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How much does it cost to use Conduit Asset Management?Conduit does not have have a one plan fits all, because we know first hand that each client has different budgets, requirements and unique needs. We cater to all, this is why we work with potential clients to build a pricing model that fits YOU. Pricing is impacted mainly by building location, current state and scope of work. We tailor our proposals to each specific building in question.
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Why should I have an Asset Manager?Time is money in real estate. Lost time is lost profits. Investors often find themselves fumbling through multiple projects without enough dedicated time or knowledge for value-add opportunities, making decisions based on paths of least resistance and the pressure of trying to balance various projects/business interests simultaneously. This can be a challenge for even the most seasoned Investor! Conduit brings investors value by getting projects done as efficiently as possible. We deliver value through our extensive knowledge, experience, and network.
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What services are included?Project management, appraisals, financing, legal, permitting, grants, corporation setup, financial bookkeeping, contractor coordination, construction coordination, weekly reporting, property management, QS survey, and refinancing.
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Does Conduit Asset management work outside of Ontario?At this point in time Conduit is focused on the Multi Family, Mixed use and Commercial real estate projects only in Ontario.
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Is there any project too big or small for Conduit Asset Management?We have never turned down a project too big! We do however focus on properties with a minimum of 5 units.
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I know a contractor, can they be used for the project?Absolutely. Conduit will work with referrals, although we will still be obtaining multiple quotes. We do this with the clients best interests in mind.
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How involved do I have to be in this project?You can be as hands on, or off as you wish. We keep clients informed and involved in important steps like strategizing and quote reviews etc. We also send out weekly updates along the way.
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Is there a guaranteed timeline provided by Conduit for my project completion?Conduit can not guarantee timelines as there are too many outside factors that determine how the project will go, for example: Permitting.
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What is Phase 1?Phase 1: Due Diligence Environmental/Financing/Appraisal/Legal​ All projects are logged and tasked in our project management pipeline with scopes of work, action items and next steps. We have a minimum of two people review all due diligence in detail against our Checklist and raise any potential issues to the client during the conditional period. We engage the relevant third parties within our network who can work to get environmental, appraisal, insurance and financing conditions fulfilled within the timelines outlined in the Agreement of Purchase and Sale. We can maximize use of time and get ahead by preparing next steps for when you waive conditions and go firm.
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What is Phase 2?Phase 2: Strategy & Onboarding Permitting/Grants/Property Management/Engage Paralegals/Set Up Corporation We meet with the client and Key Partners (eg architect, contractors, mortgage brokers, etc) and present a game plan for highest and best use with costs, timelines, roles and responsibilities and potential challenges (Depending on the project, this often happens during the due diligence phase). When the strategy is approved, we launch into action. Regular communication is sent to each clients with an update on the progress of their property.
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What is Phase 3?Phase 3: Construction & Stabilization Permitting Complete/Construction Begins/On-going Project Management We work with architcts and engineers to get permits in hand, where needed. We go through a full RFQ tendering process with multiple contractors. We work with the Client to select the best fit for the project and our in-house Project Manager oversees the project from start to finish, keep the Contractor accountable for their timelines and budgets. The Conduit team continues to keep you, the Client informed of progress through regular updates. We will also engage with property management to get the lease up plan in place so that units hit the market at the earliest stage and the vacancy period is greatly minimized.
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What is Phase 4?Phase 4: Refinance Lender Due Diligence/QS Survey/Appraisal/Refinance/Disposition/On-going Management When your investment has been repositioned, we work to refinance the property or sell, if that is your chosen strategy. In either case, we engage the key partners to return the most on your investment. We will usually initiate this in the final stages of construction and/or lease up.
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