I have had a remodeling and construction company for the last ten years. Started buying single family homes and renovating them and doing the BRRRR model to keep and rent them. Thought Single family homes was all I could afford. After listening to Podcast and joining Rods coaching I realized it wasn’t the question of can I buy bigger units, but more How can I. get hard money, investors, etc. It has opened my eyes to bigger properties and now I am Buying small multi units with partners.
Address: 931 Broad Street, Emmaus PA 18049
Number of Units: 6
Value Add Deal? Yes
Purchase Price: $300,000
Estimated monthly increase projected? $790
Anticipated value after value add: $1.2 mil
Estimated Cash on Cash Return: Infinite. Did a cash out refi and got all our money back.
Estimated Internal Rate of Return: Infinite
Just Rods motivation from doing to online courses and calls.
Called and for rent sign and did an off market purchase.
Regular bank fund for purchase, then hard money and investors money for rehab. Bought for 300. Invested 550 and refi and got a new loan for 860k and it still cash flows 25k a year.
Friends, family, my partner and I
Thinking bigger then I ever had before. Commit first on buying it, then figure out a way to raise the money. Didn’t have all the answers up front. Just figured it out as we went.
Look for opportunities all around you. Don’t be afraid to ask people to sell, and you don’t need all the answers and figure out how you will do each part of the deal ahead of time, just commit and you will figure it out as you go.
* 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.