General Partnerships & Apartment Buildings with Eric Upchurch

General Partnerships & Apartment Buildings with Eric Upchurch
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Table of Contents - General Partnerships & Apartment Buildings with Eric Upchurch

Podcast Transcription

George El Masri [00:00:00] Everyone, and welcome to another episode of the Well Off podcast. Thank you for joining, as always. I interviewed a pretty awesome guest today. His name is Eric Upchurch. And Eric is a former military vet who actually started he became interested in investing in real estate at a at a fairly young age. And he educated himself on the general partnership structure, general partnerships and limited partnerships. So throughout his education, he actually was able to acquire or become a general partner on five hundred seventy six stores, become a limited partner on five hundred seventy five doors, and he's involved in over sixty two million dollars in multifamily assets. And he invests in 80 plus unit apartment buildings for the most part. So we had a chance to cover a lot of ground on this episode. I hope you'll enjoy. And you just wanted to remind you that if you are interested in investing in real estate, I would love to connect with you. You can go to my website well off Nazia and book a call so we can chat about your journey and I can figure out how I can help you get to the next level. I mostly focus on small multis myself, four to six units in the Golden Horseshoe area. So if that's something you're interested in, go ahead and reach out to me. And also if you'd like to download some free reports on real estate investing, I have a couple of different ones that you can download for free. Just go to well-off Dossie Forward Slash report and get yourself a free copy. Enjoy the episode. Welcome to the Life podcast, where the goal is to motivate, inspire and share success principles. I am here today with Eric Upchurch and Eric is a former, from what I understand, you part of the military at some point. And he has a passion for educating the military community on how to create long term wealth through real estate investing. We're going to dove into his story quite a bit here in just a moment, I should say. But, Eric, welcome to the show. What I like to do is start off by asking you a little bit about where you grew up. I know you sent me some information on that, but where you grew up in a couple of things you remember from your childhood.

Eric Upchurch [00:02:07] Yeah, sure. Thanks for having me. I'm really glad to be here and to share anything that I can. And hopefully it will inspire somebody to take action. So I grew up in in Iowa, in the Midwest, in the U.S., most of your audience is is Canadian or just global world wide, whatever. But south of Winnipeg, about 10 hours probably,

George El Masri [00:02:30] or most of our most of our audience is Canadian somewhere

Eric Upchurch [00:02:34] in that ballpark. So so, yeah, I grew up there thankful to grow up and in a humble spot and moved moved west after high school to California, had an opportunity there. I went to college, then enlisted in the military and in the army. And after that I went back to the Bay Area and San Francisco Bay Area and started investing there.

George El Masri [00:03:01] Cool. Yeah, that's that's cool. So this is the first time we meet just to give the audience a bit of a background here. So that's why I'm kind of learning a little bit about you as we go. But I did read a little bit about your story, and it's pretty impressive. Like some of the numbers I'm seeing. You're a general partner on five hundred seventy six dollars limited partner of five seventy five doors, and then you are involved in over sixty two million dollars in multifamily assets. So that's a pretty cool, cool thing to start with. Nothing pretty much like no real estate investments and to grow your portfolio to over 62 mil.

Eric Upchurch [00:03:36] That's all in less than three years. And, you know, I think one thing that I should explain is that it's possible for anyone to do it if if I did just a series of steps that are relatively well-defined, actually, and I'd love to go over that towards the end of the show when you ask certain questions and stuff, but live by that success formula. And it's tried and true, not unique to me necessarily. There's some nuances in there, but otherwise anyone can go out there and do it. If I can, anyone can.

George El Masri [00:04:08] Yeah. How do you go from being involved with the military to becoming a real estate investor? And also, are you like a full time real estate investor or do you do anything else?

Eric Upchurch [00:04:18] No. I mean, so I've got I have a wife of 15 years. I have two sons. I have a full time regular job also in sales that I've had for ten years. And and on top of that, we buy apartments and we run a company called Active Duty Passive Income, which is teaching military veterans that you don't have to retire in the traditional 20 year stint in the military. You can there are alternative ways and passive income. Finding multiple sources of passive income is one way to do it. So in kind of helping veterans discover that transition in a way that's effective for them. So because it is difficult sometimes to transition from service to the civilian sector for many reasons.

George El Masri [00:05:04] Oh yeah, for sure. OK, yeah. So can we dove in a little bit on your, your portfolio here. So General partner, so you're not is this something that you're actually kind of heading or sorry. Like is this just yourself you've got to kind of help type of model or are you partnered with other people and there you're kind of following along with them?

