WS1422: Growing Your Network by Meeting New Investors | Adrian Chuquillangui

EPISODE 1422

[INTRODUCTION]

Adrian Chuquillangui (AC): I think just being a part of different mastermind groups, those groups and masterminds are such a great way to get to know investors that have similar goals and targets. And that’s been a great way. 

So far, I think going to local meetups has also been a fun way to meet people in person out of a work environment, but also just locally and casually, just talking with locals and getting to know the community and sharing what you’re working on and being able to present opportunities through those avenues.

Whitney Sewell (WS): This is your daily Real Estate Syndication Show. I’m your host, Whitney Sewell. Today, our guest and he’s juggling military, two little babies at home, a third one on the way, by the way, and getting his real estate business off the ground. 

He’s gonna lay out some things that has helped him to get started, helped him to move the needle in a big way, even some habits that have been crucial for him. His name is Adrian Chuquillangui. 

He’s the founder and CEO of St. Joseph’s Capital, a commercial real estate syndication company with a purpose of helping investors invest passively in cash flowing assets, to protect and grow their wealth. He’s also the host of the St. Joseph capital podcast, a collection of interviews with experts in the real estate syndication industry that focuses on synergies between faith, family, and real estate investing. 

He’s a Catholic husband, father of two boys, active duty US Coast Guard officer, and real estate investor and syndicator. You’re gonna learn a lot today and be motivated by Adrian. Adrian, welcome to the show. honored to have you on and first and foremost want to say thank you for your service. 

You’re in the US Coast Guard. And I just want to first say, man, thank you for that sacrifice, even for your family as well, their sacrifice as you serve. So, thank you for that. Welcome to the show.

AC: Whitney, thanks so much. It’s an honor to be here. And thank you for your service as well. It’s always great to find other veteran syndicators and investors.

WS: Awesome. Well, Adrian, and now you have an amazing story how you got into this business, obviously, we want to dive into that and, and some about maybe being in the military and real estate and some of that at the same time; how you’ve been successful at that. We’re gonna dive into a few other things as well. But first get us started man who’s Adrian and, and let’s dive into the commercial real estate piece and how you got there.

AC: Yeah, absolutely. So my name is Adrian Chuquillangui. I am the Managing Principal of St. Joseph’s Capital, commercial, multifamily, and RV park, real estate syndication company where we help investors create new streams of tax advantaged income. Yeah, also, an active duty Coast Guard officer served for five and a half years, still active duty currently transitioning out of the military and seeking to go full time into real estate.

WS: Awesome. Why? Why go full time? You’ve been in the military now for five years? Why?

AC: Yeah, absolutely. So, I’ve got a wife and two boys under two right now. And we’re actually expecting our third son, ETA of February 2023. And, my wife and I saw how our life was rapidly transforming, as our family has grown over the last couple years and financial freedom, time, freedom, and geographic freedom really became, hugely important to us specifically for me, so that I can serve my wife at a higher level by just being a little bit more present than the level of presence that was I currently have, as you know, as an active duty officers. So really just trying to serve my family at a higher level really is, is the main reason.

WS: Love that. I love that drive and that passion to do that. Well, yeah, I’ve [been] striving to always improve in that area. have not arrived, that’s for sure. But appreciate your transparency there. Right? 

I mean, two boys under 10, expecting a third, that’s a busy household, and you have a busy life, that’s for sure, to say the least. But what was it about real estate? And I know you’re… I’d be at home to serve her better? How did you know real estate could do that for you? And you’re transitioning out of the military? So maybe you’re seeing now that, that’s gonna happen in the near future? Give us some light into that?

AC: Yeah, sure. So I want to get back a little bit to really, that time getting first involved in real estate investing. And it was because I was in the military. And honestly, my wife and I were just looking for a place to live that I was close to my job. And it was a convenient place to live. And it was a three-year assignment. And we used the VA loan because we thought we were going to be there for three years. 

But a military has its ways and I was only there for a year and a half. And so we really, were looking for other military property owners who knew how to manage rentals, so that way once I left and went to the next duty station, the property was taken care of.

As I started to get educated and connect with other military real estate investors, my mind was just blown and as I was, uncovering this world of real estate investing and what was out there and we were focused primarily first on single family residential looking at turnkey properties. 

But once we started hearing about commercial real estate and large multifamily and being able to have more control over the NOI and economies of scale and all the additional advantages of commercial real estate, we saw that hey, this can be be impactful for our family, but also those in need, and those who are looking for new ways to just level up their, their lives or their jobs. And so we just felt that we could really serve through this vehicle of commercial real estate. And, and that’s kind of what brought us to commercial real estate.

