Our Upcoming Property: Some Thoughts from addy Board Member Steve Evans

There is no denying that Steve Evans has an impressive resume when it comes to real estate investing. Since 2003, he has founded, co-founded and led several successful real estate platforms encompassing over 400 real estate transactions valued in excess of $6 Billion. He’s seen tremendous growth from his real estate portfolio and is keen to help the next generation of investors – like his 21-year-old daughter – get their foot in the door so that they can start generating wealth today vs waiting until they are much older.

In Steve’s words, “I’ve been in the industry for 20+ years and real estate prices, particularly in BC, continue to climb making it nearly impossible for the average person to get started. Bringing real estate as an investment to a broader crowd that up until recently has been locked out, is very exciting.”

Knowledge is a key component of investing in real estate – from picking the right buildings and evaluating the locations, to analyzing tenants and negotiating leases, there is a lot to know and it’s even more nuanced in the commercial space.   That’s where Steve really shines – as a director on addy’s board he leverages his decades of experience to source, assess and secure real estate deals that he considers solid investments. In fact, he was an integral part of selecting our commercial investment property in Chilliwack.

“It’s simply a good quality investment. The tenant (Starbucks) has solid financial strength, the building has a great location and a well-designed and very functional drive-thru, there is a good return in terms of cash flow, with contractual rent steps that go up every year.   The asset has a triple net or carefree-lease and given COVID 19 pandemic, we are getting it at a very good cap rate. Plus, Chilliwack is an affordable market compared to Vancouver and it is growing quickly – businesses like the new Molson Brewery are driving job creation in the area further strengthening the economic outlook for the city.”

All in all, Steve says he personally likes investing in tangible assets, “It just feels good to drive by and look at something that you own.”

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