I love this post. It's MSN's "What 14 super successful people wish they knew at 22" It's enlightening and I think a must read for any age.
At 22 I was rudderless, living in a green shag apartment over a Chinese restaurant in Victoria, B.C. I was working towards an associate degree in applied sciences (which I used for 1 year and never liked) and working at Money Mart. I had no clue what I was doing and never dreamed I would be doing what I do now.
I would tell my 22 year old self, "You don't have to decide RIGHT now, take some time and experience the world. Think about where you are getting your advice from."
"If you are willing to dream and then work hard and execute well, you can achieve more than you ever imagined." Maynard Webb Apple Chairman's advice to his 22 year old self.
Monday, November 30, 2015
Friday, November 27, 2015
Common Sense
I found this article on Facebook through a friends account. It's basic good sense for anybody in an industry that is cyclical. I don't know how many times I've seen this bumper sticker:
"When I was five years old, my Dad took my Mother and I to Jamaica. It was my first trip anywhere, and it was paradise. My Dad wore a gold nugget Rolex, and carried literally thousands of dollars in cash in his front pocket. He bought my Mother a diamond that made every woman jealous, and we were rich. And then oil went to $10 and the nearly 5,000 rigs that were drilling in the US went to 1100. We were broke, and although my Dad didn’t sell his gold nugget Rolex, he had me put it in the floor safe of the home we lived in on Cornett. Since then, I’ve lived through my own oil boom and bust, and likely will see a few more. My skin grows thicker by the minute." Read more here
"When I was five years old, my Dad took my Mother and I to Jamaica. It was my first trip anywhere, and it was paradise. My Dad wore a gold nugget Rolex, and carried literally thousands of dollars in cash in his front pocket. He bought my Mother a diamond that made every woman jealous, and we were rich. And then oil went to $10 and the nearly 5,000 rigs that were drilling in the US went to 1100. We were broke, and although my Dad didn’t sell his gold nugget Rolex, he had me put it in the floor safe of the home we lived in on Cornett. Since then, I’ve lived through my own oil boom and bust, and likely will see a few more. My skin grows thicker by the minute." Read more here
Monday, November 23, 2015
Energy Now - Quick Facts on Alberta Climate Change Policy
Here are a few quick facts about the new climate change policy announced Sunday by the Alberta government:
Main thrust: Broad-based carbon tax of $30 a tonne by 2018; phase-out of coal-fired power by 2030; hard cap of 100 megatonnes on all oilsands emissions.
___
Effect on families: Gas, fuel, power bills to rise about $500 a year by 2018; policy promises at least partial rebates for about 60 per cent of Alberta families.
___
Effect on industry: Emissions cap will be almost entirely taken up when projects now in the pipeline are built, meaning future expansion will have to be done by reducing energy use per barrel of oil; renewable energy to be 30 per cent of Alberta mix by 2030
___
Effect on climate: No specific emissions reductions set; policies projected to reduce emissions from business as usual by about seven per cent by 2020 and about 16 per cent by 2030; Alberta's total emissions to start falling in 2020.
___
Effect on politics: Alberta emissions about one-third Canadian total, so province's plan is key to Canadian position at upcoming Paris conference; plan also expected to reduce market resistance to export of Alberta oilsands products.
You can read the original here
Main thrust: Broad-based carbon tax of $30 a tonne by 2018; phase-out of coal-fired power by 2030; hard cap of 100 megatonnes on all oilsands emissions.
___
Effect on families: Gas, fuel, power bills to rise about $500 a year by 2018; policy promises at least partial rebates for about 60 per cent of Alberta families.
___
Effect on industry: Emissions cap will be almost entirely taken up when projects now in the pipeline are built, meaning future expansion will have to be done by reducing energy use per barrel of oil; renewable energy to be 30 per cent of Alberta mix by 2030
___
Effect on climate: No specific emissions reductions set; policies projected to reduce emissions from business as usual by about seven per cent by 2020 and about 16 per cent by 2030; Alberta's total emissions to start falling in 2020.
___
Effect on politics: Alberta emissions about one-third Canadian total, so province's plan is key to Canadian position at upcoming Paris conference; plan also expected to reduce market resistance to export of Alberta oilsands products.
