No Broke Months For Salespeople - What is Value-Based Decision Making?

Episode Date: October 10, 2024

 Gino Barbaro is an investor, business owner, author and entrepreneur. As a real estate entrepreneur, he has grown his portfolio to over $100,000,000 in assets. Gino Barbaro co-founded Jake & Gino, ...a multifamily real estate education company that offers coaching and training. He is also a best-selling author of three books, Wheelbarrow Profits, The Honey Bee and Family, Food and the Friars.   Today, Gino will share about Valud-Based Decision Making. You can find Gino from these links below:WebsiteLinkedInInstagram  To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan Rochon

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Starting point is 00:00:00 And that's when it dawned on me, stop blaming everybody else for your failures. You know, you're 38 years of age, you are where you are because of all the stuff that you've done for the first three years. Once I understood that, it was all about becoming responsible, getting rid of the victimhood, understanding that I need to put in the work to become a better person, to become more valuable to others, to create value for others. Welcome to the No Broke Months for Salespeople podcast, the ultimate destination for salespeople, business people, and entrepreneurs. As you immerse yourself in this show, you'll discover the secrets to unlocking consistent and predictable income. We reveal the new way to persuade human behavior by mastering the art of the teach to sell method get ready to transform your approach
Starting point is 00:00:46 and achieve unparalleled success gino barbaro is an investor business owner author and entrepreneur as a real estate entrepreneur he has grown his portfolio to over 100 million dollars in assets gino barbaro co-founded Jake Gino, a multifamily real estate education company that offers coaching and training. He is also a best-selling author of three books, Wheelbarrow Profits, The Honey Bee and Family, Food, and The Friars. Today, Gino will share about valid-based decision-making. Hello, friends. My name is Dan Rochon.
Starting point is 00:01:36 I'm the host of the No Broke Months for Salespeople podcast, where you learn how to teach to sell, which is the new way to persuade human behavior. And when you teach yourself, you're going to unlock consistent and predictable income. You're going to strengthen relationships to achieve self-fulfillment. And you're going to avoid the number one sales mistake to never face rejection again and learn how to use normal realistic programming to influence and handle difficult people. Welcome to the show. Gina Barbaro is going to talk to us about the value-based decision-making process and what that is. And who's Gino, by the way? He is a business owner. He's an author. He's written
Starting point is 00:02:14 several different books. He's an entrepreneur. And he's grown a small little investment portfolio of about $100 million in assets. So some of his books that I recommended you check out, The Wheelbarrow of Profits, The Honeybee in Family, and Food in the Friars. That's Wheelbarrow of Profits, The Honeybee in Family, and Food in the Friars. Welcome, Gino. How are you, sir? Dan, consistent, predictable, reliable. That's multifamily, my friend. You are speaking my language right now. So that's an awesome title. And, you know, let's jump right into it. The values based decision making, because for me, I was a restaurant owner. I grew up in the restaurant business. My dad, an Italian immigrant, 1994, owned it for years. I loved it, but I only had one restaurant for 20 years.
Starting point is 00:03:01 And when I met my partner, Jake, business partner back in 2009, we started buying deals in 2011. It took us 18 months to find the first deal. But by 2013, we had our first deal. And within five years, we had 1500 apartment units. What's the difference? Did Gino get that much smarter? I don't think so. I go back to one thing and one thing only. It was all about the values, our core values that we created with Jake and Gino and the core values that I didn't have in my previous business. I didn't have core values. Every time a dishwasher didn't show up or something was going on at the restaurant, it was somebody else's fault. It was never my fault. I never took responsibility.
Starting point is 00:03:38 As a leader, I didn't have values. I didn't know how to lead by example. And when I took over with Jake, I said, how do we scale a business? Cause I've never scaled a business before because multifamily and by the way, all real estate is not a pro venture. It's all about business and systems. If you don't know that by now, and if you do your way ahead of the game. So for me, Dan, figuring out what my core values were, putting that on paper, my mission statement, my big hairy audacious goal.
