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Old 09-12-2023, 01:14 PM   #27826
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Sorry for derailing the thread but how much do you guys pay for insurance in Richmond?
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Old 09-12-2023, 01:26 PM   #27827
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Recently, I've found myself really disliking private equity and investors in general.
What's the difference between a company that is, or isn't traded on the stonk exchange?

Aren't all companies "private" when they start, and then open the doors to the stonk world, so they can have 1000000 "investors" that buy their stonk for the low price of x-xxx$/share?

Unless I'm completely missing what your trying to say
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Old 09-12-2023, 02:15 PM   #27828
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What's the difference between a company that is, or isn't traded on the stonk exchange?

Aren't all companies "private" when they start, and then open the doors to the stonk world, so they can have 1000000 "investors" that buy their stonk for the low price of x-xxx$/share?

Unless I'm completely missing what your trying to say
Private Equity firms buy / invest into private businesses with funding for a share of profits.

So if a company needs cash to grow their business, they can go to a PE firm to get that money, but then the PE firm will get a piece of the action if they grow or if they sell/get acquired.

Because of how its setup, typically once a company gets investment from a PE firm, the PE firm tries to squeeze the company for all of its worth to maximize the returns, regardless of long term health, stability, quality of product/service, etc. all about maximizing the return of their initial investment then selling it back out.
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Old 09-12-2023, 02:32 PM   #27829
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Because of how its setup, typically once a company gets investment from a PE firm, the PE firm tries to squeeze the company for all of its worth to maximize the returns, regardless of long term health, stability, quality of product/service, etc. all about maximizing the return of their initial investment then selling it back out.
And that sounds exactly like the parasites that they are LOL~
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Old 09-12-2023, 03:14 PM   #27830
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With PE as well, no one knows their holdings correct?

That’s like that company that owns all the buildings in new west etc. just a slum lord PE with who knows how many holdings. They have no obligation to report on their individual assets
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Old 09-13-2023, 12:26 AM   #27831
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Quote:
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Recently, I've found myself really disliking private equity and investors in general. They mostly don't provide much value to the world and are more leeches than anything. PE buying into RE is just one of many. PE in the business world is the same. They just find any industry that they can squeeze a dollar out of, and then start an M&A shit storm then leave after they've "improved efficiency" and made a buck.
While i agree to a certain extent, to this I say, try to keep an open mind. Especially locally, buyouts from PE firms can provide exit opportunities for founders and shareholders alike to retire on nest eggs, cash out, be able to live a life or do the work without having to be burdened by the administration of the Company.
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Old 09-13-2023, 08:55 AM   #27832
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Sorry for derailing the thread but how much do you guys pay for insurance in Richmond?
$475 for a 1 bedroom+den condo
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Old 09-13-2023, 09:04 AM   #27833
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$475 for a 1 bedroom+den condo
Who you with dawg?
I'm paying 830$ for same size in pomo.....
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Old 09-13-2023, 09:10 AM   #27834
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While i agree to a certain extent, to this I say, try to keep an open mind. Especially locally, buyouts from PE firms can provide exit opportunities for founders and shareholders alike to retire on nest eggs, cash out, be able to live a life or do the work without having to be burdened by the administration of the Company.
As with any industry there are good and bad eggs.

The company I work for the founder did just that, was able to sell it after running the business for 15 years with a lot of stress.

Benefit was that the company continues to run rather than to be completely liquidated; we all continue to have jobs and growth opportunities as the founder steps back and key people get a step up in their roles for growth.

That said, there is definitely more pressure but so far it hasn't been completely unreasonable.
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Old 09-13-2023, 09:23 AM   #27835
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Yeah I'm at like $730 I think in North van. Through BCAA
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Well.. I’d hate to be the first to say it, but Westopher is correct.
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Old 09-13-2023, 10:07 AM   #27836
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I paid $475 last year, my renewal notice just came in at $544 though.

I use Square One.
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Old 09-13-2023, 10:26 AM   #27837
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I'm at $683 square one but pretty bare bone coverage. Only care about the $75K strata deductible.
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Old 09-13-2023, 11:00 AM   #27838
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I'm $230 a month through RBC for detached in Vancouver. Earthquake insurance included with rental insurance for guest suite.
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Old 09-13-2023, 11:49 AM   #27839
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That’s pretty good for including earthquake
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Old 09-13-2023, 11:52 AM   #27840
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$1219 a year for a detached in Cloverdale, basic policy, do not have earthquake insurance and have used a broker the last 4 or 5 years.

