Warrior Win
Rob Nickester
Property Details
Address: 7740 McCallum Communites
Number of Units: 419
Value Add Deal? Yes
Purchase Price: $54,000,000
Estimated monthly increase projected? about $125/unit
Anticipated value after value add: close to $70,000,000
Estimated Cash on Cash Return: 5.6% – 6.4%
Estimated Internal Rate of Return: 21.5% – 23.9%
Warrior team
shout outs:
Any comments about your experience so far in the Warrior Program?
For me, the network of amazing people has been instrumental in getting started in MF.
How did you find this property?
Through a broker who reached out to my partner.
How did you structure the financing of this property?
We negotiated a loan assumption with the seller, used some private equity, and the rest capital we raised.
Was this a joint venture or syndication?
Syndication
How did you raise the equity?
We raised equity through the personal networks of all the partners.
What was the equity raise?
$20 Million PE, JV/LP 8.6 M and GP Equity $1.5 M
What are some hurdles you had to overcome to get this deal done?
Working with individuals to get PE and trying to raise capital during a time of inflation has been pretty challenging.
What are some of the lessons you learned with this deal?
Have a more robust and active investor list, especially for any deals in Q4 of a given year.
* 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.