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
December 1st., 2016
Volume 21, Issue 10
Dear Friends and Partners,
Here we are at the end of another year. 2016 has been everything but uneventful across all fronts and around the world. We’re far from smooth sailings with our local economy, but I think we are at least heading into calmer waters or getting those sea legs steady. I don’t think 2017 will be a banner year, but hopefully stability will increase with the energy sector. Although we are seeing some worrying signals and directional shifts from the federal government related to CMHC (check out Peter Kinch’s link here), plus populist environmental and trade agendas. Nonetheless - we will push forward. We will have a good year ahead! Opportunity is abound!
*This is our last newsletter for 2016, but the blog is continually updated. Regular newsletters resume January 15th 2017*
Wishing you and your family a very wonderful December and New Year ahead!
South Central Edmonton: Queen Alexandra, 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 5,600 sqft, steps from trendy Whyte Ave. and across the road from school. 5 minutes to U.O.A., 6 minutes to Hospital, 10 to downtown.This is property has many recent upgrades and offers a self contained basement unit. 3 X 1 bedroom units with balcony, 3 X bachelor suites. 1916 built, RF3 zoned building. 6 Parking stalls and single garage. Terrific access to local amenities in sought after Queen Alexandra.
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 this highly rent-able mature U.O.A. neighbourhood.
Comes complete with great tenants making this a totally turn-key property for you. Queen Alexandra is a mature neighbourhood that is convenient for tenants working downtown or attending UOA. 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 University Hospital.
Purchase price: $628,000
Total Investment: $179,000
Your Estimated 5 Year Profit $91,846
Your pre-tax Total ROI is 51% or 10% 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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Why Alberta still has the highest employment rate in the country, despite all the job losses.
Young population and older adults who continue to work to keep the province’s economy resilient, economist says
By Robson Fletcher, CBC News, November 7th., 2016
Alberta has seen tens of thousands of layoffs in the past couple of years but its employment rate — a measure of working-age people who have jobs — remains the highest in the country.
That seemingly contradictory situation is due to Alberta's relatively young population and the fact that older people in this province tend to keep working longer than other Canadians.
It also means Alberta's economy is relatively resilient, said University of Calgary economist Trevor Tombe. READ MORE HERE
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Debt-ridden Alberta should take a lesson from thrifty Texas on how to survive the oil boom and bust: report
By Geoffrey Morgan, Financial Post, November 17th, 2016
CALGARY — While Alberta and Texas both enjoyed 10-year economic booms thanks to high oil prices, the province’s “undisciplined” budgets during those years left it in a worse financial position than the state when crude tanked.
In a study titled “One Energy Boom, Two Approaches,” the Fraser Institute compared the budgets and spending patterns of governments in Alberta and Texas between 2004 and 2014.
GRAB THIS ARTICLE
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Opinion: Alberta’s economy may be poised for a turnaround, but province’s finances still on wrong track
By Steve La Fleur & Ben Eisen, Edmonton Journal, November 21st., 2016
Albertans got some welcome news recently, when ATB Financial suggested that the worst of the oil price downturn is over and that oil prices would continue to increase in 2017.
This is, of course, encouraging for Alberta’s economic outlook. However, it’s important to recognize that while an increase in oil prices, and a return to economic growth, would help Albertans suffering from the province’s current economic malaise, it’s unlikely to solve the provincial government’s budget problems.
Specifically, unless the province reforms and reduces provincial spending, Alberta’s big deficits will likely persist for years — even if oil prices increase. 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.
“There is no decision that we can make that doesn’t come without some kind of balance or sacrifice.” -Simon Sinek
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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