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1 Some dream of a lifetime, other accedent there!... Become owner The best investment opportunity real estate of the decade...

2 Summary I. Rental property investments in Las Vegas: P3 II. To become a property owner in the USA: III. The purchasing procedure IV. Tax system in the USA: What you need to know! P4 P5 P6 V. Various forms of purchase P7 VI. Frequently-asked questions: VII. Las Vegas area by: P8 à P13 P14-2 -

3 I. Rental property investments in Las Vegas: Investors prefer properties that have been seized by the bank and which are known as Bank Owned, Foreclosures and REO (Real Estate Owned). These properties were seized by the banks as the owners could no longer pay their mortgage. The work of these banks is not to manage them or keep them. They want to get rid of them as quickly as possible and reinvest the money in other financial products. Certain banks are thus prepared to sacrifice these properties and sell them at unbeatable prices. N.B. This does not mean that all properties seized are necessarily bargains: certain banks do not view selling properties in the same manner. Some properties are indicated at certain prices and then overnight the bank drops the price by 40% to find a buyer within a week. This is where INVEST LAS VEGAS comes in. We are able to give you the price the property was bought at initially, how much it can be rented for and negotiate with the bank to obtain the best price possible for you

4 II. To become a property owner in the USA: All you have to do is come and see us and spend a day or two with us so that we can show you our favourite residences. Documents required: l A passport l A credit card (which will also act as a second identity card) l A letter from you bank that has been translated into English certifying that you have the amount of money you would like to invest in the same account. (Your bank will provide you with this document). Visit: l During this visit, we will open a bank account in the USA for you free of charge. l We will pick you up and drive you back to your hotel. l We will spend an hour or two explaining the current market and our work methods. l Depending on your wishes, we will show you our favourite properties and residences over one or more days. l We will spend an hour or two on the properties visited in order to provide you with the best advice possible (price / return on investment) l We will draw up a list of your favourite properties l We will send the offers for these properties and we will have you sign the requisite documents (you will be required to leave us a down-payment check which will be kept by the lawyer and deducted from the purchase price). We cannot guarantee that we will be able to buy the properties you have seen during the visit (as the market is highly competitive) but rest assured that we will find a similar property for you. Once you have visited us, we can easily work together at a distance

5 III. The purchasing procedure As far as our agency is concerned, assisting our clients is very specific and requires a great deal of time and expense on our part. This is how we have built our reputation in French-speaking countries. We will endeavor to provide you with a reply to all your questions, including those that concern your personal interests, and find the solution that is the best adapted to your family situation. We are thus able to offer the following: l Once the property or properties have been chosen, a home inspection by a professional for $250 l Once this is finalized, two scenarios are possible: with or without renovation work. l If work has to be carried out, you may choose and work directly with the professionals. l Otherwise we can take charge of the work. In such a case, we request quotes, choose the suitable materials and provide you with overall quotes. Once you have accepted the quotes and once we have received your payment, the work will begin and will be monitored by our agency. If articles are missing and have to be bought (for the kitchen and bathroom, and safety equipment), we are able to purchase the elements which can be either new or second-hand and have them fitted for you. When the property is ready to be lived in, you will have already decided if you wish to occupy it or rent it. In the second case, we can deal with the partial or complete rental of the property. Rental management fees are equivalent to 8% (monthly rate) of the rental amount. (Management fees are not due if no rental amount is paid). This includes: l Search for renters and verification of their creditworthiness Indeed, as we are putting your property up for rental on the Nevada market, it is highly likely that a real estate agent that does not work for our company rents your property. In such a case, a commission of $300 will be charged by the said agent. l Several visits until the property is rented. l Preparation of the lease and schedule of condition. l Collection of the deposit and 1st month s rent. l Monitoring of monthly payments. l Possible repairs unless they are incumbent upon the tenant. l Reminders concerning the payment of unpaid rents served by bailiffs. l Eviction by a bailiff if required. l Placing of the property back on the rental market and henceforth. l Monitoring of your accounts (a balance sheet will be sent to you if you so request) l Management of bills - 5 -

