Petroleum Engineer turned Multifamily Real Estate Wealth Creator! Michael began investing in Real Estate in 1999 with a SFH Rental, acquired a Multi-Family Property in 2008, and Storage facilities in 2021.
Longtime project manager with a successful Travel Agency and Water Stations Business. Mike’s goal is to create happy places to live and deliver top value to his Investors.
He is an active member in multiple REI organizations i.e. Brad Sumrock, Grant Cardone, Rod Khleif, & Michael Blank and keeps himself up to date on what’s happening in the CRE world.
Address: 2006 Sul Ross
Number of Units: 16
Value Add Deal? No
Purchase Price: $1,675,000
Estimated monthly increase projected? $200 already in 3 months
Anticipated value after value add: $2,400,000
Estimated Cash on Cash Return: 8%
Estimated Internal Rate of Return: 17%
I learned much of the Mechanics about the deals that I had no clue of before on DD, Debt, Terms, UW, etc… Team, team, team.
On a broker site.
We have bridge debt 3 years fixed.
Friends & Family.
We had to go through a second phase environmental and we were out of extension by the time it finished.
Sprint early in the process this was the first of 4 I have closed this year with Jon Sidoti Jon and I have 4 deals together with 100 Units and $9M AUM.
* 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.