News From Suzanne Reid
Hello everyone. Summertime is drawing near and the weather is warming. The City of Kingston is looking at a plan for the week of June 22nd to see what they could we do to offer Market Square as space for restaurants or businesses that need to change their footprint because of physical distancing by using some of that space for extra seating! To make this easier, the following road closures will be put into place:
- Brock Street will be fully closed from Ontario Street to Wellington Street. The King Street intersection will remain open for traffic to flow along King Street.
- Clarence Street will see some on-street parking repurposed to accommodate a lane shift.
- Market Street will be fully closed to vehicular traffic
- Princess Street will see the closure of all on-street parking spaces and a single lane for vehicular traffic from Division Street to Ontario Street. Cross streets will remain fully open. Some on-street parking areas on these cross streets will be changed to create short-term parking spaces for curbside pick-up and deliveries
How exciting is this?! They will also waive both the notice period and final Council approval usually required for restaurants to add or expand patios. The City is also waiving patio permit fees for 2020. The City of Kingston has once again pulled through with innovative thinking and problem-solving strategies!
With only two new cases of COVID-19 in the Kingston, Frontenac, Lennox, and Addington area for the month of May, residential construction is now reopened for business, which means I have been able to move forward with quotes from construction teams to have my duplex conversion project rolling once again. Everyone is behind and backed up because of the pause, but there are always strategies to be had when it comes to real estate investing, so if it takes longer to complete, no problem. No one loses. We will rent the upstairs unit until they can get to the downstairs. A win, win, win for the project manager (me), co-investor, and tenants who have a safe place to live during these times.
In the meantime, during our imposed ‘break’, I continued my education as per usual online with seasoned investors, and those who are just checking it out, as you are never finished educating yourself when it comes to all things in life, and this includes real estate investing. The is so much to learn about planning, financing, bylaws, building code, who’s who in your area, banking and borrowing strategies, best materials and practices, exit strategies, and so on, with ongoing changes to every subject along the way. Like the saying goes, “Life is not about the destination, but the journey”, and in the investing world, the journey never ends, and there is always something exciting to learn! On May 13th, I attended the Durham region Real Estate Investing club and learned that Penguin Basements have now expanded out of that area and are now taking contracts in Kingston! I always had hope they would come out this way. I am now in touch with them about a quote!
Also, being VP Planning for the Kingston Real Estate Investment club, I have acquired a new role as techmaster for our monthly Zoom meetings, which includes starting the meeting, welcoming the speakers, muting the audience, presenting incoming questions to the speaker, and muting anyone who might have turned their speaker on while the speaker is presenting. There’s always that one at the back of the class, right? Elizabeth Kelly of Elizabeth Kelly Consulting was our speaker du jour, who covered everything from investment strategies and their differences, to power teams, financing, personal focus, analysis, goals, risk analysis and so much more!
Real Estate Leverage
Leverage is the use of various financial instruments or borrowed capital (e.g., debt) to increase an investment’s potential return. A 20% down payment on a mortgage, for example, gets you 100% of the house you want to buy—that’s leverage. Because real estate is a tangible asset and one that can serve as collateral, financing is readily available.
Competitive Risk-Adjusted Returns
Real estate returns vary, depending on factors such as location, asset class, and management. Still, a number that many investors aim for is to beat the average returns of the S&P 500—what many people refer to when they say, “the market.” The average annual return over the past 50 years is about 11%.
About Suzanne Reid:
Suzanne Reid is a real estate investor. She’s been actively involved in the Kingston and surrounding area real estate investing for a number of years. Her mission is to provide quality housing for quality tenants, while at the same time providing an above-average return on investment (R.O.I) for our investor partners and ourselves. It is truly a win-win-win way of investing!
Suzanne offers her investor partners hands-free investment opportunities. If you are interested to learn how to earn an above-average return on your investment, backed by a solid asset, and without a hassle of being a landlord, please contact Suzanne.
For more information about Suzanne and her investment program, please call 613-532-1968 or visit https://suzannereid.ca/