You can read the original here
Monday, November 16, 2015
Wealth Warriors
Alberta Oil Sands Investment Real Estate News®
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 16th., 2015
Volume 19, Issue 8
Dear Friends and Partners,
I belong to Steve Chandler’s Wealth Warrior Group. This is the last year as they’re wrapping it up to focus more on coaching as that is his real passion. Here is a timely thought from Steve Chandler:
"Well, you know, fears are something that we multiply in our mind, and we multiply them so that every fear that everyone has, in their mind they've multiplied by a factor of about 100. So the fear is so much worse than doing the actual thing would be, and then by not doing it it grows and grows and grows. And then finally, if for some reason we just have to do it, we're really exhilarated and we almost feel giddy because, my gosh, there's only one way around that. And that is to find a way to walk toward that fear and deal with it in a way that isn't frightening. Now, if people will take time, they will be able to come up with a way, a routine, a structure, to deal with any fear they have in grown up life that does not scare them. But they don't take the time because they're too afraid to even look at the issue. And that occurs over and over and over. "
“If you are distressed by anything external, the pain is not due to the thing itself, but to your estimate of it; and this you have the power to revoke at any moment.” - Marcus Aurelius
North West Edmonton: Canora 4-Unit Cashflow
Turbo
charge your portfolio. This bright and open four-unit is listed as a
side by side Duplex with condo titles (I interpret that to mean that the
lower suites are non-conforming and not legal). 1997 built, located a
few blocks from 107th it has good access to local amenities.
Walking distance to schools, transport and close to downtown. This property has separate entrances to each suite; 2 X 3 bd and 2 X 2 bd, single garages, plus pad. This property was well designed for light and spaciousness, it’s in good condition.
This is a turn-key deal. Good access to downtown and in a rent-able, working-class neighbourhood.
Comes complete with great tenants making this a totally turn-key property for you. Canora is a mature neighbourhood that is desirable for tenants working in the Westend and downtown. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton's desirable growing core.
Purchase price: $664,000
Total Investment: $153,540
Your Estimated 5 Year Profit $89,900
Your pre-tax Total ROI is 58% or 11.7% 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!
=========================
Gary Lamphier: Canadian Western Bank sees growth beyond Alberta
By Gary Lamphier, Edmonton Journal, November 6th, 2015
In a year that has been chock full of lousy economic news, this was an especially depressing week for Alberta.
Long-slumping oil prices slid anew Friday, closing at just $44.29 US a barrel, down nearly five per cent from the previous Friday.
On the employment front, Alberta shed another 11,000 jobs in October, according to Statistics Canada’s latest monthly data, even as Canada gained more than 44,000 jobs.
That pushed Alberta’s unemployment rate to 6.6 per cent, up from just 4.4 per cent a year ago, leaving tens of thousands of people out of work.
Just for good measure, U.S. President Barack Obama piled on Friday, putting the final nail in the coffin of TransCanada’s long-proposed Keystone XL oil pipeline project.
While Obama’s decision surprised no one, it inflicted another psychological wound on Alberta’s struggling oilpatch, which is bracing for tougher emissions penalties and a possible hike in royalty rates by year’s end, courtesy of Alberta’s new NDP government. GRAB THIS STORY
===============
Alberta loses nearly 11,000 jobs as unemployment rate rises to 6.6%
By Mario Toneguzzi, Calgary Herald, November 6th, 2015
Alberta’s unemployment rate crept higher as the province lost nearly 11,000 jobs in October, including 3,600 in Calgary, Statistics Canada reported Friday.
The unemployment rate rose to 6.6 per cent, from 6.5 in September.
StatsCan said the job losses provincially were full-time — 11,600 fewer positions month-over-month — while part-time employment rose by 800 jobs.
On an annual basis, employment was up by 13,400 positions, but the gains were in part-time work, which saw a gain of 35,500 positions. The number of full-time jobs in Alberta fell 22,100 from October 2014.
The unemployment rate is 2.2 points higher than it was in October 2014, due largely to a 70,000-person increase in the size of Alberta’s labour force — people who are working or looking for work. READ MORE HERE
===============
Shell says it halted oilsands pipeline over uncertainty
By Jeff Lewis, The Globe and Mail, November 6th., 2015
Royal Dutch Shell’s chief executive says uncertainty over pipelines such as Keystone XL, killed by the U.S. government on Friday, played a role in the company’s decision to scrap a major oil sands project last month – a sign that export constraints are squeezing some of the industry’s largest players.
Last month, Shell took a $2-billion (U.S.) hit after halting construction of its 80,000 barrel-per-day Carmon Creek development in northwest Alberta. It cited high costs and insufficient pipeline capacity to move the supplies to market as reasons.
