E128: Avoiding Beginner Mistakes & Mastering Multifamily – Gino Barbaro
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.
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!
- You have to look at everything from the investor’s mindset. That means utilizing leverage, liquidity and control.
- Start with the “Why?”. If you have reasons and clarity they will reap rewards.
- When you’re managing a property you need to be in constant contact with the management company. Weekly calls and “pulse” emails containing KPIs.
- Every property should have it’s own management budget.
- What are your core values? Use these when hiring staff, using vendors and working with partners.
- You need to know the market. Know the expenses, taxes and operating costs.
- Speak with community bankers and property managers to learn about the market and gain knowledge on the market and costs.
- It’s a “people business”. Tenants leave due to bad customer service and bad landlords… not rent increases.
- Turn into that fear and head into it, despite having it.
- Challenge your limiting beliefs.
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/
Read the Transcript Here