Big White is AWESOME! Coffee and Camping...

The kids camp (that has been running for the most of the summer) decided to spend the night camping at Rhonda lake on Thursday. Most of the summer has been beautiful and sunny... most.

My son Luca was not that keen to camp, but we hiked up to see everyone and their camping set-up...


The Carrs with four people had a two man tent... as did the Isfan's but the Isfan's fourth was Gus the (giant) puppy. Now the Isfan's are made of good hearty stock (Shire Horses) and so were able to occupy 148% of the space available... to help with the space issue, Scott chose to pass on the fly sheet option - you know the thing that keeps the rain off...

The Brunts brought their 74 man tent, 14 sleeping bags, bbq, air beds, pillows, quad & two kitchen sinks...

The Martin's were happy to be (just) back from the UK, where they had left their body clocks... what time is breakfast mum?

This looked like it was going to be so much fun... so Luca and I escaped around 6pm. Rhonda lake sits on the east side of the mountain and the sun had already gone down; with the 2000m+/- elevation there was already a chill - how nice was it going to be for the kids who had been swimming to warm themselves by the campfire? Oh wait, campfire ban, no campfires... well at least they had brought towels and changes of clothing... well at least they had air beds... no? er sleeping mats... no? well at least they had those rocks to sleep on...

Which Rockbed is mine?

Jump forward 12 hours - I am in my cosy cosy bed, it is 5:35am, I am just waking to the gentle pitter patter of rain outside - love that sound when wrapped in my big feather duvet, it is peaceful and relaxing - makes me happy to just be. 

My addiction begins to demand service, I get up and make my way to the coffee machine - I am still half asleep, the house is quiet and I move slowly - the dogs lift their heads up and look at me, almost as if to ask 'is it time now?' Yes. 

We have one of the those bean to brew machines. I press the button and it starts, the beans grind and the aroma is released, 'Yes...' my addiction twitches, my brain clicks into first gear and I wonder how long it has been raining.

My first espresso is made - hot, sweet and very strong. Everyone else is asleep, it is just me and the dogs, and the sound of the distant rain through the windows - I sip the intense coffee, my brain slowly comes back to life, and, I think to myself 'thank f*** I'm not camping'

Coffee anyone?

Big White is AWESOME! Coming for the season...?

Are you coming to Big White for the season? Are you looking for a place to stay?

• Are you staying for six months?
• Are you clean and tidy?
• Will you pay your rent on time?
• Would you like to stay in a great place for reasonable rates?
• Sharing a room with one other is okay, sharing with 5 others... not so much?
• Do you want to stay in a place that has been looked after by previous tenants, or the owners?
• Do you want to stay in a place that you could bring your family to visit?
• Would you prefer quieter rather than a party place?
• Do you want to stay in a place that you can go to sleep when you want.
• Would you like a deck/hot tub?
• Will you respect the place you stay?
• Can you prove you have the ability to cover your rent?
• Do you have the ability to pay your first month, last month and half month damage deposit in advance?
• Can you provide references?

If yes (to most questions), then we can help.

Sólido Properties has places available in-

• Snowpines - three large bedrooms (two ensuite), games room, den with double bed, deck, hot tub, laundry, 3.5 bathrooms, private garage. Ski in and walk out. 2500 sq ft. 7 people, maybe 8.
• Village - penthouse in the best property and location on the mountain - two bedrooms, king bed, and 2nd bedroom with two queen beds. Two bathrooms. 6 people max - Rates are high.
• Lower village - three bedroom/two bathroom property - suitable for 6 maybe 7, view side, deck.
• Village - two studio apartments (no bedroom) - can sleep 4 & 3 respectively - would be better for two singles or couples. Full bathroom but only half kitchen.
• Snowpines - two rooms available in a luxury property - will be sharing with the owner and 11 year old daughter - good for two couples or one couple and two singles.
• Lower village - three bed town house (x2) deck, garage, two bathrooms. Would suit three couples or max 6 people.
• Apartment in a chalet - self contained, owners prefer a stable couple.
• Timbers - three bed penthouse suite - deck, hot tub, two bathrooms (one ensuite) one jack & jill, gym, games room, underground parking, granite, steam shower.
• Copper Kettle - three bedroom.
• Raven - penthouse rooms, 7 spots available - in unit pool table, bar, two decks, hot tub, BBQ, X-Box. Building has a gym and pool.
• Raven - two bed plus den - max 6.

