| Show cY li r mi i i Theres There's s Gold in inI in I t Them Hills Hills' fv i. HI dl H 4 I i I By Joe Keddington RE Instructor The spectacular mountains mountains mountains moun moun- around the Salt Lake City area are fast becoming becoming becoming becom becom- ing a haven for speculative real estate buyers Any developed mountain area within one-hundred one miles of the city is prime investment investment investment in in- vestment material Recreational lots 1 to 5 acres in size with water and power and time-share time condominiums are the hottest items Precautions are necessary necessary necessary sary in buying mountain property however In time-share time it is important to know what the yearly fee is and how it can be raised in the future fu ture It is also important to understand who will manage the condominium and for how long In buying a lot the following following following fol fol- lowing ten rules apply 1 1 to 5 acres in size 2 Lodge swimming pool horse area etc 3 Water and power to each lot 4 Approved for septic or sewer system 5 bili ty year round either by car or snowmobile 6 Near a national forest 7 Fee simple warranty deed ownership 8 A property owners association 9 Restrictive Restrictive Restrictive Re Re- covenants 10 Control over property taxes I might caution you at this point to not buy isolated isolated isolated iso iso- pieces of mountain ground in undeveloped areas This type of property property property prop prop- erty does not appreciate in value quickly and is hard to resell New regulations by the government agencies both local and national have created a shortage of mountain property in developed developed developed de de- areas Permits for new 1 to 5 acre improved si sites tes are getting so scarce that in the near future actual actual actual ac ac- ownership of a cabin si site te near Salt Lake City will be a thing of the past 7 10 year payment contracts contracts contracts con con- tracts are common and many time shares and lots can be purchased for as little little little lit lit- tle as 25 10 percent down The appreciation on these lots and time share once they are all sold is almost unlimited You can also use these items to enrich enrich enrich en en- rich your style life-style while they appreciate in value So if you are looking for something to do with a small amount of cash this investment area is still open to the small investor Take a look Theres There's gold goldin in them hills N Next ext week we will talk about investment trusts Happy investing |
