The Importance Of Acquiring Cash Flowing Real Estate Investments-with Rod Khleif-EP 146

On this episode of the Lab Coat Agents Podcast, Jeff talks to Rod Khleif; He has been in the business for a long time and has recovered from $50 million in losses from the crash in 2008. Rod is a person who understands the psychology of overcoming failures and is now creating massive success. Tune in for his incredible insights! Episode Highlights: Rod is a big-time investor in the real estate world and author of a book called ‘How to Create Lifetime Cash Flow Through Multi-family Properties’. Many realtors are performing at a very mediocre and below level, and many of them are going to ride the roller coaster because they have a hard time finding success, which is a topic that people need to hear, says Jeff. Rod met a guy who taught him the importance of mindset and psychology. How indeed 80 to 90% of your success and anything is your mindset and psychology.  Rod thought he was a real estate God when he earned $8300 an hour over a 40-hour workweek for the year, and he felt like he could do no wrong; Then, 2008 happened and he lost everything.  Nobody has it better than you to find the assets and capitalize on them. There’s nothing you can’t do, or be, or have if you set your mind to it, says Rod. When you first buy a car, you never really notice them before purchasing the vehicle, and they are everywhere. That is your reticular activating system, and that is why goals are so important.  Napoleon Hill talks about in his book- if you don’t want it, you’re not going to be able to push through fear and limiting beliefs. Once you have goals selected, write why you have to achieve every one of those goals with vivid language that inspires you, says Rod. Get pictures of your goals, put them around you, do vision boards of things you want, and put a screensaver of the same because that is how you make this stuff happen. Jeff asks Rod, “What are two or three things that are on your vision board now?” Rod recently closed on a 300 unit apartment complex about 2300 doors to his students in the last couple of years, but building a self-sustaining school in Latin America is something he is going to do.  What comes after fall is winter, so you should consider making investments. Also, you should be thinking about how you might pull through if the market collapses because when it does, sales drop through the floor, says Rod. If you haven’t experienced failure, you assume success will continue, says Jeff. Residential real estate brokers don't know how to evaluate a multifamily property properly. Some of the best deals Rod has seen are where a residential broker doesn’t know how to value multifamily property. You choose the meaning you place on something that happens to you. Two people can have the same perceptually horrible thing happen to them, but one person could come out stronger, and the other person comes out destroyed, says Rod. There is no greater force in human psychology than the need to remain consistent with how we identify ourselves. If you have achieved a big goal, you have to have other goals lined up. You need a vision for your future, says Rod. Jeff inquires, “Is there anything tactical or technical in the list that an agent, realtor, or real estate professional can hang if they go through failure?” With cash flow, you can survive anything, and it is the biggest thing Rod wants to tip to any agent or realtor.  If you are selling real estate but not acquiring assets, you make a big mistake because you are in the perfect position to capitalize. 3 Key Points: Rod got his real estate broker’s license when he turned 18. Back then, you could become a broker through education, but now you need some experience. The world needs leaders, but you have to pay attention to what you are focusing on. Positive or negative focus is critical, says Rod. Tony Robbins calls an important principle the science of achievement versus the article of fulfillment, where achievement is a science, but fulfillment is an art, and you have  to tap into what motivates you, says Rod. Resources Mentioned:  Lab Coat Agents | Website | Facebook | Facebook Group | Twitter | Instagram  Jeff Pfitzer   | Instagram | LinkedIn | Twitter Rod Khleif   | Website | Boot Camp | Lifetime CashFlow | Text Multifamily to 72345 Chime (sponsor) RedX (sponsor)