Eric Upchurch [00:05:27] Yeah, it started off so I started off investing. So I was bouncing around in the San Francisco Bay Area, like I said, and traditionally not doing traditional investing because I was just just got out of the military where you don't make very much money. Right. And I was thrust back into the Bay Area where my wife and her family are from. And we just went back there to get started. And I kind of just started looking around and going like, how do I have a rental property in Savannah, Georgia, where I was stationed? And that's making some money. But I see there are other people making money in real estate investing with rentals. So how do I step that up? What does it look like for me? And then I just started reading the right books. Some of them are mind set. Some of them, you know, rich dad, poor dad. I went to a seminar locally in San Jose, California, and I just started really building a little bit of momentum, but really the kind of horizontal learning curve just really getting a solid financial kind of foundation and outlook underneath my feet. And then I applied whatever I could. Could apply to my current situation, which in the states, there's a product called the VA Loan Veterans Affairs Loan. If you've served in the military, you can buy a home up to a fourplex with no money out of pocket and no primary mortgage insurance. So usually if you put less than 20 percent down, you have to pay an additional PME, but not the case for veterans. Excuse me. So I bought a house with a VA loan, bought it for five hundred thousand dollars, which is in the San Francisco Bay Area. The cheapest thing I could find at the time. Two years later, my eyes were wide open when I realized it was worth six ninety and so and I didn't do anything to it. That was just market appreciation. So that was step one. That was house one. And that was my living flipping kind of capital building phase. I did that another time, same thing. But we actually forced some appreciation in in another location in the Bay Area, and that was a two hundred and fifty thousand dollar spread in nine months that we made on that house. And then we did it one more time. And so the whole time, as I'm learning this thing, I'm going, OK, well, I'm not technically like an investor, I guess, but this is an important piece of the investment puzzle. Where's my money come from? Right. Everyone's wondering, like, where's my deal and where's my money? So at that point, we realized, OK, well, we kind of inadvertently on the first one made some money. The second one, we were like, OK, this is intentional. Let's keep doing this. And we have our kids in tow. Also, by the way, we're living in these houses and doing this. But that was our capital building phase. Then I just started networking, found a friend who has now syndicated a couple billion in multifamily. So I reached out to him and he goes, Eric, let me give you this example. If you were to invest, have invested, say, one hundred thousand dollars in this last asset that we just sold in five years, I would have turned or the asset would have turned that hundred thousand into two hundred and ninety thousand. And my jaw kind of dropped. And I was like. Well, OK, so can I do that now, like, are you still doing this, you know, and so we ended up investing in his in a four hundred and thirty nine pad mobile home park portfolio, which we are still currently invested as a limited partner in passive investor, which is about to go full cycle actually three years later, about to sell it. So that's going to be great. But then. So one thing led to another, another started again. It's all about networking and the people, you know, and actions you take on those relationships. And I just I found myself at a conference in L.A. and I said, well, I'm looking around and going, that guy's wearing like a hoodie and cut off jean shorts. And he owns a thousand doors. Like, why? I didn't know. I thought billionaires were buying apartments. Not guys, kids from Iowa, you know. Yeah. So that kind of changed everything for me and signed up for coaching and just was ready to take action. And because of that now, roundabout way of answering your question, because of that I, I was adding value to people and being consistent and trying to figure out which piece of the wheel on a team that I would be able to fulfill and found a couple of teams that I could work with initially and just and fill one piece. But then we started syndicating on our own as well, finding our own deals. And that's kind of what we do now as well. So my first full year of real estate investing as a general partner, we closed five hundred and seventy one doors.

George El Masri [00:10:05] Wow, that's awesome. So just to kind of describe this process to the people that may not understand it, as a general partner, you're raising funds from your limited partners. Basically, it's kind of a different structure than like if you're buying personally, can you kind of explain a little bit?