On Friday, Ben van Beurden said the project’s economics were subject to a “very, very wide range of outcomes,” including the fate of major pipelines, undermining its viability as the energy giant reins in spending to cope with lower oil prices.
“It was basically a clear, straight-forward economical decision,” he said during a meeting with reporters at the company’s Scotford refining complex northwest of Edmonton. FOLLOW THIS ARTICLE
===============
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.
"Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy." - Dale Carnegie
Warm Regards,
Todd and Danielle Millar
===SPECIAL NOTICE: NO CASH, BUT GOOD CREDIT? CALL US TODAY TO LEARN HOW YOU CAN OWN INVESTMENT PROPERTY===
P.S. Stay ahead by checking out Danielle's daily blog at Edmonton Real Estate Investor for all your cutting edge market news and information.
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 16th., 2015
Volume 19, Issue 8
Dear Friends and Partners,
I belong to Steve Chandler’s Wealth Warrior Group. This is the last year as they’re wrapping it up to focus more on coaching as that is his real passion. Here is a timely thought from Steve Chandler:
"Well, you know, fears are something that we multiply in our mind, and we multiply them so that every fear that everyone has, in their mind they've multiplied by a factor of about 100. So the fear is so much worse than doing the actual thing would be, and then by not doing it it grows and grows and grows. And then finally, if for some reason we just have to do it, we're really exhilarated and we almost feel giddy because, my gosh, there's only one way around that. And that is to find a way to walk toward that fear and deal with it in a way that isn't frightening. Now, if people will take time, they will be able to come up with a way, a routine, a structure, to deal with any fear they have in grown up life that does not scare them. But they don't take the time because they're too afraid to even look at the issue. And that occurs over and over and over. "
“If you are distressed by anything external, the pain is not due to the thing itself, but to your estimate of it; and this you have the power to revoke at any moment.” - Marcus Aurelius
North West Edmonton: Canora 4-Unit Cashflow
Turbo
charge your portfolio. This bright and open four-unit is listed as a
side by side Duplex with condo titles (I interpret that to mean that the
lower suites are non-conforming and not legal). 1997 built, located a
few blocks from 107th it has good access to local amenities.Walking distance to schools, transport and close to downtown. This property has separate entrances to each suite; 2 X 3 bd and 2 X 2 bd, single garages, plus pad. This property was well designed for light and spaciousness, it’s in good condition.
This is a turn-key deal. Good access to downtown and in a rent-able, working-class neighbourhood.
Comes complete with great tenants making this a totally turn-key property for you. Canora is a mature neighbourhood that is desirable for tenants working in the Westend and downtown. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton's desirable growing core.
Purchase price: $664,000
Total Investment: $153,540
Your Estimated 5 Year Profit $89,900
Your pre-tax Total ROI is 58% or 11.7% 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!
=========================
Gary Lamphier: Canadian Western Bank sees growth beyond Alberta
By Gary Lamphier, Edmonton Journal, November 6th, 2015
In a year that has been chock full of lousy economic news, this was an especially depressing week for Alberta.
Long-slumping oil prices slid anew Friday, closing at just $44.29 US a barrel, down nearly five per cent from the previous Friday.
On the employment front, Alberta shed another 11,000 jobs in October, according to Statistics Canada’s latest monthly data, even as Canada gained more than 44,000 jobs.
That pushed Alberta’s unemployment rate to 6.6 per cent, up from just 4.4 per cent a year ago, leaving tens of thousands of people out of work.
Just for good measure, U.S. President Barack Obama piled on Friday, putting the final nail in the coffin of TransCanada’s long-proposed Keystone XL oil pipeline project.
While Obama’s decision surprised no one, it inflicted another psychological wound on Alberta’s struggling oilpatch, which is bracing for tougher emissions penalties and a possible hike in royalty rates by year’s end, courtesy of Alberta’s new NDP government. GRAB THIS STORY
===============
Alberta loses nearly 11,000 jobs as unemployment rate rises to 6.6%
By Mario Toneguzzi, Calgary Herald, November 6th, 2015
Alberta’s unemployment rate crept higher as the province lost nearly 11,000 jobs in October, including 3,600 in Calgary, Statistics Canada reported Friday.
The unemployment rate rose to 6.6 per cent, from 6.5 in September.
StatsCan said the job losses provincially were full-time — 11,600 fewer positions month-over-month — while part-time employment rose by 800 jobs.
