Hello and welcome. My name is Gino Barbero, one of the co-founders of Jake in Gino. And in this how-to

lesson, I'm going to be experiencing a little bit of pain, a little bit of PTSD, as we like to

call it in investing when we think about our mistakes. I'm going to be discussing the top three

mistakes. Maybe I want to, you know, stuff in another one because there are a ton of

them. But what I've seen over the past, I guess 15 years of educating and investing in the space,

these are the ones that I committed early on when I bought my first deal over 20 years ago.

So I want you to be aware of what they are and I want you to be sort of steering

clear of them or at least being, you know, aware of how to once you're looking at a deal,

am I committing this mistake? And it comes back to the buy right, the manage right, and the

finance right. Once you violate one of those three pillars, your deal is going to come into some type of challenges

over the next several years. So let's jump right into it. I think the very first mistake that

most beginning investors make, and even ones that are experienced, they don't respect the market

cycle. Where are we in in the current market cycle? When you first start out investing,

I know most beginning investors, all they're looking for is a deal. What's a deal? Let me find a deal.

They have no idea where interest rates are. They have no idea where they are in the market cycle.

There's four parts of the market cycle.

There is the recession.

There is the recovery.

There is the expansion.

And there is hyper supply.

Now every market, there's a macro market, one of the entire United States.

Then there are markets within cities, then sub-markets.

...