Eric Upchurch [00:10:21] Yeah, sure. So, I mean, you kind of summed it up there. You have to follow Securities Exchange Commission regulations as a as a non broker dealer. I'm not a licensed advisor, so to speak. I'm not licensed to raise funds unless I fall under certain exemptions under the law, which which basically either five or six C exemption that allows you to advertise your deal. But you can only take money from accredited investors, take investments from accredited investors who have a certain income, two hundred thousand dollars per year for the last couple of years and expected going forward, or A five or six B, which is raising capital from basically friends and family, people you have a substantive preexisting relationship with, but you may not advertise those deals. Right. So so those are kind of the two examples of how how you can do it. But ultimately it is buying a set. We go for 100 plus unit apartment complexes and you're raising the equity from investors and providing amazing returns to them at a certain internal rate of return. You you give them a set up, a webinar form so they understand the investment. And so it's highly regulated. Its books are wide open. It's a very common thing that I didn't know existed until a couple of years ago. So it's pretty, pretty neat.

George El Masri [00:11:44] What kind of challenges did you face when you were first starting to raise capital for these investments?

Eric Upchurch [00:11:50] First first chance I had it was. I don't know anybody who is the the self-doubt you get, the the mind set piece of it is the most critical element to real estate investing or wealth creation or just doing anything you want to do. That seems like there's an obstacle in the way you've got to be willing to look past that and go, well, I don't really care if I don't think that I can do this. I need to do this. And I have a very deep rooted why that drives me through those those things. So it was really just reach out to my and look at my phone. If you take out your phone, if you're listen to this right now, take out your phone and scroll through the hundreds of people guarantee you someone has a retirement account, someone has an uncle, someone has a cousin, someone has a mother or father or them themselves. They don't know what to do with their some money they've stashed away in a savings account or whatever it is. You just don't know until you start telling people what you're doing and who you are and why you're doing it. And then people will start to kind of come out of the woodwork once they see that in you.

George El Masri [00:12:56] Oh, for sure. Yeah. So I guess just to sum it up, the biggest challenge when you started was your own doubt, doubting yourself and not knowing where to get the funds from. But you're saying just look at the people you already know there's money to be found there.

Eric Upchurch [00:13:11] It's right. And there are issues with imposter syndrome, too. I mean, we all kind of wrestle with it. Like maybe you sit there and go, how why do I deserve to be a great podcast host or whatever it is? Right. It's yeah, it's just that's the human that's just human nature. And we have to be able to push through that. And I say it as much as I can. The obstacle is the way the things that you want or on the other side of fear. Once you break through that, you'll realize amazing things, but also recommend having big goals on the on the back side of those goals as well. Or else I'll never be fulfilled for sure.

George El Masri [00:13:43] Yeah. So when you're looking for deals today, what kind of properties do you look for and is there like a specific strategy that you do that you follow every time, or are you open to different different types of properties, different strategies?

Eric Upchurch [00:13:57] Yeah, we're focused mostly on commercial multifamily. We try to stick to between eighty, eighty plus doors. We say 100 because we're looking for larger deals. Now really ultimately you'll find if you if you want to start doing this, it seems scary to say, oh, we're going to operate by and operate a one hundred unit apartment complex. But it's really it's no it's not a whole lot different than buying a 10 unit. Right. Except there are systems in place to pay for themselves, like property management. You know, the larger scale you go, the more passive systems. Well, relatively passive systems you can create like somebody who you're paying your property management company that you're paying to manage. It is going to have software systems in place already that you won't have to purchase. Right. And little things like that just makes it easier as you scale. So typically multifamily, we have considered self storage and some of our investors are interested in self storage as well, which is a great asset class. And I have colleagues that appears that invest in self storage as well. We also own mobile home parks as well. So another good asset class.

George El Masri [00:15:03] Yeah. And are you purchasing in a specific area or are you spreading out your investments across the country?

Eric Upchurch [00:15:09] We're focused mostly where we have relationships so we can effectively manage the assets we focus in. In Indiana primarily right now, we'll look elsewhere, but we realize that's not the low hanging fruit. And we are also building active duty passive income, which is our primary focus, kind of in parallel with the multifamily assets, two separate groups. But that's what I'm involved in. And so just balancing that time. And so to us, when we when we buy multifamily assets, we have to be aware that the best use of our time and our investors time is if we stick to something that we know and you'll get you know, you build those relationships to when you stick in one area. And so now we have brokers sending us off market listings that we can analyze and move forward on.

George El Masri [00:15:54] Yeah, if you're looking to structure a general partnership type of deal, is that something you could do on the GOP side, on your own, or would you suggest like getting together with somebody, a partner or maybe more than one person to to do the deal together as a group?

