Warrior Win

Yi Xu

Charles is the co-founder of Evergreen Capital. He started his real estate investment journey in 2011 from investing in residential rental properties in California and Georgia, and has expanded his investment portfolio to more than 600 units of multifamily assets. He is now dedicated to commercial real estate investment, focusing on investor education and relationship, asset management, and underwriting.
Charles came to the US in 2008 for his MBA in Emory University Goizueta Business School with full merit-based scholarship. Since graduation in 2010, he has been working for major high tech companies in silicon valley with leadership roles in product planning and operation. 

Property Details

Address: 2465 Harvard Ave, San Angelo, TX 76904
Number of Units: 52
Value Add Deal? Yes
Purchase Price: $2,650,000
Estimated monthly increase projected? $100/unit
Anticipated value after value add: $4-5M
Estimated Cash on Cash Return: 6-8%
Estimated Internal Rate of Return: 14-16%

Warrior team
shout outs:

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

Excellent network with like-minded people.

How did you find this property?

On market listing with a major brokerage house. Part of a multi-property package seller was liquidating.

How did you structure the financing of this property?

Assuming the existing loan from the seller at 3.48% fixed interested rate through 2030 at 75% LTV.

Was this a joint venture or syndication?


How did you raise the equity?

Friends, colleagues, general investors, and patterning with other warriors.

What was the equity raise?


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

First MF acquisition and steep learning curve, putting together a winning team, lengthy negotiations with broker and seller on pricing, finding a good PM who knows the market, finding out about 4 down units during DD.

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

Understand the reason behind a distressed property, and be confident on the ability to turnaround the property with detailed business plan and strong property management.

* 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.