Bobby Casey, an entrepreneur, and world traveler who now specializes in helping people protect their assets and live off the grid. He’s managing director of Global Wealth Protection, which provide asset protection strategies to shield your wealth from frivolous litigation and create "sleep at night" insurance. 

His company can properly structure your offshore company, trusts, foundations and provide bank account introductions to more than a dozen banks around the world. In addition, they can help you move your IRA funds offshore.

We truly live in a world gone mad. Lawsuits are easy to file, the rewards can be enormous, and there’s no down side to losing a lawsuit.

Story of house flip.

Bobby describes how to structure the entities so that it’s hard for attorneys to figure out what you own. By using advanced techniques, like irrevocable trusts, it’s actually possible to not own anything, so even if you do get sued, there’s nothing to attach the judgment to.

Listen to this episode and implement Bobby’s techniques NOW before you lose it all.

 Key Takeaways:

[3:39] Bobby’s Backstory

• Owns Global Wealth Protection
• His mission is to teach people how to internationalize their business, wealth, and life.
• He caters to those who are interested in an international business and lifestyle

[4:32] His thoughts on living like a nomad

• He’s been an expat for almost a decade and lives in Latvia
• He says a digital nomad is “an expat with commitment issues”
• He is passionate because the technology today makes it significantly easier to become a digital nomad.

[7:26] His life before he became a digital nomad

• Started, bought, sold a dozen businesses.
• He has been an entrepreneur his entire adult life and had a few epic failures along the way.
• He started being a digital nomad because he’s an expat.

[9:47] His thoughts on real estate investing

• Real estate investing is a great opportunity for people who want to have a nomadic lifestyle.
• He likes the concept of parking money in physical assets.
• His advice is to diversify geographically

[13:16] Mistakes investors often make

• Poor structuring of a deal is a common mistake
• He provides an example of how damaging poor structuring can be

[17:21] His advice to prevent poor structuring of deals

• He doesn’t recommend home state LLC own their property
• Don’t create an umbrella of ownership in one corporation
• Have an irrevocable trust on the membership interest in all LLCs

[21:50] Irrevocable trust and its beneficiaries

• An irrevocable trust is an asset protection and estate planning tool
• You'll be a grantor or settlor of the trust.
• You don't have any asset that's attachable at a judgment at all.

[26:20] Federal Lawsuits

• According to the American Bar Association, the statistics on federal lawsuits says a new lawsuit is filed every 16.5 seconds.

[29:26] Another mistake and what’s it like to file a lawsuit in the US

• Another common mistake is owning a property in your own name.
• A mindset that no one will sue you makes no sense.
• In the US, there are no consequences to sue somebody for no good reason.

[34:20] Bobby’s advice on implementing asset security

• Don’t own anything in your name.
• Have a properly structured LLC
• Wyoming is a preferred state unless you live there in which case use Nevada.

[37:37] Bobby’s “aha” moment

• Started a business in the 90's assembling bicycles for Walmart.
• An official letter from Walmart suddenly canceled his vendor contract as of that day. This was his big wake-up call on putting too many eggs in one basket.

Connect with Bobby Casey:

• Global Wealth Protection
• Facebook
• Twitter

Resources Mentioned:

• American Bar Association

Gino Barbaro is passionate about multifamily investing, and he believes it’s about the strength of your WHY that determines your success. You must DECIDE you want to change your life, and if you do, you have no choice but to take massive action.

That’s what he did several years ago. Gino was in the restaurant business for 22 years, and he was burned out. He decided he needed to change his life, and he chose real estate to do it.

In this episode, he chronicles his amazing journey from pizza guy to full time multifamily investor. Despite setbacks, a bad partnership and an all consuming day job at the restaurant, he and his partner Jake did their first deal, a 25-unit in Knoxville TN. Today they own nearly 700 units and the sky’s the limit.

Together with Jake, he created Jake and Gino.com, a real estate educational company that offers coaching and training in real estate investing. He is the best selling author of the book “Wheelbarrow Profits”.

Listen and be inspired by Gino’s story. Decide and Your Real Estate Success Will Follow.

About Gino Barbaro

Gino Barbaro is an investor, business owner and entrepreneur. He has been investing in real estate for 15 years and has grown his multifamily portfolio to 674 units in 3 years. He has teamed up with Jake Stenziano to create Jake and Gino.com, a real estate educational company that offers coaching and training in real estate investing. He is the best-selling author of “Wheelbarrow Profits”. Visit Wheelbarrow Profits Tutorial, an educational product focused on multifamily investing. Gino is a graduate of IPEC (Institute for Professional Excellence in Coaching) and is a Certified Professional Coach. He is also the author of the best-selling cookbook "Family Food and the Friars". He currently resides in New York with his beautiful wife Julia and their six children Gabriella, Michael, Sofia, Veronica, Cecilia and Laura. To learn more about Gino visit his website Jake & Gino or Gino Barbaro

Key Takeaways

[2:19] Gino’s background in the restaurant industry

[3:54] The two types of motivation

• Moving towards pleasure or away from pain

[5:00]- Gino’s rough start in real estate investing

• No focus on a specific niche or market
• Mobile home park failure

[7:18] Why there’s no such thing as a mistake

[8:41] Why Gino decided to invest in apartments

• Didn’t want to rehab and flip properties
• Less work than single family investing
• Single family investing in the NY market didn’t work well

[12:44] The benefits of a partnership

• Formed a partnership with Jake Stenziano in 2010
• Your partner can help you see something you don’t see
• Two minds better than one
• Stronger balance sheet

[14:15] Gino’s and Jake’s first deal

• Invested in an “Emerging Market”
• Property was listed for 750K
• Purchased for 500K
• Value added buy - Lots of little things that added up

[19:45] Why it’s a good idea to self-manage your first deal

[24:23] Why you should explain your offer to the seller

[28:12] What’s next for Gino

• Syndication

[29:29] Gino’s lightbulb moment

• Realized he was wasting his time on mundane tasks
• Left the restaurant industry

[35:00] Gino’s advice to a new investor

• Find your reasons why
• Focus on a market, get educated

[37:23] Why people want things but don’t act

• Lack of a burning desire
• Burning desire will lead to massive action
• Example of Gino’s dad and the day he stopped smoking

[43:18] Favorite books

• The One Thing
• Rich Dad Poor Dad

Connect with Jeno:

jakeandgino.com

Twitter

Facebook

Resources mentioned:

Wheelbarrow Profits Podcast

Book: Wheelbarrow Profits: How To Create Passive Income, Build Wealth, And Take Control Of Your Destiny Through Multifamily Real Estate Investing