Rod Khleif 0:00
Let’s talk about fear first. You know, the thing that you need to remember about fear is we all have it. But but when you take action and push through it, it mitigates and, and and it actually diminishes the fear. And I will say something else too. When you’re grateful it’s you can’t be fearful at the same time when you’re grateful you can’t be angry at the same time. So use gratitude as well. Just take a minute and look around it. You know your home and your family and go outside and look at nature and just be grateful. You can’t be fearful at the same time. So that’ll be really important through this next session.
Welcome to CRE PN Radio for influential commercial real estate professionals who work with investors, buyers and sellers of commercial real estate coast to coast whether you’re an investor, broker, lender, property manager, attorney or accountant we are here to learn from the experts.
J Darrin Gross 0:58
Welcome to commercial real estate pro networks, CRE PN Radio. Thanks for joining us. My name is J. Darrin Gross. This is the podcast focused on commercial real estate investment and risk management strategies. Weekly we have conversations with commercial real estate investors and professionals who provide their experience and insight to help you grow your real estate portfolio.
Today my guest is Rod Khleif. Rod is a multiple business owner, and philanthropist who’s passionate about business highperformance real estate and giving back. And just a minute we’re going to speak with rod about the investor mindset.
But first, a quick reminder, if you like our show, CRE PN Radio, there are a couple things you can do to help us out. You can like, share and subscribe. And as always, we encourage you to leave a comment. We’d love to hear from our listeners. Also, if you want to see how handsome Our guests are, be sure to check out our YouTube channel. You can find us on YouTube at commercial real estate pro network. And while you’re there, please subscribe with that one. Welcome my guest rod. Welcome back to CRE PN Radio.
Rod Khleif 2:09
Good to see you. Darrin, let’s have some fun today. It’s crazy times we’re in right now. So I think we’ve had a lot to talk about.
J Darrin Gross 2:15
Well, I am. So looking forward to this. Before we get started, if you could take just a minute and share with the listeners a little bit about your background.
Rod Khleif 2:23
Sure, sure, sure. And then for those of you that have heard this before, forgive me but I’ll be very brief. So I’m an immigrant. I was born in the Netherlands so you know wouldn’t choose when Mills immigrated when I was six to ended up in Denver, Colorado, we really struggled. You know, I remember eating expired food and drinking powdered milk with our sirloin in the morning, which sounds better than it is and we and I wore clothes from the goodwill and the Salvation Army all the way through junior high school till I lied about my age at Burger King and got a job when I was 14. And you know, and I’m sure there are people on listening now that had it harder than we did. But I knew I wanted more. And luckily my mom had an incredible work ethic. She babysat kids, so we’d have enough money to eat. And she was an entrepreneur with her babysitting money, believe it or not in she invested in the stock market successfully. And she also invested in real estate. Her first real estate acquisition was house right across the street from us when I was about 14 She paid around 30,000 When I was 17. She told me she made $20,000 in her sleep and I’m like what you make 20,000 You didn’t do anything. I’m forgetting screw College, I’m getting into real estate. So I got I became a real estate broker. Right when I turned 18 You could do that with education. I got smart now you need some experience, but I could have my own office right when I turned 18. And you know, my first year I made about eight to 10,000 my second year maybe 10 to 12,000 Keep in mind this is 44 years ago, but my third year I made over $100,000 So what happened between your two and year three that would cause me to 10x my income? Well, what happened was I was dating a girl and worked with her dad who was a broker who taught me about mindset and psychology, how not really 80 to 90% of your success in anything is just that your mindset and psychology only 10 to 20% of The Real Estate stuff. You know, Darrin and I talked about on our podcast, it’s it’s really taking action with what you learn not getting locked up in fear are caught up in limiting beliefs. And, you know, fast forward to today I’ve owned a couple 1000 houses that I’ve rented long term in three states. I’ve you know, I own 1000s of apartment units in 2006 my net worth went up $17 million while I slept. And you might say wow, I because I said Wow. And I got a little I got a little bit of an ego and thought I was a freaking real estate God and you know, barely fit my head through the door sometimes and you know when that happens, God or the universe will give you nice little smack Well, that was 2008 Nine I lost $50 million in 2008 Nine and so you know what I’m known for the most on my podcast, which is called lifetime cash flow through real estate investing is talking about the mindset it took to have 50 million in the first place and then more importantly the mindset It took to get it back. And, and I think in the times we’re in right now with, you know, rampant inflation, the Fed is promised five more interest rate bumps. And as of this recording, they’ve already gone up 50 basis points a couple of weeks ago, which derailed several of our deals. And, and so, you know, I think we are heading into a time where there will be fear. And so, you know, I’d love to maybe talk about some strategy with you, Darren, around mitigating that and dealing with it.