Eric Upchurch [00:16:10] Never do it on your own general partnership. You must have other team members. And I would say that, first of all, you're going to have a Securities Exchange Commission, an SEC attorney, that is that is physically, you know, drafting up all the documents, the private placement memorandum and all the legal documents you need. But aside from that, one person cannot go and buy and cannot as a very definitive word. Right. It's a very strong word, but no one should ever try to do that. You're not protecting if you're trying to do a capital raise, you're the guarantor on the loan. You qualify for a net worth and liquidity. Your asset, your asset manager, your that's. Too much for one person to do so between two and five people on your general partnership is is a very typical structure to kind of divvy up those. And people are going to have strengths and weaknesses. You need to have somebody who's extroverted and loves going on podcast and have somebody who is introverted and loves crunching numbers behind the screen and wouldn't be caught dead on a on a stage talking in front of people. So you really do have to have that that team created in order to create the most value for your investors. Cool.

George El Masri [00:17:21] Cool. And how did you assemble your team? Was it through, like these different conferences that you attended or were they like family, friends or friends they grew up with or whatever or anything like that?

Eric Upchurch [00:17:31] Yeah, two things. Constant networking. You're constantly telling people who you are, what you do. Branding is essential. Also, people know us as military real estate investors. If they think about a property that's coming up near a military base, they'll send it to us because they know that we have something to do with the military. It doesn't even matter. Right? It's just where we're to, where two industries collide. You've got this niche. We have military members for past or present and you have real estate investing and we are where that intersects. So that branding piece is important. The other part is so that's networking. But my team, the team that we started our company with, we're all real estate investing company. And so we said, well, let's let's get into multifamily together as well. So we still do cool.

George El Masri [00:18:17] What's the what's the big vision there for your for your company, for your general partnerships? Is there like a certain number of units that you're targeting

Eric Upchurch [00:18:27] used to be the hardest deal ever is zero to one getting your first deals. If you're considering this, you've got to commit yourself to even five years of just networking and constant output and consistency and building that solid financial or educational foundation and network. But once you get past that one, it's not necessarily about door count anymore. It's about what your goals are. So to answer your question, our goal is to is to provide amazing returns to our investors when we find and we underwrite very conservatively and we don't need to stretch anything because we have these other companies as well that we're building for military members. So it's really just on the multifamily side, we have the ability to wait for the right deal and make sure that happens. But also someday down the line. And I'm kind of getting ahead of myself here. But what we would like to do is create a fund where our community can invest in what we're doing. And and we'd like to figure out a way to donate those proceeds to nonprofits, to a veteran owned non-profits.

George El Masri [00:19:38] Awesome. That's great. You guys are doing really cool things. So over here, I'm sure it's like in Canada, I'm saying, but I'm sure in the States there is something equivalent to it or maybe the exact same thing. But we have either joint venture agreements or co venture agreements. So you basically have two parties that would come together and let's say buy a piece of real estate together. What would be the advantages of doing a LP versus just doing a joint venture for the acquisition of a property?

Eric Upchurch [00:20:10] Scalability, really? I mean, if you think about a JV, I'll preface this by saying, gee, these are amazing. That is that is the goal ultimately is to not have to have one hundred investors on a deal or ten investors on a deal. Right. But I'd say that's maybe my goal. But someone else's goal might be I just want to syndicate forever because I can grow to fifty thousand doors and and never have to have any of my own money in the deal or whatever their thing is. Right. And that's what I love about, about multifamily investing is it's so dynamic. You can kind of create your own business however you want to. But a JV is is great because you you don't you're not answering to anyone except for partners in the deal. Yeah. And that's great. So it's it's if you fail, it's your failure, it's not your investors failure. And a lot goes into that. I mean, you can imagine the backlash if if something were to fail. But if it's just you and a JV partner, it's probably a little less stressful as it management's a little little cleaner and smoother. There is no investor relations piece to the deal or you don't have to give monthly or quarterly updates. Yeah, but, you know, a drawback would be, well, you're putting your own money into the deal at that point. So if you have limited amount of funds, you have limited amount of deals that you can accomplish together, right?

George El Masri [00:21:28] Oh, absolutely. Yeah. So scalability is one big thing, but I guess one of the cons would be answering to a lot of different people, having a lot of opinions pretty much on every deal. Yeah.

Eric Upchurch [00:21:39] And Kelpies know that they don't have a say in the asset management piece. They're just trusting you with their investment and your job as a as a general partners to go operate as as according to the business plan and according to all the things that. You showed them in the private placement memorandum, an operating agreement?

