Warrior Win
Phil Klima
We are one of the largest independent automobile dealers in terms of volume of sales in the state of Ohio. We started investing in small single family rental houses and when we got to about 70 shifted focus to apartment buildings. When I joined Rod’s program we had 120 units. Since than we have acquired 80 more units with 200 units under contract set to close by the end of this year. We are not syndicating and as such we own 100% of our doors.
Property Details
Address: 20 South linden- Mansfield Oh
Number of Units: 72
Value Add Deal? Yes
Purchase Price: $1,700,000
Estimated monthly increase projected? $10,000
Anticipated value after value add: $2,600,00
Estimated Cash on Cash Return: 15%
Estimated Internal Rate of Return: 17.5%
Warrior team
shout outs:
Any comments about your experience so far in the Warrior Program?
Very well done program
How did you find this property?
craigslist
How did you structure the financing of this property?
80% debt community bank/20% equity injection.
Was this a joint venture or syndication?
no
How did you raise the equity?
family and personal
What was the equity raise?
340k
What are some hurdles you had to overcome to get this deal done?
this one went smoothly overall.
What are some of the lessons you learned with this deal?
Always remember to get rid of any bad tenants quickly after taking over.
* 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.