On an annual basis, employment was up by 13,400 positions, but the gains were in part-time work, which saw a gain of 35,500 positions. The number of full-time jobs in Alberta fell 22,100 from October 2014.
The unemployment rate is 2.2 points higher than it was in October 2014, due largely to a 70,000-person increase in the size of Alberta’s labour force — people who are working or looking for work. READ MORE HERE
===============
Shell says it halted oilsands pipeline over uncertainty
By Jeff Lewis, The Globe and Mail, November 6th., 2015
Royal Dutch Shell’s chief executive says uncertainty over pipelines such as Keystone XL, killed by the U.S. government on Friday, played a role in the company’s decision to scrap a major oil sands project last month – a sign that export constraints are squeezing some of the industry’s largest players.
Last month, Shell took a $2-billion (U.S.) hit after halting construction of its 80,000 barrel-per-day Carmon Creek development in northwest Alberta. It cited high costs and insufficient pipeline capacity to move the supplies to market as reasons.
On Friday, Ben van Beurden said the project’s economics were subject to a “very, very wide range of outcomes,” including the fate of major pipelines, undermining its viability as the energy giant reins in spending to cope with lower oil prices.
“It was basically a clear, straight-forward economical decision,” he said during a meeting with reporters at the company’s Scotford refining complex northwest of Edmonton. FOLLOW THIS ARTICLE
===============
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.
"Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy." - Dale Carnegie
Warm Regards,
Todd and Danielle Millar
===SPECIAL NOTICE: NO CASH, BUT GOOD CREDIT? CALL US TODAY TO LEARN HOW YOU CAN OWN INVESTMENT PROPERTY===
P.S. Stay ahead by checking out Danielle's daily blog at Edmonton Real Estate Investor for all your cutting edge market news and information.
Tuesday, November 10, 2015
Ending Homelessness in Edmonton
Edmonton's part in a 6 year old campaign to eradicate homelessness is well on it's way to being a success. Since joining the national campaign to house the chronically homeless, approximately 20,000, by 2018, the city has reduced our numbers by 25%.
"If you are unmoved by any of the moral arguments or ethical arguments for why we should do this, there is a very, very strong business case," "We will all save money as taxpayers supporting very expensive justice costs and very expensive health-care costs. And if you're concerned about where your tax dollars are going, the biggest cost centre at the city of Edmonton is policing." Mayor Don Iveson
There are many ways you can help stop homelessness. I'm going to a Lunch N Learn on Monday November 16 from 11:30am to 1pm. Tickets are $21.80.
"If you are unmoved by any of the moral arguments or ethical arguments for why we should do this, there is a very, very strong business case," "We will all save money as taxpayers supporting very expensive justice costs and very expensive health-care costs. And if you're concerned about where your tax dollars are going, the biggest cost centre at the city of Edmonton is policing." Mayor Don Iveson
There are many ways you can help stop homelessness. I'm going to a Lunch N Learn on Monday November 16 from 11:30am to 1pm. Tickets are $21.80.
Tuesday, November 03, 2015
More Good News
When we started our newsletter almost 10 years ago it was called "More Good News" because there WAS always more good news to write about. I looked at the links that were selected for the blog today and wanted to call this blog "More Bad News"
The job losses in Alberta, falling house prices and reduced drilling forecast for 2016 in the oilsands to name a few. It's easy to get caught up in the sky is falling mentality. It's not our first bust, not the first time real estate prices have dropped and not the first time oil prices have fallen. The best thing to do is keep your head down focus on your business ( no one elses) and ensure you're playing your "A" game.
My "A" game means impeccably renovated rentals, an aggressive approach to tenanting and watching my loonines and toonies. That's all. Oh and not getting caught up in the media.
So, instead of all that news up there, why don't you read about the love between a man and a penguin, how we live in the freest country in the world (not sure why Trudeau is the image) and how this library waived nearly $1,000,000 in overdue fees.
Enjoy.
The job losses in Alberta, falling house prices and reduced drilling forecast for 2016 in the oilsands to name a few. It's easy to get caught up in the sky is falling mentality. It's not our first bust, not the first time real estate prices have dropped and not the first time oil prices have fallen. The best thing to do is keep your head down focus on your business ( no one elses) and ensure you're playing your "A" game.
My "A" game means impeccably renovated rentals, an aggressive approach to tenanting and watching my loonines and toonies. That's all. Oh and not getting caught up in the media.
