Top Tips For Investing In Mom & Pop Properties

Jake and Gino Multifamily Investing Entrepreneurs

Jake & Gino

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

5 • 831 Ratings

🗓️ 25 October 2021

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jake and Gino share the top tips when investing in Mom & Pop properties. These are generally the properties which have tremendous potential for value-add but you need to connect the dots like a pro. There could be operational inefficiencies; lack of systems and processes; deferred maintenance; and so on and one has to mine out the factors holding a property back. Check out the Wheelbarrow Profits: https://amz.run/507M Written and created by Jake Stenziano and Gino Barbaro, Wheelbarrow Profits is the tried and true system that they’ve utilized to grow a single multifamily investment into nearly a dozen successful and lucrative properties. Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company that controls over $100,000,000 in assets under management. They have created the Jake & Gino community to teach others their three-step framework: Buy Right, Finance Right and Manage Right®, and to become multifamily entrepreneurs. Subscribe to this channel: https://ytube.io/3McA Sign up for free training: https://jakeandgino.mykajabi.com/freetraining Apply for Mentorship: https://jakeandgino.com/apply/ #realestate #multifamilyrealestate #multifamilyinvesting #investing Jake & Gino Facebook: https://www.facebook.com/jakeandgino/ Jake & Gino Twitter: https://twitter.com/JakeandGino Jake & Gino Linkedin: https://www.linkedin.com/company/jake-and-gino-llc/ Jake & Gino Instagram: https://www.instagram.com/jakeandgino/

Transcript

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0:00.0	everybody Jake and Gino here and today we're discussing the top tips when investing in
0:12.9	mom and pop apartments. This is not the clean. This is not the easy. This is not the simple.
0:18.6	GEDDADD, how you doing? Doing great, Mr. Stenziano-Rosov. How are you doing? Always
0:22.6	making it happen, big man. And Gino, you've seen it all. So I want to hear from you. Give me your top
0:27.6	story, your top craziness from a mom and pop scenario. What have you seen out? What would have stuck
0:33.0	with you over the years? We had so many mom and pop stories. We wrote the book, Mom and Pops. We wrote the book on Mom and Pops. Gino at Jakeinjino.com. Hit me up. I will send you a PDF copy.
0:43.0	It talks about our framework, the buy right, the manage right, and the finance right. And that was
0:46.8	really borne out of dealing with Mom and Pops. Every single one of our deals has been a mom and pop, whether it's 25 unit or this 281 unit deal
0:55.9	that I'm about to share with you. They're all mom and pops. Doesn't mean that they're burned
0:59.4	down, they're trash. They just have those characteristics. They just want to get out of the
1:03.3	business. They have no systems. In this particular instance, Jake and I, remember it like it was
1:08.1	yesterday. We get a call from a broker where he says we have like
1:12.4	really big opportunity. I'm like a hub big, $5,6 million, like $281 units, $12.6 million. Now at the time,
1:20.3	that was the biggest deal that Jake and I had seen an underwritten. And I got really excited. I'm like,
1:24.4	bring it on. We start looking at the deal and we start seeing all these inefficiencies. Rent roll when we bought it was $140,000 the first month.
1:33.3	After takeover, $170,000. Now, everybody, Jake and I are really good. We ain't that good to get rent
1:41.7	up 30 grand in one month. We just aren't. You know, Jake is doing his due diligence
1:46.7	and it's it's an older gentleman who built all these units. He did a beautiful job. We still
1:52.4	own the property. We refied it twice. I think it's printing cash. He's got three beds in there,
1:57.2	four beds. It's that place is beautiful brick. It's him. He tried to sell to his brother
2:02.2	a couple of years back. That fell by the wayside. And he had a few sisters in the office. And Jake
2:07.5	is walking around the parking lot going, who's driving all these beemers? Well, nice. I guess it was
	...

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