We are in the process of placing people now and we have places coming available constantly, if you are interested in any of the properties and meet the criteria please contact us through Facebook.

Rates-

Hide-a-bed, not a closet. 

The rates at Big White are what they are, by November/December, the worst places will go for $550 per person per month - and you may have 12 or more in the place. 

Properties-

One bed places are very hard to find, studios - yes, but you are looking at up to $1500 per month for 'okay' places - $1200 for very small.

 

The place on the left - 6 people, $600 per month each, min 6 months. The other - two people $600 per month each, min 6 months... Where would you rather stay?

Pitch
Sólido Properties owns, rents, manages property and buys (beer) - if you are looking for seasonal staff accommodation, contact us. We do not deal with slum or party properties, we do not overcrowd, we provide high quality, value for money accommodation; we provide the type of place where your mum would want you to stay... Actually we are lying about the last bit - we don't know your mum.

We are not looking for groups of 8 guys or similar - sorry, our owners have strict criteria. We only take email payments, wire transfers, credit or debit card (fees extra).

Big White is AWESOME! Why we need to become our own Municipality...

Big White is part of the Regional District of Kootney Boundary. I believe it should be its' own municipality. Without being an expert or really, even moderately knowledgable about the workings of local government, there appears to be some obvious reasons.

Tax Base and Budget Allocation.
I have mentioned this before and I highlight the fact again. Last year the property tax submitted to RDKB was $4.2m. Approx 49% went to Provincial - schools, police and hospital funding. And approx 50% was allocated to Big White - fire department etc.

Net zero - we put in net $2.1m the community receives net $2.1m. However.

• The RDKB budget for the district is $33m this year. The property tax revenue is expected to be $17m. Extra funding comes from asset management, previous budget surpluses, revenue streams, provincial funding programs etc.
• This means for every dollar of tax sent to RDKB there is $2 of spending allocation.
• Proportionately Big White should have $8.8m allocated to the area - not $2.1m

This year the RDKB's Recreational and Cultural Development budget is $6.4m. Projected over the next 5 years it is similar. Zero is allocated to Big White - Zero! 

Provincial Funds
Big White cannot apply for provincial funding. 

Sun Peaks secured $470k of provincial funding in March 2012. Sun Peaks, under the Resort Municipality Initiative (RMI) is eligible for $310k per annum to focus on the goal of increasing visitation in the Summer and Shoulder seasons.

Click Here.

Big White would be entitled to similar if it achieved Resort Municipality Status.

Real Estate Values
There are numerous factors putting downward pressure on property values at Big White. One of the factors is the ability to finance a purchase - banks are reluctant to lend to resort and/or recreational property purchasers. Municipality status would change the banks view of lending to buyers at Big White. This would-

• Attract more buyers.
• Attract more residents
• Increase values.
• Increase tax base.
• Generate more revenue for existing business
• Encourage more businesses to open during the off and summer seasons.
• Create Community Growth.

Fair Representation
Big White represents almost 25% of the net tax base of the RDKB - we have no say in how budgets are allocated. 3000 property owners at Big White - zero influence.

Self Direction, competition and growth.
Sun Peaks - with $310k per annum to develop the resort? We can only compete, if we have a fair playing field - "Come to Big White in the Summer - we have nothing." Is our current offering. But market conditions change with marginal increases - the Globe has seen huge increases in customers this summer, achieving lots, with very little - imagine what we could achieve with a sustained campaign budget and self directed resort plan? lots?

5-Year Plan.
Where will Big White be in 10 years? The same? No, please, if our competition is moving forward and we are stagnant... we are moving backwards.

Five years, is my goal to Resort Municipality status - but I cannot do it alone. We need to determine what, and execute, the actions needed, to achieve that goal.

Complacency achieves nothing...

Big White is AWESOME! Huckleberries and stuff...

 

I told you, I took my wife Miking... and after pushing her bike most of the way up the mountain, she got a puncture... Yes...? We laughed... well one of us laughed... well one of us laughed until the other one gave the laughing one the "look" at which point the laughing one realized we were heading to a "Fine." situation... and he stopped laughing. 

