15 Apr How Real Estate Investors Jake Stenziano & Gino Barbaro Grabbed 675 Units in 3 years – CREPN #41
Beginner Real Estate Investors Jake Stenziano & Gino Barbaro grew their Multifamily holdings to 675 units & $32 Million in 3 years. Subscribe: itunes Jake & Gino joined forces and in 2010 looking for a way out of their jobs and into real wealth building and a secure future for their family. [x_audio_embed][/x_audio_embed] [caption id="attachment_651" align="alignright" width="191"] Gino Barbaro[/caption] [caption id="attachment_652" align="alignleft" width="189"] Jake Stenziano[/caption] After two years of rejection, and temptation to give up, they found a deal on a 25 unit property that had been listed for two years, and they were on their way.
Finally – They were Real Estate Investors.The first property was a crash course lesson in Landlord 101. They learned how to:
- Collect rent
- Create systems necessary for scaling up
- Adapt quickly
- Scale up
- Professional up
- Ask the questions to help them buy the property right
- Weekly renters
- No leases
- Regular visits from local police
The only way to prove yourself in Commercial Real Estate: get the first deal done.Once you have proven you are a buyer, and are clear on what you are after, brokers recognize you as a buyer and will bring you deals that fit your acquisition strategy.
The Keys to their success:
- Buy Right
- Manage Right
- Finance Right.
- Value Add
- Look for vacancies of 20% or more
- Rents below the market
- Be Creative
- Look for stale listings; properties that have been on the market for over a year
- Ration Utility Billing Systems