Quality Deal Flow:
The assets in which ECF invests are "bankable" on their face, with favorable terms. Bulk Financiers (Banks, Conduits) provide 80% of Acquisition Financing at 250 to 300 basis points above 10 year Treasuries (current rate approx 5.75%), 10 year call, and amortized over 30 years.

Banks do this, as you know, because the underlying asset has generated predictable, persistent income at a debt coverage ratio of +1.25 for at least 2 years. They value our product because it had been generating and will continue produce reliable cash flow, on the day of purchase, and well into the foreseeable future.

Banks may not loan you a dime to purchase their own company stock. They will loan you 80% of the money you need to purchase a business that generates predictable, persistent and reliable income, all day long. The favorite loan of a banker has been and always will be Apartment Buildings. For this reason, we already have 80% of our capital, within 45 days of asking, in place for acquisition.

Banks are risk-adverse and love dependable, predictable cash flow that can be seen and understood; as do we, as do our investors.

Value
1. VALUE IS SUBJECTIVE ….

• VALUE is made up of Utility and the COST to Achieve the Utility
• PRICE is INCIDENTAL TO Value
• PRICE is NOT a Value Statistic!

2. A PERSISTENT INCOME STREAM possesses tangible ECONOMIC VALUE

• Its value is NOT Arbitrary
• INCOME is NOT a measure of "stockholder or market" confidence.

3. GROWTH PUMP / Two (2) "hidden in plain sight"

• Deflation (Price Adjustment )
• Inflation (Currency Adjustment)

To determine the Economic Value of an Income Stream, We gauge "cost" in the specific market in which we acquire the asset .

• Sustainability of its Persistence.
• the Present and Future "relative worth" (Inflation)
• the strength and worth of the Currency in the