investment summary

this is neither an offer to sell nor a solicitation of an offer to buy the securities described herein. The offering is made only by The prospecTus. This maTerial musT be read in conjuncTion wiTh The prospecTus in order To undersTand fully all of The implicaTions and risks of The offering of securiTies To which iT relaTes. a copy of the prospectus must be made available to you in connection with the offering described herein. no offering is made except by a prospectus filed with the Department of Law of the state of new york. neither the attorney General of the state of new york nor any other state regulators have passed on or endorsed the merits of this offering. any representation to the contrary is unlawful.

the underlying assumptions and any forward looking statements herein may not be accurate, the projections herein shown may not occur, and your performance may vary significantly. To the extent the information in this

brochure conflicts with the information in the prospectus, the information in the prospectus shall govern.

the securities offered are an illiquid investment and involve a high degree of risk; investors should be able to bear the loss of some or all of their investment.

Past performance is no indication of future results and there can be no assurance that steadfast income reit, inc. (“steadfast income reit”) will be able to execute the business plan for the properties or the offering.

The properties pictured, which may consist of illustrative renderings of properties, are properties in which steadfast income reiT does not have an ownership interest but are representative of the types of properties in which we may invest.

not for use in arkansas, pennsylvania, Tennessee.

securities Offered through steadfast Capital markets Group, LLC member: Finra & siPC

you should Know:

risk factorsan investment in steadfast income reit involves a high degree of risk. you should purchase shares only if you can afford a loss of some or all of your investment. you should carefully consider the information set forth in the “risk Factors” section of the prospectus for a discussion of material risk factors relevant to an investment in our common stock, including, but not limited to, the following:

• No public market exists for shares of our common stock. It may be difficult to sell your shares, and if you sell your shares, it may be at a significant discount• Steadfast Income REIT, our sponsor and our advisor are newly formed entities with no prior operating history• The amount of distributions we may pay to you in the future, if any, is uncertain. Our distributions may be paid from cash flow from operations as well as sources such as borrowings, offering proceeds or advances and the deferral of fees and expense reimbursements by our advisor• This is a “best efforts” offering and if we are unable to raise substantial funds we will be limited in the number and type of investments we may make, which could negatively impact your investment• This is a “blind pool” offering and you will not have the opportunity to evaluate our investments prior to purchasing shares of our common stock• Our advisor and its affiliates will face significant conflicts of interest• A portion of the proceeds will be used to pay commissions, fees and expenses, a portion of which will be paid to our advisor and its affiliates. These fees were not negotiated at arm’s length and therefore may be higher than fees payable to unaffiliated parties• The initial offering price of our shares of common stock was not established based upon any appraisals of assets and may not accurately reflect the value of our assets when you invest • We intend to incur mortgage indebtedness and that may increase our business risks and could hinder our ability to make distributions• Our failure to qualify as a REIT would reduce our net earnings available for investment or distribution

sources and additional disclosures

Page 41: source: “Coming of age in a Financial Crisis,” PPr, may 19, 2009 by adrian Ponsen.

Page 6 2: Please review the prospectus in its entirety and refer to “Prospectus summary – Distributions” and “ – Real Property Portfolio Operational Data,” respectively.

3: Please review the prospectus in its entirety and refer to “Description of Capital Stock – estimated net asset value Per share.”

3

We believe that the recent decline in the real estate market

presents strong investment opportunities in the multifamily

and industrial sectors over the next several years.

at steadfast Companies, our industry professionals

structured steadfast income reit as a non-traded, real

estate investment trust (reit) to acquire and manage

stabilized, income-producing properties with a focus on

workforce apartment housing, and with features and

benefits that may help accomplish investors’ goals as

part of a diversified investment strategy.

through the offering described herein, we are selling

up to $1,500,000,000 in shares of common stock in

steadfast income reit to the public at an initial price

of $10.00 per share.

Please continue to review this brochure along with the

prospectus for additional information on features and

benefits – like our selected property focus,

investment strategy, fee deferral, monthly

operational data and net asset Valuation.

“Over the next three years, investors should be presented with generational opportunities to step into core and high-growth markets at a discount due to distressed sales of properties unable to refinance maturing debt.1”

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• A real estate investment trust (REIT) is a company that pools the money of many investors to purchase and, in most cases, operate income-producing properties • To qualify as a REIT, a corporation must pay 90 percent of its annual taxable income to investors in the form of distributions • Congress passed legislation in 1960 to allow individual investors the opportunity to participate in the ownership of income-producing properties in the form of a reit

for investors, including a real estate allocation within an investment portfolio may offer a number of key advantages such as:

• Diversification• Inflation protection• Stable cash flows relative to more traditional asset classes like stocks• Attractive risk-adjusted returns

What is a REIT?

