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Warrior Win

Eric Upchurch | 80 Units Closed

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Eric Upchurch:

From Army Special Operations to Multifamily Investor

Eric Upchurch is a former Army Special Operations veteran who transitioned from military service to building financial freedom through multifamily real estate investing. Originally from Central Iowa, he attended college in California before launching his real estate career.

As a Warrior Coaching student under Rod Khleif, Eric leveraged mentorship, strategic networking, and expert guidance to scale his portfolio and create passive income. Now, he is committed to helping others achieve financial independence through real estate investing, capital raising, and syndication strategies.

 

Learn more about Warrior Coaching → 

Country Club Estates:
80 Unit Value Add Deal

Location: Alexandria, Indiana

Number of Units: 80

Value Add Deal: Yes

Purchase Price: $3,250,000

Projected Monthly Rent Increase: $90 per unit

Anticipated Value After Value Add: $5,000,000

Estimated Cash-on-Cash Return: 10%

Estimated Internal Rate of Return (IRR): 15%

How This Deal Came Together

Deal Source

Broker Relationship: The property was sourced through strong networking and a broker relationship.

Equity Raise

Total Equity Raised: $1.25 million

How It Was Raised: Private investors.

Financing Structure

Loan-to-Value (LTV): 80%

Lender: Freddie Mac SBL

Syndication Type: 506 (c)

Value-Add Strategies​

Rent Increases: Rents were adjusted upward across the property.

Ratio Utility Billing System (RUBS) Implementation: This strategy was initiated to pass utility costs onto tenants and improve NOI.

Contract Cost Reduction : The team successfully lowered expenses by renegotiating vendor contracts.

Garage Rent Optimization:  Increased garage rental fees to generate additional revenue.

Challenges Faced

Capital Raise Complexity: Could have remained a 506(b) but made the shift to 506(c) after publicly stating the deal was under contract.

Seller Communication Barriers: The seller was based in Japan, which made communication and negotiations more complex.

Property Management Transition Issues: Just as the team took over, the property management company merged with another firm, causing operational disruptions.

Warrior Program Support

Rod and his team provided key guidance and support during the capital raise process, encouraging Eric to push forward when funding proved more difficult than expected. Fellow Warrior members like Gozlan and Gupta also offered insights and expertise to help navigate challenges along the way.

Lessons Learned & Key Takeaways

Always Be Raising Capital: Relationships and investor engagement should begin long before a deal is secured.

Establish Clear Standard Operating Procedures (SOPs): Both internally and for property management to ensure smooth execution.

Stay Flexible and Solution Oriented: Adapting to challenges in financing, investor relations, and operations is critical.

Involvement in the Warrior ecosystem has been a life changing path. Creating life long friendships, partnerships, and more.

Eric Upchurch

How This Deal Came Together

Deal Source

Broker Relationship: The property was sourced through strong networking and a broker relationship.

Equity Raise

Total Equity Raised: $1.25 million

How It Was Raised: Private investors.

Financing Structure

Loan-to-Value (LTV): 80%

Lender: Freddie Mac SBL

Syndication Type: 506 (c)

Challenges Faced

Capital Raise Complexity: Could have remained a 506(b) but made the shift to 506(c) after publicly stating the deal was under contract.

Seller Communication Barriers: The seller was based in Japan, which made communication and negotiations more complex.

Property Management Transition Issues: Just as the team took over, the property management company merged with another firm, causing operational disruptions.

Sectio 4 Image

Value-Add Strategies

Rent Increases: Rents were adjusted upward across the property.

Ratio Utility Billing System (RUBS) Implementation: This strategy was initiated to pass utility costs onto tenants and improve NOI.

Contract Cost Reduction : The team successfully lowered expenses by renegotiating vendor contracts.

Garage Rent Optimization:  Increased garage rental fees to generate additional revenue.

Lessons Learned & Key Takeaways

Always Be Raising Capital: Relationships and investor engagement should begin long before a deal is secured.

Establish Clear Standard Operating Procedures (SOPs): Both internally and for property management to ensure smooth execution.

Stay Flexible and Solution Oriented: Adapting to challenges in financing, investor relations, and operations is critical.

"Involvement in the Warrior ecosystem has been a life changing path. Creating life long friendships, partnerships, and more."

Eric Upchurch
Sectio 4 Image

Be the Next Warrior Success Story

Eric’s journey shows what’s possible when you combine the right mentorship, network, and action. If you’re looking for a proven roadmap and expert guidance to start, scale, and succeed in multifamily investing, Warrior Coaching can help.

Let’s Get Started

If you hold interest in multifamily property investing, then we have numerous multi-family real estate investing courses for you under which we offer the best multifamily investing coaching. All you need to do is to enroll yourself in one or more programs and we will provide the best apartment investing coaching as we connect you with apartment investors network. So, what are you waiting for? Enroll today!

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