The FIG Real Estate Acquisition Fund, LLC, is designed to create a real estate based asset portfolio targeting properties with existing cash flow and appreciation potential while providing investors an anticipated exit strategy in 5-7 years. The focus of the Fund is to obtain the highest possible risk-adjusted returns through the purchase of residential or commercial real estate for the specific purpose of generating income, appreciation, and tax shelter through depreciation. The fund manager shall use its extensive relationships to select from properties that may be off market, bank owned, at auction, or pre-foreclosure, which could result in superior buying opportunities for the fund. The primary geographic areas of interest will be the major metropolitan areas of Texas and Oklahoma, however, other geographic areas may be considered if opportunistic conditions exist. The primary acquisition targets will be a diversified portfolio of single family homes, apartments, and multi-plex homes with a potential to generate a cash flow yield of 10-15% per annum.