Weekly Address November 20th Edition

In this week’s Weekly Address you’ll find the latest details about the 2nd addy exit, info about how the Feds are going to use CRA to target Airbnb hosts, the latest about addy and a sneak peek into Discord. 👀 

addy 2nd Exit

Celebrating our second exit on the platform:
The Cornerstone with a 15% ROI in only 5 months!

We’re celebrating another amazing milestone — the second property exit on the addy platform! Members who invested in The Cornerstone, an office-to-residential conversion, are realizing a 15% return on their investment in less than 5 months (two and a half years earlier than expected!). All investors have received the full return of their capital, along with the profits, on November 16, 2023. (Details)

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Exits So Far

1. The Lex – 933 Canadians invested $460,000. Their return of $580,855.97 came less than 12 months later marking at 22.89% return on their investment.

2. The Cornerstone – 801 Canadians invested $500,000. Their return of $569,250.00 came less than 5 months later marking at 15% return on their investment.

Check out addy’s Track Record

Industry News 

Federal Government using CRA to go after Short Term Rentals

Have you been following along with the latest news in Canadian real estate these days? It seems all levels of Government are steamrolling ahead with tax changes, policy changes and incentives to increase the supply of housing across the country. Toronto Mortgage Broker Ron Butler caught our eye yesterday with this tweet:

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Here is the story that he was referring to: 

⭐ Trudeau government to crack down on people who profit from Airbnb 

Tuesday’s federal fiscal update is expected to include a bid to quash the incentive to flout local short-term rental restrictions. (Toronto Star)

How do they plan to do that? According to rumours, because the Federal Government usually stays out of property issues and leaves them up to Provincial and Municipal Governments, they are going to use the CRA to change tax rules for what you can expense associated to short term rentals.

In other news

🏗️ Vancouver developer Westbank denies ‘malicious rumours’ of financial trouble

The company, which has helped build some of the city’s most notable projects, is facing lawsuits in Ontario (BIV)

🎧 Wesgroup’s President Beau Jarvis discusses Real Estate Trends for 2024
Matt & Adam Scalena from the Vancouver Real Estate Podcast interviewed Wesgroup’s President, Beau Jarvis the other day. In the episode Beau talked about how he is spending a whopping 85% of his time lobbing government. (Listen to Episode)

The Latest at addy

👀 Here is a quick summary of what you may have missed

  • 🇺🇸 USA Prop To Issue Second Early Dividend! Still time to invest (details)
  • ⌛ SOLD OUT – The Altadore Townhomes sold out the other day with 1050+ Canadians participating. (details)
  • 🇨🇦 We unlocked all of Canada! Now qualified Canadian residents can now invest via addy Platform! (details)
  • 3️⃣ Three opportunities available addy platform!
  • 🆕 Alliance REIT’s first property is on the way! (details)
  •  The addy iOS app got some upgrades. (download)
 

Engage with Darcy Ulmer, Partner at Stream

Have you had a chance to jump into the addy Discord server yet? If you haven’t, you should check it out. As you know, addy members can review details of an opportunity within their addy accounts at any time. Details include the offering document, due diligence, photos, videos and more. Buy Darcy Ulmer is taking it to the next level by being available within the addy Discord server to chat with addy members, answer questions and share the progress on the final steps of the Maple View Heights development.

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Drop into the addy Discord server. You can just watch and read or you can choose to engage. It is a very fun benefit of being an addy member. 

See you online!

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