6 IV. Tax system in the USA: What you need to know! We are also able to keep your income/expenses accounts and file your tax declaration ($100 per property and $50 per company) with the deduction of the costs you are able to prove. N.B.: It is impossible for us, as any accountant will tell you, to keep your accounts if we do not have your bank statements. We have a procedure here which allows us to consult your statements, with your consent, without being able to use them for any transaction whatsoever. Your bank manager will be able to confirm this for you. You will naturally be able to monitor your accounts on the Internet. However, if you prefer, you may look after your accounts yourself. We can prepare your file and obtain your international tax identification number (ITIN) which corresponds to a Social security number without which you will be unable to do a great deal in America. The American Inland Revenue Service (IRS) will provide you with this number to enable you to declare your income at the end of the year. For those who form a LLC, each company will receive a personal number called EIN (Employer Identification Number). We will personally deal with obtaining this number which is to be used at the end of each tax year. We will register the purchase and property declaration for you and will facilitate the recognition of your signatures by the authorities with the consent of our in-house lawyer. In addition, you will be able to choose the work you would like us to carry out for you based on the enclosed list of tariffs

7 V. Various forms of purchase You may opt for various possibilities: l Purchase in your name or in the name of the couple. In this case the bank account will combine both your private details and the rental revenues/expenses. l Purchase by a LLC (which is the equivalent of a French SCI) l Purchase by a trust in certain specific cases. All these possibilities will be explained to you orally. These explanations are included in the lump-sum price which was given at the beginning. Regarding the formation of a company, either a LLC or TRUST, we are able to deal with this matter for a fee of $600. A few further details on the LLC and Trust: l The LLC allows you to protect your assets (legal action, accidents ). It is the equivalent of the French SCI. l The Trust allows you to assure a smooth distribution of your estate at low cost. Moreover, it also enables you to settle the manner in which you bequeath your asset to your heirs

8 VI.Frequently-asked questions: Why should we buy in Las Vegas now? Prices reached their lowest in March 2009 and should not drop below as investors have already started buying many properties since the election of President OBAMA. It is during a crisis that we make the best deals. Don t wait until the market rises and make the best deals now. What is the procedure for buying a house in Las Vegas? 1. You ll receive the particulars of the housing available by from our agency. 2. You come and spend 1 to 3 days in Las Vegas to visit the houses with us. 3. You need to open a bank account in Las Vegas (free and can be managed at a distance by Internet) 4. We submit a standard written offer to the vendor/bank/promoter with a downpayment check (normally between $1,500 and $4,000 depending on the price of the property) and a copy of your bank statement providing proof of the funds. 5. Once the offer is accepted, we will submit the file to the lawyer. 6. We contact a home inspection company which will carry out a comprehensive schedule of condition of the house. 7. Once the money is transferred from your account to the lawyer s account, the file will be closed and the title of the property will be transferred to you (normally between 10 to 15 working days). N.B.: to transfer money from your American account to the lawyer you have to be physically in the States. If you are not in the States, please transfer your funds directly to the lawyer. 8. The original down-payment check will either be refunded to you or deducted from the cost of the house. Do I require a special visa if I want to own a house in Las Vegas? No. How do I open a bank account? This is quite simple and quick. You need a credit card (it acts as a second identity card) and a passport. However, you have to be physically present to open the account. What are rental income ratios like in Las Vegas? Are rents guaranteed? Rent assurance does not exist in the United States. Generally speaking, rental income ratios vary between 5 to 13% according to the type of property but this is not a guarantee and the American law prohibits us from giving this type of assurance. If someone guarantees certain ratios it is probably a swindle

