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  1. Michel Lafleur

    Duplex converted to a 4plex with all permits in place in Allendale (Edmonton)

    Exclusive investor opportunity! Full side by side duplex converted into 4 units of apartment dwellings (city approved, all permits in place.) Roughly 1080 ft2 per side with a double detached garage and ample parking (6 stalls, can add a 7th.) All 4 living units have 3 bedrooms, 1 bathroom, and...
  2. Michel Lafleur

    Commercial Development land in Edmonton

    Anyone looking for a larger plot of Development land in Edmonton? 1 parcel is ~2.42 Acres, zoned IM (medium Industrial Zone.) Right behind a Cineplex Odeon, off of 137 Ave & St. Albert Trail. Offered at $2.75M...
  3. Michel Lafleur

    100' wide lot in Glenora (Edmonton)

    Not on MLS - opportunity to purchase a 100' x 140' lot in Glenora (currently zoned RF1 - almost 14,000 ft2 !!!) Comes with a huge bungalow & rear detached garage that would easily rent as is for $2500+ /month while applying for permits & solidifying your construction plans. Its an end lot high...
  4. Michel Lafleur

    CAP rate and financing CAP rate difference

    Cap rates are easy to figure out; its a way of measuring a proeprty's performance as if you paid cash for it. Its annual net operating income/purchase price. Gross income = $64,440 Annual expenses = $27,166 Net operating income = $37,274/ year If purchase price = $850K, then cap = 4.4%...
  5. Michel Lafleur

    Foreclosure Process - From the Mortgagee Perspective

    I haven't done this personally. I would suggest contacting the lawyer you used to register that mortgage. They should be able to explain the foreclosure process. What province are you in? Does your mortgage have first priority, and are there any other liens on the title?
  6. Michel Lafleur

    Monthly Sell-Through rates/ absorption rates

    The land valuation model certainly has some merits; in the end real estate values certainly have more to do with the land than the structures on that land. If everyone bought just the land, demolished the house and built from scratch, then I think this would be a more pragmatic approach. I...
  7. Michel Lafleur

    Broker Commission

    Lots of good responses on here already. I work with Re/Max Real Estate in Edmonton. If you sign a contract with any Realtor, you are essentially signing a contract with that Realtor's brokerage. If something happens to your Realtor, you are still a contracted client of the brokerage. For...
  8. Michel Lafleur

    Edmonton staging

    I second All Decor - contact Gina or Kjartan
  9. Michel Lafleur

    Edmonton infill lots?

    Any infill builders looking for a lot to build on in Edmonton? I know of a few available. One 30' wide lot in Silver Berry for $110k (needs the house demolished still); city assessed at $305k. One 66' wide lot in Laurier (on 149 Street)- has been subdivided (2 titles), house was...
  10. Michel Lafleur

    Monthly Sell-Through rates/ absorption rates

    I honestly don't find absorption rate or flow through rates all that helpful per se. I wish it was more helpful as its a simple calculation to do for Realtors or anyone with access to the MLS sales data. My opinion is that this metric is highly correlated with the old real estate adage...
  11. Michel Lafleur

    Monthly Sell-Through rates/ absorption rates

    Looking at the month of May (2018) stats for Edmonton & area, there was a total inventory of 9859 residential listings. In May there were 4136 new listings, and 1776 residential sales. The absorption rate for May was roughly 18% (1776 sales out of 9859 listings.) The average (all residential)...
  12. Michel Lafleur

    Monthly Sell-Through rates/ absorption rates

    Sell-through rates are also known as absorption rates. Its an easy metric that's indicative of market health in a given area. Monthly absorption rates for a city are useless - for example: one can say that there are currently 10,000 listings on MLS for a given city. Last month there were 1,000...
  13. Michel Lafleur

    Making a legal suite

    To legalize an in-law suite may or may not be easy - depends on how long the suite has been in existence and the quality of the work that has been done already. If it was a suite prior to 2007, its easier to "grandfather" as they will hold you accountable to the old safety codes. If the suite...
  14. Michel Lafleur

    When a contract ends?

    I'd suggest getting a real estate lawyer involved, and have a conversation with the lender to see how this transpired. Is there a clause anywhere in the original contract that says it will continue past the original term until other arrangements are made?
  15. Michel Lafleur

    Best market in Canada

    Regarding the best market in Canada for investing, it depends what product you invest in. Commercial, industrial, residential, land development, etc., and whether you are a long term investor versus short-term (quicker cash) investor. I can only really speak about residential.... I havent done...
  16. Michel Lafleur

    LRT Quick Search Relaunching for Calgary and Edmonton

    In Edmonton, those maps are conveniently available to share with prospective investors and new buyers. As a Realtor, I certainly have searches setup for my preferred areas along the existing & new expansion LRT lines. I search by neighborhoods though, not just within 800m of an LRT station...
  17. Michel Lafleur

    young beginner real estate investor looking for advise

    To get started now that you are a REIN member, attend a few meetings and learn the basics. What city/area are you in? The ACRE events are a wealth of information - many people hit the ground running after their first ACRE. I believe the next ACRE is in Edmonton in October. Being several months...
  18. Michel Lafleur

    Kelowna rental?

    Iso a rental in downtown Kelowna starting in September. Ideally 2 years lease. Would like 1+den plus parking. Anyone have anything coming up?
  19. Michel Lafleur

    Pipes sticking up in the back yard?

    I'd guess one may have the city water shutoff, and the other could be a vent for an old plumbing system. If they are the same pipe in a straight line, they are likely for a clothesline.
  20. Michel Lafleur

    Discount Real Estate Brokers - Good or Bad?

    From my perspective (I am a Realtor with RE/MAX), I would list with the agent whose business is most aligned with your properties. If they are suited houses or something that is clearly an investment product, definitely work with an investor focused Realtor. If you have something that's more...