Fort McMoney2

[sanjayb]

Hey, a friend is wanting to invest in this and (as most people) am skeptic regarding the "if its to good to be true..."

I did a bit of research and am getting conflicting info.

This is what it is about. Just to prevent any further confusion - this company is Shire investments - not Berkshire....(i think from the research)

Please let me know if you may know anything so I can put that money elsewhere.

Cheers,

Fort McMoney Properties II - Fort McMurray, AB
Name: Fort McMoney Properties II
Issuer: Shire International Real Estate Investments Ltd.
Location: Fort McMurray, AB
Project Details: This limited mortgage syndication opportunity allows investors to invest in one of the hottest real estate markets in Canada, Ft. McMurray, Alberta. As a Shire investor you have the exclusive opportunity to join a group of like minded investors to purchase six, R4 zoned, residential lots.
Investment Details: • First-mortgage secured
• Minimum Investment $10,000: $100/unit
• Capital Required - $6.5 million
• Safe, Solid, Secure - Investment secured by land
• RRSP/LIRA/RIFF Eligible
• When the mortgage matures the original funds are returned to investors
• Matures September 30, 2009
• 15% annual fixed rate, paid quarterly, simple interest
Use of Proceeds: Purchase land / redevelop into commercial property
Term: 1 year
Exit Strategy:
Projected Return: 15%
Closing Date: when sold out
Minimum Investment: $10,000
RRSP Eligible: yes
Website: http://www.shireinvestments.com/projects/ftmcmurray002.php

[Canmorite]

Search Shire Investments on this board...

[ExtraSlow]

15% ain't all that hot, and that return isn't guaranteed at all.
I just don't see the appeal of this investment.

If they were projecting 15% per year for ten years, and IF I belived the projections, I'd be a lot more interested.

[HuMz]

Assuming all the permits have gone through and its a good location that it should be very safe.

Fort Mac has the highest average house rate in the country and theres a shortage of everything (land being the biggest).

A one year term at 15% isn't overly exciting though.

[The Cosworth]

Anything that sounds like a stupid catch name is retarded. Plus it is another Shire investments thing.

That would be like investing in McDicks.

[E36M3]

My advice is to never invest in anything that you have doubts about, ever. No more follow-up needed, and you won't lose anything.

Having said that, if it is well secured (there isn't enough detail to determine wether or not this is the case, but they seem to infer that it is) then 15% is a fantastic return, so you'd have to be quite skeptical.

[ZorroAMG]

I am doing a development in Strathmore, same syndication structure but with 27% annual return..slightly longer term though (2-3yrs, 5yr bond maturity)....1 year seems a little quick...what is the actual development?

My project is turning raw land in that we already own (226 acres) into serviced, subdivided lots, we will be in the ground in the summer.

www.wildflowerranch.ca

[old&slow]

^any chance this is real?

[ZorroAMG]

What, that MY development is real?

Check the site, call our office :)

[Kona9]

Originally posted by old&slow
^any chance this is real?

Zorro would NOT piss around with stuff like this! Very Trustworthy!!

[blownz]

Originally posted by ZorroAMG
What, that MY development is real?

Check the site, call our office :)

Do you work at/own Cancorp?

[ZorroAMG]

Yes.... :)

[blownz]

When were those projections done? Do you guys update them during construction for the investers to give them an idea how they are doing? Are lots in Strathmore really selling for $4500/ft? Or is that what you guys are projecting it will be in 3-5 years?

[ZorroAMG]

it's 4500/ FRONT foot, not square foot....

There ARE no lots other than ours for sale in Strathmore. There is a project selling everyday at that price, 20K from STRATHMORE (further from calgary), with no hospital, no amenities, no big retailers AND they are going to be selling the second phase at 6000/front foot.

Projections were done LAST week, it's the fine print after all the numbers on the site. We will be updating as progress happens, of course. We will be in the ground, end of summer.

5 year is the bond maturity but we will be paying it off much quicker than that as

a) the town of strathmore is begging us for progress and lots

b) we are in the ground at summer's end.

[TACO.VIDAL]

Not commenting on the specific project but who is moving into Strathmore and driving the demand for land?
(Especially with real estate markets stabilizing elsewhere in Alberta)

[old&slow]

^I'm curious to know this as well...

[ZorroAMG]

There are a number of reasons.

-The first is that for the avg price in calgary, $450,000 gets you an old house on a 30ft lot but gets you a NEW house on a 50ft lot in Strathmore.

-Not everyone WANTS to live in Calgary, much like people who buy in Airdre or Red Deer or Coquitlam etc and commute to the cities just for work but hate the traffic, pollution, crime etc that a big metro area inevitably provides.

