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Looking into real alternatives
JESSICA WALLACE
JESSICA WALLACE
jessica@kamloopsthisweek.com
jessica@kamloopsthisweek.com
STAFF REPORTER
When exploring the realm of alternatives, BCclasses is urgoneWorkSafe of the asset ing thatlocal musthomebuildbe explored is ers to take precaution real estate. when renovating and For most people, real demolishing old homes, estate makes up one of due to the “hidden killthe largest parts of their er” responsible for the net worth. It’sofcalled their most deaths workers in the province. principal residence and, Though asbestoswe as North Americans, was in the havebanned been convinced, 1970s, homes may right orolder wrong, that we still contain it and, if all need to have one and disturbed and released it should be paid off by into the air, exposure the time we retire. I will can lead to lung disease leave that debate for and cancer up to 45 futurelater. discussion. years “We’re people We canseeing invest in real pay forinpast use,”ways. said estate various Geoff occuWe canThomson, buy a rental pational officer property,hygiene a commercial for Worksafe BC. property, a recreational Thomson spoke to property or anyHome other the Canadian form of direct ownerBuilders Association ship. WeInterior can buy(CHBA) publicly Central traded securities that on March 8, during its regular meetown realmonthly estate. Real ing. estate investment trusts The organization or REIT’s are probably responsible for overseethe most well-known, ing workplace safety in but we can also buy the province has been common down shareson of resiother cracking real estate companies dential demolition and renovation worksites in recent years to reduce occupational disease
ceilings is considered high risk. “Flooring, that’s the corporations in which most common place our clients canhe own you’ll find it,” said.
STAFF REPORTER
tions, it is simple. We buy a property and we know WorkSafe BC is urg- what the relative value shares. The one we use to stay away from the ing local homebuild- is, we know what the the most right now is a large REITs as their prices ers to take precaution lives that haveCost livesup in privateofcorporation rent should be, we know Cost beenofdriven when renovating and Despite awareness, Despite awareness, invests in a diversified the markets’ pursuit of demolishing old homes,what the debt level is Thomson said asbestosThomson said asbestospool of direct ownership and what it will cost us. yield. We have around due to the “hidden killrelated deaths are due related deaths are adue in real estate, primarily From this point, it is fairly half-dozen we use that er” responsible for the to deficiencies in idento deficiencies in idenmulti-family or apartare tification, in the $50 removal million toand most deaths of workers simple to calculate the tification, removal and in the province. ment buildings, publicly gross rent, operating $750 million size. Most of disposal. He advised disposal. He advised LESThough asbestos costs and net income homebuilders toand test for these homebuilders tothe test for traded securities are yielding in CONSENHEIM was banned in the asbestos before beginasbestos before begindebt instruments. It has and, from there, a rate of seven to eight per cent Asbestos was once so commonplace Asbestos it waswas usedonce so commonplace it was used older Other homes may ning work. work. in1970s, tablecloths. uses included tablecloths. filters Other uses included cigarette(you filters per ning quarterly liquidity return.incigarette annum range. stillfake contain and, if white “hidden One CHBA member One CHBA member and snow.itThe fluffy and fake killer” snow. can The fluffycan white killer” sell“hidden out at the endcan Second, it does not disturbed and released asbestos studies said asbestos studies be seen in the Wizard of Oz film, circa be seen 1939.in the Wizard ofsaid film, circa 1939. ofOzevery quarter) at net Les Consenheim is into the air, exposure usually correlate with can cost from $3,000 to can cost from $3,000 to asset value a senior wealth advi- it can can lead to lung diseasethe stock market. This is $4,000 and (NAV). noted This it can $4,000 and noted or the debt of those position has almost no important as it is always sor with Scotia Wealth tasked visiting with visiting cancer up by to 45 andand death caused andwith death caused by addtasked up to $15,000 onto add up to $15,000 onto companies. with nice,exposure psychologically, to Management-The worksites to prevent worksites to markets prevent years later. exposure to asbestos. to asbestos. acorrelation demolition. a demolition. Conexposure