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Nanaimo Real Estate Investors Club NewsletterDecember 2009
RE NEWS
Nisga'a take leap into economics of real estate

Canadian homeowners feeling bigger pinch
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Layth Matthews
layth@ratemisers.ca
250-591-3333
Rate Miser Logo for NREIC
NREIC Next Meeting
Tuesday
February 4, 2010

Ideas for speakers?

Let me know!

250-588-3396
Hi folks!

Rain, rain, go away, please come back another day, at least until we get the flood in one of our crawl-spaces emptied and fixed.

I was able to put a new tarp on our leaky-roofed garage on Friday. What a beautiful day! Jason at 4-Winds roofing is backed up with more jobs than he can handle and his tarp turned itself into a pile of blue threads. My tenant is getting grouchy about the drips.

This old house we live in had it's little leak in the roof fixed 2 weeks ago. A new roof is $7,000 and as investors we can see that's not a good expenditure right now. Paul came out and fixed it (in the rain!) pretty quickly. $200 now and again (ceiling is some kinda concrete plaster and so shrugs off the water) is the way to go for this property.

I'm finally beginning to question the use of my time to crawl down, climb up, hammer, pump, patch, clean, etc. I'll be calling our next speaker, Dale Schuss of Randall North Real Estate Services, soon to negotiate him taking care of all that stuff. He's been doing property management in one form or another for a long while and has started his own company. He spoke in Victoria a few months ago. I was impressed with his transparency and flexibility plus he's a nice guy. Tues Dec 1 pm is the time to hear his message.

The economists weigh in a couple of the news article to the left. Does anyone understand what they're talking about? Is their message useful to RE investors? If you've figured out how to use their overly-complex conclusions let me know.

Take Care,

Gord Knox
 
Tuesday December 1, 2009 Meeting
This month we will have Dale Schuss from Randall North Real Estate Services..

After two years at Langara College in Vancouver, Dale became a stockbroker in 1989. A year later, Dale switched his career path to real estate and has never looked back. The next eleven years were spent in property management and after that, six years in facility and asset management.

In starting Randall North in the summer of 2008, Dale was certain that the future was in client focused service delivery.

Randall North has two offices in British Columbia and 33 (and counting) properties under management. Randall North focuses solely on investors only - Randall North does not manage strata/condominium buildings.

Dale will give us the professional property manager's viewpoint on hiring someone to deal with tenant and property issues. Topics will be:

* Why Investors Self-Manage
* Third Party Property Managemant - Beginnings
* Development of the Property Management Industry
* The Mature Industry - 3rd Party Property Management
* Property Management Now

Beban Park Rec. Centre
2300 Bowen Road
Room 8 (right off the breezeway)
$10 at the door
 
APARTMENT REAL ESTATE INVESTING

By Troy Pryczek

Real estate investing has many opportunities, even in a depressed economy. Many new investors automatically look into the prospects of buying single family homes or land and completely miss the very lucrative apartment building market. Most find themselves intimidated by the prospects though as the details of buying and apartment building are very different than they are with a home or piece of land. Single family homes, comparatively low cost, and apartment buildings are a much heavier investment. Selecting the right apartment building can also be a daunting prospect and the thought of maybe becoming a landlord can be distressing.

There is a fundamental difference however between the two. When you buy and sell a house or piece of land, your profit on that deal is a one time thing and you will have to go look for more deals to continue to make money. With an apartment building, once the deal is closed and your building is occupied, the money comes in on a regular basis for as long as you own the property. If you have no interest in the day to day operation of your property it is simple to turn it over to a management company and let them do the work will you reap the profits.

Here are a few hints and tips that will help you get one step ahead if you do decide to invest in an apartment building.

· First, determine the value of the building by either subtracting the yearly maintenance/upkeep/taxes, and other fees from the yearly rents. This will give you a good estimated value of the property.

· Unless you have a pile to invest you are probably going to need some form of financing. A good credit score will help you get a bank or finance company loan. If you are seeing more than 75% of net operating income per month in rents, you shouldn't have any problem. Private money is also an option and is usually a much easier process than traditional sources.

· Never close any deal unless you have all the numbers. Having good information on the costs of running the building as contrasted against potential profits will allow you to make sound decisions.

· Any property that you are considering should be assessed by a professional building or general contractor. You will have to clean up the building and get it ready for leasing and you will need to know the cost of the repairs and remodeling to factor it into your profit analysis.

Investing in an apartment building can be much more complex than investing in single family homes but the risk is not proportionally larger and the money will continue to come in long after you have spent the money you would have made with a single family home sale.

To learn more about Investing Online and Affiliate Marketing   Click Here. Or to see how Troy Pryczek can mentor you to make money online, and to claim you're FREE! Internet marketing Boot Camp visit http://www.NewOnlineInvesting.com

Article Source: http://EzineArticles.com/?expert=Troy_Pryczek http://EzineArticles.com/?Apartment-Real-Estate-Investing&id=3322044