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AUGUST 2006

 

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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 $5 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.  

Karen Michaelson is back from Europe revved up with lots of interesting stories about her travels!!

This month we have a special message from Revenue Canada

 " Tax Time" courtesy of Gail.


Our guest speakers this month will be:

Lyle Mortimer

Lyle is the licensed mortgage broker, and the General Manager of Stewart and Craig Financial Corporation of Edmonton AB, since 1992.  He has held directorships with four mortgage investment corporations.  Previously in his banking career of twenty years he held senior management positions in chartered banking and trust corporations, specializing in commercial and residential real estate lending for domestic and overseas clients. He is an honour graduate of the Urban Land Economics program at the University of British Columbia, majoring in Real Estate Investment Analysis.  He is a past president of the Mortgage Investment Association of British Columbia and has held the Education Director’s chair with the Alberta Mortgage Brokers Association.  He was an instructor for the Alberta Real Estate Association and the University of Alberta in Real Estate Finance and Mortgages and has been a guest lecturer for real estate investment groups in Alberta and British Columbia.  Lyle and his firm provide consulting and brokerage services for private and institutional clients.

Stewart and Craig Financial Corporation

102  4246-97 St

Edmonton Ab. T6E 5Z9

Voice 780-436-6244  Fax 780-438-0039


Nick Fournier:

--With Walton since Sept / 05

--18 years with ATB Financial (Alberta Treasury Branches)

--The last 4 years there as Branch Manager at Edmonton Terrace Plaza branch and Calgary Trail @ Whitemud Branch.

Walton International’s Mission Statement:

“To provide quality real estate based investment opportunities and products to our customers with integrity and professionalism.”

Company overview:

Walton has been in business for 27 years and is one of North America’s largest Land Banking companies. Walton is headquartered in Calgary and has offices throughout Canada, Asia and the U.S.

Walton focuses on the purchase of strategically located raw land in the path of development of major North American cities; driving the projects through the re-zoning process and then selling (exiting) to a developer.

Land banking has traditionally been “reserved” for large corporations or institutions; Walton’s business model is to bring Land Banking “to the masses”.

Ray Zadrey:

-With Total Financial Solutions since June / 05

-in process of attaining CFP [Certified Financial Planner] designation

“Practical Solutions that protect and grow your assets”

Company overview:

Total Financial Solutions has offices in Edmonton, Calgary and Red Deer.

Total Financial Solutions focuses on providing solutions to strategically manage risks that protect and grow assets.

 

Total Financial Solutions

11630 Kingsway Avenue

Edmonton , AB   T5G 0X5

Phone: (780) 780-669-7711

Fax: (780) 437-1144

 


           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. 


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Edmonton Revenue Property Investors Association      July 11, 2006 Minutes

The meeting opened with the treasurer’s report.

Les read an article from the Edmonton Sun, written by Kelly Kehan regarding the low Inventory of properties in this “Sellers Market”, which is driving up prices. Les says don’t get involved in multiple offers as you may end up paying too much.”

Calgary prices are up 50% in the past year. Edmonton is up substantially as well.

Our guest speaker was Linda Rasmussen of PPL Legal Care of Canada Corporation. She spoke on identity theft, the number one issue in the next 10 years. Only 5% of identity thieves are caught, and nothing can stop them.

Mortgage fraud, title fraud, debit card fraud and stolen mail are a growing problem. On the internet skimming, phishing and pharming, are also a big problem. PPL Legal Care will do account monitoring, credit reports, reimbursement and restoration for a set monthly fee, which includes a couple and their children.

Les is now getting 5000 hits per day on his Rentex Homes,com real estate website.

Some Calgary rents have tripled. We heard of one case where the rent increased from $650 per month to $2000.00 per month. ( ed. see article below). We have a low vacancy rate, so we can play “catch up” with rents in this market. Generally we follow Calgary by 6 months. Les is getting $600.00 for a bachelor suit and $730.00 for a one bedroom apartment. Les uses one year leases and then no notice is required for a rent increase.

The average is 20 days to sell homes. 8 out of 10 sales are multiple offers. Sellers are now waiting more than 24 hours for higher offers to come in.

July 6 MLS report: - It is a hot market here. Property sales are well above average. Sales are up 19% with decreasing inventory.

Advice – have your financing in place. Sellers want top dollar and buyers have to offer more to purchase a property.

K. Callfas

 


This months Real Estate News Articles And Links

 

Edmonton vacancy rate puts squeeze on renters
CBC.ca - Alberta, Canada
Edmonton's apartment vacancy rate has fallen from 4.5 per cent to 1.5 ... Commercial real estate company CB Richard Ellis surveyed over 30,000 apartments and found ...

Monthly payments jump nearly $1,000

... the rent for his Capitol Hill duplex unit will increase to $1,800 a month. Photograph by : Brett Beadle/Calgary Herald ... easing into the rent increase over a longer ...

