Address: Esplanade Apartment Homes
Number of Units: 186
Value Add Deal? Yes
Purchase Price: $41,000,000
Estimated monthly increase projected? $500+
Anticipated value after value add: $69mm
Estimated Cash on Cash Return: 7-8%
Estimated Internal Rate of Return: 16-18%
If you want to go fast, go alone. If you want to go far, go together. You need a network to get any traction in RE so joining a great group like the Warriors is essential.
Through broker relationships. It also turns out I had a relationship with the seller as he has been a guest on my podcast.
LP investors, TIC structures.
Crazy interest rate environment during close, so working with the lender to get the deal finalized was key.
Good partnerships will move you farther than figuring everything out yourself. Who not how, as they say.
* 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.