Address: Woodlawn Apartments – 3762 Up River Rd., Corpus Christi, TX 78408
Number of Units: 46
Value Add Deal? Yes
Purchase Price: $2,950,000
Estimated monthly increase projected? $25/unit
Anticipated value after value add: $3,800,000
Estimated Cash on Cash Return: 18%
Estimated Internal Rate of Return: 16.8%
10/10. We are actively chasing deals and getting more under contract as we speak. I will always be a huge advocate for the program! I have been working hard to get out of the W2 so I can attend more of the training sessions.
Used a regional bank as bridge debt, 75% LTC 4.25% with 1 year i/o, 5 year term.
Learned a ton working with inspectors and getting construction bids during DD. Great experience working with and forming relationships with lenders and legal professionals. Putting together a syndication. Raising money is harder than you think, but, the right deal, structured and presented property will sell itself. Managing time and stress, taking care of my mental health. Taking less on the first few deals to set yourself up to do more in the future. Partnering with and adding value to experienced operators/positioning yourself to become a long term partner with experience operators.
506(b) offering. Put on a webinar and invited friends and family. We were fully funded in less than 3 days.
A local PM I met at Rod’s Bootcamp in LA brought the deal to me.
* 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.