JANUARY 2011

We have had a strong finish to the end of 2010 and anticipate 2011 to be even better.

Here are some of the highlights:

1.       Finished renovating 13 of the vacant suites, the common areas, and the entrance to the 33 suite building in LP IV

2.       Building vacancy has been reduced from 39% to 0%. Our building is 100% occupied.

3.       Gross monthly rent revenue has been increased from $18,455 to $25,330

4.       Purchase price of the units will be increased by 10% at the end of March 2011

We had a very busy final quarter of 2010. We set a very aggressive renovation schedule for our 33 suite concrete building and are pleased to announce that we were able to complete the renovations ahead of schedule and under budget. All 13 of the vacant suites are fully renovated. The suites look great. We also painted the hallways and laid new carpet or new laminate flooring, and completed the renovations on the outside of the building. The building now has a new secure and modern looking front door and the new InvestPlus branded awning. To enhance the curb appeal of building and to increase security around the front entrance we removed several large pine trees. The building is in great shape.

Vacancy Dropped From 39% to 0%

Because of all the hard work, we’ve been able to reduce the vacancies from 39% all the way down to 0%. That’s right, we have a fully occupied building with an improved tenant profile.  As a result of the increased occupancy the building is now generating in excess of $25,000 a month in gross revenue, up from $18,000 per month when we purchased the building.  We are very pleased with all the hard work and effort that the entire team put into turning this building around in such a short time. And they were able to do it for only 70% of what we had initially allocated to the renovations. The remaining 30% will be held in escrow and used to upgrade some of the remaining suites as they become vacant.  If you want to view the renovations on YouTube, just click here:

LP IV Update January 2011 – The Metropolitan

We are actively pursuing new acquisitions and currently have 2 accepted offers – a 44 suite building and a 45 suite building. Both these buildings are located in Calgary and we are currently going through the due diligence process to ensure that they are the best possible assets for our fund. We will keep you apprised of the outcome of our due diligence as we move through the process.

The Unit Price of our Limited Partnership is Going UP!

Because the building has done so well and in an effort to reward our early investors we will be increasing the Limited Partnership unit price from $5000 to $5500 at the end of March. This still provides a little bit of time for those of you who wish to increase their position within the fund. If this is something you’d like to investigate please contact your financial agent, who’ll be able to assist you with the documentation.

2011 – Our Best Year Yet

We have a very positive feeling about 2011 for we are starting to see changes in the economy that point to a steady recovery. While we were still able to find great deals in the marketplace, we have noticed that several of our inspectors are now booking appointments 1 to 2 weeks in advance. Last year at this time they were able to inspect your building on 1 to 2 days notice – this change indicates that the sector is seeing renewed interest from buyers. With strong commodity prices and a loosening of credit in the markets we are starting to see more spending from several of the oil companies.  In our opinion, all this will translate into an increase in jobs which will lead to an increase in renters, driving down vacancies and pushing rents upward. Look forward to an exciting year in 2011.

Thank you for the support you’ve given us 2010 and look forward to working together in 2011.

Sincerely,

Domenic Mandato
Domenic Mandato, President & CEO
InvestPlus Properties Canada Ltd