That's when you shut down opportunities to yourself and you're only looking at it from one perspective.

I don't know if you've heard the slogan, cash flow gets you out of your job and you want to be vertically integrated and you want to manage your own assets and you live in California.

It may be a pretty good place to start. Hello and welcome. My name is Gino Barbaro, one of the co-founders of Jake in Gino.

And in this lesson today, what I like to refer to is our how-to video in multifamily.

I really want to drill it down and really make some of these concepts a lot easier for the

beginning investor to sort of understand. Because when I became beginning investor, when I started

investing, I just thought things were like black and white. This is how you do it. And I was really

not objective about looking at other strategies or other ways to do real estate. I'll give you an example.

I thought cash flow was the end all be all. I'm going to buy a deal for cash flow and that's it.

And in this lesson today, I want to talk about your multifamily business plan, what it takes to build one, what the framework looks like, and some mistakes that I made early on not executing on the business plan.

And you might be saying to yourself, well, what inspired you or why are you talking about this topic right now?

I mean, you've talked about the buy right, the manager right, the finance right.

But I had a coaching call with a Wilbar Profits member yesterday.

And he was out in California, and he was thinking of investing in his market. Now, my initial reaction was, California, California sticks. You can't cash low. Ascent prices are too high,

cap rates are too low. Well, that's not me being objective.

There's an onion. You got to peel back the layers of the onion. Now, is California more challenging?

In my view, yeah, there are certain things, certain risks out in California. I mean, there's rent

control in certain areas. There's not much cash flow in certain areas.

Cap rates are low. But if you're just starting out and it is your backyard and you want to be vertically integrated and you want to manage your own assets and you live in California, it may be a pretty good place to start. And that was my epiphany yesterday,

my initial resistance, my initial reaction to speaking to this student, name is Josh. I said, wait,

Josh, I don't, and then I caught myself. And I said, tell me more. And that's what's lacking in society

today, whether it's religion, whether in society today, whether it's religion,

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