be happy to oh, is it this one?

307
00:30:19,440 --> 00:30:24,240
Uh, 192 business center. It wasn't but let's look at it. Sure. Yeah, we can look at 192 business center

308
00:30:24,240 --> 00:30:26,800
So this one is very similar to smash champs

309
00:30:28,640 --> 00:30:39,600
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

310
00:30:40,160 --> 00:30:47,120
200 amps. Whoo. We'll get that uh high efficiency led lighting. It's uh brand new buildings, man

311
00:30:47,760 --> 00:30:50,640
Really nice. There's some very nice to haves, but

312
00:30:51,200 --> 00:30:55,040
There's a big problem with brand new buildings. You notice something here

313
00:30:55,600 --> 00:30:59,040
They talk a lot about when it's going to be complete and how many

314
00:30:59,680 --> 00:31:04,960
Dock and grade loading bays you've got and how close it is to highway one. Okay

315
00:31:06,160 --> 00:31:10,800
How close it is to the airport? Ah, okay, so here's our problem

316
00:31:13,040 --> 00:31:15,280
How many parking stalls do we have?

317
00:31:16,640 --> 00:31:24,720
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

318
00:31:25,440 --> 00:31:28,960
That's the calculation that everybody is doing. Yeah

319
00:31:30,080 --> 00:31:33,200
But the parking stalls don't count towards square footage

320
00:31:33,520 --> 00:31:41,120
So developers and you know what part of this is honestly probably a good thing because less parking less cars if people were

321
00:31:41,520 --> 00:31:46,240
Riding their bikes or taking transit more that would be awesome. I can tell you right now

322
00:31:46,880 --> 00:31:49,680
Uh, not a whole lot of that is happening here

323
00:31:50,400 --> 00:31:53,440
Yeah, um, it just it just it just isn't

324
00:31:54,080 --> 00:31:58,480
So so part of it is is good aspirationally if we were using more public transit

325
00:31:59,040 --> 00:32:03,840
But the reality now is that that would accommodate

326
00:32:04,720 --> 00:32:07,840
Maybe a quarter of our company right now

327
00:32:08,640 --> 00:32:14,560
And my understanding don't quote me on this my understanding is that beady the developer of this property

328
00:32:14,880 --> 00:32:21,120
Worked out a deal with the city where they didn't have to account for any street parking in their development

329
00:32:21,680 --> 00:32:24,560
So they were able to effectively like build right to the road

330
00:32:24,960 --> 00:32:29,920
Like right to the the travel areas of the road So while in the building we're in now

331
00:32:30,400 --> 00:32:36,560
Also has inadequate parking probably about the same ratio like a new building would have because they want to maximize the square footage

332
00:32:36,560 --> 00:32:42,640
They can sell Ours at least has street parking. It's not ideal. Nobody likes walking

333
00:32:42,880 --> 00:32:45,600
Tredging to the building through the snow or whatever in the winter fine

334
00:32:46,800 --> 00:32:50,560
But we have doable. Yeah. Yeah, at least there is somewhere to put your car

335
00:32:50,640 --> 00:32:54,640
This you'd be you'd be parking probably in the neighborhood of like five to six blocks away

336
00:32:55,120 --> 00:32:59,920
Which if it's anything like smash champs, which I actually did have to pace out because we were trying to figure out

337
00:33:00,240 --> 00:33:06,480
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

338
00:33:06,720 --> 00:33:10,000
Oh, we can talk about that. We submitted our package to them this week

339
00:33:10,480 --> 00:33:17,920
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

340
00:33:18,400 --> 00:33:21,120
You asked them they admired it. Was it good for you?

341
00:33:22,720 --> 00:33:30,560
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

342
00:33:31,440 --> 00:33:34,880
If it's anything like smash, it's it's brutal basically

343
00:33:35,520 --> 00:33:41,200
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

344
00:33:41,200 --> 00:33:44,320
You're gonna need like an electric scooter in your car just to do the last leg of your commute

345
00:33:45,040 --> 00:33:52,720
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

346
00:33:54,560 --> 00:33:58,640
Sorry keep going the older buildings will have more parking. They'll have more yard space

347
00:33:59,040 --> 00:34:01,760
But they will lack a lot of nice to haves that

348
00:34:02,320 --> 00:34:07,520
Are going to need to be upgraded that are going to cost money the newer buildings are built with the new meta

349
00:34:08,080 --> 00:34:11,440
Which means you get a lot of more up-to-date nice stuff good power

350
00:34:12,240 --> 00:34:17,280
Good led lighting they're way more efficient in terms of keeping in heat and keeping out cold that sort of thing

351
00:34:17,680 --> 00:34:20,000
Which is money, but they have no

352
00:34:20,720 --> 00:34:24,320
parking What else we got here?

