[SNOW BECKER KRAUSS P.C. LETTERHEAD]

                                                                    EXHIBIT 99.1

                                                          January 14, 2003

AmeriFirst Fund I, LLC
1712-H Osborne Road
St. Marys, GA 31558

                      Re: AmeriFirst Fund I, LLC
                          Registration Statement on Form S-1 File No. 333-98651

Gentlemen:

      We have acted as special counsel to AmeriFirst Fund, I, LLC a Florida
limited liability company (the "Fund") and AmeriFirst Capital Corp., a Florida
corporation which will be the lead underwriter of the offering of up to One
Hundred Million Dollars ($100,000,000) aggregate amount of units evidencing
fractional pro rata beneficial interests in the Fund. Capitalized terms not
otherwise defined herein have the meanings specified in the Underwriting
Agreement.

      In that connection, we have examined originals, or copies certified or
otherwise identified to our satisfaction, of such documents, corporate records,
certificates and other instruments as we have deemed necessary or appropriate
for the purposes of this opinion, including (a) the Certificate of Formation of
the Fund and the Certificate of Incorporation of the lead underwriter and the
resolutions of the Board of Managers of the Fund and the Board of Directors of
the lead underwriter, (b) a form of Life Settlement Purchase Agreement to be
entered into between the Fund and AmeriFirst Funding Group, Inc. (the "Life
Settlement Purchase Agreement"), (c) the Operating Agreement of the Fund, (d)
the Registration Statement (the "Registration Statement") on Form S-1 filed with
the Securities and Exchange Commission ("Commission") for registration of the
Units under the Securities Act of 1933, as amended (the "Securities Act"); and
(e) the related Prospectus to be filed with the Commission as a part of the
Registration Statement ("Prospectus").

      In our examination, we have assumed the genuineness of all signatures, the
authenticity of all documents submitted to us as originals, the conformity to
original documents of all documents submitted to us as certified or photostatic
copies and the authenticity of the original of such copies. We have also assumed
the correctness and completeness of the statements made in the documents
submitted to us.

      Our opinion is based upon the laws and documents examined as they exist as
of the date of this opinion and any modification, repeal, amendment, or
authoritative interpretation of the laws or modification or amendment to the
documents occurring subsequent to the date of this opinion may cause our opinion
to vary from that set forth below.



      Based upon such examination, and relying solely upon the foregoing,
subject to the assumptions, exceptions, comments, and qualifications herein
expressed, we are of the opinion that:

            The Issuance and sale of the Units in the manner contemplated by the
Registration Statement and the purchase by the Fund of life insurance polices
which are not securities, will not cause the Fund to be required to be
registered under the Investment Company Act of 1940.

            We hereby undertake to update this opinion, as necessary, during the
course of the offering period.

            We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the summarization of this opinion in the
Prospectus.

            We are attorneys admitted to the Bar in the State of New York, and
we express no opinion as to the law of any jurisdiction, other than the
corporate law of the State of New York and federal law.

                           Very truly yours,


                           /s/ Snow Becker Krauss P.C.

                           SNOW BECKER KRAUSS P.C.