EX1A-15 ADD EXHB 11 f1a2018ex1a-15ii_dfgrowth.htm RESULTS OF PRIOR PROGRAMS

Exhibit 1A-15.2

 

Table I. Experience Raising Funds

 

Offerings Closed Within the Last Three Years

 

   Program 1   Program 2   Program 3 
Date Offering Closed   Ongoing   Ongoing   Ongoing 
Duration of Offering in Months   12 months   Ongoing   Ongoing 
Months to Invest 90% of Amount Raised   N/A   N/A   N/A 
Amount Offered (and Raised)   2,039,000   5,340,000   1,498,000 
Deductions             
Organizational and Offering Expenses    N/A   75,000   30,000 
Amount Available for Investment    N/A   5,340,000   1,108,168 
Acquisition Cost             
Purchase Price of Real Estate    N/A   7,200,000   3,650,000 
Cost of Renovations and Improvements    N/A    N/A    N/A 
Debt   -   4,750,000   2,920,000 
Percent Leverage*   -   66%  80%

 

* Shown as debt as % of total project cost (loan to cost)

 

Table I. Experience Raising Funds

 

Offerings Closed Within the Last Three Years

 

   Program 4   Program 5   Program 6 
Date Offering Closed  Jun-17   May-17   N/A 
Duration of Offering in Months  6 months   9 months   N/A 
Months to Invest 90% of Amount Raised  6 months   9 months   N/A 
Amount Offered (and Raised)  747,480   595,954    N/A 
Deductions            
Organizational and Offering Expenses  20,000   20,000    N/A 
Amount Available for Investment  747,480   595,954    N/A 
Acquisition Cost            
Purchase Price of Real Estate  1,418,000   1,250,000   855,000 
Cost of Renovations and Improvements  1,933,000   3,000,000   1,295,500 
Debt  2,145,000   2,359,050   1,310,000 
Percent Leverage*  64%  56%  61%

 

* Shown as debt as % of total project cost (loan to cost)

 

 

 

 

Table II. Compensation to Sponsor During Last Three Years

 

   Program 1   Program 2   Program 3 
Date Offering Closed  Ongoing   Ongoing   Ongoing 
Amount Raised  2,039,000   5,340,000   1,498,000 
Fees Paid to Sponsor from Offering Proceeds            
Acquisition Fees  -   -   - 
Reimbursement of Expenses  -   75,000   30,000 
Other  -   -   - 
Fees Paid to Sponsor from Operations            
Development Fees  -   600,000   157,500 
Property Management Fees  -   -   - 
Partnership Management Fees  -   -   - 
Distributions of “Promoted Interest”  -   -   - 
Reimbursement of Expenses  -   -   35,000 
Leasing Commissions  -   -   - 
Other  -   -   - 
Gross Sales and Refinancings of Property  -   -   - 
date Offering Closed            
Commissions  -   -   - 
Disposition Fees  -   -   - 
Refinancing Fees  -   -   - 
Distributions of “Promoted Interest”  -   -   - 
Other  -   -   - 

 

Since DiversyFund, Inc. became manager of the Income Fund (Program 1) in January 2017, there have been no fees charged to investors.

 

Table II. Compensation to Sponsor During Last Three Years

 

   Program 4   Program 5   Program 6 
Date Offering Closed  Jun-17   May-17   N/A 
Amount Raised  747,480   595,954    N/A 
Fees Paid to Sponsor from Offering Proceeds            
Acquisition Fees  -   -   - 
Reimbursement of Expenses  20,000   20,000   - 
Other  -   35   - 
Fees Paid to Sponsor from Operations            
Development Fees  79,200   43,350   - 
Property Management Fees  -   -   - 
Partnership Management Fees  -   -   - 
Distributions of “Promoted Interest”  -   -   - 
Reimbursement of Expenses  -   -   - 
Leasing Commissions  -   -   - 
Other  -   -   - 
Gross Sales and Refinancings of Property      -   - 
date Offering Closed            
Commissions  -   -   - 
Disposition Fees  -   -   - 
Refinancing Fees  -   -   - 
Distributions of “Promoted Interest”  -   -   - 
Other  -   -   - 

 

Since DiversyFund, Inc. became manager of the Income Fund (Program 1) in January 2017, there have been no fees charged to investors.

 

2

 

 

Table III. Operating Results

 

Not applicable as none of the Programs have operations.

 

Table IV. Completed Programs

 

Programs that Have Completed Operations Within the Last Five Years

 

   Program 4 
Date Offering Closed  6/19/2017 
Amount Offered and Raised  747,480 
Cost of Real Estate Purchased  1,418,000 
Cost of Renovations  1,933,000 
Date Property Was Sold  1/11/2018 
Net Proceeds of Sale  (71,000)
Total Distributions to Investors Per $10,000 Invested*  11,800 
IRR To Investors Over Life of Program**  18%

 

* Based on investor who invested for 12 months
* DiversyFund Investors received a fixed 18% per year return from a debt instrument, as projected, despite the loss on the property to the prior non-DiversyFund investors (see prior note).

 

Table V. Sales of Property Within Last Three Years

 

   Program 4 
Date Property Purchased  2/13/2017 
Date Property Sold  1/11/2018 
Sold to Related Party  No 
Total Cost of Property, Including Improvements  3,351,000 
Gross Selling Price of Property  3,280,000 
Net Proceeds After Costs  (71,000)
Original Mortgage Financing  2,145,000 
Mortgage Balance At Time of Sale  2,145,000 

 

Table VI. Purchases of Property Within Last Three Years

 

   Program 1   Program 2   Program 3 
Date Property Purchased  N/A   4/3/2018   6/29/2017 
Type of Property  bridge loan fund   single family    multi-family 
Gross Square Feet (when completed)   N/A   14,350   71,037 
Total Cost of Property, Including Improvements   N/A   7,200,000   3,650,000 
Mortgage Financing   N/A   4,750,000   2,920,000 

 

Table VI. Purchases of Property Within Last Three Years

 

   Program 4   Program 5   Program 6 
Date Property Purchased  2/13/2017   9/30/2016   10/17/2016 
Type of Property  single family   single family   condo 
Gross Square Feet (when completed)  4,460   6,691   3,717 
Total Cost of Property, Including Improvements  3,351,000   4,250,000   2,150,500 
Mortgage Financing  2,145,000   2,359,050   1,310,000 

 

3