353
00:34:24,960 --> 00:34:28,640
We don't have to do this much longer if you guys are bored underground parking. Okay, so I find this stuff

354
00:34:28,880 --> 00:34:34,080
Rucker asks what about underground parking over in Floatplane chat. It's very little of it here. Um, you know why?

355
00:34:34,640 --> 00:34:38,800
no, well Is it like the water table or something what I would

356
00:34:39,360 --> 00:34:44,560
Okay, so a I suspect there is something to do with that But I don't know anything about the actual engineering of it

357
00:34:44,960 --> 00:34:51,280
What I can tell you is that the way that property values have skyrocketed here in such a short period of time

358
00:34:51,760 --> 00:34:56,000
Has changed the calculus for underground parking in a big way

359
00:34:56,480 --> 00:35:02,000
So it would have been not that long ago that underground parking didn't make any sense here. It's really expensive

360
00:35:02,240 --> 00:35:07,200
It's it's it's the last quote I got was about a hundred thousand Canadian dollars per stall

361
00:35:07,600 --> 00:35:12,960
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

362
00:35:13,040 --> 00:35:17,920
Like dig a big hole anyway versus if you're digging it just for the express purpose of putting cars in it

363
00:35:18,400 --> 00:35:22,000
um But pretty much

364
00:35:22,000 --> 00:35:26,640
until land values Went to the mooned here

365
00:35:26,720 --> 00:35:31,600
It made way more sense to do the suburbia thing and just sprawl your parking lots

366
00:35:32,000 --> 00:35:34,480
So what I suspect is we'll see a lot more of them in the future

367
00:35:35,040 --> 00:35:40,000
But they don't really exist here at least not now because it didn't make any sense

368
00:35:40,080 --> 00:35:44,640
It was it the land was not worth so much that it was worth digging into it in order to part of it

369
00:35:44,640 --> 00:35:47,200
The only thing you would see it for was apartment buildings generally. Yeah

370
00:35:48,160 --> 00:35:52,400
I don't necessarily know why but that was the thing. Yeah, shraft 2k says you can always add nice to ads

371
00:35:52,400 --> 00:36:00,160
You can't add more parking stalls. You can Yeah already rafts as a rooftop parking. Yes. Yes. That is technically possible

372
00:36:00,160 --> 00:36:04,640
But you're going to have to re-engineer the entire bloody structure to hold all the cars on the roof

373
00:36:04,640 --> 00:36:10,720
So that's going to be that's going to be requiring some budget. Yeah some budget just you know

374
00:36:10,960 --> 00:36:18,400
Have a have a program where Uh a certain percentage of the employee base gets gets free ubers to work

375
00:36:19,200 --> 00:36:22,880
I actually kind of like this one. It's really close to home. I've seen this before

376
00:36:23,760 --> 00:36:27,840
But part of the problem is that while it does have a hundred thousand square feet of building on it

377
00:36:28,400 --> 00:36:34,000
Uh, I don't think train Oh, yeah. Yeah. Yeah. Yeah. That's the rail. I mean, okay. Look

378
00:36:34,720 --> 00:36:38,240
Okay, let me get to that. Let me get to that. It has a hundred thousand square feet of building on it

379
00:36:38,480 --> 00:36:46,720
But those are the buildings Uh, we ain't using those buildings. No, this is what we call in the biz a tear down

380
00:36:47,200 --> 00:36:53,360
So that would help, you know with mitigating train noise is you could you know, double insulate your walls or whatever else

381
00:36:53,360 --> 00:36:57,200
Like you could you could actually solve it. It won't solve it, but it would it would do a lot

382
00:36:57,600 --> 00:37:01,040
um But the cost of this because you're essentially buying

383
00:37:02,080 --> 00:37:05,840
$100,000 worth of buildings that um, you are going to then

384
00:37:06,800 --> 00:37:12,800
wrecked uh Makes this just not make any sense. I don't even think they have a price quoted on this one

385
00:37:12,880 --> 00:37:17,600
I might have asked at some point, but I can't remember But yeah, this one's uh

386
00:37:17,600 --> 00:37:23,600
Yeah, interesting, but unfortunately, you know, what's also cool about this one is it's over the 196 street border

