Volodya Gusak @volodyagusak Twitter profile

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Volodya Gusak

9 months

What exactly is real estate development? I struggle to find other job description as varied as a "Developer". Development ranges from the - acquisition, renovation, and re-lease of existing buildings to - buying raw land, carving it and building brand new structures:

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Volodya Gusak

@volodyagusak

1 year

Bank of Canada 🇨🇦 hiked rates again … 0.25% Meanwhile … wait for it… Feds seek approval for additional $20.5-billion in spending …if approved, federal spending so far this year will reach $454.8-billion, up 11.7% from the $407.2-billion in spending approved last year.

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Volodya Gusak

@volodyagusak

10 months

@dougboneparth Maybe he should write a new book: "Rich Dad, Poor Bank.”

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Volodya Gusak

@volodyagusak

1 year

CIBC's Benjamin Tal: "Time to waive or defer the HST on purpose-built rentals" 👇

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Volodya Gusak

@volodyagusak

3 years

@ScottAdamsSays "If you eat, invest, and think according to what the ‘news’ advocates, you’ll end up nutritionally, financially and morally bankrupt." @naval

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Volodya Gusak

@volodyagusak

1 year

Canada loses 17,000 jobs as unemployment rate rises to 5.2%! (From: Labour Force Survey released Friday morning, Statistics Canada). Contrast it to the expected gain of 20,000 jobs… Bank of Canada 🇨🇦 hiked rates partly because of strong employment. Premature hike? Next?

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Volodya Gusak

@volodyagusak

1 year

@JoePompliano Saw a Senna in black at the mall here. Beautiful car. It deserves to be driven.

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Volodya Gusak

@volodyagusak

1 year

This is akin to a husband telling his wife: “I’ll get us through these hard financial times even if it means you working twice as hard”.

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Volodya Gusak

@volodyagusak

1 year

@ShaneAParrish "Did you ever consider how ridiculous it would be to try to cram on a farm—to forget to plant in the spring, play all summer and then cram in the fall to bring in the harvest? The farm is a natural system. The price must be paid and the process followed. You always reap what you

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Volodya Gusak

@volodyagusak

9 months

@YIMBYLAND Well, it seems like the Sears homes went the way of the dodo bird, extinct! But seriously, from 1908 to 1940, Sears sold more than 70,000 mail-order homes. That's a lot of DIY projects! Most of these homes were built in New Jersey, New York, Ohio, and Pennsylvania. It's

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Volodya Gusak

@volodyagusak

2 years

@SteveSaretsky The rich don’t have high income. High net worth = rich. Inflation makes everyone pay more in tax. Instead of working on increasing abysmal productivity, the easy thing is to tax people. Yup 👍.

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Volodya Gusak

@volodyagusak

2 years

@rasmith951 @NCrunnerjacky To all the people who say such nonsense, I'd like to remind them: You have the option to gain this "advantage" at any time of your choosing. But if you choose not to, remember: Light travels faster than sound. This is why some people appear bright until they open their mouths.

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Volodya Gusak

@volodyagusak

1 year

How does the GST on rental buildings work? Businesses are typically GST registered, this means that for every $1 spent on goods and services, the GST of 5% is refunded to businesses as Income Tax Credits (ITCs). With rental housing developments, it is similar. Project expenses

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Volodya Gusak

@volodyagusak

2 years

@realEstateTrent Radical honesty, that’s what I do. It looks like this: Broker: we have deals for you but never met, can we schedule a call? Me: If your deals didn’t work for your best clients, I don’t want to see them. So no, I respect your time and mine. Broker: can we still talk? Me: no

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Volodya Gusak

@volodyagusak

2 years

@daniel_foch The irony here is that in the past, same buyer would benefit from appreciating prices. In such cases, no news articles … no court…

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Volodya Gusak

@volodyagusak

10 months

@dtmorgan18 Magnesium helped me a lot. Have you tried?

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Volodya Gusak

@volodyagusak

1 year

@seandsweeney @moseskagan @StorageDataDev @ArtemTepler For anyone struggling, just please remember no one is alone. There is help and there is better after.

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Volodya Gusak

@volodyagusak

8 months

@realEstateTrent Did he drink coffee ☕️? I see a split. Some drink Diet Coke for caffeine Some drink coffee ☕️ for caffeine I’m a coffee guy.

