Luxury Without Infrastructure: Can Canmore Become The Next Flagship Destination

Deadlines, data, and a ladder that shouldn’t have held: this chapter of Immigrant Hustle lays out how we’re turning a hunch about Canmore into a real $8M luxury rental with investor-ready numbers. We open the playbook on our 29-page white paper, why AI accelerated the research without replacing rigor, and the specific market signals that led us to the Rockies: soaring visitor spend, constrained supply, and a glaring five-star gap.

We walk through Serenity Point, our flagship property in the Tranquility development near Silvertip. Six bedrooms, six and a half baths, three expansive decks facing the Three Sisters, plus a gym, yoga studio, sauna, hot tub, and cold plunge. More than a house, it’s a service-first ecosystem: private chefs, massage, yoga, golf and ski logistics, all designed to compete with multiple condos and legacy hotels on value, privacy, and experience. We benchmark ADR, occupancy, and seasonality, then model revenue with conservative assumptions to show how groups actually win on total cost and amenities.

Financing in Canada isn’t friendly to short-term rentals, so we unpack the lending reality: bank reluctance, capital rules, and why we pursued flexible structures and a refinance path. We share our equity raise design for eight investors, the embedded owner-use benefit worth roughly $50k at modeled rates, and an incentive waterfall that rewards those who forgo personal time. It’s a candid look at pressure, team grit, and the systems we’re building to deliver both returns and lifetime memories.

If you’re curious about luxury real estate investing, AI-powered research, or how to create a five-star experience in a market that lacks one, this is your roadmap. Subscribe, leave a review, and tell us: would you optimize for cash distributions or for unforgettable stays?

 This episode is for informational and entertainment purposes only. It is not investment advice or a solicitation to invest. All investment opportunities involve risk. Consult your own financial, legal, and tax advisors before making any investment decisions. 

Chapters

• 1:19 December Deadline And $8M Close
• 3:42 Why A White Paper Beats Gut Feel
• 6:46 Using AI For Credible Research
• 8:43 Marketing And Investor Credibility
• 9:58 Canmore Market Fundamentals
• 12:16 The Luxury Gap We Aim To Fill
• 15:56 Discovering Serenity Point
• 19:04 Designing A Resort-Like Home
• 21:11 Timeline, Financing, And Furnishing
• 23:26 Conservative Revenue Model
• 26:31 Returns, Rates, And Owner Perks
• 30:31 Lending Hurdles And Regulations
• 35:24 Equity Raise And Investor Fit
• 41:08 Team, Pressure, And Grit
• 42:44 Practical Lessons And Pivots

Transcript

Vladlen Stark: 0:11

Welcome back to the Immigrant Hustle, an unfiltered CEO's playbook on how to build a business with AI. I am your host, Vladlen Stark. I usually I would say something like last week we talked about the $250,000 legal quote, the advisor disappearing, all the different challenges that really made me question that all of this was possible. But it has been two weeks since I recorded the last episode, and I wanted to take a moment to reflect on that and also talk about why I'm considering switching it to a bi-weekly cadence for the remainder of the 10 episode season this year. I shared an update on LinkedIn last week that I was too sick, too worn down, too busy to record the episode. It really has been a pretty crazy and inhumane sprint for the last five months, and this was almost inevitable. I had to take a few days to recover, recharge, and really make sure that I can come back and come back strong. So reflecting on the season and also on what's ahead, if we look forward to December 15th, we need to close a deal on an $8 million property in Canmore, find eight investors willing to put up north of a half a million dollars each. We need to have the financing locked in, all the paperwork done, all while building an entire new market in Canmore that doesn't exist today, which is that next level luxury offering with a white glove service. And on top of that, my family and I are heading down to Costa Rica next week for some much needed R&R. And I say that while I have a few days already fully booked up with meetings with my partners and some other projects that we're looking at. So um rest for the wicked, I guess. But that actually works out in my favor given this new cadence because the next episode of the podcast is all about Costa Rica, the very spot where all of this started, and it will give me an opportunity to actually record the next episode while I'm down there on the ground and talk about it with the sun shining in my back and some ambient noise from the ocean. So I'm really looking forward to that. And the other piece of this is that given our December 15th close, I think this will allow me to have that final episode about lessons learned, episode 10, to be right after everything is said and done. And I think it will put me in a much better position to have that moment of reflection and all the learnings that have come through it, rather than trying to do it before we're even done. But let's focus at the episode at hand. And I want to talk about several different things about Canmore, the opportunity, the house itself, and what we're doing now, what we're doing in the next few weeks, and how we're planning to achieve this goal that seems completely out to lunch in a regular conversation. Those of you who've raised capital in the past, maybe outside of Silicon Valley, I think would relate to the notion that investors don't generally invest in the ideas or on God feel. They like to invest into tangible numbers, into