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

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: [email protected] ·      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.Support this show http://supporter.acast.com/the-real-estate-lab. Hosted on Acast. See acast.com/privacy for more information.