Address: 2234-2236 Hanser Drive, Covington, KY 41011
Number of Units: 12
Value Add Deal? Yes
Purchase Price: $528,000
Estimated monthly increase projected? 35-45% increase. Avg Rents in place – $566, our new average rents will be $775-800/unit.
Anticipated value after value add: $750,000
Estimated Cash on Cash Return: 14-18%
Estimated Internal Rate of Return: 20% plus
AMAZING! Love the culture and everyones’ willingness to be there and learn.
75% LTV traditional financing, 3.75 interest rate. Plan to refinance in 18 months
Warrior group after private investors backed out due to fear of eviction moratorium.
Having investors back out early on and having to get a big extension of 60 days on the contract. We did not have enough “pre-committed” capital to get it done on our own.
Talk to investors before you get under contract on a deal. Build relationships and teams early!
* 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.