Land-lording is so stressful! Sometimes just having a group of like-minded (or situated people) to vent to can make this industry seem easier.
I also guarantee you will meet someone who will tell you a story and you walk away saying "I'm glad that's not me!" We all have bad stories and if you don't you just haven't been doing it long enough.
Here is a collection of lighthearted stories from other landlords. Think of it as Chicken Soup for the Landlord's soul. Read more here
Wednesday, February 24, 2016
Selling in Edmonton 2016
We're constantly looking at property prices. We sometimes play a game were we look at the location, the interior photos and read the property details then try and guess the price. It's super fun but recently ends with lots of gasps of "That's insane!"
It's a buyer's market in Edmonton. There will be pricing adjustments and you'll need to decide if you have to sell or if you need THAT price. Because your house will sit longer and cost you more if you don't reflect the price the slighty flooded market is willing to pay for your property.
It's a buyer's market in Edmonton. There will be pricing adjustments and you'll need to decide if you have to sell or if you need THAT price. Because your house will sit longer and cost you more if you don't reflect the price the slighty flooded market is willing to pay for your property.
Monday, February 22, 2016
The Future of Northlands = Amazing
Edmonton city center is changing so much. The next 4 to 5 years is going to bring our downtown core to world class levels.
Northlands and Rexall place are being totally revitalized. It's so exciting because both areas haven't always been the best foot our city could put forward.
Remember when all we had to worry about was the new arena? Take a look
Northlands and Rexall place are being totally revitalized. It's so exciting because both areas haven't always been the best foot our city could put forward.
Remember when all we had to worry about was the new arena? Take a look
February This and That
Well one good thing in Alberta is we are having a beautiful winter. Maybe there is a direct correlation between low oil and higher temperatures. Every one of us here would go down to -40C for an equal hike in oil prices.
Dropping oil prices aren't over yet nor is there any clear indication of when they will rally.
"A growing number of grim forecasts are calling for even that demolished price to fall further. Last fall Goldman Sachs warned oil could hit US$25 as crude storage tanks reached capacity. In December a report from the International Monetary Fund argued new oil flowing from Iran could push prices even lower. This week analysts at Morgan Stanley made the case for US$20 oil based on the strengthening value of the U.S. dollar, which tends to push commodity prices lower." JUMP
Some say that China's economic slump will keep the price of oil low for a long long time.
"They say you don’t know what you have until it’s gone. For Canada’s oil patch, China’s growing demand for oil always seemed like a permanent fixture – an everlasting thirst that would never run dry. Chinese oil consumption skyrocketed after the turn of the millennium, from an average of under 4.4 million barrels per day (bpd) in 2000 to just under 11 million bpd 15 years later. A massive infrastructure buildout in the country was fueling a bonanza, and in April 2014 China surpassed the U.S. as the world’s largest net importer of oil." Read More
And our current political situation hasn't helped with stability.
“Heightened environmental concerns, a lack of pipeline access to new markets and the unknown impact of the victory by the New Democratic Party in Alberta’s elections last year are causing companies to slow development,” IEA HERE
Dropping oil prices aren't over yet nor is there any clear indication of when they will rally.
"A growing number of grim forecasts are calling for even that demolished price to fall further. Last fall Goldman Sachs warned oil could hit US$25 as crude storage tanks reached capacity. In December a report from the International Monetary Fund argued new oil flowing from Iran could push prices even lower. This week analysts at Morgan Stanley made the case for US$20 oil based on the strengthening value of the U.S. dollar, which tends to push commodity prices lower." JUMP
Some say that China's economic slump will keep the price of oil low for a long long time.
"They say you don’t know what you have until it’s gone. For Canada’s oil patch, China’s growing demand for oil always seemed like a permanent fixture – an everlasting thirst that would never run dry. Chinese oil consumption skyrocketed after the turn of the millennium, from an average of under 4.4 million barrels per day (bpd) in 2000 to just under 11 million bpd 15 years later. A massive infrastructure buildout in the country was fueling a bonanza, and in April 2014 China surpassed the U.S. as the world’s largest net importer of oil." Read More
And our current political situation hasn't helped with stability.
“Heightened environmental concerns, a lack of pipeline access to new markets and the unknown impact of the victory by the New Democratic Party in Alberta’s elections last year are causing companies to slow development,” IEA HERE
Tuesday, February 16, 2016
Saturday, February 13, 2016
JIngle Mail
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
February 13th., 2016
Volume 20, Issue 3
Dear Friends and Partners,
For the last few years we’ve seen a bit of a boom in RTO (Rent To Own) investments in Edmonton. There are a few ways to do them. You can bring in an investment partner and with full-disclosure they are perfectly legal. RTO, like many investment strategies, have risks and require their own set of due-diligence questions to go through.
