I able to choose who I married, (married Leigh 33 years ago), where I live, what I do for a living (sometimes I think otherwise on a bad day), my friends, social activities and my investments.

What I had no choice over was my parents, and relatives. For some this presents a great challenge and for others an advantage. For me, it was an advantage. The one advantage I got from my Father was Real Estate Investing. Dad made a lot of money in the late 70’s and lost a lot of money in 1980’s. I learned about real estate cycles and more importantly, the ability to make a choice. Chris is learning the same lessons today.

Real estate investing is all about making choices.

• Choose to be an investor or not. (Why are you doing this?)
• Chose to buy ( hands on property owner or mutual funds owner)
• Where to buy? (REIN’s Goldmine scorecard)
• What to buy? (Davies Group Investor Discovery Tours)
• When to buy? (timing and business cycles, Recessions past)
• Where will the money come from? (REIN’s joint venture secrets)
• Where to get the financing? (Peter Kinch’s sandbox rules)
• Who is the tenant? (tenant screening tips)
• Who does the day to day business? (retaining control)
• Exit strategies? (how do I get out?)

A few Examples of Poor Choices

• Buying property in poor neighbourhoods ( It cheap for a reason)
• Lone wolf syndrome (I’m smarter than the rest of you)
• “They don’t build land anymore” (real estate markets can boom and bust)
• HOT ! HOT! real estate markets (Condominium conversation and pre-builds frenzies)
• Refinancing real estate (forgetting that eventually you have to pay tax on the money)
• My Accountant does the numbers (not look after the details)
• Speculation (buying based on a tip)

The Results of Poor Choices

• Foreclosure
• Bankruptcy
• Family breakups

The Results of Good Choices

• Establishment of long term wealth
• Personal freedom including the ability to say ”take this job and shove it”
• Improved Standard of living.

Choice is the biggest single tool for the investor. You, the investor; can choose your investment type, the property, the renovations, the tenant, the color of the walls and when and if you sell.

Real estate education is so critical and that is why I support organizations such as the Real Estate Investment Network (REIN). Getting great information on relevant issues and strategies that work in your neighbourhood is so important. I roll my eyes whenever I see in the paper advertising a seminar coming to town teaching all about buying tax liens. Strictly an American strategy and it does not work in Alberta. But people pay thousands every year on learning how to buy something that does not exist in Alberta.

I was given a book many years by Milton Friedman, Free To Choose
. Milton Friedman was an advisor to Ronald Reagan, and a Nobel Award Winner. A good read for the entrepreneur. And why we Free to Choose.

Enjoy your freedom to choose, and enjoy the results.

                 different property types. The pro and cons of each type of property from single family, suited properties, and

                 multi family.  Numbers have to work,  but if your basic assumptions are wrong, then the numbers don’t work.

                Our spring multi family tour is scheduled for Saturday, May 5,2012 

                 Just email your interest to attend to brent@brentdavies.com .

Stunning 3+2 bedroom home with 2 bathrooms and 1 on suite.  Double car garage, fenced yard. Located directly across the street from the Jasper Place leisure center.

This great property will be ready for sale or rental on April 1, 2011

The Main Floor

This 1500 sq ft four-level split has new flooring, painting and light fixtures throughout. The kitchen has new stainless steel appliances, new modern cabinets and leaves oodles of space for two or more people to work together. The bathrooms have been upgraded throughout, including a powder room off the main entrance. The living room features two large windows overlooking the back yard and the enormous Lorelei park, as well as a new fireplace (chimney, tiles and mantle) make for a comfortable living room.

View more pictures on Flickr

The Upstairs

Four spacious and well laid out bedrooms leave lots of room for kids, hobbies or a home office. The master bedroom includes a walk-through closet, ensuite bathroom and a deck! On the landing, a large, bright room will serve equally well as a spacious bedroom or an ample home office/den. Warm, comfortable carpet and neutral paint colours throughout leaves the upper level functional, well laid out and ready for you to put your stamp on it.

