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rawr 09-12-2023 12:14 PM
Sorry for derailing the thread but how much do you guys pay for insurance in Richmond?

donk. 09-12-2023 12:26 PM
Quote:
Originally Posted by headhunt3r (Post 9108950)
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

sonick 09-12-2023 01:15 PM
Quote:
Originally Posted by donk. (Post 9108999)
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.

Traum 09-12-2023 01:32 PM
Quote:
Originally Posted by sonick (Post 9109005)
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~

Hondaracer 09-12-2023 02:14 PM
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

Phozy 09-12-2023 11:26 PM
Quote:
Originally Posted by headhunt3r (Post 9108950)
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.

68style 09-13-2023 07:55 AM
Quote:
Originally Posted by rawr (Post 9108997)
Sorry for derailing the thread but how much do you guys pay for insurance in Richmond?
$475 for a 1 bedroom+den condo

donk. 09-13-2023 08:04 AM
Quote:
Originally Posted by 68style (Post 9109076)
$475 for a 1 bedroom+den condo
Who you with dawg?
I'm paying 830$ for same size in pomo.....

sonick 09-13-2023 08:10 AM
Quote:
Originally Posted by Phozy (Post 9109063)
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.

westopher 09-13-2023 08:23 AM
Yeah I'm at like $730 I think in North van. Through BCAA

68style 09-13-2023 09:07 AM
I paid $475 last year, my renewal notice just came in at $544 though.

I use Square One.

Gerbs 09-13-2023 09:26 AM
I'm at $683 square one but pretty bare bone coverage. Only care about the $75K strata deductible.

PeanutButter 09-13-2023 10:00 AM
I'm $230 a month through RBC for detached in Vancouver. Earthquake insurance included with rental insurance for guest suite.

Hondaracer 09-13-2023 10:49 AM
That’s pretty good for including earthquake

quasi 09-13-2023 10:52 AM
$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.

Great68 09-13-2023 11:01 AM
$216/month with Earthquake in Victoria. (Detached house)

beatdownvictim 09-13-2023 03:02 PM
5k in vancouver. Had to go thru intact as they were only ones offering earthquake insurance. Our old house was $2500 ._.

mikemhg 09-13-2023 05:29 PM
Quote:
Originally Posted by unit (Post 9108834)
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.

mikemhg 09-13-2023 05:37 PM
Quote:
Originally Posted by headhunt3r (Post 9108950)
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.

JDMDreams 09-13-2023 05:50 PM
Any good reits to recommend? The commercial and office ones suck lately:badpokerface::okay:

westopher 09-13-2023 06:53 PM
Quote:
Originally Posted by mikemhg (Post 9109128)
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.

noclue 09-13-2023 07:28 PM
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.

PeanutButter 09-13-2023 08:53 PM
Quote:
Originally Posted by noclue (Post 9109137)
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.

Badhobz 09-14-2023 04:20 AM
Quote:
Originally Posted by mikemhg (Post 9109126)
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. KEKW

68style 09-14-2023 07:09 AM
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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