George El Masri [00:21:57] Yeah, just out of curiosity, I'm not too familiar with the structure, but is there something equivalent to a board of directors or something like that for decisions?

Eric Upchurch [00:22:07] No, it's just the team. And, you know, it's really just, like I said, two to five people. It could be a little bit larger than that, but that gets a little bit sticky sometimes. So, yeah, it's pretty easy to communicate with five people on a daily, if not weekly basis, right?

George El Masri [00:22:21] Yeah. And do you have different people for different deals or is it kind of like your core group and you guys do all your deals together?

Eric Upchurch [00:22:29] Yeah, both. We have a core group that we that we do deals with, but you're totally free them and you have an operating entity that you can use to or you can create new ones and go work with other teams. It's a pretty open system where you're networking out at different events or you're on podcasts or you're doing whatever and you have your core group and you can also add you can add value to someone else's team and they reach out and they're really interested in what you have to offer. You're absolutely free to go work with other teams as well. So awesome.

George El Masri [00:22:58] Yeah, I want to touch on you said I think that you were investing in Indianapolis, the area or Indiana. So what is it that draws you to that market? And can you tell us a little bit about like some of the deals that you work on or you've worked on in the past?

Eric Upchurch [00:23:16] Yeah. So the sometimes you're searching I said earlier on the show, finding money and finding deals with the two things that people always struggle with and they also need to be working on in parallel. Always, even if you don't have a deal, you need to be looking for money, you know, looking for your next investor. So sometimes the deals, sometimes you're searching for the deals and sometimes the deals find you. And in this case, the market found us because a partner that we're working with already had a fifty six unit in the area. And but other than that, so so then we started networking and knowing people and going out there and making sure we knew the lay of the land. And I get really in detail with knowing city officials. I'll go meet with the mayor and do whatever I can to add value to the community as well. So we're so we're known as an entity that goes and does good things for the community. But yeah. So it's just a good idea to get plugged in that way. And then. Yeah. So you stick around, stick around and market that, you know.

George El Masri [00:24:19] Great. Yeah. That must be an awesome feeling to know that you're positively impacting a community by. I'm assuming that when you purchase these assets you are improving them typically and making them better for all the residents.

Eric Upchurch [00:24:32] Yeah, we go a step beyond that as well. One thing that we have incorporated, I created this kind of idea that we can rally the community around our asset instead of just doing great things for the tenants. So like I said, I'll go and meet with the mayor and we'll go meet with the tax commissioner, tax assessor. We'll go talk to city officials. But another thing we do is we hold a ceremony at the property on Memorial Day. So in May, and we will dedicate all of our properties individually and one at a time to a Medal of Honor recipient. Hopefully, usually we'll find somebody who's local to the area, to the city or state or county, and we will we will honor them and have a ceremony and just mount a plaque to either the building or Iraq under a flag or something like that, and will host just an event with bounce houses and a food truck and invite the mayor. I invite the governor of Indiana and they were sending a telco there, were sending a proxy down to say a couple of words about this Medal of Honor recipient. So that type of thing not only rallies the community around your asset, but it also does well for your assets. People now know that your apartment complex is in good standing in the community and that it exists because maybe some people hadn't seen it, so.

George El Masri [00:25:49] Oh, for sure. Yeah, well, that's great. It sounds like you're really passionate about what you're doing. So it's it's great that you're getting involved in these types of projects.

Eric Upchurch [00:25:57] Well, passion, passion comes and I mentioned this earlier, I have a deep rooted why I do this for the memory and pride of those who've gone before me, for they love to fight, fought to win and would rather die than quit. So as a special operations veteran, my brothers and sisters who are no longer here and cannot feel the pain of entrepreneurial struggle or the opportunity that we find and seek, I do this for them and there's nothing that is hard about becoming successful or becoming wealthy or or, you know, taking that next leap or moving past fear or whatever it is, because I'm breathing, I'm here. They're not. So I have an easier time getting up, out, out of bed every day, even on a hard day and going after it and tackling the tackle in the day.

