Aspen Meadow Summary

1. Aspen Meadow Apartments
Hopkinsville, Kentucky 258 Units
Confidential Investment Memorandum

2. Disclosure
The information contained herein is confidential and solely for the use
of prospective investors to determine their interest in investing in
Aspen Meadow Apartments located in Hopkinsville, Kentucky. While
the information contained in this overview, plan, and projection is
believed to be reliable based on data from various sources, neither
Glenn Gonzales, Mike Ballard, Kevin Romney or Mike Woodfield nor
their representatives make any representations, guarantees or
warranties as to the accuracy or completeness herein.
All financial information and projections are provided for reference
only and are based on assumptions relating to the general economy,
market conditions and other factors beyond our control. All
prospective investors are encouraged to conduct their own
independent due diligence investigation, review, and financial
analyses. They should consult with their legal, tax, and other
professional advisors before making any investment decisions. Do not
distribute without authorization from the deal sponsors.

3. Executive Summary
Aspen Meadow is a 258-unit community located in beautiful
Hopkinsville, KY. The property is situated in serene, park-like
setting, and is only minutes from downtown Hopkinsville, with
fine dining, shopping, and entertainment.
The apartment homes were constructed from 1979 to 1989
and consist of 31 two-story, townhouse and garden-style
buildings, and a freestanding one-story building which houses
an indoor pool. All units are equipped with a full-size
dishwasher, central air conditioning and heat, private
balconies or patios, refrigerator, electric range, garbage
disposal, walk-in closets, and a washer/dryer hook-up.
Aspen Meadow also offers its residents play-grounds, a
basketball court, an indoor swimming pool and picnic area.
Plan
The plan with Aspen Meadow Apartments (purchased under
CVG NV2 Aspen Meadow, LLC) is to complete the remaining
renovations, stabilize the property and refinance with HUD
debt within the first 24 months. Then hold the property for an
additional three years before sale of the property.
If there is an unforeseen change in the market that does not
allow for a favorable sale at the time, the low interest rate
HUD loan will allow the property to be held until the market
returns to favorable conditions at which time it will be sold.
Project Details
Purchase price: $15,480,000
Number of units: 258
Purchase price per unit: $60,000
Acres: 25
Year built: 1979 to 1989
Investment Details
Capital required: $4 million
Minimum investment: $100,000
Investment due date: October 10, 2020
Closing date: October 15, 2020
Preferred return: Seven Percent (7%)
Five-year annualized return: 19.9%
Investor equity multiple: 1.85

4. Project Details
Built in 1979, 27 buildings
Fitness & Recreation: multiple playgrounds,
an indoor swimming pool, and walking and
biking trails
• Outstanding purchase price at $60,000
per unit
• Rents are $73-$182 below market
• We will increase occupancy and
increase revenue to improve
profitability
• 30% sponsorship promote,
2% asset management.
• All projections reflect net returns
to investors
Aspen Meadow
Unit Mix & Rent Summary
Type Count Mix % Sq. Ft.
Current
Rent
Market
Rent
Per S.F.
2 Bed / 1 Bath 180 69.8% 860 595$ 725$ 0.84
2 Bed / 1 Bath 40 15.5% 960 702$ 775$ 0.81
2 Bed / 2 Bath 24 9.3% 1,100 705$ 780$
2 Bed / 2 Bath 14 5.4% 1,350 723$ 905$ 0.67
258 100.0% 924 629$ 748$ 0.81
Unit Summary

5. Investment Rationale
• Proximity to significant employment including large military base
• Below-market rents
• Newly remodeled units and new amenities
• Favorable Seller-Financing
• Proximity to Nashville
The seller is a contractor-developer that held the property debt free and has
remodeled the majority of the units. He has been more interested in making
the improvements to the property than actively managing the property. He
has found another development opportunity and is ready to move on.
Given the current situation and our team’s expertise in leasing and
management we are confident we can increase occupancy and rents. We have
also been able to secure seller financing that, along with the changes proposed
for the management of the property will allow us to create excellent cash-on-
cash returns for the project.