Hot market shuts out new workers
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... shortage has pushed prices so high that people making $20 an hour cannot get a mortgage for an average house or condo, Edmonton Real Estate board president ...

Housing's so hot
Edmonton Sun - Alberta, Canada
... About the same time the Yanks were putting up the shutters, Edmonton Real Estate Board president Madeline Sarafinchan released her July stats. .

Investment niches attract growing interest
Business Edge - Calgary,Alberta,Canada
... Using figures from the Edmonton Real Estate Board, Uzelman predicts today's market hasn't reached its peak. Nor are today's price increases unprecedented. ...

Calgary house prices down slightly in June
CBC.ca - Alberta, Canada
... as the Calgary Real Estate Board tends to lump all of those sales together to get their average selling price.". Meanwhile, home inspectors in Edmonton say they ...

Resale of homes in major cities on pace to set a record this year ...
News1130 - Vancouver,British Columbia,Canada
The Canadian Real Estate Association says resales of homes by agents on the ... The association says record sales in Calgary and Edmonton remained the driving ...

A new flavour on The Avenue
Edmonton Journal (subscription) - Edmonton,Alberta,Canada
... With real estate and business costs escalating in Ontario, Somalis looked westward and found in Edmonton the right blend of economic opportunity and acceptance ...

Rent or buy? Debate simmers in hot housing market
Calgary Sun - Canada
... "If you buy today and, lo and behold, real estate values roll back, you're not going to look like such a great investment manager for a while.". ...

Ritchie moves into real estate auctions
Globe and Mail - Canada
... an auction in Edmonton, a 29-suite extended-stay Victoria motel will be among the offerings. "People see auctions as a new way the sell real estate,'' said Kim ...

House prices soaring high in Strathcona
Sherwood Park News - Sherwood Park,Alberta,Canada
... In June, the average price of a house in the Park was $350,000, according to the Edmonton Real Estate Board, which is a jump of almost $75,000 from last June ...

Home sales record
StarPhoenix - Saskatoon,Saskatchewan,Canada
... previous record set in the fi rst six months of 2005, the Canadian Real Estate Association said Monday. Surging activity in Calgary and Edmonton remains the ...

Calgary, Edmonton still leading housing boom
CTV.ca - Canada
... "It seems the country's economic and political shifts is certainly underway to the West -- Calgary and Edmonton seem the places to be," real estate lawyer Alan ...

Market remains steady
Daily Miner and News - Kenora,Ontario,Canada
... A Royal LePage Real Estate Services quarterly report released last week showed that the ... Edmonton, sharing Alberta’s oil boom with Cowtown, showed the second ...

Man arrested after dispute with landlord
Maple Ridge News - BC, Canada
A 38-year-old Maple Ridge man was arrested Sunday evening after a dispute with his landlord. According to Ridge Meadows RCMP, the ...

Wi-Fi for the Building? Depends on the Landlord
New York Times - United States
... Broad Street Development, the landlord, has been retrofitting the entire 653,000-square-foot office building for wireless Internet at the request of tenants. ...

Building tenants being forced out today
Finger Lakes Times - Geneva,NY,USA
GENEVA - Glorinette Mendez and her family had to go to her grandmother's house to shower today, because their landlord turned off the utilities in their 

Good News: Real Estate Speculative Bubble Popping
Conspiracy Planet - USA
by Al MARTIN. The air is being let out of the real estate bubble in Southern California. The National Association of Homebuilders ...

Investor Survey: In With Energy, Out With Real Estate
Financial-Planning.com - New York,NY,USA
Nearly 100% of investors plan to move assets into energy, while 64% say the real estate bubble has finally popped. By Marshall Eckblad. ...

In Israel, A Realtor Rescues Refugees
Israel News Agency - Ramat Gan,Israel
... "A landlord puts rent up half way through lease - if you're on a fixed term lease (eg, 12 months), they legally can't do this. Read your contract. ...

ABC, NBC Spin Strong Housing Numbers Negatively
Business Media Institute - Alexandria,VA,USA
'Nightly News' anchor calls housing market a bubble but a real estate economist featured in the story forecasted cooling beginning the year. By Ken Shepherd. ...


Emails and Letters

Hello, I was wondering how much it cost to join your Real Estate

Investment club? About how many members do you have that come to your

monthly meetings?

Thanks, Shara Uwazny

ROADS Real Estate Investments

www.ROADSinvestments.com


Hey Les,
 
 I am going to send you some general info about the company so that you have something to include in your newsletter for next month.  I have us scheduled to do the presentation @ 6:30 p.m. September the 12th at Rosie's Restaurant.
 
You may want to check out www.edgeworthproperties.com to do some research on the directors of the company.
 
Regards,
 
Damian 780.914.8935 

 

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Copyright -  Edmonton Revenue Property Investors Association 2006