EX1A-14 CNSNT SV 11 ea131703ex1a-15ii_dfgrowth.htm RESULTS OF PRIOR PROGRAMS

Exhibit 1A-15.2

 

Table I. Experience Raising Funds

Offerings Closed Within the Last Four Years

 

   Income   Granito   Park   Balboa 
   Program 1   Program 2   Program 3   Program 4 
Date Offering Closed   Open    Aug-18    Open    Jun-17 
Duration of Offering in Months   12 months    14 months    Ongoing    6 months 
Months to Invest 90% of Amount Raised   N/A    14 months    N/A    6 months 
Amount Offered (and Raised)   2,305,140    6,498,086    3,592,368    747,480 
Deductions                    
Organizational and Offering Expenses   N/A    75,000    30,000    20,000 
Amount Available for Investment   N/A    6,498,086    3,592,368    747,480 
Acquisition Cost                    
Purchase Price of Real Estate   N/A    7,200,000    3,650,000    1,418,000 
Cost of Renovations and Improvements   N/A    1,786,786    1,605,729    858,449 
Debt   N/A    6,089,688    3,649,500    2,145,000 
Percent Leverage (Debt to Cost)   N/A    68%   69%   94%

 

   Monterey   Goshen   Summerlyn   McArthur 
   Program 5   Program 6   Program 7   Program 8 
Date Offering Closed   May-17    N/A    Aug-19    Jun-20 
Duration of Offering in Months   9 months    N/A    6 months    4 months 
Months to Invest 90% of Amount Raised   9 months    N/A    6 months    4 months 
Amount Offered (and Raised)   1,100,000    99,000    3,768,464    4,937,449 
Deductions                    
Organizational and Offering Expenses   40,000    N/A    45,274    46,274 
Amount Available for Investment   1,100,000    N/A    3,768,464    4,937,449 
Acquisition Cost                    
Purchase Price of Real Estate   1,250,000    1,095,101    7,950,000    9,675,000 
Cost of Renovations and Improvements   4,713,182    822,626    1,100,000    350,000 
Debt   5,574,514    1,890,315    6,250,000    6,280,000 
Percent Leverage (Debt to Cost)   93%   99%   69%   63%

 

   Blvd West   Woodside 
   Program 9   Program 10 
Date Offering Closed   Jul-20    Sep-20 
Duration of Offering in Months   4 months    4 months 
Months to Invest 90% of Amount Raised   4 months    4 months 
Amount Offered (and Raised)   5,874,290    3,664,266 
Deductions          
Organizational and Offering Expenses   29,526    23,040 
Amount Available for Investment   5,874,290    3,664,266 
Acquisition Cost          
Purchase Price of Real Estate   12,815,000    8,500,000 
Cost of Renovations and Improvements   290,000    750,000 
Debt   8,350,000    6,000,000 
Percent Leverage (Debt to Cost)   64%   65%

 

 

 

 

Table II. Compensation to Sponsor During Last Four Years

 

   Income   Granito   Park   Balboa 
   Program 1   Program 2   Program 3   Program 4 
Date Offering Closed   Open    Aug-18    Open    Jun-17 
Amount Raised   2,305,140    6,498,086    3,592,368    747,480 
Fees Paid to Sponsor from Offering Proceeds                    
Acquisition Fees   -    -    -      
Reimbursement of Expenses   -    75,000    30,000    20,000 
Other   -    -    -      
Fees Paid to Sponsor from Operations                    
Development Fees   -    1,050,000    157,500    79,200 
Property Management Fees   -    -    -      
Partnership Management Fees   -    -    -      
Distributions of "Promoted Interest"   -    -    -      
Reimbursement of Expenses   -    -    35,000      
Leasing Commissions   -    -    -      
Other   -    -    -      
Gross Sales and Refinancings of Property date Offering Closed   -    -    -      
Commissions   -    -    -      
Disposition Fees   -    -    -      
Refinancing Fees   -    -    -      
Distributions of "Promoted Interest"   -    -    -      
Other   -    -    -      

 

   Monterey   Goshen   Summerlyn   McArthur 
   Program 5   Program 6   Program 7   Program 8 
Date Offering Closed   May-17    N/A    Aug-19    Jun-20 
Amount Raised   1,100,000    99,000    3,768,464    4,937,449 
Fees Paid to Sponsor from Offering Proceeds                    
Acquisition Fees             540,088    549,842 
Reimbursement of Expenses   40,000    -    45,274    46,274 
Other   35                
Fees Paid to Sponsor from Operations                    
Development Fees   97,000                
Property Management Fees                    
Partnership Management Fees                    
Distributions of "Promoted Interest"                    
Reimbursement of Expenses                    
Leasing Commissions                    
Other                    
Gross Sales and Refinancings of Property date Offering Closed                    
Commissions                    
Disposition Fees                    
Refinancing Fees                    
Distributions of "Promoted Interest"                    
Other                    

 

   Blvd West   Woodside 
   Program 9   Program 10 
Date Offering Closed   Jul-20    Sep-20 
Amount Raised   5,874,290    3,664,266 
Fees Paid to Sponsor from Offering Proceeds          
Acquisition Fees   927,000    590,313 
Reimbursement of Expenses   29,526    23,040 
Other          
Fees Paid to Sponsor from Operations          
Development Fees          
Property Management Fees          
Partnership Management Fees          
Distributions of "Promoted Interest"          
Reimbursement of Expenses          
Leasing Commissions          
Other          
Gross Sales and Refinancings of Property date Offering Closed          
Commissions          
Disposition Fees          
Refinancing Fees          
Distributions of "Promoted Interest"          
Other          