So, instead of all that news up there, why don't you read about the love between a man and a penguin, how we live in the freest country in the world (not sure why Trudeau is the image) and how this library waived nearly $1,000,000 in overdue fees.
Enjoy.
Monday, November 02, 2015
Spend today, pay tomorrow.
Alberta Oil Sands Investment Real Estate News®
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 2nd., 2015
Volume 19, Issue 7
Dear Friends and Partners,
There has certainly been a lot of change with the Federal election and the Alberta budget tabled earlier this week. Oil doesn’t seem to be improving and we’ve definitely sailed into stormy, or at least unpredictable weather. The best advice which we gave earlier still stands; batten down the hatches.
Investors should place close attention to keeping their units in good condition, quality tenants in place (renew leases) and actively market units while keeping expenses low. It looks as though residential real estate will continue on a downward trend, industrial/commercial will trend lower as some leases will be broken due to downturn in the industry. This will make it more challenging for banks to value and approve certain commercial real estate loans as they see more risk.
Downtown Edmonton continues to grow with new projects beginning, underway and a few coming to completion. Most of the money has been allocated so this growth will continue, privately funded projects may be mothballed until more stability in the market.
Opportunities are always around if you look hard enough. Residential and multifamily properties in the downtown core and around can offer good value. Commercial and office will be tricky to navigate for junior investors but offers some upside. Cycles tend to last 5-7 years, some longer.
Hang in there… for the long, longterm.
North West Edmonton: Canora 4-Unit Cashflow
Turbo charge your portfolio. This bright and open four-unit is listed as a side by side Duplex with condo titles (I interpret that to mean that the lower suites are non-conforming and not legal). 1997 built, located a few blocks from 107th it has good access to local amenities.
Walking distance to schools, transport and close to downtown. This property has separate entrances to each suite; 2 X 3 bd and 2 X 2 bd, single garages, plus pad. This property was well designed for light and spaciousness, it’s in good condition.
This is a turn-key deal. Good access to downtown and in a rent-able, working-class neighbourhood.
Comes complete with great tenants making this a totally turn-key property for you. Canora is a mature neighbourhood that is desirable for tenants working in the Westend and downtown. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton's desirable growing core.
Purchase price: $664,000
Total Investment: $153,540
Your Estimated 5 Year Profit $89,900
Your pre-tax Total ROI is 58% or 11.7% 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!
=========================
Gary Lamphier: Carlo Montemagno’s Plan to save the Alberta economy
By Gary Lamphier, Edmonton Journal, October 30th, 2015
The NDP government’s plan to revive Alberta’s struggling economy basically boils down to this: Let’s hope oil prices recover while we spend bags of money we don’t have on public infrastructure, with billions more aimed at juicing the growth of early-stage companies.
I hope the NDP approach works. Seriously. Short term, the options seem rather limited.
But here’s the thing. Real, sustainable economic growth only comes when the private sector is able to make products or provide services the world wants and needs, at prices that generate a healthy profit. Alberta used to do that. Now, not so much. GRAB THIS STORY
===============
NDP to table the largest deficit in Alberta history as provincial revenues plummet with oil prices
By Darcy Henton and Chris Varcoe, Postmedia News, October 25th, 2015
Lost in the hullabaloo over Rachel Notley’s NDP snuffing out the 44-year Tory dynasty has been the magnitude of the fiscal squeeze now facing the province.
The collapse of crude oil prices that had former Progressive Conservative premier Jim Prentice warning Albertans to brace for a $7-billion hole in provincial revenues will result in his NDP successors tabling a budget Tuesday that forecasts the largest-ever deficit in the province’s history.
Finance Minister Joe Ceci hinted this week the deficit will be just shy of $6.5 billion — nearly $1.5 billion more than Prentice forecast last March in a budget that was never passed. MORE HERE
===============
Edmonton home prices flat as sales decline
By Bill Mah, Edmonton Journal, October 2nd., 2015
Home prices in Edmonton held relatively steady in September despite nearly a double-digit sales decline, MLS figures released Friday by the Realtors Association of Edmonton show.
The average residential price for the Edmonton census metropolitan area last month was $368,874, down 0.75 per cent year-over-year. FOLLOW THIS ARTICLE
===============
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.
“Thinking will not overcome fear, but action will.” -W. Clement Stone
Warm Regards,
Todd and Danielle Millar
===SPECIAL NOTICE: NO CASH, BUT GOOD CREDIT? CALL US TODAY TO LEARN HOW YOU CAN OWN INVESTMENT PROPERTY===
P.S. Stay ahead by checking out Danielle's daily blog at Edmonton Real Estate Investor for all your cutting edge market news and information.
