Hello and welcome.

Hello and welcome. My name is Gino Barbero, one of the co-founders of Jake in Gino. And in this

how-to lesson, we're going to have a continuation of last week's theme. Reasons why multifamily

investors fail. This is part two. Go back to last week and listen to Part

one. I love to recap it, but I don't want to spend too much time on last week because last week

I took a deep dive into five things that I saw multifamily investors make. Their mistakes that they

made. And you may be saying yourself, well, how do you know that, Gino? I've been coaching multifamily for over a decade. I've been investing for over 20 years.

I've either made all of these mistakes proudly and not so proudly. And I've witnessed our community

make these mistakes. That's the reality. Smart people learn from their mistakes.

I'm a really smart person. Wise people learn from others' mistakes. That's why I'm sharing this

with the entire community of multifamily investors. I want you to be wise. I want you to learn

from the mistakes that I've made. It's just going to make

for a much stronger multifamily market. If over the last three or four years, all these newer

investors were in bidding up all these assets, prices would have been a little bit better.

There have been more people buying these assets at better pricing. Instead, now we've created just a disaster in the

market. There's a lot of deals that are going to be lost, a lot of LP equity that's going to

be wiped out. This happened in the previous market cycle. And all these mistakes that I'm about

to share with you all happened in the last market cycle. They are all happening in this part of the

market cycle and they're going to continue to happen in future market cycles. Now, this very first

one that I'm going to share with you today, this is exactly what happened with Jake and myself.

It wasn't so much of a problem. It's just that once we closed the deal, we weren't sure what to do.

And that's lack of a strong team. Now, don't let this hold you back. Because I see a lot of investors saying,

...