6. BUSINESS PLAN
• Increase occupancy – currently 79%
to go to 94+%
• Remodel remaining 33 units
• Increase rents to market rate –
implement an average of 17
percent or $115 increase
• Implement state-of-the-art
technology to help us run the
property more efficiently and serve
tenants better
• Use seller financing to complete
remodel and then place low-interest
HUD loan debt on property

7. Location
Clarksville
Hopkinsville
Nashville
Fort Campbell Kentucky
Tennessee

8. Local Economic Indicators
Resorts World Las Vegas

9. Exterior

10. Interiors

11. Return of Capital
Multiple Exit Plans
• Plan A: Execute five-year business plan and
sell,
or
• Plan B: Hold long-term

12. Financial Dashboard

13. Capital Expense Forecast
Total Capital Expense Budget: $ 963,900

14. Five-year Operating Forecast
T12 Year 1 Year 2 Year 3 Year 4 Year 5
Revenue Rent growth >>> 22.76% 1.97% 3.98% 3.97% 1.97%
Gross Scheduled Income 1,946,664 147.3% 2,389,680 127.9% 2,436,724 110.9% 2,484,701 110.5% 2,533,530 110.9% 2,583,529
Lost Rent - Vacancy (610,000) -46% (406,246) -22% (121,836) -6% (124,235) -6% (126,681) -6% (129,176)
Other Income, Concessioins & Bad Debt (14,934) -1% (115,734) -6% (118,049) -5% (112,410) -5% (122,719) -5% (125,275)
Gross Operating Income 1,321,730 100% 1,867,700 100% 2,196,839 100% 2,248,056 100% 2,284,130 100% 2,329,079
Expenses
Management Fee 54,390 4% 56,031 3% 65,905 3% 67,442 3% 68,524 3% 69,872
Payroll 225,000 17% 230,000 12% 234,600 11% 239,292 11% 244,078 11% 248,959
Office and Admin Expense 36,120 3% 36,120 2% 36,842 2% 37,579 2% 38,331 2% 39,097
Leasing and Marketing 24,000 2% 24,000 1% 24,480 1% 24,970 1% 25,469 1% 25,978
Contract Services 58,050 4% 58,050 3% 59,211 3% 60,395 3% 61,603 3% 62,835
Insurance 51,600 4% 70,000 4% 70,700 3% 71,407 3% 72,121 3% 72,842
Legal & Prof. Fees 15,000 1% 15,300 1% 15,606 1% 15,918 1% 16,236
General Maintenance 77,400 6% 85,000 5% 85,850 4% 86,709 4% 87,576 4% 88,451
Taxes 65,790 5% 140,000 7% 141,400 6% 142,814 6% 144,242 6% 145,685
Apartment Turnover Costs - 0% 28,000 1% 28,000 1% 28,000 1% 28,000 1% 28,000
Utilities 181,000 14% 190,000 10% 193,800 9% 197,676 9% 201,630 9% 205,662
Miscellaneous 83,401 6% 90,000 5% 90,000 4% 90,000 4% 90,000 4% 90,000
Total Operating Expenses 856,751 65% 1,022,201 55% 1,046,089 47.6% 1,061,889 47.2% 1,077,491 47.2% 1,093,620
Expense Percent of Gross Revenues 64.8% 54.7% 47.6% 47.2% 47.2% 47.0%
Net Operating Income 464,979 35% 845,499 45% 1,150,750 52.4% 1,186,167 52.8% 1,206,639 52.8% 1,235,459
Non Operating Expenses
Capital Reserves 64,500 64,500 64,500 64,500 64,500
Asset Management Fee 37,354 43,937 44,961 45,683 46,582
Non-operating Expenses 101,854 108,437 109,461 110,183 111,082
Financing Expenses
Debt Service - Principal - - 233,479 240,571 248,383
Debt Service - Interest 460,530 460,530 469,183 462,732 454,940
Total Debt Service 460,530 460,530 702,663 703,302 703,323
Cash Flow Before Taxes (2,958,000) 283,115 581,783 374,043 393,154 421,054
Analytics
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5
Debt Service Coverage Ratio 1.84 2.50 1.69 1.72 1.76
Cash-on-Cash without Sale 7.5% 15.3% 10.1% 10.6% 11.1%

15. Investor Returns
Year 1 Year 2 Year 3 Year 4 Year 5
Cash Available from Operations 283,115$ 581,783$ 374,043$ 393,154$ 421,054$
Surplus from Sale - - - - 1,667,464
Cash Available for Dividends 283,115 581,783 374,043 393,154 2,088,518
Preferrential Return @ 7% 265,860 265,860 167,629 167,629 167,629
Return Paid Current 265,860 265,860 167,629 167,629 167,629
Shortfall / Surplus 17,255 315,923 206,414 225,525 1,920,889
Return Paid in Arrears - - -
Resultant Shortfall / Surplus 17,255 315,923 206,414 225,525 1,920,889
First Waterfall 7 to 15 percent
Limited Partner's Split is 70% 12,079 221,146 144,490 157,867 739,340
Total First Waterfall 12,079 221,146 144,490 157,867 739,340
Resultant Surplus 1,181,549
Second Waterfall above 15 percent
Limited Partner's Split is 50% - - - 590,774
Limited Partner Return Summary Year 1 Year 2 Year 3 Year 4 Year 5
Preferential Returns 265,860$ 265,860$ 167,629$ 167,629$ 167,629$
Excess Distribution From Operations 12,079 221,146 144,490 157,867 1,330,114
Capital Returned at Refi 1,403,300
Capital Returned at Sale 2,394,700
Limited Partner Total Return 277,939$ 1,890,306$ 312,119$ 325,496$ 3,892,443$
Limited Partner Cash-on-Cash Return 7.3% 49.8% 8.2% 8.6% 102.5%

