Broker Relationships and Getting Deal Flow | How To With Jake and Gino

Jake & Gino: Real Estate Investing & Multifamily

Jake & Gino

Smartinvesting, Buyingrealestate, Investing, Multifamilyrealestateinvesting, Business, Investingsmart, Apartmentinvesting, Management, Makingmoney, Realestateinvesting, Cashflow, Jakeandgino, Realestateinvestment, Commercialrealestateinvesting, Buyingapartmentbuildings, Entrepreneurship

4.9 • 842 Ratings

🗓️ 20 November 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this insightful how-to video, Gino Barbero, co-founder of Jake and Gino, delves into the crucial world of multifamily real estate investing. He offers invaluable guidance on how to build effective relationships with multifamily brokers to enhance your deal flow. Key Points Covered: Understanding the Role of Multifamily Brokers: Learn about the crucial function of brokers in the multifamily market and why they are considered gatekeepers of deal flow. Initiating Relationships with Brokers: Discover effective strategies to get on a broker's list and start receiving potential deals. Identifying the Right Brokers: Utilize the 80-20 rule to focus your efforts on the most productive brokers in your market. Conducting Property Tours: Understand the importance of property tours for building rapport with brokers and uncovering potential off-market deals. Professionalism and Responsiveness: Tips on how to communicate effectively with brokers to establish trust and reliability. Defining Your Buy Right Criteria: Learn how to convey your investment criteria clearly to brokers for more tailored deal flow. Maintaining Consistent Communication: Discover the importance of regular contact and how it can strengthen your relationship with brokers. Gino shares real-life examples, insights, and actionable steps to help you understand the multifamily market's dynamics. He emphasizes professionalism, responsiveness, and the importance of having clear investment criteria. Whether you're new to multifamily investing or looking to sharpen your approach, this video is packed with practical tips and strategies to help you navigate the market successfully. Join us to enhance your financial intelligence and make impactful investments in the multifamily sector. Don't forget to like, share, and subscribe to the Jake and Gino channel for more insightful real estate investment tips and strategies.

Transcript

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0:00.0	Hello and welcome. My name is Gino Barbaro. I'm one of the co-founders of Jake and Gino.
0:04.0	And in this how to video, we're going to teach you how to create relationships with multifamily brokers to get more deal flow.
0:12.8	Multi-family is different than residential in a couple of key factors. And this is one of them.
0:18.9	You need to develop relationships with brokers in
0:22.2	multifamily to get deal flow. There are other ways. But as Jake likes to say,
0:26.7	multifamily broker is the gatekeeper. They're the ones who have deals. They're the ones who
0:30.9	have these lists. And when they start getting deals, if you're not on that list,
0:35.5	guess what? You're not getting a look at the deal. And by the time, they go through their lists. If they don't have any buyers, they're not on that list, guess what? You're not getting a look at the deal.
0:38.0	And by the time they go through their lists, if they don't have any buyers, then all of a sudden, that deal ends up on a loopnet or a crexie or an auction.com.
0:48.4	That's why it's crucial to be able to create a relationship with a broker.
0:53.1	And we're going to show you on this
0:54.5	lesson on this video right now on how to do that. First of all, let's understand the role of
0:59.2	the multifamily broker. Their role is to either list of property and to get the highest price
1:05.7	for their seller. As buyers, we're competing in trying to get the best price. So when a broker says
1:13.8	this is the price, take or to leave it, don't be insulted, don't get offended. They're trying to do
1:18.7	their job. And over the last couple of years, you can go in and put low bowl offers. You can
1:23.6	insult them. Not a good thing that I would recommend. This is not residential. You're just
1:27.2	throwing out their offers.
1:28.4	And, you know, you're going to work with these brokers.
1:30.2	And all of a sudden, you give these offers that brokers can't even represent or present
1:33.5	to their sellers.
1:35.3	You're going to start annoying a lot of the brokers.
	...

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