EP 05: When to Take The Leap Into Real Estate and What to Do When You Get There with Gino Barbaro
Our guest today is Gino Barbaro, Co-founder of Jake & Gino. Gino spent 25 years as a restaurant owner before exiting the rat race to pursue a full-time real estate career in 2016. With a wife and six kids in home-school, life and real-estate simply had to roll into one for him, and what started out as a conversation between Gino, the “pizza guy,” and a pharmaceuticals rep, Jake Stenziano, exploded into Jake & Gino’s, the thriving real estate investment business you know today. Gino is also an IPEC graduate, a Certified Professional Coach, and has currently invested in over 1400 multi-family units.
In this episode, we hear Gino’s story; how he took the leap from pizza to property, how he decided where to settle with his big family, and how multi-family has given him a freedom like no other. Gino also gives us the inside scoop on markets in places like Knoxville and Jacksonville, and why New York properties are just not as hot as you think they are. We also discuss the importance of remaining open-minded in the real estate industry and why you should constantly be working to educate yourself in this fast-paced environment. By the end of this episode, you’ll be better equipped with new strategies and tools to accomplish your deals and goals as a family-focused entrepreneur.
Key Points from This Episode:
How moving toward multi-family can improve your quality of life and give you more freedom.
Why you don’t have to quit your day job to make a start in multi-family… not yet anyway.
The shifts in rent growth in Knoxville versus the shifts in rent growth in Jacksonville.
You don’t just wake up with knowledge: The importance of doing your market homework.
Why it makes absolutely no sense spending a fortune to own property in New York today.
The importance of always being open-minded to partnerships and joint ventures.
The problem with people in New York is that they never calculate their return on equity.
Succeeding in the great balancing act of taking care of investors, partners, and tenants.
Knowing who your investors are and what they want is more important than anything else.
Find out why the real money is in investing in your deal and being the GP.
Waiting for deals to go full circle: Accepting that real estate is not a sprint but a marathon.
And much more!
“When it’s time to close the deal, don’t be going on vacation.” — @JakeandGino [0:02:02]
“It’s not about you, it’s about the person on the other side. Once you make that mind-shift, stuff will start flowing to you” — @JakeandGino [0:02:48]
“You don’t have to quit your job right away and go into multi-family right away. You can take baby steps.” — @JakeandGino [0:06:49]
Links Mentioned in Today’s Episode:
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