387
00:37:23,840 --> 00:37:27,360
Which means that we'd be eligible for more film and production services tax credits

388
00:37:27,680 --> 00:37:32,560
I suspect whoever's selling it is hoping that whoever buys it wants the buildings to just store

389
00:37:32,960 --> 00:37:36,000
Stuff from the trains in so they don't they don't need to be nice

390
00:37:37,440 --> 00:37:40,960
Yeah Unfortunately, that's not me

391
00:37:41,520 --> 00:37:45,760
So Get wrecked to me. Yeah. Yeah, someone asked this

392
00:37:46,400 --> 00:37:51,920
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

393
00:37:52,000 --> 00:37:59,360
but empty land Yeah, there's not much and a lot of what is a lot of what's empty land is a lr

394
00:37:59,440 --> 00:38:01,920
So you'll you'll see it you'll look at it and you'll be like, oh, yeah

395
00:38:02,640 --> 00:38:06,240
Look how many buildings we could put here. What what if we made?

396
00:38:06,240 --> 00:38:10,640
I Mean there's clarkson's farm

397
00:38:11,040 --> 00:38:16,800
It's doing very well. What about a server farm? What if we had line? Oh, what if we had Linus's farm?

398
00:38:17,040 --> 00:38:19,440
Ding the thing. Uh, you have to ding your own thing

399
00:38:20,720 --> 00:38:24,160
What if we did Linus's farm? What's like, what's the minimum we would need to farm?

400
00:38:24,960 --> 00:38:29,360
It could be fine. You can do things like chickens and it's like whatever six pigs or something

401
00:38:29,440 --> 00:38:36,160
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

402
00:38:37,120 --> 00:38:40,320
We couldn't have a production studio on a farm because

403
00:38:40,960 --> 00:38:47,360
That would devalue the the production studio zoned land that somebody else bought before

404
00:38:48,240 --> 00:38:54,160
also pretty much all of our farmland in the lower mainland is uh floodplain and

405
00:38:55,040 --> 00:39:00,720
I don't know about you, but i'm not super into buying things that are going to be underwater soon

406
00:39:02,000 --> 00:39:06,400
Or could be underwater soon and we have had some very significant floods here

407
00:39:06,640 --> 00:39:12,080
Our our only road was wiped out for a substantial amount of time. Yeah because of

408
00:39:12,880 --> 00:39:17,680
Basically a lake that we were we unlaked and then it decided to relake itself

409
00:39:19,120 --> 00:39:30,480
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

410
00:39:31,680 --> 00:39:35,520
No of a not small amount of people in bc

411
00:39:36,400 --> 00:39:43,040
That are aggressively skirting alr rules and I think if someone from the alr

412
00:39:43,760 --> 00:39:48,560
Just took a little drive around a lot of places in bc

413
00:39:49,520 --> 00:39:53,200
And cared at all a lot of people would lose their their setups

414
00:39:53,360 --> 00:39:58,880
Um, so it makes me care less when it feels like more than half of it is being abused

415
00:39:59,360 --> 00:40:04,000
Um, and it makes me want to do it ourselves. I get such a kick out of the gigantic

416
00:40:04,800 --> 00:40:12,000
Mansions the omega mansions on farmland with no farming going on ever like this is oh, we got him going

417
00:40:12,160 --> 00:40:16,960
We got him going here boys. Here we go. Here we go at least my my biggest thing is like you should at least

418
00:40:17,120 --> 00:40:20,800
f***ing attempt You should at least try

419
00:40:20,960 --> 00:40:26,480
Put something there. Why is it just open grass field? You don't have horses. There's no

420
00:40:27,040 --> 00:40:31,600
F***ing horses. There's nothing else. You're doing nothing. How do they get away with this?

421
00:40:32,320 --> 00:40:41,680
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

422
00:40:41,840 --> 00:40:46,880
And you make zero dollars off of it But the whole thing is so that you can have your stupid

423
00:40:47,280 --> 00:40:52,880
Probably disgusting looking terribly designed building on this plot of land in the middle of nowhere

424
00:40:53,120 --> 00:40:59,280
That you'd live in and do nothing else and probably don't see anyone because you're xenophobic for some reason. Anyways, um

425
00:41:00,400 --> 00:41:06,240
I hate Anyways, um, wow, but it's all just it's all a joke

426
00:41:07,520 --> 00:41:10,960
I've also heard that a huge percentage of that crop just gets thrown away

427
00:41:12,320 --> 00:41:17,280
Because it's not just growing whatever. They're not growing based on what we need. They're growing based on

