Hydro Ottawa buys 10 run-of-river projects in Ontario, New York from Fortis + MORE Jul 29th

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Want to know real estate’s version of an urban legend? It’s the tax sale plot picked up for peanuts by a savvy buyer and sold weeks later for a tidy profit.
Paying next to nothing for a fabulous property sounds so enticing, but in reality it’s virtually impossible (this marketplace is now so competitive and filled with Internet savvy buyers). Still, tax sales continue to draw interest and attention because, let’s face it, who isn’t enticed by the tale of a waterfront property on sale for $60,000 in an area where cottages are selling for $250,000?
Despite promises of cheap land, it’s easy to lose your shirt in a tax sale property. Here’s a few tips for those considering a tax sale purchase.
What is a tax sale
“I’ve heard hero stories about people making huge profits buying and flipping tax sales properties,” says Michael Currie, owner of the Fort Nova Group, a real estate investment and education company based out of Nova Scotia, and an experienced landlord and real estate investor…

Investors will be parsing earnings reports and waiting to hear from the FOMC

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick

WASHINGTON – International Monetary Fund chief Christine Lagarde says the world economy is recovering but fragile and “faces some downside risks.”
In an online press conference Wednesday, Lagarde described the United States “a strong performer” and China “resilient” despite a recent drop in Chinese stock prices.
She also expressed optimism for the 19 countries that use the euro. The IMF expects the eurozone economy to grow 1.5 per cent this year and 1.7 per cent in 2016; it expanded just 0.8 per cent in 2014.
“The euro area is beginning to turn the corner … We have a more upbeat forecast than we have in a long time,” she said.
Lagarde called again for Greece’s creditors to reduce its debt burden. She said Greece needs to enact reforms that will make its economy more efficient and expressed confidence the IMF can work with Greece’s left-wing government, which has criticized IMF policies.
“There are lots of things that you say (in politics),” she said…

OTTAWA – Hydro Ottawa said Wednesday it has acquired 10 run-of-the-river hydroelectric facilities in Ontario and New York from Fortis Inc. (TSX:FTS).
Financial terms of the deal for the assets, which represent 30.9 megawatts of capacity, were not immediately available.
Run-of-the-river projects tend to be on a smaller scale than traditional hydro developments and are built along rivers with a consistent flow of water.
Hydro Ottawa said the New York assets have a combined capacity of 22.6 MW located in Lyons Falls, Dolgeville, Philadelphia and Diana.
The Ontario assets have a combined capacity of 8.3 MW located in Ottawa, Rideau Lakes, Kingston, Gananoque and South Crosby.
Hydro Ottawa delivers electricity to more than 319,500 customers in Ottawa and Casselman, Ont.
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