J Darrin Gross 5:35
Now, I think that’s exactly where the conversation needs to go. You know, you mentioned that you’ve been through, well, just the cycle, the the 07 09 period, or, 06 09 period, when, when, you know, nobody could see anything, possibly go wrong to where, you know, nothing was right to where opportunities were everywhere. And then the cycle rode back up. You know, when I’ve talked with people about this, in the past that the notion has been a cycles typically run, you know, somewhere between seven to 10 years, the from, you know, low to high. And that’s just kind of the, the, you know, the wavelength of a cycle kind of thing. Ever since I’ve been doing this, this podcast, there’s always been this kind of sense. Well, we’re kind of late in the cycle, like we’re in the second, second, double, you know, a doubleheader.
Rod Khleif 6:27
It’s kind of three, three years ago, they were saying that four years ago, there was no, right.
J Darrin Gross 6:31
No, I mean, every ever since I’ve ever since I’ve had that did the first interview. And so clearly, there are things that have, you know, we’ve gone past whatever the normal cycle is, and, and when we look back, you know, 10 years from now and look back in history, it’ll be just kind of like a curve that goes up and down kind of thing. But in, you know, at the end, they, they tend to, there’s always an upward line there. But it’s those those cycles, where we’re, you know, we’re where we are right now, and we’re probably headed, based on just all of the things that are in line to happen. And I thought, you know, given your experience, your work that you do with mindset, your coaching and the boot camps, and just all of your investment experience, who better than to speak about just the, you know, how to stay strong, how to keep your mindset sharp, how to be ready for what’s coming, ready to capitalize on what’s coming in the van in your course, you know, and your belief and recognize, you know, the opportunities are gonna come. And so I don’t know, what the what, you know, where the right place to start this conversation, but I mean, is that it’s just,
Rod Khleif 7:44
I can run with it, I can just run with it, because because I will tell you, it really ties right into what I had to do when I lost everything. Okay. Because, you know, when, of course, I had massive fear at that time. I mean, I thought I was set for life, you know, I $50 million net worth conservatively. And and it just imploded. And so, you know, I will tell you some of the things that I did to recover from that, because you can cross correlate those strategies to what you’re going to need to do moving into this in this recession. And I think, you know, there are some people were saying it’s going to be a big one. In fact, who was that that just said, use the word hurricane. One of the big CEOs, one of the big, big banks, I believe it was but you know, all many, many people have said, there’s a recession coming ahead of Fannie Mae, the head of JP Morgan Chase, think that think actually, he’s the one that said it could be a hurricane. So you know, but the bottom line is, when that happens, of course, the news, the media will be building it up and making it much worse than it is they’ll say real estate’s going to crash for 10 years. And, you know, don’t get me started on that fake news crap right now, but but the point is, you’ve got to, you’ve got to mitigate that in your own mind and recognize they’re not there to inform us, they’re there just to scare us and startle us and, and get subscribers so and who and, you know, forgetting the political agendas, but but the point is, you know, it’s important to first of all, to stand guard at the door to your mind during that time. Okay, keep that, you know, yes, scan the headlines, see what’s going on, but don’t get sucked into it. Because what, you know, focus is absolutely critical. During that time, in fact, you know, if you’re listening to Darrin, his podcast, you’re a leader, there’s no question, you’re a leader. And right now more than ever, the world needs more leaders. And to be a leader, you’ve got to manage your focus. And that’s what I had to do back when I lost it all because it would have been very easy for me to focus on the loss. And I did for a short while. I mean, you know, it was a big hit. For me, I thought I was set for life, like I said, But I recognize the fact that whatever you focus on gets larger, both positive or negative, you know, and so, you know, if you’re, if you’re focused on on that negative crap on the news, that’s what’s going to get larger and you’re going to basically just You know, scare yourself into a corner. And, and we all succumb to this sometimes, but it’s really critical to pay attention to your focus. You know, I’ll give you a great example of this dynamic. They asked Mother Teresa, when she was alive if she was anti war, and she said, No, I’m pro peace. And I and it’s just a, you know, play on the same thing. But but you see the point there and so, you know, and I have students are not even students actually just people that aren’t students, my students know better, but but people call me and