PIC Alliance Fund, LLC

In my opinion, their demonstrated strength appears to be raising investor capital and structuring transactions, not operating the underlying businesses successfully. The compensation structure rewards raising and acquiring assets more reliably than it rewards producing strong investor outcomes. Meanwhile, the investments I participated in have materially underperformed the expectations presented when I invested. In the storage fund, construction remained unfinished years after acquisition, occupancy was below target, distributions were suspended and the fund was not generating positive cash flow after debt payments and fund expenses. In the car-wash investment, distributions have been far below the stated preferred-return rate. These results have caused me to question whether the organization has the operational discipline and business-management capabilities needed to execute successfully after a deal is funded. I cannot know the principals’ intentions, and neither investment has completed its final exit. However, based on the execution problems, limited distributions and fee structure I have observed, I believe the incentives are poorly aligned with investors. I would not invest with this sponsor again.

Invested in PIC Car Wash 2 Fund in 2022 through Next Level Income (Chris Larsen). NOI was way off projections from day one. Distributions have been almost non-existent for 2 years. Updates are helpful but do not provide any timeline or horizon for distribution resumption and/or exit. Meanwhile the GPs continue to collect their asset management fee every year that the fund drags on. Disappointed with the GPs.

PassiveInvesting.com Real Estate Debt Fund 1: I was looking for low-risk investment vehicles to place capital while earning a reasonable return. One option I've found is the PassiveInvesting.com Real Estate Debt Fund. The investment strategy is straightforward: the fund provides short-term loans to real estate fix-and-flip investors, primarily in the South Carolina market, to meet their capital needs. The fund offers: • An 8% preferred annual return • A choice of monthly compounding or non-compounding distributions • 90-day liquidity I invested in the fund in July 2025. I received my first partial distribution in August, followed by my first full monthly distribution in September. If you're interested in learning more, I'd recommend reaching out to the PassiveInvesting.com team to discuss whether the fund is a good fit for your investment objectives.

I invested 5 years ago in self storage fund. As time went on the investment thesis fell apart which I understand happens. What I am more disappointed in that the admin team from the company does not address issues or overall strategy. Investment updates conflict and give different information thus making it hard to know what is going on. I regret ever investing with this team and I feel bad for recommending my friends to invest here, as they are also looking at losses.