Warrior Win
Tim
Fergestad
Property Details
Address: Sohana Apartments
Number of Units: 124
Value Add Deal? Yes
Purchase Price: $14 Mil
Estimated monthly increase projected? $80/unit
Anticipated value after value add: $18 mil
Estimated Cash on Cash Return: 10%
Estimated Internal Rate of Return: 18%
Warrior team
shout outs:
Any comments about your experience so far in the Warrior Program?
The program is full of great people with growth and abundance mindsets. Rod has done an incredible job attracting quality people with his solid educational & motivational model as well as his genuine desire to help people achieve success.
How did you find this property?
How did you structure the financing of this property?
Bridge
Was this a joint venture or syndication?
Syndication
How did you raise the equity?
Friends, but mostly PM (half!) and other GPs (MGW Ventures & Arrows Capital Group).
What was the equity raise?
$4 mil
What are some hurdles you had to overcome to get this deal done?
Initial bridge lender backed out 1 week before close. Had to extend sale and quickly find new a lender.
What are some of the lessons you learned with this deal?
Have trusted team members (Mortgage brokers too!) and Lenders, your largest partner, hold all the cards.
* 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.