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Edmonton Real Estate Investors Association Message Board › ERPIA meeting minutes- March 13, 2012

ERPIA meeting minutes- March 13, 2012

Kathy C.
KathyCallfas
Sherwood Park, AB
Post #: 29
Edmonton Revenue Property Investors Association – March 13, 2012 meeting minutes.
7:00 p.m. Meeting held upstairs in Rosie’s south side bar and grill. Jim Whitelaw opened the meeting with a welcome to our new president Brent Davies. Lillian presented a fine gift to our outgoing president Les for his many years of service as our knowledgeable and hardworking president. Brent suggested there are 5 ways to make money.
1) work and save your money.
2)invest your money
3)invest other peoples’ money
4)Business owner
5) Intellectual property.
Our first guest speaker was Peg Barcelo- Jackson owner of fluffmyhomestaging.ca Peg does home staging to bring out all the best features in your home. Her plan includes the following:
1) clean and declutter .
2) Make it bright – use higher wattage bulbs.
3)Staging for an open house and sale.
4) landscape
5) repair & upgrade electrical, plumbing etc. She also does color consultations. Neutral is best if you want to sell y our home.
New members introduced themselves . Brent reviewed the reasons people invest in Real Estate and went over the reasons others avoid it. The advantages of incorporating versus personal ownership were mentioned, as well as the Alberta Advantage, unique to Alberta. (It’s easy to walk away if necessary.)
Brents advice: Have a clear goal and get your partner/spouse on side. Communicate well – admit your mistakes and celebrate together. Be inventive to figure out where the financing will come from.
Get a good mortgage broker so you have a choice of several banks. Pick which neighbourhood you want to buy in, and decide if your property should be close to public transport. Jim gave us an update on interest rates and Alberta’s economic outlook. Average days on market is now 54.
Buy/sell opportunity and book draws completed the evening meeting.
Katherine Callfas
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