For information contact: AGMANN Properties International Ltd Mr. Anthony Pizzuti 186 Lincoln Street Suite 906 Boston Ma. USA 02111 tel: 617-426-7022 fax: 617-426-8180 e-mail:tpizzuti@alfanet.it
	PER LA VERSIONE ITALIANA FAI CLIC QUI

AGMANNProperties International Ltd. is a Boston based company for the promotion and management of income producing investment properties in Italy and the USA. AGMANN Ltd. further proposes its clients the daily managements of the properties acquired.

AGMANN Properties International Ltd. brings its knowledge and expertise of the US (New England in particular) and Italian real estate market to its clients, to establish a sound lasting relationship based on mutual trust, and orient them toward the best real estate investment opportunities.

AGMANNProperties International Ltd. brings to the attention of its potential clients the fact that the american real estate market is traditionally very active and historically the income producing are considered "Safe" investments, especially during inflationary periods. In average 60% of the american population live in rental apartments creating a strong demand for rental units. These properties are usually apartments complexes, and the apartments are not sold sigularly. The price of such residential complexed is derived mainly by the income the property is capable of

U.SBanks traditionally finance such investments up to 75% of it actual value. The financing are not provided based on other personal assets of the investors, but instead based on the 'real' income the building can produce yearly.

Risks of investing in a foreign country, whether in income producing properties or not, carries risks like: 1) not being able to assess and purchase a property at the right local market price; 2) 'political' risk or other events could influence the redditivity of a property, and consequently its price; 3) an unexpected and unforeseen vacancy of the property, especially in highly liberalized markets. Every potential investment needs therefore the assistance of someone competent of the local market, and not the same person that is proposing the deal. Evaluation of income properties require the full knowledge of all market potentials, taxations issues, vacancy rates, and other legal and financial issues of the local market.

	WHO WE ARE

	Real Estate Investments | Commercial and Industrial Space | Types of Real Estate Investments | Bank Financing

1) REAL ESTATE INVESTMENTS IDENTIFICATION PROCESS: € Identification of investors' criteria for investment; € Research of real estate investment propsals available on the market that best fit the inverstors identified criteria and budget; € Present as many properties as possible that fit the investor's strategy; € Analyze the properties with respect to short and long term investment criterias; € Analyze all strategic factors regarding the intended use of the investment, the quality of the location and local market evidence. PURCHASING PROCESS: € Conduct detailed financial feasibility analysis of the investment proposals; € Assess that the value of the propery in question is reflective of the current market condition; € Represent the investors in the process of price negotiation with potential seller; € Provide assistance with legal, fiscal, administrative and financial matters of the purchasing process; € Negotiate best financing packages available from local institutions. PROPERTY MANAGEMENT: € Improve the value of the investment through proactive and efficient propery management: € Provide day-to-day management activities of the properties; € Income optimization through the assessment of all potential improvements and marketing strategies that will increase the property's income and consequently its value; € Provide clients with regular periodical detailed summaries of all expenditures; € Selection of all tenants and mantainance of all relations; € Keep investors informed on all developments on the real estate markets.

2) COMMERCIAL AND INDUSTRIAL SPACE LEASING & RENTAL: Assist the clients in the process of identification of space to be leased for commercial purposes. € Advice clients on current, and expected future, commercial market conditions; € Present the most appropriate selection of space available; € Represent clients in the process of negotiation of a contract for leasing space; € Assist clients with all legal and administrative matters.

3) TYPES OF REAL ESTATE INVESTMENTS RESIDENTIAL RENTALS "Apartments": Rental Apartments: These residential complexes consist of structures of 6, 12, 40, 100 apartments located in a downtown area or in the nearby suburbs. All the expenses and taxes are paid by the owner. Generally the american construction techniques are to build primarely by a wooden structure. The oudside of the buildings could be anywhere from wood to concrete or bricks. The value, level of comfort, the commerciability of the building is not affected by which kind of material used. Properties of such type could contain: Studios 1 1 Bedroom 2 Bedrooms 3 Bedrooms "Condominiums" Contrary to the above dscribed rental apartments, the condominiums are usually purchased and sold on a singular bases, and the expenses are proportionated to the space of the apartment. Condominiums could be: Studios 1 Bedroom 2 Bedrooms 3 Bedrooms. COMMERCIAL INCOME PROPERTIES: Investiments in these types of building complexes are widespread in the U.S. The management of such coplexes is more stable and less intense than the management of residential ones, and the value is directly related to the Net Operating Income generated annually. The leases of tenants occupying these complexes run normally from 2 to 10 years. Commercial rental properties could comprise: Office Space (class A) Office Space (class B) Shopping Centers ranging from 4 to 50 stores Shopping Centers ranging from 50 to 100 stores

4) BANK FINANCING Approved financing, or mortgages, take effect the moment titles on the property is exchanged from the seller to the buyer. Banks finance up to 75% of the assesed value of the building, which is directly proportionate to the yearly net operating income the property can produce. Mortgages stucture could be with a 5 to 30 years ammortization period, and fixed or adjusting interest rate. These mortages do not require anything other than a partecipation of the remaining 25% (Leverage purchase) of the purchased value, and normally do not require personal collateral as form of security for the bank. EXAMPLE "LEVERAGE" PURCHASING METHOD : € Consider an investor that has $200,000 to invest, and lets assume that a building that can be purchased with $200,000 and generates $20,000 yearly of income can be found. If the investors would purchase this property all cash, the return on the investment would equal 10% annually, not including the capital appreciation over time; € Assuming now that the investor could obtain financing for 80% of the purchasing value, $160,000, and that such financing would cost 10% of the amount borrowed, $16,000 a year. In such way the investor would tie only $40,000 of available capitals (the difference between the purchasing price and the amont borrowed), but at the same time would benefit from the ownership and apprecciation of the full $200,000; € Subtracting now from the yearly income of $20,000 the $16,000 as financing costs, would generate $4,000 yearly that would still represent a 10% return on the $40,000 of the initial investment; € Assuming that five properties like the abovementioned $200,000 building were available, using the leverage approach would enable the investor to acquire $1,000,000 worth of buildings with $200,000 of invested capitals, diversify the risk in more than one location, and ultimately benefit from the ownership and apprecciation of $1,000,000.

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