Our Place Community House

Prepared for: Potential Partners Prepared by: Matthew & Jenny Krumdrick March 8, 2013

An Intentional Community for Young Adults Discerning Whats Next

Dear Potential Partner,

With great excitement we invite you to consider partnering with us on a compelling and profitable real estate investment project. With the help of financial partners like you, we envision establishing "Our Place" Community House, a furnished and affordable intentional community for young adults to lease and live with others who share their core values. With this endeavor, we can combine our knowledge and love of ministry with a wise real estate investing opportunity. Please read the attached proposal and prayerfully consider investing in this worthwhile and impacting project. We are happy to answer any questions or provide more details upon your request. You can check out the website at www.OurPlaceCommunityHouse.weebly.com. We look forward to hearing from you within the week.

Blessings on your day,

Matthew & Jenny Krumdrick
508 Cowles Ave, Joliet Il 60435 JenKrumdrick@yahoo.com 815-514-0051

Our Place Community House

Prepared for: Potential Partners Prepared by: Matthew & Jenny Krumdrick March 8, 2013

An Intentional Community for Young Adults Discerning Whats Next

Our Vision
Our Place will provide young adults an affordable, furnished home to live, in community with others, while discerning and living out their path in life. Young adults will find a supportive environment as they decide on and segue to their next stage. Young adults desiring to live in community will commit to supporting the culture of Our Place with a six, nine, or twelve month lease. Once established, the community members will interview and select potential new members. Community members monthly rent includes use of a furnished private room, shared kitchen, dining room and living room, as well as all utilities. Community members will determine a common budget for food and meals.

Our Core Values

Fellowship: community members are present to each other to journey with each

other; includes weekly discussion times and shared meals Faith: community members practice the faith they proclaim Personal growth: community members actively discern their direction for whats next

Our House
We plan on purchasing a beautiful and spacious two unit home in the historic Cathedral District of Joliet. Each unit has three bedrooms, large kitchen, dining room, and living room. One unit would house women, the other, men. The fully finished basement and fenced in yard will provide for additional space for recreation and hospitality.

www.OurPlaceCommunityHouse.weebly.com

815-514-0051

Our Place Community House

Our Community Members
Our Place will appeal to young adults who are: Emotionally mature and capable of sustaining relationships Have a personal, spiritual practice or path Have time for community chores, meals, meetings, the hospitality duties, and "hanging out" Are friendly, respectful, and live with integrity Our Place will appeal to young adults who may be: Just finishing a season of full-time service work (volunteer corps, missionaries, etc.) Discerning entering seminary Looking for furnished, affordable housing in a community setting Looking for short term housing before moving on to the next stage of education, service work, missionary work, etc.

An Intentional Community for Young Adults Discerning Whats Next

Our Network to Find Community Members

We have already begun creating a network of promoters to connect young adults with Our Place. Young Adult Ministries & office of vocations in Diocese of Joliet NET Ministries (National Evangelization Team) Amate House (Volunteer Group in Chicago) AmeriCorps Program Catholic Apostolate Center in Chicago Lutheran Service Volunteer Corps Catholic Newman Centers Local Universities and Colleges Intentional Community Database (website with community living opportunities around the country and the world) www.directory.ic.org

Once the Community House is established, the word will spread among the groups of young adults that are seeking housing. We will correspond with our network contacts seasonally to ensure constant exposure.

www.OurPlaceCommunityHouse.weebly.com

815-514-0051

Our Place Community House

Our Potential Property
This legal 2-Unit building is located at 419 Raynor Ave in Joliet, Il. This solid, all brick building was built in 1924 and is in excellent condition (updated kitchens and baths). The owner is asking $155,000. It has been on the market (on and off) for over 18 months. Taxes $6,300 (per year) Insurance $1,600 (per year) Monthly utilities $620 (water $200, gas $200, electric $150, internet $70) Total expenses $1,280 (taxes, insurance and utilities per month) Income $3,420 ($570 per bedroom, 6 bedrooms total)

