Evan Musikantow

Michael,

It would be in your best interest to view the available spaces and contact the respective realtors who are representing them. A brief interview of the realtors who are familiar with the area will give you good insight as to the comparable rents and an opportunity to feel them out to compare their individual bedside manner. Thirty minutes with 3-4 of them may give a good comfort level as to who knows their stuff and may protect your interests as a client. It could be the best two hours you spend in this endeavor. Once you have found one who is experienced and you feel will represent your interests well, that realtor should guide you through the best terms and conditions available. Even if the londlords seem to be simple and honest, you should still have your lease reviewed by a competent attorney prior to execution. Your realtor should be aware as to what is customary in the marketplace in regard to the condition of the space as well as tenant improvement allowances, intial lease term, approrpriate extensions, and a right of first refusal. In the event your business prospers and you need more space, your realtor should be able to inquire as to the terms and viability of expaning into one of the adjacent spaces.

While we are not licensed in New York, we would be happy to refer one of our local affiliates.

Evan Musikantow
Musikantow & Associates
800-989-8198
480-483-6014 FAX http://www.musikantow.com

CONFIDENTIALITY NOTICE: The information contained in this email is confidential and proprietary information intended for the use only of the intended addressee thereof. If the reader of this email is not the intended addressee, you are hereby notified that any dissemination, distribution, or copying of this message is prohibited. If you have received this message in error, please notify the sender immediately and then delete this message and all copies and backups thereof. Thank you. All warrants and representations contained in the marketing materials are subject to change at the sole discretion of the respective builder or developer. All information is deemed to be accurate at the time presented, but under no circumstances guaranteed. - Sun Mar 9 2008, 20:25

Curt;

You will be best served by engaging the most competent local real-estate professional who specializes in the particular geographic area of the short sale you are pursuing. A good agent will identify and secure their commission in the purchase agreement. The Buyer's agent usually has the advantage if they are experienced and is familiar with the market and REO guidelines. The Seller's agent typically is selling in volume with a 1.5% or so commission and desires to close easy clean transactions with well capitalized Buyers and very little due dilligence. If your agent isn't on top of their game, you should seek out an agent who knows the market, area, and appropriate REO proceedures if you expect to take advantage of the available deals. The Buyer is not usually required to pay the commission.

If you have any further questions, please feel free to contact us directly:

Evan Musikantow
Musikantow & Associates, LLC
Keller Williams Beverly Hills
439 N. Canon Drive Suite 300
Beverly Hills, California 90210
Russ Lyon Realty Scottsdale
7150 East Lincoln Drive
Scottsdale, Arizona 85253
800-989-8198
480-483-6014 FAX http://www.musikantow.com - Fri Mar 7 2008, 20:16

Abby;

You can always count on a good urban investment walking distance to the best shopping areas such as Beverly Hills or the Melrose area. You will always have a viable rental alternative regardless how the market is performing. If your salary doesn't allow you to buy near Beverly Hills, as close to the Melrose or Beverly district will give many Duplex options to help cover your carrying costs. You will find that should a revitalization of a downtown become too oversaturated, you may be stuck in an upside down position if the developers cut their per square foot sales prices too far below what you pay for your unit. Remember, unless you are a savy real-estate investor or get in very early in the game, the real-estate developers will do their best to unload their product to please their lenders, not protect your interest. Engage a real-estate professional who is familiar with more than one area and can show you trailing comparables in areas that you expect to spend your valuable free time on your days or time when not working.


Evan Musikantow
Musikantow & Associates
Keller Williams Beverly Hills
439 N. Canon Drive
Beverly Hills, California 90210
800-989-8198
480-483-6014 FAX http://www.musikantow.com - Fri Mar 7 2008, 14:09