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
January 15th., 2016
Volume 20, Issue 1
Dear Friends and Partners,
I hope that you enjoyed your break over the holidays. I’ve heard many conversations at home, events and socials where the talk varies from the Chinese economy to death of oil. Most of the conversations are gloomy, and why wouldn’t they be - it’s a gloomy time in Canada.
My American friends seem more optimistic, while being cautious. Friends in the EU are concerned about terrorism and whether the UK will dump the Euro, triggering a decline. I’m sure that in your circle of friends, you’ll find different opinions too.
Right here in Canada people speak with conviction whether they have insight or just experience to share. Bottom line = No one can predict the future.
As I’ve said for over a year, we have tough times ahead; it’s time to make well calculated financial decisions. Remember, there are many strategies to employ during a down-turn that can be very successful with both paper assets and bricks and mortar.
Stay calm, mind your assets, take the news with a grain of salt and your eyes open and do remain in action.
South Central Edmonton: Hazeldean 2-Unit Cashflow
Great, 1200 sqft bungalow with suite; a winner to add to any portfolio. 1957 built, located a few blocks from 99th St., on an inner road insulated from traffic. Terrific access to local amenities in trendy Hazeldean. Walking distance to schools, transport and close to downtown. This property has separate entrances to each suite; 1 X 3 bd up and and 1 X 2 bd, there is also a double garage and small driveway.
This property has a tried and true layout and was built to last. Included in purchase price is an estimated $30K in renos to legalize suite and make the property shine! This is a turn-key deal. Good access to downtown and in a highly rentable and desirable neighbourhood.
Comes complete with great tenants making this a totally turn-key property for you. Hazeldean is a mature neighbourhood that is desirable for tenants working in the South 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: $380,000
Total Investment: $90,120
Your Estimated 5 Year Profit $51,057
Your pre-tax Total ROI is 56%
These 2 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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The death of the Alberta dream
Large-scale layoffs, empty office towers, falling house prices: Alberta has been gutted by the glut.
By Jason Markusoff, Maclean’s, January 6th, 2016
Late last year, Brandon MacKay listed his Kawasaki dirt bike for sale on Kijiji, the online classifieds site. It was the only treat the 25-year-old had given himself in three years living in Fort McMurray. The rest he’d spent on supporting and visiting his wife and kids in Pictou County, N.S. But in crafting the ad for the bike—$4,400 or best offer—MacKay did what any sales agent would advise against: he revealed his desperation to sell. “I lost my job and am in need of money for my wife and kids for Christmas.” GRAB THIS STORY
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Alberta needs an oil price "sweet spot"
By Kevin Maimann, Edmonton Sun, January 6th, 2016
An oil price "sweet spot" - not another boom - is what Alberta's economy needs, according to ATB Financial's chief economist.
Todd Hirsch said the ideal price for oil would be $65-70 per barrel.
"I know most people in the energy sector would say 100 is the sweet spot. But I actually think that something counter-intuitive happens when oil prices are too high, and that is the petroleum sector turns into this sort of black hole of gravity that pulls everything into its orbit - labour and office space and investment capital.
"It's really difficult for other non-energy sectors to do well when the energy sector tends to be pulling everything in," he said. READ MORE HERE
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Alberta’s economy forced to ‘recalibrate': economist
By CTV staff, CTV News January 4th., 2016
Low oil prices took a toll on the Alberta economy in the latter half of 2015. But the price of crude is forcing a "recalibration" which will better prepare the province's petroleum sector for when oil prices eventually rebound, says one economist.
Low oil prices have resulted in mass layoffs in the oilpatch.
In July, 2014, a barrel of crude was priced at just over US$100 a barrel. It now sits below US$40.
FOLLOW THIS ARTICLE
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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.
“We’re still in a recession. We’re not going to get out of it for a while, but we will get out” -Warren Buffett
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 blog at Edmonton Real Estate Investor for all your cutting edge market news and information.
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