GRANDE PRAIRIE: New in-depth research report

DrewBetts

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Sep 15, 2007
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#1
Hi folks!

We complete an annual report on Grande Prairie, Alberta. Data on this area can be quite difficult to find, so we dig and gather data from sources all over the place (including, of course, the REIN team!). The link below is to this year`s report, which we`ve just finished. It contains a variety of current data on what`s happening from a real estate perspective in the city. Feel free to download and use this report. We find it`s especially valuable when speaking with bankers these days as well as joint venture partners. Enjoy!

http://www.evolveinvestmentgroup.com/downl...ortunity-report
 

MonteDobson

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#2
Excellent information Drew! This is outstanding.

Have you seen any updates to CMHC`s growth forecasts for 2009? Last I read it was around 3-4%...is this still accurate?
 

DrewBetts

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#3
QUOTE (C2Ventures @ Oct 17 2008, 11:51 AM) Excellent information Drew! This is outstanding.

Have you seen any updates to CMHC`s growth forecasts for 2009? Last I read it was around 3-4%...is this still accurate?
Thanks! CMHC has had a poor track record of forecasting in Grande Prairie, unfortunately. The market there changes so fast that their reports are usually using obsolete data. I can only call it how I see it at the current moment and right now, there looks like there will be another housing shortage. I`m still waiting on updated housing start information from April to now from the Economic Development Office and will update the report when I have it. I`ll also be keeping tabs on the MLS data every month to map out the trends. Forecasting models for growth use net-inmigration numbers heavily. This is the one piece to the puzzle that I don`t have, only forecasts from the City. It`s tough to get accurate information between census points, so I`m not able to speculate as to what the growth will be this coming year. Maybe Don will take a shot?


As for the rental market, we`re heading into busy season with rents increasing and vacancy rates dropping. Our portoflio is about 98% occupied right now with any vacancies mainly due to turnover. We`ve recently been pre-leasing properties prior to posession, which is always an added benefit. It`s nice to see the rental market finally recovering from the big hit it took last year around this time. Rents are still down, but have stabalized and are showing signs of improvement.
 

RanjitPlaha

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Sep 27, 2007
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#4
Drew, this information is dynamite.
You folks put a lot of effort into doing the research and putting into plain understandable English.
Thank-you for sharing.
 

mstrim

Mario Strim
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Sep 9, 2007
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Millarville, Alberta
#8
QUOTE (DrewBetts @ Oct 17 2008, 11:58 AM) Hi folks!

We complete an annual report on Grande Prairie, Alberta. Data on this area can be quite difficult to find, so we dig and gather data from sources all over the place (including, of course, the REIN team!). The link below is to this year`s report, which we`ve just finished. It contains a variety of current data on what`s happening from a real estate perspective in the city. Feel free to download and use this report. We find it`s especially valuable when speaking with bankers these days as well as joint venture partners. Enjoy!

http://www.evolveinvestmentgroup.com/downl...ortunity-report
Hi Drew,

All the links to this research report have expired and your main website no longer exists. Is Evolve Investment Group no longer in business?
 

housingrental

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Oct 10, 2007
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#10
Why whats the storey behind this?

Did his investments lose money and he gave up?

QUOTE (Smitty @ Apr 1 2010, 10:21 AM) Drew is no longer a REIN member and is out of real estate.

Mike
 

Smitty

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Sep 14, 2007
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#11
Housing:



I cannot claim to know Drew that well, so I really can't say, and hence I won't. It would be grossly unfair to him to speculate, and - I say this out of respect - its really none of our business.



My entire purpose for replying to this thread was to provide an answer to the fellow who revived it, in the hopes this thread would die off and people would post their analysis of GP in Monte Dobson's thread (it si the most current thread on GP):



Grande Prairie Real Estate Analysis and Comparisons,



Smitty
 

housingrental

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#12
Sure Smitty not a problem.

On "its really none of our business. " - I strongly disagree. If you have someone trying to get funds for an investment they run isn`t knowing why there out of business two years later something to discuss? Should there tract record be ignored if they start up a similar business in the future?

Might there also be some helpful take away`s for investors looking to invest in other companies? When investing a good portion of your savings the more information you can obtain to protect yourself the better off you`ll be.
 

DrewBetts

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#13
QUOTE (housingrental @ Apr 2 2010, 09:11 AM) Sure Smitty not a problem.

On "its really none of our business. " - I strongly disagree. If you have someone trying to get funds for an investment they run isn`t knowing why there out of business two years later something to discuss? Should there tract record be ignored if they start up a similar business in the future?

Might there also be some helpful take away`s for investors looking to invest in other companies? When investing a good portion of your savings the more information you can obtain to protect yourself the better off you`ll be.
Hi folks. Allow me to provide some clarity. Evolve did not go out of business. Our joint venture contracts had matured and we exercised the buy/sell clause in the contracts. Many of our investors have chosen to stay in the market instead of sell. As for if investments lost money, I feel confident asserting that virtually anyone who purchased in Grande Prairie in 2006/2007 who chose to sell now would be down. But a 2 year hold isn`t the strategy that`s taught here because it`s high risk due to market cycles. Long-term holds are the key to success in real estate and I`m sure that the investors that choose to hang on to their properties will do just fine.

Evolve`s website is down because we are not actively marketing a project or raising capital. The company is completing the business of the joint ventures we set up. That`s really the long and the short of it.

As for the Grande Prairie research report linked here, that information is now out dated. Anyone considering investing in Grande Prairie should research that market with current information using the techniques taught in REIN.

On a final note, I`m not out of real estate. I am, however, not in the business of raising capital for real estate projects anymore. Cheers!
 

gwasser

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Oct 22, 2007
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#14
QUOTE (DrewBetts @ Apr 2 2010, 01:37 PM) Hi folks. Allow me to provide some clarity. Evolve did not go out of business. Our joint venture contracts had matured and we exercised the buy/sell clause in the contracts. Many of our investors have chosen to stay in the market instead of sell. As for if investments lost money, I feel confident asserting that virtually anyone who purchased in Grande Prairie in 2006/2007 who chose to sell now would be down. But a 2 year hold isn`t the strategy that`s taught here because it`s high risk due to market cycles. Long-term holds are the key to success in real estate and I`m sure that the investors that choose to hang on to their properties will do just fine.

Evolve`s website is down because we are not actively marketing a project or raising capital. The company is completing the business of the joint ventures we set up. That`s really the long and the short of it.

As for the Grande Prairie research report linked here, that information is now out dated. Anyone considering investing in Grande Prairie should research that market with current information using the techniques taught in REIN.

On a final note, I`m not out of real estate. I am, however, not in the business of raising capital for real estate projects anymore. Cheers!
Hi Drew,

Good to hear your situation is not as dire as was suspected by some.

It sounds though as if you have no longer an interest in running JV`s. Would you mind discussing your experiences with JVs and what you would do differently today?
 

housingrental

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#15
Thank you for the post Drew.

To add to Godfried`s questions why did you decide to stop offering more jv`s? Did the rent to purchase price no longer work with recent drops in rent? Or did demand from investors stop?

What info can you share that might be helpful for someone looking to setup a similar business in the future?
 

greg12

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Feb 4, 2008
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Surrey, BC
#16
By Drew`s handle, it also seems that he is still a REIN member. However a google search suggests he is now into social media: Thank you for the post Drew.

To add to Godfried`s questions why did you decide to stop offering more jv`s? Did the rent to purchase price no longer work with recent drops in rent? Or did demand from investors stop?

What info can you share that might be helpful for someone looking to setup a similar business in the future?