Warrior Win

Steven Wright

I spent the last 7 years as the VP of a Construction Management & Architectural consulting firm, where I worked with developers, general contractors, engineers, and Architects to design & build projects all across the country. Many of the projects I worked on were multifamily apartment buildings, and so I began to develop an interest in commercial real estate because of that. My best friend and business partner, Eric Williams, was interested in it as well. We are both Realtors in Florida, and decided to go into business together after joining the Warrior program. My passions are mentoring, entrepreneurship, playing guitar, snowboarding, and creating lifetime cashflow through commercial real estate investing!

Property Details

Address: District 52 Apartments – 2465 Harvard Ave, San Angelo, TX 76904
Number of Units: 52
Value Add Deal? Yes
Purchase Price: $2,600,000
Estimated monthly increase projected? $200-500 based on unit type
Anticipated value after value add: $4,160,000
Estimated Cash on Cash Return: 8%
Estimated Internal Rate of Return: 16%

Warrior team
shout outs:

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

The Warrior program really fast-tracked us for success in this industry, and I can’t explain just how valuable it has been.

How did you find this property?

We were brought on as General Partners by other Warriors.

How did you structure the financing of this property?

Assumable 10 year Fannie Mae loan at 3.48%, with interest only payments until 2026.

Was this a joint venture or syndication?


How did you raise the equity?

Recorded a 25 minute video overview, and then sent it to everyone we knew beginning with friends and family, and then went to outside investors.

What was the equity raise?


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

The timeframe was pretty short, since we were brought on to raise funding for capital expenditures, and we had never raised capital before, so it required a very fast turnaround and creation of sales assets to potential investors.

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

The main lesson that we learned is that getting investors to pay takes more time than expected, and that people are certainly going to tell you that they’re investing and then either ghost you or pull out at the last second.

* 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.