strong research, and well-thought-out business plans. When I started looking at Canmore a handful of weeks ago, I had a gut feeling, but the gut feeling is not enough to raise $4 million from investors. So over one weekend, I sat down, really hunkered down, and I was able to put together a 29-page white paper on Canmore and the Canadian Rockies or Bull Valley market. It's called Luxara White Papers, Canmore 2025, and it covers everything from tourism trends to local zoning changes to the trends in the real estate market, the occupancy, and really a holistic view of everything that an investor would need to consider when entering a new market. We also produce series of exhibits with a lot of information, again, like occupancy rates, nightly rates, the appreciation of various properties in the region, and so on and so forth. Of course, everything started with research. I used Chat GPT and Gemini to do my preliminary research, and it came through series of very specific queries about very specific statistics and angles of the research that I was doing. And every single one of those numbers and every single one of the points that we're making was then cross-referenced back to the source that it came from. If you read our white paper, you'll notice that at the very end of it, it's actually cited academically with 17 different sources. I think that part is critical for something like the white paper. We're certainly going to repeat that process for anything we do in the future because we can't just produce AI slop. We have to produce something that's credible, something that's well researched. And in this case, I actually went through myself and I cross-referenced every single cited source to the original material to make sure that it was not hallucinated statistics. And that's something that I could actually confidently put out there and put in front of the investors. The second piece was the compilation. So it was taking a lot of this raw data and then actually compiling it, compiling it into a nicely flowing paper. And that part, of course, was again done using AI, predominantly Gemini, because I've mentioned before I prefer the style of Gemini writing versus some other models. Every single section was done over a series of iterations because I wanted to make sure that it sounds natural, that it sounds professional. So really that section wasn't done by AI, it was done with AI. And finally, the third part was sort of the visuals and the presentation layer. I've used gamma, Higgs field, and Canva to do that part of it. So gamma was used to shape sort of the high-level structure of it over a series of pages with consistent formatting, with consistent visuals. Higgs field was used for the visual attributes and some of the image generation for a handful of different images that we put into the report. And then finally, Canva was actually used to prepare some one pagers and also to prepare some of the marketing materials that were a result of the white paper itself, but also to prepare the title page for the white paper and make it look like a like a magazine, which is kind of neat to do, to be quite honest. And you would say, well, why did you bother creating this white paper? What was the real thought there? And really, there's a couple of angles there. One, it's certainly a marketing tool that we haven't fully leveraged, but we certainly intend to on various different media channels as well as our website to attract different readers and collect emails for future marketing. But also, it was a tool for credibility. The very first investor that I shared this with came back with I've read your entire white paper, it's really impressive. How long did it take you to do that? That on its own was enough proof that all of the time that I invested into this and all the technology that helped me put this together was actually for something meaningful. Seeing this white paper published in record time gave that investor confidence that we were serious and we could execute on the vision that we have in front of us. So, what did the white paper actually reveal in terms of research? It opens with Bow Valley is a multi-billion dollar economic engine of the Rockies. Visitor spending in Alberta hit $14.4 billion in 2024, which is a 12.5% increase over a year preceding. That number was supported by 38 million visitors to the Rockies. Banff National Park welcomed more than 4.25 million visitors in 2023 and 2024, where that trend continues its strength, positioning Banff as the most visited national park in Canada, and also positioning Canmore as the key accommodation hub for all the tourists who are looking to experience Banff, Lake Louise, and surrounding areas with a very constrained accommodation market. So, what does that mean for our project, codenamed Serenity Point? If you look at the market fundamentals for Canmore, the average price for a property in Canmore is 1.27 million. That number jumps up to a median number of 1.55 million for a detached home. And over the period since 2019 to 2025, the appreciation of real estate in Canmore on average was 76%. Why do I say on average? The median price has increased about 56% over that timeframe. But the average was moved further because of a very strong trend in these luxury properties that were over $2 million. Serenity Point being valued between $7.5 and $8 million is certainly fitting that market segment. And I think it has a lot of future potential to continue on the appreciation rates that we've seen between 2019 and 2025. And you have to remember that during that time frame, the interest rates tripled. So there was a very strong fundamental demand. And that demand is constrained by the natural