Warrior Win

Jay & Tana Boersma
124 Units Closed

Jay & Tana Boersma

Experienced Real Estate Professionals

Jay and Tana Boersma are managing partners at Neighborhood Capital Resources (NCR), combining decades of expertise in residential lending and real estate investment. Jay holds a BS in Finance and has nearly 30 years of experience in residential lending and multifamily property investment, focusing since 2019 on value-add multifamily deals with an emphasis on affordable housing. Tana brings over 20 years of mortgage lending experience, excelling in transaction coordination and asset management. Together, they are committed to delivering safe, clean housing for tenants and secure, high-yield opportunities for investors.

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Property Overview

Bricktown Apartments: 124 Unit Value Add Deal

Location: Stillwater, Oklahoma

Number of Units: 124

Deal Type: Value Add

Purchase Price: $7.8 million

Projected Monthly Rent Increase: $150 per unit

Anticipated Value After Value Add: $11.7 million

Estimated Cash-on-Cash Return: 7-8%

Estimated Internal Rate of Return (IRR): 15-18%

How This Deal Came Together

Deal Source

Off-Market Opportunity: The property was initially in “best and final” in June 2023 but did not sell. It returned off-market in July 2024. The seller’s family connection added unique insight, as the complex was originally developed by the partner’s father in 1972.

Equity Raise

Total Equity Raised: $3.2 million

How Equity Was Raised: Through mom & pop limited partners (LPs) and other capital raising partners, leveraging strong investor relationships cultivated through the Warrior Program.

Financing Structure

Loan-to-Value (LTV): Bank financing covered 70% of the purchase cost plus 70% of capital expenditures (CAPEX).

Syndication Type: Syndication

Value-Add Strategies

Interior Renovations: Five interior renovation line items averaging $5,000 per unit, totaling roughly $8,000 per unit. Few units require all five improvements; several units require none.

Rent Increases: Projected $150 monthly rent increase per unit post-renovation, driving significant NOI growth.

Challenges Faced

Bank Timing Delays: Bank financing timing caused delays, putting pressure on the capital raise timeline.

Poor Bank Communication: Communication issues with the bank complicated the process.

Capital Raise Timing: Not all capital was raised by closing, requiring some partners to “gap fund” the deal temporarily.

Warrior Program Support

Capital Raise Assistance: Whitney McNair provided critical boots-on-the-ground support and helped with capital raising.

Team Spark: Hilary Graves contributed vital energy and support during the capital raise, adding momentum to the deal’s success.

Lessons Learned & Key Takeaways

Have More Capital Identified Before Contract: Ensuring capital is secured prior to contract signing is essential to avoid funding gaps.

Leverage Experienced Partnerships: Partnering with seasoned Warriors and coaches adds immeasurable value and insight.

Stay Resilient Through Challenges: Flexibility and persistence are key when facing financing and operational hurdles.

Even with 25 years of real estate and lending experience, I didn’t know what I didn’t know. Partnering with my coach and two other experienced Warriors on my first deal has been invaluable—many times worth the price of admission

Jay Boersma

Be the Next Warrior Success Story

Jay and Tana’s journey exemplifies how expert mentorship, strategic partnerships, and a supportive community can transform real estate investing success. Their ability to overcome financing challenges and execute a complex value-add syndication deal highlights the power of the Warrior Program. If you’re ready to elevate your multifamily investment career, join Rod Khleif’s Warrior Mentorship Program today. Gain access to proven systems, expert coaching, and a network that will help you close more deals, raise capital efficiently, and build lasting wealth. Apply now and start your own Warrior Win!

Warrior Success Stories

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Warrior Win

Jay & Tana Boersma
124 Units Closed

Jay & Tana Boersma

Experienced Real Estate Professionals

Property Overview

How This Deal Came Together

Deal Source

Equity Raise

Financing Structure

Value-Add Strategies

Challenges Faced

Warrior Program Support

Lessons Learned & Key Takeaways

Be the Next Warrior Success Story

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Let’s Get Started

Let’s Get Started

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2022

Vision

Warrior Win

Jay & Tana Boersma 124 Units Closed

Jay & Tana Boersma

Experienced Real Estate Professionals

Property Overview

How This Deal Came Together

Deal Source

Equity Raise

Financing Structure

Value-Add Strategies​

Challenges Faced

Warrior Program Support

Lessons Learned & Key Takeaways

Be the Next Warrior Success Story

Warrior Success Stories

Let’s Get Started

Let’s Get Started

Jay & Tana Boersma
124 Units Closed

Value-Add Strategies