Your Roadmap to Success in Multifamily: An Exclusive Interview with Jake Stenziano

In this freewheeling interview, we delve into the dynamic world of Multifamily Real Estate with none other than Jake Stenziano, the Co-Founder of Jake & Gino and the Co-Author of top-rated books such as “Wheelbarrow Profits” and “The Honey Bee.”

This insightful interview — conducted by Vikram Jethwani, the Founder of All About Multifamily and Marcom18 — promises to unravel the core investing strategies, frameworks, and experiences that have driven Jake Stenziano’s remarkable journey in the Multifamily real estate investing and coaching industries.

Excerpts:

Vikram: Jake, let’s start by discussing your entrepreneurial journey. You were in the Pharma industry and then transitioned to Multifamily real estate investing. How did you make this switch and what challenges did you face during this journey?

Jake: I’m grateful for entrepreneurship as it rescued me from struggling within corporate America due to my desire to create my own path. Growing up in a small town, I lacked exposure to entrepreneurship, which made visualizing a plan difficult. Transitioning into multifamily was a calculated risk that took persistence and two years to close our first deal. It was challenging, but the determination helped me break through.

Vikram: Why did you choose multifamily real estate as your investment vehicle over other options like stock trading or crypto?

Jake: Multifamily offers reliability, consistent cash flow, double-digit returns, and tax advantages. It addresses a basic human need – shelter – and provides long-term growth potential. It’s not a get-rich-quick scheme but a responsible way to build wealth over time.

Vikram: For those interested in multifamily investing, how can they cope with the patience required in this industry when immediate gratification seems more appealing?

Jake: Multifamily investing is for responsible individuals committed to the long term. The education and systems available today can shorten the learning curve, but it’s essential to commit to the process and understand that success doesn’t happen overnight.

Vikram: Considering the current market uncertainty and rising interest rates, is now a good time to enter the multifamily investing space as an investor?

Jake: Market conditions vary based on location and demographics. While rates are rising, it’s essential to align with partners and lenders who understand your goals. Opportunities can still be found by refining value-add deals and securing long-term financing.

Vikram: Could you shed some light on creative financing, such as seller financing, and how it can be a helpful tool for those with limited capital to enter the multifamily space?

Jake: Creative financing, like seller financing, can help individuals with limited capital enter the space by reducing the initial down payment. Starting small with creative financing can provide valuable experience and confidence to eventually scale up to larger deals.

Vikram: You’ve authored books like “The Honeybee” and “Wheelbarrow Profits.” Could you recommend other books or resources that would be valuable for people interested in multifamily investing?

Jake: Apart from real estate-focused books, consider reading about systems, scaling, and general business principles. “Scaling Up” and “Small Giants” are great reads. Also, Ray Dalio’s “Principles” and Steve Jobs’ autobiography offer valuable insights.

Vikram: As an industry expert, what is your vision for the multifamily space in the next three to five years?

Jake: The multifamily space’s future depends on demographics and market conditions. Focusing on areas with population growth and strong demand, along with aligning with the right partners and lenders, will contribute to success.

Vikram: With rising insurance costs affecting many in the industry, how can investors cope with these challenges and manage their expenses effectively?

Jake: Selecting markets with lower insurance costs, like those with lower risk or lower exposure to natural disasters, can be a strategy. Also, diversifying vendors and considering different insurance policies can help manage costs.

Vikram: For those looking to start in multifamily investing or join your community, what’s the best way to get started and engage with your resources and events?

Jake: Our annual event, the “Jake and Gino Multifamily Mastery” Conference, is a great opportunity to learn, network, and gain valuable insights from experts and our team. We also offer educational resources and podcasts that delve into systems and operations within the multifamily industry.

Vikram: Thank you, Jake, for sharing your valuable insights and experiences. It’s been an enlightening conversation that will undoubtedly benefit those looking to venture into the multifamily investing space.

Jake: My pleasure, Vikram. I’m always here to help and provide guidance in any way I can.

Thank you for having me.

If you wish to learn more about Jake & Gino, check out www.jakeandgino.com