Starting point is 00:04:02 That's what allowed me to scale and to create an amazing, enduring company. All right. Take a break. Restaurant owner. 20 years. Your dad, was we the second generation restaurant owner or were you? Yeah. Yes. And I was, I remember Dan at seven years of age, going to work with my father. He owned the restaurant and I'm seven years old and I, and I go to work. Where was the restaurant? Where was the restaurant? It was a Yonkers, New York, believe it or not.
Starting point is 00:04:29 Do I have to say it like that? Yes. Can I just say Yonkers? Is that okay? You can say Yonkers. Or do I have to say Yonkers? It was great. I thought every seven-year-old went to work with her dad. I was in heaven. What did you do as what all right let me think what did you do as a seven-year-old at the restaurant well stuff that you ain't doing nowadays i was in the kitchen holding a knife chicken cutlets filet and chicken cutlets i was working the fryer i was doing stuff that i would
Starting point is 00:04:59 let my kids do in my restaurant i mean like i had kids at my place i've got six children i'm like no no you're too young for the kitchen. But back then that generation, you just learn, they throw you in the fire. And I was sauteing. I was sending out food at 10 years old, but it was great. And I loved it. It was just different. You could have one business back then and make a lot of money and have an amazing middle-class lifestyle. Things changed back in the nineties and two thousands. But for me, we're growing up with him. I loved it, dude. It was awesome. When did you take over the restaurant? In 1994, I decided to buy my own restaurant with my mom because my dad had partners and
Starting point is 00:05:30 his partners didn't want to sell. So I'm like, mom, I just graduated college. You told me to go to college four years, get a job. I'm not working at a cubicle. I hate that crap. I don't want to work and I don't want to commute to New York City every day. So we bought the restaurant in 94. And it was very interesting because the place we bought it, for all you real estate investors out there, it was a path of progress. It was about an hour north of the city. Back in the 90s, people were fleeing the Bronx and Queens and Manhattan and going up to where my restaurant was. So for the first 10 years, little competition, lots of people moving in. We did really, really well for the first 10 years.
Starting point is 00:06:06 All right. What happened in the second 10 years? My dad passed away in 2007. And yeah. And for me, I had to reassess my life. I'm 37 years old. I've got four kids at the time. And I'm like, am I living my dad's dream or am I living my dream? And it really hit me hard that I wasn't happy. I wasn't fulfilled with what I was doing. And I looked to another vehicle. I looked to make money somewhere else. And I had been doing a couple of real estate deals. I had bought a fourplex. I bought a strip mall. I bought a mobile home park. They weren't doing really well. And I said, there's a secret tip framework. What is it? And I knew that fourplex that I owned, I loved it because there were residents there. I could see that you put people in apartments. They need it. It's a basic
Starting point is 00:06:48 human need. So in 2008, I decided to just apply for mentorships. I started getting coaching on multifamily. And for me, it was fortunate. I read a book called The Secrets of the Millionaire Mind by T. Harv Eker. And that's when it dawned on me, stop blaming everybody else for your failures. You know, you're 38 years of age. You are where you are because of all the stuff that you've done for the first three years. Once I understood that, it was all about becoming responsible, getting rid of the victimhood, understanding that I need to put in the work to become a better person, to become more valuable to others, to create value for others. Not to start a business to provide for my family,
Starting point is 00:07:22 but to start a business and to start an entrepreneurial venture to provide for others. And those others will ultimately provide for my family. And that whole mind shift happened around 2008 and 2009. And I was fortunate because then all of a sudden Jake Stenziano appears in my life, lucky. He moves down to Knoxville in 2011, and I have the skills to invest in multifamily. He's in the market. We partner up and 18 months later, we look at deals. And I chose multifamily by default. in the market. We partner up. And 18 months later, we look at deals. And I chose multifamily by default. I couldn't fix and flip homes. I couldn't be a realtor because I was already working full time. I didn't want to pay more taxes. I didn't want to have that turn and burn on that hamster wheel. Transactions pay the bills. Equity makes you rich. I already
Starting point is 00:07:59 knew those concepts, but I'm like, I don't want to fix and flip homes. It looks great. I love seeing things come up and then making money, but I wanted to buy stuff and I wanted to hold stuff. And I wanted to create cashflow. Like you said, consistent, predictable, and reliable income. That's what I wanted from my real estate portfolio. So value-based decision-making process. So it seems like the first piece of that was owning your being, having an acceptability of your cause in the matter and not being a victim. Am I understanding you correctly? That's maybe a piece of the value-based decision-making process? That is part of it.
