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Senior Housing at $40K a Room with Rod Khleif · Real Estate Investing with RealDealCrew

• 0:00
  There are assisted living buildings trading right now at $40,000 a room.
• 0:04
  You cannot build one for less than $250.
• 0:08
  Rod Cleef is buying seven of them,
• 0:11
  and this is the same guy who lost $50 million in 2008 and rebuilt from zero.
• 0:18
  In this episode, you'll learn why he went back to senior living housing after
• 0:22
  walking away from it.
• 0:24
  how he vets an operator before he wires a single dollar
• 0:27
  And the $25 parking spot that added $750,000
• 0:33
  of value in one apartment complex.
• 0:35
  Systems for your investing business are waiting for you at RealDealCrew.com.
• 0:42
  Let's get started.
• 0:47
  Well we have Rod Cleef back on the show.
• 0:50
  Rod, you can learn a lot at Rodcleef.com,
• 0:53
  but Rod has an unbelievable opportunity for everybody.
• 0:57
  Six thousand dollars in value for twenty five bucks.
• 1:01
  it's kind of a no brainer. So I've Rod,
• 1:04
  where can they find that?
• 1:05
  Yeah, no, listen, what it is is I have a virtual two-day boot camp where
• 1:09
  I teach people how to buy commercial real estate,
• 1:11
  multifamily senior housing, and so on.
• 1:13
  And it's twenty-five dollars and I don't sell anything there.
• 1:16
  So it's two days of training, nothing being sold,
• 1:18
  but the bonuses are sixty three hundred dollars because it comes with
• 1:22
  my fifteen module multifamily wholesaling course,
• 1:24
  you know, wholesale multifamily,
• 1:26
  my courage and confidence course,
• 1:28
  which is like eight or nine modules,
• 1:29
  my finding deals course.
• 1:31
  my document library with all my scripts and templates,
• 1:34
  my best-selling book, my deal evaluator software.
• 1:37
  I mean it's ridiculous. And it's all that for 25 bucks and and you get two days
• 1:40
  of a boot camp. So if you're interested in that,
• 1:42
  go to rodslinks.com. That's rodsplurolinksplural.com.
• 1:47
  And if you're driving, text links to 72345.
• 1:50
  And that's my link tree. The boot camp site is there.
• 1:53
  There's a free library of incredible books that are there.
• 1:57
  my social media is there, my podcast link is there,
• 1:59
  and I'm blessed to host now the largest real estate podcast really in
• 2:02
  the world for commercial real estate,
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  which just blows my mind. But yeah,
• 2:05
  all of that is there at Rod's Links and the boot camp is is coming up.
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  I I have one in about six weeks.
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  so you know, and again it's virtual,
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  you can do it at home. So thank you for letting me mention that right out
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  of the out of the gate, brother.
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  I appreciate that.
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  absolutely.
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  I I have to g give a lot of kudos.
• 2:20
  Like you invited me to a virtual event a while back and it was probably
• 2:25
  one of the best ones I've been to.
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  Like it just crammed full of information.
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  that's kind of you to say.
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  So it's it's always good
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  Thank you.
• 2:32
  to talk to you about that. The one of the things that strikes me is
• 2:35
  is that you bring up senior housing.
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  This is kind of a is this a relatively new endeavor for you or or what's
• 2:41
  got you attracted to
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  Yeah.
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  that?
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  Well, listen, it's kind of funny.
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  It's full circle. Because back in 2007,
• 2:48
  I was very interested in senior housing.
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  At that time I had 800 houses.
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  I had several apartment complexes.
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  And I got the domain name affordable senior housing dot com.
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  I hired a team. I was out there,
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  I was looking at senior housing.
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  I got my my ALF administrator's license here in Florida.
• 3:03
  I did the multiple day course.
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  And then 08 happened. And I don't know if you you heard me talk on the show.
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  I lost $50 million in 08. I lost everything.
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  And so I kind of fell off of my ALF endeavor.
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  And now I'm back to it. Because I love seniors.
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  And I believe you have to love seniors to do a s a senior housing.
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  And so yeah, I've already purchased two assisted living facility memory care units.
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  We've got at this point we have five more under contract.
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  We should close one today or tomorrow,
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  and then the other four by the end of the month.
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  Listen, I'm super excited about it,
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  Jack, because there's eight, ten thousand people a day turning 80 in this country,
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  and there's a huge shortage of beds.
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  There's a huge need. Right now,
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  it's projected that we're only building about 4% of what's needed.
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  And so, you know, and and the deals are,
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  there's some incredible deals out there right now.
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  This this package we're buying,
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  we're paying 40,000 a unit, which is a room.
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  40 a unit is a room. 40,000 unit.
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  You can't build them for less than 250 to 350,000 a room.
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  And so we're we're and they're great,
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  they're really nice buildings and they're they're occupied,
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  everything else. I mean it's a screaming deal.
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  In fact, it's the best deal I've ever done,
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  candidly. In fact, we had to downplay it on our Proforma.
• 4:13
  You know, our we could have put it out there at 95% occupied after it's stabilized
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  because our operator's 99% oper occupied,
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  but we did it at 85 because it look would have looked ridiculous if we did it at 95.
