DwellScape Investments

Walland Property Group and Dwellscape Investments are very excited to bring a new opportunity to our community of investors. This one is in one of the top rental markets in Canada. It is also the newest and biggest property for us, so far.
I can't share too much yet, but if you are looking to get involved in real estate passively, reach out to be one of the first to get the info when released.

It might just be what you are looking for!

Chad And I had the opportunity to be on The Focus Capital Podcast.
In our conversation with Stephen, we discussed our partnership, why multi-family instead of single-family, and the benefits of investing passively with an experienced partner.
Enjoy!

Real Estate Partnerships with Guests Chad Walmsley & Joel Labonte and Host Stephen Simpson - Ep.5 - The Focus Capital Podcast with Stephen Simpson Joel Labonte is a seasoned real estate investor with over a decade of experience in the field. As the founder and General Partner of Dwellscape Investments, he has established a reputation for providing investors with opportunities to diversify th...

Here is one of the best Capex we did on a building we own. We replaced our inefficient boiler and water heater with three IBC boilers.
The result was a reduction of 40% in gas consumption which was welcome and just in time for the gas price to double in 2022.
An upgrade cost was $35K minus a $7000 rebate from an energy efficiency program. The reduction in gas expenses produced an increased value for our asset of more than $75K. Upgrades like this can be a large cost upfront but the benefits are more than just saving the planet, they are also impacting the bottom line positively.

Cut…paste… and repeat!

The last few months we had the opportunity to renovate many apartments in our Cranbrook Portfolio. It is always the same finish’s, and same layout. It helps us to keep our cost of renovations down and the quality up. Our team also reduced the turnover time from more than 30 days for a unit to just over 20 days for a full renovation.
The more important, the look of the units has been proven to be loved by our residents and are renting quick and for a premium.
Everyone win!

This is no news for us but an article that reflects our thesis regarding Multifamily.

‘Constrained Supply’ To Give Multifamily, Industrial Real Estate A Boost In 2024 Report after report lately tells us that Canadian real estate is in for a quiet 2024. Even so, industry stakeholders say that the multifamily and industrial sectors will see “positive momentum” in the year to come. "As interest rates and inflation rates gradually decline, there is an anticipatio...

Beautiful day to explore our backyard!

Every time I have a conversation with a prospective investor, one of the questions is ‘’Who are your investors, and what do they do’’?

- They are successful business owner or professionals -

I believe all successful business owners will agree that a workday is more often than not, from the time you open your eyes in the morning until you go to sleep. You might not physically work but your mind keeps being consumed by your business. And a professional like a medical practitioner, the working hours can be twice the average American working hours.

At a time when someone is successful in their business or career, time becomes often more valuable than money. They have worked hard for their wealth for many years and spending time with loved ones or just enjoying what life has to offer becomes a priority now.

So why someone in their right mind would want to learn about an entirely different business, spend months prospecting deals and then dread the next call of your difficult tenant?
They want to invest in real estate but how to do it without consuming your time?

From a business owner to another...

You can leverage our business and time.
We offer exclusive and passive real estate investment opportunities, professionally curated to deliver competitive returns, even in today's market. You will own a physical property with a limited group of individuals, all with the same goal. And we do all the work so you can enjoy your time.

It just starts with a conversation!

DwellScape Investments.

2 years ago, our real estate in a multi-family journey started with a fire in a structure against our newly acquired building.
This was our 4th day of ownership!
It makes you reflect and doubt the reason why we are going through such adversity in order to buy and manage real estate.
For me, the idea of creating passive income and wealth for my family was enough, but being able to help friends and others do the same, passively, is exciting and even more rewarding to me.

Our investors have enjoyed a truly passive investment where we do all the work and share profits with them.
Today we have grown our portfolio and are helping more than 20 investors in the process.
Things we learned: Keep the surroundings of your building clear of any garbage, or combustibles - like a mattress!

The last 2 years have been so rewarding. We have been able to build a multi-family portfolio in the Kootenays of 110 units. We are looking forward to keep growing our portfolio as we are expecting more opportunities to come soon.

Hanging out at the office with kim, our manager, for rent collection day. The same outfit wasn’t plan!

A little video on the renovation we do when we have turnover and the benefits of it.

TERRA GREEN unit #21 Before and after Another unit with a big need of renovation.

When I have discussions about real estate investments with people who don't own rentals, in general, everybody gets it... it's a great investment. They like the idea of cash flow and building equity but they won't take that next step because of a fear of tenant issues, which could lead to financial and personal stress.

In rare cases, the resident doesn't care about your property and will run it down to the ground - this may be due to their own life challenges or limitations but it has an impact on the investment and could leave you with tens of thousands of dollars in repairs.

I get it too!

When I looked at this unit, I knew we would far exceed our value add renovation budget. Not to mention the income we would be missing while we fixed it. If you let it, these kinds of challenges can get to you and push you out of one of the best investments you can make.

Who would want to jump right in with a smile on their face and see the good in this situation?

It takes time and money and personal sacrifice to bring a unit like this back to a decent rental condition. We have families and day jobs to attend to as well...

Is it really worth it?

Everyone comes from different places and I don't have the answer for everyone. But here is how I go about it to benefit our investors and grow our real estate portfolio in a stable and strategic way

----I invest in value add apartment buildings that have 16 units or greater.

Why does this make a difference?

-----The main reason is the economy of scale and how it gives me the flexibility to mitigate many challenges all at once.

-First, because there are many units under the same roof, having one empty unit for a month or two doesn't affect us too much as the other units are covering our costs and don't require us to subsidize the investments from our own pocket. The same goes for services and operation of the property. Water, heat, snow removal and other cost are all shared between the units which makes it more economical. Also, the cash flow is usually better and allows us to keep a healthy reserve for a situation like this one.

