Where it all began..
It was nice to stop in again at Poplar Grove Apartments in Unity, Saskatchewan. I was fortunate to visit our first apartment building over the thanksgiving long weekend, as my younger brother Cameron got married to Jenn Schroh on Saturday, Oct. 10th. The weekend was very emotional for me, seeing family I had not seen in some time, as well as the cornerstone of the town, Poplar Grove is visible when you first pull into town. The project was a massive project in a very run down shape when we purchased it in 2008. Although it was a massive amount of work, it really cut our teeth on the apartment business from a self management perspective. We took rents from $4000 per month to over $7000 per month in about two years before we decided to sell and reinvest out gains in Edmonton. It was a haunting and sad feeling approaching the project since our long time caretaker, and the subsequent purchasers caretaker as well Jim Imrie sadly passed away only a few short weeks ago. The apartment business, and any business is really all about people and Jim was the face of Poplar Grove. I learned much from reading and co investing but this project really defined the direction forward. It reminded me that the right building at the right price, can be profitable in any market, and as I seek for buildings today I am reminded of very similar circumstances as back then, and the excitement returns once again.