George El Masri [00:26:42] Oh, for sure. For sure. Yeah. So I have a question about the types of properties that you're buying. Are they run down mismanaged properties or are. They usually turn key and fairly easy to take over

Eric Upchurch [00:26:57] intersection right in between that, we don't we won't be in a declasse neighborhood. My rule of thumb is if I can walk at dusk around the streets near the property with my wife, it's a good neighborhood, good enough to invest in so blue collar, classy properties that do need. Well, they don't necessarily need renovation, but we have to analyze cash flow. We have to see what the value add proposition is. Our investors are going to look for force appreciation of some kind. We don't ever count on market appreciation. But what is that value add? Can we reduce expenses? Can we increase revenue? A combination of both. Maybe it's mismanaged property management, like you said, and we can swap that out to get things handed a little bit better. But it's managing the increasing revenue and reducing expenses that increases the net operating income, and that's what provides returns. So we just have to find out what that is on every asset. And then and then we're in a good spot.

George El Masri [00:27:55] So, yeah. Are you able to provide some examples of ways that you've been able to decrease the expenses or. Well, I mean, increasing profits. Pretty simple.

Eric Upchurch [00:28:03] Quick is one. Yeah. I mean, and you can't over increase your rents and you don't want to over renovate because and we do this analysis in due diligence before we close because you know, you don't want to have granite countertops if nobody in the city has granite countertops for no other apartment does. So and that goes for single family investing as well and all that. So but you really want to so look at contracts. I'll give you one example. That's really the easy to to understand. When we took over this 80 unit, we we looked at all the contracts and found that we were paying twice as much for our garbage contract each month than with another company that provided the same service. So we reduced our garbage contract by six hundred dollars a month, which over the span of a year divided. And so that's increased its decreased expenses. So increases your net operating income and divided by the cap rate, increase the value of the property by one hundred thousand dollars instantly. One hundred and two thousand dollars. So that's that's why we love commercial multifamily the way it's valued. And and it's as simple. It's not necessarily easy, but it's as simple as figuring out if you're overpaying some kind of expense. Can you build back water to a tenant only if only if other apartments are doing the same, of course. Or do I have a leak in that I need to fix? You know, why is there a water bill so high so that stuff can go a long way?

George El Masri [00:29:31] Oh, yeah, for sure. I do send, like, let's say, your plumber to inspect the units to see if there are any faucets that are dripping or leaky toilets or stuff like that.

Eric Upchurch [00:29:41] Yeah, not necessarily a plumber, but we have regular inspections from our we have a maintenance check that's all that actually lives on the properties. And they are responsible for, you know, regular inspections, quarterly biannually inspections on each unit, and they'll install aerators on the faucets to make sure they're not spilling out tons of water. And also check definitely checking for leaks and then keeping up with work orders is another big one. When we took over this property, they had work orders that were one or two years old of a woman who had been living there since nineteen ninety six. And she's had a leak upstairs, of all places from for, for over a year. So, you know, just keeping up with workers is important.

George El Masri [00:30:24] Oh yeah. For sure. OK, cool. So that's what we talked about. Some examples of reducing expenses and the impact of that. You did mention cap rates there. What are just an for as an example, what are some of the cap rates in the markets that you're in?

Eric Upchurch [00:30:40] It's going to vary deal to deal kind of neighborhood by neighborhood. But we're not in like Dallas. Dallas is really hot right now or you've got four and five caps. And yeah. So we're looking at between five and a half to seven caps, seven be on the high side right now. But yeah, five plus say a six cap is is pretty normal or at tertiary, secondary and tertiary markets. Cool.

George El Masri [00:31:07] OK, all right. So we covered quite a bit here. Is there anything else we want to discuss before we move on to the next section?

Eric Upchurch [00:31:16] Up to you, I'm good.

George El Masri [00:31:18] OK. All right, so

Eric Upchurch [00:31:20] Georgia, I'm blue in the face, so. Yeah.

George El Masri [00:31:23] All right, fair enough. The next section is called the Random Five, so I'm just going to ask five random questions. Yeah. And you just tell me the first thing that comes to mind.

Eric Upchurch [00:31:31] Well, this is going to be hard

George El Masri [00:31:33] sometimes it is, but I think these ones were pretty easy. So No. One, what possible future invention do you wish existed today?

Eric Upchurch [00:31:42] The first thing came to mind was time travel. Yeah, that'd be awesome, but then it would kind of ruin things. So I'll stick with time travel is OK because it would be cool, you know. Yeah, I was thinking I was thinking sometimes, like how cool it'd be for a moment or for a day or something relatively safe to go back to the eighteen hundreds and see the gold rush or something, you know. Yeah.

George El Masri [00:32:03] Yeah. That'd be so cool even just to not even live through it but just to see what was happening that be cool. Yeah.

