X-Message-Number: 6060
Date:  Thu, 11 Apr 96 11:50:26 
From: dave <>
Subject: Alcor's building

I want to clear up a small error in Brian's posting where he said Alcor 
has a large mortgage on our building.  The amount is large about $500,000, 
but the relationship to value is no longer as large and we don't owe money 
to an outside company anymore.

Since the building is now worth about twice what we paid for it and the 
mortgage has stayed about the same amount, I feel the mortgage is now 
only about 1/3 the present value of the building.

And, we no longer owe the money to an outside company, we only owe 
money to Alcor.  Alcor now holds the mortgage.

The nice thing about this is that we acquired this with only a few hundred 
thousand dollars down payment and then benefited three ways:  We made a good 
buy, inflation in the area pushed the value up, our tenants are paying off
the balance off for us.

As predicted by some, this move has given us an increase in value 
of about $700,000 so far.  More important, the move has put our patients 
in a much safer area.  

Dave Pizer


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