7 Habits of Effective Real Estate Investors & Tips for Renewing Your Lease

Market Update
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Industrial leasing sector recovering
Calgary Herald May 12, 2010

There are signs within the leasing sector of a recovery in the Calgary industrial market, says a report released Tuesday by Avison Young.

The commercial real estate firm said vacancy in the industrial real estate market was 9.7 per cent in the first quarter of this year, down from 11.2 per cent at the end of 2009 but up from 9.3 per cent a year ago.

Vacancy has hovered between nine per cent and 11 per cent for the past five quarters.

"This most recent decline, while not enough of a trend to declare the worst of the fallout from the economic downturn over, is believed to be an indicator of more positives to come," said the report.

Richard Pootmans, senior business development manager for real estate for Calgary Economic Development, said there is a new balance in the industrial market emerging.

"We welcome this relative stability in our Calgary real estate market," said Pootmans, adding that new balance refers to the lease rates, inventory levels and vacancy levels.

The fact that speculative construction is even being discussed at this stage is "encouraging," Pootmans said.

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© Copyright (c) The Calgary Herald

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Seven Habits of Highly Effective Real Estate Investors

by Julie Broad

Recently my friend Mike wrote me and said "I reread the 7 Habits of Highly Effective People over the weekend. It won't be the last time I read that book this year". It's pretty rare he comments on a book so I pulled it out and gave it another viewing. My 1989 copy is so old the pages are yellowing and the text is faded. I guess you could say it was like buried treasure in my book shelf.

As I flipped through it and soaked in some of the long forgotten golden nuggets the book contains, I pondered what the seven habits of a highly effective real estate investor would be. It occurs to me that none of the habits of a real estate investor are particularly extraordinary. In other words - anyone could be a highly effective real estate investor if they wanted to be. Of course, this is only my opinion, and without scientific study. But check out my thoughts and feel free to send me yours.

Habit One: Know Your Goals
"If you do not change direction, you may end up where you are heading." - Lao Tzu

Habit Two: Make Your Money when you Buy
"Price is what you pay. Value is what you get." - Warren Buffett

Habit Three: Hire Help

Habit Four: Use Just the Right Amount of Leverage
"A bank is a place that will lend you money if you can prove that you don't need it." - Bob Hope (Read next month's newsletter when we respond to a reader regarding 100% leverage!)

Habit Five: Find Good Partners
"Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great." - Mark Twain

Habit Six: Be persistent
"Genius is one percent inspiration and ninety-nine percent perspiration." -Thomas Edison

Habit Seven: Research - Always be learning
"I am always ready to learn although I do not always like being taught." -Winston Churchill

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