Warrior Win

Sean Cullen

Sean is a Lieutenant Colonel in the United States Air Force and brings 20 years of leadership and management experience to his role as RIZE’s Head of Operations. In that role, he relishes the opportunity to build and manage the systems and teams needed to advance RIZE’s objectives. He is deeply committed to completing tasks with a high degree of quality, attention to detail, and communication.
As an Air Force officer, Sean has excelled in numerous leadership positions, culminating in his current role as a Squadron Commander. In addition to his military service, he has actively invested in real estate since 2005.
Sean is passionate about guiding others in their journey towards financial freedom and is dedicated to helping them create multi-generational wealth. However, his greatest passion is his family. Sean is a proud husband and father to 3 children.

Property Details

Address: Tribble Gap Apartments: 1004 Tribble Gap Road, Cumming, Ga
Number of Units: 20
Value Add Deal? Yes
Purchase Price: $13,00,000
Estimated monthly increase projected? $450
Anticipated value after value add: $25 mil
Estimated Cash on Cash Return: 10%
Estimated Internal Rate of Return: 17%

Warrior team
shout outs:

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

The relationships made during the program are worth 10x the amount of money paid. The Warriors that are selected are the right caliber of person act as force multipliers for your goals in multifamily investing!

How did you find this property?

Direct to seller campaign, built rapport, and found ways that we could help each other.

How did you structure the financing of this property?

 
Bridge debt, IO for three years with two 1 year options
 

Was this a joint venture or syndication?

Syndication

How did you raise the equity?

Webinar, website, social media, friends and family

What was the equity raise?

$55,000

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

Finding contractors and insurance quotes that were within a range that we felt comfortable. With the cost impact of COVID on materials, the cost of renovations seems to be increasing, which can affect your underwriting, your bottom line. Insurance was though because the lender was hung up on a clause that was increasing the cost of insurance about twofold. For the construction, we had to shop around and leverage relationships to find the right company at a reasonable price. For the insurance, we had to get everyone on the phone together (lender, insurance, and ourselves) to figure this issue out and come to a resolution.

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

Nothing good comes quickly or as planned. You have to adapt to the situation. For example, we offer 1.3M but after due diligence, we noticed there was about double the CAPEX expected. After explaining that to the owner and showing him the cost of repair, he agreed to provide a seller credit of $149K. This helped the deal go from a single or double to a homerun!

* 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.