Edmonton Revenue Property Investors Association Message Board › Minutes of Oct 12, 2010 Edmonton Revenue Property Investors Assoc.
Sherwood Park, AB
Edmonton Revenue Property Investors Association Oct 2010
Our October12 monthly meeting was held at Rosie’s southside restaurant. Brent Davies introduced Les Michaelson, our president. Our landlord support group is a non profit organization. Those attending for the first time introduced themselves. Then there was a buy/sell opportunity for all. Most of those attending have one or more properties for sale.
Average "days on market" for single family dwellings is now 57 days. The Edmonton Realtors Association reports that there is a lack of activity. This situation will hold the housing market steady for now. We had two guest speakers.
Lara Nissen is a Realtor with realty executives. Her web site is www.LaraSells.com
Lara had handouts and explained the 10 essential steps required to efficiently purchase a home.
Katie O.Brien is a mortgage Advisor with AXIOM. Katie also had handouts and updated us on the current market conditions and the recent changes to Federal Mortgage Regulations. She explained the benefits of using a secured line of credit. It is very flexible and there are no penalties for prepayment.
A Question and Answer period followed our guest speaker’s presentations.
Les showed us many examples of apartment buildings for sale. He analyzed each one, with cap rate and other useful info needed to make an informed choice for a purchase.
Book draws completed the evening.
Authors Note: Anyone arriving with two real estate related books can pay their $10 entrance fee with books. The books are a great way to educate our members on the business of real estate and land lording.