Multifamily investments generally require a commitment of several years - typically 5-7 years or more. Each opportunity has an anticipated holding period, but property performance and market conditions can affect the timing of a sale. You should be prepared to keep your capital invested for the full term, potentially longer, with limited ability to access it early.

You should not expect to withdraw your capital on demand. These are long-term investments with restrictions on selling or transferring your ownership interest. Any available options depend on the offering documents and may require approval. Consider your need for access to that money before committing.

You are responsible for reviewing the opportunity and deciding whether it fits your objectives. Once invested, you do not handle leasing, maintenance, or daily property operations. Phelps oversees the investment and works with property management to execute the business plan. You can review updates and ask questions throughout ownership.

Each offering outlines its anticipated distribution timing. Actual payments depend on available cash after expenses, debt payments, and reserves, along with the terms of the investment. Distributions may be delayed, reduced, or suspended if the property needs to retain cash. An anticipated schedule is not a guarantee of payment.

Phelps provides updates on property performance, progress on the business plan, and material developments affecting the investment. Our responsibility is to explain what is happening, the decisions we are making, and what remains uncertain. You are welcome to ask questions throughout ownership.

We evaluate what has changed and whether the business plan needs to be adjusted. Depending on the circumstances, that could mean revising improvements, addressing operating issues, or reconsidering the timing of a sale. Our responsibility is to explain the situation, the actions we are taking, and the potential impact on your investment. Adjustments cannot guarantee a recovery or prevent losses.