Warrior Win
Cindy and Damion
Gaynor-Harper
My husband Damion Harper and I started our RE experience together in 2020. I am a Real Estate Agent practicing for 7 years and Damion is a 20 year Veteran in the US Army. We have a combined passion about our family, self transformation, networking, and philanthropy.
Property Details
Address: Sedgwick Apartments
Number of Units: 24
Value Add Deal? Yes
Purchase Price: $6,000,000
Estimated monthly increase projected? Current in place rents are at $1.85 psf/month and market rents in the surrounding area are at least $2.56 psf per our appraisal for a 2-bed unit. Bringing the entire building to the average market rent of at least $2.56 psf would translate into $209,592 per year of additional revenue. The Property has received $625,000 in renovations over the past four years elevating the living standard to match the area. About half of the units have been renovated from a very good quality to premium and are commanding over $1,000 more in monthly rent ($1600 jump to $2600).
Anticipated value after value add: $8,200,000
Estimated Cash on Cash Return: 8.32%
Estimated Internal Rate of Return: 14.06%
Warrior team
shout outs:
Any comments about your experience so far in the Warrior Program?
We joined this program in hopes of one day leaving our w-2s and after consistent networking and exposure, we are one step closer.
How did you find this property?
Through our sphere of influence
How did you structure the financing of this property?
We passively invested in the property as LP’s with the intent to purchase additional shares and greater involvement after closing.
Was this a joint venture or syndication?
Syndication
How did you raise the equity?
Personal funding used
What was the equity raise?
$2,500,000
What are some hurdles you had to overcome to get this deal done?
We had no issues with this deal.
What are some of the lessons you learned with this deal?
Next time, we will make sure to have more involvement before p&s is signed to have a bigger stake in the deal.
* 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.