The initial Discussion Board topic for our 6th week of class (2/23-3/1) focuses on the intricacies of purchasing real property and personal property, To make things a little easier on you this week, I have rolled two (2) formal assignments and a discussion board into one!This should make things easy and clear going into the 2 minute warning before "half-time" of the semester, to make a lame football analogy.

There is one problem: I don't have enough money or time to take you all on an all-expenses-paid trip to the swankier parts of New York City and New Jersey (and I don't even think it's recommended we anything like that with COVID-19).

But - with virtual reality type platforms becoming more and more common - I decided on having you accompany me on the next best thing: a virtual trip to some HTM establishments in those areas of the United State's East Coast.

For the Assignment and Discussion Board forum, please do the following:

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After reading the assigned pages in Chapter 6 of Barth (2017), please chooseoneof the following establishments to purchase outright if money were not an issue -You have a lot of options and can take multiple basic tours of each property using the links provided!

(a)Russian Tea Room- New York City, NY

http://www.youvisit.com/tour/russiantearoomnyc

(b)TheBroomeHotel- New York City, NY

http://www.youvisit.com/tour/broome

(c)Tavern on the Green- New York City, NY

http://www.youvisit.com/tour/tavernonthegreen

(d)414 Hotel- New York City, NY

http://www.youvisit.com/tour/414hotel

(e)The Nassau Inn- Princeton, NJ

http://www.youvisit.com/tour/nassauinn

(f)The Flatiron Room- New York City, NY

http://www.youvisit.com/tour/flatironroom

(g)Sushi Samba West Village- New York City, NY

http://www.youvisit.com/tour/sushisamba

(h)Hotel Indigo- Newark, NJ

http://www.youvisit.com/tour/hotelindigonewark

(i)Injerna- New York City, NY

http://www.youvisit.com/tour/injeranyc

(j)Dock's Oyster Bar- New York City, NY

http://www.youvisit.com/tour/docksoysterbar

(k)Cask Bar & Kitchen -New York City, New York

http://www.youvisit.com/tour/casknyc

(l)Sarabeth'sCentral Park- New York City, NY

http://www.youvisit.com/tour/sarabethscentralparksouth

(m)Felice 64- New York City, NY

http://www.youvisit.com/tour/felice64

(n)MadibaHarlem- New York City, NY

http://www.youvisit.com/tour/madibaharlem

(o)ChelseaRistorante- New York City, NY

http://www.youvisit.com/tour/chrnyc

(p)Forcella- New York City, NY

http://www.youvisit.com/tour/forcella

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IN A WORD DOCUMENT:

(1) Describewhyyou are choosing to purchase that particular establishment, as opposed to the others - even if this isbased upon nothing more than a general idea of what the business entails and a basic "tour" of the property.

(2) Discuss what items seen through the virtual tour would be consideredfixturesthat would come with your property upon sale (it may help totake notes on a pad and paperduring your tour).

(3) Discuss what items would be consideredpersonal propertyfor which you would want to negotiate via separate transactions(again,notes would be helpful)

You may group objects together, if desired (i.e., tables and chairs, linens, bottles of wine, etc.).

(4) What sort of personal property seen (that may not be your 'style')may the owner keep(!)

(5) Ideally,what type of deedwould you want to best protect your ownership interest in the property?Why?

(6) Whatother general informationon this property can you gain from (a) doing atitle searchin the appropriate county'sonlineregister of deedsor (b) otherpublic record search(Zillow, etc)?

Some items to consider would be:

• Geographic location and nearby points of interest;
• Size of real estate parcel of land (acreage);
• Size of the structure/improvement on the real estate (square feet);
• Most recent appraised value of real estate;
• Length of ownership and/or prior owners;
• Any other interesting information.

(7) Assume that, after purchase, you had to take out a$300,000 loan to addone "addition"to the real or personal propertyat this location - in order to "make it your own"

• What would you add to the physical structure or what would you buy to furnish the establishment?
• Would the loan be secured or unsecured? (i.e., is there collateral and what is it?)
• What is the going interest rate for this type of secured/unsecured loan on theinternet?
• How many years would you usually have to pay this type of loan back?
• During the loan period, who would have ownership of the collateral (if there is collateral)?
• What may happen if you default on this loan and cannot pay it back?