Starting point is 00:08:41 And for me, it dawned on me in 2005 when I did my first big real estate deal with someone else. And I chose him as a partner. And I'll call this partner Maserati Mike because he had a nice gold Maserati. I'm like, dude, I like your car. He says, I like your money. We got together. The deal crapped out 18 months later. And I can blame Maserati Mike for all of that. But when I look back at it, did it align with my values? Did Maserati Mike align with my values? Was I the one Mike align with my values? Was I the one that should have been investing in this deal? I didn't even look at the deal.
Starting point is 00:09:09 I didn't do due diligence. I didn't do the work. So I can blame Maserati Mike all I want, but ultimately it fell upon me. And I think when you first start implementing this values-based decision-making, what you simply need to do as you're listening to this, do you know what your values are? I mean, do you actually have them? And if you don't, it's okay because unconsciously we're still living by them. You're making decisions based upon them, right? Hopefully. And if you aren't and you do become successful at something, like let's say you want to become a lawyer, but you don't really want to be a lawyer,
Starting point is 00:09:36 but you do become a lawyer and you become a high powered attorney and you're making tons of money, but it's not your values. You'd rather be doing something different. You're not going to feel successful. So the first thing to do is just flesh out what your values are. Minor integrity, minor hard work, responsibility, family, all the things that Maserati Mike wasn't, but all the things that Jake was. And once I understood that, I'm like, oh, wow, this dude is a hard worker. He cares about his family. He's working for his family and for mine. He's not making any excuses ever. He shows up. He's responsible. This partnership is going to work. Our goals are aligned long-term. We don't have the get there rightness. We don't have the shiny object syndrome. If you
Starting point is 00:10:14 can flesh out those values and start making your decisions based upon your values long-term, not only are you going to be more successful, I think you're going to feel much more successful as well. Excuse me for interrupting my own show. You are freaking amazing. And because you're amazing, I'm going to ask for a quick favor. We'll just take you 30 seconds for you to leave a favorable five-star rating or review on your favorite platform. Then what I'll do is I'll enter you into a raffle where we can meet 45 minutes for a free coaching session. And I'll also give you a copy of the book, real estate evolution, which is the 10 step guide to CPI consistent and predictable income.
Starting point is 00:10:57 Oh, by the way, I'm the author of that book. So if you'd like for me to coach you, give you some nuggets and help you in your business, go ahead and leave a review and you can enter into the monthly raffle to win. So, Jake is your partner. Yes.
Starting point is 00:11:17 And how did you meet Jake, and how did you know he was the right business partner to be business partners with in 2009 he comes into the restaurant he's a pharmaceutical rep he's coming into the restaurant getting catering orders out of my restaurant and bring them to doctor's offices this is before the sunshine act great dude dressed up sharp he had his you know he had his little boy voice for the, for the nurses and all great salesmen, but he'd come in every month with a sheet and on his sheet, he had every order that needed to be delivered. So he was prepared. He was really professional. And when he showed up hard worker and I just started developing a relationship with him. He was
Starting point is 00:12:00 actually my brother's really good friend. I was in the kitchen. I'm the one hiding in the kitchen, doing all the work. And I met him one day and we just started talking, having that conversation. He's like, you know what? I want to get out of New York. It doesn't align with my values. I want to move down South. And I said, Jake, when you move down South, let's start looking at deals wherever you're moving.
Starting point is 00:12:15 I didn't know where Knoxville, Tennessee was at the time. No, none of it. No other New Yorkers. And honestly, how many New Yorkers knew where Knoxville, Tennessee was back in 2009? Very few. It's New York, New Jersey, Connecticut. That's what we're concerned with. And how times have changed, my friend. But I said, when you get down there, let's start looking at deals. And I knew when he got down there, the amount of work that he put into it, the effort that he put into it, the property tours that he was doing, the brokers that he was calling, the deals that we were working on together, that all led me to believe this is a good feeling. It's a good fit. I feel really good. And I feel comfortable going through this relationship. And we were in constant communication. That's the important thing with partners and partnerships. You need to be constantly communicating with your partner and letting him or her know what's going on. That's what a partnership's all about. Being an entrepreneur is lonely sometimes. If I can't talk to Jake, who am I talking to?
