All Forum Posts by: Gino Barbaro

@Solomon Nguyen

Brosef, I would stay in my backyard and if you're considering property management, then I would definitely invest in my backyard. You can have control and build a business, and learn hands on. If you want to help your parents, that is great, but don't look at it as an investment, maybe an investment in the family, but not an investment for an ROI.

You can always move to another market and start a property management company. The question you should ask yourself is Where do I see myself living and raising a family, and that's where you move or stay.

Congrats

Gino

@Seth Smith

Is that in place tenant credit worthy and strong? I would look at real comps, and if your exit strategy is to flip in a few years, it may be a problem if you paid more than the market will give you.

If you're looking to hold and are comfortable with the tenant, then I would consider it

Gino

@Fernando Guzman

First thing is to pick an investment and stick with it.  If you're negative can flowing property is going to appreciate, then it may make sense to hold on.

A loss is still a loss, and I would not hold onto a deal because I'm getting a write-off. That 1000 can turn much bigger with vacancy and unexpected repairs. I would not want to run a business and lose money every month.

You have to sit down with a business/life coach and figure out what you want real estate to accomplish, how is it going to fitinot your life. If you don't have that figured out and your relationship with money, moving money around is not going to solve anything. Clarity will set you free.

Gino

@Sean Graham

It's not where you start, but where you grow to!

Congrats!

Gino

@Jill Hutson

three reasons why apartments don't rent: Condition, Price, and Marketing, and a fourth can be the leasing agent, although I would tend to lump that into marketing.

If the house is in good shape, and you're on all the platforms marketing it, then it's a function of price.

There has been an oversupply of new inventory coming on line in many markets, and that's why rents have dropped in a lot of the metros.

Unfortunately, it appears you have a pricing issue and you may have to start reducing the price, or throwing in some type of  concession

Good luck

Gino

@Daniel Afonso

That is a difficult question to answer. Depends upon if you're going it alone, what type of deals are you targeting, do you have someone who can qualify for debt, are you going to keep your job while investing in real estate, how long can you go before taking a paycheck from the business.

These are just some of the questions you need to answer. If you DM me, I'll send you a book we wrote to answer your question more in depth

Gino

Don't believe the hype and misinformation out there.

This is the fourth deal we've closed this year.

1. There still are fantastic deals and more will be hitting the market

2. You need to go big in multifamily to make money

3. It may be challenging right now, but the cycle is shifting

4. Get out there and network with all the brokers in your market

I would love to hear what some of the hype you're all hearing out there. Please share below or DM me.

Here are the details:

• 33 Units, $4.5 Million.
• A 2008 build with a mix of 2 & 3-bed Townhomes.
• This checked all of our Buy Right Criteria©. Great median income, unit mix, age, and location.
• Financing:
• Credit Union --> 80% Ltc, 25 Yr. AM, 1 Yr I/O
• Self Funded

It was sourced from a broker relationship. This is the fourth deal with this broker just this year!

We closed on a four plex in April, followed by a 62 and 67 unit with the same agent.

Why is this “small” 33 unit life changing?

Purchase price is 4.5 million. Appraisal for post renovation is 5.5 million.

1 million equity for one deal and around 9,000 per month in cash flow once stabilized is life changing to me, along with the cost segregation.

You can make money in real estate in so many ways, whether you're @Jay Hinrichs funding deals and developing, or @Brian Burke syndicating, or wholesaling, buying single family homes, fixing and flipping, short term rentals, etc.

The key is to pick you vehicle and master it.

I would be remiss to say that I believe multifamily is the holy grail of real estate investing. But I didn't start with a 100 unit. I started with a tri plex, met Jake and then started buying larger deals.

The key is to treat real estate as a business. At Jake & Gino, I say we are creating multifamily entrepreneurs!

All to say behaviors are belief driven. If you believe the hype and there are no deals and you need to go big, then your actions will mirror your beliefs.

If you think you can close a 6 unit, then you eventually close it, and then move on to a larger deal.

Be prepared for the opportunities that are about to hit the market!

All the best,

Gino

@LeeAnn Owens

DM me and send me your email address

Gino

@LeeAnn Owens

I think the first thing you need to do is to find land. If you can buy the land in cash, then you can go to a bank and fund the construction with a loan. But you need to start finding team members, such as your contractor, broker.

I can connect you with a community bank in Knoxville.

Gino

@Kiran R.

I would check out Dan Lewkowicz. We interviewed him on our show 

Gino