Closed on a 4 Unit!!

[Gino Barbaro]

We just closed on our first deal of the year. Last year, we closed on 3 100 unit complexes (they were closed with our own capital), and this deal is a small one, but a good one!

4 units all three beds

$575,000

All Cash

Rents of $1,800

What makes it good for us?

• It fits within our buy right criteria
• We own 12 units right next door.
• Newer vintage
• The three beds are in high demand, and we are blowing away the 1% rule
• There is very little cap ex
• We focus on PPU (profit per unit), and this is going to profit nicely and add to our scale in that part of the market

Exit strategy is to refinance our capital out when rates drop, and to hold long term.

You have to be willing to take what the defense gives you, and you have to understand all of the investing strategies and know when to use them

2021 and 2022, we only did about 200 units, smaller deals, but very profitable and we’ve refinanced all of our capital.

2023 was an excellent year. 128 units, 105 units, and 97 units.

If you aren’t doing deals, you can always be improving operations, meeting more potential investors, and creating more relationships.

Life is like real estate. There are a lot of ups and downs, but if you maintain focus and surround yourself with amazing people, things will eventually work out.

Now is the time to go all in on real estate, when everyone is predicting the sky is falling, and the deal flow has slowed. Brokers are calling you back, and they are starting to put deals on Loopnet. Cut out the noise and focus on your business.

Your input shapes your outlook!

All the Best

Gino

[Arn Cenedella]

@Gino Barbaro

I love your approach as I have a similar approach.

Go big or go home isn’t always the right approach.

As you note, in a market where one has a strong existing footprint, it’s easy to pick up additional smaller assets.

That’s what we do in Greenville SC.

It’s our only market and we own buildings that range in size from a triplex to 181 units - doesn’t matter to us. We love love our market and will buy any size deal that makes sense.

Love the whole vibe of Jake & Gino! 👍💪

Plus my first job as a teenager was delivering pizzas on my bicycle in Forest Hills Queens NY.

🍕