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Hear Hot Property with Ozzie Jurock every Saturday morning between 8:30-10 am on CKNW AM980
Tip of the Week:
2/3/07
HOW TO BUY IN A RESORT....
First, remember the principle that a chairlift and a parking lot is NOT a resort.
Second, watch for the news: "Money being invested ... new high-speed chairs added ... new airport expansion." I.E. New airport – 20 minutes to Kimberley … 50 Minutes to Fernie, 2 hrs to Panorama.
Third: Look for the "two legs" - summer and winter uses. What of golf courses, lakes and other recreation than just skiing?
Fourth, when buying new, check out the developer: what has he built before? Can you talk to someone who has bought from him? How strong is his financing?
Fifth, timeshare is not real estate. Think about it: a 200-suite building needs 10,000 investors (it will NEVER get sold out). Sixth: Hotel-type units are not real estate. They are a business first and the onerous restrictions of some hotel investments CAN (and have) killed investments.
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