Another investment that isn’t new, but has been popping up quite a bit is flipping and skip transfers (similar versions; wraps, sandwich leases).
Many of these strategies have been around for a long while. There are legal ways to do them and illegal ways to do them. With our market slowing considerably in Edmonton, you won’t find as many people employing this strategy; rather you will see people modifying it to entice a sale for a seller that wants rid of his property. Similar to shorting a stock.
Where you typically see flipping is in hot markets like Vancouver and Toronto. Peter Kinch clarifies what a skip-transfer is in this short video. Watch it here.
Downtown Edmonton: Oliver 9-Unit Apartment
Turbo charge your portfolio. Great, 9-unit apartment, minutes from Ice
District; a winner to add to any portfolio. 1972 built, meticulously
maintained. Terrific access to local amenities in trendy Oliver.
Mechanical, roof and 6 units all upgraded. This property has a great suite mix; 6 X 2 bd and and 3 X studios, all parking stalls are energized and separately metered.
This property has a tried and true layout and is built to last. Purchase price includes reserve fund and estimated $30K in renos to make the property shine! This is a turn-key deal. Excellent access downtown and in the highly rent-able and desirable neighbourhood of Oliver. CAP rate of 6% and 5% C.O.C. return.
Comes complete with great tenants making this a totally turn-key property for you. Oliver is a mature neighbourhood that is desirable for tenants working in the downtown and attending NAIT. 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: $1.05M
Total Investment: $387K.
Your Estimated 5 Year Profit $151,968.
Your pre-tax Total ROI is 40% or 8% per year
These 9 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!
=========================
Trudeau and Notely talk pipelines and slumping prices with oilpatch
By James Wood, Calgary Herald, February 4th, 2016
Justin Trudeau’s pledges of help were met with guarded optimism in the heart of the oilpatch Thursday, even as the prime minister made no concrete promises around pipeline proposals.
As Trudeau and Premier Rachel Notley hosted a round table meeting in his first visit to Calgary since becoming prime minister, he told a group of top energy executives the government wanted to hear ways Ottawa “can be a better partner in helping you through this difficult time.”
When he spoke to reporters later after touring the downtown YWCA, Trudeau said he believes the battered energy sector is open to a different approach from the federal government. FOLLOW THIS ARTICLE
===============
Jingle mail rears its ugly head in Alberta again
Federal government worried about Albertans making strategic defaults on their mortgages
By Tracy Johnson, CBC News, February 8th, 2016
One of the big bads from the 1980s is starting to emerge again in Alberta.
Jingle mail — the act of walking away from an underwater mortgage by mailing your keys back to the bank — is a peculiarity of the Alberta residential market and an act of desperation. However, a combination of high debt and lost jobs make it an option in a province going through a significant economic reckoning.
It's enough of a concern that the federal government is watching the Alberta market closely. Jingle mail, or strategic defaults, weaken the housing market and increase loan losses among Canada's banks. GRAB THIS STORY
===============
Edmonton real estate market gives reason for optimism
By Graham Hicks, Postmedia Network, February 11th, 2016
You have to forgive Realtors.
They are relentlessly optimistic.
The economy is dropping like a rock. A great time to buy!
The economy is sizzling red-hot. A great time to sell!
I was impressed with the reasonably objective research and conclusions of Edmonton Realtor (and ex-accountant) Kathy Schmidt, in her monthly The Schmidt Report.
The sky is not falling, she argues, not in Edmonton’s housing market.
It has crashed down in Fort McMurray, it’s falling in Calgary, but here, we’re just a little overcast.
Median house prices are down – about 3% — in most of Metropolitan Edmonton, a median price of about $340,000 compared to $350,000 at this time last year. READ MORE HERE
===============
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.
“Accept the challenges so that you can feel the exhilaration of victory.” - George S. Patton
Warm Regards,
Todd and Danielle Millar
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
February 13th., 2016
Volume 20, Issue 3
Dear Friends and Partners,
For the last few years we’ve seen a bit of a boom in RTO (Rent To Own) investments in Edmonton. There are a few ways to do them. You can bring in an investment partner and with full-disclosure they are perfectly legal. RTO, like many investment strategies, have risks and require their own set of due-diligence questions to go through.
Another investment that isn’t new, but has been popping up quite a bit is flipping and skip transfers (similar versions; wraps, sandwich leases).
Many of these strategies have been around for a long while. There are legal ways to do them and illegal ways to do them. With our market slowing considerably in Edmonton, you won’t find as many people employing this strategy; rather you will see people modifying it to entice a sale for a seller that wants rid of his property. Similar to shorting a stock.