say, you know, I’ve got all the student loan debt, how do I get out of this debt? And I say, Wrong question. How do you make so much money that the debts irrelevant? Right, so So, again, focus is super, super important through this period? And, and I will tell you, you know, the most successful people on the planet are the ones that have the most enhanced focus, okay, I mean, look at people like Elon Musk and, and, you know, Bezos and and so, you know, I, my podcast just broke 13 million downloads. I’m very, very proud of this. But I listened to really two podcasts, Joe Rogan on one side and Tim Ferriss on the other. And there’s a political component to that as well, but on Tim Ferriss show, and I think he gets 13 million a week. So just to give you some, some, some framework for this podcast, but he introduced he actually interviews the best of the best in the world in every walk of life from actors like, you know, Arnold Schwarzenegger, Ed Norton, Jamie, Jamie Foxx, Hugh Jackman, to, to, you know, Olympic athletes like Phelps and to billionaires like Ray Dalio. And I started to hear a pattern in those interviews, most of them meditate, and what is meditation enhance focus, right. So again, your focus is critical. And I don’t know about you, Darrin, but sometimes I’ll be watching a movie and I’ll have my phone up, and I’ll be scrolling social media, and what does that kill your focus, right, because your brain is making these micro decisions, you know, that, you know, that, that that just kill your focus. So so the focus is a super important piece and you also have to make a decision. When when you know, if the soup really hits the fan, you’ve got to make a decision that that you’re going to focus on the positive and focus on what you want. And and bring that in because and you know, the Latin root for the word decision means to cut off if you’re going to you know, attack the island and battle you burn your ships because you’re taking their chips home, that’s, that’s a decision. It’s not a one foot in one foot out sort of thing. It’s not a dip a toe in the water, it is frickin done. And so that is you’ve got to make sure you make that decision. But you also you know, need to have positive expectation. Okay, because it’s so easy to focus on pain and struggle we actually connect through pain and struggle I’ll give you an example of this. You know, Darrin if you came up to me and said Rod, how you doing? I said oh my god, I am freaking fantastic. Life is amazing. You know, I you know Darrin you probably you’re you’re evolved you might not but most people will take a few steps back and say okay rods off his freakin meds. But if you came up to me said Ron, how you doing I sell on my on my back is frickin killing me I just lost 10 grand in the market or 100 grand in the market, you put your arm around me and say, Oh, I feel your brother, we actually connect through pain leaders cannot do that leaders have got to focus on positivity, you know, and, and really, you’ve got to make some declarations to yourself, you have to decide what it is that you want. And really focus on that and God or the universe, whatever you believe will conspire to help you make that happen. And don’t forget this either, you know, I’ve had super negative things happen to me like that $50 million loss, you choose the meaning you place on something, okay? And it can it can be a positive meaning the meaning I place on my $50 million losses, I would have never met my supermodel beautiful wife been together 15 years and she’s supermodel beautiful, I’m not exaggerating, and more beautiful on the inside than the outside. So so, you know, again, that would have never happened to give it all up again for her. So if you had a negative thing happened to you don’t don’t let that be your identity, Don’t wallow in that. You remember you change the meaning of what happens to you. Now the other thing is many of us have fears and limiting beliefs. In fact, I’m sure you’ve got people listening that have never taken action in this commercial real estate. They listen to the, to the to these podcasts, but they’ve never made a move because of fear or because of limiting beliefs. And, you know, and they’re caught in analysis paralysis many times and so, but let’s talk about fear first. You know, the thing that you need to remember about fear is we all have it but but when you take action and push through it, it mitigates and, and