An Intentional Community for Young Adults Discerning Whats Next

Our Partners
We are looking for financial partners to help finance Our Place Community House. This endeavor, while certainly a ministry, is also a means for wise real estate investing. Partners will earn 4% a year (amortized over a 10 year period) with a balloon payment after 5 years. For instance, for every $10,000 invested, $1,200 will be returned each year (semi-annually) and a balloon payment of $5,620 returned at the end of 5 years; that is a total of $11,620 (a gain of 16.2%). The amortization schedule for a $10,000 contribution is below.

Amortization Schedule for $10,000 invested

Returns will be made bi-annually. At the end of 5 years, the 10th payment includes a balloon payment for the remainder of the balance of the investment.
Payment # 1 2 3 4 5 6 7 8 9 10 Balloon Payment Final Payment Total Interest Paid Total $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $5620.12 $6220.12 $1620.12
815-514-0051

Principal $400 $408 $416.16 $424.48 $432.97 $441.63 $450.46 $459.47 $468.67 $478.04

Interest $200 $192 $183.84 $175.52 $167.03 $158.37 $149.54 $140.53 $131.33 $121.96

Balance $9600 $9192 $8775.84 $8351.36 $7918.39 $7476.76 $7026.30 $6566.83 $6098.16 $5620.12

www.OurPlaceCommunityHouse.weebly.com

Our Place Community House

Our Experience
Matthew and I have been working in ministry for over 10 years and successfully been investing in real estate for 5 years.

An Intentional Community for Young Adults Discerning Whats Next

Ministry
Matthew has been directly involved in leadership of young adult ministry in the Diocese of Joliet for 12 years. Matthew and Jenny have many preestablished and new connections with ministries and people that work with young adults that would be drawn to living in community.

Real Estate Investing

Matthew and Jenny purchased their first investment property in 2009. Matthew and Jenny manage this property and have updated each of the three units. Rents have increased and the net cash flow on the property is $1,275 per month.

Matthew and Jenny are recognized Jenny learned real estate investing role models for young adults as well as from a year long intensive program successful professional ministers in and called Prosper with on-line classes and around the diocese. personal mentoring. Matthew and Jenny continue to receive wise counsel from experienced real estate investors, a realtor, their attorney, and financial advisors.

Why Not Have a Traditional Mortgage from a Bank?

1. Traditional lenders have become so strict with investment property loans that obtaining a regular mortgage from a bank is unaffordable. 2.Working with financial partners is a win-win scenario: partners make a greater return on their investment while the interest that is paid in the long run is less (because the loan is amortized over only 10 years as opposed to 30). 3. Ministerially speaking, partners also support this ministry of young adults with prayer.

www.OurPlaceCommunityHouse.weebly.com

815-514-0051

Our Place Community House

Comparative Market Analysis
A Comparative Market Analysis looks at the pending and recent sales of similar properties in the area to determine the fair market value of a home. With the help of our realtor, we have researched similar properties in the Joliet area and have found that 419 Raynor is a perfect fit for Our Place and, when compared to other multi-unit properties, is priced accurately to its value. We invite you to review the Comparative Market Analysis in detail; it is on the website under the Our Partners tab as a pdf document.

An Intentional Community for Young Adults Discerning Whats Next

Statement of Housing Non-discrimination:

Because our housing offers two single units and requires the sharing of bathroom, kitchen and common space membership/residency may be restricted based on sex/gender in accordance with the law. Our community does not discriminate based on race/color, national origin, religion, family status (i.e. having children, not having children, or being pregnant), disability, marital status, sexual orientation, ancestry, source of income, age, creed, personal appearance, political affiliation, HIV infection, military/veteran status, unfavorable military discharge, gender identity or expression, receiving public assistance, or domestic abuse.

www.OurPlaceCommunityHouse.weebly.com

815-514-0051