Glenn Simon Inc., Suite 1217, 5328 Calgary Trail NW, Edmonton, Alberta, Canada. Tel 1-888-780-5940 Fax 1-888-276-4517
www.glennsimoninc.com email: info@glennsimoninc.com
November 1st., 2012
Volume 13, Issue 5
Dear Friends and Partners,
Do you get a little nervous when you're about to make a big 'change'? Some things I jump right into and others make me feel apprehensive. It was a big step for us to leave our successful business overseas and return to Canada. It was a lot of hard work to set up our property management arm but it is also a big success.
We recently went through a transition with one of our team members. He ran one of our repair crews and the job him and his team did was a valuable part of our business. We came to a point where we are growing and improving but his team was slipping into contentment. In order for us to move forward, operate our business better and serve our clients more attentively - we needed to let him go.
We had a bit of trepidation about this (aside from the personal relationship we have with him; as we tried to increase skills and motivation to keep him on board) as it is a real challenge to find and retain, reliable, skilled staff in a booming Edmonton. But - we did it. We let go of the fear, set specific targets and attracted (with much screening) the person and team we needed.
I think approaching this transition from an empowered and excited belief we created and improved the crew we needed. Makes you wonder - what things do you put up with because they are to hard or daunting to change? Imagine the liberation you will feel being freed from your situation.
Just do it!
Reno Special - South Central Edmonton: 4-Suite Cashflow Property in Avonmore
Here's a renovation special that offers value and will turbo charge your portfolio. We've added all costs to renovate and calculated post-reno projections - currently renovations have not been started. Soon to be: Upgraded 1965 built suited side by side bungalow with separate entrance to lower suites. Upgraded upper suites are a 1 X 2bd and 1 X 3bd fully self contained, bright units. Renovations at time of purchase include flooring, paint and appliances. The lower units each have a 1 bedroom 900 sqft suite. Features down include new bathrooms, tiles, counters and flooring. Features include en-suite laundry. The yard is a divided and fenced. There is a double detached garage with automatic door and opener, bringing additional revenue. Additional upgrades after purchase will include new windows and exterior/upper suite modernization. 10 minutes to U.O.A., 5 Mins to Whyte Ave, Bonnie Doon and Downtown. Fast access to the Yellowhead and Whitemud via Wayne Gretzky Drive, on bus routes. These pictures are pre-renovation.
Comes complete with great tenants making this a totally turn-key property for you. Convenient South central area with easy access to transit and downtown. Avonmore is an established and desirable neighbourhood featuring highly rentable area; solid value and stable rents. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this home in relation to Edmonton's trendy South side.
Produces $397.22 positive cash flow per month using an investor's mortgage plan - taking advantage of current low rates.
Purchase price: $575K Total Investment: $132,120K. Your Estimated 5 Year Profit $72,069.88K. Your pre-tax Total ROI is 55% or 11% per year + $397.22 Cash Flow
These 4 suites rent for top dollar and have everything arranged, including financing structure and incredible tenants. Your investment includes: impeccable tenant selection, financial analysis, professional inspection, insurance, financing set-up, legal fees, basic accounting, reserve fund, CMA, bi-annual statements, strategic market planning to ensure successful entry and exit, plus much more!
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Alberta's Oil Riches Driving Canada's Economy: BMO
By Lauren Krugel, Canada Press, October 9th 2012
CALGARY — Canada’s economic growth is being driven by resource-rich Western provinces, according to a Bank of Montreal report released Tuesday.
Alberta leads the pack, with the bank predicting 3.5% real GDP growth this year, falling back a bit to 2.9% in 2013.
“The energy sector remains the key driver of economic activity in the province, with crude bitumen production up 16% year-over-year through the first half of the year, and the Energy Resources Conservation Board expecting oil sands output to more than double by 2021,” said economist Robert Kavcic.
The energy sector’s strength has attracted workers from elsewhere in Canada to Alberta, which has the country’s lowest unemployment rate at 4.4%. GRAB THIS STORY
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U.S. Market For Oil Strong and Enduring: U.S. Consul General
By Sheila Pratt, Edmonton Journal, October 10th 2012
EDMONTON - Despite a drop in demand for oil in the United States, Alberta producers will always have a strong market south of the border, says Peter Kujawinski, the new U.S. Consul General in his first visit to Edmonton.
Though he’s been in Alberta less than a month, Kujawinski has already visited the oilsands and his Calgary office is welcoming the first American tradesman to Fort McMurray under the new labour mobility agreement — all which signal of the importance of the oilsands in the Canada — U.S. energy relationship, he told the Journal in an interview.
While U.S. demand for oil has “flatlined’ in recent years, that should not affect Alberta’s export prospects, said Kujawinski, adding that the economic downturn of 2008 was one reason behind the flat demand. FOLLOW THIS ARTICLE
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Lamphier: Ontario Wants Bigger Slice of Oilsands Pie
Alberta Steel Manufacturers Also Fighting for Their Share
By Gary Lamphier, Edmonton Journal, October 11th 2012
EDMONTON - Despite the tepid global economy, oilsands activity continues to ramp up, generating jobs and wealth across Alberta and beyond.
The importance of the oilsands as a key driver of national economic growth seems to be lost on B.C. Premier Christy Clark, who has attacked Enbridge’s Northern Gateway project to score political points at home, in a bid to win re-election.
But the government of Ontario Premier Dalton McGuinty — a once-vocal oilsands critic who is facing huge political pressures of his own — is singing a far less parochial, more magnanimous tune these days.
Just a few months ago, McGuinty (along with federal NDP leader Thomas Mulcair) griped publicly about the negative impact Canada’s high-flying “petro-dollar” was having on Ontario’s export-driven, manufacturing-based economy. READ MORE HERE
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I appreciate all your calls and emails. I'm looking forward to helping you with your next step towards building real wealth.
Your success continues EVERYDAY, let me help you build for tomorrow.
"Man cannot discover new oceans unless he has the courage to lose sight of the shore." -Andre Gide
Warm Regards,
Todd and Danielle Millar
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