Warrior Win
Drew Doran
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.
Property Details
Address: Park 3099
Number of Units: 174
Value Add Deal? Yes
Purchase Price: $13,150,000
Estimated monthly increase projected? $125
Anticipated value after value add: $17,500,000
Estimated Cash on Cash Return: 11%
Estimated Internal Rate of Return: 17%
Warrior team
shout outs:
Which Warriors helped you with this deal, and how?
Any comments about your experience so far in the Warrior Program?
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!
How did you find this property?
We sourced this deal through a broker realtionship
How did you structure the financing of this property?
We purchsed the property with bridge debt
How did you raise the equity?
We raised the equity through the network of our team.
What was the equity raise?
$6,200,000
What are some hurdles you had to overcome to get this deal done?
This deal was pretty straight forward. We have a great team who collectively made this a very smooth transaction.
What are some of the lessons you learned with this deal?
A learning lesson for me was the significance of the property management company and onsite staff. We have had to work intimately with the property management company to source the right people (boots on the ground) who share the same vision and core values that we do to manage the day to day operations.
Was this a joint venture or syndication?
Syndication
* 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.