Warrior Win
Francesco Orselli
Property Details
Address: Garden Villas – 8731 N 30th St Tampa, FL 33604
Number of Units: 40
Value Add Deal? Yes
Purchase Price: $6,854,999
Estimated monthly increase projected? $300/unit
Anticipated value after value add: $10,700,000
Estimated Cash on Cash Return: 12%
Estimated Internal Rate of Return: 18%
Warrior team
shout outs:
Any comments about your experience so far in the Warrior Program?
I enjoy the program and get the most value by the relationships I have been able to form with some of the its members
How did you find this property?
Relation with broker.
How did you structure the financing of this property?
48% agency loan, 52% equity
Was this a joint venture or syndication?
Syndication
How did you raise the equity?
Through a 506(b) offering
What was the equity raise?
$5,000,000
What are some hurdles you had to overcome to get this deal done?
Raise all the required capital to close, secure loan approval from lender, renegotiate the purchase price in light of increasing 10-yr treasury rate.
What are some of the lessons you learned with this deal?
Define GP roles and responsibilities earlier in the process, form operating agreements and secure qualified property manager earlier in the process to minimize last minute requests from lender.
* 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.