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Discussion Groups: Housing in Brandon


Topic: Brandon 7th in real estate investing in Canada
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Your not sorry!

11/23/2011 11:15:27 PM
Member since:
Sep 2007
Total posts:836
Brandon 7th in real estate investing in Canada

That's a joke,,,,!!!!!!! Who ever did the survey never tried to deal with brandon area and planning to get anything done with out some sort of issue. the city needs to blow up their entire planning and engineering dept and start over. Ps stop holding developers responsible for all improvements and try and pay for something yourselves once and awhile.  

 
 
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blewbyyou

11/23/2011 11:40:30 PM
Member since:
Oct 2005
Total posts:595
developer?

Are you speaking as a developer?

NA

11/24/2011 1:23:17 AM
Member since:
Jan 2011
Total posts:245
I don't get it.

Isn't this a positive? 7th in Canada seems good, if a center like Brandon can win it, I assume it ranked cities, 7th seems really, really good in that case. Are you saying 7th is bad, or it is untrue? I'm assuming there are stats that have led to this declaration. Do you have opposing stats? Have you personal experiences that say otherwise to share?  
 
It seems to me it would make sense for issues to be raised when someone is trying to develop property. It's good for there to be controls and regulations to be in place to ensure that things are done properly. It seems like there's a lot of new developments all over Brandon, particularly on the south side, where it seems like houses and neighborhoods are popping up everywhere.  
 
Could you elaborate on, or maybe explain what you mean?

Fishin Guy

11/24/2011 6:46:39 AM
Member since:
Dec 2005
Total posts:4585
....

Got to say I agree with Not Sorry. Speak with contractors and the smaller developers and ask them how build friendly Brandon is. I hear nothing but complaints about red tape in this city. Amazing though how much the red tape dissappears when you have someone's name affiliated with you. I am pretty sure you can figure out the family name.

Adam

11/24/2011 8:07:51 AM
Member since:
Mar 2005
Total posts:12889
#7

Be interesting to see what this kind of recognition does as far as peaking the interest of outside investors.  
 
There are folks that know a lot more about this kind of thing than I do and hopefully they'll chime in, but I'd imagine that these are important when looking at Brandon:  
- our vacancy rate. Guessing its pretty much a slam dunk to rent most properties going by the amount of calls I hear of people getting when they post a for-rent classified. I do wonder what the short-term effect of the University situation could be though, depending on how soon it's resolved  
- property values are lower... which should mean that its cheaper to acquire a property, there should be less overall dollar risk associated with any kind of a market dip, and maybe they're still seeing some decent upside in terms of values going up?  
- compared to property value, doesn't our market allow for relatively high rent?

BH

11/24/2011 8:14:21 AM
Member since:
Mar 2008
Total posts:649
Improvements

  
Your not sorry! said "That's a joke,,,,!!!!!!! Who ever did the survey never tried to deal with brandon area and planning to get anything done with out some sort of issue. the city needs to blow up their entire planning and engineering dept and start over. Ps stop holding developers responsible for all improvements and try and pay for something yourselves once and awhile.  
"

When a developer wants to build something that requires improvement to the public infrastructure, shouldn't they be responsible for covering the upgrades?  
 
This is how you get into massive infrastructre deficits otherwise, isn't it?

Your not sorry!

11/24/2011 8:36:08 AM
Member since:
Sep 2007
Total posts:836
You are correct.

  
BH said "
  
Your not sorry! said "That's a joke,,,,!!!!!!! Who ever did the survey never tried to deal with brandon area and planning to get anything done with out some sort of issue. the city needs to blow up their entire planning and engineering dept and start over. Ps stop holding developers responsible for all improvements and try and pay for something yourselves once and awhile.  
"

When a developer wants to build something that requires improvement to the public infrastructure, shouldn't they be responsible for covering the upgrades?  
 
This is how you get into massive infrastructre deficits otherwise, isn't it? "

But not all applications for subdivisions are the same. Each one can be very different. In the last few years I have seen many different applications from subdivisions to a common new home permit be met with unrealistic requests that any developer or home builder would be left shaking their heads.  
 
To be fair to BAPD they have had huge turnover so their people need to be educated better. One of the biggest issues I have is the inconsistancy from permit to permit or application to application or inspection to inspection. Your almost rolling the dice if you get the wrong planner who has his own agenda. But if your lucky enough to get a guy who will work with you and try his best to be accomodating and still be satisfied with the end product your life will be easier. I'm not saying some developers are favorites but sometimes I wonder if it is a level playing field. That is just from my experince. I just hope the mayor figures out they have some major issues that need to be addressed moving forward.  
 
Brandon is going to be a very busy city for development for years to come. Lets hope they BAPD are ready for it sooner than later.

Fishin Guy

11/24/2011 8:39:28 AM
Member since:
Dec 2005
Total posts:4585
....

  
BH said "
  
Your not sorry! said "That's a joke,,,,!!!!!!! Who ever did the survey never tried to deal with brandon area and planning to get anything done with out some sort of issue. the city needs to blow up their entire planning and engineering dept and start over. Ps stop holding developers responsible for all improvements and try and pay for something yourselves once and awhile.  
"

When a developer wants to build something that requires improvement to the public infrastructure, shouldn't they be responsible for covering the upgrades?  
 
This is how you get into massive infrastructre deficits otherwise, isn't it? "

Yes and No. The city makes money off property taxes without having to do any of the work. We needed an upgrade to the treatment plant and ML didn't have to dish out for the costs. They were generously helped. Really the city should be better planned that continuous upgrades shouldn't have to happen.

Jean

11/24/2011 4:23:12 PM
Member since:
Mar 2008
Total posts:333
What would it cost to build a 4-plex or 6-plex?