16. Corporate Structure
CVG NV2 Aspen Meadow, LLC
EIN:
Approximately $4,000,000
Ownership Entity 100%
(Property Owner and Borrower)
Limited Partners
$4,000,000 Capital Investment
(50% Class A Equity)
Aspen Meadow Manager, LLC
EIN: 85-2276455
(50% Class B)
Managing Member GP
$0 Equity Investment
NV2 Holdings, LLC
Michael Woodfield & Glenn Gonzales
EIN: 83-2317431
$0 Capital Investment
(50% owner of Aspen Meadow Manager, LLC)
(Manager and Loan Guarantor)
Camino Verde Group, LLC
Ineight Holdings & Ballard Consulting
EIN: 84-2815818
$0 Capital Investment
(50% owner of Aspen Meadow Manager, LLC)
(Manager and Loan Guarantor)

17. Class A – Limited Partners (Investors)
Limited Partners will place 100% of the capital in exchange for 50% promoted equity in the project.
Investors will receive 100 percent of all cash flows until they have achieved a seven percent (7%)
preferred return on capital invested.
After their receipt of the preferred return of seven percent, limited partners will receive 70% of cash
flows until they receive a 15% percent annualized return. Cash flows above a 15 percent Limited Partner
return are split 50/50 with the General Partners. Camino Verde Group and NV2 typically invest alongside
other passive investors into the Class A pool. Class A members do not guarantee any loans.
Class B – General Partners (Camino Verde Group and NV2 Holdings)
The General Partners will have 50% promoted equity in the project. They will not receive any
distributions until after Class A members receive their seven percent (7%) preferred return.
After the Limited Partners earn the preferred return of seven percent, General Partners will receive 30%
of cash flows until the Limited Partners receive a 15% percent annualized return. Cash flows in excess of
14% will be shared equally by Class A and Class B members. The General Partners are the guarantors on
loans and provide all “Risk Capital” including up front costs and earnest money to purchase the property,
up front loan costs, legal fees, third party report costs, etc.
Other Capital Event – Refinance
Refinance proceeds are first applied to pay the current loan off and any refinance costs, accrued
preferred return, and are next given to Class A investors as a Return of Capital, reducing their investment
basis in the deal.
Investment Structure

18. Sponsors
NV2 Holdings is a diversified real estate investment firm whose
principals have acquired more than 30 apartment communities
with more than 5,000 units in Texas, Michigan and Georgia
totaling over $400 million in assets.
NV2 Holdings has a deep knowledge in renovation of assets
ranging from 50 units to 650 unit apartment communities. They
have done renovations totaling over $25 million in construction
and millions of dollars in value added. With a combined 35 years
of experience Glenn Gonzales and Mike Woodfield founded NV2
Holdings in 2019.
Camino Verde Group (CVG) is a real estate investment firm
focused on underperforming multifamily properties. CVG
structures value-add opportunities which deliver superior risk-
adjusted returns to investors by implementing moderate to
extensive renovations, improving management, and designing
creative capital solutions.
Founded in 2019, CVG has invested in properties in three states,
primarily multifamily assets, totaling more than $100 million.

19. Sponsorship Team
Glenn Gonzales
CEO, partner, and co-founder of NV2 Holdings. Glenn is an entrepreneurial individual with more than 30
years of real estate experience. Glenn served as President of the Washington Multifamily Housing
Association in 2006. Glenn owned and grew Place 10 Residential, a Dallas-based Property Management
firm with 6,500 units under management, which he sold in 2018. Prior to owning Place 10, Glenn
worked in multi-family and commercial property management with companies such as Equity
Residential, Evergreen Management Group, Glacier Management. He is also a licensed real estate
broker in multiple states and earned the CPM (certified property manager) designation from IREM.
Over Glenn’s career, he has acquired and sold many multifamily properties on the ownership side,
primarily in Texas and is continuing to aggressively and profitably expand his portfolio. Glenn has owned
more than 4,500 units throughout his investment career. He is also author of the bestseller book,
Maintenance Man to Millionaire: Real Estate Wealth Creation for Everyday People, published in 2019.
Mike Woodfield
Cofounder, partner and COO of NV2 Holdings, CPM Candidate. Mike started his career as a
partner in Solstys Environmental. He grew the company from $340,000 to $2,210,000 in
annual revenue in just under 1.5 years while overseeing 45 employees.
After Solstys Mike was able to leverage his strong operational skillset in Austin Texas where
he oversaw the asset management of nearly $300 million in multifamily deals for the last
four years. During that time Mike oversaw the renovation of 2,200 multifamily units totaling
$20,000,000 in improvements which created millions in value-add.
Mike has participated in the acquisition, asset management and renovations of 750
apartment units.

