Eric Upchurch is an Army Special Operations veteran who grew up in Central Iowa before attending college in California.
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%
Involvement in the Warrior ecosystem has been a life-changing path. Creating life-long friendships, partnerships and more.
Broker Relationship Major improvements planned or completed: Increased rents, RUBS initiating soon, reduced contract costs, increased garage rents, etc.
80 LTV, Freddie mac SBL, 506c syndication
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.
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.