Patience, Persistence, and Hitting the Target

Jake & Gino: Real Estate Investing & Multifamily

Jake & Gino

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

4.9 • 842 Ratings

🗓️ 21 January 2016

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Have you ever wondered what it takes to get a signed purchase and sale agreement on a large apartment complex? In this episode, we take a deep dive into one of our actual deals that took over six months to get under contract. As Gino says, it’s not always easy but it’s worth it. This episode demonstrates why it’s so important to not give up. Our multifamily career started with a 25-unit mom and pop apartment complex. We now own over $32,000,000 in multifamily assets. This episode reflects exactly why we have been able to grow so quickly…we don’t quit. In this episode you will discover: • How to work with brokers. • The timeline of a deal. • How to cultivate relationships. • When to walk away. • When to come back. • How to offer value. • The power of positive attitude. • How to stay engaged. • Why is critical to not give up. • Negotiation tactics. • How little deals can open doors for big deals. • The benefits of a good partnership. • The art of the deal.

Transcript

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0:00.0	Welcome to the Wheelbarrow Profits Podcast, where you get multi-family investing made real.
0:06.5	Learn from top players in the real estate investment world as they share their secrets with you
0:11.5	and discover proven strategies on apartment investing that actually work.
0:16.0	To learn more about wheelbarrow profits, visit jake and gino.com.
0:24.7	Your one-stop shop for everything multifamily now to your host jake and gino hello everybody this is jake stenziano host of the wheelbarrow profits podcast
0:31.2	here with my co-host the multi-family madman mr gino barb Barbaro. Gino, how's it going?
0:38.4	I'm doing good, Jake.
0:39.4	How are you doing it?
0:40.3	I'm doing awesome.
0:42.0	Tonight we have a very special podcast titled Patience, Persistence, and Hitting the Target.
0:47.7	This is going to be a culmination of a deal that Gino and I have just got a signed contract on.
0:54.3	And Jake really downplays it from the standpoint of it being a culmination.
0:58.2	Because a culmination, it's been six months, been a long deal.
1:02.8	Like Jake said, it's 156 units.
1:05.6	I'll let you guys know what the property mix is.
1:08.6	It's one and two-bedroom bedroom garden and town homes. I would consider
1:13.7	this a nice B property, a little bit of deferred maintenance. I think the big problem with the
1:18.8	property was there were perception issues on the property. And if you've heard any of our other
1:22.6	podcasts, we would consider this your atypical, not a really typical mom and pop property um there were some
1:29.5	problems on the property as far as the owners they were having issues with the partnership so that
1:35.4	was a perceived value for us it made motivated sellers we're going to go through the whole timeline on
1:40.1	this guys we're going to show you what patience and persistence really means um you need to have
	...

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