Starting point is 00:13:03 I'm not talking to my wife about doing a 100-unit deal. She doesn't have that same capacity, that same understanding that my partner has. And if you can't have a beer with your partner and enjoy company with your partner, you probably should not go into partnership with somebody long-term. That's my opinion because you're going to be talking to that person a lot. You're going to be working for that person's family, and he's going to be working hard for your family. So if you don't like that person, I don't think you're going to be working really hard for that person.
Starting point is 00:13:27 Just my opinion. Hopefully he's working hard for your family. Yes. I have had some relationships in business that weren't quite clear. Yes. And I have too. But that's for a different show. Yes.
Starting point is 00:13:39 But I have also, I've made mistakes also. And when it comes down to me making the mistakes, we don't lay out the expectations on the front end. I don't get on weekly calls with the partners. This last partnership that I had, I didn't have weekly calls with the partners. I didn't have access to certain bank statements. I didn't have what we call a level 10 meeting. We're getting on what's going on this week,
Starting point is 00:13:58 what's going on that week. We didn't have that. So I can blame the partners, but part of that responsibility needs to fall upon myself for choosing that bad partner as well. Well, ultimately all the responsibility has got to let me, because if that's the one decision that you make or don't make that everything else, you know, follows after that, you know, and it's just, it's, it's, if you did like a linear tree of the partner, didn't do this, the partner didn't do this. The partner didn't do this. The partner didn't do this. The partner didn't do this, which is what most people focus on, by the way.
Starting point is 00:14:28 Yes. If you really, really, really look at that and you backtrack it, it's going to backtrack all the way back to a decision-making point that you're responsible for, which is, do you want to be partners in business? And that right there, from that point moving forward, you're responsible for everything. Would you agree with that? I would. And another thing that I would say, when you're looking for a partner, make sure that your skill sets aren't totally complimentary. Jake's a charging bull.
Starting point is 00:15:00 Jake's an animal sometimes. I have to pull him back and say, Jake, let's be a little empathetic here. Let's show some empathy sometimes. We're doing a podcast. He wants to jump right into it. I'm like, let's warm the guest up a little bit. Just as an example, sometimes when he negotiates, he's a hard negotiator. And sometimes I've got to come in and say, hey, let's massage this.
Starting point is 00:15:16 Let's slow play this a little bit. Let's ask them some questions. So if you're both a type, you may not work as partners. You may be butting heads all the time. And I think working on that and seeing what the partner, ultimately, your goals have to align. If Jake is out there trying to close a deal a week, and I'm saying, Jake, I can only do a deal a year,
Starting point is 00:15:35 that's not going to work as well. So you really need to understand and communicate what you as partners are trying to accomplish. We brought a young guy on in our deal back in 2018. Great kid, really smart, super intelligent. He wanted to syndicate the world. He wanted to do thousands of units. And Jake and I were vertically integrated. We manage our own properties. We know that we can't outgrow our infrastructure. And if we do, we're putting our business at peril. And you're seeing what's going on right now in the syndication world where people are just buying
Starting point is 00:16:03 deals for fees and they're starting to blow up. So we made a conscious decision back in 2019 to say, we need to part ways because we don't want to grow that quickly. We know there's going to be problems and headaches if we grow too quickly. And thankfully we lean back on our values-based decision-making to say people first, extreme ownership, and unwavering ethics. Those are the three values that we really leaned on during that time to make that tough decision because that gentleman's moved on. He's doing great in his career. It just wasn't the right fit for what we were trying to accomplish. I heard you say that we all have values. Many of us don't have an awareness of our values. And so I was listening to your suggestion of step one, get an awareness of what do you value? Yes.
