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Most people think about a better life, no matter how good they have it. At the core of these hopes is usually something related to money. They picture themselves living more comfortably, not stressing over credit card bills, the mortgage, or student loan debts, maybe going on vacation and getting to spend more time with their families.
Financial freedom is what they’re wishing for. Most people don’t believe it’s attainable on their own, but rather something that has to be handed to them by way of luck, or through an exclusive opportunity. They think wealth can’t be earned in today’s economy, that the fantasy of being comfortable or getting ahead is just that: a dream. And as far as luck goes, they may be at least partially right.
Gino Barbaro graduated from Fairfield University in 1992 with a degree in finance, and subsequently struggled to locate a job in the terrible economy. He was fortunate to locate employment with AIG, though it was only through a bit of lucky networking that he was able to do so. He worked in the reinsurance accounting department, and quickly realized that watching paint dry was more pleasurable than working in insurance. Gino’s father owned a restaurant where Gino had worked since he was eight years old and he returned there, rather than languish in a cubicle.
Gino still runs the restaurant to this day, but he realized years ago that, while running the restaurant was a great job, it would not allow him to accumulate wealth. That dream of financial freedom was ever present, but it seemed like it would always be just out of reach.
In addition to the restaurant, Gino’s parents had also owned a number of investment properties, something which intrigued him. Following their example, he purchased his first multi-family property in 2002. The property consisted of a three-family home with a detached garage and office. The home was next to the restaurant and he could use one of the garages to store supplies and merchandise for the restaurant. The problem was, he wasn’t quite sure what to do next. He began studying, learning more about the real estate industry and waiting for the right opportunity to come around.
Meanwhile, Jake Stenziano was working in sales for a top three pharmaceutical and vaccine manufacturer. The job paid well enough, and helped he and his wife get by, but as with most jobs in that field it would never be enough for them to truly be comfortable. In trying to get ahead and make those dreams of financial freedom slightly more attainable, Jake pushed for a transfer from Westchester, New York to Tennessee, where the cost of living was lower.
At the same time, he knew that his career was far from secure no matter where he went. The pharmaceutical company he was working for had six layoffs in eight years, resulting in thousands of lost jobs. Feeling like it was only a matter of time before his number was called, Jake began thinking about how he might secure a future for himself where he wasn’t at the mercy of a corporate axe.
The one solution that stuck out to him came from one of his clients, a doctor he met with frequently through work. The doctor told Jake that the secret to attaining wealth had nothing to do with finding a great job or getting lucky. The secret was in real estate. It was an attractive idea, but Jake knew nothing about the market. He began doing some research, and resolved to see if he could find property in Tennessee to begin his investment portfolio.
What he found was that, much as the cost of living was lower there, so too was the cost of investing in properties. What’s more, he identified a potentially lucrative market that seemed virtually unnoticed by the investors in the area: multifamily properties. Jake realized that these were self-sustaining, in that they could literally pay for themselves, and that there would always be a need for these apartment and condo complexes. It seemed too good to be true. He was moving someplace where he could live more comfortably and, potentially, start experimenting in real estate. Still, he wasn’t totally comfortable with the idea of risking so much, and he too found himself debating what to do next.
Jake happened to frequent Gino’s restaurant, as he was friends with Gino’s brother Marco. On one of his last trips in before moving, he found himself at a table talking to Marco about his plans. It turned out that Marco had begun investing in real estate with Gino.
“Yeah, you should talk to my brother about that,” Marco said. “He knows all about it.”
Marco wasn’t kidding. Gino had come a long way from a guy who didn’t know what to do with his first multifamily property. When Gino and Jake sat down, they instantly found that they had the same goals. What’s more, Jake had the perfect opportunity for them in multifamily real estate, and Gino knew the ins and outs of the business already. With Jake on location in Tennessee and Gino ready to share everything he knew about investing in real estate, they founded their partnership right there and never looked back.
Financial freedom isn’t just a dream, it’s something everyone can find for themselves. While you’ll be responsible for finding the properties, within these pages you’ll discover not only tips and best practices for uncovering that first opportunity, but a framework that will allow you to grow your portfolio from a single property to multiple revenue generating investments.
Today, what started out as a conversation between friends has exploded into a thriving real estate investment business that continues to grow in size and profitability. Jake and Gino both are now considered experts in real estate investment and have achieved, in just a few years, the sort of financial freedom they always wanted but weren’t sure was possible. And while a certain amount of timing, coincidence, and luck brought them together, this website will be your partner, bringing that same luck, and years of experience, right to you every step of the way.
Chairman, Clayton Bank and Trust
MULTIFAMILY MASTERY LIVE
Join Jake and Gino, along with 34 speakers and more than 100 successful Multi Family Investors for a weekend of non-stop learning, networking and ... Making It Happen!
NOVEMBER 11 & 12