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Address: Driftwood Apartments
Number of Units: 101
Value Add Deal? Yes
Purchase Price: $6,000,000
Estimated monthly increase projected? 3% yearly
Anticipated value after value add: $10,845,111
Estimated Cash on Cash Return: 10.6%
Estimated Internal Rate of Return: 16.9%
The Warrior program is great. We’ve had an amazing experience and are grateful for everything we have learned. We also learned to be cautious of who we associate with within the Warrior program and do business with. Be cautious of the deals that are presented, the person and their involvement on the deal.
MMG brought up the property to the key principles.
Financing is 6.3 % interest amortize for 25 years at 67% LTV. There is no bridge debt for this deal.
Syndication
Raising equity through syndication. Having several calls to reach potential investors and inform them of this particular deal. Reaching out to fund to fund partners as well.
$3,000,000
The biggest hurdle was raising capital. The deal is closed but there is still some equity captal still availble to raise. At this time, too many investors are holding back investing in MF deals.
Being prepared to raise capital. Initially, we were not ready to raise the capital as the KP mention they had investors wanting to inject between $2MM – $3MM onto this deal. When the potential investors did not inject their respective funds, we had to raise capital. Scrambling to reach potential investors was daunting as we were not prepared.
* 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.
If you hold interest in multifamily property investing, then we have numerous multi-family real estate investing courses for you under which we offer the best multifamily investing coaching. All you need to do is to enroll yourself in one or more programs and we will provide the best apartment investing coaching as we connect you with apartment investors network. So, what are you waiting for? Enroll today!
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242 S. Washington Blvd Suite 319
Sarasota, FL 34236
