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
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September 6th., 2016
Volume 21, Issue 4
Dear Friends and Partners,
It’d be easy to bemoan the economy and you’d think I’m doing that with the selection of news picks below. But, in fact I’m not. If there is one thing about Albertans, it's their resilience. Through hardship and challenging financial times, strong businesses has been forged. Alberta will rise like a Phoenix from the fire… and for now it is tough. I’m hopeful that 2017 Q2 will start to show some stability. If oil improves, that will smooth out the ride. In the meantime you can see what the young ones are starting up...
Central NW Edmonton: Inglewood, 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 4,208 sqft, steps from Westmount mall and school.
Five minutes to Downtown, 4 minutes to Hospital, 15 to UOA all in trendy Inglewood. This is property has many recent upgrades and offers self contained units. 3 X 1 bedroom units, 2 X 2 BD and 1 bachelor suite. 1966 built, R7 zoned building. 6 Parking stalls and large lot.
Terrific access to local amenities in sought after Inglewood. 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 the highly rentable mature neighbourhood of Inglewood.
Comes complete with great tenants making this a totally turn-key property for you. Inglewood is a mature neighbourhood that is convenient for tenants working in downtown or NW Edmonton. 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 Misericordia Hospital.
Purchase price: $625,000
Total Investment: $171,000
Your Estimated 5 Year Profit $93,057
Your pre-tax Total ROI is 54% or 11% 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!
Has Alberta’s economy hit bottom?
By Andrea MacLean, CTV Calgary, August 22nd., 2016
After more than 100 years providing Calgary with western wear and surviving many recessions and depressions, a Calgary landmark is closing its doors. The current economic downturn has proven to be too tough to weather says Brian Guichon, owner of Riley & McCormick.
“Our customer base is the downtown people who wear the western lifestyle and there’s 20,000 fewer of them living and working downtown Calgary,” said Guichon. “You just look at the numbers – our sales are going down. It’ll be a few years before it comes back and can we wait that long?” READ MORE HERE
Alberta’s financial troubles deepen as deficit swells by $500M
Shrinking provincial economy to take biggest 2-year hit since the early 80’s
By Kim Trynacity, CBC News, August 23rd, 2016
Alberta's already record deficit is projected to grow by more than $500 million, due mainly to the financial impact of the May wildfires in Fort McMurray, according to the province's latest quarterly update.
The latest fiscal update, delivered Tuesday by Finance Minister Joe Ceci, cites the wildfires as the main factor pushing the deficit $527 million higher to $10.9 billion. GRAB THIS ARTICLE
More economic woe for Alberta as housing investments drop by a third
By Emma Graney, Edmonton Journal, August 22nd, 2016
Investment in Alberta’s housing markets has nosedived, another sign of the province’s shuddering economy.
Statistics Canada numbers released Monday show investment in housing construction in Alberta has dropped 30 per cent since June 2015, to $641 million from close to a billion dollars.
That’s the biggest drop of any province. Only Nunavut’s housing market took a bigger hit.
Alberta’s bucked the national trend, which saw an 8.7-per -cent increase year over year, to $4.4 billion in June. FOLLOW THIS STORY
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Alberta Oil Sands Investment Real Estate News®