BiggerPockets Money Podcast 60: Rejecting a Scarcity Mindset and Going All-In on Apartment Investing with Gino Barbaro

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Gino Barbaro was a chef, working hard every day. He made good money and had no debt, but never seemed to be able to save more than 10%. He started dabbling in real estate investing, and after closing his fourth deal worth $11 million, he decided he wanted to leave the restaurant business for good.

He retired from his restaurant two years ago. While he could have lived off the passive income from it, he wanted to focus on his passion—real estate. After 25 years in the restaurant business, he had created just one restaurant, but in five years of real estate investing, he’s accumulated more than 1,000 units.

Gino shares how his net worth has increased AFTER retirement—and has no plans to slow down. If you’re thinking big or want to be inspired to think big, Gino’s story is a can’t-miss episode. Click here to listen on iTunes.

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In This Episode We Cover:

  • Gino’s journey with money
  • What his money blueprint is
  • Property he has in New York that has $27,000 in property taxes
  • The reason they moved from New York
  • What he learned from life coaching school
  • Changes he made after he went on to become a life coach
  • His “why”
  • How he felt after he quit his job and bought his first property
  • Tips for financing a first deal
  • How he started his financial freedom journey with a minimalist mindset
  • The advantages of having a partner or mentor
  • What financial freedom is for him
  • Advice for budgeting
  • Tips for allocating and creating a financial freedom account
  • The importance of having an emergency fund
  • How reading books helped him
  • How he’s taught his children about delayed gratification
  • His formal plan when it comes to setting goals
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “You need to save—not saving for the sake of saving. It is not a good thing. Saving for the sake of buying assets is what you need to do.” (Tweet This!)
  • “Don’t stop there. Continue to expand. Live with an abundance mindset.” (Tweet This!)
  • “It’s not really luck. It’s taking advantage of what’s going on. And hard work equates to luck.” (Tweet This!)
  • “Man does not attract what he wants. He attracts what he is.” (Tweet This!)
  • “Work hard for assets, work hard for knowledge. Don’t work hard for money.” (Tweet This!)

Connect with Gino

About Author

The BiggerPockets Money Podcast is for anyone who has money… or want to have more! Join BiggerPockets Community Manager Mindy Jensen and Director of Operations Scott Trench weekly for the BiggerPockets Money Podcast! Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow your wealth. You'll get tips for getting your financial house in order and actionable advice from guests who have been in your shoes - and found their way out.

1 Comment

  1. Zac Lester

    Great ep! Particularly loved Gino’s quote “You need to save—not saving for the sake of saving. It is not a good thing. Saving for the sake of buying assets is what you need to do.” I’d add “CASH FLOWING assets” but this is the top quote I took away from the interview.

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