That’s a picture of one of my clients enjoying her new (to her) trampoline. It cost just a little over $300,000. Included with the trampoline was a very nicely renovated and maintained 1,200 sq ft bi-level in St Albert.

Usually when you buy a house the offer to purchase has space for two types of chattels (i.e. stuff) – included and excluded. The simple rule for chattels when you buy a new home is this – if you can just unplug it and carry it off the buyer doesn’t get it. That’s why listing sheets include a list of included chattels (typically the appliances). There’s a grey area when it comes to articles like very nice front loading washing machines, expensive attached mirrors, built-in shelving, wall mounted TV’s and more fun goodies.

The best way to handle the situation is to list the chattels you want to keep. Don’t leave it up to the sellers’ whim if you’ll be disappointed if they remove the nice shelving unit or the trampoline. Two tips I’ve learned from investing; take a couple pictures when you view the property and on the offer write ‘as viewed on August 5th, 2011′ so there’s no doubt. The latter saved my clients some grief just last week when adding that line brought to light the fact that the sellers were planning to take the very nice front loader washer and dryer out and replacing them with the (still very nice but not quite as nice and not blue) builder-spec appliances from their new home.

But what about the non-standard chattels, like that trampoline in the picture?

First, don’t be greedy. This isn’t a chance to get a bunch of stuff for free. If you’re reaching, you’ll end up overpaying for the property and weakening your negotiating position.

Second, ask, but be wiling to hear a ‘no’. Sometimes sellers have sentimental attachment or have plans for the trampoline/shelving/TV etc at their new home. There’s a positive quirk of psychology that most people will feel bad for saying no, and be willing to give something else back in return.

Third, be polite. Compliment what they’ve done. I’ve always been most successful in getting stuff like trampolines when you spin the explination such that you flatter the sellers. Usually you want the item because it’s perfect for the room/yard/decor, or it’s unique. If people can get the price for the house they want, they’re often willing to throw in just about anything.

Fourth, document exactly what you’re asking for and the condition you’d like it in. There’s been a lot of good discussion lately about just what items are ‘attached’ and sellers often have a different idea of what attached means. I’ll extend that by saying that more listing agents should be putting exclusions on their listings (such as the wall-mounted TV and built in Bose sound system in my listing in Brintnell)

So next time you’re shopping, ask for something out of the ordinary. Chances are you’ll get a deal. Next time you’re selling, throw something in or leave something nice behind!

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I’m going to be doing a presentation at the Edmonton Revenue Property Investors Association Monthly Meetup on July 13th about online marketing and how it relates to investors. It starts with networking at 6pm, then the meeting gets going around 7. It’ll be at the Rosies Restaurant on 105 St & 80 Ave (2nd Floor). The meetings are dinner meetings; cost is $10 per person at the door and you must buy at least $6 worth of food.

I’m still talking with Les about just what people would like to hear more about, but some of the topics I’ll try to touch on are:

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A couple weeks ago I asked for your predictions around the Edmonton and Calgary real estate markets in 2010. There’s lots of predictions on the national level, but essentially none for individual cities. Here’s what 16 of you thought 2010 will bring for Alberta.

You were more optimistic about Edmonton, most people predicting positive growth between 0-10%. Interestingly the two people who said negative growth also answered no to buying, but one of them was an investor.

Edmonton 2010 Real Estate Price Predictions - 15 people say increase 0-10% - 2 people predict drop of not more than 10%

Calgary 2010 Real Estate Price Predictions - 12 people say increase 0-10% - 3 people predict drop of not more than 10% and one person says a drop of 10-20%

The majority of people are planning to buy more this year. Of those who said they’re not looking to buy 3 of the 7 said they were investors. All of those who are planning to buy more real estate said they’re investors.

Almost 60% of respondents are planning to buy this year

This is an real estate investing blog, so we’d expect most of the respondents to be investors. There were still 25% who aren’t investors, but that includes two prominent ‘bubble bloggers’. On balance I’m just flattered they read my blog and took the time to respond.

75% of respondents are real estate investors

I’m sure people have more specific predictions or thoughts on what 2010 will bring, and I’m going to leave the survey open for more people’s predictions.

Prices are up, interest rates are changing, CREA and the competition bureau are going head to head (and CREA will lose), inflation is kicking up and the US Economy is all over the place.

I’m buying. Why aren’t you?

NB- You’re welcome to use these images under my Creative Commons License, just link back to this post with the code below or something similar.
Image from <a href=http://www.chrisdavies.ca/2010/04/your-edmonton-and-calgary-2010-price-predictions/">*Your* Edmonton and Calgary 2010 Price Predictions</a> on <a href="http://www.chrisdavies.ca">ChrisDavies.ca</a>

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I get to talk with a lot of people who are new to investing. As a rule, they’re amazing and frequently very successful, particularly among the REIN crew.