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Volodya Gusak

@volodyagusak

2 years

I’ve read somewhere more than half of all mortgages in Canada are either variable or short term fixed. That is what makes debt-service fro Canadians such a big deal with recent rate hikes. Different story for the USA.

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Volodya Gusak

@volodyagusak

3 years

@Scaramucci Warren: "If I can't understand it, it is dangerous and evil and must be regulated. Like my cat. Both DeFi and my cat defy me." @kylekeeganradio @elonmusk

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Volodya Gusak

@volodyagusak

1 year

@ADeermount @nytimes Wow, that's the title NY Times chose? Shame. Let me help correct the record. The man was a LEGEND among legends.

Volodya Gusak

@volodyagusak

1 year

"From Cassandra, With Love" by Sam Zell In March 1988 Sam wrote for Real Esate Issues an article. And like Greek legend cursed by Apollo with the ability to make accurate predictions that no one believed... he warned about dire issues in RE.

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Volodya Gusak

@volodyagusak

2 years

@rcarrick July 2020 Tiff … “Our message to Canadians is that interest rates are very low and they’re going to be there for a long time,” Macklem said at a press conference Wednesday.”

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Volodya Gusak

@volodyagusak

1 year

The secret it out. I am excited to share that we are bringing a Marriott hotel to our site in Chilliwack. New Marriott hotel coming to Chilliwack to anchor ‘destination’ site on highway

New Marriott hotel coming to Chilliwack to anchor ‘destination’ site on highway

‘Excited to see plans unfold for major revitalization of industrial property’: Tourism Chilliwack

www.abbynews.com

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Volodya Gusak

@volodyagusak

2 years

A look at how the 5-year variable rate forecast has changed over time based on Bank of Canada interest rate announcements.

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Volodya Gusak

@volodyagusak

1 year

"From Cassandra, With Love" by Sam Zell In March 1988 Sam wrote for Real Esate Issues an article. And like Greek legend cursed by Apollo with the ability to make accurate predictions that no one believed... he warned about dire issues in RE.

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Volodya Gusak

@volodyagusak

1 year

@ShaneAParrish You can have everything in life you want, if you will just help enough other people get what they want. (Zig Ziglar)

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Volodya Gusak

@volodyagusak

1 year

@my_idea1 If you keep glass clean enough it’ll fight electric scooters on the pedestrian sidewalks problem. But is it a real problem? Or the department of unintended consequences at work? 🤦

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Volodya Gusak

@volodyagusak

1 year

Feds seek approval for additional $20.5-billion in spending

Altogether, if approved, federal spending so far this year will reach $454.8-billion, up 11.7 per cent from the $407.2-billion in spending approved by the same point last year.

www.hilltimes.com

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Volodya Gusak

@volodyagusak

2 years

In 2022 Canada had the highest number of purpose built rental units added since 2013. A total of 55,000 units. Should we celebrate? That's a drop in the bucket compared to what we need. By 2030 we need 5.8MM units to be affordable.

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Volodya Gusak

@volodyagusak

11 months

@ManyBeenRinsed His math is only second to his economics mastery. Where do you find these vids? 🙄

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Volodya Gusak

@volodyagusak

1 year

@daniel_foch Insanity.

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Volodya Gusak

@volodyagusak

2 years

@rockysethi18 There is Hope …

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Volodya Gusak

@volodyagusak

10 months

@RE_MarketWatch Best financial advice come a from people who use words like “wanna, gonna” 😆

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Volodya Gusak

@volodyagusak

2 years

What’s your favorite book on negotiating? This is my pick. 🧐 @TheRealEstateG6 @drorpoleg @donnelly_b

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Volodya Gusak

@volodyagusak

9 months

Tiff Macklem on housing & shelter inflation. He is right. Drop in rates will spike prices. High rates taper demand, but increase replacement costs and not enough dwellings will be built. 👇 “You’re not going to solve housing with low interest rates and you’re not going to

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Volodya Gusak

@volodyagusak

1 year

@SteveSaretsky Rate hikes also slow down construction of new projects. Less future supply of housing in a housing crisis. How to solve for it? It’s bad vs worse.

