Any specifics on Red Deer`s outlook?

[RedlineBrett]

My partner and I are looking at some properties in Red Deer. We currently work exclusively in Calgary.

Does anyone have any insight on the long term outlook for this city? We like it because it is in the beltline and because it`s starting to look more attractice considering how expensive Calgary and Edmonton are getting and also because it`s highly ranked on REIN`s top ten AB towns list.

have any REIN members pitched a JVP on a red deer property recently? What did you use to substantiate your opinion on it being a good place to invest?

TIA!

 

[GlennLasiuta]

QUOTE (RedlineBrett @ Nov 7 2007, 07:52 AM) My partner and I are looking at some properties in Red Deer. We currently work exclusively in Calgary.

Does anyone have any insight on the long term outlook for this city? We like it because it is in the beltline and because it`s starting to look more attractice considering how expensive Calgary and Edmonton are getting and also because it`s highly ranked on REIN`s top ten AB towns list.

have any REIN members pitched a JVP on a red deer property recently? What did you use to substantiate your opinion on it being a good place to invest?

TIA!

Hi Brett.

Red Deer has some very amazing potential in store. We are running out of land, and had to annex from the county, in order to keep up with the growth in both residential and industrial. Our Economic development team is very pro-active and forward looking, creating the environment to attract many new business`. The city is throwing a lot of money to revitalize the downtown core and the older north west neighbourhoods.

I recommend checking out the cities website at http://www.reddeer.ca/default.htm which is proven to be very useful when doing your due dilligence, as a starting point.

Hope that helps a little.


Glenn Lasiuta

 

[mikecunning]

Hi Brett:

I have some info incorporated into some marketing materials. If you send me your email address I can forward to you.

Mike

 

[RedlineBrett]

QUOTE (Glennith @ Nov 7 2007, 08:16 AM) Hi Brett.

Red Deer has some very amazing potential in store. We are running out of land, and had to annex from the county, in order to keep up with the growth in both residential and industrial. Our Economic development team is very pro-active and forward looking, creating the environment to attract many new business`. The city is throwing a lot of money to revitalize the downtown core and the older north west neighbourhoods.

I recommend checking out the cities website at http://www.reddeer.ca/default.htm which is proven to be very useful when doing your due dilligence, as a starting point.

Hope that helps a little.


Glenn Lasiuta

Thanks Glenn, I see that there have been a number of development permits issued... one for a large apartment building - something we don`t see much of here in Calgary.

How are rental rates in Red Deer?

 

[GlennLasiuta]

QUOTE (RedlineBrett @ Nov 7 2007, 10:19 AM) Thanks Glenn, I see that there have been a number of development permits issued... one for a large apartment building - something we don`t see much of here in Calgary.

How are rental rates in Red Deer?

Hey Brett.

I believe permits are up significantly this month compared to last year this time. Builders are back logged like crazy. There are quite a few condos/apartments being constructed as we speak, some in the older areas, and most in the newer areas south east side.

As for rental rates, 1300 - 1700 / month seems to be average for single family homes, but someone else could possibly confirm that.
I like to look through the local paper and use Google.ca to come up with comparisons.
Hope this helps.


Glenn

 

[RedDeerWilliam]

QUOTE (Glennith @ Nov 7 2007, 12:45 PM) Hey Brett.

I believe permits are up significantly this month compared to last year this time. Builders are back logged like crazy. There are quite a few condos/apartments being constructed as we speak, some in the older areas, and most in the newer areas south east side.

As for rental rates, 1300 - 1700 / month seems to be average for single family homes, but someone else could possibly confirm that.
I like to look through the local paper and use Google.ca to come up with comparisons.
Hope this helps.


Glenn

Gentlemen,
Now you`re talking my language! I create rental charts for the Red Deer area and have been doing so on a monthly basis for the past 3 years. It`s not a perfect science yet but it`s pretty reliable as a solid `rule of thumb`. The sources of rents come from local publicized rental ads in the popular local papers and various Red Deer related `rental` websites. Go to Red Deer Rents September 2007 and check out the rents there.

I`ve been investing in Red Deer since the Fall of 2004. Our family has purchased 5 properites here (all in 2005) and all have doubled in value. That alone is our biggest selling point to JV Investors! Not mention that buying prices here are better than Calgary or Edmonton.

Now I too have started working with JV partners from outside Alberta.

 

[RedlineBrett]

Thanks for your post William and congrats on your success

I think your rental rate tool will be quite useful!

 

[DonCampbell]

Great information William.

I`m sure everyone investing in or investigating Red Deer will find your post incredibly helpful.

Thanks for sharing the details

 

[mikecunning]

Why Red Deer?

-Red Deer is at the centre of one of the hottest economic regions in the world!
-Access to 2 million people within a 90 minute drive
-Second largest oil reserves in the world and in a politically stable environment
-Vacancy Rate: "I`d eve say it is close to zero" David Kennedy, Manor Management
-TD Economics says "...it is truly Canada`s Western Tiger"
-Progressive Economic Development Office
-The immediate trade area is home to more than 216,000 people and climbing
-High Wages: average Red Deer wage (2005) $20.46 vs 20.74 in Calgary
-Region`s work force is young, educated and productive
-Strong tenant base
-BMO financial rates Red Deer as a "hotbed of growth for small companies"
-Number four on the Top Ten cities to invest in according to REIN

 

[GlennLasiuta]

QUOTE (mikecunning @ Nov 8 2007, 10:08 AM) Why Red Deer?

-Red Deer is at the centre of one of the hottest economic regions in the world!
-Access to 2 million people within a 90 minute drive
-Second largest oil reserves in the world and in a politically stable environment
-Vacancy Rate: "I`d eve say it is close to zero" David Kennedy, Manor Management
-TD Economics says "...it is truly Canada`s Western Tiger"
-Progressive Economic Development Office
-The immediate trade area is home to more than 216,000 people and climbing
-High Wages: average Red Deer wage (2005) $20.46 vs 20.74 in Calgary
-Region`s work force is young, educated and productive
-Strong tenant base
-BMO financial rates Red Deer as a "hotbed of growth for small companies"
-Number four on the Top Ten cities to invest in according to REIN

Hello everyone. Here is an interesting, and informative article I stumbled upon concerning Red Deer`s maket.
http://www.cmhc-schl.gc.ca/odpub/esub/6456...67_2006_A01.pdf

Have a great weekend.

Glenn Lasiuta

 

[GlennLasiuta]

Good Morning,

Here are some useful sites to get a feel for the Red Deer economics, and possibly to use in your presentations to potential JV partners.

http://www.reddeercorridor.com/home/default.aspx
http://www.reddeerregion.com/maps4.htm
http://www.reddeerchamber.com/links.htm

Hope you find these useful.

Glenn