I live in an area where some land was bought up with the idea of developing it into affordable single dwellings. Ten years have come and gone, and nothing has happened. In the meantime construction costs have gone up drastically, and it is hard to get anyone to commit to building for you because they are in such high demand.  
 
I would be interested to know how much it would cost to build a four plex or six plex from the bottom up. (As an alternate to single dwellings because we need housing).  
 
The next estimate needed would be for infrastructure because there is only city water, no city sewer on this block.  
 
I would be real interested in talking with developers to get things started. Also City of Brandon should work with them to help them get things into place regarding infrastructure, water, sewer, hydro because Brandon is so short of housing.  
 
 
 
Edited by Jean , 2011-11-24 16:24:35

west

11/24/2011 4:36:29 PM
Member since:
Oct 2011
Total posts:1101
real estate in brandon...

i am constantly amazed at the size of all the new houses being continually built in Brandon...they must be costing 300-600,000 at least.i am not a poor man...but boy...there must be some big mortgages out ther!!or are they all cash deals?retired farmers?doctors?who are they?

Oh Canada

11/24/2011 4:54:46 PM
Member since:
Mar 2010
Total posts:873
To buy a 4 plex

You are looking at on Average $150,000 a unit . $600,000 for a four plex . Call an agent or look at MLS . They are tearing down houses all over the place that must have cost at least $170,000 and turning the land into a 3 or 4 plex and they are selling to investors all day. I can't see how the numbers work but to me you would need at least $1100 to $1200 a unit to make it break even with no vacancys or tenants damagin one of your units!! not for me !!!

Jean

11/24/2011 7:50:45 PM
Member since:
Mar 2008
Total posts:333
New housing

For these $300000 to $600000 new homes, are they being built on the outskirts of Brandon? Therefore more infrastructure needed to get out to them? Higher costs for the city. They would then require higher taxes to get their money back.  
It all has to balance or it would not be worth it-for both sides.  
 
 
 
 
 
 
Edited by Jean , 2011-11-24 19:52:36

michelle

11/24/2011 8:18:59 PM
Member since:
Nov 2005
Total posts:2393
Link

  
Your not sorry! said "That's a joke,,,,!!!!!!! Who ever did the survey never tried to deal with brandon area and planning to get anything done with out some sort of issue. the city needs to blow up their entire planning and engineering dept and start over. Ps stop holding developers responsible for all improvements and try and pay for something yourselves once and awhile.  
"

Can you post a link to this?

west

11/24/2011 8:30:40 PM
Member since:
Oct 2011
Total posts:1101
300-600k

  
Jean said "For these $300000 to $600000 new homes, are they being built on the outskirts of Brandon? Therefore more infrastructure needed to get out to them? Higher costs for the city. They would then require higher taxes to get their money back.  
It all has to balance or it would not be worth it-for both sides.  
 
 
 
 
 
 
Edited by Jean , 2011-11-24 19:52:36"

yup..in the Brookwood area...south west corner of the city.But thats normal urban sprawl...downtown has fewer and fewer people/services...all new houses built farther and farther from downtown core...

Jean

11/24/2011 9:44:40 PM
Member since:
Mar 2008
Total posts:333
New Investors

I do hope that we get some new investors coming to Brandon and checking out the possibilities here. Maybe they will bring fresh new ideas for housing that would be cost-effective, and functional, and also good for the environment. We need more housing available to our citizens.  
 
Edited by Jean , 2011-11-24 21:45:44

Jean

11/25/2011 8:24:47 AM
Member since:
Mar 2008
Total posts:333
Oh Canada

Thank you Oh Canada for your estimate of what it would cost to build a 4 plex. That gives a good idea if anyone wanted to figure out how long it would take to get your inputs back.  
 
I imagine there are not too many empty lots in Brandon on which to build. Therefore, like you mentioned, people are knocking down existing houses to make room for new development.

scott_

11/25/2011 10:40:39 AM
Member since:
Jul 2010
Total posts:1
vacancy rate

  
Adam said "Be interesting to see what this kind of recognition does as far as peaking the interest of outside investors.  
 
There are folks that know a lot more about this kind of thing than I do and hopefully they'll chime in, but I'd imagine that these are important when looking at Brandon:  
- our vacancy rate. Guessing its pretty much a slam dunk to rent most properties going by the amount of calls I hear of people getting when they post a for-rent classified. I do wonder what the short-term effect of the University situation could be though, depending on how soon it's resolved  
- property values are lower... which should mean that its cheaper to acquire a property, there should be less overall dollar risk associated with any kind of a market dip, and maybe they're still seeing some decent upside in terms of values going up?  
- compared to property value, doesn't our market allow for relatively high rent? "

Not sure if I agree it's a "slam dunk" for people renting out their properties anymore. I see a lot of ads getting relisted, and only a select few actually getting rented. Those being the ones that are marketed well and priced right. I would suspect that it's beginning to be a more competitive renting market.  
 
There's vacancies in apts like Fernwood (south), Mayfield Gardens (south), and whatever that development down on Alaska Bay is called. They're all nice and newer, and they all have availabilities and have for a while.  
 
Many people are opting to buy instead, as their mortgage payments are close to what rent costs would be. This because, yes, property values are attractive here for the most part.  
 
Investors, typically, don't want to build apartment buildings and duplexes. They want to sell what they invest in (condos, houses). Because this is what people are looking for these days.

Kipling

2/14/2012 6:23:27 PM
Member since:
Feb 2012
Total posts:20
Four plex

If you have land I can build a fourplex or ? for you. if Interested post me

Oh Canada

2/14/2012 7:34:38 PM
Member since:
Mar 2010
Total posts:873
7th in canada?

Does anyone know were this information was posted or writen? I would like to see where it came from?


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