Welcome to the Edmonton Revenue
Property Investors Monthly Newsletter
It's
time again and the
monthly association meeting of our group has arrived. For
those of you new to this e-mailing here are the particulars.
Once
a month on the second Tuesday of each month a
like-minded group of real estate investors meet on the
second floor at Rosie’s Restaurant. Located at the corner
of 105 St. and 80 Ave. Arrivals at 6:30 and the
meeting starts at 7:00 pm. You are cordially being invited to
attend. Attendees are required to pay
$10 at the door. There is no annual membership charge yet. All
attendees and visitors are asked to buy $5 worth
of food to support the use of Rosie’s Restaurant
2nd floor meeting room, and please generously tip your
server, this helps to support our free use of the meeting
room. Please
bring a few of your used real estate or self help books that
you no longer require to donate to our library or door
prizes. If you park to the east of Rosie’s in the strip mall
parking lot, please pick up a free parking pass from the bar
to put on your windshield.
Each meeting is different as we may bring in special
guest speakers for each meeting. Each speaker is uniquely
qualified in his or her own specific field of expertise.
Even a seasoned investor will be pleasantly surprised with
the knowledge gained from attending our meetings. We
encourage all attendees to participate at the meetings by
asking our speakers your pertinent questions. We need and
appreciate your input at all meetings. Like-minded investors
can and do learn and help each other to achieve success.
We really do look forward to seeing you and please bring a friend to our
next meeting. If you have a friend that you feel would
like to be put on our e-mail list send their e-mail to me.
Our guest speaker
this month will be:
Elane
Feser and Mike Howes
Restoration Specialists
DKC - BAC Sparklean
Group Ltd. 5 Rayborn Cres. St. Albert, Alberta Phone:
780-459-4539 Email: mike@dkcsparklean.com Website: www.dkcsparklean.com
We will also be talking about the real estate market, landlording,
present housing prices and trends for Edmonton real estate, and
many more topics. If you have any real estate for rent or
for sale please make up some hand outs to give to any
attendees and be prepared to stand up and tell us about your
handouts. Please network and socialize with the other
members and guests before and after the meeting. If you want
to list your for rent or for
sale real estate online please visit Rentex
Homes and Buy
Sell Rent Ads ...register and post your properties. Please visit
our approved contractors site
Bookmark this list as it is not easy to navigate to it from our
home page. If you know good contractors email me and I will
add them to the site. I am still looking for good
south side apartment and commercial buildings, if you hear
of any please contact me ASAP!!
If you have any questions at all please e-mail me at admin@rentexhomes.com
or call me at 780-433-1481 regarding any of the above.
See you all at the next meeting,
Your cordial President, Les
Michaelson
About the
Author: Les Michaelson has been an Edmonton Real
investor since 1978. His interests are in the hands on
operation of acquiring managing and selling of revenue
properties of all types.
HIGHLIGHTS
FROM OUR LAST MEETING
Edmonton
Revenue Property Investors Association
March
11, 2008 Minutes
Karen
opened the meeting at 7:10
p.m. Karen recommends Lavender Contracting for sewer line
replacement jobs.. Les had our new guests introduce them
selves. Les attended the Edmonton Real Estate Board trade
show this month. Les has a history of Real Estate info
on this website, as well as previously published articles,
and newsletters.
After
the Buy/Sell, Les told us a story of difficult rental
market, when he rented his fully furnished apartment to a
club and it was occupied by a different band each month. He
had a pay phone installed. One needs to be creative to
manage well in the most challenging times. That is, those
times with very high vacancy rates. Our first guest speaker
was Terry Eliuk of Basement Systems. He started his business
in 1987, and has expanded across Canada,
the USA and the UK. They are experts in fixing wet
basements. You can find out more from their website, www.basementsystems.com.
Our
second guest speaker was John Su on 50/50 partnership
ventures. The tenant gets home ownership and the investor
gets maximum leverage.
Les
told us about his virtual real estate investments. He buys
and registers domain names and gets monthly checks from
Google Parked.com Trafficz, Clickbank, LinkWorth, Ad Brite
Commission Junction, EBay, Amazon and many more internet
companies. A couple of examples are www.GoingToHawaii.com
and www.FixMyCreditCheap.com
. He makes money with every click. He also has partners
wanting exposure to their mortgage business. This is a great
way to get passive income. He owns over 350 domain names.
For more information on making money with virtual real
estate Click
Here!
Our
third guest speaker was Martin Blair of CIBC.
Les
explained the advantages of financing using a mortgage
broker or private money. Les advice, “don’t be over-
extended, banks can call their loans in at anytime.
