Legacy Wealth Blueprint: Insights from Gino Barbaro

Legacy Wealth Blueprint: Insights from Gino Barbaro

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Welcome back to The Daily Mastermind. My name is George Wright III, and as always, I'm here with your daily dose of inspiration, motivation, and education. And today, I have to say, I’m more than just excited—I’m putting a 10X on it.

Why? Because I’m about to introduce you to someone who will help you get the right mindset around making a lot of money. If you’ve ever learned from Harv Eker, you know that success starts with mindset. If you get your mindset right, you can truly create the life and lifestyle you want.

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Meet Gino: Real Estate Mogul

Gino is an entrepreneur who has built an impressive real estate portfolio—over 2,000 multifamily units and $250 million in assets under management. He and his partner, Jake, have been teaching others how to do the same. And if you want proof that their methods work, consider this: their students have closed 68,000 deals and amassed $4 billion in deal volume.

But beyond the numbers, Gino has a heart for impact. He is passionate about helping people create passive income, particularly in real estate.

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Gino’s Origin Story

I feel like we’re kindred spirits. We got on this call, and in 30 minutes, I could already see the similarities.

I appreciate that, but I tell you, man, we’re not here to talk about me. And you know me—I like to be behind the scenes. The whole concept of a mastermind is to associate with the right people. Listen, guys, if you want to increase your net worth, you have to increase your network. And that’s what we’re going to talk about today.

So, Gino, give everybody a little bit of your background. I gave them a brief intro, but I want them to understand why you’re doing what you do. What’s the reason behind it? Then we’ll jump into some tactical and strategic steps.

Wow, that’s a great question. Why am I doing what I’m doing?

My dad was an Italian immigrant, and we owned a restaurant. I was nine years old, and I’d go to work with my dad. I remember walking into the restaurant, seeing the loaves of bread, bringing them into the kitchen. People respected my dad—he loved mentoring others.

But when I went to college and got out, I worked in a cubicle for a year and hated it. So I opened a restaurant with my family. We ran it for 15 years, but in 2007, my dad passed away. And that’s when I had to stop and ask myself: Am I living his dream or my dream?

That’s when everything changed. I started hating the restaurant—not because of the business itself, but because my dad wasn’t there. I realized what I truly loved was working with him, learning from him.

Then, in 2008, I picked up a book: Secrets of the Millionaire Mind by T. Harv Eker. And that book changed my life. It made me realize something: The fruits are in your roots.

I had been blaming everything—Bush, Obama, the economy, the recession—but the reality was, it was my responsibility. Once I understood that, everything changed.

I got a mentor, I started investing in real estate, and I made some terrible deals at first. But I stuck with it, learned from my mistakes, and in 2009, I met my business partner, Jake. He was a pharmaceutical rep who used to come into my restaurant. In 2011, he moved to Knoxville, and we started buying deals.

But if it wasn’t for personal development, for taking complete responsibility for my life, and for meeting the right business partner, I wouldn’t be here today.

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Mindset and Personal Development

I love that you said that. And I’ll tell you why: Most people see the level of success you have now, and they think, “Oh, I could never be that guy.” But everyone has an origin story.

And I want to highlight something powerful you said: The fruits are in your roots.

Guys, listen to me. Most people in life are chasing money, but money is the fruit—it’s not the cause. Your roots create the fruit. Your inner game, your mindset, the way you think about money, the way you think about life—that is what determines your success.

You mentioned taking responsibility. Too many people play the victim game, blaming external factors. But the moment you shift your mindset, everything changes. That’s why I pivoted from just financial education into personal development—it’s the foundation for everything.

So, Gino, tell us—how do those personal development principles extend into what you teach today? And then we’ll start bridging into passive investing strategies.

George, I’m not the smartest guy, but I’ve read thousands of books.

One of the most impactful books I’ve read recently is The Psychology of Money by Morgan Housel. It really breaks down how we think about money. For me, I was always a great saver. I could save like nobody else, but I had the wrong mindset about money—I saved for an event.

Let me save for college. Let me save for retirement. But guess what happens when the event comes? The savings disappear.

Then I had a shift. I need to save to buy an asset. That asset will pay for the event, and when the event is over, I still have the asset.

That changed everything.

Another key principle? Scarcity vs. Abundance.

A lot of people don’t even realize they’re operating from a scarcity mindset. They think making money is hard. They think rich people are lucky. They think they have to “hustle” endlessly to make a living.

But wealth is a skill. It’s something you learn.

You mentioned Harv Eker. Another book I love is Mindset by Carol Dweck. She talks about the fixed mindset vs. growth mindset. If you think success is just for “other people,” that’s a fixed mindset. But if you’re willing to adapt, learn new skills, and take risks—that’s a growth mindset.

And let me tell you, George—right now, the world is changing faster than ever. If you’re not learning new skills, you’re falling behind.

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Principles of Passive Investing

Man, that is gold. Guys, listen to what he’s saying here. If you don’t have the right money mindset, it doesn’t matter how much you make—you’ll lose it. But if you set the right foundation, you can create long-term wealth.

So let’s talk about investing. What are the core principles someone needs to understand if they want to invest in real estate?

Before you invest a dollar, you need to have clarity.

What are your goals? What are you trying to accomplish with this money?

If you’re someone who gets anxious about losing money, real estate might not be the best vehicle for you.

But if you’re serious about investing, you need a blueprint. The one we use is called Buy Right, Manage Right, Finance Right.

Imagine a wheelbarrow. The two back legs are Buy Right and Finance Right—once you set those up, they’re locked in. But the Manage Right piece? That’s like the front wheel—it’s constantly in motion.

If you don’t buy right or finance right, the whole thing tips over.

The biggest mistake people have made in the last two years? Bad financing.

People took on short-term debt, and when their loans came due, they ran out of time. And guess what? Time is everything in real estate.

So if you want to be a passive investor, you have to vet both the deal and the operator.

Are you betting on the horse (the deal) or the jockey (the sponsor)?

Always bet on the jockey. A great operator can fix a bad deal, but a bad operator will ruin a great deal.

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Final Thoughts

Gino, this has been incredible. I know people are going to want to connect with you, so we’ll put links in the show notes. Any final advice for our listeners?

And remember, guys—it’s never too late to start living the life you were meant to live. But you’ve got to take action.