EAC Analysis Spreadsheet How To Guide 12 February 2016 POC: Vil Nikollaj vnikollaj@eacgp.com 858.876.4845 EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

High-Level View & Color Coding Enter data in sequential order 1) Quick tab – enter core info to determine if property warrants additional Due Diligence 2) Analysis tab – points to quick tab for core info & in depth analysis of property 3) Summary tab – used to present to investors 4) Performance tab – actual #s compared to pro forma, calculates performance ($, time, %) Rev tab – details major changes made Legend – color scheme EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Quick Tab Enter core information about property. - If not known, use approximate or leave blank Based on Rental/Flip (2 core businesses), will determine Values. - If actual values close to or above our Rough Criteria, provide to MP and determine if more in-depth analysis is needed EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Analysis: What the buttons do 1/2 will hide/show all columns past column H +/- will hide/show section below If you are only proposing a FLIP, select - sign above all sections not applicable If you are proposing Rental, select - sign for all sections not applicable 1/2 will hide/show the top row (hide if you want to print for investor) EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Analysis: Step 1 – Enter property info & picture Insert picture Populate areas in beige If property not a rental, erase info, otherwise provide comps EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Analysis: Step 2 – ARV calculations (3 comps) Provide information in spreadsheet. If provided CMA from appraiser or Realtor, just include in the property package (Dropbox) vs. re-entering. We only want the data to validate the ARV. EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Analysis: Step 3 – Update ARV, WS Fee, Closing Most data copied from Quick tab (gray) Automatically calculated if flat fee (eg. $3,000) overwrite with this value. ARV - will use Quick tab. If comps in Step 2 are different, update the Quick tab #s Enter purchase closing costs (different for each market) EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Analysis: Step 4 – If rental Enter remaining items in beige. If your agreement is different (i.e. management, GP % not 10% and 20% after refi), modify it. - If JV not agreed upon yet, please justify why your #s are different than the pro forma. Placement fee varies – set to 1 mo rent, then ½ mo after refi (assuming turnover 2 years) EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Analysis: Step 5 – If flip Enter remaining items in beige. If your agreement is different, (i.e. different payout or commission), modify it. - If JV not agreed upon yet, please justify why your #s are different than the pro forma. EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Summary: Step 6 Change to either Flip or Rental, Formulas will link to necessary data GP - Fill in information about the project MP - populate Proposed ROI and Plan for Project EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/

Performance: Step 7 Fill in items in beige. Instructions next to cells EAC Group Investments | 9834 Genesee Avenue Suite 310 La Jolla, CA 92037 | Tel 858-449-9847 | Web http://eacinvestments.com/