WS: Yeah, that’s awesome. Speak to how you moved forward in that, and obviously, share with the listeners to the types of properties that you’ve purchased already. But what were some of those steps you took to get to the first deal or so?

AC: Yeah, absolutely. So it’s definitely a long journey, for sure. You know, we used the VA loan for that first primary residence back in 2019. And then started to realize that we’re getting orders in the summer of 2020. So that’s kind of when we started preparing in 2020. And I joined the Active Duty Passive Income Real Estate Investing Academy. 

And that’s when I really started learning about single family homes. And as I was getting educated through that process was when I first heard about multifamily, and I was like, I have to join their multifamily academy. So I joined that. And soon after that, late 2020, invested passively into my first syndication as a passive investor, and it was another active duty military officer, who was actually stationed in Colombia, who was one of the sponsors on the deal. 

And he was also in the ADPi multifamily group. And I was just amazed at how he was working his active duty job, that attaché office and Colombia, but also raising capital and syndicating 72-unit apartment complex. And so I just picked his brain a little bit and was like, this is what I want to do, raising capital for deals, putting deals together, just seems like a great, great way to go and to be on that path to financial freedom. 

And although I thought that was going to be the start right there, it took, it took me a while to really start implementing different tactics for getting to that first syndication, honestly, about a year or so really, about just talking with investors, sharing with them, these great opportunities that I was so excited about and falling flat on my face several, several times in conversations or struggling with finding time between family life that coast guard life, and then you’re just trying to squeeze in a few minutes here, a few minutes there, for real estate. 

And then also just do dealing with a couple moves, because of the military. There are several challenges on that path to that first syndication, but really, I think what helped kind of get us to that first one was just continue to network continue to talk with people, continue to build those relationships, and there was an opportunity that presented itself where it was 506(b) deal, the minimum investment was a lot less than most deal. 

So it kind of gave me an opportunity to bring in investors who maybe weren’t ready to invest large sums of capital that were able to bring in smaller amounts. And it was kind of on the brink of discovering a new asset class within RV parks. And we were excited about RV parks and their rates of return and some of the cash flow that was involved, as well as the upside. So, it’s really just a great opportunity, great timing. And I think just kind of overcoming those challenges along the way. 

WS: Yeah, speak to getting started in the commercial real estate business or RV parks, whatever it may be. But getting started in this space to all obviously, being a busy father, spouse, right? Your desires to serve them so well, right. 

But then you’re also having to serve in the military, you have a GOP, but then getting this going, how did you manage that? What did that look like? And you can be as detailed as you want? I mean, it’s like you’re trying to serve at home, serving the military, man, you got this other thing going on, too. So what did that look like?

AC: Yeah, so it was, and it still is quite chaotic. And I think when we’re getting started those first few months, we’re really just focused on educating myself and learning the language of commercial real estate. And then after that it was talking with investors and scheduling phone calls, but I really had to grow in a lot of ways because some of the habits that I have now and the habits that exist for the business did not necessarily exist prior to getting started. 

And so I kind of had to build those habits into the battle rhythm of the week and of the month. So yeah, it definitely looks chaotic. And I really struggled with continuing to juggle the weekly schedule and kind of trying to figure out the demands of the family. I know dinner times were challenging because part of me is pulled downstairs at the dinner table to help my wife with my sons. 

And then so I feel that tug rates, like why don’t I want to be downstairs to help my wife and I feel that tug to serve my wife up here be right to create that freedom so that I can be more present. So it’s definitely those strong tugs in different directions. And I think the Coast Guard life definitely didn’t make it easier because we had, we had moved from that duty station, we bought that primary residence, and then we moved again, about a year later to another assignment. 

And so I think part of that juggle has really been communicate with my spouse, with my wife, so that she understands why I’m doing this, so that she understands a little bit about what I’m doing. And to get her on board for some of the things that she can help out with. 

But also, I had to step up to at home, like when I’m at home, and when I’m present, on Sundays in the evenings after I’m after I’m done, it’s like, I have to be available and present and ready to be a dad, and during those times changing diapers and that kind of thing. 

WS: So, you had to alter how you operated, right? Or the normal mode of operation. You called it the battle rhythm. I like that. And you said you had to build some habits, what were maybe a couple a few of those habits that you had to create to accomplish this as you move forward, as you’re changing these things in your family?

