Syndication Capital Company Presentation

1. Passive Income and Wealth Building That’s Partnership Powered

2. Table of Contents Why Apartments? Investment Strategy Roles 7-Step Process Sample Deal http://www.syndicationcapital.net

3. Why Apartments?

4. Historically less risk and better returns than stocks/bonds http://www.syndicationcapital.net

5. Highest returns out of all real estate asset classes Click here for an article on why apartment returns can’t be beat http://www.syndicationcapital.net

6. Lower your taxable income You’ll lower your taxable income by off-setting it with the depreciation of the apartment building. Typically, the depreciation will be greater than the distributions paid out each year, which can reduce or even eliminate your tax bill until you receive your profits from the sale proceeds. http://www.syndicationcapital.net

7. Home ownership is significantly dropping http://www.syndicationcapital.net

8. But population is significantly increasing http://www.syndicationcapital.net

9. We are a nation of renters. It will continue. Big time. http://www.syndicationcapital.net

10. And apartment vacancy rates are falling… http://www.syndicationcapital.net

11. And demand isn’t going away • According to the National Multifamily Housing Council and the National Apartment Association, the US will need to build more than 4.6 million new apartment homes across a range of price points by 2030 • Nearly 39 million people live in apartments, and the apartment industry is quickly exceeding capacity. • It will take building an average of at least 325,000 new apartment homes every year to meet demand; yet, on average, just 244,000 apartments were delivered from 2012 through 2016. • Economic Impact • Apartments and their 39 million residents contribute $1.3 trillion to the US economy and generates about 12.3 million jobs annually. • Demand Drivers • Changing Lifestyles – People are delaying marriage and starting a family (19% of all households in the US are married couples with children compared to 44% in 1960). More than 75 million people 18 and 34 are entering the housing market primarily as renters. • Demographics – Ages 55-plus will account for more than 30% of rental households. More than half of the net increase in renter households over the past decade came from the 45-plus demographic. • Immigration Growth – International immigration is expected to account for 51% of all new population growth in the US and immigrants have a higher propensity to rent and typically rent for longer periods of time http://www.syndicationcapital.net

12. Our Investment Strategy

13. Targeting markets with strong apartment fundamentals and moderate cap rates Employment Drivers: Strong employment drivers provide stable rent income and lower the risk of the investment by keeping occupancy rates high. Supply Constraints: Submarket must have high barriers to entry and a population growth sufficient enough to absorb scheduled future supply. GDP Growth: Avoiding markets nearing a potential bust and are currently experiencing low cap rates. Multifamily Cap Trends: In order to achieve 8% annual returns, the economics of the metro area must be very strong, yet the cap rates of class B product cannot be below 5%. Multifamily Rental Trends: Growing rents serve as an important indicator of a healthy and stable economy with lower associated risk of investment. Multifamily Occupancy Trends: Healthy occupancy rates signal a growing population that is outpacing the current supply of new apartments. http://www.syndicationcapital.net

14. Target Markets • MSA’s selected offer the strongest value-add opportunities Kansas City (5.75%) Cincinnati (5.37%) Las Vegas (5.0%) Columbus (6.25%) Indianapolis (5.37%) St. Louis (6.37%) Nashville (5.5%) Phoenix (4.62%) Austin (4.75%) Atlanta (5.5%) Houston (5.25%) Dallas/Fort Worth (5.75%) MSA’s that Syndication Capital currently targets Avg. cap rate of the stabilized Class B product in each market (x.x%) Source: CBRE North American Cap Rate Survey, First Half 2019 http://www.syndicationcapital.net

15. Offers Offers on selected properties that meet our business plan Underwriting Underwrite projects that meet our set criteria Acquisition Closure on property that meets all requirements Sourcing Underperforming Properties with Value-Add Component • Our focus is to identify underperforming properties that have a value add-component. • It could be implementing a RUBS program, putting in professional management, investing money into units to generate market rent, improving landscaping or any number of other tactics. • 100:30:10:1 Process 100+ Deals Continuous pipeline of opportunities and high level review of each opportunity 30+ Deals More Detailed underwriting on a selection of deals that adhere to our investment criteria 10+ Deals Offers on deals that pass underwriting process, Intensive analysis conducted, including comparable analysis, study of asset and market, etc. • 1 Deal • Out of 10 offers submitted, 1 deal passes intensive analysis and is closed on http://www.syndicationcapital.net

