MB 052: Decide and Your Real Estate Success Will Follow (With Gino Barbaro)

Gino Barbaro is passionate about multifamily investing, and he believes it’s about the strength of your WHY that determines your success. You must DECIDE you want to change your life, and if you do, you have no choice but to take massive action. That’s what he did several years ago. Gino was in the restaurant business for 22 years, and he was burned out. He decided he needed to change his life, and he chose real estate to do it. In this episode, he chronicles his amazing journey from pizza guy to full time multifamily investor. Despite setbacks, a bad partnership and an all consuming day job at the restaurant, he and his partner Jake did their first deal, a 25-unit in Knoxville TN. Today they own nearly 700 units and the sky’s the limit. Together with Jake, he created Jake and Gino.com, a real estate educational company that offers coaching and training in real estate investing. He is the best selling author of the book “Wheelbarrow Profits”. Listen and be inspired by Gino’s story. Decide and Your Real Estate Success Will Follow. About Gino Barbaro Gino Barbaro is an investor, business owner and entrepreneur. He has been investing in real estate for 15 years and has grown his multifamily portfolio to 674 units in 3 years. He has teamed up with Jake Stenziano to create Jake and Gino.com, a real estate educational company that offers coaching and training in real estate investing. He is the best-selling author of “Wheelbarrow Profits”. Visit Wheelbarrow Profits Tutorial, an educational product focused on multifamily investing. Gino is a graduate of IPEC (Institute for Professional Excellence in Coaching) and is a Certified Professional Coach. He is also the author of the best-selling cookbook "Family Food and the Friars". He currently resides in New York with his beautiful wife Julia and their six children Gabriella, Michael, Sofia, Veronica, Cecilia and Laura. To learn more about Gino visit his website Jake & Gino or Gino Barbaro Key Takeaways [2:19] Gino’s background in the restaurant industry [3:54] The two types of motivation Moving towards pleasure or away from pain [5:00]- Gino’s rough start in real estate investing No focus on a specific niche or market Mobile home park failure [7:18] Why there’s no such thing as a mistake [8:41] Why Gino decided to invest in apartments Didn’t want to rehab and flip properties Less work than single family investing Single family investing in the NY market didn’t work well [12:44] The benefits of a partnership Formed a partnership with Jake Stenziano in 2010 Your partner can help you see something you don’t see Two minds better than one Stronger balance sheet [14:15] Gino’s and Jake’s first deal Invested in an “Emerging Market” Property was listed for 750K Purchased for 500K Value added buy - Lots of little things that added up [19:45] Why it’s a good idea to self-manage your first deal [24:23] Why you should explain your offer to the seller [28:12] What’s next for Gino Syndication [29:29] Gino’s lightbulb moment Realized he was wasting his time on mundane tasks Left the restaurant industry [35:00] Gino’s advice to a new investor Find your reasons why Focus on a market, get educated [37:23] Why people want things but don’t act Lack of a burning desire Burning desire will lead to massive action Example of Gino’s dad and the day he stopped smoking [43:18] Favorite books The One Thing Rich Dad Poor Dad Connect with Jeno: <a href="http://jakeandgino.com/"...