Following a series of yes dear, and no dear, and sorry dear, and it won't happen again dear, and no, it was not funny at all dear... We made our way down to the village, to hit our favourite destination.

Almost every day (especially when I hike... or even... "mike") I hit the Globe for a coffee, and if I am feeling particularly exuberant... a bacon and egger... er Yum! They taste so good, cos Ben and Jo make them with luurve... True.

After miking up the mountain and then experiencing the definitely unfunny, puncture followed by a long hike down, (not miking) - we were looking forward to our regular coffee... I could smell it, I could taste it, I could see the aroma rising from the mug... but, no...

This seems like fun... except for the er... fun bit... Can't wait for my coffee...

Imagine the distress when I realized the Globe was closed and my lovely wife would not get her coffee! Do you have any idea what this meant...? Any...?

...Closed... for the love of god mother, why? Then I recalled, there were some pictures... drinking, 4am (ish), party for the popular people, regulars and such (not every regular apparently... I am the best customer... well, probably, if I paid my bill I would be... at least top 250 anyway) 

Wait, what?

Wait a minute was the Globe closed because there had been some R&R the night before...? God forbid! But yes I think it true...


Now according to Brad (and yes apparently he still works there, despite the rumours...) Ben had to do something with something and there was no chef and blah blah blah blah... And Jude said this and at 4am that... 

What..! Ever...! - Where's my  Coffee!


Now some people would say the staff work really hard (they do) and deserve the one day off a year (yes, okay, if you must). Some people would say look, they worked 17 hours yesterday. Some people would say... Blah, Blah Blah... Coffee! Some people would say it is not about me - er what? Some People!

Calm down... look at the pretty picture, a flower... pink... pretty...


And breathe in... and out... ahhh. Make my own coffee I will... yes Luke, join the dark (roast) side... we have Amaretto cookies.

Ok, yes, my name is Chris "Hi Chris" and I... am... a... Globa-aholic... today is day 2 of being Globe free, and everyday is a 'sniff'  challenge... ...it all started when I was a little girl, uncertain of my secularity...

But I must be strong... fight the cravings... so here I am at Pulp Fiction - Downtown Kelowna not drinking Globe coffee... every day is a challenge...

Anyhooo... we went  Huckleberry picking last night - man, there is tons of the stuff, they were everywhere - and then we found some big ones... Kind of look like Blueberries but er not blue... So it was huck muffins tonight - 'maybe I won't have two... maybe'

Apparently you cannot eat too many of these berries or you get aggressive... it is true - bears eat lots.

Pitch
Sólido Properties owns, rents, manages property and buys (beer) - if you are looking for seasonal staff accommodation, contact us. We do not deal with slum or party properties, we do not overcrowd, we provide high quality, value for money accommodation; we provide the type of place where your mum would want you to stay... Actually we are lying about the last bit - we don't know your mum.

Big White is AWESOME! Employment..

Big White estimate there are roughly 1300 seasonal staff each year at Big White. And using my advanced math skills and a very complicated formula I was able to calculate with a 5% significance level the number of employment opportunities available at the resort.

I could be way off but the calculations point to around 1300...

I have touched on working at Big White before, so apologies if I am repeating myself.

Realities.
Seasonal staff begin to arrive early October (earlier in some cases) but most jobs will not start in earnest until the season begins - late November/ early December. This will mean potentially a couple of months without income... expenses are ongoing so you should factor this into you travel budget.

Employment types -
It is a resort, tourist driven industry - Big White requires - serving staff, cleaners, snow clearers, labourers (skilled sometimes helps - electrician etc), lift operators, ski/snowboard instructors etc etc.

There are some positions that will begin earlier... for example if you get a position in housekeeping you may find yourself part of the property preparation teams. A serving position at Sam's may commence in November (as may Globe, Blarney Stone and the store) which will help with your budget...

A liftie or ski instructor will not start until skiing starts obviously...

You should also ask yourself how important the skiing activities are, compared to the job - a Monday to Friday, 9am to 5pm is going to limit your skiing to the busy weekends - an evening job on the other hand...

