Multifamily owner-investor with 27 years of experience.
Address: Creekside Apartments in Rochester, MN
Number of Units: 72
Value Add Deal? Yes
Purchase Price: $5,900,000
Estimated monthly increase projected? $17,000
Anticipated value after value add: $8,800,000
Estimated Cash on Cash Return: 8%
Estimated Internal Rate of Return: 19%
Awesome!
Doing comp analysis at another property. This one was one of the comps.
Assumed Agency Loan (that was in default).
Syndication.
506b.
$3.2 million.
One of the buildings got condemned by the City while we were under contract.
It’s a lot easier when everyone else does the raise.
* 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.