Manager's

Evaluation Report 3420 CLANDARA AVE, LAS VEGAS, 89121

3 bedroom 3 F bath 2302 SF home built in 1978
$ 99,900 Proforma Sale Price $ 1,150 Rent

Disposition Costs
$ 3,000 Sell-Side of Listing $ 3,000 Buy-Side of Listing $ 2,500 Seller Closing Costs $ 8,500 Total Disposition Costs $ 91,400 Revenue from Disposition

Cash Operating Expenses

$ 85 Property Tax $ 85 Homeowners Insurance $ 105 Homeowners Association Fees $ 70 $ - Includes 6% property management fee Other Expenses

$ 345 Monthly Cash Expenses Reserve Expenses $ 75 $ 50 Maintenance and Replacement Reserves Vacancy and Collection Loss

Acquisition, Carrying, and Renovation Costs

$ 65,500 Auction Acquisition Cost $ 3,930 Trustee Sale Fees & Commissions $ 6,700 $ 965 $ 1,250 $ 700 $ 2,650 $ 500 $ 383 Real Estate Improvements Total Carrying Costs Project Management Back Property Taxes Back HOA Dues Tenant Move-out Allowance Transfer Taxes and Recording Fees

$ 125 Monthly Reserve Expenses $ 470 Total Expenses $ 680 Net Operating Income 13.0 Months to match flip $ 82,578 Total Acquisition and Renovation Costs $ 8,160 Yearly Net Income 9.9% Capitalization Rate

$ 82,578 Total Acquisition and Renovation Costs $ 8,823 Total Profit 10.7% Profit Margin

Asking Prices
$ 104,900 Initial Asking Price $ 101,900 Minimum MLS Asking Price $ 99,900 Cashflow Investor Asking Price $ 90,900 Breakeven Sale Price

Asking Rents = = = = =
$ 1,200 $ 1,175 $ 1,150 $ 1,125 $ 1,100

Ideal Home Brokers Manager's Report

1 of 2

larry@IdealHomeBrokers.com (949) 351-6913

3420 CLANDARA AVE, LAS VEGAS, 89121

Resale Date 8/26/11 1978, 4/3, 2158 SF, $114900, $53.21/SF, 3332 DELDERFIELD AV, BRAEWOOD HERITAGE #4 8/2/11 1978, 3/3, 2158 SF, $100000, $46.31/SF, 3430 KENBROOK ST, BRAEWOOD HERITAGE #4 7/29/11 1976, 3/3, 2158 SF, $113000, $52.33/SF, 3512 CALVERT CT, BRAEWOOD HERITAGE #2 4/22/11 1974, 4/3, 2158 SF, $90000, $41.68/SF, 3339 SOUTHRIDGE AV, BRAEWOOD HERITAGE #1 4/18/11
1978, 3/3, 2952 SF, $120000, $40.63/SF, 3388 KENBROOK ST, BRAEWOOD HERITAGE #4

Comparable Resales

Amount $ 120,000 $ 113,000 $ 100,000 $ 100,000 $ 85,000

Comparable Rentals
3358 SOUTHRIDGE AV -- 4 bed 3 bath 2158 SF -- 1974 List: $1295 3470 CLANDARA AV -- 2 bed 2 bath 1294 SF -- 1978 List: $995

Lease Date 7/1/11 1/11/11

Amount $ 1,200 $ 995

10/1/2011

11/1/2011

12/1/2011

9/1/2011

1/1/2012

1/31/2012

3/2/2012

4/1/2012

Evichon Auchon

10/12/11

Auchon 10/12/11 1 Evichon 11/02/11 21 Fix up 12/14/11 42

Purchase to Sale Schedule

11/02/11

Fix up

12/14/11

Renhng

01/13/12

Renhng 01/13/12 30 Lishng 02/17/12 35 Escrow 03/27/12 39 Closing 03/30/12 3

Lishng

02/17/12

Escrow

03/27/12

Closing

03/30/12

Ideal Home Brokers Manager's Report

2 of 2

larry@IdealHomeBrokers.com (949) 351-6913

5/2/2012

Task Auction Purchase - 1 day(s) Eviction and Possession - 21 day(s) Property Renovation - 42 day(s) Rental Listing - 30 day(s) MLS Listing - 35 day(s) Escrow and Closing - 39 day(s) Cash to Auction - 3 day(s) Purchase to Sale

Start Date 10/11/11 10/12/11 11/02/11 12/14/11 01/13/12 02/17/12 03/27/12 10/11/11

End Date 10/12/11 11/02/11 12/14/11 01/13/12 02/17/12 03/27/12 03/30/12 03/30/12