Warrior Wins – David Turner

Warrior Win

David Turner

Full time W2 in IT Sales & Consulting

Began real estate career in 2019 flipping houses with my wife.

After a few successful projects, we decided to focus on long-term wealth building through multifamily investments. We joined the Warrior group in April 2021 and closed on our first deal in March 2022.

Property Details

Address: Kabana Cove. Jacksonville, FL. Value Add Deal? Yes
Purchase Price: $8,600,000
Estimated monthly increase projected? $200-$250
Anticipated value after value add: $11,590,475
Estimated Cash on Cash Return: 7%
Estimated Internal Rate of Return: 13.13%

Warrior team
shout outs:

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

I love being part of a group of like-minded entrepreneurs willing to push through their comfort zone and heal each other build their businesses.

How did you find this property?

Kabana Cove was an off-market deal brought to our team.

How did you structure the financing of this property?

$7m Loan

3+1+1

36 month IO

73% LTV

Was this a joint venture or syndication?

Syndication

How did you raise the equity?

As a team, we raised equity from 47 limited partners.

What was the equity raise?

$3,384,235.

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

Personally, I had some investors hesitant to commit and decided not to participate.

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

Build a network of equity partners prior to having a deal that needs to be funded. Verbal commitments & interested LP don’t necessarily translate to raised capital. Building a large funnel will help when initial commitments fall through.

Also, tell everyone what you’re doing!

* 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.