Drew Doran is a resident of Silicon Valley, California. Drew has represented over $100M in luxury real estate sales in California since 2010. Drew has been investing in value-add multifamily apartment buildings since 2018. Drew is a general partner in 3 apartment buildings (204 units valued at $ 15,600,000) and is a limited partner in (101 units valued at $14,500,000) in Ohio and Kentucky. Currently Drew and his team have 3 properties (505 units) under contract which are set to close within the next 2 months.
Address: Lakeshore Pl
Number of Units: 12
Value Add Deal? Yes
Purchase Price: $530,000
Estimated monthly increase projected? $150
Anticipated value after value add: $725,000
Estimated Cash on Cash Return: 14.1%
Estimated Internal Rate of Return: 36%
The Warrior Program has been life changing. I don’t say this lightly, it has absolutely changed my life personally and professionally. Prior to joining the Warrior program, I had always wanted to invest in real estate but didn’t have the blueprint to make it happen. The information provided in the program, the support from the coaches, and the incredible ecosystem of warriors has been paramount in helping me not only purchase my first multifamily property but keep me focused on growing my portfolio to 4 properties and 305+ doors in just 18 months. From a heart full of gratitude, I would just like to say – Thank you!
I sourced this property through a broker relationship
We worked with a local bank to secure financing for this property – its a recourse loan at 75% LTV
This asset has performed very well for us. I am grateful for the guidence from Rod, Robert, and the coaches to help us buy this asset right foresee potential red flags
One of the lessons that I learned with this deal is the significance of economies of scale. I am thrilled to have purchased this property because it has performed well for us, and as this is my first acquisition, it holds a special place in my heart. That being said, I have discovered the power of economies of scale and the significance of having the property produce enough revenue to support a full-time on-site staff.
* 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.