If it was me (and I did a season in France a long time ago) my first port of call would be the bars and restaurants -

Globe
Blarney Stone
6 Degrees
Bullwheel
Black Diamond
Kettle Valley Steak House
Loose Moose Lounge
Raakels (if opening)
Snowshoe Sam's
The Market at Big White
Sante's
The Bakery
Gunbarrel Grill
Underground Pizza.
Beano's

Other employments opportunities-
Vacation Services
Big White - by far the largest employer on the mountain.
Rent Chalets
Chalets at Big White
Medical Clinic.
Big White Spa Services
Major Domo

Do a Google search - you will find them.

Some places will help you with your ski pass - ask in advance. And some employers help with providing or finding accommodation (Big White, The Market, Beano's). Looking for jobs earlier will help find a better position - the best jobs will go first!

Keep in mind all employers require a full season commitment - you getting bored in March and leaving, creates problems. With this in mind employers try to 'encourage' commitment - Big White tie the seasons pass and accommodation to the position. Some employers may offer an end of season bonus - paying for your ski pass if you finish the season etc. 

For some of you this may be your first real job - being late, being drunk, taking random days off, and or hungover is not acceptable - you are the responsible adult! 

And keep in mind businesses at Big White have 12 months of fixed costs but only 5 months of revenue... the beer you serve may have a 20% profit margin, out of which has to come - wages, rent, utilities, delivery service, cleaning etc etc. Your 15% tip is more than the bar makes - don't resent the owner his profit.

Other than that have fun! It will be an experience of a lifetime, you will meet new people, make great friends, and create lifetime, lasting memories.

Pitch-

Sólido Properties owns, rents, manages property and buys (beer) at Big White. We offer guaranteed or direct to owner income. If you are interested in renting or would like to know more contact us on Facebook or our webpage.

Big White is AWESOME! Miking.

Miking... Yes it is my new word, I figured the English language was lacking in verbs so I added one, all by myself.

To Mike - is to combine hiking and mountain biking together... or... push your bike up the hill and ride down. 

The map (my Miking trail from Friday) shows I started at High Forest, I did start at the Timbers but only logged on at... The loop you can see is the first part of the cut mountain bike trail (Thanks to Gavin I think) - it is quite a technical trail (I was scared, cos I'm not very good) - and then back up again towards the top of the Ridge Rocket.

The sun was shining, the temp perfect, I rode past the lake at the bottom of Powder Chair - and I took it easy, lowest gear and pushing when it was steep - Miking, it was great!

People have mentioned bear sightings but I have probably been up the top 40 times this summer and not a sign - no scat, no prints, nothing. I did have a bit of a scare though.

I was riding just on Serwa's just getting to the flattish bit, close to the top of the Ridge. I have trance music in my ears, I have been riding for probably an hour and I am at peace with the trail - my dog, Hobbes the big dude is up ahead, and everything is good... Suddenly, in my peripheral vision I see brown and big, and next to me... moving - and did I say big... My heart did that little skip - you know the one, 'uh oh, I am going to fall off this cliff' before I realized it was Yoda and Lucy (two of the Globe dogs). 

Yoda comes hiking around the mountain with me regularly, Lucy once or twice - but I had been out for over an hour - god knows how they found me or how they got there. They came back with me, and we went to Globe for coffee, (they choose water) it was all cool.

Pitch-

Sólido Properties owns, rents, manages property and buys (beer) at Big White. We offer guaranteed or direct to owner income. If you are interested in renting or would like to know more contact us on Facebook or our webpage.

If you are interested the tracking is done with imapmyfitness.com - it is a great iPhone app.

Brief one today - I am off Miking again - you should try it.

Just a quick addition, I took my wife Miking today, not quite as successful, she pushed her bike to the top... through Snowpines up to the bottom of the powder chair then up Meadowlark to Serwa's and finally to the top of the Ridge Rocket. Great! Then she got a puncture... so she pushed her bike back down to Happy Valley... 

Map 

Create Maps or search from 80 million at MapMyFitness

Big White is AWESOME! UK not Big White.

I just realized with all this education I now have, I am now so clever, that sometimes I don't understand a single word of what I am saying...* Mr. Wilde

So I have spent the last few days in the UK - a four day trip, two are travelling... I was in London, I cannot claim it is my favourite place... I had some free time today and I got myself to a squash club - The Concorde Club. Sounds posh eh? No. 

