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”.

Check Out Michael Blank’s Site

Key Takeaways
[2:19] Gino’s background in the restaurant industry

[5:00] Gino’s rough start in real estate investing

No focus on a specific niche or market
Mobile home park failure

[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

WHEELBARROW PROFITS, By Jake & Gino 

How to Create Passive Income, Build Wealth and Take Control of Your Financial

Future with Multifamily Real Estate Investing

x