surroundings of Canmore and the restrictions that exist on the development of that town and anything that surrounds it. The occupancy numbers in Canmore are also exceptionally strong. On average, properties are seeing occupancy rates of upwards of 77% annualized. There is a fair bit of seasonality that I honestly didn't anticipate myself when I was doing this research. But again, if you look at the 77% annualized type occupancy rate, that is exceptionally strong, and especially compared to some of the destination markets like Costa Rica, where we have a lot of experience in, and we certainly are not seeing those types of numbers. So really every three out of the four nights in Canmore are booked up. You do have some seasonality, as I mentioned, around particular winter months, right after Christmas and some other low troughs. But summer, there's virtually 100% occupancy everywhere in town. If you look at the visitor spending growth, I mentioned earlier, $14.4 billion spent by tourists in 2024. And that was a 12.5% increase over the year before that. Double-digit growth in spending, coupled with the constrained development of a lot of these towns in the Banff National Park and in the Rockies in general, that signals of sustained long-term demand that somebody needs to fill. And there's just not enough development happening to meet that demand. The infrastructure-wise, again, that's another very exciting thing. There's been talks of a rail project connecting Calgary International Airport with Banff that would have a stopover in Calgary downtown, Cochrane, Canmore, and then heading all the way to Banff. That would be a $1.5 billion project that would certainly only increase the number of visitors coming to the Rockies and coming to Canmore and Banff specifically. You've got other things like the Alberta Higher Ground Tourism Strategy that's an initiative driven by the province where they want to see Alberta tourism grow at these sort of double-digit rates from now until 2030. On top of all that, there's been a series of conversations in Canmore for development of an alpine village and a gondola that would connect the downtown of Canmore with the Silver Tip Golf Course and then another station on the mountain behind it. I don't know the latest and greatest on that development. But there's been a series of these projects that have been in discussion, series of them have been approved. Also, you have to look at the trends in the wellness spending and wellness development. So things like spas, specifically Nordic spas that are being developed in the region. So to sum it all up, our investment thesis is that Canmore has this world-class natural asset around it. And what it lacks is the infrastructure and that luxury offering to the travelers coming from all over the world. And that's certainly the gap that we're planning to fill. Now, I say that, and I do want to reflect for a moment. The luxury services do exist in the Rockies and in Canmore in particular. We've looked at a series of different offerings. So, for example, things like private chefs or private yoga lessons or in-house massage and various other things, like also concierge, limo service, and all that. However, it seems that a lot of these services are very fragmented and they're not really integrated into that traveler journey, you know, the ecosystem that I believe we could service from the very start to the very end. Now, if we look at something like Aspen, for example, in Colorado, where you have Little Nell that is a Forbes five-star, you have a Michelin-starred Bosque, you have Element 47 with 20,000 bottle wine reserve. Colorado spent, I think, $100,000 just to get the Michelin coverage for that area. If you look at something like Whistler, Whistler is home to four seasons, that is a number one ranked resort in all of Canada. Then you look at Vale, that has four seasons, a Ritz Carlton, the Arabelle, all year-round in and out alpine villages. They all have these fully integrated luxury ecosystem, iconic VIP flagship properties, and year-round programming that Canmore currently lacks. And that's where we believe is the big opportunity here. So, how exactly are we going to deliver on this opportunity? Well, that starts with our flagship property, Serenity Point. I first visited Canmore with my family and Sean, and we walked through the tranquility development just south of Silvertip Golf Course, and we looked at a few things. There were a handful of homes that were in the midst of construction. There's nothing really that's built there fully yet, but there were a few places that were pretty far along in their development. So we looked at those. We looked at some virtual tours for other properties, the renderings all around. And the one property that we sort of skipped over was what is now known as Serenity Point, the 440 Tranquility Place. And at the time of our visit, it was only foundation. There were no walls or anything on the property, so it was a little bit hard to picture. So when I got the renderings, my first thought was this kind of sucks. It looks pretty plain. It's got the garage out front, the back looks pretty flat. How could you face this beautiful view of the Three Sisters mountains? You're facing the wildlife corridor in the back, and you have no deck space. But as I say all of that, his first response, of course, is listen, you have to come back and you have to take a real look at what's going on and say, okay, fine. So we schedule a trip for the following week. I come back, and now we're looking at the property that now has some walls up. And it was still dug up all around the foundation, so you couldn't really get to the middle level of it. The