My Worst Investment Ever Podcast
Business:Investing
BIO: Gino Barbaro is the co-founder of Jake & Gino. He is an investor, business owner, author and entrepreneur. As an entrepreneur, he has grown his real estate portfolio to over 2,120 multifamily units & $280,000,000 in assets under management.
STORY: Gino invested and lost $172,000 in mobile home parks that he didn’t even know what they looked like or where they were.
LEARNING: Know your values before you form a business partnership with anyone. Do due diligence to understand what you’re investing in.
“A person with money needs a person with experience. The person with the experience gets the money. The person with the money gets the experience.”Gino Barbaro
Guest profile
Gino Barbaro is the co-founder of Jake & Gino. He is an investor, business owner, author and entrepreneur. As an entrepreneur, he has grown his real estate portfolio to over 2,120 multifamily units & $280,000,000 in assets under management.
Gino and his partner, Jake, are teaching others how to do the same through Jake & Gino, the premier multifamily real estate education community. Their students have closed over 71,000 units and have $4 Billion in deal volume!
Gino is the best-selling author of three books, “Wheelbarrow Profits,” “The Honey Bee,” and “Family, Food and the Friars.” He currently resides in St. Augustine, Florida, with his beautiful wife Julia and their six children.
Worst investment everIn 2005, Gino had $172,000 sitting in the bank. His friend and accountant told him of an investment from a gentleman he’d been investing with for years. The gentleman was doing mobile home parks.
Though Gino knew nothing about mobile home parks, he was interested in the investment. He met the gentleman, who came driving a gold Maserati. He pitched him this syndicated deal. The parks were in Florida, but Gino never went to see them. He believed the gentleman’s word.
The first six months were great, and Gino was getting distribution checks. Six months later, the checks stopped. Gino and his accountant decided to find out what was happening. They searched the parks online, and what they saw was awful. The parks were in the middle of nowhere. No one would want to buy them.
Lessons learnedGet on the plane and fly down to the property. Take some pictures, then make your decision whether to invest or not.
Gino’s recommendationsGino recommends listening to podcasts on his website to listen to interviews of thought leaders, people who think outside the box, and entrepreneurs. The website also has a ton of other valuable resources.
No.1 goal for the next 12 monthsGino’s number one goal for the next 12 months is to close another 300 real estate deals. He also hopes to continue to scale the education company and bring more students on.
Parting words“Continue to listen to this podcast because you’re going to hear a lot more horror stories in the weeks, months, and years to follow. It’s only beginning.”Gino Barbaro
[spp-transcript]
Connect with Gino Barbaro
Further reading mentioned
Carolyn McClanahan – You’ll Never Be Smart Enough to Beat the Market
ISMS 36: Larry Swedroe – Two Heads Are Not Better Than One When Investing
Luke Gromen – Start Small, Then Grow as You Learn
Jason Brown – You Never Go Broke Taking a Profit
ISMS 35: Larry Swedroe – Great Companies Are Not Always High-Return Investments
Chris Vermeulen – Find What You’re Passionate About
Kenny Rose – Don’t Invest in Anything You’re Not Fully Educated In
ISMS 34: Larry Swedroe – Consider All Hidden Costs Before You Invest
Chong Ser Jing – Pay Attention to What Drives Business Results
James M. Dahle – Don’t Buy More Insurance Than You Need
Harley Bassman – Sizing Is More Important Than Entry Level
Mike Philbrick – Just Because You’re Winning Doesn’t Mean You’re Smart
Sam Burns – Understand What You’re Really Betting On
Jay Pelosky – You Can Be Right but at the Wrong Time
Reuben Mattinson – Have Solid Proof That Trading Is Happening and It’s Regulated
Jerry Parker – Understand Your Investing Capabilities and Limitations
ISMS 33: Fed Success! High LT Rates & Recession Coming
William Cohan – Get the Numbers Right Before You Invest
Neil Johnson – Take the Profit When You Can
Jeremy Deal – Use Differentiated Insight to Evaluate an Investment
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast