NAVIGATING THE DECEMBER UNCERTAINTIES
It is too easy these days to get caught up in the chaos:
- December parties, festivities, deadlines, school concerts, ….
- Incoming president Trump and all the possible changes for Canada.
- Ever-evolving government, OSFI and banking policies/rules for real estate investors, builders and developers.
- Lengthy delays with permits, inspections, and utility providers.
- Ongoing stories of less-than-ethical business partners/colleagues; or full-blown economic tragedies with some investors who tried their best?
We could go on, but why add fuel to the fires? Mainstream media is doing plenty of that! Meanwhile, back in our real world …
As we watch our puppy grow, we realize she lives in a world of constant unpredictability. Almost every experience is new. She just figures out one thing, and the next person/animal/place is coming at her. She mostly responds with curiousity, sometimes with caution. What a great way to live! “Ok, now what? How do we figure this out?” Fight, flight, freeze or teeth are her favourite 4 options, so far.
Keeping it real: just like the puppy, uncertainty lies around every corner for real estate investors. Truth: There is no clear path forward, until we take those next steps forward and the future is revealed.
Keeping it positive? Well, we’re not Pollyanna types, but we’re not interested in being Ostriches either (sticking our head in the sand).
We’re laser focused on what we can control. And we’re playing offense, but with an eye to protect our bottom line. What does that mean? Very conservative property proforma’s and budgets. You see, we’ve been through both the Alberta recession (Toronto was booming at the time, it won’t make sense to them) and the chaos of Covid. We’ve learned that backup plans and cautious calculations allowed us to weather some turbulent times. Plus we’re always learning and networking with other trades, builders, investors and even safety code officers. We’re as ready as we can be, AND we’re willing to adapt.
No rocket science here this week. Not even one reference link! Purely our opinion! As a business, and as individuals we are simply learning, growing, and adapting to the next round of changes and surprises. Like so many of our peers, we are realizing that worrying about all the potential demons and disasters that may never cross our paths is a useless waste of precious time. At this point, it is largely unclear where the puck is going to be.
So let’s crush our final goals for 2024 in December! Hard work … breathe. Attention to details … breathe. Figuring out whatever is directly in front of us in this moment … breathe. 2025 will be here soon enough.
