Address: Apartment Villages 2900 Ravenswood Dr, Evansville, IN 47714
Number of Units: 56
Value Add Deal? Yes
Purchase Price: $3,975,000
Estimated monthly increase projected? $250+/unit
Anticipated value after value add: $5,950,000
Estimated Cash on Cash Return: 6%
Estimated Internal Rate of Return: 18%
Property was brought to me by another investor which I found through my networking. They failed to close. So I was being pulled in to help out.
We had local bank fund property. 7% Interests only for 24 month’s 25 yr term.
506b So prior networking contacts and friends.
Lock in Rates and also keep your eyes open for mortgage documents.
* 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.