9 VI.Frequently-asked questions: What will I have to pay in lawyer s fees if I purchase a property? What percentage does this represent? If you purchase a property you have to pay between 4.5% and 5% in lawyer s fees and various purchase costs. Generally speaking, the more expensive the property the lower the lawyer s fees as a percentage. They generally represent a minimum of 3,500. If I sell my property after 3 years, how much will I have to pay in agency fees? Do I have to pay taxes to the State? The State will take 15% on the capital gain. And to sell you property you will have to pay a total of between 8% and 10% in lawyer s and agency fees. If I want to take the money out of the United States is that a problem? No, that is not a problem. Papers will have to be signed by the bank for the transfer order. Am I entitled to a working permit in the USA because I own property there? No. On the other hand a business which complies with certain rules will allow you to obtain a working permit. We have clients that used our services to buy a business and settle in the USA. How much does insurance cost? Between $300 and $450 / year for an apartment. Between $600 and $800 depending on the size of the house. (prices given for information purposes only and depend on the type of insurance chosen) Will my tenants be obliged to take out insurance? If yes, who verifies? We cannot force them to do so. However, it is specified in the lease that they must do so Why do we need to use a real estate agent in Las Vegas? 1st advantage: The purchaser does not pay the agency fees. (The agent is paid by the vendor. Generally speaking, there is always an agent who represents the purchaser and another agent who represents the vendor. Agents have the duty to represent their client s best interests.) 2nd advantage: The agent who represents the buyer has the right to show all the houses that are for sale on the market and not only those which he has obtained through an exclusive agreement. Indeed, real estate agents use a computer system called MLS (Multiple Listing System) which lists all the properties that are for sale by the various agencies. In this way the commission is shared between the agent who represents the purchaser and the agent who represents the vendor. This opens up the market and enables the vendor to find a buyer more easily. It also means that a buyer does not have to contact each agency to see which properties they have for sale. 3rd advantage: A local agent is better acquainted with the market and the laws and customs

10 VI.Frequently-asked questions: Do I need a bank account in the USA? It is better to have one. You will need a bank account in the USA to place the money for the down-payment, although the down-payment can be transferred directly from your country to the lawyer. If you are buying a secondary residence, you will need to have a bank account to pay your condominium fees, insurance and property taxes. On the other hand, if you are going to buy property to rent it you must have a bank account in the USA so that we can deposit the rents. We work closely with the Wells Fargo bank. You only need to open a Free Checking Account which can be managed on the Internet. Furthermore, the Wells Fargo has branches throughout the majority of the United States; Can I come and spend two days to look at properties and then close the file from my home in France? Yes, if you take out your loan in your country or if you pay cash. We advise you to come and visit the properties but once you have made up your mind or selected your investments, we can submit the offers and complete the transaction or transactions without you having to come back to Las Vegas. We will deal with all the paperwork for you. How long is the withdrawal period? In order to protect you, the offers contain a seven-day withdrawal period. During this period, we ask a professional to carry out an inspection of the property to ensure there are no hidden defects. If you cancel the sale during this period, your down-payment will be given back to without the payment of any penalties. If you cancel the sale after this period, you will lose your down-payment but will not be required to pay any other penalties. What does the return on investment represent? We are not legally allowed to indicate a precise figure. However, we will provide you with all the information so that you can carry out your own calculations. Are there any warranties on the property I am going to buy? If the property is in Foreclosure or has been seized by the bank, the property will be sold AS IS. The bank thus relinquishes liability for any or all hidden defects that may exist in the property. HOWEVER, before finalizing the purchase, we ask a certified professional to carry out an inspection of the property to detect any or all anomalies during the withdrawal period (7 to 10 days). We are legally bound to inform you of any anomalies that are found by the inspector before validating your investment

