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Jake and Gino Multifamily Investing Entrepreneurs

Building Wealth 101: 5 Common Sense Tips for Financial Success

Jake and Gino Multifamily Investing Entrepreneurs

Jake & Gino

Buyingapartmentbuildings, Investingsmart, Multifamilyrealestateinvesting, Business, Smartinvesting, Jakeandgino, Apartmentinvesting, Investing, Commercialrealestateinvesting, Makingmoney, Buyingrealestate, Realestateinvestment, Wheelbarrowprofits, Realestateinvesting, Cashflow

5831 Ratings

🗓️ 6 March 2023

⏱️ 13 minutes

🧾️ Download transcript

Summary

Are you ready to take control of your finances and start building wealth? In this video, we'll explore some common sense ways to create long-term financial success. We'll cover a range of topics, including managing personal finances, budgeting, and investing. By the end of this video, you'll have a better understanding of how to create a financial plan that will help you build wealth and achieve your goals. First, we'll start by discussing the importance of believing that you can build wealth. We'll talk about how having a positive mindset and taking action can help you achieve your financial goals. We'll also explore the idea of thinking in terms of the value you create for your customer base, and how this can help you build a successful business or career. Next, we'll dive into the topic of personal finances. We'll discuss some key strategies for keeping track of your income and expenses, and how to create a budget that works for you. We'll also talk about the importance of not buying fancy stuff just to appear wealthy, but instead investing in assets that will create even more money for you. After that, we'll cover some tips for creating a long-term financial plan. We'll talk about the importance of investing in assets that appreciate over time, and how to deploy your dollars as "baby money soldiers" to create even more wealth. We'll also discuss some common mistakes to avoid when investing, such as chasing short-term gains and not diversifying your portfolio. Finally, we'll wrap up by discussing some additional strategies for building wealth and achieving financial success. We'll cover topics such as passive income streams, entrepreneurship, and how to stay motivated and disciplined when it comes to managing your finances. Key Insights 00:35 5 Common sense ways to building wealth 01:23 BELIEVE 02:14 Creating value for your customers 04:22 Creating a spending plan 06:40 Manage debt 07:15 Save to invest 11:00 Building meaningful relationships Whether you're just starting out on your financial journey or looking to optimize your finances, this video will provide you with valuable insights and tips for building wealth and achieving financial success. So grab a pen and paper and get ready to take some notes - let's get started! We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/ #realestate #multifamilyrealestate #multifamilyinvesting #investing #apartmentinvesting #multifamily #realestateinvesting #commercialrealestate #loopnet #costart #biggerpockets

Transcript

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0:00.0

You need to create a spending plan.

0:01.6

I don't want to call it a budget because the budget sounds restrictive.

0:04.7

And whether you're talking to me, you're making $3 million a year or you're making $30,000 a year,

0:09.1

we all need a way to be able to allocate our resources. Hello, everybody, taking Gino here, and today we are discussing the five common sense ways to building wealth.

0:42.5

Gina, how you doing today?

0:43.7

Doing great, Jake.

0:44.7

How are you doing, my friend?

0:46.2

Always making it happen, big man.

0:47.6

Now, wealth building for us, speaking from our experience, has been a series of consistent actions over time.

0:55.2

And I think ultimately, this is what it's like for a lot of people.

0:58.3

We're not going to sit here and tell you this pie in the sky kind of stuff.

1:02.1

Let's get down to brass tax.

1:03.4

Give us the five common sense ways that people are truly building wealth in this economy.

1:07.9

What I want you to do is Jake, as I'm mentioning them, throw in a little story every night and I think it's important that we have different perspectives on it

1:14.1

because when I started out, first thing for me to start creating and building wealth was I needed

1:18.3

to have what we call mind belief. Not a fixed mindset or growth mindset. I needed to believe that I

1:22.9

could do it. A lot of us out there make enough money to where we make the money, then we sabotage ourselves and go back to square one.

1:29.5

That's not a way to create wealth.

1:30.9

You need to believe that you can actually do that.

1:33.7

You need to start surrounding yourself.

1:35.6

We're going to talk about it later on, the relationships.

1:37.9

But you need to be educated.

...

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