I miss Big White, I miss, the fresh air, I miss the space, I miss hiking the mountain (I really do, I was in the gym and the thought of getting on the treadmill...) I miss coffee at the Globe, I don't miss being surrounded by 11m people and of course I miss my family.

And even though with the strength of the Canadian dollar I can buy a pound for only $1.60 it is still effin expensive. I played squash like I said, in a place not suitable for the Queen. 

7.2 miles from my hotel 
- taxi $60 return. (every been to Hong Kong? $6 almost anywhere)
- use of facilities $13+/- for 40 mins

$75 for a bit of squash... really? Just a bit of a Victor Meldrew me.

I could go on about the financial pleasures of London or the UK in general, I could talk about the traffic, I could express my disdain for the weather and overall depressive/oppressiveness of the city... I could...

I went into the centre of London (Blackriars) for business, and then I had to get to Guildford. From Blackfriars a taxi saved me a 35 min tube ride, and then 45min on a crowded train (the fast one apparently). I sat and watched the (every day, journey) commuters - did not look like Fun...! I have the option of living at Big White... after my first degree I briefly attempted to work in London - "Good god man, what were you thinking...?"

Property
I met with an old business friend of mine, developer (like me), crashed and burned (like me). Rob had to regroup and he started selling high end property in Saas Fee, Switzerland. Switzerland is an interesting place, you can get a type B residency permit for $2k (plus bureaucratic hoops etc) - gives you permanent residency - you can work, buy property etc. (or so I am told). 

Rob is familiar with Big White and we naturally discussed comparable property values... In Saas Fee an older place will cost around $800 per sq ft, a new place $1200. Further afield prices jump $3300 - $5500 per sq ft. The Edge homes I built with 3800 sq ft would at a minimum be $4.5m, going up to $19m...? You can buy the big Edge, 3800 ft place today for $825k... Interesting times.

Edge at Big White.

I have not done the research to support Rob's stats but the place above is asking Swiss 22m or $24.24m Canadian... discount for cash?

We talked about reasons for the disparity...

Finance-
In the UK you can get a 95% mortgage, government insured - it is called a "Helping Hand" mortgage - if you have 5% the government will kick in 20% of the property value, to allow the buyer to attract low ratio, low interest mortgages (I saw an offer for 1.49%). The 20% is interest free for five years. 

In Switzerland a property buyer can finance their purchase at 2.4% fixed for 20 years, with an amortization period of 100 years - think about that. On at $200k purchase your monthly payment would be $440 per month - fixed for 20 years. Add a little time value of money... i.e. what will $440 buy you in 20 years?

Swiss 1741

At Big White, the banks will not finance Snowpines - the property corporate structure is now a no, no... unless you don't need finance. To buy a duplex property I need more than 25% (trying right now - and being challenged) the interest rate would be okay, but a two to four year term. But god damn it, what do the Brits or Swiss know about banking and finance? Nothing I tell you.

All-Season Activities.
Property values at Big White are below their 2000 levels in some instances. Silver Star managed to hold their levels (more or less - there are foreclosures tho). Sun Peaks, Whistler, Mont Tremblant - year round activity. Big White owners survive with an average of 65% occupancy on a 130 day season = 84 days of revenue... or 77% of the year vacant!

Let me just say here the properties at Big White are world class luxury (not all, yes, but many) 17,000 beds, 77% vacant equates to 1.4m+ vacant days at Big White... but they all pay 12 months of mortgage, tax, utility service (yes I know but there is a connection fee), water, sewer, phone, internet (the smart ones disconnect).

European Access?

Direct flights from London to Kelowna would boost the European tourists to Big White immensely - we don't have it, they go to Whistler or Banff. Getting the flight though... Big White cannot accommodate a charter flight full of holiday makers - we would need someone to build a great big hotel, Ha!

Tax Revenue and Independent Status.
I have said this before - Regional District spend $2 dollars for every property tax dollar collected. This would equate to $8.4m at Big White, Regional District spend $2m at Big White. $6.4m of this years budget goes towards Recreational and Cultural Development - not a single penny is allocated to Big White. Not a single penny over the next five years either.

But this is another reason for ultra low property values - we are considered purely recreational real estate - or in the lenders eyes High Risk.