AC: Yeah, absolutely. I think one of those habits was a big one was time blocking. I didn’t time block that well before getting into commercial real estate. And now I’m almost obsessed with time blocking and scheduling stuff where the calendar, scheduling calls, and a part of time blocking, I feel like within that a big one is going to bed early and getting up early. And just knowing that what is on the calendar, right for the next day, was built into that time for a reason. And so to stay up late or to not wake up on time, it’s kind of a slap in the face to the work that went into planning that time. So it made me really stick to going to sleep and getting up on time. And early, really.

WS: Yeah, I hear so often. You know, it’s like, people who are, they reach goals, or they’re successful… successful in whatever their field is. I mean, it’s like, majority of them not all are up early and have habits like that. They’re diligent about getting in bed and getting up early. And I always talk about that, that was one thing for me as well, and still is trying to be even more diligent now in bed early, up early. 

In the night before I’m trying to think about, I have a journal, and I look through what I need to do the next day. And it helps me to like the next morning, and I’m journaling, again, I’m thinking about important things of that day, or in the morning, but if I don’t get up on time, it is just a slap in the face for me. 

And it hinders almost the rest of my productivity for the rest of the day. And so no doubt, speak to the communication with your spouse. And I know it’s not talked about often. But I also believe it’s so crucial that they’re on board that your spouse is on board with this thing you’re doing right, that they’re supporting you whether if she’s taking care of two children already and probably to a big degree maybe they’re not directly involved in the business. Maybe they are, but speak to that. How did you all figure that out or a communication rhythm?

AC: Yeah, absolutely. I guess first I’ll start off with giving my wife a shout out and she is amazing. She is such a generous spouse and very patient. And so I’m definitely blessed there in that category. And I think when it comes to communication, she is better at communicating than I am. 

And so she she pulls it out of me sometimes, but I’ve feel like I’ve grown over the last year or two, especially when letting her know what the weeks look like what the week after that took my upcoming important events on the calendar that I’d like her to be aware of. And she does the same with me she’ll let me know, when a specific day she needs me. 

And I think continuing to communicate that vision and having those conversations on why we’re doing, what we’re doing has been crucial, I think for us to just continue to persevere and to just keep going. Especially during when times are hard because it gets easy to get going and be motivated together. 

And then once you get going, it can be easy to be tunnel-visioned and into that specific line of effort. And sometimes it can be hard to like take a step out and to have those conversations again. And I think scheduling date nights and time on Sunday really with the family has been crucial for us, for sure.

WS: Scheduling date nights. I just had a guy Jim Sheils on the show. Have you heard of him before?

AC: I don’t think I have yet. No, no. 

WS: Yeah, he wrote a book called The Family Board Meeting. I offered it to actually everybody that was listening when I interviewed him on the show because it helps you do just what you just said. It’s a very simple short book but it lays out a simple rhythm of having that scheduled time with your children ultimately, is what he’s talking about. 

But I tried to help listeners to think about, hey, do this with your spouse as well. Right? Same things apply. So, I love that you were diligent about doing that, right? And then thinking about how you are communicating and that, that she’s on board, and that she understands what’s happening, all those things you moved forward, maybe give us a couple of the half two things to get to that first deal for you. Or maybe what you would tell yourself, if you could go back when you started? 

AC: Yeah, I would say, have two things is the first step is really education, to be able to have conversations with investors, but also operators and lenders, you really have to be able to know the language, know the lingo, and to sound intelligent and sophisticated enough to, to earn the trust of who you are doing business with. 

And so I think that what has been a crucial first step, I think after education, once you feel confident in what you’ve learned, and the knowledge behind commercial real estate, after that, it really it’s really about building relationships completely from my perspective, and talking with partners, asking what other investors are looking for, what kinds of deals they are targeting, what kinds of markets they’re looking for. 

And so I think building relationships with that next crucial piece, and I think will continue to say that crucial piece moving forward. And I think you probably agree with me, and then after building relationships, I would say it’s, it’s persistence. And I’ve heard it said many times that that first deal can be the hardest one to come across. And I think it can be easy to also give up along the way. And so I would say just staying persistent was that next piece.

WS: Yeah, no doubt for me as well, the networking component and meeting people, right did building those relationships, building trust with so many people in the industry was crucial, no doubt about it. Lord opened many doors for me to meet people I never imagined getting to meet or partner with, but I had to get out there and meet and greet. Right? And meet those people. Well, what’s been the best source, Adrian, for you to meet new investors?