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Volodya Gusak

@volodyagusak

2 years

@GrammarHippy • freelancing • teaching • selling services locally (clean someone's driveway) • Create products/services for customers to buy • Monetize content through ads, local events, workshops, seminars to participate in. • Optimize strategy based on results.

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Volodya Gusak

@volodyagusak

2 years

@MacroAlf Would be great to overlay on this graph two things: 1. Per capita dwelling units for each country 2. Population growth Canada needs more housing. It has lowest level of housing units per capita of all G7. And highest population growth! We need more housing!!!

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Volodya Gusak

@volodyagusak

9 months

Kelowna leads U-Haul's list of growing cities for B.C., 6 others crack top 25 1.CALGARY, AB 2.SHERBROOKE, QC (18) 3.EDMONTON, AB 4.KELOWNA, BC (5) 5.COURTENAY, BC 6.PENTICTON, BC (21) 7.CHATHAM-KENT, ON (1) 8.CAMPBELL RIVER, BC 9.LEVIS, QC 10.BRANTFORD, ON (8) 11.COLLINGWOOD, ON

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Volodya Gusak

@volodyagusak

2 years

@rwittstock Federal Gov is planning to increase immigration significantly. Canada has the lowest number of housing units per 1,000 residents of any G7 country. And this number has been falling since 2016. Well before the pandemic. Yes, “oversupply” 🤣

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Volodya Gusak

@volodyagusak

10 months

@Tablesalt13 Predictions are always right, just like the weather forecast.

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Volodya Gusak

@volodyagusak

2 years

The only failure in your twenties is inaction. The rest is trial and error.

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Volodya Gusak

@volodyagusak

2 years

@daniel_foch The amount of media backlash on Twitter is big and hilarious. Someone posted “if we don’t help out millionaires driving $150k Teslas, who will?” It sucks when you overpay for anything. I get that. Life isn’t always sunshine and roses. But let’s be reasonable. Yes, free markets.

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Volodya Gusak

@volodyagusak

9 months

@TheBTCTherapist He did say they don’t go into assets like GOLD either! That’s fair. They own their customers’ decisions. Will that upset some? Sure.

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Volodya Gusak

@volodyagusak

9 months

Many G.P.s make this mistake pitching investors, and it is so simple. But I'll let you in on the secret. A pitch on profits, "Look here, IRR is over 20%!". That's a mistake. Investors decide which Real Estate Development syndications they like on 3 things: 1. People

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Volodya Gusak

@volodyagusak

10 months

@YIMBYLAND YIMBYland, your tweet is like a mullet: business in the front, party in the back, and a whole lot of confusion in between. Keep tweeting, though; I need something to make me feel better about my own questionable taste in comedy.

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Volodya Gusak

@volodyagusak

9 months

@j_mcelroy That’s hard to follow, I wonder what the other speakers were like over the 5 days? Any surprises? Any suggestions that could work? What can we glean from this for the DNV’s future?

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Volodya Gusak

@volodyagusak

1 year

I made an offer on a TH site that's been on the market for a while. Response? "we have another offer, if you are willing to beat it, we'll consider it. Up your price 20% ..." How convenient on timing of that "other offer"! May well be true. What would you do?

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Volodya Gusak

@volodyagusak

1 year

Canada has an existential productivity problem “By purchasing power parity, its economy is ranked 15th globally by size, behind the likes of Turkey, Italy and Mexico.” “Poor productivity is at the heart of the country’s growth challenges. In an hour a Canadian worker produces

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Volodya Gusak

@volodyagusak

9 months

@vancouvermrkt GST removal + high mortgage rates = more rental and less condo.

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Volodya Gusak

@volodyagusak

1 year

@BenjiNaesen Jonas doesn’t seem to know just how great he is. He lacks confidence. He’s less charismatic than Pogi. Yet he’s on another level GC rider. Someone should really just tell him “Jonas, I know it’ll come a surprise to you, but you are a legend level great!”

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Volodya Gusak

@volodyagusak

2 years

@GrammarHippy @GrammarHippy George: • counted to infinity... twice • he can do a wheelie on a unicycle • stands faster than anyone can run … What can you add to this list?