With independence comes the ability to secure provincial funds, funding mountain growth, funding mountain development funding resort sustainability - without a coherent cohesive voice chasing this goal, Big White will remain in limbo and property values will struggle to reflect their true value.

I am now back at my beloved mountain and off hiking!

Pitch- 
Sólido Properties owns, manages, rents properties and buys (beer) at Big White Ski Resort. If you are looking for long term rental revenue or guaranteed income contact us.

*Oscar Wilde

Big White is AWESOME! Random Musings 2

MBA

So I not only finished my MBA but I also passed... woohoo! I can now put MBA after my name. So with all my experience, 5 years of study and hardwork... I write a blog... what? I do other stuff as well... dishes, and drink coffee (yes Juda, I will pay... maybe, when I make some money).

My lovely wife Susan is the literature graduate, me I am the business guy (yes Susan, it is still business even if I don't make money... or even if I lose it... have you guys seen the Edge...?) 

Good on ya mate.

Funny how life is, she doesn't write and I don't make money... But I am confident, one day I won't have to make any money, one day money will be irrelevant, one day I will be old and senile and will yell at people and tell them their coffee is cold... Cos no-one gets out alive - whatever path we take, we all have the same destination - so choose a good path, oh, and a good partner.

But if you don't choose a good partner, have fun making sure their lives are miserable... only joking, but that does lead me back to Jo and Brad... what? You know, three (or four) posts ago.

Jo & Brad are the happiest people I have ever met, they are always smiling, always chatty, always happy to see you (Paul...) But note, they are single - not married, no boyfriend/girlfriend, no significant other, unless you count Lucy - Jo's dog, and er... Brad's truck...

Susan asked me "could I always be that jolly?"

"No." I laughed - "I'm married." she didn't laugh. But she is Canadian. Actually the Canadian sense of humour is similar to the English one, except not funny.... I got that 'look' when I explained this to her... good job we've already had a 'cuddle' this year... G rated. 

Panhandling

You have seen them in any major urban area, city centre - Vancouver, Toronto, London even Kelowna. Big White does not have any panhandlers... All of these places are big and successful and popular - now there is a movement to evolve Big White into a year round resort, to fill the 17,000 or so empty beds, to become its' own municipality, to grow and 'be all it can be'. 

What does Big White not have? What is the difference between Big White and other popular places? I was at Silver Star yesterday, man what a contrast, they have tons of mountain biking trails, lifts open for hiking, all the stores in the village were open, coffee shop, bars, there is a wine festival coming, art gallery open, a wedding going on - it was busy busy busy!

 Big White is behind the ball here, and we need to catch up, we need to take the next step... we need to be the leader this time - we need to be first with our very own resident panhandler!

Nominations to Michael J, please.

People at Big White.

Have you seen all these people around? Man it is great, we have renters in the Raven, in the Timbers, in Trailside, in Crescendo... I believe a big part of all these people really is the Globe - now that they are established and people in Kelowna know it is open... I think it makes a big difference. Hats of to Jude, oh and that other guy - Debbie Harry.

Mission Idiotpossible.

Yes, I got stuck on the cliff, actually it was caught on film-

Mission Idiotpossible.

Obviously I am in disguise, it is a wig. And it is the abbreviated version if you are wondering.

The mountain is my Muse.

It is really - I hike up there (or get stuck on the cliff, whatever) and I think of crap things to blog about - actually people ask me all the time 'Why do I blog?" maybe next time I will answer that one, along with the other popular question "will you please stop?" 

I was the little black dot on the right, no not that one, the other one, next to the white dog.

Actually, I think we may be in for a treat next week, we may have a celebrity writer contributing... da da daaaa!. I told him any article had to be up to scratch... which is marginally above crap. Once he gets the level right (low enough) we may see something.

England

I am off to England again - London this time, apparently the city cannot survive without my input - must be the education. I was supposed to go today, but after the recent change, it changed... and again... so now I am off on Saturday... probably...

Okay that is it for my random musings this time.

Pitch-

Sólido Properties owns, manages, rents properties and buys (beer) at Big White Ski Resort. If you are looking for long term rental revenue or guaranteed income contact us.

email

C. MBA.

Big White is AWESOME! Property & GST (not awesome) at Big White.

Er boring!

Yes I know.

I worked as a realtor at Big White for three years and I have developed & sold numerous homes on the mountain - GST always came up.

