CASH FLOW REPORT - SUMMARY Analysis Date: 9/13/2017

Example Project
1234 N. Main St, Kansas City, MO 64116

monthly yearly % of GOI

CASH FLOW FROM ACQUISITION CASH FLOW FROM OPERATIONS
PROJECT COSTS $159,470 Rental Operation
SHORT TERM LOAN (BRIDGE LOAN) -$71,400 Gross Operating Income $1,146 $13,750 100%
INITIAL CASH OUTLAY AT ACQUISITION: $88,070 -Less Gross Operating Expenses -$542 -$6,500 -47.3%
CASH FLOW BEFORE DEBT $604 $7,250 52.7%
CASH FLOW FROM REFINANCE UNLEVERED COCR 0.38% 4.55%
LONG-TERM FINANCING AMOUNT $116,000 Financing
PAY-OFF SHORT TERM FINANCING AMOUNT -$71,400 Cash Flow Before Debt $604 $7,250 52.7%
CASH RECEIVED AT REFINANCE $44,600 -Less Debt Service -$623 -$7,473 -54.3%
INITIAL INVESTOR CASH OUTLAY $88,070 CASH FLOW AFTER DEBT -$19 -$223 -1.6%
CASH RECEIVED AT REFINANCE -$44,600 LEVERED COCR -0.04% -0.51%
INVESTOR CASH REMAINING IN DEAL $43,470

CASH FLOW FROM SALE $12,000

PLANNED PROPERTY SALE IN YEAR 30 $269,570

$10,000
-LESS SELLING COSTS (7.0% OF SALES PRICE) $18,870
$8,000
-LESS LOAN BALANCE (PAYOFF) $0
CASH FLOW FROM SALE $288,440 $6,000

$4,000

CASH FLOW SUMMARY $2,000

CASH FLOW FROM ACQUISITION -$88,070
$0
CASH FLOW FROM REFINANCE $44,600 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

CASH FLOW FROM SALE $250,700 -$2,000

CFBD CFAD
CASH FLOW FROM SALE $295,300

Venture Sheets (816) 388-0197 dave@venturesheets.com www.venturesheets.com

CASH FLOW REPORT Analysis Date: 9/13/2017
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Year 0 Year 1
Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15
Acquisition Refinance

Cash Flow at Acquisition /Refinance

Cash Flow from Acquisition/Refinance -$88,070 $44,600 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Rental Operation
Gross Operating Income $13,750 $13,888 $14,026 $14,167 $14,308 $14,451 $14,596 $14,742 $14,889 $15,038 $15,189 $15,340 $15,494 $15,649 $15,805

-Less Gross Operating Expenses -$6,500 -$6,565 -$6,631 -$6,697 -$6,764 -$6,832 -$6,900 -$6,969 -$7,039 -$7,109 -$7,180 -$7,252 -$7,324 -$7,398 -$7,472

Net Operating Income $7,250 $7,323 $7,396 $7,470 $7,544 $7,620 $7,696 $7,773 $7,851 $7,929 $8,009 $8,089 $8,169 $8,251 $8,334

Financing
Cash Flow Before Debt $7,250 $7,323 $7,396 $7,470 $7,544 $7,620 $7,696 $7,773 $7,851 $7,929 $8,009 $8,089 $8,169 $8,251 $8,334

-Less Debt Service -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473

Cash Flow After Debt -$223 -$150 -$77 -$3 $72 $147 $223 $300 $378 $457 $536 $616 $697 $779 $861

Levered COCR -0.5% -0.3% -0.2% 0.0% 0.2% 0.3% 0.5% 0.7% 0.9% 1.1% 1.2% 1.4% 1.6% 1.8% 2.0%

Cash Flow From Sale in Year 30

Planned Property Resale in Year 30
-Less Selling Costs (7.0% of Sales Price)

-Less Loan Balance (Payoff)

Cash Flow From Sale in Year 30 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Cash Flow Results Acquisition Refinance

Cash Flow from Acquisition -$88,070 $44,600 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Cash Flow from Operations $0 -$223 -$150 -$77 -$3 $72 $147 $223 $300 $378 $457 $536 $616 $697 $779 $861

Cash Flow from Sale $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Cash Flow -$88,070 $44,377 -$150 -$77 -$3 $72 $147 $223 $300 $378 $457 $536 $616 $697 $779 $861

Total Cash Position -$88,070 -$43,693 -$43,843 -$43,919 -$43,922 -$43,850 -$43,703 -$43,480 -$43,179 -$42,801 -$42,345 -$41,809 -$41,193 -$40,496 -$39,717 -$38,856

Venture Sheets (816) 388-0197 dave@venturesheets.com www.venturesheets.com

CASH FLOW REPORT Analysis Date: 9/13/2017
16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30

Cash Flow at Acquisition /Refinance

Cash Flow from Acquisition/Refinance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Rental Operation
Gross Operating Income $15,963 $16,123 $16,284 $16,447 $16,611 $16,778 $16,945 $17,115 $17,286 $17,459 $17,633 $17,810 $17,988 $18,168 $18,349

-Less Gross Operating Expenses -$7,546 -$7,622 -$7,698 -$7,775 -$7,853 -$7,931 -$8,011 -$8,091 -$8,172 -$8,253 -$8,336 -$8,419 -$8,503 -$8,588 -$8,674

Net Operating Income $8,417 $8,501 $8,586 $8,672 $8,759 $8,846 $8,935 $9,024 $9,114 $9,206 $9,298 $9,391 $9,485 $9,579 $9,675

Financing
Cash Flow Before Debt $8,417 $8,501 $8,586 $8,672 $8,759 $8,846 $8,935 $9,024 $9,114 $9,206 $9,298 $9,391 $9,485 $9,579 $9,675

-Less Debt Service -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473 -$7,473

Cash Flow After Debt $944 $1,029 $1,114 $1,200 $1,286 $1,374 $1,462 $1,552 $1,642 $1,733 $1,825 $1,918 $2,012 $2,107 $2,203

Levered COCR 2.2% 2.4% 2.6% 2.8% 3.0% 3.2% 3.4% 3.6% 3.8% 4.0% 4.2% 4.4% 4.6% 4.8% 5.1%

Cash Flow From Sale in Year 30 Sale

Planned Property Resale in Year 30 $269,570

-Less Selling Costs (7.0% of Sales Price) -$18,870

-Less Loan Balance (Payoff) $0

Cash Flow From Sale in Year 30 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $250,700

Cash Flow Results

Cash Flow from Acquisition $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Cash Flow from Operations $0 $944 $1,029 $1,114 $1,200 $1,286 $1,374 $1,462 $1,552 $1,642 $1,733 $1,825 $1,918 $2,012 $2,107 $2,203

Cash Flow from Sale $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $250,700

Total Cash Flow $944 $1,029 $1,114 $1,200 $1,286 $1,374 $1,462 $1,552 $1,642 $1,733 $1,825 $1,918 $2,012 $2,107 $252,902

Total Cash Position -$38,856 -$37,911 $1,029 $1,114 $1,200 $1,286 $1,374 $1,462 $1,552 $1,642 $1,733 $1,825 $1,918 $2,012 $2,107 $252,902

Venture Sheets (816) 388-0197 dave@venturesheets.com www.venturesheets.com