20. Sponsorship Team
Mike Ballard
Co-founded Camino Verde Group and has thirty years of experience in all facets of real estate
operations, including entitlement, acquisitions, development, renovation, dispositions,
property management and finance. Mike has been involved in the development and/or
renovation of multifamily, retail and office properties as well as data centers. Mike is currently
involved in the development of more than $200 million of multifamily or mixed-use real
estate in California, Nevada and Utah.
Mike was a founding member of the board of the Lied Institute for Real Estate Studies at
University of Nevada, Las Vegas and also helped with the formation of the local National
Association of Industrial and Office Properties (NAIOP) and Construction Financial
Management Association chapters. He has helped start three banks and served on the board
of one of them. Early in Mike’s career, he worked for Laventhol & Horwath, CPAs. After
Laventhol, he joined McGladrey & Pullen before starting his own consulting firm.
Kevin Romney
Co-founder and Managing Director of Camino Verde Group, Kevin leads the firm’s efforts in
the acquisition and disposition of its multifamily assets. Kevin also oversees
financial planning, analysis and underwriting. He began his career at Ernst & Young becoming
a CPA.
A serial entrepreneur, he has built, and sold numerous businesses throughout his career in
the contact center, medical, franchise and clean energy industries. As part of this work, he led
the build-out and renovation of several commercial and retail properties.

21. Owner Track Record

22. Owner Track Record
Clarendon Apartments
Fayetteville, Georgia
108 Units
Camino 2575 Apartments
Las Vegas, Nevada
36 Units
Las Vegas, Nevada
36 Units
Las Vegas, Nevada
24 Units
Camino 1107 Apartments Camino 2556 Apartments

23. Based in Clarksville, Tennessee, Nex-Gen Management
manages multifamily properties in western Tennessee and
Kentucky. The firm is owned and operated by Ben Stanley and
Billi Jo Suiter.
Nex-Gen Management believes in steering innovative
strategies that serve to generate revenues, build dynamic
teams, and deliver vigorous customer service to an
increasingly demanding public. They implement a, "Leading
from the front" management style that has been the catalyst
for restoring morale to resurrect financially and image
damaged properties.
They bring more than 20 years experience in real estate
property management and ownership. They write and
implemented efficient work schedules, policies, programs and
procedures that deliver results for their client owners.

24. Why Invest in Multifamily?
Best Risk-Adjusted Returns
Over the 25-year period from 1992 through 2017, multifamily real estate
provided the highest average annual total returns (9.75%) of any commercial
real estate sector with the second lowest level of volatility (7.75%), according
to research cited in a 2018 report by CBRE, the world’s largest commercial real
estate investment firm.
Millennials Place Strong Demand On Rental Properties
According to data from the U.S. Census Bureau, renting represents the most
common form of housing for the millennial generation, the largest generation
in U.S. history. The national rate of homeownership for millennials aged 25 to
29 it was just 31% and for millennials aged 30 to 34 it was only 45%.
Baby Boomers Are Increasingly Opting To Rent
The National Multifamily Housing Council and National Apartment Association
cited in a 2017 report that renters aged 55 and above account for more than
30% of rental households.
Lease Agreements Allow For Faster Increases In Rent
Office, industrial and retail leases are typically five years or more. Multifamily leases
are typically just one year.
Increasing Demand For Workforce Housing
According to the 2017 State of the Nation’s Housing study by Harvard Research,
comes down to simple supply and demand. As the study found, while construction of
high-end Class A properties has increased in recent years, it has fallen for the Class B
and C properties. In other words, workforce housing is facing a shortfall of units.
That study found, for example, that in the decade between 2005 and 2015, the
supply of rental housing stock increased by nearly 100% for high-end units, but
during that same period the stock of affordable units fell by 2%.
Preferential Investment For Financing
Multifamily investments enjoy a preferential mortgage market and better funding
terms relative to other types of commercial real estate.

25. Confidential Investment Memorandum
Aspen Meadow Apartments
Hopkinsville, Kentucky 258 Units
For more information contact:
Glenn Gonzales
512-937-5964
glenn@obsidiancapitalco.com
Kevin Romney
702-379-8857
Kevin@caminoverdegroup.com