Former Financial Advisor with 10 years of experience. Real Estate Investor (Wholesaler & Flipper) for the past 6 years. Landlord for the past 2 years.
Address: 48 N 17th St East Orange NJ
Number of Units: 2
Value Add Deal? Yes
Purchase Price: $137,000
Estimated monthly increase projected? $3,500
Anticipated value after value add: $325,000
Estimated Cash on Cash Return: 29.66%
Estimated Internal Rate of Return: 16.35%
It’s been great! Excited to be able to focus more on buying more and more doors.
With my car magnets at a local Home Depot
Cash Partner – 50/50 split. Used partner’s money to purchase and rehab project. Put in 30k of my own money. Refinanced out at 70% LTV. Now both partner and I have 30k each in property. 60k total.
Private investor that I’ve used on other projects.
210000 Partner + 30000 me
Managing the renovations.
Outsource the renovation work. Hire a project manager.
* These examples depicting income or earnings are NOT to be interpreted as common, typical, expected, or normal for an average student. Although we have numerous documented successful deals from our coaching students, we cannot track all of our students’ results, and therefore cannot provide a typical result. You should assume that the average person makes little to no money or could lose money as there is work and risk associated with investing in real estate. The students depicted have participated in Rod’s training and coaching. The participants shown are not paid for their stories.