What it Takes to Climb to Greatness with Jake and Gino

In today's episode, we have the opportunity to feature Jake and Gino. These guys have notched up some impressive wins in the multifamily arena. What sets them apart is not just their real estate victories but the human touch behind their success—their mindset, approach, and the strategic steps they took to climb the ladder. Whether you're eyeing multifamily ventures or dreaming of building a lasting legacy, this episode is a must-listen. Get ready to peek into the minds of these winners, challenge your thinking, and perhaps feel a bit uncomfortable. So, armor up, open your mind, and let's dive into this episode.  [2:05] Jake, Why should I listen to you?  First and foremost, I never initiate conversations with strangers at a coffee shop. These days, I tend to keep to myself and spend time in the woods. Despite this, I believe you should consider my perspective due to my extensive experience. Jim and I have had a successful journey in both the general business and multifamily sectors. While many individuals in our field offer coaching services, what sets us apart is our team of over 80 dedicated members. We've cultivated a portfolio of $70 million in multifamily assets, actively managing them, and one of the things I am particularly proud of is our real-life experience and consistent success, achieving a remarkable 20% year-over-year increase in top-line revenues for an extended period.  [4:15] Gino, Why should I listen to you?  To me, building a connection starts with genuine curiosity. I'd want to learn about Anthony Trucks first, his story, and what makes him tick. I believe this approach applies to any relationship or business interaction. People are interested when they feel heard and valued. As for my partnership with Jake, it all boils down to value-based decision-making. When we connected in 2009, we didn't realize it, but our values aligned perfectly. From family to integrity and hard work, our core values were in sync. That alignment has been the key to our successful partnership for over 15 years. It's about not letting each other down and doing things for your partner that you wouldn't do for yourself.  [8:18] You've mentioned that partnerships often don't work. Can you share instances where you've seen partnerships fail and identify common pitfalls or mistakes people make in such situations? One thing I want to emphasize is that whenever I undertake something, I always have my kids in mind. Every endeavor I pursue and every dollar I earn is for the benefit of him and his family. I come from a hardworking background, having started working at the age of eight. This is not an exaggeration; I've genuinely held a job since then, and I've been running my own business for over 20 years. I've faced numerous challenges and persevered through various hardships. I won't tolerate someone younger than me suggesting I need to step up my game. If that's the case, they should work for someone else because they're not suited to be a partner. It's a harsh reality, but that's the truth. Entrepreneurship can be tough, and at times, it can feel isolating. I can't have someone telling me to step up when I've been working hard my entire life. I believe in being a man and facing challenges head-on. I've never had to ask Jake to fulfill his responsibilities, even when he had COVID during one of our events. He showed up, took the stage, and didn't make excuses. That's the mindset and commitment I expect from a partner. [15:14] What led you both to venture into multifamily, especially coming from backgrounds in sales and the pizza business? My mom, as an immigrant, owned a couple of buildings, and I saw the power of real estate. I wanted something passive. I wanted to make a little bit of extra income, and I just wanted to start with a couple of small buildings with Jake. I didn't want to buy single-family homes because I think that multifamily is scalable. If we buy a 10-unit, you can buy a 30-unit, then a 50-unit. So that, for me, is why multifamily. I didn't know the tax benefits. I didn't know the principal paydown. I didn't know about the forced appreciation. I know all these other benefits of multifamily. I just saw the cash flow. I wanted to get paid every single month for owning a business. I didn't know at the time that if you look at real estate, you should buy it not only as an actual asset investment but also as a mini-business.  [17:00] Were there any hesitations when transitioning to multifamily from your previous pursuits, and what is the typical mental barrier that people often encounter in this shift? Jake: Jacob is the key factor - it's all about mindset. Many believe real estate is only for property owners, bu