Warrior Win

Parag Dave

3 years as a warrior! When I was a little kid I would collect rent with my parents at a 12 plex in Addison Illinois. I have a flooring company so we work with many landlords and operators. I love spending time with my family! I have 2 year old twin boys and want to make sure they are financially literate. I have a passion for my sports teams and riding my bike. My goal for next year is to complete a triathlon!



Property Details

Address: Stoney Creek Highlands
Number of Units: 278
Value Add Deal? NO
Purchase Price: $46.7M
Estimated monthly increase projected? Year 1 7.5% (we hit our year one goal prior to closing because the previous owner renewed leases with a $170 average bump on 58% of the units!!)
Anticipated value after value add: $72m
Estimated Cash on Cash Return: 6-8%
Estimated Internal Rate of Return: 16-17%

Warrior team
shout outs:

Any comments about your experience so far in the Warrior Program?

It has been great. I have been a quieter warrior overall but have been soaking in tidbits from all of the Thursday calls and have started to network more as my kids have required less attention. I plan to keep making moves and learning from the group. Thank you for putting this group together!

How did you find this property?

Networkinging! We had a relationship with a few people on our lead sponsor team. Through a handful of conversations this deal ended up being a great property to add to our portfolio.

How did you structure the financing of this property?

Freddie with 7 years I/o and fixed debt at 5.85%

Was this a joint venture or syndication?


How did you raise the equity?

Family friends and linkdin connections.

What was the equity raise?


What are some hurdles you had to overcome to get this deal done?

Raising equity with the current economic state did have some push back and being in a smaller market people were not too eager to invest. But with the numbers to back up our business plan and staying in front of our investors we were able to complete the raise.

What are some of the lessons you learned with this deal?

Stay in front of all investors at all times especially during a raise.

* 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.