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Volodya Gusak

@volodyagusak

2 years

We have been busy... very busy! Excited to share we (Denciti) just completed our 2nd acquisition of the year. Great start to 2023. Bernard & D'Anjou, Kelowna BC.

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Volodya Gusak

@volodyagusak

2 years

2022 Community Trends Report - Kelowna: • Population is growing fast & getting younger • Indigenous population is growing faster • Immigration is driving growth & increasing diversity • Types of jobs are changing & incomes going up - but not equally • Smaller

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Volodya Gusak

@volodyagusak

8 months

Pro tip: Never fall in love with a site. We tied up a great site, 9/10 location. Great Real Estate! We spent a lot of money on consultants, the usual: geotechnical, enviro, initial design, pre-con. We talked to the planners... Now we have sunk costs. We want to do the deal, we

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Volodya Gusak

@volodyagusak

1 year

@JShamess @CorpayPayables Second home or first and only … I think we have a problem with housing in Canada 🇨🇦 Some might even call it a crisis.

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Volodya Gusak

@volodyagusak

2 years

@IAmClintMurphy Too broad a question, Clint. For a starving person, there is but one objective - to eat. Same with shelter. When you are dirt poor, you do things, whatever it takes. With some wealth, appetite grows for a “better life” & fear of going back to poor. Some get addicted to the game.

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Volodya Gusak

@volodyagusak

9 months

What happens when you develop an industrial product that’s also beautiful? For one, it sells … fast. And then, a national newspaper uses it as an example. Beautiful. Thank you 🙏 The Globe and Mail for showcasing our Langley Gateway light industrial project photo! #reTwit

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Volodya Gusak

@volodyagusak

1 year

@daniel_foch Here’s the back up to my vote. The issues I see in Canada are: • higher sensitivity to rate hikes • artificially propped up GDP • BoC moves in lockstep with the Fed…

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Volodya Gusak

@volodyagusak

10 months

Pro tip for negotiating a land purchase: 👉Meet in person, be honest, and avoid playing games. • Our successful Langley Gateway Industrial project almost didn't happen due to a $200k difference with the vendor. We invited the vendor's family for an in-person meeting and

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Volodya Gusak

@volodyagusak

8 months

Wow, we've hit the big 900 followers! That's right, folks, we're now officially cooler than the average room temperature. Thanks for following! 👊 Let's continue this journey of questionable life choices. Next stop: 1,000 followers... or a support group for excessive real

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Volodya Gusak

@volodyagusak

2 years

@AccentInvesting @IAmClintMurphy I think you can read 11 books faster than a “lifetime”, in fact… 6 months should be plenty of time😉 Add •The 7 Habits of Highly Effective People Stephen R. Covey • The E-Myth Revisited Michael E. Gerber • Good Profit Charles G. Koch • Pitch Anything Oren Klaff & add more!

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Volodya Gusak

@volodyagusak

1 year

@daniel_foch Omg 😱, did you see the loan rates they are paying? Well… I guess they aren’t paying … but still! “The One has not kept certain promises it agreed to when it took out the loans, such as completing construction of the commercial component by March, 2021, the annual interest

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Volodya Gusak

@volodyagusak

1 year

The Zell/Merrill funds were perfectly positioned to cherry-pick the assets around the country. By 1995 they had an impressive collection of trophy assets. Sam had a nickname "Grave Dancer" for how he navigated macro events. RIP Sam Zell.

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Volodya Gusak

@volodyagusak

10 months

@realEstateTrent In my experience (and we are a small shop) that for a great deal there is an abundance of money, always. Those who raise money first are often pressured to place it and buy no matter what.

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Volodya Gusak

@volodyagusak

8 months

You'd think that strong developers, with a great track record would charge the highest fees to the LPs. And that start ups would lower compensation to attract investors. Shockingly, no. In my experience the opposite seems to be often the case. I've seen draconian pitches

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Volodya Gusak

@volodyagusak

9 months

@daniel_foch Yes. The whole world is addicted to cheap debt. How do we achieve deleverage in Canada? Inflate your way out of it? Cut government and consumer spending? Stimulate economy to increase earnings, GDP per Capita? We are clearly in the late part of debt cycle.

