Letter from our President-April 7, 2012

To our M1 family members,

MONOPOLY I, LLC (M1) has been extremely busy this quarter with 11 apartments under renovation and planning for three additional renovations to be completed during the 2Q. M1 experienced an increase in their rents collected of 18% and set a new record ($81,728) for rental income received in a quarter. Additionally, we increased our assets, reduced our liabilities and increased share member equity while investing significant capital in renovations and growing our securities portfolio. We are off to a great start for 2012.

The “Review of 1Q 2012 Financial Results” section of this report will identify many trends, however I’d like to call your attention to a few:

-Quarterly rental income is on a positive trend. During 1Q12 our quarter rental revenue was $81,728. In 2011 it was: 1Q: $53,542, 2Q: $42,756, 3Q: $52,472, and 4Q: $69,190. You can see the effect the May tornado had on our rental income during 2Q, and how the company has recovered from this disaster as well as the positive trend since 3Q11 following our completed apartment renovations and bringing these apartments to the market.

-Financial leverage and Cost of Capital have been reduced. This positions our company well for future financing opportunities with lower interest rates. At the end of 1Q12 our financial leverage was 48% and our average interest rate on debt is 6.05%.

-Securities portfolio growth is in line with our goal. Our securities portfolio will provide dividends beginning in the second half of 2012—with our first dividend payment to be paid on January 31, 2013. During the first quarter our dividends received was $4,480. In 2011 our quarterly dividends received were 1Q: $2,305, 2Q: $2,663, 3Q: $3,403, 4Q: $4,358.

As we look to the remainder of 2012, I remain very optimistic about the continuing prospects and opportunities for MONOPOLY. From a strategy perspective, M1 will continue to identify assets that offer an outsized risk-return trade-off and a higher yielding return in a low interest rate environment. Additionally, M1 will bring 11 apartments to an under-supplied rental market and complete three more apartment renovations at Highland Ave. These renovations will increase debt, however with our share members’ continued capital investments we will be able to accomplish our scheduled renovations and in time reduce this debt with additional rents collected. This effort will complete our property renovations and position us perfectly as we begin the dividend-paying phase of our company’s life cycle on July 1, 2012. If you would like a more detailed conversation, I would welcome an opportunity to talk.

God bless,

BILL