Millionaire Mindcast How Ruben Izgelov Built a $700M Private Lending Empire in Real Estate | Ruben Izgelov
In this powerhouse episode, Matty A is joined by Ruben Izgelov, co-founder of WeLend, a national private lending firm that has originated over $700 million in loans. Ruben shares how
he went from a humble immigrant upbringing to building one of the most respected and secure lending platforms in the country.
He breaks down the real difference between investing and lending, how his fund has never lost investor capital, and what every real estate operator needs to know about current market risks, political headwinds, and construction cost challenges.
What You’ll Learn:
- Why Ruben shifted from active investor to full-time private lender
- The biggest mistakes flippers make with ARVs and renovation costs
- How WeLend consistently generates 13–16.5% passive returns for investors
- The pros and cons of debt funds vs. real estate syndications
- How policy, politics, and inflation impact deal underwriting
- What macroeconomic trends Ruben is watching in 2025
Timestamps:
00:00 – Introduction to Ruben & WeLend
07:00 – Ruben’s story: from immigrant to entrepreneur
10:00 – Lending vs. investing: safest part of the capital stack
14:30 – Common mistakes with ARVs and renovation budgeting
17:00 – The myth of passive real estate income
20:00 – Policy differences between red and blue states
26:00 – How WeLend has originated $700M without a loss
31:00 – Monthly cash flow and liquidity in debt funds
35:00 – Why Ruben prefers debt funds over syndications
38:00 – Risks from tariffs, labor shortages, and supply
Resources from Ruben Izgelov
- Website: https://www.welendllc.com/
- LinkedIn: https://www.linkedin.com/in/rubenizgelov/
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