The document discusses investment opportunities in multi-family apartment properties in Central Ohio. It provides details on a real estate investment and development company that has built over 40,000 multi-family units. It then discusses why now is a good time to invest in multi-family properties, citing low interest rates and increased demand for rental properties. Finally, it provides case studies on the financial performance of existing apartment complexes.

1. Apartment Investment Opportunities Presented by Brian D. Swope 18 Year Real Estate Investment Expert

2. Metro Development - Who We Are Part of a development and construction company with 39 years of experience in Central Ohio.

4. Apartment Communities Sawmill Ravine Fieldstone Trace Lakes Edge Enclave at Albany Park Edgewater Place Cameron Ridge Polaris Crossing Sawmill Crossing Winchester Park

6. Why Today Is An Especially Good Time To Own Multi-family Property In Central Ohio

7. Why Today Is An Especially Good Time To Own Multi-family Property In Central Ohio 5 Year Constant Maturity Treasury Rate Plus the Banks’ Normal Margin of 2.25% Low Commercial Interest Rates

10. 15-year Historical Rates of Return from Sept ‘93 – Sept ‘08 With the Volatility of the stock market. You MUST Diversify With Real Estate

11. Why Today Is An Especially Good Time To Own Multi-family Property In Central Ohio *2008 Forecast Home sales and permits have decreased while the population of Columbus continues to rise.

12. Why Today Is An Especially Good Time To Own Multi-family Property In Central Ohio Marcus & Millichap Research Services *Forecast Year-Over-Year Change Fewer apartments are being built: less competition = higher rents Asking Rent Rents in 2008 are forecast to increase 4.9% month as rent concessions recede.

14. Four Ways Real Estate Generates Income Example: 16 unit building, but the results are the same for any number of units (4,8,12,etc.)

20. The Flexibility of Leveraged Property

23. Total Rate of Return

25. Total Rate of Return Example: Lake Club Return On Your Investment First 5 Years Cash flow first 2 years ( 25 year loan ) 16 Two bedroom apartments Purchase Price $659,900 Down Payment $131,980 Loan Amount $527,920 INCOME One Bedroom 0 $495 $ 0 Two Bedroom 16 $535 $ 8,560 Garage Income 4 $ 50 $ 200 Gross Monthly Income $ 8,760 Annualized x12 Gross Potential Income $ 105,120 Less Vacancy 5% $ 5,256 Net Effective Income $ 99,864 $ 99,864 EXPENSES: Real Estate Taxes (est.) $ 10,100 Insurance $ 1,558 Leasing Agents/On-site & Res.Mgrs./Maint. Labor $ 5,861 Pool & Clubhouse $ 960 Telephone/Credit Bur./Prof. Fees/Rental Suppl./ Forms $ 1,200 Lawn/Snow/Landscape./Refuse/Flowers/Ext. Maint. $ 1,600 Parts for Repair and Maintenance $ 880 Painting, Cleaning and Decorating $ 2,200 Utilities: Unbilled Water and Sewer/Vacant Elec. $ 3,925 Management Fee 2% $ 1,997 Promotions/Advertising/Concessions $ 1,230 Athletic Club Memberships $ 2,496 Principal and Interest (8.50% For 25 Years) $ 51,011 Total Expenses $ 85,018 $ 85,018 CASH FLOW $ 14,846

26. Total Rate of Return Example: Lake Club Return On Your Investment First 15 Years (20% Downpayment = $131,980) = + + Total Return 39,706 (30%) 44,438 (34%) 44,391 (34%) 48,774 (37%) 2.8% Appreciation 18,477 (14.0%) 20,635 (15.6%) 23,690 (18.0%) 27,198 (20.6%) 25 Years Principal Reduction 6,383 (4.84%) 8,957 (6.79%) 5,855 (4.44%) 6,730 (5.10%) Cash Flow 14,846 (11.25%) 14,846 (11.25%) 14,846 (11.25%) 14,846 (11.25%) Year 1 5 10 15

27. Lake Club Apartments 25 Year Loan $659,900 $527,900 $736,971 $846,089 $971,363 $489,823 $464,588 $434,908 $131,980 $247,148 $381,501 $536,455 15 Year Analysis - 2.8% Appreciation Purchase Date Purchase Price Downpayment Mortgage Amount End of Year 5 $659,900 ($131,980) $527,900 End of Year 10 End of Year 15

28. Winchester Park Apartments New Project Pro Forma - 30 Year Loan - 4 Two-Bedroom Premier Units

29. Winchester Park Apartments Cash flow first 2 years ( 30 year loan ) 4 Two Bedroom Apartments Purchase Price $272,000 Down Payment $ 54,400 Loan Amount $217,600 INCOME: One Bedroom 0 $ 0 Two Bedroom 4 $755 $ 3,020 Garage Income 1 $ 50 $ 50 Gross Monthly Income $ 3,070 Annualized x12 Gross Potential Income $ 36,840 Less Vacancy 5% ( $ 1,842) Net Effective Income $ 34,998 $ 34,998