Most of us know that one person who just won’t shut up. Since I’ve been one, and I’ve been exposed to quite a few lately, I’m going to have a little rant about the six attributes that piss me off the most I find most annoying.

http://www.flickr.com/photos/themadlolscientist/ / CC BY 2.0

1. You’re just about the money

If your profile picture on any social networking site includes you and your dream car/boat/trip or something else related to money, you’re doing it wrong. People might invest for just monetary reasons, but the best investors you can cultivate will care about you more than the money. They’re highly unlikely to look like the rich bitch you seem to be interested in becoming. Real estate investing is a long term game, so build relationships. Don’t waste your time trying to attract the wrong sort of people.

2. Cash-flow? Amortization? ROI? What the hell are you talking about?

Real estate investors have their own language. We’re almost as bad as stock brokers, lawyers and teh computer game g33kzors. Remember, every time you write something that other people are going to see, try this exercise. Keep a copy of a real estate glossary beside you, and try not to use any of the words in it. Or you can just wait till you’re done and just go through and delete them. Take a minute and flip through some of the ‘investor wannabe’ posts on myREINspace. Try to speak their language.

3. You don’t seem to think about other stuff

Please, stop spamming your Facebook/Twitter/email/LinkedIn with endless links to your own articles. Stop talking real estate at least once a month. I do that with my Song of the Week. For sites like Facebook, topics such as real estate or economics should make up no more than 1 update in 5, especially if you’re on there often. LinkedIn is a more professionally focused site, so you can be a little more frequent. Either way, never forget that people invest in you, so your online presence should reflect that.

4. You don’t add value or give back

I don’t care if you’re just starting out, you have an ability or knowledge which will support the group (whatever your group happens to be). Asking for tips, help and analysis is fine; doing it without giving back isn’t. Find one thing you can share/do/learn/work on, and give it back for free.

5. You don’t thank the people who help you

Here’s one idea: send everyone who helps you personally a handwritten card. Give it back to your investors, friends, team members and the other investors you know. Here’s another idea. Say thank you. Get used to doing it often.

6. You get distracted

If you’ve got a history of running from one money making scheme to another, or worse, from one Real Estate Investment group to another, you’re screwed. I hereby diagnose you with Bright Shiny Object Syndrome (B-SOS). Personally, a someone who had B-SOS, I knew I was on to something when my wife said, “You’ve been really focused on the REIN real estate stuff, and it looks like it’s really starting to work.” If you can’t be relied upon to stay the course, you can’t be trusted with $150,000 worth of investment capital.

Now if this list struck a chord with you, good. You might think I’m wrong, and have $50k in profits to show for it. My point is without playing it my way, for the long term, you’re not likely to make $500k. If you do manage it, it’s going to be lonely at the top.

If you’re doing ok, keep this one handy. We can all improve.

Focus on relationships. Focus on being consistent. Focus on building a stable business. All else will come.

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Here’s a list of the most popular posts thus far on my blog:

1. Edmonton Real Estate Prices Since 1962
   This post was the undisupted winner, grabbing ~800 views in the first couple days and links from several other sites. 
2. Six Steps to Finding Cashflow Creek
   This was one of my favorite posts to write because of the great feedback I got. I know of atleast two cases where people tried using this method to screen properties and ended up buying the properties they found. I also helped convert several people to firefox, which also makes me happy.  
3. Benjamin Tal on Canada’s Economy and Real Estate
   Originally with a video, now it’s just my notes on the presentation by Ben Tal at the July 2008 REIN Meeting. I love hearing Ben speak, and he’s as bang on as any economist can be.  
4. Top 10 Alberta Investment Towns
   REIN’s list of the Top 10 Towns to Invest In is always a popular topic, and this post was no different.  
5. More Fun with Stats- Monthly Edmonton Statistics
   This was the followup to my #1 post, and it’s got a sliding chart similar to what you may have seen on Google Finance.  
6. What to do with dead tenants (Also known as “Got Dead People?)
   I think the title says it all. What it dosen’t tell you is how many people have emailed me or come up to me at a REIN meeting to comment about it, or to ask advice with their own suicide/death/murder issue (as they said in Demolition Man, MDK-MurderDeathKill)  
7. What will Alberta be like in 2010 for Real Estate?
   This was a guest post from Thomas Beyer, and generated some good discussion. Maybe it’s time for some more predictions from Thomas… 
8. My Belize is in Italy
   The reason I invest in Real Estate, articulated as a fictional blog post from the future. I did this as an exercise at the February 2008 ACRE weekend in Vancouver.  
9. Where to Advertise your Properties (and some traffic tips)
   A resource for investors looking to advertise vacancies. I’ve updated it a couple times with more sites, and I put some traffic statistics too.  
10. The Black Triangle of East Edmonton Eats New Investors
    This was a guest post by Brent Davies, and I’ve heard from more than one investor they were saved from buying a hell-hole by reading it. Just like a ski hill, some areas are marked with a black diamond – experts only – and the Black Trangle is one of them.  

I startred tracking this blog somewhere around the 25th of January 2008, and it’s been gratifying to see how it’s grown. If you’ve got any ideas for new topics, questions or suggestions, please leave a comment or drop me an email. 

Thanks for reading!

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