All Forum Posts by: Gino Barbaro

@Bryan C.

Hi Bryan

You have a sound strategy. Only you can answer the question about leverage.  You have to be able to sleep at night

That being said, one of the ways to create wealth is to control as many properties with as little as your own capital.  You have to make sure the properties are cash flowing and there are sufficient reserves.   

It all depends on your strategy.  Do you want to be a landlord or an asset manager

These are important questions that I have struggled with the past few years, but it has allowed me to grow the portfolio

Hope that helps

Reach out to me if you want to discuss further

Best Gino

@Ayodeji Kuponiyi

Hi Ayodeji

I equate buying a negative cash flowing property to buying a business that loses money.  Unless the business has some unique selling proposition I would not even consider it.  People call negative cash flowing properties alligators because they will sooner or later eat you alive, usually sooner.    I like to purchase for cash flow and appreciation is icing on the cake

Look back at last meltdown.  Everyone was doing the opposite of this and you can see what happened.  If your market does not permit you to buy with this criteria then look at other markets.  I live in NY and I am investing in other markets because it is difficult to cash flow here due to high taxes and other expenses

Gino

Hey Ka'Ron

Congrats.  I love it that you are already thinking about the second one.  Your positive energy and the willingness to fight those few months is the difference between "I should" and "I must".

I love the fact that you bough the property right.  Carry that strategy into all your deals, and don't feel bad if you have to walk away.  You'll find others

Gino

@Chris Kane

Hi chris

That is one option to get into a deal.  If you are going to fix and flip, good option.  Pay it off from the proceeds and move onto the next

If you buy and hold, make sure there is enough cash flow to pay the line.   The rate will obviously be higher but if you have a great deal, then use it

All the best

Gino

@Sonya Serna@Jake Stenziano

Hi Sonya

My partner jake was in the medical field and just left three months ago to pursue investing full time.  I am in the process of selling my business and joining him

It is a lot of work, but if you learn, pick a niche and put your energy into it, I know you can accomplish your goal

Please feel free to reach out to either him or I of you have any questions

Gino 

@Jakeba Belton

Hi Jakeba

You have landed on the right site.  There are countless investors here willing to share their knowledge and experience.  First thing you should do is pick a niche, buy and hold, fix and flip, wholesale, etc.

Then, dive in and learn as much as possible before your first investment

Good Luck

Gino

@Joel W.

Hi Joel

We should all try to show compassion to those less fortunate than ourselves.  I find that if I give a discount or show favoritism to one type of tenant, then the others have a right to be angry and even feel discriminated.  I have partners in my real estate holdings and have to be held accountable and even though this would be a noble gesture, my partners are looking at the bottom line.  I am not an attorney, but I would ask one if it was allowable to discount rent to one type of tenant.

If your business has the means to do this, then it would be a noble cause

Gino

@Mike Pena@Jake Stenziano

Hi mike

It all depends on your strategy. I personally feel that you make money in real estate when you but correctly.  If you buy an asset under market price, reposition and force appreciation, you can refi and pull equity out. Your return will become infinite if you can extract money in deal.  You just repeat this strategy a few times and you will become wealthy

It may take a couple of properties to "buy right" but if you do, then you will become financially free and investors will be lining up at your door to invest

It took me a while to understand the concept but fully embrace it.  There are plenty of these deals out there. Look for motivated sellers and network to find the deals

Good luck

Gino

@Douglas Larson

The property looks great.  Do you have any new deals in the hopper?

Gino 

@Ted L.

Hi Ted

The real success is that you jumped in, pulled the trigger and got the first deal done.  The pics look great.

Keep the momentum going

Gino