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Off Market Deal with Jake and Gino

In this episode Jake and Gino talk chicken recipes, partnerships, struggling with their first deal, and how to interact with brokers and banks.

There has been a big shift in the market. In 2021 and 2022 brokers could send out deals online and get tons of offers. This part of the market cycle dictates that brokers be pro-active in finding investors. Interest rates are up and demand is plummeting but J&G believe that in these market conditions there are more opportunities for value add investors. The two talk about buying their first deals and how by scrutinizing the process they came to create and rely on their 3 pillar framework (Buy Right, Finance Right, and Manage Right). As well as identifying what Jake refers to as their “Avatar,” an operator profile they have identified which offers the best value when purchasing real estate. They take us through the first two pillars (Buy Right and Finance Right) and how they applied these to their newest 128 unit acquisition, along with applying the “SPY technique” when in negotiations for the property allowing them to walk away with the best possible deal.

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Key Insights:
00:00 – Intro
00:34 – Opening
03:00 – Jake’s Chicken
05:07 – The Inception of Jake & Gino
07:10 – A Rough Start In Tennessee
10:24 – The Secret Sauce – The 3 Pillars and the Avatar
12:25 – Applying the 3 pillars to Their New Deal – Buy Right
15:36 – The Market Cycle and Buying Right
18:34 – Finance Right
20:45 – The S.P.Y. Technique and Negotiations
23:24 – How To Learn More
24:18 – Wrap Up

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About Jake & Gino

Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate.

Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/

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