We have been in real estate investors for over 20 years. Fix and flip, rental, wholesaling. Small multifamily 2-3 units. This is a lot of hard work. We were looking to get into something more passive. Our passion are take care of our family, enjoying our children and traveling!
Address: 2141-2235 Harrison Street, Titusville, FL 32780
Number of Units: 48
Value Add Deal? Yes
Purchase Price: $8.5M
Estimated monthly increase projected? Bump rents up to a $400 increase
Anticipated value after value add: $11M.
Estimated Cash on Cash Return: Initially it was 18%, now looking closer to above 20%.
Estimated Internal Rate of Return: Current rate of return is low since no distribution has been completed, nor have we recouped our cash injection. We are currently working on the refinance of the property which will help determine a more accurate gauge.
So far this group has been wonderful. I can’t wait to see what this year brings. We are ready and pumped up. Goal this year 250 units. We’re looking at tons of deal to see what makes since anywhere and getting out LOI’s on the good ones. We’re always looking for other Warriors to partner with to get these deals closed. After we saw the power of the group and we were not even members yet, we immediately signed up to be part of this great group of people. Lastly, we want to be able to add value as well.
From being a wholesaler.
Because we had to move very quickly to close this deal we raise all of the money. We are currently working on refinancing the property.
Thru my partners network.
We had to close very quickly. I present this deal to Doris at lunch at the boot camp on the 7th of December and we closed by the 23rd of December right before the holidays.
That this network is very powerful if you have your stuff together and ready to go. Also, speed of implementation is a very valuable skill.
* 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.