Address: 3515 Apartments
Number of Units: 45
Value Add Deal? Yes
Purchase Price: $2,368,000
Estimated monthly increase projected? $50/unit
Anticipated value after value add: $3,850,000
Estimated Cash on Cash Return: 10.8%
Estimated Internal Rate of Return: 16.3%
The Warrior Program has changed my life for the better in a number of ways. It has helped me shift my mentality tremendously which has had a positive impact in all areas of my life. I have learned an incredible amount about this exciting industry, met people who I believe I will have significant relationships with for a long time, and moved myself and my capital into a position to growth exponentially greater than before I joined.
Another member of our team (fellow Warrior – Loren Jacobs) was in a different Mastermind call where our future partner presented the deal and mentioned he was looking for help with the underwriting, asset management, and capital raising in order to get it to the closing table.
Initially we were going for an agency loan, but after going through the entire process it was rejected due to the size of the purchase, the area not being in a major MSA, and the fact that none of the principles would be living in the state. We ended up getting solid terms with a local bank.
Other than the debt issues mentioned above, it also took a while to close. We pretty much lost contact with the seller for a bit toward the end which was making it difficult to set an actual closing date.
The team you are working with is crucial to success. I would not have been part of a deal like this had it not been for the Warrior group itself and the specific people I have met and am now partnering with on deals like this.
* 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.