only way to get up there was this rickety metal ladder that was attached to the house by two nails and a piece of rope. So we climb up there, and I'm thinking, you have got to be kidding me. Full disclosure, I'm afraid of heights. Climbing 14 feet up the ladder certainly was not the highlight of my day, but that's where all the difference was. Once I was up there, I had no more doubts about the property. The rendering that appeared to be flat on the back really didn't do any justice to the house because it has three covered decks on the back side of it, all facing this stunning view of the three sisters backing onto the wildlife corridor. Each one of the decks is absolutely massive, and each one of them would have a unique feature, like a fireplace, one of the decks will have the hot tub and the cold plunge, and all of that was really impossible to picture just from that single rendering. So certainly very happy that I made the visit, and that's when I fell in love with the place. So the house itself will have six bedrooms, six and a half baths, have a ton of entertainment space, it will have a fully equipped gym, we'll have a yoga studio in the house, we'll have a sauna in the house, we'll also have a hot tub, a cold plunge on the back deck, and we have this forever preserved view of the wildlife corridor behind us and the three sisters in the distance, which is absolutely stunning every second of the day. In some ways, this place will be its own little luxury resort because once we provide the infrastructure, like the chef, the masseuse, the in-home yoga lessons, and so on and so forth, you could just spend your entire vacation in that house without ever stepping a foot outside. Now, I don't encourage you to do that, but I'm just saying that you could. And that's exactly the sort of experience that we're looking for. Bringing everything you could possibly need on your trip, all into that one neatly packaged offering. You want to play some golf? Excellent. You can walk from the house onto the golf course. We have some tea times for you ready. You want to go skiing, we'll arrange for a transport for you to go to one of the ski hills. You want to try heli skiing? Done. You want to have that private chef experience for you and your family? Excellent. You're getting married at the Silver Tip Golf Course, speaking of which, a hundred and twenty weddings per season, which is insane. We could house the entire wedding party all in that one spot, and it's super easy to get into town, it's super easy to get right back to the golf course where you just had your wedding, and it just so close to everything you could possibly need if you even need to leave the house. So, where are we in the timeline? Well, we signed the deal to purchase the property on October 13th on Thanksgiving, and now we have until December 15th to complete our due diligence. Just this past week, we completed our appraisal, which confirmed the offer price that we put on the offer, which was excellent. We're working on the loan. We have a few new entrants into that race, and we're looking to raise the $4.2 million in equity among eight investors. And that would include the equity component of purchasing the home and also a $250,000 furniture fund, because as you can imagine, this is a brand new build, so we will need to put some furniture in it. And as much as I struggle every time I say out loud that we're spending $250,000 on furniture, when you're furnishing an $8 million house, that's actually becomes a pretty reasonable price tag for furniture. And I think the expectations of anyone visiting a place like this certainly would be a little bit higher than what you can pick up at Walmart or at IKEA. Even though most of this room is straight from IKEA, baby. Now, the beautiful thing about Serenity Point is that it's being constructed by Kidner, and the developer is actually financing the construction, which is a pretty unique deal for those of you who have dealt with development properties before. So we're taking zero exposure on the construction. We're going to be purchasing a completed property once it's fully done. Our planned possession is June 1st, which would be prime time for us to enter into the high season and really capitalize on this brand new property and this brand new service offering that we're bringing into the market. Speaking of which, to help us deliver that service, we've partnered with Vacations in Canmore, a company that Sean and Donna run. And they have 15 properties under management right now. We've been talking to them quite a bit about developing that next layer of the luxury service offering and leveraging some of the existing fragmented services that I talked about earlier. As far as the revenue model goes, in our marketing materials, we intentionally have taken a very conservative outlook on this. Our base case occupancy rate is 68%, which is almost 10% lower than the market average. Our market rates, I believe, are also going to be low. Our average ADR or average nightly rate across the year is just under $5,000. And again, it might sound crazy for a moment, but if you consider that a two-bedroom condo in Canmore during peak season can go anywhere from $1,000 upwards of $1,500 per night. If you look at the Fairmont Banff Springs in Banff, upwards of $2,000 for an old rundown hotel. And even though it might be a little bit higher than the hotels in Canmore, one has to remember that Canmore has 10 four-star properties, but it has none five-star. So there's really a big gap there. And anyone who's looking for that luxury experience would automatically start considering a lot of these higher-end condos and a property like Serenity Point. And when