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Volodya Gusak

@volodyagusak

1 year

@girdley The official sports drink when I was a kid …

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Volodya Gusak

@volodyagusak

1 year

@daniel_foch Here’s the highlighted text from the Bank of Canada. Typically higher rates lower shelter costs, as prices drop. But the “structural supply challenges” are preventing this from happening.

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Volodya Gusak

@volodyagusak

10 months

Some developers grind broker fees. Others complain about it. Many say things like “oh but he only made one phone call and earned how much?” This is a mistake. Top handful of RE brokers in your network can bring you 80% of all your business. They solve a triangulation problem:

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Volodya Gusak

@volodyagusak

9 months

"Toronto considers new tax on foreign home buyers" Thoughts? French economist, Thomas Piketty, writes: “It is important to stress that the current prevalent fears of growing Chinese ownership are a pure fantasy. The wealthy countries are, in fact, much wealthier than they

John Pasalis

@JohnPasalis

9 months

Canada has banned foreign buyers Ontario has a 25% foreign buyer tax Now the City of Toronto wants their own 10% foreign buyer tax I'm all for curbing foreign investment in our housing market But this is getting a bit ridiculous

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Volodya Gusak

@volodyagusak

9 months

Etiquette Got invited for a lunch by a person trying to earn our business. Decent place, decent restaurant, not cheap but not top either, price wise. He brought his business partner to better “pitch” their services to us. I was alone. I had a salad and a coffee. Server

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Volodya Gusak

@volodyagusak

2 years

People ask, why Kelowna? simple: great place to live Never develop a real estate project you know can fail We all know it, it’s location x3! Right? • population trends up 140k • world class hospital • best in NA midsize airport • UBC Okanagan - big • wineries?! And?

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Volodya Gusak

@volodyagusak

9 months

@scottmelker That sucks, Scott! Geezz… Some ideas: - Magnesium - CBD oils - Meditation (like TM) - Muting Cramer, Fidelity, Gary etc. 😂 - Exercise Good luck

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Volodya Gusak

@volodyagusak

2 years

@ScottAdamsSays It’s amazing what you can accomplish if you don’t mind who gets the credit!

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Volodya Gusak

@volodyagusak

2 years

@IAmClintMurphy Brain 🧠

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Volodya Gusak

@volodyagusak

2 years

@PrivatEquityGuy Ask him why his private security detail: A) Can’t spot the man! B) Let random people like me get so close to him. Then, after we laugh, I’d ask him to spot me. Financially. For my brand new billion dollar real estate fund. One I just came up up because I just ran into him. Yup!

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Volodya Gusak

@volodyagusak

1 year

Proud of the great work by our team! Well done. Unanimous approval. Rezoning of Esquimalt Bingo Hall lot for rental apartment gets green light via @timescolonist

Rezoning of Esquimalt Bingo Hall lot for rental apartment gets green light

Some nearby residents questioned the building’s proposed parkade entry on Old Esquimalt Road, saying it would add traffic

www.timescolonist.com

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Volodya Gusak

@volodyagusak

2 years

I like this. Take care of self, friends.

Clint Murphy

@IAmClintMurphy

2 years

Sundays are for your self-care. Seven suggestions to help you rest, relax, and recharge for the week ahead:

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Volodya Gusak

@volodyagusak

1 year

@SteveSaretsky @riteshmjn @bankofcanada You guys are forgetting that to pay for rising inflation, you need higher salaries. There is another sinister loop - labour inflation. But shhh… can’t talk about it.

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Volodya Gusak

@volodyagusak

2 years

@JShamess But government is working on fixing housing crisis. 🙄

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Volodya Gusak

@volodyagusak

2 years

@twobitidiot Telling people to work "smarter" is like telling someone to "sleep faster". The future is unknowable. What is "smart" can only be known looking back. Sometimes a "useless" activity can be most profitable - like playing a game and seeing use case for blockchain. Work harder!

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Volodya Gusak

@volodyagusak

2 years

Bad news in the retail world for Canada. American companies that didn’t make here: • Target • Bed Bath & Beyond • and now: Nordstrom… gone too. Who else did I miss? Bad news…

Kenneth Chan

@iamkennethchan

2 years

BREAKING... #Nordstrom is shutting down all of its stores in Canada by Summer 2023, including the flagship store in Downtown Vancouver.