30. Winchester Park Apartments Cash flow first 2 years ( 30 year loan ) 4 Two Bedroom Apartments Purchase Price $272,000 Down Payment $ 54,400 Loan Amount $217,600 INCOME: One Bedroom 0 $ 0 Two Bedroom 4 $755 $ 3,020 Garage Income 1 $ 50 $ 50 Gross Monthly Income $ 3,070 Annualized x12 Gross Potential Income $ 36,840 Less Vacancy 5% ( $ 1,842) Net Effective Income $ 34,998 $ 34,998 EXPENSES: Real Estate Taxes (est.) $ 4,200 Insurance $ 424 Leasing Agents/On-site & Res.Mgrs./Maint. Labor $ 2,032 Pool & Clubhouse $ 400 Telephone/Credit Bur./Prof. Fees/Rental Suppl./ Forms $ 1,324 Lawn/Snow/Landscape./Refuse/Flowers/Ext. Maint. $ 1,444 Parts for Repair and Maintenance $ 200 Painting, Cleaning and Decorating $ 4,816 Utilities: Unbilled Water and Sewer/Vacant Elec. $ 664 Management Fee 0% $ 0 Promotions/Advertising/Concessions $ 936 Concessions/Miscellaneous* $ 300 Principal and Interest (6.75% For 30 Years) $ 16,936 Total Expenses $ 29,768 $ 29,768

31. Winchester Park Apartments Cash flow first 2 years ( 30 year loan ) 4 Two Bedroom Apartments Purchase Price $272,000 Down Payment $ 54,400 Loan Amount $217,600 INCOME: One Bedroom 0 $ 0 Two Bedroom 4 $755 $ 3,020 Garage Income 1 $ 50 $ 50 Gross Monthly Income $ 3,070 Annualized x12 Gross Potential Income $ 36,840 Less Vacancy 5% ( $ 1,842) Net Effective Income $ 34,998 $ 34,998 EXPENSES: Real Estate Taxes (est.) $ 4,200 Insurance $ 424 Leasing Agents/On-site & Res.Mgrs./Maint. Labor $ 2,032 Pool & Clubhouse $ 400 Telephone/Credit Bur./Prof. Fees/Rental Suppl./ Forms $ 1,324 Lawn/Snow/Landscape./Refuse/Flowers/Ext. Maint. $ 1,444 Parts for Repair and Maintenance $ 200 Painting, Cleaning and Decorating $ 4,816 Utilities: Unbilled Water and Sewer/Vacant Elec. $ 664 Management Fee 0% $ 0 Promotions/Advertising/Concessions $ 936 Concessions/Miscellaneous* $ 300 Principal and Interest (6.75% For 30 Years) $ 16,936 Total Expenses $ 29,768 $ 29,768 CASH FLOW: $ 5,230

32. Return On Your Investment The First 5 Years (20% Downpayment = $54,400) Cash Flow 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) Year 1 2 3 4 5

33. Return On Your Investment The First 5 Years (20% Downpayment = $54,400) 30 Years Principal Reduction + 2,319 (4.26%) 2,480 (4.56%) 2,653 (4.88%) 2,837 (5.22%) 3,035 (5.58%) Cash Flow 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) Year 1 2 3 4 5

34. Return On Your Investment The First 5 Years (20% Downpayment = $54,400) 30 Years Principal Reduction + + 2.8% Appreciation 7,616 (14.0%) 7,829 (14.4%) 8,048 (14.8%) 8,274 (15.2%) 8,505 (15.6%) 2,319 (4.26%) 2,480 (4.56%) 2,653 (4.88%) 2,837 (5.22%) 3,035 (5.58%) Cash Flow 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) Year 1 2 3 4 5

35. Return On Your Investment The First 5 Years (20% Downpayment = $54,400) = 30 Years Principal Reduction + + Total Return 15,165 (30%) 15,539 (30%) 15,931 (31%) 16,341 (32%) 16,770 (33%) 2.8% Appreciation 7,616 (14.0%) 7,829 (14.4%) 8,048 (14.8%) 8,274 (15.2%) 8,505 (15.6%) 2,319 (4.26%) 2,480 (4.56%) 2,653 (4.88%) 2,837 (5.22%) 3,035 (5.58%) Cash Flow 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) 5,230 (9.61%) Year 1 2 3 4 5

36. Winchester Park Apartments 30 Year Loan $272,000 $217,600 $303,768 $348,744 $400,380 $204,534 $185,980 $160,002 $54,400 $99,234 $162,764 $240,378 15 Year Analysis - 2.8% Appreciation Purchase Date Purchase Price Downpayment Mortgage Amount End of Year 5 $272,000 ($54,400) $217,600 End of Year 10 End of Year 15

37. Criteria For Investment

44. Vacancy Rate Trends Columbus Metro vs. Ardent Property Management Marcus & Millichap Research Service *Forecast

46. 10 Reasons to Purchase Investment Property Today

48. Thank you for your time. Please call me at 614-580-8688 to discuss your investment needs. We believe this information to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Investors must verify the information and bear all risk for any inaccuracies. Neither the owner/developer nor the Realtor® guarantees the market conditions or the performance of any investment. This is not an offer to sell. Some photos are representative.