Podcast Summary: Real Estate Investing School Podcast

Episode 4: The Power of Proximity and Growing Through Partnerships with Eric Gubler

Release Date: August 1, 2022
Host: Joe Jensen
Guest: Eric Gubler

Episode Overview

This episode explores the power of proximity—intentionally surrounding yourself with people who elevate and challenge you—and the immense potential of partnerships in real estate investing. Guest Eric Gubler, a real estate agent, investor, entrepreneur, and storage facility owner from St. George, Utah, shares his journey from door-to-door sales to building a diverse investment portfolio. Eric emphasizes actionable steps: dreaming big, learning relentlessly, building the right relationships, and jumping on opportunities when preparation meets timing.

Key Discussion Points & Insights

Getting Started: Vision, Work Ethic & Intentionality

• Background & Motivation: Eric credits his work ethic to early experiences, including an LDS mission and door-to-door sales. He recognized he didn’t want to “knock doors for 10 years and be left with nothing,” seeking both high income and smart investment. (02:21)
• Dreaming & Planning: Eric’s entry into real estate coincided with marrying his wife, together setting long-term goals—license, moving business, storage units, and passive income streams. “Everybody needs to be a dreamer at some point. But then, like, where the rubber meets the road, like, you’ve got to push and push really, really hard.” (04:44)
• Preparation vs. Opportunity: “When I put deals together, it happens very, very quickly. Like, when you see a deal, you jump. But the preparation before that is a long process.” (00:00, 21:28)

The Power of Proximity: Networks, Learning & the Rule of 33

• Intentional Networking: Eric describes the “Rule of 33”: spend 33% of your time teaching those less experienced, 33% with peers, and 33% learning from people way ahead of you. “Find those people, because success leaves clues… just get started. Do that all the time. Like it’s 12 bucks to pay for somebody’s lunch. But they can leave you with a couple thoughts that are worth a couple grand.” (06:23)
• Expanding Mindset: Proximity to higher performers accelerates both opportunity and growth. “Show me your friends, I’ll show you your future.” (06:23)
• Teaching for Mastery: Sharing knowledge with others isn’t just altruistic—it cements your own learning: “You learn best when you’re teaching.” (08:13)

Breaking Down First Deals: Getting Creative & Being Ready

Eric’s First Real Estate Deal

• Becoming an Area Expert: Eric spotted a condo’s “for sale” sign across from his rental and knew immediately it was $15k below market value—because he became the “Kobe Bryant of his area.” (09:05, 10:27)
• Financing Challenges: Self-employed and lacking two years of qualifying income, Eric leveraged tax returns from his moving company LLC to “barely squeak it by.” Having a business entity proved invaluable. (12:24, 15:09)
• Doing the Work: He and his wife lived in and fixed up the condo—painting, updating cabinets, adding quartz countertops—demonstrating sweat equity. (13:41)
• Results: Bought for $113,000, held for three years, and eventually rolled profits (~$100k) into a larger storage facility deal. (10:58, 11:52)
• “If you wait till the deal falls in your lap and then you start to learn…It’s late, it’s gone.” (22:29)

Risk, Education & Asymmetrical Returns

• Avoiding High-Risk Mentality: Both Eric and Joe stress that real estate doesn’t have to mean “high risk, high reward.” Instead, it’s about “high education, high vetting, high reward—with capped risk.” (19:37)
• Leaning on Networks: Having mentors and experienced friends on “speed dial” helps bypass fear and avoid rookie mistakes. (18:43)
• Failures: Eric hasn’t had a disastrous deal yet, attributing that to careful research, timing, and peer review. Missed upside on sales (selling too soon) is his main “regret” but underscores his grandfather’s wisdom:

  “It’s hard to go broke making profits.” – Eric Gubler, quoting grandfather (21:12)

The Storage Unit Investment: From Vision to Turnkey Passive Income

• Spotting Demand: By running a moving company, Eric saw firsthand that storage units in St. George were “99% full – never found an open unit,” inspiring his plan.
• Automation and Simplicity: Modern software (Easy Storage) makes storage units quasi-passive:
  • Customers self-select units online and get unique gate codes.
  • Automated payment, access, and late-fee handling.
  • “The reason I like it, you don’t have plumbing. You don’t really have much electrical. You don’t have people living there… Maintenance is pretty low.” (26:06)
• Structuring Partnerships: The deal came together via relationships—formed teaching a pickleball lesson to a wealthy investor. Eric immediately acted on land, then brought in additional partners (including the Easy Storage software creators).