you're traveling with 14 or 16 people, as some big families do, wedding parties do, golf trips, and so on and so forth, a property like this becomes attractive because your comparison is, you know, two or three or four of these one-bedroom condos, and they don't have any of the amenities that we would provide for the same price. So it actually becomes quite reasonable when you look at it and start comparing it to the other offerings in the marketplace. So if we use these deflated occupancy numbers, deflated nightly rate numbers, we're projecting some pretty strong revenues for this one property. And I believe that in our first full year of operations, we would hit north of a million dollars in gross bookings. My actual number is just north of 1.2 million in gross bookings. After we pay our management fees, which are about 15%, that gets us to about 1 million net before expenses. Expenses, of course, on a property like this are no small feat. We're pricing that to be somewhere between 250 and 350,000. So if we look right in the middle, around $300,000 of annual expenses. And that includes everything from property maintenance to property taxes, which are higher for short-term rentals than residential properties, other things like utilities, cleaning, and on it goes. But that's still reasonable and leaves us with somewhere between $650 and $700,000 of net profit before servicing any of the debt. And that's where the real magic starts happening. Everything we've priced in right now, we've priced in at a pretty expensive 9.5% debt on $4 million. And we priced in a decrease in that debt to 7% in year three, when we believe we'll be able to go to the traditional lenders like a credit union or a bank and get our rate down quite a bit. Now, all of that said, even with these numbers, we're looking at per share profit of somewhere between $40,000 and $55,000. So that's your 8 to 11% cash on cash return on your investment. And that's being conservative. Now, we certainly could experience some hurdles and have some misses along the way. But I believe that these conservative numbers are pretty strong foundation for this. And we'll just have to adjust our expectations as we operate it. But for now, I believe they're a very good number that I can confidently put in front of people. Now, if we're successful in negotiating the deal that we have in front of us right now, we might be able to get that interest rate down to 6% or lower. And that is when you really can start producing some really attractive returns. But again, I want to be conservative very intentionally. I'm always a fan of underpromise and over-deliver. We're not marketing anything lower at this stage, and we want to be transparent and honest with our investors. There's certainly a lot of upside, and I hope we can deliver on that upside. But I also want to be pragmatic and I want to make sure that I deliver on what I promise and then hopefully exceed those promises every single year that we operate this property and of course the others in our portfolio. Now, on top of all that, you have to remember that our model is unique. And with our model, each one of the LP unit owners gets some personal time. And if you're looking at the 10 nights that you could get in the low season as an owner, and the average rate of $4,900 or just under $5,000 a night, that's $50,000 of personal use time that's built into the model. And that still allows us for that same type of distribution that I just talked about, because that's assuming a 68% occupancy. As our occupancy goes up, that certainly creates a little bit of an opportunity cost for the owners to enjoy their property versus receiving a higher dividend as we start approaching 100% occupancy. But if we stay at that sort of 65, 75%, or even 80% occupancy, we still have plenty of time for our owners to enjoy the property and enjoy their piece of paradise that they're buying with their investment. So that's that extra $50,000 a year of value that you get as an owner. And that's before we even start talking about the equity appreciation of the property itself. Again, I mentioned earlier that between 2019 and 2025, the average appreciation was 76%. It was even higher for these luxury properties. So if you start applying numbers like that, you very quickly start. Getting into some really, really attractive numbers when it comes to your return on equity and return on investment that are very high double-digit numbers. If I reflect on a simple investment of $525,000 over five years, we're doubling the value that you're getting with that investment inside the five years, using these conservative numbers as a mix of your personal time, the cash on cash return, and the equity appreciation over that time period. There's not a ton of opportunities out there that could conservatively promise you in a return like that. And we're certainly not focusing on that as a sole metric for our success. Because again, as I've talked on this podcast and in every meeting that I take out there, that we're building a community, we're building something that allows you to diversify, we're building a gateway for you to enjoy beautiful places and beautiful properties all over the world and spend time with your loved ones and create memories beyond just a simple return. So we have received a lot of interest for purely return-seeking investors, and that's great. That certainly makes it easier for us to accommodate those few owners who are looking to stay at these various properties. And we've actually created an incentive program to really reward those owners who are purely return-seeking versus those who are experience seeking. So we've created this waterfall structure where the 