Eric Upchurch [00:32:09] Even just kind of an out of body bird's eye view of what was going on with you. Yeah. Yeah, yeah, yeah.

George El Masri [00:32:15] All right. Number two, if you had a time machine, which is kind of what you just answered, which period would you visit?

Eric Upchurch [00:32:21] I mean, one hundred percent. I would go back to the eighteen hundreds probably. I just I find it very fascinating. We live in Northern California near where the gold rush in the states kind of began. And we're about 15 minutes from there. And we go there with our kids and we pan for gold still as if we're going to find some big nugget in the stream or something. But I just find it so fascinating to to think about how hard it was to just even get into that valley on horseback with no roads, no trails, and just exploring a new land must have been just incredibly tough. So, yeah, let's go back.

George El Masri [00:32:59] Cool. OK, number three, what's the longest journey you've ever been on?

Eric Upchurch [00:33:05] The longest journey, distance or time or

George El Masri [00:33:10] I'll leave that with you, you answer whatever comes to mind,

Eric Upchurch [00:33:13] I think I am in the middle of it right now, I would say. And it's funny because this is a journey post military where I am seeking who I am and who I know I am. And my my mission is to educate, empower and to help people grow. And, you know, we're giving in a big way now and we have huge giving goals. And I don't know where all that came from. But all of a sudden, I'm obsessed with ending veteran homelessness and and and we're doing it. And so I think watching it, thinking about the journey of where I am now to where I'll be in 10 years is the longest journey. It's a it's a journey that is actually getting longer. Like the like the universe is large. My journey is getting longer, as is progress. Yeah.

George El Masri [00:34:04] Yeah. Well, you're doing great things and you're accomplishing a lot. So so keep on going. And it's going to be exciting to see where you end up in ten years. I promise. I will. Yeah. No. Four. What's what's a memorable place you visited.

Eric Upchurch [00:34:20] First thing came to mind was the Grand Canyon. I went on a backpacking trip with my buddies back in college and I was just that's the first time I think I realized that a phone, although I think only flip phones were a thing back then, but that that a phone or a camera can't actually capture the vastness and the color and the depth of some things. You see, you know, when you try and take a picture of the moon is like really pretty moon and it's like just yellow dot on your screen. You're like, whoa, you can't see anything. So, yeah, that's first time I really realized, man, I need to stop and just just just look with my eyes. Forget the phone, forget trying to take a picture of it with a camera. So Grand Canyon is a good one. Very memorable. Yeah.

George El Masri [00:35:11] OK, and the last question, what success principle do you live by?

Eric Upchurch [00:35:17] That's the easy one, the success formula, I believe, to be four things, it is learn all you can. Network your butt off, add value to as many people as possible, take action on a regular basis. So if you do those four things, learn network, add value, take action with the intention to only be one percent better, daily success will hunt you down. Oh yeah.

George El Masri [00:35:44] Cool. I like your answer. That was like probably one of the better answers I've heard to that question. So yeah. So that's great. And the last part of this is how do people reach you and what are some of the services that you provide?

Eric Upchurch [00:35:59] People can reach me on Facebook, you can go to our website. Active duty, passive income dot com. I'm real. Eric Upchurch on Instagram and services we provide if you know anybody who is a veteran in the states currently or previously had them connect with us. We have a lot of we have a number one best selling book that we give away for free. And we have financial services. We have free legal counsel for asset protection. We have tax strategy for real estate investing. We have education courses and mastermind's. And so really just a comprehensive, comprehensive company for anything. Real estate investing and military.

George El Masri [00:36:42] Cool. Awesome. Well, Eric, thank you for sharing everything. And I'm happy to hear about all the great things you're doing for people and for your military community. And I wish you all the best moving forward. I'll be sure to include all your information in the show notes.

Eric Upchurch [00:36:55] Thanks so much for having me. Appreciate it. Right.

George El Masri [00:36:59] Thanks once again for listening to another episode of the Well Off podcast, just want to remind you that if you do appreciate the content, all I ask is that you comment, maybe like it if you can, on the platform that you're listening to it on and finally share it with friends and family. I'd love to get the message out there and it would mean a lot if you can share it. And finally, I just wanted to offer you as a valued listener, a free copy to the roadmap to real estate investing, which is a document that I've put together which helps you identify what strategy would best suit your needs at this current time. You go over certain things that are included in this document step by step, and it'll hopefully provide you with some clarity. So have a look. You can go to w w w well off Dasia Forward Slash Guide to download your free copy.

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