Eagle Quest Properties

One of two Alberta men accused of running a Ponzi-style scheme alleged to have scammed Canadian investors out of hundreds of millions of dollars has also attracted the attention of American watchdogs, including the FBI and the IRS.

via FBI, IRS looking into Canadian Ponzi scheme.

As real estate investors, we’re often looking to make sure that any capital improvements we make are going to be worth the investment.  Generally speaking, we want to make sure that our investment will be paid for by our tenants over the period of 2 to 3 years.  So, we don’t want to be having to pay out more money to fix issues with that investment over the 2 or 3 years, or it ends up taking longer to pay off.

This is where a tradesperson’s warranty comes in very handy.  Ideally you should be looking for tradespeople that warranty their work for a period or 2 or 3 years, or even longer if you can get it.

This brings up another topic for real estate investors.  Just as professional tradespeople need to have funded reserves to cover their warranty work, we should also have funded reserves to pay for repairs, and to make capital expenditures.  If we don’t, we’ll quickly become don’t wanters that ultimately will be trying to find someone to buy our properties that will insist on discounting the value.  Don’t make yourself a don’t wanter.  Do the right thing.

For the tradesperson, there’s benefits as well.  Please read the following article from Professional Remodeler magazine for more info.

What kind of warranty does your company offer?

…

Often, a one-year warranty is looked at as a “must provide” to clients, and companies breathe a sigh of relief when that year goes by without a call.

via Why A Remodeler’s Warranty is Critical – 6/1/2009 – Professional Remodeler.

Buying your home was probably the best investment you ever made. That’s because, over the long term, real estate has proven to be a sound investment while at the same time offering you and your family shelter and a feeling of pride of ownership.

When selling your house, it’s good to consider the kind of real estate market you’re in. Both buyer’s and seller’s markets have pros and cons.

However, real estate is subject to the law of supply and demand, which creates cycles in the market. A shortage of homes generally means prices rise. This is “seller’s market.”

Alternately, a surplus of homes can result in a slowdown in sales or even a reduction in prices and is referred to as a “buyer’s market.”

Which market is best?

via Things to consider when selling.

Most people from Ontario know Hamilton affectionately as ‘Steeltown’.  Other people from surrounding towns such as Ancaster, Binbrook, Glanbrook, Flamboro, Dundas and Stoney Creek use it as a four letter word.  The Province of Ontario recently decided to do away with the Regional Municipality of Hamilton-Wentworth (formerly Wentworth County), and throw everything into the City of Hamilton.

That being said, Hamilton is still a very nice city, with lots of potential.  The Province of Ontario has mandated that every city in Ontario must have 40% of all new development as in-fill.  The City of Hamilton has a lot of buildings that are very much worth rehabilitating, and it has a lot of empty parking lots that are worth replacing with a new building.  Add to that, the city is investing in its downtown core, by providing 5-1/2 year interest free loans as secondary mortgages to incentivize redevelopment and development in the downtown core.  You can definitely find some beautiful pictures of Hamilton’s skyscrapers and other architecture worthy of mention.

If you would like to take a tour of Hamilton, please be my guest.  It has many remarkable neighborhoods, and a lot of character.

Hamilton’s Neighborhoods:

• Durand – Stately Homes and Mansions…would you like more?
• Gibson/Lansdale – Working Class Neighborhood (also includes some nice panoramic skyline shots of the harbour)
• Locke St South and Kirkendale – Gentrified and Neighborhood Shopping District
• Dundas – Historic Suburb (now) of Hamilton (also includes some streetscapes)
• Westdale – Upper Middle Class Neighborhood with Large Jewish Community and Many University Students
• Corktown – a Traditionally Irish Settlement on the Edge of Downtown
• Stinson – an Old Middle Class Neighborhood on the Edge of Downtown
• Jamesville – Home to Large Portuguese and Italian Communities
• Heavy Industry – Just What it Says and Hess Village (scroll down about halfway) – Downtown Nightlife Area – Victorian Buildings Converted to Pubs, Restaurants and Clubs
• Village of Ancaster – Wealthiest Area in Hamilton, and Home to the Hamilton Golf and Country Club and The North End (scroll down about halfway) – One of Hamilton’s Oldest and Most Colourful Neighborhoods
• Bayfront Park and Cootes Paradise – the West Harbour Area (about halfway down, you can also see shots of the Hamilton Mardi Gras Carnival that is usually held in August)
• Delta – An Old Streetcar Neighborhood in Downtown

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  The First Timmy's (Tim Horton's to Non-Canadians) in Canada

• Strathcona – Large Historic Urban Neighborhood
• Hamilton Beach – Traditionally a Playground for the City’s Elite, but has Its Ups and Downs – Now an Exciting Place to Go for Summer Excursions
• St Clair – a Hidden Treasure in the Middle of the Lower City
• Commercial Street – Hamilton’s Oldest Commercial District
• Barton St – the Grittiest Street in Canada and Barton Village (about halfway down the page)
• Apartment Buildings – Some Apartment Buildings from the 50’s and 60’s (you’ll need to scroll down a little bit to get to them)
• MacMaster University – The Names Says It All – a Canadian Institution
• Hamilton’s Western Suburbs
• Ottawa St – 1920’s Commercial District
• Chedoke Park – Early 20th Century Neighborhood
• Beasley – the Poorest Neighborhood in Hamilton and One of the Poorest in Canada – Average Income is a Mere $6,226/a – Home to Drugs, Poverty, Homeless Shelters, a Large Immigrant Community, and a Growing Gay Community
• Stoney Creek – Important Battle Site of the War of 1812
• Central – One of Hamilton’s Oldest Neighborhoods
• City of Burlington (technically, not part of Hamilton) – the City Across the Bay
• Lansdale – Old Working Class Neighborhood – 7,030 People Per Square Kilometre Density