Warrior Wins – Chris & Chelsey Grant

Warrior Win

Chris & Chelsey
Grant

Chris Grant founded Evolve Equity to combine his knowledge and passion for the real estate investment industry with the desire to help others achieve financial independence and passive income. With over a decade of experience directly owning, renovating, and managing a portfolio of real estate assets, Chris provides specialized expertise in property management, contractor management, budget constraints, renovation timelines, and efficiency of daily operations. He is currently the lead sponsor on a multifamily syndication in the Phoenix market and is passively invested in three syndications across 453 units.

Chris currently lives in Arizona with his wife and three children, and in his spare time enjoys exercising, attending concerts, and traveling.

Property Details

Address: 2223-2255 E Cactus Road, Phoenix, AZ 85022 (Cactus Road Apartments)
Number of Units: 24
Value Add Deal? Yes
Purchase Price: $2,500,000
Estimated monthly increase projected? $300/unit
Anticipated value after value add: $$4,130,632
Estimated Cash on Cash Return: 8%+
Estimated Internal Rate of Return: 15.84%+

Warrior team
shout outs:

Any comments about your experience so far in the Warrior Program?

We love the community and network within the Warriors program. Rod is ALWAYS adding more content and value to the group.

How did you find this property?

It was part of a direct to seller campaign.

How did you structure the financing of this property?

Community Bank

Non-Recourse

30 year AM

12 year term (7 fixed + 5 year option)

2 years I/O

3.5% Interest

Was this a joint venture or syndication?

Syndication

How did you raise the equity?

506(b) Close friends and family.

What was the equity raise?

$1,355,000

What are some hurdles you had to overcome to get this deal done?

Since this was direct to seller it was a “mom & pop” operation. They had less than desirable book keeping, their PM was actually just a residential broker, competing offer came in after signed LOI, re-trading after inspection, intensive lender requirements since this was our first deal, executing the syndication process without a team member who has done one before.

What are some of the lessons you learned with this deal?

We learned so much from actually taking the deal from LOI to closing. Work on getting soft commitments from your network prior to having a deal. Be very solid on the team you will be using and the abilities / time each of them can commit.

* 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.