Warrior Win
Benjamin Cedarland
I have been involved in residential real estate development for 20 yrs. I held a few duplexes and 6-plexus along the way. I started pursuing Multi family about 2 yrs ago.
Property Details
Address: 518 Linda Dr San Marcos Texas
Number of Units: 72
Value Add Deal? Yes
Purchase Price: $12,000,000
Estimated monthly increase projected? $130/unit
Anticipated value after value add: $16,000,000
Estimated Cash on Cash Return: 10.5%
Estimated Internal Rate of Return: 16.22%
Warrior team
shout outs:
Any comments about your experience so far in the Warrior Program?
The Networking and support from the program has been amazing. I would not have the GP positions that I do without it.
How did you find this property?
Through a relationship with a fellow Warrior and a Property Management company.
How did you structure the financing of this property?
Bridge Loan.
Was this a joint venture or syndication?
Syndication
How did you raise the equity?
Existing personal and business relationships.
What was the equity raise?
$3,800,000
What are some hurdles you had to overcome to get this deal done?
This was my first active involvement in a syndication so that was a whole new process for me.
What are some of the lessons you learned with this deal?
Set up the legal purchasing entity and syndication paperwork sooner in the process.
* 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.