Sunday, July 31, 2011

FOMO - You really need to read this.

Alberta Oil Sands Investment Real Estate News®
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


August 1st., 2011
Volume 10, Issue 9

Dear Friends and Partners,

My buddy Greg texted me last Wednesday to see if I was in town so that we could meet for dinner. After a few messages back and forth I picked up the phone to continue the conversation and clarify our plans; so much can get missed in a text. I like meeting up with Greg whenever and wherever I can, he is always on the go. Earlier this year Greg took his design company public and has been the center of a media storm promoting his corporation and vision - He's a charismatic, busy and eligible bachelor too.

We met up at a local kid friendly cafe so that my wife and son could join in the conversation, Greg and Danielle have been friends for years, too. We listened to Greg's stories of how rival companies jetted him to NYC and London in hopes of courting a business deal or buyout. Greg also spent 1 month traveling around Buenos Aires, learning the 'true-tango'. We sipped our organic juices and then started hitting the espressos as the Latin American stories heated up.

It was a great visit and man, did we have a case of FOMO on the way home.... I know that my friend has a bit of FOMO too when he sees our family life, especially as he's stepping into his mid-40's. To be in absolute serenity may be to live in the now; be happily in the moment. But, it isn't always that way when you are constantly striving to be, do or have something more or better; be it spiritual or physical. Essentially FOMO is the modern version of keeping up with the Joneses, it is simply augmented, or even agitated, by technology.

You may not suffer from the Fear Of Missing Out, but like anyone at some point you may find yourself pining for a week (or a year) away on the desert island of your dreams. Every summer I like to take time off and focus away from my business and into the outdoors and family activities. I aim to incorporate that into everyday I have, but often don't. Enjoy YOUR summer and remember to take time off for you.

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West Central Edmonton: Cashflowing Three-Plex In Westmount

Turbo charge your portfolio. Upgraded 1948 built 3-plex with separate entrance to all units. 3 stylishly finished suites; One 2 bedroom unit on main, plus one upgraded 650 sqft. 2 bedroom suites down and a very cool 2 bedroom suite on the top floor. The upper suites have laminate, fresh paint and original hardwood. There is a common laundry room in basement. The lower unit has new paint, brand new tub and toilet as well. Lower suite walks out to a private grassy, fenced yard. There is a 2 car detached garage with brand new door and opener bringing in additional revenue. 10 minutes to NAIT, Grant MacEwan and Downtown. Fast access to Yellowhead Highway and on the bus routes. These pictures show the detail and care that went into building this quality home.

Comes complete with great tenants making this a totally turn-key property for you. Convenient Central area with easy access to transit and downtown. Excellent established neighborhood featuring many heritage homes; solid value and stable rents. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this home in relation to Edmonton's developing core.

Produces $440 positive cash flow per month using an investor's mortgage plan - taking advantage of current low rates.


Purchase price: $384K Total Investment: $115K. Your Estimated 5 Year Profit $56K. Your pre-tax Total ROI is 49% or 10% per year + $440 Cash Flow in Your Pocket Every Month

Poised for massive growth. These 3 suites rent for top dollar and have everything arranged, including financing structure and incredible tenants. Your investment includes: renovation costs, 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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Edmonton To Get 440 Affordable Housing Units

By Keith Gerian, Edmonton Journal. July 21st 2011

EDMONTON - Five Edmonton-area affordable housing projects moved closer to groundbreaking Thursday when the federal and provincial governments announced a joint $43-million investment toward construction costs.

The projects in Edmonton, Spruce Grove and Beaumont are expected to create 441 new apartment units offering rents below market value to low-income residents. FOLLOW THIS ARTICLE

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Canadian Oil; Ethical, and Sensible

By Jullien Russell Brunet, Glob and Mail. Tuesday July 19th, 2011

While the Canadian government worries about the country’s dependence on oil exports to the U.S., the security of future sales there and developing a national energy strategy, the Fraser Institute’s Mark Milke offers Americans a stark choice: It's us, or someone much more unsavoury. In short, a study released Tuesday by the Vancouver-based think tank argues that “attempts to restrict U.S. imports of Canadian oil ignore the reality of U.S. dependence on foreign oil and could force America to buy oil from repressive governments.”READ MORE HERE

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Economy Tops Agenda For Premiers' Meeting

By Jason Fekete, Calgary Herald. July 19th, 2011

EDMONTON - Ed Stelmach heads to Vancouver this week for his final Council of the Federation conference as Alberta premier, where he’ll join provincial and territorial leaders trumpeting cornerstones of his time in office: capitalizing on Canadian resources and tapping Asian markets. The economy in its many facets — jobs, investment and trade — is a top agenda item at the annual summer meeting of Canada’s 13 premiers, which runs Wednesday through Friday. GRAB 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.

"Even if you are on the right track, you'll get run over if you just sit there." -Will Rogers

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 blog at Edmonton Real Estate Investor for all your cutting edge market news and information.

