Timeless Rules About Creating Wealth | 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

🗓️ 13 November 2023

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to our latest episode on the Jake and Gino channel! In this insightful how-to video, Gino Barbaro, co-founder of Jake and Gino, dives deep into the core principles of building and sustaining wealth. 🏦 Key Highlights: Unveiling The Honey Bee: Gino shares insights from 'The Honey Bee', a book co-authored with Jake in 2019, which emphasizes the importance of creating multiple streams of income. Real-Life Journey: Hear about Gino's transition from relying on a single income source to building a diversified revenue portfolio through multifamily investments. Smart Financial Strategies: Discover the significance of avoiding unnecessary expenses, understanding good debt vs. bad debt, and leveraging assets for growth. Cultivating a Money Mindset: Gino stresses the importance of understanding your relationship with money and reshaping it for success. Get a Free Copy: Interested in reading 'The Honey Bee'? Email Gino at gino@jakeandgino.com for a complimentary PDF copy! In this Video, You'll Learn: How to transition from working hard for your money to making your money work for you. The power of creating multiple income streams, especially in real estate. The truth about managing expenses and the impact of Parkinson's Law on personal finance. Insights into using debt wisely to grow your wealth. Strategies for developing a wealth-focused mindset and breaking free from limiting financial beliefs. Join Our Community: Our students have collectively acquired over 70,000 units and are on their way to creating legacy wealth. Be a part of this transformative journey! Like & Subscribe: Enjoyed this video? Hit like, subscribe to our channel, and get ready for more 'how-to's, the Jake and Gino show, and much more! Your journey to financial freedom starts here! Stay Tuned: Don't miss our next how-to video where we continue to explore the paths to financial independence and wealth creation. Thank you for watching, and here's to building a prosperous future! 🌟

Transcript

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0:00.0	Hello and welcome. My name is Gino Barbara, one of the co-founders of Jake and Gino. And in this how-to show today,
0:05.4	we're going to be discussing timeless rules about money and building wealth, holding up honeybee. Jake and I wrote
0:12.5	this book back in 2019. And little did we know that this book would transform our lives and countless
0:19.3	lives of the Jake and Gino community. This book is all about
0:22.6	creating multiple streams of revenue. If you want to copy this book, email me. Gino at jacanjino.com.
0:28.6	I'll send you a PDF copy. But this is one of the rules that we're going to mention first.
0:32.7	This is no sequential order, but this is something that really, when I was thinking about it,
0:37.3	man, you want to
0:37.9	really create wealth. The first thing you need to ask yourself is, is your money working hard for you?
0:42.1	Or are you working hard for your money? Back when I started with Jake, I was really working hard for
0:47.2	my money. My money wasn't working hard for me. And I had one stream of revenue. Literally,
0:51.6	I had two streams of revenue. I had my restaurant and I had that little
0:55.6	fourplex that was chugging along, doing pretty good, but that's it. If something happened to the
1:01.4	restaurant income, I was basically done. So for me, the important thing is as you start growing and
1:08.1	as you start one increasing your wealth, start thinking about multiple streams
1:11.5	of revenue. And that's what I love about multifamily because I understood, wow, I've got the
1:16.1	threeplex. I've got my restaurant. Let me create a quote unquote what people call a side hustle.
1:21.8	Let me go out and buy another property. Now, I didn't want to fix and flip. I didn't want to buy a
1:26.1	single family home and hold on to it. To me, I already had the job. So that's why Jake and I started pursuing multifamily income. And thinking about every single property that we bought was a different stream of revenue. It was really cool. You're buying a multifamily. Our first deal was 25 units. All of a sudden, we got that stream of revenue. And then for us,
1:45.2	we created a property management company from that. So now we've got another stream of revenue.
1:49.7	And then, oh, guess what? We've got the Jake and Gino education. That's another stream of revenue.
1:55.0	And then guess what? We've got a syndication company where we're raising capital. Another stream of
	...

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