
The Wealth Clock Podcast — Real Estate, Passive Income, and Wealth Strategies with Steven Weinstock
Sold Homes for Others, Now Owns Nearly 1,000 Apartment Units | EP50 | Luis Frias
Luis Frias sold houses for other people. Then he stopped, and started buying multifamily property instead. In this episode of The Wealth Clock, Steven Weinstock sits down with Luis Frias, Founder and Principal of CalTex Capital Group in San Antonio, Texas. Luis started in real estate in 2015 as an agent working alongside his mother's team, moved into commercial brokerage almost by accident after a fifteen minute property tour turned into a signed deal, and spent years brokering multifamily transactions before founding CalTex Capital Group in 2019. He didn't close his first acquisition until 2022, three years later, because he refused to overpay in a red hot, cheap debt market while other buyers kept bidding. Since then he has scaled to nearly 1,000 units across five apartment communities in Texas, plus a separate debt fund spread across seventeen more properties in San Antonio, Austin, and Houston. In 2025, Luis was named Independent Rental Owner of the Year, and he now serves as the 2026 Education Chair for the San Antonio Apartment Association. He explains what he thinks earned him that recognition, and why he believes operations, not renovations, are what actually separate winning multifamily deals from the rest. Steven and Luis cover: - Why Luis walked away from 3 years of a hot, cheap debt market instead of overpaying for his first deal - What life before real estate looked like, from a mailroom job to JROTC to playing long snapper in college - What actually happens on a multifamily acquisition team, from sourcing through closing - How passive investors get exposure to multifamily real estate without dealing with the toilets, the tenants, and the termites - The "one, two, three punch" of multifamily returns: cash flow, depreciation from a cost segregation study, and profit from a sale or refinance - Why a 6 percent cash on cash return can beat a 9 percent bank return once depreciation and appreciation are factored in - Why Luis believes operations, not renovations, are what actually drive returns - How Luis's property outperformed the San Antonio metro average occupancy in a market posting negative rent growth - What earned Luis Independent Rental Owner of the Year in 2025 Connect with Luis Frias: Website: www.caltexcapitalgroup.com LinkedIn: https://www.linkedin.com/in/friasluis/ Facebook: https://www.facebook.com/luis.frias.315 Email: luis@caltexcapitalgroup.com The Wealth Clock Podcast with Steven Weinstock brings you real conversations with top real estate operators, fund managers, and business founders who share exactly how they build wealth, raise capital, and create passive income. For nearly 25 years, Steven has been investing in real estate, from single family homes to large multifamily properties, and now manages multiple investment funds including WE Capital, the Goethals Capital Fund, and the WE Capital Mortgage Fund. If you are an accredited or non accredited investor looking for passive income through real estate backed debt, learn more about the WE Capital Mortgage Fund. And if you own rental property and want to turn your bulk cable and internet agreements into recurring revenue, check out CableNOI at cablenoi.com. Subscribe to The Wealth Clock for new episodes with real estate investors, fund managers, and business founders who are actually doing it. multifamily real estate investing, passive income real estate, real estate syndication, San Antonio real estate investor, value add multifamily, real estate agent to investor, commercial real estate broker, apartment syndication, real estate fund manager, cost segregation, DSCR loan, limited partner vs general partner, property management San Antonio, San Antonio Apartment Association, CalTex Capital Group, Luis Frias, real estate investing podcast






