Are you someone who tends to move too fast that you often get distracted with your current pursuit? Maybe you’re caught up with what they call the “shiny object syndrome”. It’s never too late to settle on a niche and ask yourself what you really want to achieve and find ways to reach it.
Learn how to shape your mindset on property investing with today’s guest, Gino Barbaro, as he shares the tips and strategies on how to invest, where to invest, and how you can surround yourself with people that will help you scale up in your business and build your relationship with them.
Gino is an investor, business owner, author, entrepreneur and half of the Jake & Gino brand. Jake & Gino is a multifamily real estate education company that offers coaching and training in real estate founded upon their proprietary framework of Buy Right, Manage Right & Finance Right. Gino has already grown his real estate portfolio to over 1400 multifamily units.
Here’s What You Missed
Having a work-life balance
- “If you love your work, you’re going to come home and you going to be present with your kids. If you hate your job, nine to five, you’re going to come home. You’re going to be pissed off. You’re not going to really enjoy your family.” (05:53)
- “So work hard, love what you do. And don’t worry about work-life balance, because if you like your job, you love what you’re doing it’ll be easy to balance at home.” (06:03)
Considerations on where to invest
- “Anyone listening to it, when you’re looking for areas to invest markets, look at what’s going on with the politics, because they’re passing these laws and they’re restricting freedoms basically where you are in the middle of the country.” (10:52)
- “So just be careful when you’re looking at real estate at the market itself and what’s going on. Is it business friendly? Is it tax friendly? And where’s the migration? Where’s the flow of money going?” (11:53)
Ways of getting into real estate
- “The first thing you need to do is you need to learn how to speak the lingo. You need to look professional.” (17:56)
- “So find a mentor or pay, like I did. I paid tons of thousands of dollars for my education. Pay for it. Make yourself look intelligent.” (18:09)
- “There’s so many ways to get into multi-family real estate. Money’s not one of them.” (18:38)
What to look into if you want to invest
- “So for anybody looking to invest outside of the market, they need to focus on one or two markets at the most, especially when you first start out, because you’re going to need to create broker relationships.” (21:39)
- “But you also need to know a lot of the metrics. There’s a real estate perspective. You need to know what job growth is, what unemployment is, what the population growth is, the number of employers, of the absorption delivery of apartments, the affordability of apartments, what rents are opposed to mortgages.” (22:19)
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Reaching out to brokers and building rapport
- “The most of the majority of the deals, especially in this market right now are coming in from brokers.” (27:48)
- “You need to show that you’re serious and need to get back to them.” (28:38)
- “But when we build a relationship and you know I’m serious and you see now what I’m talking about, and I’ve got an investor base and I’ve got stuff done, you’re going to take me more seriously.” (29:03)
Having a community that will help you scale up
- “Meet people that are really successful and mirror them, ask them questions and really part of their community and grow.” (33:27)
- “Identifying is that you’re going to become really successful. But if you can’t identify as wanting to do those steps, you’ll never get into that space or whatever space you want to.” (34:04)
Partnering up and getting deals
- “…it’s not really about the money. It’s about your skillset and about your ability to create value for those investors.” (36:31)
- “You start your credibility book and you start, you commit and then you figure it out. It’s all about getting to that first deal, learning how to manage it.” (37:57)
Becoming clear on what you want to achieve
- “If you’re not clear on what you want to do and where you want to go, that inner voice is gonna be even more of a chatterbox to you.” (42:03)
- “We’re on this planet to help other people out and to achieve and to inspire.” (42:23)
- “Once you can start figuring out what your soul purpose is and it’s different for everybody else, but ultimately it comes down to contribution when you want to really be fulfilled in life.” (42:40)
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Quotes and Advice from our host and guest:
- “You can control what’s going into your mind and who you’re surrounding yourself with.” – Gino (04:47)
- “A man with money meets a man’s experience, the man with experience gets the money and the man with the money gets the experience.” – Gino (12:45)
- “It’s pay to play or seek to serve.” – Josh (17:31)
- “It’s not just about the real estate numbers. It’s about the ability for you to get to that market.” – Gino (22:59)
- “Your success is dependent upon the expectation of your peer group.” – Tony Robbins (31:59)
- “Once you lock something in, you want to continue to progress with that. How do you continue to progress? How do you put it into your body and actually continue forward with the actions that you need to take?” – Gino (38:42)