P.P.S. Don’t forget to visit our website and take advantage of the Resource Tools and product section including REIN's #1 real estate books and Quick Start homestudy sets at a discount. Get your copy of the Canadian Success Stories book and the 2011 Top Ten Investment Towns of Alberta and Ontario.



Thursday, July 21, 2011

From Peter Kinch's Blog

"In this interview on the Fanny Kiefer Show, Peter Kinch and Don Campbell bust some common 'Myths' about Vancouver real estate prices, interest rates and real estate investing in general."
What's happening with rates?
Should I float or lock in?
Can I still buy affordable housing in Vancouver?

Here's the interview on last week's Studio 4 with Kinch and Campbell - dispelling myths and trying to make sense of this market... After the Jump!

Friday, July 15, 2011

Risky Renovations

Alberta Oil Sands Investment Real Estate News®
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 15th., 2011
Volume 10, Issue 8

Dear Friends and Partners,

Trust that you are keeping busy and taking advantage of the summer. We're knee-deep in drywall, asbestos and concrete for our Cornerstone suite renovation. You can follow the progress on Edmonton Investor blog spot.

CBC Radio Active had a snapshot interview that centered around the very good advice of not over-"renoing". One of the most common traps that home owners get into when renovating is the add on. We're much more likely to throw in all our wish list items during a renovation project and end up way over budget. It seems easier to get the work done on your bathroom when your kitchen is being ripped out. Logical or not, don't do it. Stick to your budget and factor in additional renovations for a later date.

Often during renovations you may uncover some fault that needs remedy and it is beneficial to have a cushion in your budget for the unexpected. For example, while tearing down the walls to build a kitchen in the basement suite we found a hairline crack in the parging. Not a big deal except that it was damp at the base with a slow seep of water coming in. The parging had been done about 20 years earlier and covered up a much larger crack in the concrete wall. Better to discover this now than after you have spent $35K building the basement suite.

I ended up repairing this crack myself for about $60 in materials and 4 hours labour. You can spend anywhere from $400-$1000 for an internal crack to be repaired and much more if you attack the job from on the outside (I did a combination of both). Unexpected jobs come up and can be costly; prepare as best you can in your budget. Resist the urge to over renovate, instead, work in stages.



West Central Edmonton: Cashflowing Six-Plex In Queen Mary Park

Turbo charge your portfolio. Upgraded 1978 built 6-plex with separate entrance to all units. 4 functionally finished 710 sqft. 1 bedrooms on main, plus 2 upgraded 650 sqft. 1 bedroom suites up. The upper suites have laminate and fresh paint. There is a common laundry room in basement. The lower units have new paint and some fixtures as well. Lower suites walk out to a private grassy, fenced yard. There is a 2 car detached garage bringing in additional revenue. 10 minutes to NAIT, Grant MacEwan and Downtown. Fast access to Yellowhead Highway and on the bus routes. These pictures show the detail and care that went into building this quality home.

Comes complete with great tenants making this a totally turn-key property for you. Convenient Central area with easy access to transit and downtown. Excellent transitional neighborhood with solid value and stable rents. HUGE upside potential due to the great purchase price, strong economic fundamentals and the proximity of this home in relation to Edmonton's developing core.

Produces $676 positive cash flow per month using an investor's mortgage plan - taking advantage of current low rates.


Purchase price: $525K Total Investment: $126K. Your Estimated 5 Year Profit $76K.Your pre-tax Total ROI is 60% or 12% per year + $676 Cash Flow in Your Pocket Every Month

Poised for massive growth. These 6 suites rent for top dollar and have everything arranged, including financing structure and incredible tenants. Your investment includes: renovation costs, 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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Job Gains In Alberta Top Numbers For Entire U.S.

Province Added 22,000 Jobs In June

By Kim Guttormson, Calgary Herald. July 9th 2011

Alberta's brisk employment growth continued in June as the province added 22,000 jobs, more than were created in the entire United States.
But with more people re-entering the job hunt and moving here in search of work, Alberta's unemployment rate actually climbed slightly, to 5.6 per cent.

"They're really strong," ATB Financial economist Dan Sumner said of the Statistics Canada job numbers released Friday. "It's a little bit surprising how strong."

The variety of jobs across a number of sectors also speaks to the health of the Alberta economy, he pointed out. FOLLOW THIS ARTICLE


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Husky Bets Big On Northern Canada Oil Drilling Rights

TEDx A Showcase of Edmonton Innovators

By Jeffrey Jones, Reuters July 5th 2011

CALGARY, Alberta, July 5 (Reuters) - Husky Energy Inc (HSE.TO) has opened its wallet to grab the lion's share of C$534 million ($556 million) of winning bids for oil-drilling rights in the central Mackenzie Valley area of Canada's far north, sparking speculation it may be chasing a rich prospect.

