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Address: 4757 Hayes Road, Madison, WI 53704
Number of Units: 126
Value Add Deal? Yes – Hotel to Apartment conversion
Purchase Price: $3,950,000
Estimated monthly increase projected? We plan to take it from $0 revenue to $1,700,000 EGI by year 3
Anticipated value after value add: Stabilized $17,000,000 ($15,400,00 as complete value per appraisal)
Estimated Cash on Cash Return: 8%
Estimated Internal Rate of Return: 18%
I would not be where I am today without this group of people.
Off-market from broker
Local bank, construction to perm fixed rate
Syndication
Investor list of friends, family, and referrals.
$3,100,000
This project had some big hurdles along the way, like city approvals, a deed restriction that prohibited more than 36 units, the deal fell out of contract once, the state forced us to sub-meter all units, and our credit union pulled out 11 days before closing… just to name a few.
Too many to list here. Biggest one, keep moving forward.
* 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.
If you hold interest in multifamily property investing, then we have numerous multi-family real estate investing courses for you under which we offer the best multifamily investing coaching. All you need to do is to enroll yourself in one or more programs and we will provide the best apartment investing coaching as we connect you with apartment investors network. So, what are you waiting for? Enroll today!
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242 S. Washington Blvd Suite 319
Sarasota, FL 34236