and it actually diminishes the fear. And I will say something else to when you’re grateful. It’s you can’t be fearful at the same time when you’re grateful you can’t be angry at the same time. So use gratitude as well. Just take a minute and look around it. You know your home and your family and go outside and look at nature and just be grateful you can’t be fearful at the same time. So that’ll be really important through this next session, you know, now the other thing I’ll mention is limiting beliefs. You know, when I immigrated this country, I didn’t speak English and I got thrown into school and I found out what bullies were for the first time. And you know, I got my butt kicked regularly. I didn’t hadn’t learned how to fight back yet. Love to run into a couple of those guys now, but but, but the point is that my mom is, you know, proud Dutch woman that she is. Gotta be a good idea to send me to school and wouldn’t shoes in those leather shorts. The Germans were for Oktoberfest the later Hosen. So I got my butt kicked again. And then the bullies would chase me home. And she thought she was helping me when she chased him off with a flyswatter next day, but kicking, and I came up with this limiting belief that I wasn’t good enough. And the reason I bring this up is a lot of people have limiting beliefs like that I’m not good enough. I’m not smart enough. I’m not old enough, young enough, you know, don’t have enough time to do this side business don’t have the money to do it. And honestly, there’s a reason that the acronym for belief systems is BS, because 99% of them are just that BS. Now, by the way, this is something we go into a great length in my bootcamp, I, you know, I can I mentioned my boot camp real quick, Darrin, just because he didn’t have time to what I’m going to say next. So I’ve got a live multifamily three day bootcamp coming up in Denver, it’s only one I do each year, it’s going to be in Denver, July 29 30th, and 31st, three days of training, it’s not a big sales pitch, I talked about my coaching for about 30 minutes, but the other three days is all full on training, every aspect of this business from building a team to picking a market to, you know, evaluating that market, assessing it to finding deals to evaluating those deals, underwriting those to financing them to raising all the money you need for your deals to syndication, joint ventures, even property management. But the reason I wanted to bring it up is I also get into this mindset, you know, there’s a reason that my students are so successful, I’m gonna brag for a minute here, I’ve been teaching a little over four years, my students are somewhere on somewhere in the neighborhood of 60 to $70,000, that we know of, it’s probably more than that. And, and it’s because they take action with what they learn. And so I spend time in my bootcamp, helping you take action with what you learn, and dealing with fears and limiting beliefs and very powerful. And so essentially a friend of dierence. If you text my name, Rod, to 72345, and use the code Rod friend, you can come for, for $197 For three days of training, it’s truly a no brainer, okay? So, again, text Rod to 72345, or go to rodin denver.com. But but but if you but but remember, the code rod friend is one word. Now, if if the price, it’ll even hit around $700 At some point, so if you’re hearing this, and it’s much higher, if you have any trouble, just DM me on any social channel, I’m on every one of them, they’ve even got me on tick tock now, and we will, we will respond and get you taken care of. But the other thing is that actually comes with a couple of bonuses as well, I’m thrown in my document library, which I’ve paid 10s of 1000s of dollars for the documents in there and my deal evaluator software, so that all all of that 497 bucks that held those two things alone are worth 10 times that so. But anyway, the reason I brought that up is because, you know, there, there are so many people, like I mentioned earlier that are analytical, which are some of the best people in this business. Because, you know, you have to underwrite deals, you have to review deals, but they have to check off every single box before they make a move, and then they end up never making a move. And so that’s why, you know, this mindset piece is so important and why I give it I give it time at the bootcamp because it’s so relevant. But, you know, because you’ve got to take that first step, you’ve got to take that first step in this business. And when I tell you, there is a probably a once in a lifetime opportunity coming over these next couple of years. I don’t say that lightly. I missed the one in a wait night, I will not miss this one. Okay, I missed that one. Because I was hiding under a rock feeling sorry for myself, but I’m gonna tell you there will be exponential opportunities in this multifamily business. And, and so, you know, the fact we’ve already seen big price, they call it price discovery, big price reductions. You know, we had a couple of deals in the $44 million range, one of them, they dropped to 38. And we still back down, we could have had it and we were looking at it 44 But for the interest rate bump, but so so, you know, these, these prices are starting to come down. And then once they do a couple more rate bumps, you’re gonna really see some some soup, and we could end up in stagflation, which would really be ugly, where we’ve got inflation and pricing, you know, and this recession, so so, you know, it’s just, it’s, it’s so but again, back to the first step. The reason I brought that up is is you know, you’ve got to take it. You know, Dr. Martin Luther King said, You take that first step and faith the next step. will be revealed. Lao Tzu 1000s of years ago said the journey of 1000 miles begins with a single step. And in real estate, I see it with my students. It’s the law, the first deal, it’s the scariest, it’s the most stressful, it takes the longest. And then then, you know, might take eight months to get it or even a year, sometimes my students next thing I know, after they get it, they have five, I’m like, What the heck just happened? So but you got to take action. And again, action mitigate spear. So I’ve been rambling. If you want to ask me a question. I’ve gotten more, but
