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Gino and I dive into what it takes to become a master player in the multi family game. We go into detail on topics such as: what mistakes beginner investors make, why you want to start investing, property management techniques, hiring staff, how to get a headstart and much more. This episode is PACKED full of incredible learnings from one of the investing legends. Don’t miss it!
Gino Barbaro is an investor, business owner, author and entrepreneur. He has grown his real estate portfolio to over 1400 multifamily units. He is the co-founder of Jake & Gino, a multifamily real estate education company that offers coaching and training in real estate founded upon their proprietary framework of Buy Right, Manage Right & Finance Right.
He is the best-selling author of two books, Wheelbarrow Profits and Family, Food and the Friars, and graduated from IPEC (Institute for Professional Excellence in Coaching) where he earned his designation as a Certified Professional Coach. He currently resides in St. Augustine, Florida with his beautiful wife Julia and their six children.
KEY TAKEAWAYS
1. You have to look at everything from the investor's mindset. That means utilizing leverage, liquidity and control.
2. Start with the "Why?". If you have reasons and clarity they will reap rewards.
3. When you're managing a property you need to be in constant contact with the management company. Weekly calls and "pulse" emails containing KPIs.
4. Every property should have it's own management budget.
5. What are your core values? Use these when hiring staff, using vendors and working with partners.
6. You need to know the market. Know the expenses, taxes and operating costs.
7. Speak with community bankers and property managers to learn about the market and gain knowledge on the market and costs.
8. It's a "people business". Tenants leave due to bad customer service and bad landlords... not rent increases.
9. Turn into that fear and head into it, despite having it.
10. Challenge your limiting beliefs.
BOOKS
Limitless by Jim Quick - https://www.limitlessbook.com/
The Go-Giver by Bob Burg - https://www.amazon.com/Go-Giver-Expanded-Little-Powerful-Business/dp/1591848288
Never Lose a Customer Again by Joey Coleman - https://www.amazon.com/Never-Lose-Customer-Again-Lifelong/dp/0735220034
Think and Grow Rich by Napoleon Hill - https://www.amazon.com/Think-Grow-Rich-Napoleon-Hill/dp/0449214923
Honeybee by Jake and Gino - https://jakeandgino.com/honeybee/
LINKS