11 VI.Frequently-asked questions: What is the amount of the down-payment and who is it paid to? Down-payments vary depending on the purchase price. They are set by the vendor but can be negotiated. Generally speaking, for a purchase of $150,000 the down-payment is equivalent to $3,000, from $200,000 to $500,000 it is between $5,000 and $7,500 and above $500,000 it is equivalent to $10,000 or more. The down-payment is paid to the lawyer. How long do we have to finalize the transaction? First of all, offers are always made in writing. After the vendor has accepted your offer, you will have approximately 30 days to close the transaction. However, there is nothing to stop you closing the transaction in 10 days if the money is available immediately. Often, the earlier you can close the sale, the better your chances of negotiating the price. You can also request for 45 days or more but your offer may not be ideally placed if you are competing with other investors. What happens if we do not close the transaction in time? This can be negotiated. Often the vendor imposes a penalty on the buyer for each day the transaction is not closed. Generally speaking, the penalty represents $100 per day. However, the vendor also has the right to cancel the transaction. What do we do if work needs to be carried out on the property? We work closely with a company which can carry out all minor jobs at a good market price. For example: l Change the carpet. l Lay tiles or parquet flooring. l Carry out maintenance on swimming pools and gardens. l Paint walls. l Modify the layout of certain areas of the property. Once your investment has been made, what costs will I have to pay? You will have to pay the property tax every three months or once a year. Home insurance on the property and condominium fees if you buy a condominium on a residential estate. If you decide to rent your property, you will have to pay a tax on the profits and management fees. All in all, this represents a total of 3 months rent

12 VI.Frequently-asked questions: Who deals with the rental of the property? To ensure that your investment is even more profitable, we have a rental department that can deal with all your rental matters: l Rental ads in the local newspapers. l Ads on the internet. l Showing future tenants round the properties. l Verification of the potential tenants creditworthiness. l Drafting of the lease. l Drawing up of the schedule of condition. l Collection of rents. l Property management. l N.B. 6,000 new inhabitants arrive in Las Vegas each month. l We generally rent properties between 1 and 6 weeks after we have closed the transaction. How long does it take to receive a reply once we have submitted our offer? Generally 1 to 2 days for new houses. It can take up to 10 working days if the houses belong to a bank (seized by the bank). You do not have to stay in Las Vegas. All written documents can be dealt with by fax and . How many offers do I have to send to be certain of closing a transaction? Due to the high number of investors that are currently present on the real estate market in Las Vegas, we recommend that you submit between 1 and 4 offers. Who carries out the home inspection? We work with several certified companies which inspect the houses and draw up a schedule of condition. The cost of an inspection by a reputable company represents between $200 and $300. What costs will I have to pay once I have bought a house in Las Vegas? A. An annual property tax: between $1,200 and $3,500 (depending on the property) which is payable every quarter. B. Home insurance: approximately $350 per year for an apartment and $700 per for a house. C. Condominium fees: between $30 and $170 per month depending on the type of housing (house/apartment). They can represent $250 per month for luxury residences. D. Property management costs (if you decide to rent): 8% of the monthly rent collected. E. Rental income tax: this is divided into tax brackets (it all depends on the quantity of properties you buy)

13 VI.Frequently-asked questions: What official documents should I bring to Las Vegas during my visit? Passport, bank statement (in dollars) or a letter signed by your bank confirming that the money is available for the purchase. And if I want to carry out repairs or renovation work on the house I buy? We are in contact with contractors who can carry out such repairs, change carpets, carry out plumbing and electrical work, paintwork, etc. We can also coordinate this work for lump-sum fees that are set depending on the quantity of work to be carried out. How long will it take to find tenants? Generally between 2 and 6 weeks. What is the term of the lease? The majority of tenants sign a one-year lease. Other tenants ask for a six-month lease but we recommend a one-year lease. Can I rent my house or apartment on a weekly basis? Yes, but this will not be very successful as hotels offer very low rates. In addition, many condominiums prohibit rental leases for less than 6 months. What happens for example if the air-conditioning breaks down while the house is rented? Our property management office will deal with the problem. The tenant calls our office and we will take care of the repairs immediately. If the repairs cost more than $350, we will ask for you prior consent. What guarantees do I have that the tenant will not destroy the house when they leave at the end of the lease? We ask tenants to provide us with one month s rent as a deposit at the beginning of the lease. We only pay the said deposit back after we have verified the state of the property once the tenants have left. Can I increase rents after a year? Of course. There is no law in the state of Nevada that limits rents. You can ask for the rental amount you wish. However, we recommend that the increase is on a par with the current market value. Will your agency be able to help me sell my house in due course? Naturally. When you are ready to sell and when the market is favorable, we will take care of the sale of your house at the highest price

14 VII. Las Vegas area by: For targeted offers, thank you to indicate your areas of research

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