REAL ESTATE

The American- Russian Business Council has joined forces with its member, West Property Management LLC, to offer a program to its members involving the purchase and management of residential and commercial real estate in the greater Los Angles area. West Property Management LLC is managed by a team with over 16 years experience in the field. It's management speaks Russian, French and German in addition to English. The proposed program provides the following services:

1) Search for suitable property based on the buyer's requirements.

2) Once the property is identified and agreement is reached between the buyer and seller, and financing has been secured, West Property Management LLC, which is owned by a fully licensed California broker, will provide all the necessary brokerage functions (legal paperwork, escrow and title company paperwork) and close communication with our member buyer, to finalize the purchase. Except for the buyer's normal share of escrow and title insurance fees, all services provided above for our members are free of charge.

3) If the property is for purposes of investment and will not be owner occupied, then West Property Management LLC is ready to provide a full palette of services to the landlord/buyer. These include: the search for suitable tenants who have been fully screened, collection of rental payments, keeping tenant and landlord security and reserve deposits in a trust account at a bank, arranging for all necessary repairs and maintenance of the property and providing monthly detailed reports to the landlord as well as annual reports for tax purposes and other services as needed by the buyer/landlord. The fee for these property management services will depend on their scope as well as type of property managed and is subject to negotiation.

The program described above is also being offered to foreign-based real estate investors. The value of the proposed program will be significantly increased if a law, currently being considered by the US Congress, is passed. This new immigration law, if passed, will provide foreign purchasers of US real estate with a Green Card if the investment in real estate totals a minimum of $500,000. Several properties, each of which could total less than $500,000 individually can be purchased, as long as the total investment is at least $500,000. The law is designed to encourage investment in US real estate by foreigners in order to help in the revival of this important sector of our economy. We shall keep track of progress in the passage of this new law and inform our members, as well as foreign-based readers and potential members, if and when this law becomes a reality.

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