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 2nd., 2015
Volume 19, Issue 7
Dear Friends and Partners,
There has certainly been a lot of change with the Federal election and the Alberta budget tabled earlier this week. Oil doesn’t seem to be improving and we’ve definitely sailed into stormy, or at least unpredictable weather. The best advice which we gave earlier still stands; batten down the hatches.
Investors should place close attention to keeping their units in good condition, quality tenants in place (renew leases) and actively market units while keeping expenses low. It looks as though residential real estate will continue on a downward trend, industrial/commercial will trend lower as some leases will be broken due to downturn in the industry. This will make it more challenging for banks to value and approve certain commercial real estate loans as they see more risk.
Downtown Edmonton continues to grow with new projects beginning, underway and a few coming to completion. Most of the money has been allocated so this growth will continue, privately funded projects may be mothballed until more stability in the market.
Opportunities are always around if you look hard enough. Residential and multifamily properties in the downtown core and around can offer good value. Commercial and office will be tricky to navigate for junior investors but offers some upside. Cycles tend to last 5-7 years, some longer.
Hang in there… for the long, longterm.
North West Edmonton: Canora 4-Unit Cashflow
Turbo charge your portfolio. This bright and open four-unit is listed as a side by side Duplex with condo titles (I interpret that to mean that the lower suites are non-conforming and not legal). 1997 built, located a few blocks from 107th it has good access to local amenities.Walking distance to schools, transport and close to downtown. This property has separate entrances to each suite; 2 X 3 bd and 2 X 2 bd, single garages, plus pad. This property was well designed for light and spaciousness, it’s in good condition.
This is a turn-key deal. Good access to downtown and in a rent-able, working-class neighbourhood.
Comes complete with great tenants making this a totally turn-key property for you. Canora is a mature neighbourhood that is desirable for tenants working in the Westend and downtown. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton's desirable growing core.
Purchase price: $664,000
Total Investment: $153,540
Your Estimated 5 Year Profit $89,900
Your pre-tax Total ROI is 58% or 11.7% 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!
=========================
Gary Lamphier: Carlo Montemagno’s Plan to save the Alberta economy
By Gary Lamphier, Edmonton Journal, October 30th, 2015
The NDP government’s plan to revive Alberta’s struggling economy basically boils down to this: Let’s hope oil prices recover while we spend bags of money we don’t have on public infrastructure, with billions more aimed at juicing the growth of early-stage companies.
I hope the NDP approach works. Seriously. Short term, the options seem rather limited.
But here’s the thing. Real, sustainable economic growth only comes when the private sector is able to make products or provide services the world wants and needs, at prices that generate a healthy profit. Alberta used to do that. Now, not so much. GRAB THIS STORY
===============
NDP to table the largest deficit in Alberta history as provincial revenues plummet with oil prices
By Darcy Henton and Chris Varcoe, Postmedia News, October 25th, 2015
Lost in the hullabaloo over Rachel Notley’s NDP snuffing out the 44-year Tory dynasty has been the magnitude of the fiscal squeeze now facing the province.
The collapse of crude oil prices that had former Progressive Conservative premier Jim Prentice warning Albertans to brace for a $7-billion hole in provincial revenues will result in his NDP successors tabling a budget Tuesday that forecasts the largest-ever deficit in the province’s history.
Finance Minister Joe Ceci hinted this week the deficit will be just shy of $6.5 billion — nearly $1.5 billion more than Prentice forecast last March in a budget that was never passed. MORE HERE
===============
Edmonton home prices flat as sales decline
By Bill Mah, Edmonton Journal, October 2nd., 2015
Home prices in Edmonton held relatively steady in September despite nearly a double-digit sales decline, MLS figures released Friday by the Realtors Association of Edmonton show.
The average residential price for the Edmonton census metropolitan area last month was $368,874, down 0.75 per cent year-over-year. FOLLOW THIS ARTICLE
===============
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.
“Thinking will not overcome fear, but action will.” -W. Clement Stone
Warm Regards,
Todd and Danielle Millar
===SPECIAL NOTICE: NO CASH, BUT GOOD CREDIT? CALL US TODAY TO LEARN HOW YOU CAN OWN INVESTMENT PROPERTY===
P.S. Stay ahead by checking out Danielle's daily blog at Edmonton Real Estate Investor for all your cutting edge market news and information.
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