Where you typically see flipping is in hot markets like Vancouver and Toronto. Peter Kinch clarifies what a skip-transfer is in this short video. Watch it here.
Downtown Edmonton: Oliver 9-Unit Apartment
Mechanical, roof and 6 units all upgraded. This property has a great suite mix; 6 X 2 bd and and 3 X studios, all parking stalls are energized and separately metered.
This property has a tried and true layout and is built to last. Purchase price includes reserve fund and estimated $30K in renos to make the property shine! This is a turn-key deal. Excellent access downtown and in the highly rent-able and desirable neighbourhood of Oliver. CAP rate of 6% and 5% C.O.C. return.
Comes complete with great tenants making this a totally turn-key property for you. Oliver is a mature neighbourhood that is desirable for tenants working in the downtown and attending NAIT. 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: $1.05M
Total Investment: $387K.
Your Estimated 5 Year Profit $151,968.
Your pre-tax Total ROI is 40% or 8% per year
These 9 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!
=========================
Trudeau and Notely talk pipelines and slumping prices with oilpatch
By James Wood, Calgary Herald, February 4th, 2016
Justin Trudeau’s pledges of help were met with guarded optimism in the heart of the oilpatch Thursday, even as the prime minister made no concrete promises around pipeline proposals.
As Trudeau and Premier Rachel Notley hosted a round table meeting in his first visit to Calgary since becoming prime minister, he told a group of top energy executives the government wanted to hear ways Ottawa “can be a better partner in helping you through this difficult time.”
When he spoke to reporters later after touring the downtown YWCA, Trudeau said he believes the battered energy sector is open to a different approach from the federal government. FOLLOW THIS ARTICLE
===============
Jingle mail rears its ugly head in Alberta again
Federal government worried about Albertans making strategic defaults on their mortgages
By Tracy Johnson, CBC News, February 8th, 2016
One of the big bads from the 1980s is starting to emerge again in Alberta.
Jingle mail — the act of walking away from an underwater mortgage by mailing your keys back to the bank — is a peculiarity of the Alberta residential market and an act of desperation. However, a combination of high debt and lost jobs make it an option in a province going through a significant economic reckoning.
It's enough of a concern that the federal government is watching the Alberta market closely. Jingle mail, or strategic defaults, weaken the housing market and increase loan losses among Canada's banks. GRAB THIS STORY
===============
Edmonton real estate market gives reason for optimism
By Graham Hicks, Postmedia Network, February 11th, 2016
You have to forgive Realtors.
They are relentlessly optimistic.
The economy is dropping like a rock. A great time to buy!
The economy is sizzling red-hot. A great time to sell!
I was impressed with the reasonably objective research and conclusions of Edmonton Realtor (and ex-accountant) Kathy Schmidt, in her monthly The Schmidt Report.
The sky is not falling, she argues, not in Edmonton’s housing market.
It has crashed down in Fort McMurray, it’s falling in Calgary, but here, we’re just a little overcast.
Median house prices are down – about 3% — in most of Metropolitan Edmonton, a median price of about $340,000 compared to $350,000 at this time last year. READ MORE HERE
===============
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.
“Accept the challenges so that you can feel the exhilaration of victory.” - George S. Patton
Warm Regards,
Todd and Danielle Millar
Thursday, February 11, 2016
The IKEA story
Ingvar Krampad is the man that built IKEA to it's global prominence. As a child he had an entrepreneurial spirit which clearly worked out well for him. He is one of the top 10 richest men in the world at $39B net worth.
This quick slide show gives a glimpse at the IKEA story. My favorite part? He's been driving the same Volvo for 20 years. He's the original Y.A.W.N.
This quick slide show gives a glimpse at the IKEA story. My favorite part? He's been driving the same Volvo for 20 years. He's the original Y.A.W.N.
Monday, February 08, 2016
This is a great idea
My house is near a new planned LRT station. The city cleared about 6 houses on the street for the upcoming expansion and I believe all of them were moved this way.
There's nothing I love more than a 50's bungalow, they are solid well built homes and from a generation that maintained property keeping it "neat as a pin". If you can reuse houses (upcycle if you will) and give someone and affordable home then that is a great business model.
These houses at the end typically cost under $100,000!
"A lot of these houses, there's nothing wrong with them. They're structurally sound and they've been maintained and upgraded over the years." Read more
There's nothing I love more than a 50's bungalow, they are solid well built homes and from a generation that maintained property keeping it "neat as a pin". If you can reuse houses (upcycle if you will) and give someone and affordable home then that is a great business model.
These houses at the end typically cost under $100,000!
