Hi this is Mark Green bringing you another episode of the Veteran Connections Podcast where my mission is to help transitioning Veterans and Veterans already out of the military engage with the business community, and to share the knowledge and tools needed to successfully start a business. The Veteran Connections Podcast brings you experience and advice from fellow Veterans who are business owners and have made the transition from the military and into the business community.
There are Veterans transitioning out of the military every day. Some of them have an idea or a passion that they want to turn into a business. Having the right connections can be the one thing that makes the difference between a success or a failure. In this Veteran Connections Podcast I will be talking to Veteran business owners about what steps they are taking, the hurdles they have ran into, what advice they have for you, and what they hope life will look like a few years from now. With these real life interviews and real life results you can gain the expert knowledge from those that have been there. From your military brothers and sisters.
Financial freedom for those who serve is the mission of the company, Active Duty Passive Income. Eric Upchurch, COO of the company, is a real estate investor who is passionate about changing the literacy of active duty and veterans through real estate.
You can follow Eric here
1:15 Eric shares his interesting progression from culinary school to Special Operations Aviation Regiment.
5:39 What got Eric started in real estate?
- The book, ‘Rich Dad, Poor Dad’ by Robert Kiyosaki.
- A veteran’s experience of constantly moving and its impact on their property.
7:25 The question of leveraging answered.
- Eric’s investment in resources to increase his personal development and financial/wealth building.
8:25 The advantages of real estate?
- Monthly cash flow, if you buy right.
- Tax deductions that offset your cash flow.
- Leverage, debt reduction.
10:22 How do you gauge the risks of real estate?
- It’s a team effort.
- The 1% rule applied.
14:32 Eric speaks about information found in the book, ‘Military House Hacking’
17:30 The term ‘House Hacking’ explained.
21:20 The first step to military house hacking.
- Learn something.
- Recommended books, ‘Rich Dad, Poor Dad’ and ‘Military House Hacking’.
21:49 A proven process for success.
- Learn, network, add value to everyone around you, take action and repeat over time.
26:50 Passive ways to invest in multifamily properties mentioned.
27:42 How to not pay taxes – it’s all in the code.
- Read the tax code.
28:26 The role of entrepreneurship when transitioning.
32:47 Other useful literature.
- Think and Grow Rich by Napoleon Hill.
- As a man Thinketh by James Allen.
- Cash Flow Quadrant by Robert Kiyosaki.
33:15 Additional FREE resources on the website http://www.activedutypassiveincome.com
- VA Loan Mastery Course
- ‘Military House Hacking’
- Freedom Session Coaching Call
- Social Network that’s ALL real estate, ALL military.
- Closed Facebook Group: Active Duty Passive Income.
The Veteran Connections Podcast provides advice from Veterans for Veterans. A lot of people like you and me that have been through the military have the same thoughts and a lot of the same questions. We may have even had the exact same struggle. I hope you find some answers as you go on this Veteran Connections journey with me where we will learn, explore, and get answers to your questions.
Another great resource for Veterans wanting to start their own business is the Small Business Administration (SBA)
If you need more information or want assistance implementing one of the things you learned about today you can contact me. I can teach you techniques and strategies to help you connect and network in the business community so you can reach your personal or professional goals. Email me at firstname.lastname@example.org and let me know how I can help you!
I hope that you have enjoyed this podcast episode and if you have a burning question that you would like to get answered by an experienced Veteran business owner about starting your own business go ahead and email me. I will be sure to answer it in a future episode!
Thank you for listening! -Mark