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
July 15, 2017
Volume 22, Issue 12
Dear Friends and Partners,
Rate hikes may be the story this week, but it really should be a potential $20B oil project. Few other provinces (or countries) have a chance to deal with projects of this magnitude (story below).
While the rate increase affects more Canadian and grabs more attention it is a much lesser story. Premature as it is to increase rates, it is a modest climb at best and will not affect most Canadians negatively.
Central NW Edmonton: North Glenora, Conversion to 4 Unit - Cash flow
Turbo
charge your portfolio. Low risk investment in a great area that is
surrounded by terrific, sought after neighbourhoods. The intention is to
turn this semi-suited, duplex, bungalow into 4 separate suites.Zoned RF 4 and on the proposed LRT route, this is a great rental and long-term money maker. 8 minute drive to downtown 12 minutes to Royal Alex Hospital.
This property will undergo many upgrades including mechanical, addition of suite and full interior upgrading. After renos will offer 2 X 3 & 2 X 2 bedroom units. Separate laundry in suite.
1954 built, double detached garage, zoned RF4 and wide front yard. Terrific access to local amenities in sought after North Glenora. Purchase price to include major renovation budget to upgrade interior and exterior to make it standout - rolled into mortgage. This is a turn-key deal. Excellent access downtown and in this highly rent-able mature neighbourhood.
Comes complete with great tenants making this a totally turn-key property for you. North Glenora is a mature neighbourhood that is convenient for tenants working downtown or attending Grant MacEwan. 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.
Purchase price: $645,000
Total Investment: $147,900 plus $100,000 Purchase Plus Improvement
Your Estimated 5 Year Profit $98,743 or 67%
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!
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Yedlin: Alberta's economy heightens Bank of Canada challenge
Deborah Yedlin Calgary Herald July 13, 2017
"Unlike British Columbia, which is expected to lead economic growth for a third consecutive year in 2017, this province is still struggling to get on its collective feet.
The disparity vividly illustrates the challenges faced by the Bank of Canada in managing an economy that varies in strength and prospects from coast to coast.
While many forecasts have shown Alberta finally bouncing off the economic bottom — Royal Bank has predicted growth of 2.9 per cent in 2017 and 3.4 per cent next year — it’s not exactly cause for celebration, given how deep a hole the province is digging out from." READ MORE
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Fort McMurray welcomes $20B oilsands mine proposal, but not its plan to fly in workers
By David Thurton, CBC News Posted: Jun 28, 2017 5:00 AM MT
"A company's plan to construct a new $20.6-billion oilsands mine is being seen as a potential boost for Fort McMurray's ailing economy.
But even before the project gets the regulatory green light, there's concern the mine wouldn't rely on local labour."We certainly are in an economic circumstance that provides great concern," Mayor Melissa Blake " JUMP
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Ending the Alberta transfer gravy train would add new dimension to pipeline wars
Claudia Cattaneo: Westerners are sick and tired of transferring vast wealth to the rest of Canada, while having to fight to preserve the industry that fills Ottawa’s coffers
Claudia Cattaneo, Financial Post July 14, 2017
"The debate over pipelines has surfaced some ugly Alberta bashing in recent years, but a new counterpoint is getting increasing traction in the province — no pipelines, no Alberta gravy train to fund federal programs in the rest of the country.
Alberta opposition politicians like Brian Jean are all over this, and if members of his Wildrose Party and of the Progressive Conservatives vote to support a union July 22 to create the United Conservative Party, increasing their chances of unseating the NDP in the next provincial election, expect an escalation of demands to end what is seen as an unfair transfer of wealth from Alberta to the rest of the federation, particularly Quebec, without receiving corresponding benefits along with plenty of blame for oil and gas related environmental impacts.
Jean is seeking a meeting to discuss “equalization fairness” with Prime Minister Justin Trudeau during a visit to Calgary Saturday for the Stampede. He said in a statement the program has been “ripping off Albertans for years” and needs to be redone." READ MORE
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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.
“All some folks want is their fair share and yours.” - Arnold H. Glasow
Warm Regards,
Todd and Danielle Millar
