Letter from the President, September 30, 2011

To our M1 family members,

MONOPOLY I, LLC (M1) made significant progress toward full recovery from the tornado damage this past May in Joplin as well as completed two major renovation projects in Macomb during the third quarter 2011. Hard work pays off and I believe that M1’s pay-off is right around the corner. We have invested over $275,000 in apartment renovations during this past quarter, of which $268,921 was due to the tornado damage suffered in Joplin, MO. Insurance payments received were $251,702. Although we would never want to profit from a natural disaster, it is important to note that we now have six new apartments, two new roofs, and 82 new windows for a total out of pocket cost of $17,219.

As you review the financial results you will see many positive trends beginning to develop. Our rental income has bounced back significantly, over a 36% increase from 2Q11, now that we have completed the renovations in Macomb and Joplin has stabilized. We expect our rental income to continue to increase as we rent the six apartments recently completed in Joplin. Secondly, our interest expense (largest operating expense) continues to decrease. Year-to-date our interest expense is $83k compared to $103k during the same time period last year. This is a direct reflection of management’s decision to reduce debt and our ability to decrease our cost of capital through the issuance of short-term bonds with an average rate of 4%. Our net cash flow for the quarter was $600. Our goal is to reinvest 100% of our operating income back into our properties thus obtaining a net zero operating budget each quarter. Our property portfolio’s value increased $50,000, due to higher occupancy, current rental rates and market rent multipliers. We continue to attract investors as we added two new families to ours during the quarter and we have issued a total of 28,666 member shares year-to-date. Now for the negative news—our securities portfolio. The third quarter was very challenging for our REITS and mutual fund. Our securities portfolio was down 10.54% during the quarter lead by CGM Realty fund which was down over 20%. With this said, our dividends received were $3,403, a 111% increase over the same period last year and 27% higher than 2Q11.

Our 3Q2011 financial report will be given online through Adobe Connect on October 25, 2011. Please check the blog under “Financial News and Reports” for further information. If you are unable to join us, the presentation will be recorded and available until November 6, 2011.

In summary, I’m very excited about the upcoming quarter as we continue to recover from the tornado in May and in particular as we continue to renovate our apartments providing quality housing in the communities we serve. Our management team remains focused on the long-term and we will continue to do the small things right each day to get us there.

God bless,

BILL