Today on the show, we welcome Juan Vargas. Juan is the Managing Partner of GenWealth Capital, a Houston based multifamily investment company which has ownership in over 1,700 units. Although he has been involved in real estate for over ten years, Juan officially started his first multifamily in 2016 with a 32-unit acquired via direct mail.
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Today, Juan is a passive investor in over 1,700 units and is closing on a deal on 200+ units in Phoenix this week! Juan is largely self-taught and in this episode, he walks us through his process and best practices from the opening, to the closing, to the post-closing of a deal. Here, Juan shares practical tips on early-access agreements, what to look for in a property management team, what to look out for in your property reports, and what you should be discussing in your weekly manager calls. In addition, he provides helpful business advice on systemization, VA’s, networking and making yourself known.
Key Points From This Episode:
- The benefits of building an early-access agreement into your deals.
- Go hard or go home: Why you have to go hard money on your deals these days.
- How to ensure you hire the right management team for your class of property.
- Key things to look out for on your property reports, lease audits, and surveys.
- The “unseen” things, like wiring, that can severely affect property value.
- Why weekly calls with managers are vital and what you should be discussing.
- Hiring VA’s as a way to assist the property manager with lead generation.
- Dropbox, Google Drive, Slack: Using systemization tools to improve your business.
- Networking and actively making yourself known to attract more business.
- Preparing for a downturn by looking closely at the historicals.
- And much more!
[bctt tweet=”If people don’t know who you are, then it’s going to be hard for people to do business with you. — @theJuanVargas” username=”Whitney_Sewell”]
Links Mentioned in Today’s Episode:
About Juan Vargas
Juan has been actively engaged in all aspects of real estate sales, investment, management, financing and construction for more than ten years. He has acquired residential lots, 4 single family homes, and multifamily properties. He has experience with residential as well as commercial, including individually owning and managing a 32 unit multifamily property. This has allowed him the opportunity to gain first hand valuable experience in running and operating a multifamily property. His company, GenWealth Capital has ownership in over 1,700 units. Juan was raised with strong family values and a resilient work ethic. He graduated from Universal Technical Institute and worked for BMW for 14 years. There he led a team of 9 in the operations, diagnosis and repairs including mechanical, programming, and electrical complex systems. He is a personal student in Brad Sumrok’s personal mentoring program.
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