George and I are both employees. George works as a manager in a major power plant in NYC and I am a bilingual speech-language pathologist in the school system. We own a rental property and our SFH, both in NYC. We are currently passionate about achieving financial freedom so that we can leave our W2s and enjoy more family time.
Address: 12955 Larchmere Boulevard, Shaker Heights OH 44120
Number of Units: 31
Value Add Deal? Yes
Purchase Price: $1,400,000
Estimated monthly increase projected? $400/unit
Anticipated value after value add: $3,000,000
Estimated Cash on Cash Return: 7.5%
Estimated Internal Rate of Return: 12-14%
We have always wanted to get involved in real estate. Purchasing outside of NYC just didn’t seem possible. Attaining an apartment seemed even less likely. Joining the warrior program has definitely allowed us to dream bigger and opened our eyes to all of the possibilities. We have met some awesome people in this program and even partnered with them to help us get started!
Our coach, Jason Pero, helped us to acquire this property with him and a few others.
Bridge Loan for 3 years.
Friends and Family 506B
For this deal, we definitely had to learn how to come out of our comfort zone in order to raise the capital. This was one of the biggest hurdles for my husband and I, as we am slowly learning about syndications. The other issue we ran into was the addition of the SFH, which is part of the 31 units. We had trouble getting access to the home because of a trouble tenant who was living there and not paying rent. Thankfully, we were able to finally gain access and evict the tenant.
We have learned so much. The most important for us has been getting more comfortable talking to potential investors. It’s quite scary when you talk to potential investors who have knowledge about syndications and/or investing in real estate. Doing so, has taught us so much, as we have had to do research to search for answers that experienced investors have asked us.
* 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.