16. A heavy focus on value-add fundamentals supports a comprehensive underwriting process • Proximity to employment drivers/retail • Quality of competition Submarket location 2. History of property 3. Condition of property 4 . Competition 5. Select a business plan that will create the most value • Year of construction • Demographic • Ownership history • Exterior deferred maintenance • Interior vintage and quality • Rental comparison • Sales comparison • Interior or exterior renovation • Repositioning demographic of tenants • Complete rebranding http://www.syndicationcapital.net

17. Typical return and structure on our investments • 85%> pre-purchase occupancy (walk-in cashflow) • 100 units or more • Minimum Metro Population of 250,000 • Our purchases are done using long-term debt at a minimum 70% Loan-To-Value. • Our Debt Investor interest payments are 10% or greater depending on investment amount and term. • Our Equity Investor cash-on-cash annual returns average 8% or greater over the life of the business plan. • Profit splits range 70/30 - 80/20 depending on business plan. • Investment hold periods range 5-7 years depending on the business plan, with a 5 year IRR target of 14% or greater. http://www.syndicationcapital.net

18. Our Roles

19. Overview of roles • Our Investors • Equity for project • Mortgage approval (case-by-case basis) • Our Team • Identify opportunities. • Review and underwrite opportunities to assess investment viability. • Perform in-person property and market due diligence and research. • Craft and submit Letter Of Intent. • Submit and negotiate Purchase Sale Agreement. • Create Investment Summary. • Coordinate with professional property inspectors. • Secure the best financing option for asset. • Coordinate legal team to create purchase entity, partnership agreements and compliance documents. • Setup operating bank accounts. • Close on the deal. • Create investor guide. • Notify investors of closing. • Hire and oversee property management company. • Conduct weekly performance call with property management company. • Perform asset management duties. • Business plan implementation, management and execution. • Send monthly recap emails to investors. • Send quarterly financials to investors. • Send K-1 tax documents to investors. • Answer incoming questions from investors. • Ensure on-time investor distributions are met. • Frequently analyze competition to set rents • Frequently analyze the market to determine when to sell. • Oversee the sale of the asset. http://www.syndicationcapital.net

20. Our Process

21. Our 7-Step Apartment Buying Process • Our team finds property that is projected to meets the goals of our investors. • Our team makes offer and negotiates purchase price. • Offer is accepted and deal is shared with our investors. • Our team performs more detailed due diligence on property which is a part of our rigorous 100 point pre-purchase/post purchase process. • Our team renegotiates the offer based on the results of the due diligence (if applicable). • Legal documents created by the attorney and signed by both our team and our investors and the mortgage is approved with the signature of a loan guarantor (who is a 3rd party or a member of the GP). • The deal is closed. http://www.syndicationcapital.net

22. Sample Deal

23. Sample Apartment Deal • DISCLAIMER: This is a sample deal being shared for illustration purposes only. This is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or fund interest or any financial instrument and is not to be considered investment advice. This presentation is for institutional use only and is not to be distributed to any party other than its intended recipient. This is a fictitious property, based on an actual deal we explored and is representative of the types of deals and properties we seek to acquire. • Property Overview • Property description • Unit mix • Financial Analysis • Disposition (Sales) Summary • Yield Projections • Operating Income and Cash Flow • Sample $100,000 Investment • Proforma http://www.syndicationcapital.net

24. Sample Apartment Deal – Property Overview http://www.syndicationcapital.net

25. Sample Apartment Deal – Financial Analysis http://www.syndicationcapital.net

26. Sample Apartment Deal – Sample $100,000 Investment http://www.syndicationcapital.net

27. Sample Apartment Deal – ProForma http://www.syndicationcapital.net

28. Are you an accredited investor interested in the benefits of passively investing in multifamily apartments? Go to syndicationcapital.net and join our passive investors club. Receive our free 7-Day Email Course to get you started on your road to being financially free. Disclaimer: No Offer of Securities-Disclosure of Interests Under no circumstances should any material at this Ebook be used or considered as an offer to sell or a solicitation of any offer to buy an interest in any investment. Any such offer or solicitation will be made only by means of the Confidential Private Offering Memorandum relating to the particular investment. Access to information about the investments are limited to investors who either qualify as accredited investors within the meaning of the Securities Act of 1933, as amended, or those investors who generally are sophisticated in financial matters, such that they are capable of evaluating the merits and risks of prospective investments. Copyright © 2019 Syndication Capital, LLC. http://www.syndicationcapital.net