Warrior Win
Rodrigo Valdez Jr.
Rod Valdez brings 20+ years of experience in engineering and commercial sales into real estate investing and is involved as a partner in 200+ doors. With his ability to be technical, yet personable, his versatility brings value thru deal sourcing, capital raising, underwriting and investor relations. Rod is known for his consistency, dedication and integrity in what he puts his hand to. Rod graduated from the University of Illinois and currently lives in southern California. Blessed with his wife and four children, he enjoys Crossfit, golfing and traveling with his family.
Property Details
Address: Broadway Palms
Number of Units: 12
Value Add Deal? Yes
Purchase Price: $1,278,500
Estimated monthly increase projected? $400
Anticipated value after value add: Stabilized Appraisal has already come in at $2,150,000
Estimated Cash on Cash Return: 7.44%
Estimated Internal Rate of Return: 34.2%
Warrior team
shout outs:
Any comments about your experience so far in the Warrior Program?
The community is amazing and the teamwork is top notch. The program really allows you to go from zero multifamily knowledge to being able to close a deal and scaling quickly.
How did you find this property?
Off market via broker.
How did you structure the financing of this property?
12 month bridge loan at 80% LTV at 8.79% interest (lastminute financing change) with refi Y2 to traditional 30 yr term at 75% LTV at 6.0% interest. CapEx is a draw.
Was this a joint venture or syndication?
Syndication
How did you raise the equity?
Friends and family.
What was the equity raise?
$450,000
What are some hurdles you had to overcome to get this deal done?
With rates changing, our initial lender couldn’t meet his quote and went dark, unable to reach him and he didn’t return calls/emails. With no initial extension built in, we were able to extend our closing date and scrambled to get a new lender on board with inspections, appraisals, etc. completed before the new closing date. Our bridge loan rate wasn’t ideal but we were able to get it done and have enough equity in the deal to overcome the initial rate.
What are some of the lessons you learned with this deal?
Always have an extension built in because things happen. Stick to the lender relationships you’ve built because they’ll go the extra mile to maintain the relationship. The appreciation in the Phoenix market is ridiculous!
* 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.