In the 2011 government auction of drilling rights in northern lands, Husky bid C$376 million for two parcels near Norman Wells in the Northwest Territories, vastly outspending some of the world's largest oil majors, the government announced on Monday. READ MORE HERE

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Energy Drives Alberta To #1 Growth

By Mario Toneguzzi, Calgary Herald July 7th, 2011


An improving energy sector will fuel economic growth in Alberta, which Scotia Economics predicts will be the strongest in the country this year and next.

In a report released Wednesday, the bank said real GDP growth in the province will be 4.2 per cent this year, the highest in the nation, followed by 3.3 per cent growth in 2012, which will tie Saskatchewan at No. 1.

Scotia Economics is forecasting Canadian economic growth of 2.7 per cent this year and 2.5 per cent in 2012. GRAB 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.

"The more chance there is of stubbing your toe, the more chance you have of stepping into success." -Author Unknown

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.

P.P.S. Don’t forget to visit our website and take advantage of the Resource Tools and product section including REIN's #1 real estate books and Quick Start homestudy sets at a discount. Get your copy of the Canadian Success Stories book and the 2011 Top Ten Investment Towns of Alberta and Ontario.


Thursday, July 07, 2011

Cornerstone Project - II

I'm continuing my Cornerstone Project basement suite development series. Please read the first post here.
In order to get funding for the Cornerstone Project you have to provide a series of documents. Most are relatively easy to get together but timing is crucial especially with the permit.

What you need:
1. Two itemized estimates of the total construction cost of the proposed suite - easy enough it would seem. If you have contractors you trust and use regularly have them come by and took a look. We actually had 8 contractors come through to get 2 quotes that ranged by about $15k. Make sure you get a lot of estimates so you have a good idea of what's out there and what is inline for costs.

2. Copy of Development Permit and Building Permit/ Electrical Permit - This one takes A LONG time. Think 4 to 8 weeks. If you think you'll get the suite up and be rented withing 6 weeks it's ambitious. The permit requires a lot of documents of it's own so prepare well, reserve a lot of time and plan for 2-month turnover before you can even start renos.

A) Development Permit and Building Permit for the City of Edmonton requirements:
i. Pictures from all angles of the property
ii. The Real Property Report - it must show 3 parking spots NOT including street parking (I know)
iii. A drawing of the space to be renovated including

-size and uses of all rooms
-locations of doorways
-floor to ceiling height
-direction the doors open
-window size and locations
-location of smoke alarms and carbon monoxide detectors in main suite, basement suite, furnace room and top of exit stairwell
-plumbing and electrical changes
-construction materials

There must also be a true to scale drawing of the main floor above the suite. Our contractor did a basic drawing and I finished off all the details. I'm pretty artistically challenged and my walls didn't line up but as long as you "do your best" they will accept it ~ within reason of course.

The permit cost a total of $724.88 $260 of that is basic fee for Secondary Suite built within and Existing House and the rest depends on the cost of your renos.

Electrical Permit - generally the contractor pulls this.

3. Copy of land title or a valid offer to purchase to confirm the ownership of the property - an accepted offer is great or if you've owned the property for a while get title from the Registry office.

4. Copy of a current property tax notice/assessment - we just squeaked by on this as the vendors had not paid any taxes for 2011. Taxes are due by June 30 of the tax year and our closing date was June 24th. We went down to city hall and paid the arrears of course funds were credited to us in the sale. Make sure your taxes are up to date.

5. Confirmation of project financing - simply a bank statement showing you have the funds.

If you take away anything from this it's give yourself enough time to get the permit.

Friday, July 01, 2011

Happy Canada Day!

Alberta Oilsands Real Estate Investment News ,Glenn Simon Inc., Suite 1217, 5328 Calgary Trail NW, Edmonton, AB Canada.
Tel 1-888-780-5940 Fax 1-888-276-4517
http://www.glennsimoninc.com/ email: info@glennsimoninc.com

July 1st, 2011 Volume 10 Issue 7

Dear Friends and Partners,

This newsletter is our compact holiday version. Please look for the full length issue on July 15, 2011.

It's a beatiful day in Edmonton. The sky is blue and sprawling as only the prairie sky can be. For the last ten years we celebrated Canada Day in a small park in Tokyo generally during rainy season. Eating hotdogs and cake with a smattering of ex-pats from across our country sharing funny stories of being the stranger in a strange land while rain poured down. Sounds dire but we never missed a single celebration.

Driving around Edmonton seeing the flags, all the celebrations and fireworks is a great reminder of why we got together every year with our fellow ex-pats. Being Canadian was our common denominator, although we spanned from British Columbia to P.E.I we were joined by the red maple leafs sewn on our packs or sometimes tattooed on limbs.

We raise a glass to all the ex-pats joined together wherever they are to celebrate being Canadian.

Click Here for Fun Facts about Canada!

I appreciate all your calls and emails. I'm looking forward to helping you with your next step to building real wealth.

Your success continues EVERYDAY, let me help you build for tomorrow.

"When one door closes another door opens; but we often look so long and so regretfully at the closed door, that we do not see the ones that open for us." Alexander Graham Bell 9th Greatest Canadian

Warm Regards,

Todd and Danielle Millar