A Look at Some of Our Most Recent Projects

Internally, we review on a monthly basis whether we’re hitting the mark on our projects. It’s always tough to tell during the construction process, but once a house is finished, we can see the physical product and confirm it is up to our standards.

Examples

Financial Priorities

On the financial side, once the property is rented, we get an idea of whether we are hitting our financial goals. As of September 2022, of our 105 units, 65 are complete and have been rented. While there’s a myriad of assumptions, to project returns, we use appreciation of real estate (we use the historical average), vacancy (10%) and the various expenses. Below are some of our projects that have been completed and rented, with our property level projected financials.

Snapshot of Financials of Properties Rehabbed and Rented

Please see our private placement memorandum for risk disclosures and assumptions.

Properties Rehabbed and Rented	Total Cost	Projected Annual NOI	Estimated Project Level Return annualized return* (65% LTV)
545 Ohio	$70,145	$3,673	14%
460 Chestnut	$87,600	$4,799	12%
456 Chestnut	$112,822	$5,640	14%
306 E. 7th	$104,059	$4,350	12%

*Includes all estimated expenses at the property level (property management, 10% vacancy factor, repairs, etc.) but does not include expenses for the entities (bookkeeping, audit, accounting, legal, etc.). Please see PPM for full details of expenses, assumptions, and risks.

*Does not include benefit of Lexington city grant money.