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”.
No focus on a specific niche or market
Mobile home park failure
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
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
Invested in an “Emerging Market”
Property was listed for 750K
Purchased for 500K
Value added buy – Lots of little things that added up
Syndication[29:29] Gino’s lightbulb moment
Realized he was wasting his time on mundane tasks
Left the restaurant industry
Find your reasons why
Focus on a market, get educated
Lack of a burning desire
Burning desire will lead to massive action
Example of Gino’s dad and the day he stopped smoking
The One Thing
Rich Dad Poor Dad