Hello Hamilton Real Estate Investors!!
How is your 2016 so far? Sticking to your goals/resolutions? One objective of mine was to spend more time with
successful people and less time with negative folks, so we organized a “Nine and Wine” indoor, virtual golf outing with clients where we golfed nine holes over drinks at a establishment. Here’s the link and at $20 per person, we’ll be back again: http://farawaygreensgolf.ca/thursdays-nine-wine/. As always, it’s great to spend time with successful investors, share tips on real estate investing, whether it be rent-to-own, student rental, joint venturing, marketing tips, etc… I just find it motivating and inspiring to be around these people and laugh at how bad we are at golf. Nice thing about indoor golf is you never actually lose your ball unlike the real thing where I budget one ball per hole. 🙂 Investment success breeds success so I can’t wait till we see everyone this Saturday for our January Mr Hamilton Inner Circle Meeting where will be talking about goal setting and achieving, tax traps investors MUST avoid and Mr Hamilton’s tales on the economy and from the trenches. Register NOW as we’re about to start a wait list for attendees by clicking here.
Metrolinx will control LRT – including the cost, agreement says
“The city can give input on most of the components for Hamilton’s future light-rail transit (LRT) line, but for the most part, Metrolinx will be in charge”
Read the full article here: http://www.cbc.ca/news/canada/hamilton/news/metrolinx-will-control-lrt-including-the-cost-agreement-says-1.3410024
“The project will be designed, built and owned by Metrolinx and operated by or on behalf of Metrolinx. Metrolinx will either own the land or have real property interests.”
“The LRT line is due to be operational in 2024. Construction should start in 2018”
This article was news to me as Hamilton city counselors with wards outside of the areas with LRT service generally oppose LRT due to the costs and operating budget. FYI LRT is a cost center, not a profit centre. The TTC in Toronto would cease to operate without government funding to cover their operation costs. If Metrolinks, an agency for the province, is responsible for the funding and operating budget, Hamilton tax payers have to be happy to hear that, although the city does lose some control over the planning an execution (which isn’t necessarily a bad thing). From what I’ve witnessed, Metrolinks has executed many projects with much success: including parking structures for many Go Train stations and the James North Go Station.
Here’s what the planned LRT looks like:
source: https://www.hamilton.ca/city-initiatives/priority-projects/light-rail-transit-lrt
Takeaways for you sophisticated Hamilton Real Estate Investors is to drive around these neighbourhoods within 800 meters of proposed LRT stops/stations. Know what you are getting into and property values because new transit improvements are big upside in rent and property values to investors. We actually have property searches to filter properties within 800 m of each station. :p
Thanks for reading and happy Hamilton real estate investing everyone!
Erwin Szeto | MrHamilton.ca
Sales Representative
Rock Star Real Estate Inc., Brokerage
Ph: 905-361-9098
