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Happy Holidays to all!

This has been a banner year for the Zinner Group. We completed the joint venture projects with Joe Lee Inc. and look forward to doing more financing for his Team. Our investers earned over 20 % return on their capital in these projects. Not bad for our first joint ventures.

More importantly, we also accomplished our first year goal of purchasing 10 rental properties. When fully rented these properties are throwing off a 16% ROI. (After closing costs, vacancies, and remodling expenses are figured in.) Currently we only have 1 vacancy in the last purchase we made and renovated, which should fill in December without any problem.

Aliou has moved to Oklahoma and done an outstanding job of managing all the properties. In addition to working at Palm Harbor Homes, he is investigating our moving to purchase some of these homes at wholesale and selling them at retail. This requires a whole new skill set to make this fly and Aliou is doing the research and working closely with Shari Ward, of Remax, and Bruce Fleck at Traditional Mortgage.

The last avenue we are exploring is in the area of home forclosures. We are currently trying to purchase a bank forclosed home which requires a little fix up, and should be ready to sell.

I just want to thank all our advisors, investors, and especially family members, for all their support this year. We have met all our goals set for the year. May next year be a repeat performance.

Steven A. Zinner

"SAZ"

So her

Aliou