Ep. 79: Building Generational Wealth Through Multifamily with Juan Vargas

Building generational wealth consists of many investment strategies, but real estate seems to be a common choice. Many seek to buy single family homes to fix and flip, but is there a better way to create wealth through real estate? Today’s guest, Juan Vargas shares time-tested means to do just that. While others do-it-themselves, he shares that leveraging on other’s experience is key to real estate success. Juan hosts the Commit To Wealth Podcast, and also shares about the major role multifamily plays in wealth building. What’s more, he gives insights on the Houston market, hot sub-markets and winning off-market deals.  

Key Market Insights

• Based in Houston, Texas
• Hosts the Commit to Wealth Podcast, which focuses on helping others build generational wealth
• Recently interviewed Robert Kiyosaki
• Key Takeaway from Robert Kiyosaki: Economic viewpoint moving forward
• Influenced by his DIY dad to invest in real estate, and changed his strategy a bit
• Real Estate is creating passive income and time. Do not do it by yourself.
• Started investing in single-family homes
• Major Disadvantage of single-family homes: Vacancy equals no income, plus expenses
• Transitioned to multifamily after relevant education through books, podcasts and networking
• Tip in Winning First Multifamily Deal: Leverage on someone’s experience, and bring them values
• Finding Off-Market Deals through Direct Mailing
• Direct Mailing Tips: Give credit to yourself and address pain points
• Real Estate Opportunities in Houston after Hurricane Harvey
• The Path of Progress in Houston: Harris County, the largest county; Southeast and East (Baytown, Pasadena), blue-collared demographic, increasing trade, refineries and manufacturing; North and Northwest (Woodlands, Conroe, Cypress, Tombow, Katy, Sugarland), population and job growth   
• Financing Challenge in Houston: Financing over 65% needs pre-review on experience, track record and deals
• Hot Sub-markets: Texas (San Antonio, Dallas, Waco, Paso Texas), Florida (Jacksonville, Tampa) and Atlanta
• Currently targeting multifamily deals

Bull’s Eye Tips:

Winning in Houston: Understanding the market.

Tracking Market Changes: Networking.

Daily Habit: Stay motivated through listening to audiobooks and watching motivational videos.

Resources:

Commit To Wealth Podcast

Book Recommendation:

Rich Dad’s Cashflow Quadrant by Robert Kiyosaki

Extreme Ownership by Jocko Willink

Digital Resource:

HubSpot

Tweet This:

“If you keep being persistent and consistent, then there’s no other way than to breakthrough.”

“Don’t blame others for your lack of progress.”

Places to Grab a Bite:

Fogo de Chão Brazilian Steakhouse

Texas Roadhouse

Connect with Juan:

Email: Juan@CommitToWealth.com or Juan@genwealthcapital.com