It’s no secret that the rich are getting richer. The secret here? Not all of them started out like that! In fact, many millionaires began their fortunes by focusing on one area, a niche, until they became experts and were able to build up cash flow from there before diversifying more broadly across various industries or markets.
In this episode, join Jen Du Plessis as she speaks with Wesley Yates, a Marine Veteran who Co-Founded VFR Capital Investments, a multifamily syndication company. Wesley shares with us the importance of finding your niche in business.
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Finding Your Niche in Business with Wesley Yates
Hey, everyone. Welcome back to mortgage lending mastery. I am so excited for our episode today. You know, a lot of times I bring on real estate investors, uh, you know, commercial, residential, all kinds of opportunities, because I want you to understand, um, that mortgage lending is not just residential and sort of take those blinders off.
Um, real estate is not just residential. I want you to consider taking those blinders off as a. State agent and be a real estate agent for all kinds of real estate. And I think that this is most important so that you have some type of income or wealth that you’re creating for yourself above and beyond your, um, current line of work.
So that’s why we bring this in. I want you to understand, you know, all aspects of lending and real estate. So with that said, our guest today is Wesley Yates. He is a Texas guy. Coming to us from Texas. You’ll hear that in his voice here in just a minute. But most importantly, he is a former, no, you can never form a right.
He was in the Marine Corps. OI. Right. um, and so we wanna thank you, first of all, Wesley, for your, um, service to our country, it is a big sacrifice that you make and your family makes as well. And, and we know that because I’m originally from Colorado Springs, Colorado, where it’s just latent with military people.
So we. We definitely understand that. And we have that in our family as well. So we wanna welcome you to the show.
Well, thank you, Jen. I appreciate it.
Yeah. Ma I’m uh, happy to have this conversation with you. I love the path that everyone is taking, especially, you know, when it comes to multi-family and commercial.
And I know you do beyond just multi-family, but let’s talk a little bit about, um, I wanna know your background here in just a few minutes, but I wanna talk about. Uh, why you felt or feel even today, um, that this is such a powerful, uh, avenue or path or roadmap for creating wealth in a more, I guess passive way, cuz I know you’re active, but there are others that are involved in the syndications that are passive.
Yeah. So, you know, with, with that right there, I didn’t come from a, a rich background, you know, hard work in blue collar, you know, Marine Corps, all that. And, um, so I took advantage of the syndication strategy, um, you know, mainly using other people’s money, as well as building an experience team to, to build my wealth.
Now, of course, I want to get on the passive side. There is, uh, you know, some minor passive opportunities that, you know, I’m looking into myself, but, um, you know, that’s really the, the strategy that I chose to, to accumulate, you know, my portfolio to build my wealth. And, and then as we sell out of those, you know, taking the profits and my plan is to either you.
Invest into something more passive, um, so that I can sit back and have, you know, I’m working on something, but I also got other people working for my money too. Um, you know, just to build multiple streams of income, as well as, you know, uh, growing my equity and leveraging my equity, leveraging my skill set to, to just continue to stack everything on top of each other.
So, um, Yeah. There’s a lot of different things that I dabble in now, but it’s because I want to, to D to diversify along while I’m building, you know, a stable wealth portfolio.
Yeah. Yeah. And I, and I totally get that. I call that mailbox income. Right. Yeah. Just wanna go to the mailbox, although we could call it inbox income now.
Yeah, right. But, uh, so tell us a little bit about your particular practice. You know, you are, uh, you know, in Texas, uh you’ve um, you know, you, uh, have a bachelor’s degree , a business administration. You have a concentration in finance from the university of Texas, and I know that you have a. Capital investments company.
What is your, um, specific niche in this realm?
Yeah. So I started off in a niche. Um, I really did, um, and where I started to really get my foot in the door. Uh, keep in mind. It took me a while. Let me back up to say that it took me a good 18 months to find my niche. I mean, and I tried with several different teams, several different roles.
and then a few different industries. You know, I went from, uh, whole selling to, uh, multi-family syndication, to hospitality, syndication, to development of hospitality, to back to, you know, to over, to being a fund manager. And then finally step back to just doing multi-family syndication and building my own team around me.
So it took me a good 18 months before I really even started seeing success and found. Found my niche. Yeah. Uh, so where I finally found that niche was in very extreme value, add, uh, apartments. Yeah. Was my niche that got me into the, into the, I guess you could say into the, uh, the industry here.
Yeah. It’s interesting.
Um, you know, I’m, I’m kind of giggling about this because you said, you know, it just took me a good time at 18 months, right. There were people. That are listening to this podcast that have been in the industry for 20, 25, 30 years and still don’t have their niche to fight important. Do you feel having, you brought this up important, do you feel it is to have a niche?
Oh, it’s, it’s very important. You know, they, they say there’s a misconception amongst the millionaire and the true wealthy, and they say, oh, they have like seven sources of income and they’re diversifying. But if you really study how they got started, they started off with one niche. Yeah. They started with one niche, they built their, they built their cash flow.
They built their wealth from one niche. And then from their profits, they divers. Yeah. So you can’t go in seven different directions at the same time. I’ve tried. It doesn’t work.
I did too. I, I get that. Yeah.
Yeah. So a niche is very important and you’re not gonna be right the first time. If you somehow, if you’re like, no, I was right the first time then congratulations.
You’re one of the lucky ones. Um, you know, I’ve been doing this for three years now and like I said, it took the first half just figuring out what was right. I tried this, I tried that, but once I found that I didn’t have to do everything, I didn’t have to know everything. I just had to figure out moreso, back on,
who am I? What am I good at? What is your I bring? Yes. Yeah. And then what do I bring to the table with that? And then go, okay, this is my, these are my strengths. Yeah. But to do what I wanna do, you know, you, you’re gonna have to cover your weaknesses as well.
Listen to the Full Episode HERE
Get to know Wesley Yates!
Wesley Yates , is a proud Marine Veteran with over nine
years of active-duty service that brings a strategic outlook and
goal-oriented mindset to the team.
Wesley has mentored and trained over 2,000 individuals for
leadership and development roles. He was recognized in 2013 by Congressman Ralph Hall for his outstanding character and service to his community. He has a Bachelor’s degree in Business Administration with a concentration in Finance from the University of Texas at Tyler.
Wesley co-founded VFR Capital Investments, a multifamily syndication company, owned and operated by a team of Veterans and First Responders. Over the past 15 months Wesley has led his team in growing their portfolio from 0 to 862 units estimated at $70.2MM in assets under management.
Connect with Wesley
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