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
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Connect with Gino Barbaro
Further reading mentioned
Dan McClure - Understand Who You Are and What You’re About
Bryan Kramer - Be Human and Build Relationships
Andrew Stotz - 8 Benefits of Increasing the Profits of Your Business
Nathaniel Harding - One Risk at a Time
Will Roundtree - Get a Customer First
Kyle Mowery - Invest in Your Circle of Competence
Gabe Marusca – Pay Extreme Attention to Your Body
Giuseppe Grammatico - Pick the Medium That Works for You and Stick With It
Andrew Stotz - 27 Top Podcast Interviews of 2023 to Reduce Risk and Increase Return
Johan Norberg - We Have to Fight for Capitalism
Steve Faktor – How to Build Your Investment Future
Eric Simonson - Not All Real Estate Investments Are Made Equal
Kimberly Flynn - Don’t Put All Your Savings Into a Single Idea
Peter Goldstein – Check Your Emotions at the Door
ISMS 37: Larry Swedroe – Pay Attention to a Fund’s Proper Benchmarks and Taxes
Jitipol Puksamatanan – Let Time Be Your Friend
Anatoliy Labinskiy – Double-Check How Your Product Looks and Works
Therapong Vachirapong – You Need to Take Risk to Earn a Return
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
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