Join me and Rod Khleif on today's podcast episode. Rod is a successful real estate investor and CEO and shares his experiences in real estate, including both success and failure.He talks about the importance of mindset, determination, and commitment in achieving success. Rod also shares the value of learning from failures and encourages listeners to set goals, make committed decisions, and take action. He also shares tips for evaluating real estate deals and cautions against being overly aggressive. Be sure to comment...
Join me and Rod Khleif on today's podcast episode. Rod is a successful real estate investor and CEO and shares his experiences in real estate, including both success and failure.
He talks about the importance of mindset, determination, and commitment in achieving success. Rod also shares the value of learning from failures and encourages listeners to set goals, make committed decisions, and take action. He also shares tips for evaluating real estate deals and cautions against being overly aggressive. Be sure to comment below your favorite part of this episode, enjoy!!
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All Links HERE ➡️ rodslinks.com OR Text the word "links" to 72345 for more information.
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Video Translation: "...Well, that was 2008, 9. I actually lost conservatively $50 million in 2008-9. And so what I'm known for talking about on my show, my podcast and at my boot camps and so on and so forth is the mindset. It took to have 50 million to lose in the first place. And then maybe more importantly, the mindset, it took to recover from losing 50 million because I mean, people killed themselves for losing the same proportionately in the Great Depression and in 08 and nine and, and so happy to drill down on that some of that stuff with you, Jason if you like.
Yeah, I mean that's the elephant in the room, right? How did you lose that much money from 2006 to 2008 or nine? Sure. Sure. How did I lose it? So I was actually only at a 30% loan to value in my portfolio? Ok, so, so hold on to that for a second. Ok. So I had 800 houses and I had several apartment complexes. My houses were along the Gulf coast of Florida. So two hours north of me, two hours south of me and everywhere in between. And and so that was a problem. They were too spread out that that was one issue but the the other issues were, you know, it's Florida has no state income tax. So, so property taxes are proportionally higher. I had properties in wind and flood zones. So insurance is higher, both impact cash flow obviously. And I will tell you houses just don't cash flow as well as as as multifamily. They just don't because you have your own insurance policies, your own tax bills and, and maintenance is, is more challenging. But then that's the main thing. What killed me was maintenance if I sent somebody and these, these were C class houses. So these are older, you know, this ABC and D A is brand new D is the hood. Stay out of the hood. Ask me how I know. Ok, but these are C class, so they're older. Ok. They have more maintenance. Right. They have more, more upkeep. and it's a tougher demographic than on an, a class asset. They're harder on the property. So, a lot more maintenance. But here's the problem. If I sent somebody to one of my apartment complexes, everything's the same plumbing parts, electrical parts. HV, ac parts, appliance parts..."