-People in strathmore wont all commute to calgary, there is work with industrial companies in chestermere etc since most of all new expansion is going east. This will generate many employment opportunities.

-For those that WILL commute, the ring road on the east side of calgary will make such commutes much easier.

-This is the NATURAL progression of real estate valuation....quiet, great towns close to big metro areas are ALWAYS increasing in value if the town has growth potential and desirability:

-Strathmore has a hospital...cochrane, airdre, leduc etc do NOT
-Strathmore has 11,000 people with current infrastructure to support 40,000.
-Strathmore has major retail interest. There is a Wal-Mart and Canadian tire....big box retailers only develop in growing areas.

Those are some of the reasons...let me know if there is any other information you need. :)

[ExtraSlow]

Zorro, you missed on thing too. Strathmore is a pretty nice town.

[rc2002]

Plus, you pay lower property taxes, yet you can drive into Calgary any time you want to use services there.

[ZorroAMG]

Extra, I thought I covered it in a sorta roundabout way by listing the positives, but thank you, yes, Strathmore is a great town.

Richard, great comments, thank you...

[max_boost]

Hey ZorroAMG, is there a deadline to get into this investment opportunity?

[ZorroAMG]

Deadline being once we've raised the investment capital required....

I am in Calgary on tuesday afternoon til saturday. Let's meet if you are interested in our development. My contact info is on the site

[blownz]

I know 4500 was per front foot but I still thought that sounded high for Strathmore. :dunno:

I just personally can't imagine living that far out of the city unless you actually worked out there.

[ZorroAMG]

Yeah but you are young, like the vibrancy of the city and want to take advantage of all the urban amenities. A lot of people don't and want to spend their off-work days in a more relaxed environment. 4500 may sound high to YOU but it's market. 6000 for 20km AWAY from strathmore and Calgary is high....

[firebug]

I read the O/M and they -Shire states they own property ?
I returned from Maui and the property they claim to own is for sale . By a different owner.. Halama Street.
Century 21
The Paradise Ridge property they claim to be buying??
and claim they have a contract for 2 years ? It is for sale still and
no contract for the 2 years.

visit shireinvestments.com
check out the Hawaiifund .
Be Smart !!

[ZorroAMG]

Haha....SOOOO many shady investments right at our doorsteps....

Our project is quickly becoming the best land syndication in Canada. Why? Because we did our homework, own the land, have the approvals and offer great, realistic returns.

It's true about being careful especially when it comes to companies without the proove..

[firebug]

I hope this has worked out for you.
I would worry if it is like their latest project.
They Shire claim to have a contract with the owner to purchase Halama Street for 2.5M and the property is listed for 1.5M .
Shire doesn't even have the property for sale? What ??

Yes visit their website and check it out!!
shireinvestments.com

CalgaryFirebug

[Jim Rome99]

This is a terrible investment. All of the plants in Fort Mac are back to a 4/10s schedule, which means people are making less than half what they were this time a year ago. The building trades have already agreed to a 6.5% wage cut to keep Suncor's Voyageur project above water. That place is going down, down, down.

[old&slow]

^^^Your info and my info are quite opposite. Suncor has hired and so has Flint.(500 guys)
Syncrude is also going strong! But maybe my source is not so good!

[Jim Rome99]

Yeah, they've hired more guys. But they're working a 4/10s schedule, which means you get paid 80 hours every two weeks. If you're working a 10/4 schedule, you get paid 125 hours every two weeks. I was working there for most of 2008, we were working 18/3s and 24/4s - there were months where I was CLEARING twenty grand. Now? Four to five thousand per months clear.

[Cos]

oil is up, imperial is looking at projects starting up again, apache is waiting until contractor prices come down then they have a few starting up. I have a few friends who are project accountants who just happen to have become busy lately.

My info is the same as old&slow. Yes people wont be raking in 300,000 this year but people are going back to work.

as for this investment, who knows.

[blownz]

Originally posted by ZorroAMG
Haha....SOOOO many shady investments right at our doorsteps....

Our project is quickly becoming the best land syndication in Canada. Why? Because we did our homework, own the land, have the approvals and offer great, realistic returns.

It's true about being careful especially when it comes to companies without the proove..

How is your project coming along? Behind I would assume since originally you planning on starting last year and still haven't. And with land prices down and it looks like Strathmore forcing you guys to lower density are the returns going to be down significantly? Or is the time frame just going to be longer?

*disclaimer* This is actually a genuine question even though typically our posts are not...uh...friendly... :D