J Darrin Gross 20:26
No, I appreciate everything you’ve kind of laid out here. And I think the thing that I think that anybody it’s been kind of either on the sideline, or they’ve been, you know, they’ve been working hard trying to find deals. And all of a sudden, now there’s all this information, and you said it, you know, it’s important to guard your mind. Because I think it’s so easy. And I think that, you know, it’s important to recognize that all of the, whether it be the social websites or the news, I mean, it’s a known fact that like even Facebook, you know, they know that if they can get you angry, they can get you to stay engaged kind of thing. And I think a lot of the news plays that as well. So
Rod Khleif 21:06
There’s a movie about that called the social dilemma, you’ve got these, these incredible supercomputers that are smarter, they’re really smarter than we are, and they’ll suck you in and they’ll stay in. And I forgot to mention something I’m sorry to interrupt buddy, I just when you said that, I realized I forgot to mention something, you know, you’ve not only do you have to stand guard at your mind, but you have to bring in the good stuff right now. Okay, like go on YouTube and listen to inspirational videos, I do these clips on my podcast called Own Your Power, which is just about that owning your power, I just want did one on playing to your strengths. In fact, that’s one of the things I want to talk about. But but you know, and they’re five minutes, so if you give me five minutes a week, I will juice you, they’ve got music, I’m really proud of them. There are hundreds of them there. But that’s the other piece of that not just guarding your mind, but but really bringing in good stuff. Sorry to interrupt, but he please continue.
J Darrin Gross 21:53
No, but I think just to be a you have to have the awareness that the game is not set up just to give you the good stuff, the game is set up to kind of keep you engaged in, they figured out a way to do that is to make it negative and keep you in fear in you’re going to have to pull yourself away because otherwise, if you don’t consciously do that, they win. And they they get your attention. And
Rod Khleif 22:18
I’ve even found myself sucked in on some Tik Tok stuff, you know, because I’ll look at some of the political stuff, and then I get sucked in and get angry. And my and I’ve had to take a hiatus, you know, from it.
J Darrin Gross 22:30
Not I think even even like the political parties, I think that, you know, a lot of the reason why we have the issues we have right now is the parties recognize if they can make the other guy, the bad guy, and keep the focus that the other guy is the bad guy. Rather than try and find some common middle ground, they can have power. And, and so there’s, I think it’s important to understand, they don’t want a solution when they run into the problem, because the problem keeps everybody energized. And so when you when you recognize, you know, it’s in the politics, it’s in the news, it’s in the social media, it’s, it’s up to you to take control of your mind. And, you know, invest in yourself and find that positive, you know, information or whatever it is, that’s good. Want to ask you. I mean, you know, the, you mentioned, like, you know, your bootcamp and talks about meditation. And so, how, what kind of frequency Do you recognize? I mean, do you have like a routine do you recommend? Yeah, good question regularly, good question. Is it just like, you know, quarterly go to, you know,
Rod Khleif 23:35
I meditated right before this, this interview, and, and I sit in my recliner behind this green screen here. And I have this little app that I use, there’s lots of meditation apps, I use one called buzzes, pz Izz. And, and, and you can set a time, from two minutes to three hours or 10 hours doesn’t matter. And it can put you to sleep very effectively, or meditate. It’s the focus piece of the app. And, and, you know, it’s been proven that a small piece of meditation is like, exponentially more relaxing, and what’s the word I’m trying to more rejuvenating than then even sleeping, believe it or not, and so, but But right now, more than ever, again, you need to clear your head and I’m speaking looking in the mirror while I’m saying this right now, more than ever, I need to clear my head. Because, you know, I’m my business is is, you know, very often we need to innovate, we need to pivot we need to redirect ourselves, you know, when things happen, like what’s coming, and so, you know, I want to be ready for it. And you know, I’ve had to innovate in the past. I remember when coat you know, in 20, early 2020, I had 800 People scheduled to come to Orlando, and if they don’t, and many of them had paid I’m like, holy crap, what are we going to do? And if you go to