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Table III. Operating Results

 

   Fiscal Year Ended   Fiscal Year Ended 
   2018   2019 
   Goshen   Goshen   Summerlyn 
   Program 6   Program 6   Program 7 
Gross Revenues   67,564    127,036    444,144 
Profit on Sale of Operations   -    -    - 
Operating Expenses   (2,579)   (22,141)   (269,713)
Interest Expense   (9,365)   (127,851)   (117,420)
Depreciation & Amortization   -    (54,712)   (288,127)
Net Income   55,620    (77,669)   (231,116)
Taxable Income   55,620    (77,669)   (231,116)
From Operations   55,620    (77,669)   (231,116)
From Gain of Sale   -    -    - 
Cash Generated from Operations   55,620    (22,957)   57,011 
Cash Generated from Sales   -    -    - 
Cash Generated from Refinancing   -    -    - 
Cash Generated from Operations, Sales, Refinancing   55,620    (22,957)   57,011 
Cash Distributions to Investors   -    -    - 
Cash Generated after Distributions   55,620    (22,957)   57,011 
                
Federal Income Tax Results               
Ordinary Income (Loss)   55,620    (77,669)   (231,116)
From Operations   55,620    (77,669)   (231,116)
From Recapture               
Capital Gain (loss)   55,620    (77,669)   (231,116)
Cash Distributions to Investors   -    -    - 
Investment Income   -    -    - 
Return of Capital   -    -    - 
Amount Remaining in Program   100%   100%   100%

 

   Fiscal Year Ended 
   2020 
   Goshen   Summerlyn   McArthur   Blvd West 
   Program 6   Program 7   Program 8   Program 9 
Gross Revenues   68,768    898,377    249,737    137,408 
Profit on Sale of Operations   -    -    -    - 
Operating Expenses   (1,773)   (239,367)   (162,538)   (21,806)
Interest Expense   (85,234)   (303,644)   (21,588)   (34)
Depreciation & Amortization   -    -    -    - 
Net Income   (18,239)   355,366    65,611    115,567 
Taxable Income   (18,239)   355,366    65,611    115,567 
From Operations   (18,239)   355,366    65,611    115,567 
From Gain of Sale   -    -    -    - 
Cash Generated from Operations   (18,239)   355,366    65,611    115,567 
Cash Generated from Sales   -    -    -    - 
Cash Generated from Refinancing   -    -    -    - 
Cash Generated from Operations, Sales, Refinancing   (18,239)   355,366    65,611    115,567 
Cash Distributions to Investors   -    -    -    - 
Cash Generated after Distributions   (18,239)   355,366    65,611    115,567 
                     
Federal Income Tax Results                    
Ordinary Income (Loss)   (18,239)   355,366    65,611    115,567 
From Operations   (18,239)   355,366    65,611    115,567 
From Recapture                    
Capital Gain (loss)   (18,239)   355,366    65,611    115,567 
Cash Distributions to Investors   -    -    -    - 
Investment Income   -    -    -    - 
Return of Capital   -    -    -    - 
Amount Remaining in Program   100%   100%   100%   100%

 

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Table IV. Completed Programs

 

Programs that Have Completed Operations Within the Last Five Years

 

   Balboa 
   Program 4 
Date Offering Closed   6/19/2017 
Amount Offered and Raised   747,480 
Cost of Real Estate Purchased   1,418,000 
Cost of Renovations   858,449 
Date Property Was Sold   1/11/2018 
Net Proceeds of Sale   (80,478)
Total Distributions to Investors Per $10,000 Invested*   11,800 
IRR To Investors Over Life of Program   18%

 

*Based on investor who invested for 12 months

 

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Table V. Sales of Property Within Last Four Years

 

   Balboa 
   Program 4 
Date Property Purchased   2/13/2017 
Date Property Sold   1/11/2018 
Sold to Related Party   No 
Total Cost of Property, Including Improvements   3,360,478 
Gross Selling Price of Property   3,280,000 
Net Proceeds After Costs   (80,478)
Original Mortgage Financing   2,145,000 
Mortgage Balance At Time of Sale   2,145,000 

 

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Table VI. Purchases of Property Within Last Three Years

 

   Granito   Park   Monterey 
   Program 2   Program 3   Program 5 
Date Property Purchased   4/3/2018    6/29/2017    9/30/2016 
Type of Property   single family    multi-family    single family 
Location   Los Angeles, CA    San Diego, CA    Monterey, CA 
Gross Square Feet (when completed)   14,350    71,037    6,691 
Contract Purchase Price + Acquisition Fee   7,200,000    3,650,000    1,250,000 
Mortgage Financing   4,750,000    3,247,000    1,035,237 

 

   Goshen   Summerlyn   McArthur 
   Program 6   Program 7   Program 8 
Date Property Purchased   10/17/2016    8/29/2019    6/3/2020 
Type of Property   student housing    multi-family    multi-family 
Location   San Diego, CA    Killeen, TX    Fayetteville, NC 
Gross Square Feet (when completed)   3,717    152,000    149,000 
Contract Purchase Price + Acquisition Fee   1,095,101    8,490,088    10,224,842 
Mortgage Financing   1,171,625    6,250,000    6,280,000 

 

   Blvd West   Woodside 
   Program 9   Program 10 
Date Property Purchased   7/27/2020    9/2/2020 
Type of Property   multi-family    multi-family 
Location   Greenville, NC    Highland, UT 
Gross Square Feet (when completed)   166,100    47,100 
Contract Purchase Price + Acquisition Fee   13,742,000    9,090,313 
Mortgage Financing   8,350,000    6,000,000 

 

 

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