Edmonton Real Estate Investors Association Message Board › ERPIA Meeting Minutes - April 8, 2012
Jim Whitelaw, our Vice President, opened the meeting at 7:00 p.m. upstairs at Rosie's Bar & Grill on the south side. Jim commended everyone present for coming out on such a fine evening to educate themselves about real estate. Jim introduce our President, Brent Davis.
Brent stated that he is a commercial realtor with ReMax and asked how many other realtors were present. Several hands were raised. Next, Brent stated that CMHC reported that housing starts in Edmonton were up 27.6% in April from last year. Builders broke ground on 313 singles family starts in April, an increase of 9%. Multi-family starts rose 47%. Brent also mentioned that two rental apartment projects also started. Brent then introduced our first guest speaker, Chris Bradnam, from Credit Info Canada.
Chris inform us that his company does credit screening, small claimes and judgement enforcement recovery. He uses Facebook and an applicants email address to gather information. Chris specializes in residential tenancy evictions and collections. Chris charges a 40-50% commission on collections. In Alberta, there were 15,000 evictions in 2010. Chris also informed us that you send a debt to collections after 90 days. The average collection is $3,000 to $5,000 and judgements are good for 10 years. Chris uses three criteria for tenant screening, strength, stability & sensibility. Do the tenants have financial strength, job and career stability and are they sensible with their purchases and life choices. Chris recommends that on a rental application, you get the tenants next of kin, date of birth and SIN number. Chris has a database of bad tenants that he reviews. His company's webiste is www.creditinfocanada.ca.
Our second speaker was member Brando Rolheiser. He is a realtor with Sterling Real Estate. Brandon has been a real estate investor for 10 years and a realtor for 8 years. Brandon had 11 rentals and is now down to 6 rentals. Brandon's topic was on marketing ideas to make your business successful. His website on Houses for Sale in Edmonton was number 1 for awhile. He has done 15 sales so far this year resulting in $75,000. he has completed 2 house flips and his goal is to earn $200,000 by the year end. Brandon says that it was a matter of changing his attitude. If you want more, you have to do more. He suggest you network, print a newsletter or take people for lunch. You should analyze, delegate and declutter your mind. He also suggested to have a clean work environment and take action. Brandon would like more builder and investor clients. His email is Brandon@PremierTeam.ca should you want to contact him.
Jim Whitelaw gave a brief real estate update. He also informed us that Alberta leads the nation in job growth. Employment is up 3.9% over the last 12 months, with 10,000 new business incorporations. Edmonton MLS listings are up 3250 for April, bringing the total to 7330 listings. Average days on the market is 50 and sales are up 5.4% from 2011.
Book draws completed the evening,