73. Building Wealth Through Multifamily Real Estate: Lessons from Rod Khleif

In this episode, Dwayne sits down with Rod Khleif, a Dutch immigrant turned real estate mogul who has owned over 2,000 houses and thousands of apartment units. Rod shares his journey from humble beginnings to massive success, including losing $50 million in 2008 and rebuilding his empire. He provides valuable insights into multifamily real estate investing, the importance of mindset, and why giving back has been crucial to his success. The conversation covers everything from technical aspects of real estate investing to the psychological elements of success.

Learn more at https://rodkhleif.com/ and https://rodkhleif.com/links/

Key Takeaways

1. Success is 80-90% mindset and psychology
2. Multifamily properties are valued based on net income, making them potentially more profitable than single-family homes
3. Due diligence is critical - investigate thoroughly before investing
4. Real estate investing is a team sport - different roles include analytics, relationship building, and asset management
5. Education and mentorship are crucial - avoid "dabbling" in real estate
6. Current market conditions (high interest rates, adjustable rate debt) are creating opportunities in multifamily real estate
7. Giving back and creating value for others leads to greater success

Timestamps

[00:00:00] - Introduction and Rod's advice on investment education

[00:01:00] - Host introduction and welcoming Rod Khleif

[00:02:00] - Rod's background as a Dutch immigrant

[00:03:00] - Early real estate experience and mother's influence

[00:04:00] - Introduction to mindset importance and career progression

[00:05:00] - Discussion of 2008 losses and podcast success

[00:06:00] - Story about success, depression, and finding meaning

[00:08:00] - Discussion of charitable work and fulfillment

[00:14:00] - Information about Rod's bootcamp and resources

[00:22:00] - Discussion of real estate tax benefits and valuation

[00:27:00] - Explanation of cap rates and property classifications

[00:31:00] - Detailed coverage of due diligence process

[00:35:00] - Current market opportunities and challenges

[00:38:00] - Team roles in multifamily real estate [00:41:00] - Discussion of mentorship and education programs

 [00:44:00] - Advice for young people entering real estate – learn more in Part 2 next week

Notable Quote

"Power moves to those who serve. When you have a sincere desire to help other people grow, power, you know, that's the way God or the universe, whatever you believe, that's how it works." - Rod Khleif

"Don't squander your money. Don't put your hard earned money into something unless you've done some basic due diligence about it." - Rod Khleif

"Sometimes the best deal is the one you don't do." - Rod Khleif

"There's a reason 90 percent of the world's millionaires either made their money in real estate or invested in real estate." - Rod Khleif

"If you're not giving back in some fashion, if you do give back in some fashion, you're happily achieving." - Rod Khleif

"We've been taught to achieve to be happy. Like we shouldn't be happy until we've achieved, but if you're not giving back in some fashion, if you do give back in some fashion, you're happily achieving." - Rod Khleif

Resources Mentioned

• RodsLinks.com - Free resources and books
• Rod's Bootcamp (Code: RODFRIEND for $97 admission)
• Goal Setting Workshop
• Rod's Warrior Program (1,800+ members worldwide)
• Book: "How to Create Lifetime Cashflows in Multifamily Properties"

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