Edmonton Real Estate Investors Association Message Board › September 14, 2010 minutes
Sherwood Park, AB
Edmonton Revenue Property Investors Association – September14, 2010 minutes.
Brent Davies introduced himself and explained his bi weekly Discovery tours. They allow new investors to check out properties listed for sale. The next one will be held on Sept 27 and he will be showing 20 suite apartments.
Then Brent introduced Les Michaelson, our president.
On Tuesday September 28 at the Mayfield Trade center there will be a “Suites and Homes Trade Show.” Address: 16615 109 Ave, Edmonton, AB. Presentations by the Edmonton Apartment Assoc. and the Realtors Assoc. & Sponsored by All-Banners Realty. This is a free event.
The prime rate has increased and most mortgages rates are flat.
Our guest speaker was Johnson Frais. He talked on the various opportunities in owning self storage facilities. His talk was titled “Creating cash flow with self storage facilities”. His research shows that one in ten families in the USA use Self Storage. There is more demand with time. There are many types. Some add mail boxes or a retail outlet selling boxes and supplies needed to move.
They should be located in a very visible location as the most effective ads are drive-by locations visible from a highway. Newer facilities have 24 hour access and electronic gates for security. Some have RV and boat storage as well. Some units are climate controlled. Do your research before deciding to buy or build such a facility.
Les reviewed apartment buildings that are listed for sale, and all the current stats for the real estate market. Average days on market have increased three days to 57 days. Les feels we need the price of oil to rise which would create more jobs. Then the demand for homes would increase. At present we have an oversupply of inventory.
Les reminded everyone that we are a non profit organization.
Book draws completed the evening.