All Forum Posts by: Gino Barbaro

@Yoana Yordanova

Have you considered trying to find another management company? I would go online and check other rentals in your area to see what other management companies are out there, and start contacting them. To me, it seems as if this company is stalling in the hopes of you wanting to sell so they can list it.

A unit should not take 7 months to rent. If it's not price or condition, then it is the marketing. Ask them where they have it advertised

Gino

@Shannon Brill

What would it cost to convert the other range to gas? Bringing in the line and buying a new stove? I would also look into a propane tank for the gas stove.

Gino

@Andy Port

I would go to https://syndicationattorneys.com/, and start reading all of Kim's blogs. You can even get a copy of her book.

If you DM me, I can send you some additional resources that answer your questions.

Gino

@Deandre Brown

Follow up is key

And then you can ask the broker if they have anything else you can tour

@Deandre Brown

It depends where you are in the market cycle. If you had put in an offer 1 year ago, they would have laughed. Now, they take the offer more seriously.

You waiting can also have the opposite effect. Someone else may come in and put that offer. It comes down to knowing how motivated the seller is, and getting "permission" from the broker to put in a really low offer. A good broker should know where a seller's price is, and they can present the offer showing the cost involved. Chris Voss calls it the Accusation Audit, where you start out by listing all the problems and costs, and then ask how can we get this done.

Every deal and seller are unique, and the goal is to find out their motivation and how you can solve it, quickly.

I would definitely re engage the broker in the week to come to see the activity on the deal, and if it has traded

Gino

@Michael Quarles

Why don't you find someone who has a coaching business and coach with them. I think your vast knowledge and experience are a waste if someone doesn't pay.

If people don't have skin in the game, they will not act on your advice/guidance/direction!

Charge them, and donate the money to charity. We had you on our pod a few years back! I'm glad that your wife is recovering.

@Jason Malabute

We recorded a podcast with Ivan about six months ago, and although he may have used bridge financing in a couple deals, the way he's scaled his company and the fact that he is vertically integrated gives me the feeling that thesis going to be in this business for the long term, and focuses heavily on operations.

Here's a link to his show --> https://jakeandgino.com/real-estate-wisdom-lessons-from-ivan...

Gino

@Jeffrey Duck

I would actually put a clause in their lease that they need to take garbage to the curb, and maintain cleanliness. If not, they get fined. 

You may have to spend a few bucks to install a camera, and stipulate in  the lease they use only their can. If caught, assess a fine.

@Shannon Mogilinski

Valuations peaked in 22, and I think have dropped about 20%, depending ons the market.  Bridge debt has killed a lot of operators, and trying  to extend while praying for rates to drop,, while the 10 yr went up.

I personally think it's a great time to get in. Brokers are calling you back because of slow deal flow, and while everyone is fearful, as Buffet says, you need to be greedy.

Ultimately, it's only time if you're ready.  Long term, the fundamentals are great, not enough supply,y and it will continue to be in demand

Hope that helps

Gino

@Imdad Rahman

You are in hunter mode right now as you start out. Going to events, telling everyone you know that you're in the business is where you need to start. And any family and friends may have friends that have money. Ask them if they know of anyone who is looking for an opportunity.

Building trust is done through building a brand, and becoming an authority on the subject matter. Creating content, on YouTube, articles, blogs, appearing on other people's podcasts are ways to spread your message. Looking into doctor/dentist groups that have capital to invest is also another avenue to access capital.

You want to transition from a hunter out there looking for investors, to a farmer who is cultivating investors with content and providing values.

Unfortunately, it takes time and effort, but it cane be done. And legal advice, you can not be compensated for raising capital unless you have a broker dealer licenses. I would visit https://syndicationattorneys.com/ for all the info you'll need on legal. And then I would schedule a call with @Kim Lisa Taylor

Gino