All Forum Posts by: Nec Nec

why are they against out of town investors?
they help boost the economy.

Hello fellow real estate freaks.

I have a dilemma and am in search of some help and guidance from my fellow investors.
Next week I stand in front of city council (city of Saskatoon) and must explain to them why and how condo conversions will help their city.

They have put a stop to conversions because the city has a 0.6% vacancy rate and they don't want loss of "affordable housing".
They fail to mention they haven't built any government subsidized housing in 40 years.

My main arguments are that :
A) I'm not responsible for funding any sort of government housing projects so why should i be punished because of the lack of planning from the city.
B) condo conversions will revitalize broken and beaten up buildings in tough neighbourhoods.
C) most of the condos when completed will be bought by out of town investors and will still be in the rental pool. Not as apartments but as beautiful newly renovated condos.

Can anyone please help me with some more good points.
I need to show that the pros outweigh the cons when doing a condo conversion.

Any help would be greatly appreciated,
Thank you

-Emil