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
September 15th., 2016
Volume 21, Issue 5
Dear Friends and Partners,
There is a fine balance to what we can control and what we should control. Simple things (can) become complicated when we add more government. As a landlord, these three topics struck me lately; landlords being responsible for delinquent tenant’s utility bills, tenants who are in abusive relationships being able to sever their leases without penalty and vacant home owners possibly facing tax penalties for buying a home and not renting it out or living in it.
All of these issues are important; people should be held accountable for paying their utility (and rent) bills. Women in abusive relationships should get help/alternate housing when fleeing a harmful situation and perhaps speculative real estate investors should face a levy when buying up real estate - the last one is a grey area.
What I find a conundrum is - why is the landlord the one to have to pick up the tab and pay out of his/her pocket to facilitate these social ideals/necessities?
The unforeseen consequences vary from landlords tightening up who they rent to, crafting leases to protect themselves (which won’t under RTDS scrutiny), tenants in non-abusive relationships exploiting the laws by lying to landlords to break leases, or absentee homeowners getting into the rental market without the knowledge of how to price a rental or manage one - potentially resulting in losses to tenants and other landlords through improper management (at the result of avoiding a tax penalty).
What do you think? Comment here.
Central NW Edmonton: Inglewood, Legal 6-Unit Cashflow
Turbo
charge your portfolio. For those wanting a low risk investment in a
great area with 6 units under one roof - here it is. 6-unit with 4,208
sqft, steps from Westmount mall and school.Five minutes to Downtown, 4 minutes to Hospital, 15 to UOA all in trendy Inglewood. This is property has many recent upgrades and offers self contained units. 3 X 1 bedroom units, 2 X 2 BD and 1 bachelor suite. 1966 built, R7 zoned building. 6 Parking stalls and large lot.
Terrific access to local amenities in sought after Inglewood. Purchase price to include reserve fund and light renovation budget to make it standout - rolled into mortgage. This is a turn-key deal. Excellent access downtown and in the highly rentable mature neighbourhood of Inglewood.
Comes complete with great tenants making this a totally turn-key property for you. Inglewood is a mature neighbourhood that is convenient for tenants working in downtown or NW Edmonton. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this property in relation to Edmonton’s growing centre and Misericordia Hospital.
Purchase price: $625,000
Total Investment: $171,000
Your Estimated 5 Year Profit $93,057
Your pre-tax Total ROI is 54% or 11% per year
These 6 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 food sector booming as oil sector finds its feet
By Todd Hirsch, Globe and Mail, September 8th., 2016
Still dazed by oil’s price collapse in 2014, Alberta’s economy is gradually finding its feet. All eyes have been fixed on the drama playing out in the oil patch, but all the while other sectors have been quietly developing new products and markets.
The biggest surprise has been Alberta’s burgeoning food sector. In an ironic twist that many didn’t see coming a decade ago, the province has returned to its original roots in agriculture – but this time it’s producing consumer food products for the 21st century and finding lucrative markets around the world. It’s not just for wheat, canola and cattle. It is for niche products such as organic honey, high-protein bison, award-winning gin, unprocessed cereal products and high-value greenhouse vegetables. READ MORE HERE
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Crude oil to carrots: Geothermal makeover eyed for Alberta’s old wells
By Reuters, August 9th, 2016
Disused oil and gas wells dotting Canada’s energy heartland may bear fruit for Alberta’s farmers under a proposal to use waste heat from the idle facilities to allow crops to grow, even in the country’s harsh winter conditions.
Provincial legislator Shaye Anderson wants the Alberta government to allow an old well to be converted to geothermal energy to heat an 8,000-square-foot greenhouse. Currently the wells can only be used for extracting hydrocarbons. GRAB THIS ARTICLE
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Cannon: Alberta First: Answering the global call-to-action on energy research
By Elizabeth Cannon & David H. Turpin, Calgary Herald, September 10th, 2016
Alberta and its universities are at a critical juncture. Alberta’s geography and history have made the energy industry a pillar of the province’s economy, and energy research and innovation a focus of its universities for decades. Researchers have been examining ways to discover, access and expand Alberta’s resources since the 1920s when Karl Clark patented a process for separating and recovering oil from the oilsands. In the last decade alone, more than 90 per cent of the world’s oilsands research publications have come from Canadian universities and research agencies, the majority from the University of Alberta and University of Calgary, with many of them resulting in major efficiencies and reductions to the environmental impacts of the industry. FOLLOW THIS STORY
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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.
“ Tough times never last, but tough people do.” - Robert H. Schuller
Warm Regards,
Todd and Danielle Millar
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