Retiring in a few weeks (on May 6th) from a 30 year, multiple 6 figure W2 career. I’ve been a Regional Director for a National Apparel Retailer overseeing $145,000,000 Revenue across 58 Store Locations, 9 States and up to 2,000 Employees. The past 4 years in Real Estate Investing have positioned me for the ability to retire the W2 via Growing Capital through small MultiFamily and Residential Flips that were then Invested into JV’s totaling 92 units across a 52 unit and 40 unit MultiFamily Properties. These 2 properties were closed back 2 back in August and September 2021. My Passions are Building Teams, Leading People and Asset Management.
Address: Lind Commons (52 unit) and Craycroft Commons (40 unit)
Number of Units: 92
Value Add Deal? Yes
Purchase Price: $6,615,000
Estimated monthly increase projected? $300/unit
Anticipated value after value add: 52 unit from $3,450,000 to $5,700,000 and 40 unit from $3,165,000 to $5,000,000
Estimated Cash on Cash Return: 52 unit after ReFi (in progress @ Month 9) 14+% and 40 unit 12+%
Estimated Internal Rate of Return: The 52 unit cash out ReFi @ Month 9 will return 80% of initial capital. The 40 unit targeting 100% Cash out ReFi @ Year 2 for 100% initial Capital and then hold for infinite return.
The Culture among the group is incredible with very positive people in both mindset and in heart. Relationships are everything in this Business.
Broker relationships for both. The 40 unit was a phone call on the right day at the right time which gave us first and only look at the property. We had accepted LOI within 48 hours of phone call.
52 unit @ Bridge Debt and 40 unit 7 year fixed.
Joint Venture on both.
Partners invested $1,300,000 on the 52 unit and $1,000,000 on the 40 unit.
The occupancy on the 52 unit dropped below 90% before closing and had to shift to Bridge Debt at last minute and was still able to close the loan within 2 days based upon the relationship with local bank.
Put 90% occupancy to be maintained by Seller through close of escrow into the Purchase Agreement.
* 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.