Warrior Win

Ian Schmidt

Listing Agent for a Berkshire Hathaway owned (Mungo Homes) new home residential builder. In 2022 I oversaw the construction, financing and sale of 64 new homes. I have invested in single family and 1 duplex prior to joining Warrior Group. I serve on the board of Carolina One New Homes Advisory Connector Council, an organization that serves the homeless in the city of Charleston SC. Spent 10+ years working in hospitality so I could travel.

Property Details

Address: 930 East Estates Blvd, Charleston SC 29414 – Shaftwoods
Number of Units: 40
Value Add Deal? Yes
Purchase Price: $6,050,000
Estimated monthly increase projected? $700/unit
Anticipated value after value add: $8M+
Estimated Cash on Cash Return: 6-8%
Estimated Internal Rate of Return: 16-18%


Warrior team
shout outs:

Any comments about your experience so far in the Warrior Program?

Truly one of the very best and life altering decisions I have ever made was joining the Warrior Program. It’s been enlightening in so many areas of life, not just real estate.

How did you find this property?

From my Co-GP’s and Warriors, Sam and Jon Wells, and David Iglewicz.

How did you structure the financing of this property?

6.5% fixed rate ammortized over 30 yrs, zero interest for 24 months.

Was this a joint venture or syndication?

Syndication – 506 B.

How did you raise the equity?

Reaching out to my circle of friends, family and co-workers. Lots of in person, breakfasts, lunches, dinners and coffees.

What was the equity raise?

$3.2 M

What are some hurdles you had to overcome to get this deal done?

Had a hard time getting my most affluent investors to commit at the end, took some time to fine tune my presentation of the asset.

What are some of the lessons you learned with this deal?

Anticipate a 30% investor closing rate and not 50% on soft commitments, for example, next deal, for a $1M raise, I will seek $3M in soft commitments. Other lessons would be to keep investors updated on this type of investment BEFORE going under contract. Also, keep investor presentations very simple for those unfamiliar with this type of investment.

* 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.