Warrior Win

Jesse Jenifer | $13M Value-Add Multifamily Syndication Closed

Jesse Jenifer

Introduction

Founder and General Partner of MultiLiving Solutions: Jesse “JJ” Jenifer leads a real estate syndication firm focused on large value-add multifamily properties across the Sunbelt.

Academic and Professional Expertise: Holding degrees in Economics and Computer Science from Binghamton University, JJ applies conservative underwriting, thorough due diligence, and asset management expertise to every deal.

Balanced Lifestyle and Commitment: Beyond real estate, JJ enjoys golfing and quality family time with his wife and two daughters, embodying a harmonious blend of work and leisure.

Warrior Program Connection: Leveraging the Warrior Coaching Program’s mentorship and network, JJ has accelerated his syndication success and is dedicated to helping others achieve financial freedom through real estate investing.

Learn more about Warrior Coaching →

Property Overview

Property Name: Oak Park Villas
Location: 4701 31ST ST S, St Petersburg, FL 33712
Number of Units: 44
Value Add Deal: Yes
Purchase Price: $8,130,000
Projected Monthly Rent Increase: $300 per unit
Anticipated Value After Value Add: $13,000,000
Estimated Cash-on-Cash Return: 8%
Estimated Internal Rate of Return (IRR): 16%

How This Deal Came Together

Deal Source

Broker Relationship: The property was sourced through strong broker relationships, demonstrating the power of networking within the Warrior community.

Equity Raise2

Total Equity Raised: $3,780,000
How It Was Raised: 506(b) private syndication offering, engaging accredited investors ready to invest in value-add multifamily deals.

Financing Structure

Loan Terms: 5.78% fixed rate financing secured with the assistance of Tyler Carney-DeBord.

Syndication Type: Structured as a syndication, allowing multiple investors to participate and share returns.

Value-Add Strategies

Exterior Enhancements: Spruced up curb appeal with landscaping, updated signage, and roof replacements to attract quality tenants.

Interior Renovations: Renovated 24 classic units upon turnover to increase rents by $250-$300, aligning with market rates.

Section 8 Maximization: Leveraged existing 13 vouchers at $1,700 with plans to increase to $2,100, boosting rental income with minimal capital expenditure.

Additional Income Streams: Implemented a cable package to generate ancillary revenue.

Operational Efficiency: Streamlined expenses to improve net operating income.

Expansion Potential: Secured an extra acre zoned for 12-18 additional units, positioning for future growth.

Challenges Faced

Natural Disasters: Overcame the impact of two hurricanes immediately before closing, requiring resilience and adaptability.

Property Encroachments: Resolved an issue with the electric company’s fence encroaching on the property boundaries.

Seller Delivery Issues: Managed seller delays and incomplete unit conditions at closing.

Capital Raising: Navigated the complexities of raising equity for a first-time syndication.

Warrior Program Support

Mentorship and Collaboration: Received invaluable guidance from the Warrior GP team, including Francesco Orselli, Michael Davidov, Scott Jacobson, Bharat Kona, and Jacob Dermer, whose negotiation skills and transaction coordination were critical.

Network Synergy: Connected with fellow Warrior Francesco through Tyler Carney-DeBord, enabling a joint offer that secured the deal at $150,000 less than the initial bid.

Community Value: The Warrior Program’s network proved essential in overcoming hurdles and optimizing deal terms.

Lessons Learned & Key Takeaways

Building a Ready Investor Audience: JJ learned that initial interest from friends and family does not guarantee investment; consistent outreach and social media engagement are key to cultivating committed investors.

Patience and Persistence: Recognized that growing a syndication business is a slow game requiring steady relationship-building.

Power of Trusted Partnerships: Valued working with experienced Warriors over higher fees with unknown partners, emphasizing trust and shared values.

The Warrior Program truly proved its value with this deal!

Jesse Jenifer

Be the Next Warrior Success Story

Jesse Jenifer’s journey from first-time syndicator to closing a $13 million value-add multifamily deal exemplifies the transformative power of the Warrior Coaching Program. With expert mentorship, a supportive investor community, and strategic collaboration, you too can overcome challenges and scale your real estate portfolio. Don’t wait to build your financial future—join Rod Khleif’s Warrior Program today and start closing deals with confidence!

Warrior Success Stories

Play Video

Warrior Win

Jesse Jenifer | $13M Value-Add Multifamily Syndication Closed

Jesse Jenifer

Introduction

Property Overview

How This Deal Came Together

Deal Source

Equity Raise2

Financing Structure

Value-Add Strategies

Challenges Faced

Warrior Program Support

Lessons Learned & Key Takeaways

Be the Next Warrior Success Story

Warrior Success Stories

Featuring Elsa Nguyens #682

Immigrant Mom To Massive Success In Multifamily

Featuring Oliver Fernandez #721

From 7 to 1000 units in 3 years

Featuring Rasool Mutawakkil #715

$10MM in Multifamily Assets Under Management in One Year

Let’s Get Started

Let’s Get Started

READ OUR

2022

Vision

Warrior Win

Jesse Jenifer | $13M Value-Add Multifamily Syndication Closed

Jesse Jenifer

Introduction

Property Overview

How This Deal Came Together

Deal Source

Equity Raise2

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

Value-Add Strategies