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Volodya Gusak

@volodyagusak

3 years

@davidgoggins Doing the uncomfortable makes you grow. Hard is good for your success and your mental state, happiness. Way to lead David.

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Volodya Gusak

@volodyagusak

2 years

@SteveSaretsky Reminds me of @LeoSpalteholz graph

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Volodya Gusak

@volodyagusak

9 months

@deerpointmacro Yes, and unfortunately it gets worse. The IMF projects Canada to have the weakest real GDP per capita growth in the G7 over the next five years.

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Volodya Gusak

@volodyagusak

2 years

Our footprint in Kelowna market is substantial: both industrial & residential. We are committed to this great city for decades to come. And sometimes the best thing for a project is to sell some land. Sold 4.5 acres of industrial land located at 2100 Rutland Road, Kelowna BC.

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Volodya Gusak

@volodyagusak

1 year

How did the industry react to Sam Zell's clairvoyant article? "Sam keeps writing these pessimistic articles because he's trying to save all the good deals for himself." He was realistic. And as with any legends of the industry, he saw an opportunity!

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Volodya Gusak

@volodyagusak

1 year

Last night, June 20 Chilliwack Public Hearing: Council unanimously approved our DP and variances Each Councillor thanked our team for good work & investment in Chilliwack People who were there for other applications got excited and asked questions Great job team Denciti!

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Volodya Gusak

@volodyagusak

2 years

@d_demelis I’m confused. Stagflation is an economic cycle characterized by • slow growth • a high unemployment rate • inflation Canada • added 150,000 jobs in January • Unemployment is record low at 5% • inflation subsiding • yes, slow growth What did I miss?

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Volodya Gusak

@volodyagusak

9 months

Real Estate Development is “easy”, right? Clearly not… But just how hard is it to bring a project on time and on budget? Turns out the odds are very low! 8.5% only. "The Iron Law of Project Management" by Bent Flyvbjerg, Professor at Oxford: - All projects: 100% - On

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Volodya Gusak

@volodyagusak

10 months

@patefortworth Aspen, EV hotel loaner … Harry and Lloyd 😂

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Volodya Gusak

@volodyagusak

1 year

Desjardins report argues that the pain for mortgage holders has barely started The risk lies in what happens when mortgages come up for renewal The bulk of mortgages taken out during the COVID-19 pandemic, when rates were at their bottom 5 year renewal hits in 2025 and 2026

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Volodya Gusak

@volodyagusak

9 months

@goodkarma4344 @daniel_foch I am with GK on this one. It seems like the Bank of Canada is caught between a rock and a hard place when it comes to interest rates and inflation control. 1) The lag effect: Monetary policy changes can take a while to have an impact on the economy. The Bank of Canada needs to

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Volodya Gusak

@volodyagusak

8 months

GM! I am writing an intriguing article for @RENXca that delves into the connection between the real estate (RE) and the economy. The piece explores how housing is a direct consumption good, while commercial real estate (CRE) serves as both a factor of production and an

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Volodya Gusak

@volodyagusak

8 months

Welcome to Denciti: Malich, Dillon, and Min. Brace yourselves for an extraordinary journey filled with passion and progress! And a huge high-five to Myrna, who's back to make Denciti even more awesome. 👏 #retwit

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Volodya Gusak

@volodyagusak

2 years

@fortworthchris “We borrowed 100% debt with no recourse. Bakers asked if we wanted more money.” - Boomer 2

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Volodya Gusak

@volodyagusak

1 year

A few “surprises”: • economists predicted wrong again… 20k GAIN vs 17K LOSS is worse than throwing a dart odds • BoC says “unemployment & inflation are lagging indicators” True! .. but then BoC too often acts opposite. Pandemic rate cuts & now hikes - whiplash fast.

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Volodya Gusak

@volodyagusak

3 years

@ScottAdamsSays Maybe. Or is it screening of people prior to boarding? Clearly it’s not 6ft of separation when I’m fighting for elbow room.

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Volodya Gusak

@volodyagusak

2 years

@jesse_kleine Canada has the lowest number of per capita housing of any G7 country. And it has been decreasing since 2016. Supply / demand goes a long way to explain pricing. But I’m not sure picking one year in the past is the right way to compare and contrast. Why not pick 1968? Or 1996?

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