The video is about 40 mins.

Work Smart from Cian Whalley on Vimeo.

Reading through Wilson’s plans, they are detailed, and all have solid logical reasons behind all the decisions made. Read this excerpt from the beginning:

Prior to the introduction of public transit service, cities of necessity were limited in size and greatly overcrowded. People were compelled to live close to their place of daily work, for few could afford the up-keep of private means of transportation…..But the motor vehicle has created its own problems namely ever increasing street congestion and insatiable need for parking space. The street system inherited from the past is now fully used. The improvement of traffic conditions, however accomplished, and the provision of additional parking space, has up to the present, resulted only in the “bringing out” of additional motor vehicles to at once load to capacity the new facilities, with relatively little if any improvement over previous conditions….The service provided by a transit vehicle that is locked in congestion for minutes at a time, and takes double its normal time to make its half-round trip, is far from being satisfactory service to the passengers on board it who at least have some idea as to the reason for the slow out-bound trip, and is most unsatisfactory service to would-be passengers waiting for that bus to arrive on its in-bound trip, with no reason visible for its being behind time…On an evening in November last I boarded an Osborne trolley bus about five o’clock at Dufferin Avenue and Salter Street. Two very competent-appearing business girls were in the seat ahead of mine. As the bus inched along Isabel Street in a very extended traffic jam, locked in a phalanx of motor vehicles, I overheard one girl say to the other, “This settles it. I am going to buy myself a car.” No explanation was forthcoming as to how a car would expedite her home-going under the existing or similar circumstances.

Throughout the entire 80 or so page report there are tables, analysis of different technologies, and strategies for things like river crossings (above or below), and all are backed up with the mounds of research that Norman did for the city.

Shelved.

Apparently it hasn’t been the only plan that was done for Winnipeg either, over the past 50 years there have been a few. I think what we are seeing today, with the flip flops, and lack of vision and real planning is a result of our Winnipeg culture. Winnipegers are proud about the fact that they find deals everywhere.  They want things cheap.

Rapid transit does not come cheap, but it can transform a city.  It makes travel into the city down town easier, faster, and much more convenient. If you’re wondering why is the downtown effectively shut down at 5pm every day? Without rapid transit, and train stations there’s not enough of a critical mass of people to keep it safe. So everyone just avoids it and spends time in other neighborhoods.

Think about the West End for a moment now. Part of the problem with that area is that there is very little in the way of primary residences, ie there are a lot of rentals. In Real Estate we have a rule called the 900meter rule.  This rule essentially states that when Rapid Transit is finally created in a city, wherever there are train stations planned, within 900m of those stations the property values will increase somewhere around 30%. All of the sudden places like the West End start to look very attractive to people who wish to own homes. Businesses spring up around the stations. Culture, and commerce push the criminal elements out of the neighborhood, further increasing property values, which also increases the taxes collected.  This could happen all over the city (look at the map, and where the stations had been planned).

In my mind, there’s no reason not to start Rapid Transit NOW. But the way we’ve begun it is wrong. We’re re-inventing the wheel on it, and, at the same time not planning it out carefully enough.

If these RT plans fail, I for one will be moving away from Winnipeg.

The reason I’m following up with you is simple – we met, and I’d like to keep the contact fresh. I’m a Winnipeg Investor and am staying very focused on Winnipeg. Most of you that I spoke with seem to have an acute interest in Winnipeg, and I can’t say I blame you. The properties are extremely cheap, which makes breaking into the game that much easier. Even with the rent controls as they are, there are some gems out there where the ratios just work, and really make you give your head a shake.

If you have even a slight interest in investing in Winnipeg, I urge you to stay subscribed to this blog. Over the winter my plans are very simple – optimize and automate my existing properties, and analyze as many new ones as I can find. When April hits, I have made plans to hit the ground running, and will be buying more properties with a vengeance.

Now, I know you and I spoke about some of the opportunities that exist in Winnipeg, however it’s truly a lot more believable to see the numbers on paper. Using some of the education that REIN so graciously provided me with this past weekend, I’ve updated my analysis on my 5plex for you below.

Don’t know about you, but I’m liking the Cash on Cash Plus return. I also analyzed my duplex and it has a similar CAP rate, though the cash return is only about 50% (darn).

If you are still interested in Winnipeg, feel free to contact me back, or, simply stay subscribed to this blog. I promise you there will be no cash calls, advertisements, or anything other than a simple conversation between me and you.

Sincerely,

Cian Whalley
Somewhere Real / Real Investments
www.somewhere.ca

We own and operate 8 properties with 32 doors in Winnipeg, MB, Canada. While we prepare for public investments, our Real Investors will be writing about their experiences with the properties to better prepare you for Real Estate Investing. Our goal is to educate in order to create confidence. We will provide you the tools necessary to properly evaluate any Real Estate Investments.

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