90% of our net income is distributed equally amongst all owners of any given property. And then the remaining 10% is the incentive pool that is distributed to the owners who haven't used any of their time during the year or any of their points during the year to really reward them for, let's call it sacrifice for a second of not enjoying the peace of paradise and foregoing their time in exchange for the extra return. So I've mentioned the financing and the cost of capital and or cost of financing, and that certainly has been a real roller coaster for us. I've talked a little bit about it in my previous episode, and I'll just reflect again on it here in that it has been a lot more challenging than I thought. Certainly, all the big banks said no very quickly because they really don't like short-term rental properties. The mid-tier banks and the credit unions followed suit. They weren't particularly interested in the short-term, unpredictable type properties. And I think that's really a reflection of some of the changes in the lending regulations in Canada. I believe that has to do with some rules that OSFI passed in 2024 that the banks have to hold more capital in reserve for properties where more than 50% of income is coming from short-term rentals. So that's these really tourist type properties that we intend to operate. And even though in our case, we're only doing a 50% loan to value or 50% debt, 50% equity, which is pretty good debt-to-equity mix, traditionally speaking. In the past, if you look at a lot of the investment properties and certainly the properties that I've invested in the past, usually it's 80% debt and 20% equity. And that's just to get around the CMHC insurance, and that kicks in at anything below 20%. To my knowledge, CMHC no longer insures a lot of these vacation or secondary home purchases, period. So you're forced into that 80-20 ratio to begin with. And we're certainly trying to go more conservative and do 50-50, which de-risks us in a major way, because unfortunately, unlike in the United States, where you can get a 30-year term mortgage in Canada, these deals are a lot more volatile as a lot of the mortgages are coming for up for renewal now and have been coming up for renewal over the past few years on much, much higher numbers than people locked in pre-COVID. I'm certainly dreading my renewal because I'm still riding my 2.7% interest rate on my mortgage that's expiring in a few years from now. So I like to do risk in this scenario and give us a little bit more flexibility down the road if the rates do run away from us again. Because we've run up against a lot of these challenges with the traditional lenders. We were forced to look for some private lenders. Private lenders are certainly a lot more flexible than the banks, but depending on the lender you're talking about, they might be interested in very different things. I talked about asset lending versus cash flow lending in my last episode, and I think that's one of the big hurdles here. Certainly we've seen some pretty high rates from private lenders that we've talked to. So that's why I'm really excited about the deal that we've got right now with one of the credit unions. And I hope that we close that deal and we make this first property a success right from day one. Now, the one exciting thing that was a little bit too good to be true, of course, and it turned out to be too good to be true, was the first conversation we had with a developer was early on, the very first day when Sean and I walked through that house and climbed that crazy ladder, and they offered us a 9.5% vendor takeback mortgage, which in just in other terms means a mortgage provided by the vendor that you're buying the property from. Now, I was immediately super excited about this, but as it turned out, that mortgage was to be amortized over a two-year time frame, which of course is impossible. No amount of cash flow for any property out there could support something like that. So very quickly that deal fell apart and we were stranded to look for other alternatives, which we do have now in place as backup plans. I'm feeling pretty confident that we'll be able to deliver on our backup options if this credit union deal doesn't go through. But I'm certainly working very hard on getting that done right now. Now, the final piece of the puzzle, of course, is the equity raise were a little bit limited in a way because we're only raising equity from eight owners for a total of 4.2 million, as I mentioned. And that elevates that entry point to a pretty high number. But you also have to consider that you're looking at an $8 million property. And if we didn't have any debt in place, automatically that number would go up to north of a million, which would restrict us even further. Debt certainly is a big part of the winning formula for this deal in particular. But you also have to think that owning a piece of eight million dollar property for $500,000 is not an opportunity that you get presented every day. And I'd like to think that it's something unique to Luxara. It's a unique offering to our investors, and I'm very excited to be putting that offering in front of our investors in a lot of these conversations. The conversations are definitely not easy. There's a lot going on in the world right now, all the geopolitical tensions, all the issues with the economy. You know, we're trying to raise money in a pretty tricky market. And we've heard all kinds of different reasons for why people don't want to invest anywhere from it's not the right time. I'm not sold on a short-term rental, I don't like the risk profile. But we do have a really strong pipeline right now of investor interests. And