Ken
Chen, our resident economist updated us on the state of the USA
and Canadian economies.
USA
inflation is expected to rise to between 15 and 20 %. Our
dollar is equal to the US Dollar. As the money supply goes
up, the Real estate prices will also rise as real estate is
inelastic, (limited supply), and the affordability will
decrease.
Les
finished up with the current market update. He suggests that
Commercial Real Estate is a better buy right now. The
tenants, with triple net leases pay for everything and the
leases are long term. These are easier to manage and have a
positive cash flow and cap appreciation. Expenses are passed
along.
Rentex
now has free postings, for your ”for sale and for rent”
ads.
The
evening concluded with door prizes.
Katherine
Callfas
This months Real Estate News Articles
And Links
Cozy one-bedroom: Real estate agent
Gordon Blausten shows off a London flat that may be the
smallest apartment in the world. Its 62 square feet
squeezes in a kitchenette, bath and wardrobe. The bed is
on a raised platform accessed by a ladder. The rent?
Only $247 a week.
source
Latest
Edmonton Realtors Association Report
At the end of March, there were 9,464
residential properties available in the Edmonton area.
That is up 1,220 properties from February and up 268%
from a year ago. With the high inventory, demand was
strong with residential sales near traditional volumes.
There were 1,557 residential properties sold in March
with new listings of 4,236 for a sales-to-listing ratio
of 37%. Days-on-market dropped one day to 51 as compared
to last month.
Single family home prices rose for
the second month in a row to an average* sale price of
$387,632 in March. After two months of price increases
condo prices dropped back slightly (-0.48%) to $263,023
and duplex and rowhouse prices ($308,908) recovered from
a five month slide to increase 4.8% over the previous
month. The average residential price (which includes SFD,
condo, duplex, mobile homes and other types of
residential property) was up another 1.6% to $343,760.
The average residential price is 5.66% higher than March
2007.
News
In Brief
See Magazine -
Edmonton,AB,Canada
A couple months ago, a CMHC report that showed rental
vacancies in Edmonton had increased 0.3 per cent
fueled talk that the rental market was beginning
to ...
First
Industrial Realty Trust Completes Initial Acquisition in
...
CNW Telbec
(Communiqués de presse) - Montréal,Québec,Canada
"Demand for industrial real estate continues to be
strong in the Edmonton market, and we are pleased
to acquire this ideally-located site for development to ...
'Block
busting' breaking up neighborhoods
United Press
International - USA
"This is a real issue," Edmonton police
official Ryan Lawley said. The newspaper said it works
this way: A real estate speculator will buy a house then
rent ...
Renter
1, Landlord 0
Santa Fe Reporter
- Santa Fe,NM,USA
She has reason to smile; on March 19, a jury found her landlords
guilty of breaching the Uniform Owner Resident Relations
Act in bad faith, ...
Landlord
says rent dispute speaks to larger issue
Sturgis Journal -
Sturgis,MI,USA
BY TERRY KATZ BURR OAK - A Burr Oak landlord who
was upset by a former tenant who owes him $2360 for back
rent took his complaint to the streets this week. ...
Tenant
may resolve 'failure to fix' eviction
New Zealand Herald
- New Zealand
Yesterday, my landlord arrived at my premises and
told me that my lease has been cancelled for my failure
to make good the damage by the date specified in ...
MAX
EQUITY ROUNDTABLE SUGGESTS POSSIBLE “NEW REAL
ESTATE BUBBLE ...
dBusinessNews St.
Louis (press release) - St. Louis,MO,USA
Is a new real estate bubble forming? Executives
at RE/MAX equity group think so. Gary Taylor, principal
broker at the firm’s Sunset Corridor office and head ...
ROUND
TABLE: Not all is dark with housing
Colorado Springs
Gazette - Colorado Springs,CO,USA
They have been talking about the real estate bubble
on Moneytalk and all these TV shows for over a year. And
they've been talking about it's coming, ...
What's
Going on With Toronto's Real Estate Market?
Move Smartly -
Toronto,ON,Canada
While the Toronto Real Estate Board announced a
startling 22% drop in sales in March, RBC Chief
Economist Craig Wright tells us that Ontario is on the
brink ...
Washington's
reform proposals and Fed's response to Bear Stearns
HULIQ -
Hickory,NC,USA
But to quickly recap: There was no move to raise margin
requirements during the tech stock bubble. And as
the housing bubble expanded, Fed policymakers ...
Thanks for
reading our entire newsletter...see you at our next meeting!!!
Copyright
- Edmonton Revenue Property Investors Association 2008
