Juan Vargas is a self-taught son of immigrants who decided to pursue multifamily investing as a way to avoid the seven-day-a-week work grind he saw his parents doing with little results. He’s the founder of GenWealth Capital Group, with over 700 units under management in Texas and Arizona, and is the host of the Commit To Wealth Podcast.
Mark and Juan discuss work ethic, when you know enough, and how being a great passive investor can help you become a great sponsor.
What You’ll Learn In Today’s Episode:
- Juan grew up observing his parents working multiple jobs just to make ends meet. This influence primed him to look for better alternatives. But after skipping college, going to trade school, and starting his career at BMW, he fell into the same trappings of skilled-trade success. The more his skills developed, the more he began to make, the more time he spent at work. However, Juan was able to pivot by investing his increased earnings in real estate.
- Applying the same work ethic that made him a successful technician, He was able to push past the hurdle of closing his first multifamily deal. Noticing that brokers didn’t seem to be taking him seriously, he went direct to sellers to find opportunities. Once he finally had a deal under contract, Juan exhausted all options to find the financing and equity he needed to close, even going so far as to explore the sale of his primary home.
- If you’re serious about taking the step into running a syndication, then starting out as an LP is a great way to get started. This allows your to see the inner workings of a deal and start to figure out what you like and don’t like about the process. It can also open your eyes to the vast amount of time and effort that sponsors put into making these investments successful.
“The better you get at a skilled position, the harder it is to get out of it.” – Juan Vargas
Resources In Today’s Episode:
Books Mentioned In Today’s Podcast
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