Basement and Garage

The finished basement includes a large, fully finished, well lit family room, home theater room or playroom. Paneled doors lead to a potential fifth bedroom or den, a large laundry room, and a storage room beneath the stairs. A single-car attached garage is steps from the main floor, with a new garage door recently replaced by the Condo Board.

The Neighbourhood

Lorelei Close is close to three schools, both Castledowns and Namao Center shopping centers and will be less than 5 minutes from the newly completed Anthony Henday ring road in in fall 2010.

To View #85 Lorelei Close, call Brent Davies at 780-297-2810

Every month, the BrentDavies.com newsletter will include:

• Brent’s Tricks of the Trade: Stories and techniques from a lifetime in real estate, giving an old pro’s spin on common challenges.
• What is Your Favourite Neighbourhood? Every month, I will talk about a different area in Edmonton, giving a ground-up analysis of its strengths, weaknesses, and future.  Discover the money makers, the areas in transition, and the landmines to walk away from.
• Brent’s Market Analysis: A monthly update on the Alberta real estate scene, with an eye to the economic landscape and how changes in legislation will impact investors and landlords.
• What I’m Doing: A personal update on my listings, investments, and other projects.

Subscribe Now!

Come and visit actual listings and learn the secret to evaluating neighbourhoods, property selection, due diligence, cash flow analysis, budgeting for reno’s and flips, and writing/presenting offers with no fear, and no obligations. Discover the money makers to watch for and the landmines to walk away from.

Download the registration form here.

Join us to tour and discuss real properties:

Thursday,  Sept 9, Samll Multiplexes, duplex, 3 plex, 4 plex
Wednesday, Sept 22,      Multi-family 5 units to 40 units
Wednesday, Oct 5            Townhouses
Wednesday, Oct 27         Suited Properties, (basement suites)
Wednesday Nov 3,          Condos and the LRT
Wwednesday Nov 24,     Single Family Homes

Each night will follow the same format:
6:30 p.m. Meet other investors, review the property type and neighbourhoods
7:00 – 8:30 Tour selected properties
8:30-9:30 Review the properties, analyze the numbers and write an offer.

To reserve your spot, email brent@brentdavies.com, fax this form (PDF) to 780-484-3018 or call Brent at 780-297-2810.

Property managers and landlords are constantly looking for quality tenants. In March 2008, we
ran some tests on Internet advertising because the response to both our newspaper and internet
rental ads in Edmonton, Alberta had decreased. We felt that this type of advertising was not cost-
effective and we were not getting a large enough number of applicants to find great tenants.
We decided to try Internet advertising because it is frequently used by out-of-town residents who
are looking to move to Edmonton. These people are usually young blue-collar tradesmen,
looking to take advantage of Edmonton’s low unemployment rate. We find these tenants are
desirable because once they find a job they usually make good long-term tenants.

In 2006 we discovered an oddity in our properties. A majority of the tenants in our higher end
rental suites and homes owned at least one computer. On the other hand, only 3 of 22 tenants in
one of our lower income buildings had computers. Home internet use was a sign of prosperity.
We felt that by using internet advertising we would be able to screen out lower income tenants
who don’t have computers and would have too low an income to be consistent tenants.
We tested our advertising in March of 2008 by placing five identical ads on different rental
websites. Each website listed a different email and phone number, allowing us to track the
effectiveness of each ad.

The sites we used were:

• Gottarent.com
• Rentedmonton.com
• Rentfaster.ca
• Albertarent.com
• Homerent.ca

Prior to this test, our marketing was based on all calls and inquiries to a central number. Inquires
were asked where they got our name, the internet as the answer. Many times they could not
remember the website.
Our questions were:

1. Was our current program of internet ads working? We were using Rentfaster.ca as our primary website.
2. Which rental websites led to the most inquiries?
3. Was there one site we could use exclusively?

Fill out the form to download the full 12 page whitepaper with the complete results: