EP 33: Gino Barbaro - Create Generational Wealth by Cultivating Multiple Streams of Income

The Real Estate Lab

Learn how you can turn multiple streams of income into a raging river of wealth! – Listen to the show now on the Real Estate Lab Podcast! https://bit.ly/RealEstateLabPodcast

Resources:

· Jake and Gino

· The Honey Bee

· Wheelbarrow Profits

· Family, Food and the Friars

· Email: [e-mail]

· Relentless

· Customer Service Revolution

· Never Lose a Customer

· Atomic Habits

· Mindset

Outline of The Episode

• [04:09] Gino’s favorite dish to eat out of all his tutorials.
• [04:45] Creating multiple streams of income and eventually getting into real estate.
• [06:41] Selling his restaurant right before COVID-19. How does it feel to let go of a part of yourself?
• [09:06] Why is apartment investing a critical field for investors to understand? Gino was able to get into it while working with his restaurant!
• [11:33] The American Dream has changed over the years. It’s now reclaiming our time, working on something that we love to do, and giving back.
• [15:24] Things always work in threes.
• [17:40] The reason behind the name Wheelbarrow Profits.
• [19:29] The importance of building multiple streams of income and being competent in whatever field you’re in.
• [22:59] When should you decide to make another stream of income?
• [27:50] The reason for writing his book, The Honey Bee. The risks of having only one stream of income.
• [28:23] Who should read The Honey Bee? Always be ready to look for complementary streams of income.
• [29:55] The unique points of the book, teaching how to get something done, and knowing who can help.
• [30:40] The significance of financial control. You have to drop instant gratification!
• [33:04] Should you put your money in a 401K? You want leverage, liquidity, and control.
• [34:38] The biggest scam in the world!
• [35:24] It’s the right time when you’re ready. Look at what’s happening with W2 jobs.
• [37:19] The value of education and being responsible for your actions. Surround yourself with people that will push you to success!
• [40:00] How much has he spent on education? You won’t believe it!
• [41:33] We’re all just winging it! Continue to take baby steps and learn more!
• [42:52] All successful people have a coach. There’s value to paying rather than investing your time in free things!
• [44:25] Don’t make the mistake of staying in your comfort zone! Get out there and try new things! Gino regrets not jumping into real estate earlier.
• [45:06] The problem with old properties as they get older and the transition to newer brick builds.
• [46:56] Gino’s resource recommendation and his take on homeschooling. It’s not about the smartest person, but the one who works the hardest.

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