Profitability Projection

Real Estate Development Cycle amount in US $

start up period 0-6

year length

Property Fund finder's fee Net Funds Deal I property acquisition development / modification total funds invested sale proceeds profit from deal

5,000,000 ###

###

profit from deal

###

###

profit from deal

Total Funds Value at Year 3

-308,750 5,866,250

###

5,279,625 586,625 5,866,250 7,743,450

###

1,877,200

7,743,450 ###

Net Funds property acquisition development / modification total funds invested sale proceeds

1,425,000

6,175,000

Deal 3 Property Fund finder's fee

4,275,000 475,000 4,750,000 6,175,000

Net Funds property acquisition development / modification total funds invested sale proceeds

-250,000 4,750,000

Deal 2 Property Fund finder's fee

accounting periods for fund year 1 year 2 year 3 12 months 12 months 12 months

-387,173 7,356,278

###

###

6,620,650 735,628 7,356,278 9,710,286 2,354,009

9,710,286

(available for redemption) Value Enhancement of Fund annualized % growth

4,710,286 31%