Wouldn’t it be nice to have wheelbarrows of cash delivered to your door month after month? That’s what Cash Flow Diary podcast guests Jake Stenziano and Gino Barbaro do. Well, the money doesn’t really show up in wheelbarrows, but it’s kinda like that these days. Jake and Gino invest in apartment buildings across the country and now own hundreds of units. Yes, hundreds!
They even wrote a book on it. The title? Wheelbarrow Profits!
Jake and Gino weren’t always working together. Their partnership happened over time. Gino has “amassed” six children, and they are the primary reason he jumped into real estate investing. Gino says some pretty interesting things. One is that he doesn’t mind working 60 hours a week, but he wants to decide how those hours are spent. He also says while he has a passion for real estate, his main passion is to spend time with his kids. He loves being a dad, because he gets to be a role model and show his kids there are things they can do to have the life they want. While they saw him work as the owner of a popular restaurant in New York they are now seeing him earn money while spending a whole lot more time with them.
Jake’s story is a little different. He wasn’t a good student, but eventually went to college anyway, earning a physical education degree. Then he went on to earn his MBA. The switch happened when he got a part-time sales job and learned that he loved sales. Then he had a path that made sense to him. Jake tried different sales-type jobs and did well, but didn’t make a great employee because he couldn’t set his own rules. He became the go-make-it-happen guy, which made him a lot happier than working for other people who told him what to do.
If you want to hear how a couple of guys from New York built an empire through buying large multifamily properties, listen to this episode. You’ll learn how to choose a good partner (if you want a partner), how to build a team and how to earn lots and lots… and lots of cashflow.
Here’s a hint: you need to have a great operating agreement between partners or it won’t work. You have to be willing to have uncomfortable conversations with your partner or you shouldn’t take that partner.
You’ll get to learn about scaling and outsourcing, too. This is a bit of a longer episode than others, but it is well worth your time and full attention. Learn more. LISTEN NOW.