Source: Morningstar, NCREIF, 2009. Returns are 10 year trailing returns ending 03/31/09. “Stocks” are Standard and Poor’s 500 Index; “Bonds” are Barclays Capital Aggregate Bond Index; “T-Bills” are 3-month Treasury Bill; NAREIT is the FTSE NAREIT US Real Estate Index which is an index that measures the performance of publicly traded REITs and real estate companies. real estate/nCreiF is the nCreiF Property index. the return and risk are represented by the arithmetic average return and standard deviations, respectively. the nCreiF Property index is an index of quarterly returns reported by institutional investors on investment grade commercial properties owned by those investors and is not a measure of non-traded REIT performance. The NCREIF index does not reflect management fees. Returns to our stockholders will be reduced by our management fees. In addition, the NCREIF Property Index is based on appraisals and does not reflect the same market volatility as the NAREIT Index which is based on transactions in the marketplace. Indices are not available for direct investment. Portfolios shown are illustrations only and do not represent specific investments. Past performance does not guarantee future results. Comparisons of this data under different timeline scenarios may yield dramatically different results. real estate, like any other investment, may go down in value.

Real estate’s historically low correlation to other asset classes may help diversify an investment portfolio, lower risk and increase overall return.

real esTaTe

T-bills

sTocks

bonds

20% reaL estate in POrtFOLiO

return: 3.94%risk: 5.07%

nO reaL estate in POrtFOLiO

return: 2.18%risk: 6.54%

10% reaL estate in POrtFOLiO

return: 3.09%risk: 5.63%

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steadfast income reit Offering Highlights

offering “Best efforts” offering of $1,500,000,000 shares of common stock

price per share $10.00 during initial offering period

distribution reinvestment plan (drip)

$9.50 per share during initial offering period

minimum investment $4,000 with additional investments in $100 increments

investor suitability

$70,000 gross annual income and $70,000 net worth or net worth of at least $250,000 (excluding the value of the investors home, furnishings and automobiles). *

property focus multifamily (anticipated between 55% - 75%)** industrial (anticipated between 20% - 30%)**

investment objectives

1) Preserve, protect and return stockholders’ invested capital2) Pay attractive and stable cash distributions to stockholders3) realize capital appreciation in the value of investments over the long-term

distribution declared 7.0% annualized, paid monthly

use of proceeds

Primarily acquire real property and real estate-related investments as well as to pay organization and offering costs

fee deferral2

During the offering period, our obligation to pay all fees to our advisor will be deferred (up to an aggregate of $5 million) in an amount equal to the amount of distributions paid in any calendar quarter that exceed our adjusted funds from operation (aFFO) up to an amount equal to a 7.0% cumulative, non-compounded annual return on stockholders’ invested capital

portfolio operational data2

added transparency with monthly operational data for viewing by shareholders with respect to each real property in our portfolio

net asset Valuation3

Publicly disclosed semi-annually beginning no later than 6 months following the completion of our offering period. Based on valuations by independent third-party appraisers and valuation experts

The income you want…the confidence you need.

**up to an additional 25% could be a combination of real estate-related assets and other investment types.

*alabama, iowa, Kansas, Kentucky, michigan, maine, nebraska, Ohio and Oregon have different suitability standards; see prospectus for details.

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Why Focus on Multifamily?

• attractive yields – Properties purchased below replacement cost with moderate

debt should provide favorable risk-adjusted returns

• echo boomers – apartment renters are predominantly under 35, and the

U.S. Census Bureau projects that by 2020 the number of 20-34 year olds will

reach an all-time high of almost 68 million

• declining homeownership rates – the homeownership rate has retreated

from its 2004 high and we believe that more stringent lending practices, higher

unemployment levels and the overall economic impact on u.s. households from

the recent recession will increase demand for apartments

• employment projections – We expect unemployment to drop to 7.6% for

2012 and 6.3% in 2013. this strong employment growth should facilitate renewed

demand for apartments

• constrained supply – We expect new supply of apartments to be well below

long-term averages until 2012, which will funnel renter interest towards existing

apartment communities

• Added diversification – We believe that including investments in workforce,

age-restricted and government assisted housing within the multifamily sector can

provide greater diversity as they tend to have stable occupancy and income

across economic cycles

Why Include Industrial?

