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Loblaws to close 52 unprofitable stores across all their banners.

Loblaw Plans To Close 52 Unprofitable Stores Across A Range Of Banners

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I was not trying to say that it was a bad investment as such. However it is likely to have issues with regard to the location, the tenant that it would attract and that the building itself appears to be at least 30 years old. They dont really build houses that well in these parts. I would think long and hard about buying an older house here. This is of course all subjective to what you want from an investment.

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The one in Riverview is in a much better location but it is an older building. Its selling point is that it is very close to a k - 5 school and not that far from Riverview high school. I would say that it would fetch $800 -900.

The one across the river is in crap area. It also backs onto a petrol station, car wash and Mcdonalds.

Those types of property are not particulary attractive rentals when there are plenty of new build semi and duplex units in the nicer parts available for 900 -1200 per month often with stainless steel aappliances etc. Which one would you choose??

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Yes, as a landlord you'd be more interested in tenants who wanted better, although if you were "in the business" of renting you probably wouldn't care so long as the profit was there.

I'm not overly familiar with that area. Looking down some of the side streets from that part of Main, some places look a bit shabby. But "taking a trip" along the street that property is on (google streetview) and the surrounding streets, it all looks perfectly nice, just not that much in the immediate area.

With people insisting on driving everywhere, though, I'm not sure that's seen as a disadvantage.

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one which has the best return on equity with minimum investment.

For example, lets say there is a duplex in the right part of town that cost $200k with 25% down ($50k) with a gross rent for each half (tenants pay their own utilities) $1000/mth x 2 = $24,000/yr. Minus cost of mortgage, property tax & maintenance

source TD bank (below)

"For a 25 year mortgage for $150,000.00 at the rate of 2.84%, your Monthly payment is:
Mortgage Payment:$697.61
Insurance Payment:$0.00
Total Monthly Payment:$697.61"

Monthly mortgage - $697.61

Property tax - $200

Maintenance & building insurance - $102

Total cost in round numbers = $1000 x 12 = $12,000

Yearly Income gross $24,000 - cost $12,000

Net income $12,000

Investment $50,000

ROE = 24%

On the basis the units are occupied 50% of the year, then it would be a zero return on investment equity other than the costs are covered & that the mortgage is slowly being paid down. Alternatively, the owner could live in one half & rent out the other, which provides the owner rent free living.

Various options, various models based on price, area & rent

Alex from MLS.ca are there any specific areas in Moncton you see that you as an investor would buy a Duplex or triplex - if so, what kind of property prices are you seeing & the rents that are on those?

what about the few below?

http://www.realtor.ca/Residential/Si...unswick-E1C6G2

http://www.realtor.ca/Residential/Si...unswick-E1C7B7

http://www.realtor.ca/Residential/Si...unswick-E1C4G9

.

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I think Alex's question was from the renter's POV.

With so many good rentals in nice areas with shops and other things around and for attractive rents, why rent somewhere less attractive with less around and maybe higher bills too?

You may get a bigger profit margin on the low cost building but not if people choose somewhere else. The present high vacancy rate allows tenants more choice.

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agree on all of the above.

As an investor, not as a renter, that is why I used high value buildings, with leveraged investment, worse case occupancy for the maximum ROE or ROI, even if you as an investor was a owner occupier renting out the other unit(s).

Bristol are you an owner occupier as well as the landlord of any of the places that you own?

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Owner/Occupier of our home and owner of one duplex.

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Exactly this.

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This is quite interesting as I was going through the same thought process about a year ago prior to buying my house. I was looking at buying a duplex - the one I was living in at the time. By the time I had done all the numbers and the cost of maintenance, upgrades etc it was a fine line between getting a slight return and it turning into a money pit. Moncton is a bit of a strange market. There is a glut of property for sale and rent. Wages here are low compared to other parts hence the property market moves very slowly.
There is no doubt money to be made but it is a question of how quickly you want that return and on what scale you are looking to invest. IMHO (take that for what it is) it is not worth the hassle of buying the cheaper end duplex type properties in the less desirable areas of town as there are too many potential pitfalls.
The Moncton area has over built new build property massivley over the last 5 years or so. The North end neighbourhood has sprung up like daisies. This is again great for a buyer as you can be choosy and it keeps prices steady.

If I was in a position to buy a property purely as an investment it would be a toss up between buying the newish build entry level semis in the North end or Dieppe with a view to renting to a family or young professionals.

The other option is something of a gamble but one that has a good chance of paying off. It would be if you could find an newish build apartment downtown. Moncton is in the process of trying to build a new arena downtown and it will the catalyst to regeneration. At present downtown is shameful for a city of this size. This project will hopefully inject some much needed life and investment into the downtown core and would likey lead to the surrounding areas becoming much more desieable for business and residential projects alike.

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Alex @ post #290, thanks for your input & opinion...

Are the desirable areas only the North end & Dieppe?

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No Frills in Trail made a mistake nearly 2 weeks ago and priced family-pack sausages at $4.35, $4.60, etc instead of $14.35, $14.60. The cooler and freezer pacs allowed me to get them to Oliver still frozen the other day. I didn't want to take unfair advantage of what was obviously an error so only bought 2 packs. They charge too much for them anyway (the usual price is around $8) and I'll have enough to last until I go back to Regina next week.