"A lot of these houses, there's nothing wrong with them. They're structurally sound and they've been maintained and upgraded over the years." Read more
Tuesday, February 02, 2016
Money for Alberta and Buying Low
Alberta could qualify for up to $250 million in aid
"The Alberta government could be eligible for payments under the 50-year-old fiscal stabilization program, designed to compensate provinces that suffer steep drops in revenues from one year to the next, federal Finance Minister Bill Morneau" Read here
“If you want to buy low and sell high, generally speaking, the time to buy low is when things are going wrong,” Ian Glassford, the chief financial officer with Servus Credit Union in Edmonton Read Here
"The Alberta government could be eligible for payments under the 50-year-old fiscal stabilization program, designed to compensate provinces that suffer steep drops in revenues from one year to the next, federal Finance Minister Bill Morneau" Read here
“If you want to buy low and sell high, generally speaking, the time to buy low is when things are going wrong,” Ian Glassford, the chief financial officer with Servus Credit Union in Edmonton Read Here
Monday, February 01, 2016
January Doldrums
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
February 1st., 2016
Volume 20, Issue 2
Dear Friends and Partners,
So, there you have January 2016 - done. It was an anemic month for growth, decisions and ‘keeping a steady hand on the rudder’.
But, let’s focus on the good; oil hung on around $30 bbl., rates stayed low (a neutral event), some cash was injected into the AB economy (see below) and a rather frustrating, yet good decision was made to keep the Royalty Rate - the same. You can read more about that from Don Braid.
What we need is more clear decisions and less indiscretions. The royalty review was a ‘decision' and that will create some stability, at a needed time - so that’s good news.
I’m seeing a lot of for rent signs up, but that’s what happens during down turns (preferably not in January, but hey..). You’ll have a segment of renters that will choose to move to cheaper properties. You’ll also have landlords adjust from higher rents to moderate ones and inexperienced landlords at already low rates, panic, and drop further - don’t be the latter sort.
Downtown Edmonton: Oliver 9-Unit Apartment
Mechanical, roof and 6 units all upgraded. This property has a great suite mix; 6 X 2 bd and and 3 X studios, all parking stalls are energized and separately metered.
This property has a tried and true layout and is built to last. Purchase price includes reserve fund and estimated $30K in renos to make the property shine! This is a turn-key deal. Excellent access downtown and in the highly rent-able and desirable neighbourhood of Oliver. CAP rate of 6% and 5% C.O.C. return.
Comes complete with great tenants making this a totally turn-key property for you. Oliver is a mature neighbourhood that is desirable for tenants working in the downtown and attending NAIT. 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: $1.05M
Total Investment: $387K.
Your Estimated 5 Year Profit $151,968.
Your pre-tax Total ROI is 40% or 8% per year
These 9 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!
=========================
Opinion: Let’s not let economic gloom kill Alberta’s dreams
By Thomas Lukaszuk, Edmonton Journal, January 29th, 2016
Recent media articles paint an apocalyptic picture of Alberta’s economy and the province’s prognosis for recovery.
Maclean’s magazine declared our economic slowdown as the “Death of the Alberta Dream.” The sudden drop in commodity prices, shifts in carbon fuel production and consumption, plummeting dollar and some counterintuitive fiscal policy shifts by the provincial government have resulted in massive job losses, the outflow of investment capital and immediate drop in government revenues.
These financial challenges are felt by Albertans and will become more evident in 2016. Yet my outlook is optimistic. FOLLOW THIS ARTICLE
===============
Alberta kicks in another $5M to help-high tech companies
By Jodie Sinnema, Edmonton Journal, January 22nd., 2016
The Alberta government is pumping an additional $5 million into a program to help small and medium companies and entrepreneurs create jobs and develop high-tech ideas into commercial products.
That’s on top of $4.1 million already funnelled into the program. It has allowed companies such as Pleasant Solutions, which hires out software developers and works in the security and password field, create one permanent job for every $15,000 in such grants. READ MORE HERE
===============
The 10 Best (non-oil) things about Alberta
By Todd Hirsch, Special for Globe & Mail, December 17th, 2015
While it was booming, Alberta’s petroleum sector was a gravitational black hole that sucked up everything else around it. Other industries scrambled to compete for labour, office space and investment capital. It’s a challenge for a tech firm, for example, to open an office in Calgary when a receptionist could command $75,000 a year.
Today, Alberta is grappling with an energy patch that has lost its gravity, at least for now. Oil is below $40 (U.S.) a barrel, and it won’t come suddenly roaring back in 2016. This winter will be difficult for thousands who’ve been thrown out of work. GRAB THIS STORY
===============
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.
“I don’t know where I’m going, but I promise it won’t be boring.” -David Bowie
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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