RG 177 – How to Create a 7-Figure Real Estate Business from Nothing with Raphael Vargas
Raphael is a real estate entrepreneur and he is founder and CEP of the multimillion dollar real estate company Aste Equity Pros. Raphael is 25 years old and when he completed his first wholesale he made $30K, then three years later he developed his 7 figure business. The business closes on expensive properties in the most competitive places in the US and he’s currently on tack to hit $10mil in revenue in 2019. Raphael made his first dollar selling Pokemon cards at school.
Raphael started his journey when he was 20 and his family was going through financial struggles. He saw that his mother was working several jobs and doing night college to support the family and his disabled brother. Raphael had a hard upbringing and was kicked out of highschool, he didn’t go to college and found himself working a dead end job for $13/hour. While doing this job he heard about real estate wholesaling which can be done without cash or credit and he went all in. It was a difficult start and took a while to find his first deal. While he was working in the dental office a man came in to spend $20K on veneers and Raphael asked how he could afford it so the man said pay me $3K and i’ll teach you everything. Unfortunately the man took the money and ran.
This knock taught Raphael resourcefulness and how to make something from nothing. He used YouTube and Google to teach himself and got his first contract through Google and his first deal came 9 months later. Things don’t have to be perfect at first but you need to jump straight in. In his second year he made $300,000 and in his third he made over a million. He made the same in his fourth year so he realised he needed to build a team to scale. He made sure that everyone he hired was cleverer than him and he got comfortable being uncomfortable.
Raphael’s core business model is finding motivated sellers of single family assets by marketing directly to them across 8 states. They call into the office and a sales rep will evaluate the property and make an offer over the phone. They send contracts via DocuSign and then the sales team take that contract and sell it to another investor for more money. They never close on a property so there are no fees. 25 invested leads normally equates to one signed contract.
- Most important habit – Writing goals down each day
- Most influential person – Ray Lewis
- Most important tool – MLS
- Contact – realraphaelvargas