AC: I think just being a part of different mastermind groups, those groups and masterminds are such a great way to get to know investors that have similar goals and targets. And that’s been a great way. So far, I think going to local meetups has also been a fun way to meet people in person out of a work environment, but also just locally and casually, just talking with locals and getting to know the community and sharing what what you’re working on and being able to present opportunities through those avenues.

WS: Adrian, what are some of the most important metrics that you track? That could be personally or professionally. It could be deal-specific. It could be your morning routine.

AC: Yeah, I think one of the most important metrics really is just tracking investor calls, or conversations that are not necessarily phone calls, but conversations that have happened each week. 

I think that’s a very good metric to kind of be able to tell, okay, who am I talking to? Who do I need to talk to? Maybe how it was? Or how are these conversations going? How can I adjust or maybe we word certain things. But that’s been one of the top metrics so far is how many conversations have I had this week? 

And not only this week, but then taking that to the next level? Okay, after four or five weeks, how many conversations to have this month? What was realistic with that target? Or do I need to push that target up? And then that’s kind of how I looked at a month-to-month basis moving into the next month?

WS: What are some habits that you are disciplined about that have produced the highest return for you? 

AC: Again, I think it’s going to sleep on time and waking up early, because those two habits really allowed a lot of time for reflection, journaling, planning. So yeah, definitely those two.

WS: It seems so simple, right? But it’s so difficult to get out of bed for some reason so often, right? And I have to remind myself, sometimes some mornings I’m like, if I am not disciplined enough to get out of the bed when my alarm goes off, how do I expect somebody to invest a million dollars with me today? Yes. Like remind myself of that as that alarms going off anyway. What about what’s the number one thing that’s contributed to your success so far?

AC: I would say that that relationship with God and knowing that everything, everything here on Earth is His already and participation in this industry is just participating in his glory in His kingdom. It’s already his and just remembering that fact and having that relationship with him and staying disciplined in prayer, and just gratitude for all his blessings, because we reap so much fruit and definitely would tell anyone that.

WS: Awesome. Well, what about I wanted to give you a moment to talk about this, just to think through this, I always like to ask at the end, you know how people like to give back? Right? And I know you are very focused on impact investing, but maybe you could share what that is, how you all do that in your business, what that looks like?

AC: Yeah, absolutely. So one of the reasons I love this industry in this business is the ability to, to serve and to, to really give back to the community. And I think it’s kind of an inherent right to serve tenants and to serve investors and business partners that are involved. But I think without profits, we’re definitely passionate about serving missionaries who are dedicated to committing to serving students on college campuses and high schools across the country. 

And we’ve partnered with missionaries from FOCUS, which is the Fellowship of Catholic University Students, and then Vagabond missions, who is our inner city high school outreach partner, definitely passionate about the mission to know Jesus Christ. And that’s how we like to get back.

WS: That’s awesome. appreciate you sharing that. That is something I love about this business as well. And I find more and more people like yourself who have that desire to give back and figure out, hey, I can do that even at a bigger scale through commercial real estate in some way and are pursuing that.

AC: Yeah. And Whitney, I think it was really you have to give credit to listen to your podcast and seeing how your business deals like this guy is the real deal, like, definitely a role model for us. Thank you, Whitney.

WS: I appreciate your kind words. And I’m grateful to have you on now and to talk about your success and what’s happened and what you’re pursuing. And well, Adrian, pleasure to meet you, have you on the show, grateful just for your transparency and just sharing. Hey, it’s all just easy, right? 

You know, as far as working with your spouse, and communicating and ensuring that hey, we’re still doing my GOP while I’m still being the father, I want to be in the husband also pursuing real estate at all at the same time, it’s not easy. So most of us have been in those same shoes at some time or another or are maybe dreading those shoes. 

But you gotta do it right. You got to do it so grateful for you to share your story and how can listeners get in touch with you and learn more about you?

AC: Absolutely. So our website is StJosephsCapital.com. That’s S-T-J-O-S-E-P-H-S-C-A-P-I-T-A-L.com. We just produced a Introduction to Passive Real Estate Investing Course that you can access for free. So, definitely a great way to catch up with us. LinkedIn is also another great way in addition to our website.

WS:  Thank you for being with us again today. I hope that you learned a lot from the show. Don’t forget to like and subscribe. I hope you’re telling your friends about The Real Estate Syndication Show and how they can also build wealth in real estate. You can also go to LifeBridgeCapital.com and start investing today.