Warrior Win
Bonnie Schwam
I have been a residential Realtor since 2005 and until the past several years only had residential rentals in my portfolio. I then joined with Grant Cardone 10X and became a LP on Class A properties in Florida, I believe that portfolio has over 1,400 units. I then joined Rod’s Warrior group where I became acquainted with my coach Eric Upchurch and Powell Chee the king of self-storage. I joined this group on the acquisition of 7 properties and over 2600 self-storage units in and around Beaumont Texas.
Property Details
Address: Radiant Storage Beaumont 7P
Number of Units: 2,634
Value Add Deal? Yes
Purchase Price: $16,685,000
Estimated monthly increase projected? depends on properties
Anticipated value after value add: up to $28,000,000 in 3-5 years
Estimated Cash on Cash Return: 10-11%
Estimated Internal Rate of Return: 16-18%
Warrior team
shout outs:
Any comments about your experience so far in the Warrior Program?
I feel heard, I feel like I am a part of something big and exciting and this opportunity will lead to more deals with more warriors.
How did you find this property?
It was already under contract, I came on as investor relations and capital raiser.
How did you structure the financing of this property?
It came down to a Seller financed deal, way better for everyone.
Was this a joint venture or syndication?
Syndication.
How did you raise the equity?
It was a 506B so I had to reach out to people I knew.
What was the equity raise?
$10M.
What are some hurdles you had to overcome to get this deal done?
Financing was a big one, as was capital raising.
What are some of the lessons you learned with this deal?
Team work makes the dream work!
* 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.