E287: Avoiding Beginner Mistakes & Mastering Multifamily (Encore) - Gino Barbaro

<p>Gino Barbaro and I dive into what it takes to become a master player in the multi-family game. We go into detail on topics such as: what mistakes beginner investors make, why you want to start investing, property management techniques, hiring staff, how to get a headstart and much more. This episode is PACKED full of incredible learnings from one of the investing legends.</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 its 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>Resources Mentioned</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-Little-Powerful-Business/dp/1591848288</a></p><p>Never Lose a Customer Again by Joey Coleman -<a href="https://www.amazon.com/Never-Lose-Customer-Again-Lifelong/dp/0735220034"> https://www.amazon.com/Never-Lose-Customer-Again-Lifelong/dp/0735220034</a></p><p>Think and Grow Rich by Napoleon Hill -<a href="https://www.amazon