7 years in multifamily and mobile home park investing. 7 years as a licensed agent. I do flips and new construction as well. I own a 3rd party property management company that manages over 1,000 units. My portfolio consists of 333 units. My hobbies and passion includes spending quality time with my wife and daughter and competitive bodybuilding.
Address: 3120 Minnesota Avenue, Panama City, FL 32405 “Cottage Grove”
Number of Units: 86
Value Add Deal? Yes
Purchase Price: $2,000,000
Estimated monthly increase projected? $143,500
Anticipated value after value add: $16MM
Estimated Cash on Cash Return: 11-13%
Estimated Internal Rate of Return: Infinite after refi
Excellent material especially the books sent directly to me. Ed Mylett is a great coach/person.
I have had a relationship with the seller for 5 years. The property was on the market but going through litigation. We bought it once litigation with the local municipality was done.
Owner financing for property. Triad lending for purchase order from manufacturer.
Getting answers from the city attorney confirming we may execute our business plan.
Thorough due diligence. Key partnerships.
* 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.