I hope this email finds you well and enjoying the summer vibes!
I have been wanting to get in touch and provide an update, both on a personal note and with our projects.
It has been a change going from school season to summer mode with the kids at home. In the first week my kids were done school, I got huge clarity that I needed to take the next 2 months to spend as much time as I could with them. As with all summers, the time is only going to fly by and so I want to be intentional about this special time my older kids are home more than usual.
I still have to tend to the projects but it just means more consistent 5am mornings and efficient meetings touching base with my team. I’m hoping others too are taking this special time to really engage with their families.
I have been subscribing to the the teachings of Dr. Shefali Tsabary through her books Conscious Parenting and The Awakened Family which have been helpful to navigate parenthood of a teen and just adapting a view that our children are gifts and act as a mirror on ourselves.
Just like we work on our development in our careers, and on ourselves, it’s important to always improve our parenting skills as well and be open to other perspectives.
On a professional note, we wrapped up another year with Synergy Mastermind. The last in-person conference was in Victoria and it was great seeing other members in person. I only have good things to say about this Mastermind and encourage you to find your group where you will be challenged, inspired and supported. They are reviewing applications for 4.0 so if you are curious about joining Synergy, feel free to reach out and I’d be happy to share my experience!
Project Updates
All of our development projects are making good progress so far with 2 more projects to be complete and another 4 starting construction before the end of year.
EDMONTON
The Urban Retreat project is now complete with the final grading inspection scheduled this week. We have already started the leasing process and plan to finish up over the next month. The eight units sit on an oversized lot so we maximized the building footprint and made the units bigger. The appraisal on this building came in at $800K more than cost so we are extremely pleased! Here are some staged photos!
The Grovenor Riverwalk project recently started construction. This 7-unit project has taken the longest to get through the regulatory process so it’s been a relief and a big win for us to be able to proceed. The footings and foundation has been poured and we are currently just waiting for the concrete to cure while the crew works on the weeping tile.
Forms being constructed
Foundation poured and wrapped
Our West Side Living project is about to head into the finishing stages of the build. In the last couple of months, we had the rough-ins approved so we were able to close up the walls. Most of the units are finished the taping and mudding.
We are waiting for the approval of the 9-unit development that Trucapital and Innate Edge are collaborating on together. We are really excited about this project and the value we’ll be able to create for our investors!
CALGARY
Our Calgary 8-unit project recently received approval of the development plans. We are currently working on preparing the building permit set and lining up the materials and crew to start on this project in the fall!
We recently acquired a lot to build a 10-12 unit complex in SW Calgary and are excited to be starting on the planning and regulatory work on this project that will start construction in 2024. This development will meet the new by-law changes passed earlier this year and we are excited about the new model we have been working on that we’ll be applying to future acquisition in Calgary later this fall.
We are mid-way through the 4 plex conversion project. If you followed our similar project last year, this one will be very similar. We were able to create over $200K in equity from the project and will continue to to offer this option to our investors that may want to be part of a smaller project where we can create some forced appreciation and good returns.
I am incredibly grateful for the team I work with on all of these projects. It’s taken time to curate the team, from the construction team to property management to finance and legal team, who are not only good at what they do, but who are also truly quality people that make these TruCapital projects possible!
Investment Opportunities
If you are curious about any of these projects, feel free to reach out and we can set up a call. We have some current opportunities available or we can collaborate on a future project together.
We also have private lending opportunities for those interested in participating in our projects for a set interest rates.
It’s important that we understand your investment goals and only match investments or projects that make sense. As always, we are dedicated to our investors to be their real estate partners that they can trust to execute from beginning to end.
I am offering up 3 coaching spots for this fall for those interested in working with me one on one. These are custom to my student’s needs but generally fall under two streams:
Multi-family townhouse development project
Scaling your real estate business
For those looking for project specific consultations, I do offer a package to help my students on their projects. With my coaching, I help my students gain clarity, providing actionable steps and shortening the path that can otherwise seem foggy and daunting. It has been an incredibly rewarding to be able to participate in my student’s successes.
The summers are a special time with the beautiful season and visiting friends and family. Wishing you all a wonderful summer, creating memories with the ones you love.
Always,
Carleen Su
Helping you to live for today and plan for tomorrow
