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
October 1st., 2014
Volume 17, Issue 5
Dear Friends and Partners,
More excitement in the city. If you haven’t taken a stroll in Edmonton’s downtown in a while, you might be surprised by all the cranes and construction. You’d probably also stumble across a couple of trendy new restaurants with lineups out the door; the city is a buzz. Edmonton's got a lot going on it’s just getting started.
Like him or not, Daryl Katz is certainly a visionary for a ‘new’ Edmonton. With his interest in buying a portion of 104 AVE last week, to putting the arena into play, he’s making an impressive upgrade to the city’s downtown-core.
Since the revitalization of the core started it has created a massive wave of growth in business, retail and housing developments. All of Edmonton benefits and you can start to see the numbers in residential housing beginning to reflect this recent growth spurt.
Edmonton’s fast-growing population is forcing real estate prices up, says the Realtors Association of Edmonton.
The month’s housing market by the numbers:
14 %: How much the total value of residential real estate sales ($5.7 billion) grew compared to the same time last year ($5.0 billion).
6.0 %: Year-over-year drop in the number of reported residential sales.
$435,430: Average price of a single-family dwelling in Edmonton census metropolitan area, up 4.3 % from same month last year. Full story here
People are attracted by jobs and stability. People stay to raise a family and make their own mark in a growing city.
Central Edmonton: Inglewood 4-Unit Cashflow (Purchase Plus Improvement Deal)
Turbo charge your portfolio. This 1950 built Raised-Bungalow-Style 4-Plex is located in the heart of Inglewood, minutes from trendy 124th and downtown. The airport revitalization project is sending ripples of improvement throughout this area. Easy access to the Yellowhead as well as many parks and schools to enjoy in this character -rich neighbourhood.
This property has front entrances to the 2 X 2BD main floor units and lower entrances for the 2X 1BD suites.
This property was built as a RF3 duplex and is noted as having lower-level suites in the tax assessment. This is a purchase plus improvement deal, meaning that we wrap the ($25K) renovations into a new mortgage.
Ensuite laundry to be added. Property has 1 x double detached garage . Excellent access to downtown, transit and St. Albert.
Comes complete with great tenants making this a totally turn-key property for you. Inglewood is a great mature area that is a desirable for tenants working in the city or attending NAIT.
HUGE upside potential due to the quality of the building, great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton's desirable growing core. Purchase price factors in renovations.
Purchase price: $664,000K
Total Investment: $152,930K
Your Estimated 5 Year Profit: $86,096.28K
Your pre-tax Total ROI is 56% or 11% per year
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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Dreams of a thriving new downtown Edmonton start to edge in reality
By Carrie Tait, Globe and Mail, September 11th., 2014
It takes a lot of imagination to picture roughly four million people hanging out in Edmonton’s downtown each year, all visiting in the name of entertainment. The dreams exist, the blueprints exist, but the buildings do not. Negotiations are in their final stages. Diggers are digging. And Daryl Katz’s real estate ambitions are at skyscraper levels.
When the billionaire talks about his plans to revitalize Edmonton, he has lists of numbers. Lots of numbers. He rattles off the amount of money that will be poured into Alberta’s energy sector – the oil sands, refineries, pipelines – in order to back up numbers off a second list. That list is the one that requires creative thinking, and a lot of new buildings. FOLLOW THIS ARTICLE
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Edmonton Real Estate mogul Bob Dhillon excited for changing city
By Dave Lazzarino, Edmonton Sun, September 19th, 2014
Bob Dhillon sits in an Edmonton restaurant, awaiting his meal, sipping a rich, Australian Shiraz and talking real estate. To him, the wine isn't the only glass that's half-full.
"Edmontonians should celebrate," said Dhillon, who knows all about celebration.
His company, Mainstreet Equity, owns 3,725 residential apartment units in Edmonton -- 2,424 of them surrounding the Edmonton Arena District -- making him the landlord to what he says calls a city benefiting from youth.
"What drives a city like Edmonton and Calgary is the in-migration, young people," he said. READ MORE HERE
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Hicks: Strength among weakness in Edmonton’s corporate sector
By Graham Hicks, Edmonton Sun, September 19th, 2014
Alberta Venture Magazine’s September edition contains its annual Top 250 list of Alberta’s biggest companies and, as usual, it makes for fascinating comparisons.
The list demonstrates, more than ever, how Edmonton in the ‘50s and ’60s allowed the corporate side of the resource industry sector that surrounds us to slip away to Calgary.
Fifty-nine of of the top 100 companies within Venture Magazine’s Top 250 companies, (as measured by gross 2013 revenues), are in the resource industries sector. Just two biggies, Weatherford Canada (61st, $1.3 billion) and North American Energy Partners (95th, $470 million) are based in Edmonton. 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.
“A true champion can adapt to anything." - Floyd Mayweather, Jr.
Warm Regards,
Todd and Danielle Millar
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P.S. Stay ahead by checking out Danielle's blog at Edmonton Real Estate Investor for all your cutting edge market news and information.
P.P.S. Don’t forget to visit our website and take advantage of the Resource Tools and product section including REIN's #1 real estate books and Quick Start homestudy sets at a discount. Get your copy of the Canadian Success Stories book and the 2010-2014 Top Ten Investment Towns of Alberta and Ontario.
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