Why 2023 Was Our Best Year In Multifamily and What to Expect in 2024 | The Jake and Gino Show

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

🗓️ 22 January 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join hosts Jake Stenziano and Gino Barbaro in this insightful episode of the Jake and Gino Podcast as they discuss their experiences and lessons learned in the multifamily real estate market. 2023 was a remarkable year for their investments, and they're here to share the frameworks and tips that led to their success. Dive into their journey through the ever-changing real estate landscape, understand the importance of disciplined investing, and discover how to avoid common pitfalls. Timestamps: 00:05 - Introduction by Jake and Gino00:15 - Reflections on 2023 and the multifamily market02:59 - Analogy of real estate investments and parenthood05:19 - Market changes from 2020 to 202206:13 - Debt dynamics in the real estate market09:10 - The discipline of Fannie and Freddie11:11 - The challenges of 202315:24 - Eight key strategies for 202420:46 - The importance of pacing in portfolio growth25:58 - Final thoughts and resources Key Takeaways: Learn about the Profit per Unit (PPU) metric and its significance. Understand the impact of COVID-19 on the apartment industry. Insights into debt management and the importance of fixed-rate financing. The role of discipline and patience in successful real estate investing. Strategies for scaling and managing multifamily portfolios effectively. Get Your Copy of "Wheelbarrow Profits": Want to delve deeper into the framework of successful multifamily investing? Email gino@jakeandgino.com for a copy of our book, "Wheelbarrow Profits," and start building a solid foundation for your real estate ventures. Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/

Transcript

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0:00.0	Hello, brother. This is Jake Sons. The I host of the Jake and Gino podcast here with my co-host, the multifamily mentor, the coach, the chef, the father, six, the bestselling author, The G Daddy. Gino Burbrough, Gino, how's going?
0:18.6	Jake, welcome 2024, my friend. How you doing, brother?
0:21.8	Always making it happen, big man. And that's right. Today we're discussing why
0:27.7	2023 was one of our very best investing years. And hopefully we can give you some frameworks and
0:36.2	tips to make you successful in the
0:38.5	future, avoid the pitfalls that other people had over the last couple years, and have a very
0:44.1	strong 2024. Gdad, how's it going? Jake, as I reflect upon what you just said, it's an honor to me
0:52.6	and a privilege to be sharing this with the listeners
0:55.2	because I had a few rough years early on in my investing career and this was you know
1:00.6	2007 2008 and I made the same mistakes that these investors had made the last couple of years
1:07.4	I didn't have a framework I didn't buy. I sure as hell didn't manage right.
1:13.3	And the finance right? I was using shorter term debt, just like everyone else is doing.
1:17.8	Everyone was so sexy with this bridge debt. We got to get deals done. We didn't do any of that.
1:22.6	And I know you're going to run through the numbers. But to me, what's more impressive than anything
1:26.4	else about the number of
1:27.6	units that we closed this year in 2023. I know we did 33 units in 2023. That's three deals,
1:35.3	almost $30 million. And that's capital that we ourselves put into deals. We didn't syndicate those
1:41.7	deals. But what's more impressive about what we did is we buckle down on the manage rate.
1:46.0	I finally realized that multifamily is an entrepreneurial adventure.
1:52.0	It's building a business.
1:53.5	It's just not going out there and doing deals and doing the next deal and outgrowing your
1:57.4	infrastructure.
	...

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