Warrior Win

Eric Upchurch

Eric Upchurch is an Army Special Operations veteran who grew up in Central Iowa before attending college in California. He has a passion for educating the military community on how to create long term wealth through real estate investing, while personally investing across the country for the last fourteen years. 

Eric serves as Co-Founder of Active Duty Passive Income (ADPI) and is a Senior Managing Partner with ADPI Capital. Most recently, Eric’s team has opened a nationwide, first-of-itskind 100% employee-owned mortgage branch, real estate brokerage, as well as an insurance company – all with the goal of serving the ADPI community of military real estate investors.

Property Details

Address: Alexandria, Indiana. Country Club Estates
Number of Units: 80
Value Add Deal? Yes
Purchase Price: $3,250,000
Estimated monthly increase projected? Avg of $90/unit
Anticipated value after value add: $5 mil
Estimated Cash on Cash Return: 10%
Estimated Internal Rate of Return: 15%

Warrior team
shout outs:

Which Warriors helped you with this deal, and how?

Well, Rod and Robert helped us by encouraging us to keep moving forward with the capital raise. Got on calls with Gozlan, Gupta also.

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

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

How did you find this property?

Broker Relationship Major improvements planned or completed: Increased rents, RUBS initiating soon, reduced contract costs, increased garage rents, etc.

How did you structure the financing of this property?

80 LTV, Freddie mac SBL, 506c syndication

Was this a joint venture or syndication?

Syndication

How did you raise the equity?

Private investors

What was the equity raise?

1.25 mil

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

Capital raise was more difficult than we had anticipated. could have kept as a 506b…but we advertised “Under Contract” one time so we thought we should be safe with 506c. Also, the owner was in Japan so comms was difficult. PM company just acquired/merged with another company so there were major growing pains RIGHT as we were starting to manage the asset.

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

Always be raising capital. Create thorough SOPs for PM, but also internally with our team.

* 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.