Starting point is 00:16:48 One thing that I recommend for people to consider when you're looking at like, what do I value? Take a look and ask yourself, who's the relationship I have with right now? For me, it's my daughter, 13 year old Maggie. Who's the relationship that i have right now that i cherish the most step question number one question number two what do i value from that relationship now certainly what i value from the relationship with my daughter is not the same as um on the surface right like i'm not expecting my daughter to go into business with me, right? Like that's maybe down the future. We'll see, but probably not, but maybe. But what
Starting point is 00:17:31 is it that I value about the relationship? I value that she tells the truth. I value that we have a relationship where we trust each other. I value that she sometimes mostly will listen to me and that I will mostly almost always listen to her. Right. And so, so just looking, so even like, you know, a value with a 13 year old, my daughter, you can come up with a, with a compass because those same traits are traits that I would value with in business as well. And so that could be a starting point for many if you're struggling with how to identify my values. What do you think about that, Gina? I love that, Dan.
Starting point is 00:18:13 And what I would even add to that is your values are changing. As far as I'm concerned, when I started the restaurant back in 94, I didn't have kids. I didn't mind working on the weekends. I didn't mind working on the holidays. I didn't mind going on the weekends. I didn't worry about working on the holidays. I didn't mind going all over the place, but in 2006 and 2007, I'm in a rut because I'm missing kids and stuff for my kids. I'm working on Christmas Eve. I'm working on the Easter. I don't want to do that, but I have to do that. And I don't have that autonomy. So I decided I'm going to leave that. And I'll give you an example of how I've made a decision with Jake and Gino to align with
Starting point is 00:18:43 my values. If I'm such the family person, I want to hang out every weekend with the kids and spend more time with the kids. But all of a sudden Dan goes, Hey, Gino, I've got an event this weekend. Can you fly out? And Mary says, Hey, I got to, and I'm flying out every weekend and I'm missing weekends with my kids. I may become a rock star, but guess what? I'm not aligning with my values. I may become successful, but I'm going to live. I'm going to have a big void in my life because I should be spending the time with the kids instead of jet setting every weekend and going somewhere else. So that's how you can really use your values by saying, should I be going away every weekend
Starting point is 00:19:13 and going to all these events? Or should I maybe do one a month and spend the other three weekends with the kids? There's, there's the decisions we need to make unconsciously. The person is going to say, I need to build a business as big as possible and really go against their values and really harm the family, harm the thing that they value the most. I think this goes with anything. It could be your health. It could be your family. It could be your faith, whatever that is. As you have those values, start choosing them. They may change over time, which is okay, but trying to really focus on them and making decisions based
Starting point is 00:19:42 on them. Should I do this deal? Should I get into this partnership? Should I take this education? Should I start this business? Should I create a new relationship with somebody that has all of these things? Should I maintain the relationships that I have with people? We just hang out with the people that we've been with around for the last 30 years and don't even question it. And sometimes you say, I can't believe I'm still hanging out with that person. Why? It's just because unconsciously, and you know what I mean, right? You know exactly what I'm talking about. And it's okay sometimes to distance yourself from somebody who doesn't align with your values. I don't mean to shut them down, but at some times, reassess the things that are going on in your life. Does it bring you energy and joy,
Starting point is 00:20:14 or is it taking away from you? And is it taking away from your values? You already know, 87% of all real estate agents fail in this business. And you also know it doesn't have to be that way. If you're a real estate agent and you're looking for consistent and predictable income, I invite for you to get your free copy of Real Estate Evolution, The 10-Step Guide to CPI, Consistent and Predictable Income for Real Estate Evolution, the 10-step guide to CPI, consistent and predictable income for real estate agents. And you can do so when you visit www.therealestateevolution.com. I'll share with you your book that I authored to show you the way. Thanks. Yeah, I call that my moral compass, what you're describing.
