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Investing in North Georgia Blue Ridge Mountains
Updated 11-03-07   This information is to be used as merely an example.  Figures must be adjusted to reflect current market conditions.
Use other people's money$$$  Let's say you purchase a home in the North Georgia mountains for $300,000 with a 10% down payment of $30,000.  Homes in Fannin county are appreciating between 10 to 15% per year (even in this market change). Appreciation rates have been as high as 18% to 37% even though the market is adjusting and prices are leveling off, appreciation rates are still incrasing.  Using a conservative middle range of 13% annual appreciation, your home will go up in value $39,000 in one year.  Take this $39,000 and deduct the down payment that you made of $30,000 and this means that you have gained $9000 in worth that year!  Gained!!!  This is referred to as a cash on cash return.
What about the interest on the loan?  Well, that's where rental income can pay off.  Let other people pay the mortgage!  A typical example of the cost to maintain a 2nd home based on a home purchase of $300,000 with a 10% down payment using 6.5% APR (APR is the true interest rate).  An approximate average of expenses incurred are:  ... more

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