Chickasha Daily Express (Chickasha, Okla.), Vol. 107, No. 98, Ed. 1 Tuesday, July 15, 1997 Page: 3 of 8
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Before you delve into the
details, you should know
the basic varieties of
cabinet The one you
choose helps determine
how much you'll pay.
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Insurance
Companies on
Ponderosa
Drive. The site
is reportedly
going to be a
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shops and lumberyards.
That’s the best way to find out what’s
possible, what’s available and what it’s likely
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Attractive
yields lure
REIT investors
If income and growth are part
of your investment needs, take a
look at equity REITs.
An equity REIT real estate
investment trust is a company
that owns and actively manages
a portfolio of real estate such as
commercial and retail proper-
ties, hotels and apartment com-
plexes.
Over the last 12 months end-
ing June 30, the total return of
the average real estate mutual
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Some store displays may
boast that the cabinets are
“all wood.” That generally
means they're made of ply-
wood rather than particle-
board or some other sub-
stance. But few stock or
semicustom cabinets are
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Tuesday,
July 15,1997
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DEAR BRUCE: We own land in Florida. We would like to sell it to
buy our cemetery plot and headstones and also give our kids some of the
money. Will the sale be added to our income for that year? Can we give
the money to our kids as a gift? — KRS.
DEAR K.R.S.: It seems to me that we have things lumped together
here that shouldn’t be. If you sell the land for more than you paid for it.
less any expenses in the acquisition and sale, that amount will be taxed at
either your ordinary rate or the capital-gains rate, whichever is lower.
As to giving the money to your kids, there is no connection. You can
give as much as you wish to your children, but anything over $10,000 a
year per head will be subject to a gift tax. You can give an unlimited
number of gifts of $10,000 per year to any recipient of your choice. If for
example, one of your children is married, you could give $10,000 to your
Ichild and $10,000 to your child’s spouse, and your spouse could do the
same.
DEAR BRUCE: I have no one to turn to and hope you can help me.
I am a 25-year-old female college graduate and a caregiver to an elderly
man 24 hours a day, five days a week. I have an inexpensive apartment and
meet all of my obligations; however, I have no health insurance or other
benefits. I am trying to build up a nest egg in case my employer dies. My
real problem lies with the “American dream” —I want what others have,
i.e., a house and property. I would also like to go to graduate school.
I come from a poor family that never had money to invest, and I don t
know the first thing about investing. I looked in the yellow pages under
“financial.” Do I need a financial consultant or what? — C.I., Berea, Ky.
DEAR C.I.: Let’s go through some of the points you made. You
mentioned that you have no health insurance. For a healthy 25-year-old,
health insurance should not be terribly expensive, but the cost of
hospitalization could be catastrophic without it. Therefore, the first piece
of advice I have is to get yourself covered by a decent health plan.
You have worked hard to go through college, but instead of grad school
a, 11 %.
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Analyze the room carefully, noting every-
thing that’s annoying, inconvenient or just
plain ugly.
You may want to redesign the room
yourself, using pencil and paper or one of
the interior-design computer programs now
available.
Oryou may feel more comfortable enlist-
ing the help of a salesperson at a home center
or the designer at a kitchen-and-bath shop.
The more you know about your own
wants, and the more certain you are about
the styles and colors you like, the easier it
will be to design a new kitchen.
85
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Two big at-
tractions to
equity
REITs
They can
kick off a
nice yield,
and they
have the
upside per-
form a n c e
potential of
a stock
Chrysler Corporation recently
announced that Johnsons of
Chickasha, Inc. has been
awarded the prestigious 1997
Chrysler Five Star Award for
Excellence. Only one out of
every four Chrysler
Corporation dealers earns
Five Star status. To earn the
award, dealerships must
consistently earn superior
satisfaction ratings. Johnsons
of Chickasha, Inc. recently
completed a renovation which
included a new sign. (Express
Photo by James R. Nimmo)
AN- -----
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fund was
31.66 per-
cent,
according to
Lipper Ana-
lytical.
(Note:
Not all the
funds that
make up
Lipper’s real
estate mu-
tual fund
category
have portfo-
lios com-
to cost. Then you can begin to plan your
kitchen’s new look.
right now. I suggest taking some finance courses.
It may be difficult due to your present employment, but it would be
wise to apply for a credit card. Establishing credit is important, and
paying for everything with cash is not the smartest thing to do. Having
no credit history can be worse than having bad credit. If you want to live
out the “American dream,” you should realize that credit is an integral
part of it. There is nothing inherently wrong with borrowing._________
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prised only
I of equity REITs. Equity REITs,
by law, have to distribute 95
I percent oftheir income to avoid
I paying corporate tax. There are
other real estate companies you
may find in some portfolios that
are publicly traded but don’t
I qualify for the corporate tax
break.)
J Two big attractions to equity
I REITs: They can kick off a nice
yield, and they have the upside
I performance potential of a stock.
