Edmonton Real Estate Investors Association Message Board › ERPIA Minutes - May 14, 2013

ERPIA Minutes - May 14, 2013

Lona C.
user 11437267
Edmonton, AB
Post #: 4
Brent Davies, President, opened the meeting at 7 pm at Rosie’s Restaurant. 23 people were in attendance for the meeting. Brent introduced the first two speakers of the evening from the Homeless to Home Program, Bissell Centre, Matt Ashdown and Scott Kratchmer. The vision of the Bissell Centre is to eliminate poverty in the community. There are numerous programs and services: intake/reception, vouchers, child & family services, day care centre, essential community support services, mental health, drop-in, adult support, fetal/alcohol, homeless for homes, employment services & Job First, recreational wellness, thrift shop, 24/7 mobile assistance, inner city victim services. Government implemented Homeless for Homes program in 2008. Edmonton joined the program in 2009. Seven cities split up the budget with funding from the Gov't of Alberta Human Services. Homelessness was costing taxpayers $6.65B overall. The H2H program has had 80% success factor ratio. They have housed 2000 people since inception. H2H program is working with landlords to house homeless people. Rent is paid on behalf of their clients, they help them with viewing a unit, sign lease with them, they support the clients with paying bills on time and being a good tenant. Transition can take up to 1 year and most reach full independence. If any issues with tenants and landlords, H2H act as intermediaries.

Brent mentioned that the CRA is going after the condo flippers to see if they have been claiming gains on their taxes. Brent also spoke of a couple of venture companies that purchased land in the Ellerslie Road and 50 street areas that tripled their money and now the courts are looking into fraud charges.

Nadine Litwin was the next speaker, with the CIBC as a mortgage specialist. CIBC offers many types of mortgages some with cashback options. Mortgages are prime + 1%. 5 year posted 5.14%.

5 Minute drill - The vacancy rates are dropping and many landlords are increasing rents $30-$40.

Several names were drawn for the book draw and the meeting concluded approximately 8:45 pm.

Lona Chow
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