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Of those three properties:

That end of High St is a bit out of things, but otherwise a perfectly respectable area. Quite a few apartment buildings there but that doesn't seem to come with the near guarantee of rowdiness and other issues that many expect. It just seems a cheap way of living.

The other two - Noel and Essex - those areas are perfectly fine too, but the buildings themselves are not appealing to look at.

As I said before there are a few streets with a few shabby looking houses. But then walk 100 yards on the same street and you can think you're on millionaires row.
Here's the not nice end of High - full of vacant, overgrown and scruffy lots, industrial units and ugly but small apartment buildings - followed by the middle and very nice looking part with nice manicured lawns and characterful properties and then nice quiet Essex St (served by buses too :)).

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The barcodes didn't override it?

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The were priced at $3/kg.

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Made a purchase from our specialist cheese shop yesterday.
Guinness Cheddar, Whisky Cheddar and some Stilton that looks a bit superior to that sold in the main supermarkets.

I bought 100g x2 and 200g of the stilton.

$24 :eek:

Before I went for those I asked if they had Cambozola. They didn't. At that point I almost went for the cheese shop sketch.

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When I got back to Oliver I went to Super Valu and bought 3 packages of the Okanagan's Choice cheese that I like from Lumby, aged white cheddar, feta, and jalapeno jack, (skipped the nippy cheddar this time), roughly 200g each for $3.99 each. Individual label prices run to $5.45 but Super Value here sells them all for $3.99.

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Three manky leeks for $3.99

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$2.35 worth of wonderfull at the Oliver Super Market fruit stand south of town.
previously posted where it had no business

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That does look rather good!

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Minus the peppers the tomatoes look good...

The bell pepper alone would likely cost more then 2.35...lol

But we have no cheap source of produce, the local markets all charge a price premium over the grocery stores.

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Around this time of year in 1975 I bought a pepper in Oaxaca that when I sliced into it the vapour that came off immediately raised blisters on my lips and eyelids, you would have dropped like a rock. A piece about 3/8 - 1/2" square would flavour a pan of food.
Edit: I assumed from your post that you don't like peppers, but how can that be when you like Mexican food?

And that's how I stopped biting my nails. :-)

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I always get mild Mexican dished without peppers... Peppers/onions upset my stomach so on the list of things I don't eat.


Bell peppers taste fine, they just cause stomach discomfort....

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No onions? You are in a bad way.

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Never been a fan of onions really. I am a fairly picky eater to begin with have been since I was a kid.

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Pairs well with damn near anything.

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Cheese and Onion sandwiches (and toasties) - with beer or not
Pickled onion with a ploughman's lunch
Onions with hot dog
Integral part of a curry and many other dishes
With mushroom and steak
Cheese and Onion flavour crisps (potato chips)
Ingredient of steak sandwich

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cheap as onions or potatoes is roasted garlic (olive oil in foil), when cooked add to onions & mashed potatoes, or down them with your favourite brew

Or, just the roasted garlic by itself on a sandwich, top with lettuce

On onions, any which way as Bristol pointed out, boiled onions, even dried onions, or frizzy shredded deep fried onions (not battered)

Curry onions by themselves or with any other veg thrown in.... potatoes, zucchini etc

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After our trip to the fruit stand my neighbour dug up a double handfull of little new potatoes for me so I'm making potato salad right now, using the small red sweet pepper, one of the hot little yellow ones, and lots of chopped green onions (also boiled eggs, garlic, etc etc). I'll coat the big pepper with olive oil and cook it on the bbq then split it and use half as a boat to hold the potato salad.

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Working on those peaches! I put half a shot of Old Sam rum in this.

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@Siouxie
I see Superstore/Loblaws has it though.

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Oooh I shall go and look, thanks!

:)

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Never make peach pie since peaches a small fortune, but I make apple pie every so often, nothing like a home baked pie.:thumbsup:

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We grow our own strawberries and rhubarb - a terrific pie combination

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They do, and also a Quebec blue called Meteorite that's rather good.

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I had 2 strawberry plants out front this year, lots of flowers but only 3 berries so far, but not the most ideal place to grow stuff.

The tomatoes did well though.

I have pumpkins growing at my mother in law's but with the heat and lack of rain it's been problematic keeping them in good shape, but I have 4 pumpkins on the vines currently, one is pushing 10 pounds, the other 3 are about the size of an apple.

Have some corn growing over there as well, not ready for picking yet and no idea how good it will be or how those will turn out.

If I had the land my MIL has 1/2 acre and mostly all with good sun, I'd have the whole yard growing food....

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Could you not build somewhere to live on her land, or wouldn't that be allowed? I'm thinking 'tiny house living'.

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Squamish doesn't currently permit tiny houses (there is a local push to get the district to zone and permit it however.)

She still has a mortgage on the property so getting the lot split is not an option at the moment.

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These were $16 per 20 lb box, I brought back 4 cases for friends and 2 cases for me to give away and eat. After I take some for the staff at work tomorrow there'll only be 7 or 8 lbs left to deal with so I won't have to worry about them going bad.

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Siouxie - Costco also sells an excellent Cambozola! One of Mr Schnooks' favourites. (And mine now that I can eat soft cheese again! YAY!)