“It’s pretty close to 30-30-30ish. But...the thought from the very beginning is, look, this is gonna get really complicated if we’re not all in. Everybody’s got to be 100% in.” (29:22)

• Action & Uncertainty: Even with no prior commercial deal experience, Eric dove in because the numbers were undeniable, trusting his ability and partners to “figure it out” as they went. (30:41)

Guiding Principles and Personal Habits

• IV = EV Equation:
  • IV (Interpersonal Value): Self-education, integrity, becoming rare through hard work and honesty.
  • EV (External Value): The value you add to the world, including profit/prosperity.
  • “Focus on yourself, your self education… As that IV [intrapersonal value] goes up, guess what has to happen to the other side of the equation? EV [external value].” (32:15)
• Always Start Over: Success brings a new baseline—keep dreaming, keep growing, and keep giving back. (35:15)
• Giving and Impact: Value and legacy come from creating impact and helping others, not just accumulating wealth. (49:04)
• Intentional Living:

  “Just live intentionally…. All of this that we talked about is just living intentionally. Planning out your day, planning out your week, dreaming big.” (51:32)

Memorable Quotes & Moments

• On Jumping into Opportunities:

  “One deal can change your life forever. Like, that deal for me was my one.” – Eric Gubler (17:17)

• On Preparation:

  “Once the time of preparation has passed, like, you’re either ready or you’re not.” – Eric Gubler (16:38)

• On Partnerships:

  “I’ve had partnerships that didn’t work out. [My current partner] has been the best partner, like, it’s so crazy how… he’s wiser than me. He is calm and collected… the perfect partner for this deal.” – Eric Gubler (28:47)

• On Dreaming:

  “Sometimes we get so busy in life that we don’t have time to dream big… Even if you’re making a million dollars a year… you might be blind to opportunity because you’re so busy and stressed and tired.” (42:20)

• On Failing Forward:

  “Don’t be afraid to fail. Fail faster is something that I live by… Everything in between is just failure. So just jump in and don’t be afraid to fail.” (46:59)

Timestamps of Key Segments

• Start & About Eric (agent, entrepreneur, investor) – [00:14–01:22]
• Getting Started: Early Career, Motivation – [02:21–05:28]
• Vision: Mapping Out Life & Business – [03:59–05:28]
• Rule of 33: Networking Philosophy – [06:23–08:13]
• First Deal Breakdown – [09:05–13:41]
• Creative Financing/Using an LLC – [12:24–16:10]
• Importance of Lenders – [15:09–16:22]
• Preparation & Readiness – [16:38–17:10]
• Risk Assessment & Proactive Learning – [19:37–22:29]
• Storage Facility Story & Automation – [23:12–26:06]
• Building Partnerships – [28:47–31:33]
• IV=EV: The Value Equation – [32:15–34:18]
• Consistent Learning & Surroundings – [38:25–39:05]
• Failing Forward & Mindset – [46:59–47:41]
• Intentional Living/Objectives – [51:32–52:18]

Actionable Takeaways

• Start with Vision. Carve out time to dream and plan, then take concrete, consistent action.
• Surround Yourself With The Right People. Use the Rule of 33 to both learn and teach—networking is an investment that multiplies.
• Learn Your Market. Be obsessive about knowing your area and spotting deals before others do.
• Prepare Before Opportunity Knocks. Get prequalified, have your business or finance structure in place.
• Embrace Partnerships. Bring in people who complement, not duplicate, your skills; be clear on roles and equity.
• Never Stop Learning. Read, listen to podcasts, and actively consume content from those ahead of you.
• Fail Forward and Don’t Fear Mistakes. Every investor’s path is paved with challenges; the goal is consistent progress, not perfection.
• Live Intentionally. Set aside time for self-reflection, dreaming, and planning—success follows when you live and act on purpose.

How to Connect with Eric

• Instagram: @EGoobler (“Just shoot me a DM on Insta. Always trying to post… real estate related or just mindset related, kind of some of the things that we’re talking about right now.”) (52:42)

Final Thoughts

Eric Gubler’s story underscores that real estate success is a mix of mindset, proximity, relentless learning, and strategic partnerships. Anyone can achieve it—regardless of where they start—by dreaming intentionally, building the right circle, and preparing in advance for the opportunities that will inevitably come.