even though we only have 50 odd days between now and the end of our due diligence term on December 15th, I am feeling pretty good that we'll be able to find, if not all, at least most of our investors before then. And really, in every single conversation that I'm having, I'm going back to the same few values that I've talked about on this show in the past. This isn't typical real estate. This is a new way to own luxury real estate, and it provides access to properties that otherwise would be out of reach for most people. It's also a lifestyle access because every one of our investors is allowed to use their property for their personal use time, five to ten days a year, depending on the season, which again is something different from your traditional investment vehicles. There's very strong income generation potential for this property in particular, where I couldn't make the same promise for our investors in Costa Rica, where there's just too much of a seasonality to promise an annualized return that is double digits in the same way that I can reasonably promise that here in Canmore. So that's another huge win for this property is that income potential and that real cash on cash return that's comparable to a lot of the other opportunities in the market. And of course, the concept of the community that I keep talking on and on about. You're joining a community of owners who are like-minded, who see the same opportunities, who speak the same language, who understand what's in front of them, and you become part of this community, and you get access to all of these people around you and all the opportunities that we plan on putting in front of our investors and giving them that access to a global set of properties. And finally, in this Canmore opportunity, you're getting in at the ground floor. There is no other property like this in the market. There are a few properties we looked at that are somewhat close, maybe, but I certainly believe that the day we open our doors, this will be the nicest, the most exceptional, the most luxurious, the most service first property in Canmore, and we're creating a market of our own. Now there are people out there who get it immediately. We've talked to investors who hear word can more, hear word tranquility, hear word silver tip, and they're immediately sold and they want to see more and they want to consider their options. There's some people who need convincing, there's some people who need to read our white paper, who need to do their own research. And that's just the reality of fundraising. All of this takes time and all of this takes effort. Now, what's the most exciting for me is just watching the team come together and really rally around this final five-week sprint in front of us. Our advisory team is now up to seven people. We've got two people signed on as finders. There's three more that I'm in conversations with to also be finders for these investments. The pressure's certainly on. There's no question about it. But the pressure is what really shapes you as an individual, and the pressure is what really shapes you as a company. I think we're ready. I think we have all the right people at the table to win this battle, to get this deal done, to make a splash in this market and cement our legacy as a new player, that scrappy little company that proved everyone wrong. So as a final reflection, I just wanted to make a couple of points. First, you don't need a 50-person team to do world-class work. You can do a lot of stuff with a handful of people who are dedicated, who have the access to the right tools, who have the right vision in front of them, and who have the right discipline and work ethic to get it done. You also don't need unlimited capital to compete. We certainly don't have the money to do some of the things that our competition is doing in the States and elsewhere. We don't have a massive marketing budget. What we do have is we have a lot of grit and we have a lot of creativity to approach our problems from a different angle and to find solutions where they don't exist. And finally, you don't need perfect conditions to start. You just need to do something and figure it out as you go. We have pivoted plenty of times in the last several months, as major of a pivot as the Canmore transition was, to a lot of day-to-day small things and the lending and the documents and so on and so forth. You have to iterate, there's no real shortcuts. You just have to put in the work and figure it out as you go. Next episode, I'll be taking you to Costa Rica, to the place where all of this started on the beautiful pool house deck of Villa Vista Bahia in Playas del Coco in Guanacaste, Costa Rica. And that place will forever be very special to me and to my family. It's going to be forever special to Luxara and everyone who's working on this right now. And I'm very excited to record my next episode right there where it all began to talk about the Costa Rican property, to talk about our opportunities, how we approach our property search, how we approach new opportunities, how we approach research, how we approach local partnerships, and so on and so forth. And really about our framework for finding the next Canmore, for finding the next Guanacaste, where luxury meets opportunity. Now, as always, let's keep building this community together. When you have your opportunity to lend somebody a helping hand, be that person and pay it forward always. Thank you for listening. I'm very excited about my trip next week. Very excited to show you the Costa Rica and the beautiful Vista Bahia. I'm excited to take a few days off finally, and I hope I actually get to do that. And I'll be seeing you in a couple of weeks.