D16 The Salt Lake Tribune Options Abound in Q BUSINESS Real-Estat- Sunday September Investment Trusts e I recently began reading a book on real estate Investment trusts (REITs) Are they a good Investment? What are some of the REITs? — SR A The National Association of Real Estate Investment Trusts (1129 20th Street NW Suite 705 Washington DC 20036) defines a REIT as a "corporation or trust that combines the capital of many investors to acquire or provide financing for all forms of real estate" A corporation or trust that qualifies as a REIT is exempt from corporate taxation Most states honor this federal tax exemption which means that nearly all of a REIT's income may be distributed to shareholders Taxes are then paid at the individual shareholder level REITs must meet numerous requirements in order to qualify for this favorable tax treatment one important criterion being that the REIT must pay annual dividends of the equal to at least 95 REIT's taxable income REITs are unique investments They are not limited partnerships nor are they stock corporations Instead muthey are similar to closed-entual funds 1992 6 copy of the National Association of Real Estate Investment Trust brochure entitled Real Estate In- vestment Trusts: Frequently Jay Asked Questions About REITs The association will also send you a list of the 200 publicly traded REITs Q I'm interested in reverse mortgages Where can I get information on them? — PF A A reverse mortgage or home JGoldingeir Moneywatch real estate investment Equity REIT revenue comes from rental income A mortgage REIT loans money to real estate owners with revenues coming primarily from interest earned on mortgage loans Hybrid REITs maintain a mix of equity and mortgage investments Of the 200 REITs available approximately 42 are equity 48 are mortgage and 10 are hybrid According to Mark Oliver president of PRA Securities Advisors (900 North Michigan Ave Suite 1000 Chicago Illinois 60611) United Dominion Realty Trust Property Trust of America and BRE Properties are three of the top apartment property REITs For retail and community shopping centers Oliver rates Burn-haPacific Properties Federal Realty Trust and IRT Property Company as top prospects As always consult your tax professional before making any investment decisions For more information on REITs write for a complimentary d Currently the nearly 200 REITs available to investors hold assets totaling $43 billion with a majority of these REITs trading on national exchanges REITs are classified into three different categories based on the nature of the mi equity conversion mortgage iSAVli (Jay Goldinger is Chief Investment Strategist for Capital Insight Inc For a personal reply to your questions write PO Box 4092 Beverly Hills 90213) Calif h &' i fver 6000 Office Products Furniture Computers Busines Electronics and Drastically Discos stores Open to the public Supermarket-siz- e Canon Starwriter 70 Save SSI 9 9 6 Word Processor Canon x 3 (HECM) is a special type of mortgage that allows homeowners 62 or older to tap into the equity in their home With an HECM homeowners may borrow against the value of their home and receive loan proceeds according to their selected payment plan Borrowers do not need income to qualify for a reverse mortgage and do not need to make monthly repayments The lender can only look to the value of the home for repayment The Federal Trade Commission offers a free brochure called Facts ForConsumers On Reverse Mortgages (FTC Public Reference 6th & Pennsylvania NW Washington DC 20850) t i 50000-wor- d dictionary thesaurus 45000-wor- d Bubble-je- t 486SX 100MB Computer 486SX 20 MHz 2 MB RAM 107 MB Hard Drive Dual (loppy drive Monitor not included Catalog List Price $2499 99 Software includes hm MS DOS 50 Microsoft Windows 31 Lotus Worts' t printing Catalog List Price $719 95 OfficeMax Packard Bell Ax eel 420 Save 52 display e floppy disk No membership fee T5llP 99 $1 S237 PACKARD BELLES tm Mri M Brother Fax 700 5:ave Fax Machine £?Q°o Automatic paper cutler automatic document feeder FaxTel and TAD interface Save $16496 LCD display memory Panasonic 164' paper roll capacity Polling system l Catalog List Price $999 99 CASIO Eveday GROUP 801-226-82- n n n en & £ DDDDD DDDQD V aBDBD OPINION POLLING Panasonic Eve7day Low Price Save fi2ft96 Panasonic KXT 3848 Cordless Phone Sound charger remote change battery Up to 1 000' range Catalog List Price $12995 m j 99 P46 si? 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