We’ve heard it time and time again, Alberta is a prosperous province with a booming economy, but how do we actually stack up, numbers wise? The Alberta Office of Statistics and Information has the answers: Last year the population in our province jumped by 3.5%, which is triple the national average. Average rent for […]
That smaller city to the north — you know, the one with the legislature and that megamall — is now growing at a faster clip than booming Calgary. There are 877,926 Edmontonians, according to the city’s 2014 census released Friday. While that remains a far cry from Calgary’s nearly 1.2 million, the capital’s two-year growth […]
After Auto-Pact was signed in the mid 1960’s, Canada was responsible for 20% of North American car production, reaching its peak in the 1980’s. It is now down to about 13% and is expected to be declining further still. Since 2000, five Canadian manufacturing facilities have closed and only one has opened. Auto industry employment […]
I have started my real estate investment career in earnest in 1997 with rental pooled condos as it provides a turn-key operation with little management headaches, ideal for a part-time investor with a busy career or family, as elaborated further in my book “80 Lessons Learned on the Road from $80,000 to $80,000,000”. A rental […]
We came across a listing recently and thought you would appreciate this little story. It is an influential example of the power of owning and holding real estate. In December 2003, Prestigious Properties acquired Spruce Manor, a 12 unit building in Edmonton for $492,500 ($41,000/unit) with $100,000 in cash, the smallest PrestProp building ever acquired. After modest renovations […]
Real estate is like a three course meal. The appetizer is the positive cash flow, always appreciated but not required (because breaking even is okay too). The dessert is the equity appreciation; like an appetizer it is always appreciated but not required for a meal or wealth creation. The main course is the mortgage pay down, month after month. […]
One of our most recent acquisitions for Kings Castle LP was the 71-Unit Castle Harbour Property in Edmonton. This property is not only in a great neighbourhood close to a lake but will also benefit from the soon to be completed Anthony Henday ring road. A second example is our acquisition in late 2010 in […]
Feeble returns for baby boomers seeking income are extremely low on the safest investments such as bank deposits and fixed-income securities. The current low interest rate environment represents a “financial repression” transferring money from savers to borrowers, such as real estate investors. Unlike these “classic investments”, did you know real estate is a great alternative […]
We are extremely pleased to announce that Fireside Property Management was the winner of two prestigious awards from the Calgary Residential Apartment Association, namely resident manager of the year and lifetime achievement award. Fireside Property Management was specifically created, in 2005, to manage much of the Prestigious Properties portfolio in addition to now third party […]
Are you looking for regular CASH FLOW in your RSP, TFSA, LIRA, or RESP? On June 4th 2014, Prestigious Properties launched our new investment vehicle, Kings Castle RRSP V. Now you can own apartment buildings in booming Alberta with as little as $10,000 AND benefit from regular cash flow distributions. More details on the assets […]
