Angus Cartwright Jr.

Angus Cartwright, Jr

Investment Counselor

123 Bricks Lane

Arlington, VA 24584

(504)568-8965

May 17, 1999

John DeRight

Judy DeRight

585 Investors Road

Arlington, VA 24584

Dear John and Judy,

Thank you for the opportunity to work with you on your investment plans. I am excited about the prospects that are available to you and look forward to helping you achieve your goals.

Enclosed you will find my report on the properties that I have located that I feel will fit your needs. I have carefully examined the potential for each property and feel that the recommendations included are in your best interests.

I hope you find the information useful and look forward to meeting with you to discuss your plans further. Feel free to contact my office to schedule a time that we can answer your questions and discuss any concerns you may have.

Sincerely,

Angus Cartwright Jr.

Executive Summary

This report analyzes the current investment goals of John and Judy DeRight and presents recommendations for diversifying a portion of their assets into real estate.

John and Judy DeRight

Ms. Deright and Mr. DeRight expressed to me an interest in diversifying a portion of each of their respective assets into real estate. After careful consideration of the goals for each of them, I was able to locate four (4) properties that met their initial criteria.

• Alison Green…..……….Residential Apartment Complex

• Stony Walk…………..…Commercial Office Building

• Ivy Terrace…………..…Residential Apartment Complex

• The Fowler Building..Commercial Office Building

An in depth financial analysis was done comparing these properties including financing needs, cash flow, profitability, and other measures to determine which properties best suited each investor given their stages in life. The recommendations that I will make for each is as follows:

• John Deright………………………………………………………………Ivy Terrace

• Judy Deright………………………………………………………………The