I “Over the last 20 years, eq-
I uity REITs have averaged over
16 percent per annum,” says
Robert Benson, portfolio man-
I ager of the Pioneer Real Estate
, long-term growth vehicles.” 'I Low interest loan developed for properties
Benson, who has been Area Banks and the Chickasha Eachparticipatingbankhascom- To participate in the program,
managing the fund since its in-I Main Street program Design Com- mined $100,000 toward the each applicant must first make ap-
ception in 1993, says it’s the mittee have joined to offer down- $500,000 loan pool. plication to the Design Commit-
fundamentals and valuations of twnbusinessandproperty owners a Area banks in partnership with tee. .
many REITs that make them so mens to make building improve- the Main Street Program include: An application can be attained
attractive. ments more affordable and economi- Chickasha Bank & Trust; First through any of the participating
“Rental rates are going up for caly positive. National Bank & Trust; Oklahoma banks or through the Main Street
businesses and apartments. If -E Low Interest Loan Program National Bank & Trust; Stillwater office.
■ , you’re a store in a mall and incentive package includes a below National Bank-Chickasha Branch; The application is a simple form
: business is going up, the mall market rateofrinterestonaloan and and Superior Federal Bank, FSB. which outlines the nature ofbuild-
■ landlord is getting more money. free architectural assistance. Loan terms include a maximum ing improvements and the esti-
i Vacancy rates are coming down In addition, the owner can expect loan amount of $10,000 with a matedcosts.
’ andit’sgettingharderandharder assistanceincreatingapositivevisual minimum loan amount $3,000. After approva lx Design
; to find empty space. So, there is change for downtown, as well as. The loan program also features a Committee, the applicant ap
I a basic demand for the real es- incresed value for downtown com- five year maximum amortization; proaches the bank oftheir choice
: Late product,” he explains. mercial property. and a six percent interest rate. to secure the loan. .
■ Kitchen remodeling jobs are not a simple undertaking
listheofficeandindustrialREIT. ____________ . . . . । ynLirea neaterthanreplacingcabinetscompletely.it
■ Liberty Property Ttustisthe By the Editor of Consumer Reports standard selection ofscyles, made to «• ar ™'" to bui|j cu!Wm diners or order Wt necessarily cheper.
* name of one such company in A kitchen is one of the most frequently dimensions. P LLtLen_ If new or refaced kitchen cabinets are in
the fund’s portfolio. Benson said remodeled rooms, even though it’s not a Since kitchens don’t come in standard themfroma actoryeusua roug ‘ 5 Vour future, we suggest you start your project
; I that not only does Liberty Prop-I simple undertaking. dimensions, installers use fillers — boards and-bath dealer. ■ mLp ng myines
4 I erty have a wrong track record, I Ripping out the old kitchen and installing matching the cabinet finish that take up the Expect to pay dearly (after all, you re get- yreaing g
it doesn’t face a lot of comped- . newonecreates quite a mess. And even a ^"Xvcen cabinets and wais. ting one-of-a-kind furniture) and to wait and visiting home centers, kuchen-and-barh
s I tion in the markets it is in. I modest renovation can be costly. . cn more than a month.
£ I Another arena he favors is I But the effort provides plenty of payback. toc ca metsan i e
! foil-service hotels. A bright, well-organized and attractive kitchen pieces can usually be deivt
I “The demand for foil-service is fun to live in and work in. ered in a few weeks. Small,
; I hotel space is extremely strong. I And assuming you keep the cost of the mid-priced stock cabinets
5 I Business travel is up consider- 1 renovation in line with overall property val- cost about $150-$200 per
• I ably and on weekends the lei- I ues in your neighborhood, you re likely to unit.
J l sure travel market is doing very I recoup more than 90 percent ofthe cost if you Semicustom cabinets
3 well,” he says. later sell the house. , ceyu
r I Kim Redding, portfolio man-I You’ll devote much of the planning and use “5
‘ ager for American Century In- money to cabinets, which, along with counter- stock styles and finishes, entirely of solid wood boards.
2 vestments, agrees. He likes the tops, have a high visual impact in the room, but are built to your specifications. -
• office sector because he feels that you want to be sure the cabinets are well- For example, you can have base cabinets Thebest you can ope or in stoc u me s
J I it is recovering from the mid- I made, since they’re subject to heavy use. built higher than the standard 36 inches or is solid wood for the door an " rawer ronts
: ’80s when there were for too In essence, a kitchen cabinet is nothing shal|Ower than the standard 25-inch depth. and the area that surrounds them.
* many office buildings around 1 more than a box with a door or drawer in the You can add or subtract inches in width. The type of wood used affects the cabinet’s
8 I not ii nant •02, I n F । । _ _ sti gu i thesel xeS. Delivery time is longer — a month or more price.
As for foil-service hotels. Before you delve into the details, you You be tempted to cut costs by refac-
• Reddingsaysthattherehasbeen should know .be basic varieties of cabinet. incyourexistingcabinetswithnewdoorsor
I I no new construction of full-ser- I The one you choose helps determine how for standard stock cabinets. g
M vice hotels for many years. “It’s much you’ll pay. Custom cabinets are made to order. You or front frames
t I the law of supply and demand. | Stock cabinets refer to a manufacturer’s your kitchen designer can specify the style. While we foun t at re acing s
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Bush, Kent. Chickasha Daily Express (Chickasha, Okla.), Vol. 107, No. 98, Ed. 1 Tuesday, July 15, 1997, newspaper, July 15, 1997; Chickasha, Oklahoma. (https://gateway.okhistory.org/ark:/67531/metadc1877154/m1/3/: accessed July 11, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.