asbestos exposure Private avenues, such “We’re seeing peopleasbestos The fibrous matefibrous and“It’s hasnot verycheap,” little volatil- senheim have a The stable part ofmatea Group and can “It’s not cheap,” in became part, tothe the hot due, part, the hot be reached pay for past use,” said due, rial became popular rial popular Thomson Thomson as non-listed partnerity, so it isinaadmitted. greatto addiportfolio while stock byadmitted. phone at housing Vancouver housing Geoff Thomson, occu- Vancouver during Industrial during the Industrial a home Demolishing a home ships orthe private shares, tionDemolishing to any portfolio. Its market is going through 250-372-8117, by email that hascommonly resultmarket thatcan has result- at les.consenheim@ hygiene officermarket Revolution, commonly Revolution, with asbestos with asbestos can havepational also been popular four-year average annual volatile periods. Just as ed in theas demolition the demolition of used asWorksafe insulation in used insulationofin leaded toin higher costs, lead to higher costs, overfor the years as BC. a way rate of return ending a note, we don’t look scotiamcleod.com and olderfor homes. many older homes. spoke to many homesThomson for its resistance homes its resistance he noted. he noted. for a group of investors Dec. 31, 2016 is 10.3 per to invest in residential online at consenheim.ca. “It’s suchand a big issue “It’s such a bigaissue the Canadian Home to heat and chemicals. to heat chemicals. “You end up with “You end up with a to acquire ownership cent. detached housing. article is for general down there,” Thomson down there,” Thomson Thiscontaminated Builders Association Years later, it was in Years later, itPerwas contaminated site.” site.” realCentral estate. The sonal residences carry leadinformation purposes said.other Interior (CHBA)said. deemed harmful, leaddeemed harmful, The City ofway we The City of do invest in real estate is them way too much only. The viewslandfill of the on Marchyou 8, during ingHowever to asbestosis (devel-its with ing to asbestosis (devel-Kamloops The fine material, The fine material, landfill Kamloops regular it, real estate should oping 10 tomonthly 20 years meet- up oping 10 to 20Just years to 22,400 times thinup to 22,400 times thinvia REITs. These publicly emotional value. author do not necessaraccepts hazardous accepts hazardous after exposure), lung exposure), lung materials, ner than human hair, ner pools than human hair, ily refl but materials, only be aing. part of any welltraded ofonly real eslookafter at the Vancouver ect thosebut of Scoorganization cancer (15 to 25 years) cancer (15 to 25 years) professionals is difficult to recognize, difficult to recognize, expeprofessionals expediversifiThe ed portfolio. We tateisoff er diversifi cation and Toronto markets. tiaMcLeod. Individuals fora overseeand mesothelioma (30 and mesothelioma butWe caninvest be found in old(30 rienced can found in old should withbeasbesrienced asbeslike responsible real estate for few andbut liquidity. Because in real seek with professional ing workplace safety in vinyl to 45 years). to 45 years). insulation tos can flooring, it.insulation tos prior can remove it.on simple reasons. theyvinyl areremove traded on the estateflooring, for our clients advice to acting the province has been and white The federal governTheduct federal govern- Homeowners tape. and white duct tape. should Homeowners should First, relative totomany they will be ways. wayto fullymarket,Thomson any information referred cracking down on resi- in two ment has vowed fully ment hasOne vowed Thomson advised advised not touch or move it. not touch or move it. other investment opmore volatile, but should is through private to herein. demolition bandential asbestos by 2018. and residential ban asbestos by 2018. buildings residential buildings To learn more, go To learn more, go
Off to see the wizard Off to see the wizard — with lung disease — with lung disease
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renovation In the Lowerworksites in built before In the1990 Lower may built 1990 may online tobefore worksafebc. recent years to reduce Mainland, WorkSafe BC Mainland, WorkSafe BC comcontain contain asbestos. asbestos. and search “asbesdisease Scraping has occupational dedicated teams has dedicated teams tos.”Scraping “popcorn” “popcorn”
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ceilings is considered high risk. “Flooring, that’s the still be less than the marmost common place ket you’ll as a whole. Wehe tend find it,” said.
online to worksafebc. com and search “asbestos.”
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