Starting point is 00:21:08 And I think that the important point there, and you just said it, but I want to bring it out for the viewer and the listener. What I heard you say, Gino, is that you have predetermined decisions that you've already made before it's asked of you. So in other words, if you already understand your moral compass, that's my words, not yours, but if you understand, here's my decision-making process. I will say yes to one event a month. Now, I don't need to make the decision when Dan asked me, Bob asked me, Mary asked me, Sue asked me to come and present or come and do whatever, because I've already made the decision. And I think that that's something that's really vital of what I just heard you say. And I think
Starting point is 00:21:57 that's special because now your life becomes easier. So not only now that you align with your values, but now it's, it's, you don't have any thinking time, right? If you just presented last month, we're using this as an example. If you just presented last week and I say, Hey, can you present next week? You could, uh, no, uh, but I could in two months because that's where my next availability is. You don't have to think about it. And how rewarding and refreshing can that be? So is that sort of the way that you, am I responding? Yeah. Okay. Yes, absolutely. What I would say also is maybe I can take my kids to the event with me. I did an event in July of last year. I went to Hawaii. I typically wouldn't go to Hawaii for an event, but Hey, we made it a
Starting point is 00:22:41 family vacation. I brought them out. It was a whole week. Hey, there's tax write-offs. Hey, it's a win, win, win. I'm just saying like four days on the beach, eating in Hawaii, going to the event, having the kids there, seeing the kids in that environment, which is what I want. I want my kids in an entrepreneurial environment. That's one of the values that I want them to see. I want them to see dad loves work, right? So that's another value that I want. I want them to value work and value hard work so they can see me doing that at an event with them there. I can't say no to that opportunity. That opportunity just checks the box. I don't have to think about that one. That one's like go time. How often do you screw it up these days? Oh, you screwed up a lot because there are opportunities and sometimes there's
Starting point is 00:23:25 boundaries. That's the thing with frameworks. You know that you made the mistake. You're like, oh, why did I do that? And it's hard. And that's when you feel out of alignment. That's when you feel like you have problems. But hey, that's what life's all about. Life's about making the mistakes and learning from the opportunities. And by the way, this framework, everything we do in life can be really broken down into frameworks. It's the same thing when we invest in real estate, multifamily. We call it buy right, manage right, and finance right. Those are the three pillars. And in the buy right bucket, it's really choosing what kind of assets to buy, not any deal, right? Everyone says, I want a deal. Well, what's a deal for you? Is it one kind of specific market? What kind of
Starting point is 00:24:05 specific price, units, build, age, all of that. So once you start working on frameworks in every aspect of your life, it becomes a lot easier to make the decisions because the more clear you are, the easier it is to make the decision. The more you're able to focus on something, it's so much easier to make a decision. So you can create these frameworks for every aspect of your life. People don't know that. I've just been figuring this out for the last few years. And that's why we've been able to scale the portfolio. Because every time a deal comes across our desk, we know exactly what we're looking for.
Starting point is 00:24:35 80s build newer, 100 units plus, median income of $50,000. We're in Knoxville, two beds, garden style, maybe townhomes. We love garages. We like brick. When that deal comes across the desk, we can act right away because we know it's a deal for us. Starting out, we're like, what else? Yeah, exactly. Yes. You already decided what the answer is going to be. Just the same way with your values, with your deals, you've already made the decision.
Starting point is 00:25:27 Yes. And Dan, the problem with that is the market cycle changes. Those decisions are going to be different because the deal I bought back in 2013, older, worse neighborhood, but a great price point. I can't buy that today because it's too expensive. So you have to understand the market cycle, but it's still having those framework and having those pillars set out. It'll be much easier for you to make those decisions. All right. We're filming this right now, October 10th, 2023. Interest rates have spiked the quickest that they've ever had. They're not the highest, but they've spiked the quickest. What do you have to say to somebody considering to invest in real estate over the next 18 to 24 months? Well, the first thing I like to say is inflation is not transitory. And if they had done their job sooner, we wouldn thing I like to say is inflation is not transitory. And if they had done their job sooner, we wouldn't have had to spike interest rates as quickly and shock the system as quickly. But they had to go up. Anyone who's in real estate knows that this had to happen
Starting point is 00:25:54 because interest rate increases is just what the Fed's trying to do is they're trying to really calm down inflation. They're trying to tamper inflation. And how do you do that? Inflation is increased in the supply of money. Once you increase the supply of money, prices go up. So what they're doing is they're increasing interest rates to slow the economy down. So the demand slows down, supply comes up. It's natural recurring. So as that happens, we're going to go into a recession. When people are telling you, maybe if we're not already in one, we're going to have to go into one. They need to slow the economy down. So what we're seeing right now is the cost of capital a year ago, interest rates were three, three and a half percent. They've gone to six and a half to seven
Starting point is 00:26:33 percent right now. They've doubled where a lot of sellers don't want to drop prices, but the sellers that have to sell are dropping prices. And guess what? There are a lot of people out there who are uneducated saying, I can't get into the market right now because I'm afraid interest rates are too high. So there's less buyers out there. So less buyers means less demand for the asset, which means prices will come down. Listen, we just signed a deal about three weeks ago. It was a 96-unit deal. The price was $8.2 million.