multifamily virtual bootcamp.com You’ll see rod on his cell phone shooting the video to go virtual, I went virtual almost immediately. I built a studio here at my compound. But you know, this Denver one is live. I mean, that’s in person three days, but I have done some virtual ones in the past too. And so, you know, sometimes you have to innovate or pivot to, but But what you said about social media is so critical. I mean, it’s really resonating with me, because I’ve noticed it myself. You know, like, I just came back from a vacation in St. Barts, and I was scrolling through a lot of that crap at the at the pool. And, you know, it’s just because, you know, I was bored, nothing to do. And then finally, like, yeah, this, I gotta turn this thing off and read read books, because it’s just so negative. But, you know, one of the things I want to mention Darren is, as you go through this, I mean, this this relates to the multifamily business as well, I just alluded to it that I just did an on your power clip on this, you must play to your strengths, especially through what’s coming, okay. Because, you know, some of the greatest partnerships I’ve seen, I’ve entered like you, I’ve interviewed some of the best operators in the world, really in multifamily. And it’s very often it’s a partnership between several people that are all paying two or a couple people, in many cases, they’re all playing to their strengths. The most common dynamic I see is I’ll see an analytical person that’s introverted, with a more outgoing, extroverted person. Those are, you know, incredible partnerships, I’m sorry, I’m sure you’ve seen it as well. And so it’s really important that instead of trying to maximize your weaknesses, you play to your strengths, and you hire a line or partner for your weaknesses, you know, because when you’re doing what, you’re strong, and you love it, okay, and when you love it, you’re going to be passionate in it. And it’s going to require passion for you to influence people to sell to you to invest, you know, with you, and, and so on and so forth. And, you know, if you’re not sure what your strengths and weaknesses are, you can do a Myers Briggs profile or what’s called a DISC profile DIFC, you know, or just ask your friends, you know, what are your strong and weak at and in. And again, playing to that is super important, because you need that passion, you need that passion to be able to influence people, especially when they’re operating in fear. And if you’re trying to raise money for a deal, if you’re passionate about it, you know, you’ll be able to influence and that passion is actually the fuel. So it’s really important that you discover what juices you and you and inspires you and you work in that because that passion also breeds creativity and, and minimizes and eliminates fear. So that’s a creep a critical piece and one that I’ve just realized I forgot to mention super important is be careful who you’re hanging out with through this, okay? Peers are critical when I was losing everything in a wait nine. Luckily, I was in a mastermind it was actually Tony Robbins Platinum Partnership. And I was around people that were thriving through the crash and they’re like, get up your big freakin baby 50 million, million, just get up and get back to work. And that and that’s what I needed, you know. So, you know, a lot of people, you know, will just
what’s the word I’m looking for, they’ll, they’ll, they’ll just end up being friends with people they went to school with, or work with. And sometimes with people out of their fear or jealousy or fear of losing you or fear of feeling like there’ll be let you know, perceived to be less than will hold you back. And so in sometimes it’s family, and I will tell you, you know, love your family, but choose your peers, be very proactive. You know, don’t don’t Don’t be lazy about that proactively. You know, like I started a mastermind that we’re meeting next week in Houston. And it’s I think it’s the largest multifamily mastermind there is about 14 billion in assets and represented by the members and, and, you know, we meet three times a year, but I started that thing, too. Because I want to be around people that think what I think is hard is easy. And that’s what you need to be seeking out. If you’re listening to this, you need to be seeking out groups that you know, that that are that are better than you that have people in them that are better than you at what you want to do like multifamily. Because, you know, if you’re gonna play tennis, you want to play somebody better or someone worse than you, right, you’re only gonna get better if you play someone better. It’s the same thing in this business. And you want to be around people, again, that aren’t afraid of your success. You know, that’s one of the amazing things in my warrior coaching program is, you know, most of these deals, these those 60 70,000 doors were done between warriors. And you know, people will post a win and everybody’s congratulating them and you want to be in that kind of an environment where people are praising you and, and holding you accountable. So, you know, I wanted to mention that as well Darrin.