• connection to gdp

growth – Historically,

growth in the gross

domestic product (GDP)

drives demand for industrial

space and we believe that as

the economy recovers,

demand for industrial space

will increase

• attractive purchase

opportunities – We

expect that the recent

capital crunch will bring

distressed properties to

market, which may allow us

to purchase assets well

below replacement cost,

thereby driving long-term

value and creating the

opportunity for

appreciation in the assets

• historically favorable

sector attributes –

industrial assets can offer

investors above-average

cap rates, above-average

net cash returns and

below-average volatility

• long-term demand –

We believe the prospect

for growth is strong for

2011 and beyond and that

demand will outpace supply

by 1% - 1.5% per year

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Steadfast Income REIT

is sponsored by

Steadfast REIT

Investments, LLC,

an affiliate of

Steadfast Companies.

steadfast Companies is a group of fully integrated

real estate management, investment and development

companies that own and/or manage a portfolio of

over 125 properties with an estimated fair value

over $1.5 billion (as of 12/31/09).

During the 10-year period ended December 31, 2009,

steadfast Companies had, directly or indirectly, sponsored

57 privately offered prior real estate programs that raised

approximately $306 million from investors.

steadfast coordinates the administrative, accounting and

support services across its four real estate divisions –

Residential, Commercial, Business and Resort – with over

400 professional staff in the u.s. and mexico.

Who is Steadfast Companies?

Steadfast Companies Milestones

1994

1995

1996

1999

20001994 – steadfast Companies is founded by rodney F. emery.

1995 – 1st multifamily property acquisition with two institutional partners, which was sold 18 months later at a profit.

1996 – steadfast Commercial Properties division is started.

1999 – multifamily portfolio grows to 38 properties.

2000 – steadfast management Company, inc. is formed.

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Steadfast Income REIT benefits from the resources,

expertise and capabilities of steadfast Companies.

the acquisitions team has a keen understanding

of the market dynamics and fundamentals of the

apartment and industrial sectors that has been

honed over decades of experience.

additionally, a steadfast Companies management

company will provide property management services

for Steadfast Income REIT’s multifamily and industrial

real estate investments. these property management

professionals are experienced to handle the day-to-

day management of the real estate, as well as lease

administration, tenant improvement, vendor

management, risk management, affordable housing

compliance, accounting and fund management.

experienced teamSteadfast’s five Core Values – Proceed with

Integrity, Value People, Embrace Opportunities,

Pursue Excellence and Do Good as We Do Well – have

been the cornerstone upon which the company has

built a 16-year track record focused on capitalizing

on real estate investment opportunities for its own

account and on behalf of institutional partners.

Steadfast Companies’ investment philosophy and

Core values have allowed it to develop strong

relationships with lending institutions, national

tenants, institutional investors and industry partners.

Core values

2004

2005

2006

2009

20102000

2009 – steadfast launches steadfast Capital markets Group to offer investment programs through retail broker-dealers and institutional channels.

2004 – steadfast Business Properties division is formed to pursue industrial and office properties.

2005 – steadfast adds a 4th operating division, steadfast resort Properties, to own and manage resorts in the u.s., mexico and the Caribbean.

2006 – multifamily portfolio spans 18 states with over 120 properties owned and/or managed.

2010 – a portfolio with an estimated fair value over $1.5 billion is owned and/or operated across the u.s. and mexico, including approximately 14,500 multifamily units.

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an investment in steadfast income reit may be an attractive complement to an investment portfolio for investors seeking:

stability

experiencedteam

trust

and an

working for your

• the opportunity for stable, attractive cash distributions

• no daily price volatility often associated with traded securities

• Potential capital appreciation

• a diverse and experienced real estate investment management team

• a reit investment focused on acquiring stabilized properties that

produce immediate income

• a focused multifamily investment strategy with select investments

in industrial properties

• Diversity across apartment community subcategories to include

workforce, age-restricted and government assisted housing

• Access to investments not burdened by ‘legacy issues’ (challenges brought

about by the recent decline in real estate values coupled with historically

high indebtedness)

• added transparency with monthly operational data with respect to each

property in the portfolio

• a net asset valuation per share no later than 6 months following the

completion of our offering period

• evaluation of a possible liquidity event beginning no later than 01/01/2015

• an anticipated 5-7 year investment period

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your next steps...

Meet with your financial advisor today. By working with your financial professional, he or she can help you

decide if an investment in steadfast income reit may be suitable for

you. together with your advisor, you can decide on the investment

strategy that best meets your needs, lifestyle and financial goals.

to learn more, call our sales desk at 877-525-sCmG (7264).

11

18100 von Karman avenue, suite 500irvine, Ca 92612

877-525-sCmG (7264)Fax: 949-333-1798

www.steadfastreits.com

SIR01-110410

Steadfast Income REIT is sponsored by Steadfast REIT Investments, LLC, an affiliate of Steadfast Companies.

steadfast Capital markets Group, LLC, member Finra & siPC, is the dealer manager for the steadfast income reit, inc. offering.

Steadfast Companies’ mission is to pursue real

estate investment, development and management

opportunities responsibly and with integrity for

the benefit of our investors, partners, tenants,

employees, company, and the community.