Edmonton Real Estate Investors Association Message Board › ERPIA 10 July 2012 minutes
Sherwood Park, AB
Edmonton Revenue Properties Investors Association - July 10, 2012
Brent Davies opened the meeting at 7 p.m. Brent explained the new changes to the CMHC rules. He expects starts will slow down. There will be no change for investors. Hardest hit will be the rent to own applicants.
Our first guest speaker was Paul Dolynny of HouseMaster. His website is www.edmonton. housemaster.com. His company is certified , insured and bonded to perform home inspections. The report will be a comprehensive one about 50 or 60 pages. A buyer can order a home inspection or a seller can order a pre seller report. You should attend the inspection and ask questions.
New members introduced themselves. This was followed by an economic update. Job growth has slowed in Edmonton , but building permits were up in May.
Our second guest speaker was Jason Delaney, the broker owner of Davies Management & Realty. Jason did a numbers comparison of input costs, maintenance costs, tenant turnovers, vacancies and cash flows for both Townhouse units and newer apartment condos over an eighteen month period. Some of the results are as follows:
1) vacancy loss & maintenance costs are much lower in Apartments.
2)turnover costs are much lower in Apartments.
3) cash flow is somewhat higher in the townhouse.
Our Buy/Sell info exchange and book draws completed the evening.