J Darrin Gross 29:35
I think it’s all you know, again, it’s grabbing hold of your mind and protecting it from all the negative information and just as you know, you’re being attacked by the negative information, see it to kind of like safeguard the door. Get some positive information, surround yourself with, with people that are going places that you know, a mindset of achievement as opposed to Woe is me. And, you know, I think then beyond that, you know, how would you see if you’ve got your mind? Right. You know,
Rod Khleif 30:07
Let me let me add something Sorry. Sorry. Sorry. Please hold your question for one second. I just remembered I forgot something else. You know, we talked about, you know, that soup is coming, it’s coming for sure. And, and you also asked me what I do, routines that I have, and I realized they really didn’t answer that question. So that recliner I was talking about, typically, most mornings, I will sit in it, and I will manifest you could call it prayer, whatever you want. But I mean, I mean, I’ve manifested some big things in my life, you know, mansions, a, you know, a million dollar home, you know, all the stupid cars, I thought were important roles in the Lambo and the in the Bentley and all that stuff that I thought was important one time, but I manifested it, and how I did it was and how I do it now is I’ll sit in that chair, and I’ll just do gratitude, I’ll just be grateful for my beautiful wife, my kids my foundation, and and then I’ll do gratitude for the things that I want as if I already have them. And I know I’m going to lose some of you analytical ones on that one, but I’m just telling you, it freakin works. And so that’s, that’s, that’s what I would call a success habit. Okay. And, you know, we’ve all got habits, and through this period, you got to be really conscious of what your habits are, because some of your habits will project your life up, and others will project your life down. And I suppose the easiest way to look at that is with, you know, what you eat and whether or not you exercise, but, but it’s really critical that if you’ve got some bad habits, that you’re consciously aware of them, you mitigate them, and focus on, you know, success habits. You know, like having clarity around your goals, you come to my bootcamp, the first hour and a half is spent is goal setting on steroids. Because how are you going to get anything if you don’t know what it is, you need to know what you want with clarity to create what Napoleon Hill in his book, Think and Grow Rich calls a burning desire, you got to really want it, okay. And so, so, you know, you’ve got to have clarity with your goals, and you should reassociate with those goals. That’s one of the things when I lost everything I, I re associated with what I wanted, why I wanted it so that I was focused on that, not what I didn’t want, you know, and, and focusing on results instead of busy work, you know, making sure that you’re, you’re actually doing the you know, looking at your to do list and using the Pareto principle, the 8020 rule to work on the 20% that’s going to get you 80% Further, you know, and then another success habit is massive freakin action. Massive Action, mitigates everything, you know, and of course, really paying attention to your health through this as well. You know, not just your, your, your your, your will, of course, your physical health, what you eat your exercise, but even your mental health, making sure you’re getting outside spending time with family, meditating, praying, whatever, is super, super important. So habits through this managing those are really important.
J Darrin Gross 32:55
But I think, you know, where I was just kind of trying to go is just, you know, not only the routine thing, but just, I think the the, the global thing is that life is always going to happen. I mean, there’s always going to be whether it be, you know, the political situation or the economic situation or whatever that is that that’s, that’s going to create opportunities, stress, you know, wins losses, that are things that I can’t control. But if I can control the mindset, and I can, you know, look forward and have it in, like you said, the focus knowing exactly what I want, and what I need to do next. And you know, the massive action thing I think is the one that is obviously the the
Rod Khleif 33:42
It mitigates fear it mitigates fear, you know, whenever I’m stressful if I take massive action, it mitigates that, you know, achievers call it stress, but but it’s really fear. Okay, and so it mitigates that stress, slash fear. And it’s really important. Yeah.
J Darrin Gross 33:58
Yeah. It’s all good. Hey, Rod, if we could. Let me ask you one. Just one more question. In the, in the whole plethora of kind of what we’ve talked about, is there one most important tool for maintaining mindset?
Rod Khleif 34:17
I think its goals. I really do. I think it’s making sure you’re focused on what you want, not what you don’t want. And that’s why again, that’s my students know this and you know, re associating with what you want on a regular basis, maybe even a daily basis. By the way, I did a if you can’t make my bootcamp I did a goal setting workshop I do it every year on the on I did on January 1 this year on the New Year’s Day, and it’s if you go to rods, links.com, rods, plural links plural.com And that’s all got all my stuff on it. But at the bottom is this goal setting workshops, got music, there’s a guide you can download. So if you can’t make my boot camp for God’s sakes, go download that and do that goal setting exercise with your spouse with if you’ve got a kid Kids that are over 10 years old, have them do it super powerful. And I’m not going to try to sell you anything, it’s just a gift. So I highly recommend you do that. Because it’s so important people spend more time planning a freaking birthday party than they do designing their lives, that’s designing your life. So I think that’s probably the most important thing, God.
J Darrin Gross 35:21
If we could, I’d like to shift gears here for a second, by day I’m an insurance broker, and I work with my clients to assess risk and determine what to do with the risk. And there’s three strategies we typically look to, we first look to see if there’s a way we can avoid the risk. When that’s not an option, we look to see if we can minimize the risk. And when we cannot avoid nor minimize the risk, then we look to see if we can transfer the risk. And that’s what an insurance policy is. It’s a risk transfer vehicle. And as such, I like to ask my guests if they can look at their own situation. And you can frame this however you like could be, you know, the market politics, the interest rates, you know, however you choose to to frame it. But if you can identify what you consider to be the biggest risk. And again, for clarification, while I am an insurance broker, I’m not necessarily looking for an insurance related answer.