I used to go through BCAA but they kept raising my rates significantly every year and it was getting too pricey like $2,500 without Earthquake, have never had a claim in over 20 years of home ownership.
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Old 09-13-2023, 12:01 PM   #27841
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$216/month with Earthquake in Victoria. (Detached house)
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Old 09-13-2023, 04:02 PM   #27842
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5k in vancouver. Had to go thru intact as they were only ones offering earthquake insurance. Our old house was $2500 ._.
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Old 09-13-2023, 06:29 PM   #27843
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my cleaner came onto me so thats why i had to fire her lol. she was my age and filipino. looks wise she was like 4/10.. she kept buying me gifts that i didnt want and i had to keep displaying them or i felt bad. like she noticed i had 5-6 watches on my counter so she bought me a watch holding rack thing... also she started cooking me food and came over wearing verrry casual clothes... top with low shoulders, showing her tattoos, etc... she made me pancit which had tons of liver in it... i tried to eat a few bites but i hate liver, i had to toss it all out.

one day i was hungover in bed and she came to the door to pick up the containers. she was the nanny of my friend/neighbour across the street so it wasn't out of her way to stop by at all. i was so hungover and didnt want to talk to her so i just told her i left the containers outside the door and just come grab them. she blew up my phone with texts all pissed off, saying how rude that was that i wouldnt at least greet her or let her in, etc... ghosted her after that and never got a cleaner again.
She wanted your unit buddy, you should've gave her that sweet longanisa.
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Old 09-13-2023, 06:37 PM   #27844
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Recently, I've found myself really disliking private equity and investors in general. They mostly don't provide much value to the world and are more leeches than anything. PE buying into RE is just one of many. PE in the business world is the same. They just find any industry that they can squeeze a dollar out of, and then start an M&A shit storm then leave after they've "improved efficiency" and made a buck.
The problem with private equity is that a lot of private equity funds are directly linked to public/private pension dollars.

The problem is also that we've tied our entire idea of retirement and pension funds to the market itself. What is the fiduciary duty of a money market manager for their clients? Make money, make profits. Where are the easy profits in Canada, historically? Real estate.

A prime example is the OTPP (Ontario Teachers Pension Plan). Their plan owns tons of assets in real estate, the fund is rich, the teachers are not.

We've created this self-fulfilling circular market problem. Housing is too expensive, yet pension funds need housing to be expensive and profitable in order to produce the returns to fund their pension liabilities.
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Old 09-13-2023, 06:50 PM   #27845
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Any good reits to recommend? The commercial and office ones suck lately
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Old 09-13-2023, 07:53 PM   #27846
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The problem with private equity is that a lot of private equity funds are directly linked to public/private pension dollars.

The problem is also that we've tied our entire idea of retirement and pension funds to the market itself. What is the fiduciary duty of a money market manager for their clients? Make money, make profits. Where are the easy profits in Canada, historically? Real estate.

A prime example is the OTPP (Ontario Teachers Pension Plan). Their plan owns tons of assets in real estate, the fund is rich, the teachers are not.

We've created this self-fulfilling circular market problem. Housing is too expensive, yet pension funds need housing to be expensive and profitable in order to produce the returns to fund their pension liabilities.
And that's where 40 years of government policy has been a huge fuck up. The government has essentially funded the country off of real estate being one big giant rodan and fields.
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Old 09-13-2023, 08:28 PM   #27847
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I have earthquake insurance but I'm slowly being skeptical. If the big one hits, there's a good chance all of the insurance companies can go under. Then the material costs will go through the roof for the rebuild demand. Then there's not enough tradespersons in Canada to rebuild the greater Vancouver area so it'll take forever.
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Old 09-13-2023, 09:53 PM   #27848
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I have earthquake insurance but I'm slowly being skeptical. If the big one hits, there's a good chance all of the insurance companies can go under. Then the material costs will go through the roof for the rebuild demand. Then there's not enough tradespersons in Canada to rebuild the greater Vancouver area so it'll take forever.
Most of the insurance companies are national if not international, so I don't think they will go under. It's be f*cked for sure, but I'm not sure how it will play out.

From what I learned though, our next earthquake will be like a 9.0+ and our city will be wrecked.
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Old 09-14-2023, 05:20 AM   #27849
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She wanted your unit buddy, you should've gave her that sweet longanisa.
This is exactly what happened to Arnold. Get a housekeeper. Fuck the housekeeper.
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Old 09-14-2023, 08:09 AM   #27850
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The weirdest thing for me about Arnold is that literally every single person on the planet knows what he sounds like when he's getting his rocks off
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