E128: Avoiding Beginner Mistakes & Mastering Multifamily - Gino Barbaro

<p>Gino Barbaro is an investor, business owner, author and entrepreneur. He has grown his real estate portfolio to over 1400 multifamily units. He is the co-founder of Jake & Gino, 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.</p><p>He is the best-selling author of two books, Wheelbarrow Profits and Family, Food and the Friars, and graduated from IPEC (Institute for Professional Excellence in Coaching) where he earned his designation as a Certified Professional Coach. He currently resides in St. Augustine, Florida with his beautiful wife Julia and their six children.</p><p> </p><p><strong>KEY TAKEAWAYS</strong></p><p>1. You have to look at everything from the investor's mindset. That means utilizing leverage, liquidity and control. </p><p>2. Start with the "Why?". If you have reasons and clarity they will reap rewards. </p><p>3. When you're managing a property you need to be in constant contact with the management company. Weekly calls and "pulse" emails containing KPIs.</p><p>4. Every property should have it's own management budget. </p><p>5. What are your core values? Use these when hiring staff, using vendors and working with partners. </p><p>6. You need to know the market. Know the expenses, taxes and operating costs.  </p><p>7. Speak with community bankers and property managers to learn about the market and gain knowledge on the market and costs. </p><p>8. It's a "people business". Tenants leave due to bad customer service and bad landlords... not rent increases. </p><p>9. Turn into that fear and head into it, despite having it. </p><p>10. Challenge your limiting beliefs. </p><p> </p><p><strong>BOOKS</strong></p><p>Limitless by Jim Quick - <a href="https://www.limitlessbook.com/">https://www.limitlessbook.com/</a></p><p>The Go-Giver by Bob Burg - <a href="https://www.amazon.com/Go-Giver-Expanded-Little-Powerful-Business/dp/1591848288">https://www.amazon.com/Go-Giver-Expanded-Lit