We have established "FAI
– Riverdale I, LLC” for the purpose of acquiring certain real property
in Riverdale, Fresno County, California, located 36 minutes from
downtown Fresno and subsequent sale of the paper lots to a development
entity which we are forming concurrently with this entity.
“FAI – Riverdale I, LLC”
investors own 35% of the property in conjunction with Jonathan Land
Development et al, (The Developer) which owns 65% of the project. The
company was formed to acquire the land only. Investors have an equity
stake in this project in the form of a capital account based on the
amount of their investment as a percentage of 35% of the total return.
Total investment is
$1,205,000. We acquired 40 acres which yielded 180 lots with a sale
price of $15,000 each to be sold to the development LLC. We are in
contract at $15,000 per lot prior. This produces a profit of $535,278
for the investors, a 44.42% return. In addition, there is some revenue
generated from farming of the land during the entitlement process and
option payments from the development LLC which are not included in the
return shown above, but will be shared by the Investors.
No interest is paid on
your capital contribution. Return of our capital and profits within
18-24 months after September 15th
2006. Net profit shall be allocated to the Members in proportion to
their percentage interests.
As a member of this
Limited Liability Company, no member shall be personally liable for any
debt, obligation, or liability of the Company, whether that liability or
obligation arises in contract, tort, or otherwise.
Any questions should be
directed to either Lee Kauftheil at 800-689-8323, Greg Meister at
650-400-5599, or Ron Kahn at 650-279-0366