Rod Khleif 36:15
Got it? Got it? No, that’s not the answer. I’ll give you Yeah.
J Darrin Gross 36:19
So if you’re willing, I’d like to ask you, Rod Khleif. What is the biggest risk?
Rod Khleif 36:25
I will tell you to, Today is June 8. And I have to say that because who knows what will happen to things are changing daily right now. But and I know this alehrer in a week or two, but But right now, the biggest risk that I have alerted my students to on several occasions is the debt markets. Okay, that I mean, it is crazy out there right now. And and I’m going to tell you that it when you’re performing a multifamily right now, you need to do some worst case scenarios, like if you’re planning on getting in, right now, the most common debt is bridge debt. And that is very, can be very honest debt. And, and because you have a business, you have a business plan, you got to adhere to that business plan. Otherwise, you know, what’s could be non recourse can become full recourse. So it’s very, very important that you do what you say you’re going to do. And some of those have short fuses like three year timelines, and we could be in the midst of this recession in three years. So I would encourage you to do absolute worst case scenarios as it relates to interest rate, you know, take out interest rate, when you refinance, we just did, we just put 138 unit under contract, by the way, if if, if you were accredited, we it’s a phenomenal deal. 54,000 A unit which is unheard of in an emerging market in Arkansas, so so if you’re interested text partner to 72345, and get on our portal, because we’ll be presenting that probably about the time this goes live. And it’ll be a very short, it’s not a big raise. So it’ll it’ll subscribe very, very quickly. But that that’s a really good deal. But the point is, you know, we did worst case scenarios, what happens if the interest rates 8%? And can we still be okay? And yes, we could and so, you know, most people aren’t doing that. Most people aren’t, aren’t stress testing these deal strongly enough? You know, and, and I think we’re gonna see some upset when I’m, we’re going to snap up some deals where they didn’t do it right. You know, and I hate to say it, but that’s likely going to happen, people are still overpaying, and they’re not paying attention to that risk. And so I think that’s the biggest risk right now. That’s the first thing I thought of when you when you prepared me for that question earlier, Darrin, because I really, that jumped right into my head. So
J Darrin Gross 38:41
Well, I think it’s definitely timely and well put and, and we’ll know more when we get there. Yeah. But
Rod Khleif 38:48
I wish I had a crystal ball to see where we are a year from now, buddy, I just like, it’s like every day, it’s something new is like, what the heck’s going on out there?
J Darrin Gross 38:56
Well, I think that, you know, like, we’ve been talking mindset, and if you have your mindset, right, and you focus on your goal, you know, and you’re, you’re prepared to take action, I think you have the opportunity here, likely, you’re gonna be in a better spot than if you did. And so I appreciate you taking the time to. Thanks for having me. Hey, Rod, before we wrap up, where can listeners go? If they’d like to learn more connect with you?
Rod Khleif 39:20
Sure. Sure. So my bootcamp, again, is it’s multifamily bootcamp, I’d say Rodindenver.com is better, rodindenver.com is my boot camp or just text my name “Rod” to 72345. Listen, it’s $197 for three days without a big sales pitch, just training. You really if and if you’re trying to learn this business, once the recession is hit, it’s too late. You need to I mean, this is probably the most important event that you can do right now to really learn this business, not an event where I’ve got multiple speakers coming in to talk about different things because you don’t learn the business that way. You get some insights, but this is soup to nuts, the business and so if you can make it for God’s sakes do you’ll be glad in fact, if you come and you don’t Love it. I don’t mean like it. I mean freaking love it. I’ll give you your money back. So no questions asked. But, you know, so that’s that’s important but if you go to rods links.com that’s got all my stuff’s got my podcast, you can quickly get that it’s got lots of free books that you can download. You know, all my social media links, everything’s there. And that’s probably the best place, buddy. Thanks.
J Darrin Gross 40:25
Awesome. Rod, again, I cannot say thanks enough for taking the time to talk today. I thoroughly enjoyed it. Learned a lot, and I look forward to doing it again soon.
Rod Khleif 40:36
Thanks, buddy. Good to see you again.
J Darrin Gross 40:38
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