MNS - 200 Units at 23 with Peter Pratti

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

🗓️ 25 August 2020

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Topics Covered Include: Why Peter switched from a career in the medical field to real estate. The importance of having the right peer group. How education was the key to scaling at such a young age Peter’s Bio: Peter is originally from Long Island, New York and has been living in Knoxville Tennessee which is also where he is doing all of his investing. Peter has been in real estate for over three years. Halfway into college, he discovered real estate and began wholesaling houses to build up capital. Peter did this in unison to attending college. While wholesaling Peter and his partner began looking into multi-family acquisitions and began making offers on small apartment complexes. They started off with a 7 unit, a 6 unit, followed shortly after by a 35 unit building. All three were bought by using their own as well as our investors capital along with acquiring bank debt. They tacked on another 20 units and within about 14 months we had a portfolio worth 4.5 to 5 million dollars. Peter also just recently purchased a portfolio of mobile home parks (174 lots total) for 4.5 million. He hopes to hold this property for many years.

Transcript

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0:00.0	This is Movers and Shakers, where we interview the upcoming generation of Make It Happen
0:06.4	Multifamily Investors to share their story.
0:11.3	Welcome to the Movers and Shakers podcast.
0:13.7	My name is Gino Barbaro, co-founder of Jake and Gino, multifamily investor, educator, father,
0:18.8	mentor, and I am joined by my co-host, Joshua Ryan Ruzin,
0:21.9	the community director of Jake and Gino. Josh, how are you doing today, bro?
0:25.9	Gino, doing well. I've been waiting all day for you to ask me this question. I'll tell you what,
0:29.8	you know, I was getting ready this morning. And as I was putting some product in my hair,
0:33.7	I read on the label, it said, humidity resistance. So what I thought of immediately is
0:38.6	this thing can go with me to Florida. I'm all set getting ready for the move in January.
0:43.8	Dude, there's not enough humidity down here. I want it to be hotter, okay, everybody, because the
0:48.2	heat is great. I love the heat and Josh didn't get the memo. I'm wearing pink this morning.
0:52.5	Josh is wearing gray. So Josh usually wears the same color shirt as I do. He didn't get the memo. So a little upset by that,
0:57.8	Josh. Dino, besides wanting more heat, what's going on in your neck of the woods over there?
1:02.9	You know, it's going great. I'm not going to lie to you. Everyone's got to get out there.
1:08.0	Everyone has to create their own success.
1:11.3	And I think ultimately we need to be responsible, whether it's with our health,
1:14.8	whether it's responsible of what we put into our mind.
1:18.0	This is all about personal growth and personal development.
1:20.3	The last four months, if you have been working on yourself, you've lost an amazing opportunity.
1:25.6	You know, Josh, what's that parable?
1:27.2	When's the best time to plant the tree 20 years ago?
	...

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