Goods and Services Tax (GST) is the biggest pain (for me) when it comes to home ownership at Big White. The rules are complicated and sometimes a grey area. I have been dealing with property for 13 years. When I set up Sólido Properties I consulted my accountant - PMF (who incidentally was a partner with KPMG) for some guidance. PMF referred me to a GST consultant.

1. GST is applicable on property purchases, in the time I have been at Big White this has ranged from 7%, 6%, 5%, 12% and now back to 5%. 12% on a $2m property, the sum is significant (I sold three $2m places and numerous $1m+)
2. GST can be deferred on the purchase price if the intent is to rent the property on a short term basis - 30 days or less, i.e. vacation rentals.
3. As an owner you are permitted your own use for 10% of the rentable period. With only a 5 month season at Big White, this equates to half a month or two weeks.
4. Without doing the actual analysis most realtors agree 95% of purchasers at Big White chose to defer the GST payment.
5. If you defer, you charge GST to your renters - makes sense really; if you will only use the property a couple of weeks a year, let your renters pay the tax.

In addition if you use a full management rental company, they usually charge the GST anyway.

But what happens if you use the property for 20% of the time one year? Or your renter wants to occupy the property for 11 weeks? (right now I have 60 skiers in the UK looking for 11 week rentals). Technically you are supposed to self assess and pay a proportionate amount of GST. What happens if next year your revert to below the 10% ceiling? Well you self assess again and claim back the GST... What happens if you occupy over two tax years like Christmas and New Year? Well, proportionate again, per year. 

Head hurting yet? What if you GST report monthly, quarterly, semi-annually, annually...?

Ok, what if you bite the bullet and pay the GST? Well a couple of things now (and this is not official - speak to your accountant) you may be able to get a new home rebate (36% of the 5% GST you pay.) Maybe...

In addition, you can pay your GST and then enjoy unlimited use and/or long term rentals and then change the usage back to short term (when you want to sell) and claim back the GST - but only up to the amount you originally paid. So if you pay at a $200k value today and the property doubles in value you can only recover at the $200k level, at the rate you paid.

Again - talk to your accountant and even then the answer may still be wrong...

With GST at 5% and property values below the 2000 levels (in some properties) it could be worth paying...

So (this is not to advice) the path I am going to follow with my properties here. I am going to pay the GST on the property, and since it has always been GST registered, try to claim back the rebate.

Sólido Properties owns, manages, rents properties and buys (beer) at Big White Ski Resort - and the disclaimer again - this is not accounting or tax advice!

For more confusion visit Revenue Canada.

Big White is AWESOME! Cos the people pt 3 - The Jude...

Jude

The Jude...
Co owner with Paul at The Globe, Big White - some say the better half (everyone) some say the weaker half (Paul) but who am I to say...?

Jude is very famous and actually the song 'Hey Jude' by the Beatles was written about someone else - Judith Charmers. The demo version was originally entitled 'hi Judith' - true story...

As you know Ms Charmers hosted the very popular UK show "Wish You Were Here." Another famous Sri Lankan, Roger Waters, loved this program so much he convinced the rest of the group -Pink Floyd- to compose the famous album "The Wall." in honour of said Charmers.

Similarly to Jude, both Roger Waters and Paul McCartney probably have the same number of fingers as our Jude.

Our lovely Jude was at the recent Beatles (minus 3, plus some others) concert in Seattle where Paul McCartney actually sang some songs... including (you guessed it) "Yesterday." And coming full circle, our Jude was in attendance...!  Can you say coincidence?

Juda

Another very interesting thing about our Jude is the Brunt family dog - Juda (one of the Big White Dogs) Jude has often commented that she thinks she looks kind of like Juda...

Not sure I see the resemblance myself, but you be the judge - 

If you are around at Big White visit Globe and check out the family resemblance whilst having a free coffee (only $2.50) or a Guinness - Globe is open all the time (except when it isn't). And the rumour is (which I am just starting now) we may see Globe open late Friday and Saturday nights... during the ski season...! 

Pitch-
Sólido Properties manages, owns and rents, property; buys (beer) and sells nothing at Big White ski resort. For more information, contact us through Facebook.

Living proof that old Floydy was wright about not needing education.
C.