Starting point is 00:26:59 We found some, as you would say, hair on the deal. There was some pretty big things on the deal. We went back to the seller. We asked them for a million dollar discount. Now, if you tried to do that a year ago, they would have laughed at you and said, next one up, baby. This one, they're like, okay. Now they have motivation.
Starting point is 00:27:16 They want to sell this deal. But to tell you that the market has shifted and now all of a sudden brokers are actually calling you back and they're calling you to say, hey, Gino, can you put in this call to offer? They need buyers out there. And a lot of them have left the table. And the reason why they left the table is a lot of people are not paying their preferred rates of return. There's a lot of capital calls on deals that are going sideways right now. So those people, that pool of investors can't look at new deals because their deals currently
Starting point is 00:27:42 aren't working. The newer investors have this mindset that I can't get into it. Interest rates are too high. Well, as interest rates go high, prices are eventually going to have to drop. And that dislocation is starting to happen right now. And I'll give you one last point. When you walk down the street here in St. Augustine, Florida, where I live, one of the most beautiful places on the planet, I've been here for the last six years, I'm actually starting to see for rent signs, open house signs for sale by owner. I haven't seen those things since 2017 or 18. Once you start seeing that pop up, I guarantee you, I promise the shift is starting to occur
Starting point is 00:28:15 as in we're going from the summer to the fall. The seasons are starting to change and now is the time to start preparing yourself, start getting on broker lists, start doing property tours, start talking to potential partners and investors. Because when the shift occurs, if you're not in it, you won't even know what the telltale sign. So get into it right now. Start preparing yourself for the winter that's about to come. You do a podcast. What's the name of your show? Jake and Gino.ake and gino yes did you have to arm
Starting point is 00:28:47 russell him for a top building well my kids my kids always say that because i do a podcast with my wife my podcast with the wife it's called the julia and gino show so i guess i'm always second fiddle but it sounds better jake and gino julia and it just rolls off the tongue and i don't mind being second fiddle i like i like being in the background and just giving my little opinions here and there. But the one with the Jake, it's great. It's an entrepreneurial show. We do thought provoking. We've got, we've got Chris Voss on the show, T Harvick, or a lot of really big names. The one with my wife is the one that I truly love every week because it's more of like a therapy session, first of all. And I'm, you know, I've Dr. Gary Chapman on the podcast, the five love languages.
Starting point is 00:29:24 And what we really want to focus on is really building stronger families, building the deeper connections and building those relationships and being able to communicate with your spouse. And all of that to me is so foundational because if you have a great home life, building a business is very similar to building a home, building a great family life. I see the parallels. So if you can strengthen the relationship at home, have a great home life, your business life is going to be a lot easier and vice versa. If you can put both of those together and marry both of those, man, you're going to be living an amazing life.
Starting point is 00:29:52 All right. So if you're listening to this right now and you want to learn how to become a better entrepreneur, more effective, and again, leading with values, Jake and Gino show. If you're looking for a better home life, the Julia and Gino show. Did I get that right? You got that right. You nailed it. All right.
Starting point is 00:30:11 I was going to call you Jake. I was going to give you a second Billy. I wasn't even going to call you by your own name. Gino, Gino, Gino, Gino. Thank you so much for joining us today. You're amazing. I want to stay in touch with you. Thank you for your time today. Consistent Predictable Income Community, I want to wish you to have the best day of your life. Be grateful. Make good choices. Go help somebody. And help the agents go find a listing. thanks so much for listening to the show and i want to tell you about teach to sell the new way to persuade human behavior because i'd love to be able to meet you face to face and because i want to be able to help you unlock consistent and predictable income i invite for you to join us
Starting point is 00:30:59 for one of our free trainings upcoming and to be able to find out details, go ahead and visit www.nobrokemonths.com. That's nobrokemonths.com and find out how you can have no broke months.

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