428
00:41:18,080 --> 00:41:24,080
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

429
00:41:24,240 --> 00:41:30,000
Right. Yeah, that makes sense. So like it's a lot of it's junk. Like it's just it's this clear obvious

430
00:41:30,320 --> 00:41:36,080
Insane charade and there's parts of bc that you can literally drive around for a very long time

431
00:41:36,720 --> 00:41:45,360
Where you're just going mansion with no farm Mansion with no farm mansion with no farm mansion with no farm for like ever

432
00:41:46,080 --> 00:41:51,520
It's it just it really makes you not surprised when you drive around farmland in bc

433
00:41:51,840 --> 00:41:55,680
Figuring out that there's more corruption in bc than like practically anywhere because you're like

434
00:41:55,840 --> 00:42:00,800
I wonder where do all the people live that that have all this corruption and then you drive around what should be farmland

435
00:42:00,880 --> 00:42:05,280
And you're like, oh, it's uh, oops all mansions like okay. Anyways

436
00:42:06,320 --> 00:42:09,760
Yeah All right

437
00:42:09,760 --> 00:42:15,600
Yeah Good chat. I'll relax. So anyway, uh, we still have our ear to the ground

438
00:42:15,680 --> 00:42:20,720
And I suspect I'm talking as much to our staff as I am to our viewers at this point

439
00:42:21,120 --> 00:42:25,840
We still have our ear to the ground, but it's it's a challenge. Um

440
00:42:26,960 --> 00:42:30,640
Taren sent me one actually the other day that looked pretty cool

441
00:42:31,280 --> 00:42:34,880
Um, it's a little far from my house

442
00:42:35,520 --> 00:42:39,360
Which I'm not a huge fan of Um

443
00:42:39,360 --> 00:42:44,800
move More videos more videos. It would be far from a lot of people. You have to set up your new house

444
00:42:45,120 --> 00:42:48,480
Uh, I really don't want to move Um

445
00:42:48,480 --> 00:42:57,760
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

446
00:42:58,160 --> 00:43:02,640
Um Oh wait five north phraser away

447
00:43:02,720 --> 00:43:10,960
Honestly, it looks pretty cool One of the big problems is like the really good solutions are going to be so far out

448
00:43:11,440 --> 00:43:16,400
Um, and then they they become bad solutions for other reasons. Oh, yeah, that's right

449
00:43:16,480 --> 00:43:23,040
Locating the whole company. Okay. Hold on. You asked about empty land. Yeah, that's a big problem for empty land

450
00:43:23,520 --> 00:43:29,520
Um, is that it's all really far out. I know I've seen some locally, but it's probably like residential or something

451
00:43:29,760 --> 00:43:33,360
Smash champs Was a completed building

452
00:43:33,840 --> 00:43:41,120
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

453
00:43:41,920 --> 00:43:47,520
It's like two to three years before we will actually move into it. Just you spin up a new channel minus building tips

454
00:43:48,240 --> 00:43:56,400
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?

455
00:43:56,400 --> 00:44:03,120
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

456
00:44:03,200 --> 00:44:09,200
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

457
00:44:10,240 --> 00:44:13,040
All the walls are just made of conduit minus that he likes conduit

458
00:44:13,360 --> 00:44:17,600
We'll just make it out of conduit. You never have any problems running any cables. No might be a little loud

459
00:44:18,320 --> 00:44:21,040
No, you put insulation like in between the conduit in the

460
00:44:22,000 --> 00:44:27,200
Oh My god, we're figuring it out. This is why you're cto

461
00:44:31,440 --> 00:44:36,400
All right, I am I am sending myself. I'm sending myself the pdf. Here we go

462
00:44:37,040 --> 00:44:41,440
Uh What if you make a crypto coin called apples and then you mine apples?

463
00:44:42,480 --> 00:44:44,800
Oh, that's not bad a lr farming. I like it

464
00:44:45,840 --> 00:44:50,560
Nice is nice Okay, here we go. All right. Here's the brochure

465
00:44:51,520 --> 00:44:53,520
Yeah, whoa

466
00:44:54,880 --> 00:44:59,440
Yeah, yeah Wow, I mean it looks

467
00:44:59,760 --> 00:45:04,960
Really nice a hundred six thousand square feet looks like parking all the way around the building. Is that correct?

468
00:45:05,040 --> 00:45:10,480
Look at them park installs Are we are we backing a golf course?

469
00:45:11,600 --> 00:45:16,720
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

470
00:45:16,720 --> 00:45:22,480
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