-Second. The biggest worry for the ''to be'' landlord is to get a phone call, in the middle of the night from a resident with a water leak or someone locked out who needs immediate attention. With more units under one roof and more income, you can afford a good property manager who will take care of the day-to-day operation and deal with resident requests and challenges. In this case, the manager had done inspections on all units of our newly purchased asset. He identified the problems and took action to remove the tenants, make plans with contractors, sign new leases, and bring in income again. A property manager is probably the most important team member to be able to grow a portfolio and still have a life outside of it!

There are many more benefits and 100 times more challenges associated with multi-family, but these economies of scale benefits help us leverage real estate as a solid investment. It also puts my mind at ease knowing that when it comes to tenant and operation challenges, we can deal with them with minimal consequences.

The silver lining is...this unit will require around 35K to fix. But once fixed and rented, the rent will increase from $780/mth to $1650/mth.

Creating over 180K of value to our building due to the increased income. Not bad.

Great opportunity in Cranbrook, BC and right next door to our last acquisition in November. This proximity will give us economies of scale in management and maintenance. Thank you to the team that help us so far. Now full steam ahead with the due diligence!

Hopefully good news tomorrow….Stay tuned!

Due to turnover for the next couple of months, we are taking the opportunity to update a few units of our portfolio in the Kootenays. Some need more work than others but we are always renovating to the same standard that our new resident loves.

"Vacancy rates in Calgary's new purpose-built rentals are tightening, and rents are rising."
The new purpose-built rental vacancy rate is said to be hovering at 1% with migration from other provinces at a record high.
Investors in Calgary's rental market are likely to be winners in 2023.

Calgary rental market likely to remain in high demand in 2023 Vacancy rates in Calgary's new purpose-built rentals are tightening, and rents are rising.

We welcomed 2 news tenants on Jan01 2023 in those fully renovated suites. Thanks team for the hard work!

As we leave behind 2022, we can only express gratitude to all our friends, partners and professionals who helped us make 2022 the best year we had at Dwellscape Investments.

This year, our goals are bolder and our expectations are higher!
And it is through meaningful relationships and partnerships that we see the opportunities to make this year even more successful.

From our family to yours, we wish you health, love and success.
Happy New Year!

« Too few rentals are being built in Calgary and nation wide »

Insiders warn of crunch coming for Calgary rental market with prices expected to go even higher | CBC News "Something's gotta give," says consultant who warns renters that the situation in Calgary is going to get worse. Chris Ollenberger says Canada needs to rethink how it encourages more housing supply.

I just did a quick in and out over the weekend to The Ventura In Cranbrook .The trades needed help to make progress on our last reno of the year. Unit 205 is only 1 week away from being completed and just on time to welcome a new tenant on Jan 01.

Thank you!

We are experiencing big rent growth in the city we invest.
Statistics show Ontario, British Columbia and Alberta have seen rent increases of 17.7 percent, 15.1 percent and 13.2 percent, respectively. Well above the inflation rate in Oct. of nearly 7%.

What to blame?
- Inflation
- Climbing interest rates
- Housing price
Just to name a few.

Rent is going up at a breathtaking pace, with no relief in sight. Here's why | CBC News While the dramatic impact of higher lending rates on the housing market has been well documented, what's happening in the rental market hasn't gotten nearly as much attention and is showing no signs of cooling, even as other inflationary impacts are starting to soften.

Well this is it!
After 6 months of work towards acquiring this 58 unit portfolio in Cranbrook, we finally took possession on Nov 01.
No time to waste, we had the manager and maintenance worker get the unit updates started.
Lastly we celebrated with a good dinner and drinks at the local favourite with our solid team that made this deal happen.
I am still in Cranbrook for a couple days so if anyone are around and want a tour let me know.
And if anyone are curious to how to get involved in the our deals… let’s get in touch.

Young adults are moving to Alberta at a faster pace.
For many years, Alberta has been on the affordable side compared to the main centres like Toronto and Vancouver. Affordability has become a problem in those centres and young people are looking for a place where they can afford a better lifestyle. Alberta has it all.

Go west, young man: Alberta sees largest wave of interprovincial migration since 2014 | Globalnews.ca The Statistics Canada numbers show Alberta posted the largest gain while Ontario lost the most residents in the second quarter.

I was just listening to a great Podcast @ Cash Flow Connections Real Estate with Hunter Thompson.

He was talking about the level of output you need, in order to achieve what most won't.

I can relate!

The times when I have had the most success or when I saw myself moving forward are when I put the most energy and focus into what I wanted to accomplish.
There is no overnight success and I believe it is directly related to the amount of energy you put into your goals.

GO GET IT!

Over and over, we hear people mention time or lack of it that stops them from moving forward with real estate investments. How would they find the right investment let alone manage the asset? In most cases, they know their time is well spent on their career or business endeavours where they make a great living.

Does this resonate with you?

Many of our partners are entrepreneurs, business owners, or busy professionals. They are all smart people who understand the value of diversifying their portfolio with real estate.
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Dwellscape Investments focuses on providing private real estate opportunities to our investor groups and partners. We select properties through careful analysis and due diligence, go through the acquisition and funding process, and manage the asset until the time of exit. All this is to provide passive investment opportunities to our partners.

Who els has taken advantage of the MLI Select from CMHC?

Meet our partner on our last acquisition! The dream team making it happen!

We are very happy to bring this portfolio to our investors. The due diligence process has been challenging but the opportunity was there and it was worth it! Now that all hurdles are removed, we have 4 more weeks to go before closing. Then we will bring these properties to an all-new level through our Value-Add Strategic Plan. Making it better for the resident and investors at the same time.