After working as a Preschool Teacher, Girls Sports Coordinator, Dispatcher and working in county jails, I served as an Army wife. Relocating back to my family area after his service was complete, I began in Property Management for my families portfolio and ultimately joined a boutique Property Management company where we grew from 74 doors to over 250. After gaining partnership we continued to evolve as a company and ultimately sold. I am passionate about helping people find their new home especially in under served areas. I pride my experience in redefining marketability in D-Class areas while working the caveats of support service programs to ultimately bridge the gap between ownership and residents who traditionally have a hard time finding a safe place for their family.
Address: Magnolia Gardens / La Brook Apartments – Richmond VA
Number of Units: 82
Value Add Deal? Yes
Purchase Price: $2,400,000
Estimated monthly increase projected? $80/unit
Anticipated value after value add: $3,400,000
Estimated Cash on Cash Return: 20%
I don’t drink the kool-aid….This program has been the fire under my logical ass that has helped me see just how valid my experience is, I am still overcoming Imposter Syndrome and this program was the first major ah-hah just how much I can bring to the table! The wonderful people I have met in this program have become life long friends, Rod truly attracts the best of humans.
A fellow Warrior who I met at bootcamps learned of my experience and asked if I could fulfill the experience piece for the bank qualifications.
80 LTV, Rehab loan included for $500,000 for CapEx.
The partner that brought me in also did the raise.
D-Class experience longer turn times, higher expense ratios for standard upkeep and the business plan required that we utilize OpEx for some CapEx and OpEx while converting the economic vacancy, leaving me to negotiate some interesting promise to pays and waterfall our turnovers. Our PM team is amazing, I also know that us brining in our own Contractors would under cut their auxiliary income which they highly consider when determining profitability in the PMA negotiation, for this we set a fixed minimum monthly along side the management fee percent of rents collected based off of the actual rents collected instead of the projected rents collected offering a net reduction of our PM fees on a percentage basis as we increased rents.
Overcoming conflict inside partnerships can be like a toxic relationship if not fully exposed and communicated in respect. Realistic expectation setting needs to be done in writing even when its just internal to your teams. Another thing I learned is that my lessons from CA were so much more valuable that expected, just as we entered our second round of UD’s the county was pushing through legislation to imposed area sponsored payment arrangements to forgo evictions if possible. I saw this as a win, we’ve been negotiating stipulation agreements for years in CA.
* 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.