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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: 18%
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!
Direct to seller campaign, built rapport, and found ways that we could help each other.
Syndication
Webinar, website, social media, friends and family
$550,000
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.
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.
If you hold interest in multifamily property investing, then we have numerous multi-family real estate investing courses for you under which we offer the best multifamily investing coaching. All you need to do is to enroll yourself in one or more programs and we will provide the best apartment investing coaching as we connect you with apartment investors network. So, what are you waiting for? Enroll today!
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As one of America’s top real estate professionals Rod mentors business leaders and entrepreneurs through world-class speaking events, books, and training courses online and around the world.
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242 S. Washington Blvd Suite 319
Sarasota, FL 34236
