244: From Pizza Shop to $100M+ Multifamily

October 28, 2025

Host Paul Shannon sits down with Gino (of Jake & Gino) to trace the path from family pizza shop to operating ~1,900 units with no outside equity. Gino breaks down why they paused syndications after 2019, how “PPU—profit per unit” drives their buy/hold decisions, and the exact LP diligence framework he wishes he’d had before losing money as a passive. They dig into today’s tighter credit, catching-a-falling-knife rent/occupancy dynamics, and why longer debt runways and operator fit matter more than ever.

Key Takeaways:

The LP Framework: Jockey (sponsor) → Saddle (alignment of interests) → Horse (deal: buy right, manage right, finance right)
Why they exited syndications: control, long-hold strategy, and avoiding the “feed the beast” pressure—investor expectations make investors your de facto bosses
Diligence like a pro: visit the asset, run the PPM through AI, then spend an hour with a securities attorney before wiring a dime
Operate for durability: target $200–$400 PPU, prefer vertical integration, and secure ≥5-year debt to bridge cycles
Match strategy to you: know your relationship with money, stagger commitments (the “conveyor belt”), and choose sponsors aligned with long-term holds if that’s your goal

Disclaimer

The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Remember that past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any of the advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.

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