Warrior Win

Colby Bowers

Colby is a full-time real estate investor and co-founder of Veteran Pride Investment Group LLC. He has been investing in real estate since 2001 and has managed numerous fix and flips, a portfolio of single-family rentals as well as been a private note lender. Colby realized that for scalability and long-term wealth that multi-family real estate acquisitions are where he needed to be. In the last 36 months he has acquired over 600 rental units and expanded his company into four states. Colby has a passion for helping people to safely invest in real estate. He loves real estate because of the controllability of your inputs and outputs, risk aversion, and tax incentives. He also served 23 years of distinguished military service as a senior executive managing facilities and projects in multiple states, multi-million-dollar budgets, and hundreds of enlisted Air Force Members. As a wounded warrior, he has a passion for giving back to his community by helping homeless and struggling veterans and supporting first responders.

Property Details

Address: Oriole Crossing Apartments, 99 Oaks MHP,  Patriots part II MHP
Number of Units: 114
Value Add Deal? Yes
Purchase Price: $36,00,000
Estimated monthly increase projected? $150-$200 for oriole crossing, $250 per pad for both parks
Anticipated value after value add: $1.6M for Oriole Crossing, $1.8M for 99 Oaks, $2.7M for Patriots II
Estimated Cash on Cash Return: Oriole Crossing -10%, MHP’s 12%+
Estimated Internal Rate of Return: Oriole crossing 18%, MHP’s 23%

Warrior team
shout outs:

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

Having the warrior community to bounce ideas off of, partner with, and learn from has been a huge confidence builder and business growth opportunity. If it wasn’t for the warrior group and Rod, I would not be where I am today in this journey

How did you find this property?

Cold call direct to seller for all three properties

How did you structure the financing of this property?

Oriole Crossing Local loan
99Oaks, local bridge loan
Patriots Park II agency debt

Was this a joint venture or syndication?

Oriole crossing is a JV and the MHP’s are one syndication deal

How did you raise the equity?

Investor network that was developed over the last 3 years

What was the equity raise?

$350K for Oriole Crossing and $1.08M for MHP

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

Oriole crossing was a smooth closing
MHP’s had a few extra hurdles to jump through from the lender on the agency debt that pushed closing back 3 weeks. The RR dropped below 90% on paper the the week before closing and the seller had to scramble to get the leases resigned to show above 90%occupancy.

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

Make sure leases won’t expire before closing and if they do have a contingency to fix it.

* 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.