While BC’s real estate market has been hot for over a decade, more and more investors keep joining in the real estate development industry, looking to make a quick buck.
However, the real estate development industry can be extremely risky and as a result, careful structuring of development projects must be undertaken. It is common practice in this industry to see each development in a separate and distinct limited liability vehicle, ie. a corporation or a limited partnership.
Talk to your accountant before spending your sweat money for a parcel of land/an old timer house for use in a development project.