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  And so
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  Yeah, it's the first time I've ever had to do that.
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  But no, I love the asset class and and you know,
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  and I happen to love seniors as well.
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  So, you know, it's and and there's just a huge tailwind with it,
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  you know. It's c it's called the silver tsunami,
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  a silver tidal wave of people retiring.
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  And so it's very exciting. Yeah.
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  Yeah, are you finding these as local
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  It's the baby boomers, basically,
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  obviously. Yeah.
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  mom and pop operations or how are you how are you sourcing these?
• 4:49
  No,
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  yeah, good good question. th this one w the package we're buying,
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  we're actually buying from the largest operator on the country.
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  I have to keep a little bit on the DL here,
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  but but but yeah, no, no, they're there this operator is is their focus
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  now is larger amenity laden communities where these aren't.
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  these are, you know, forty to a hundred units and
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  And it's just not in their wheelhouse anymore,
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  so they're unloading them and it just we just got a great deal.
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  But yes, mom and pops are out there as well.
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  There were a lot of of facilities that got decimated by COVID and sadly,
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  and so you know, and some of them didn't recover.
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  We bought one in Pittsburgh that was completely empty.
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  We had to relicense it and get it going again,
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  which you know, it's a lot of work,
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  but it's going very, very well.
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  Really, in the business it's more about the operator than anything else,
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  like the management company and
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  You know, we were v very, very selective in who we've chose.
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  So I'm only doing the real estate piece,
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  raising money, buying the facility,
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  and then we partner with the operator that that does the senior care.
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  And so, you know, with the operator,
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  I'm looking at culture. I'm looking at,
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  you know, how well do they validate,
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  train, educate, inspire their employees because there's high turnover with with
• 6:00
  caregivers because they don't pay a lot.
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  And so, you know, the culture is super important.
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  And I've I've built some large companies and
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  did a lot of focus on culture successfully and so you know I I knew what
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  to look for and ask and and then I look for operators that have gone full cycle
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  on deals as well, meaning they've bought the deal,
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  they've they've stabilized it,
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  built it up and sold it. That's full cycle,
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  buy and sell. And and so, you know,
• 6:23
  these operators have done that very successfully.
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  And so yeah, I've been to both of the last two senior housing conferences
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  for it's called NIC, don't ask me what it stands for,
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  but they're the big senior housing conference.
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  So there's like five thousand people there and
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  To to meet operators and interview operators to find these two that we're using now.
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  the six that we're buying right now are in Texas,
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  San Antonio, Houston, and Dallas.
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  So yeah, that's that's that's where they're at.
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  And yeah, no, I love the asset class,
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  buddy. And and like I said, multifamily,
• 6:54
  you know, my I'm known for multifamily.
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  Let me brag for a minute. Since I've been on,
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  we discovered something that just blew my mind.
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  Right now, my students were counting how many units they own.
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  We're at three hundred and five thousand.
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  So we know it's a lot more than that because lot of people don't reply.
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  But 305,000 is more than everybody else that teaches this combined by a lot,
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  okay? Student success. So very proud of that,
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  man. We just discovered that a couple weeks ago.
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  And so yeah, so but so I'm known for teaching multifamily,
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  and multifamily is in a tail tailspin right now.
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  There's lot of operators in trouble,
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  a lot of deals that the deals are coming,
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  and they're deals that are here already.
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  properties that are going into foreclosure.
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  My SEC attorney got six foreclosures in one day a few months ago.
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  I mean it's it's it's it's you know really like a train wreck happening
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  in the space, but of course with crisis comes incredible opportunity,
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  as you know. I mean you you want to be a contrarian investor.
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  now is the time to buy. You know,
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  think about Warren Buffett's famous quote,
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  be fearful when others are greedy.
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  Been a lot of greed these last few years and people overpaid
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  and got horrible adjustable rate debt.
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  But the flip side of that quote is be greedy when others are fearful.
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  And right now there's a lot of fear.
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  And so now is the time to get into this business in a big way,
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  because the deals are here and there's a lot more coming.
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  There's about a trillion dollars worth of debt coming due by next year.
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  And you know, when the debt comes due,
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  meaning a balloon payment, they have two options.
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  They can either sell or they can refinance.
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  Well, sales are down about ninety percent,
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  and refinancing is next to impossible because they have to meet debt service
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  coverage requirements, meaning the property's ability to service the debt.
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  And with these interest rates,
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  they can't do it. So yeah, it's a it's a real opportunity there as well,
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  multifamily as well as senior housing.
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  So there there you go.
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  Yeah, well you
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  kind of broached the subject there because in this could be kind of in my market,
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  but I I just don't recall seeing such a I'm gonna just
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  say weird environment lately. Not no not only in the multifamily
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  but the single family homes. Like it's it's kind of been a little hard
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  to predict some of some of this where,
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  you know, it my market, we're in the
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  steady Midwest where you just things are just kind of status quo.
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  It you can kind of expect certain behavior,
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  but are are you seeing that as well where it's just all over the place?
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  yeah. Right now, right now,
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  builder b new home builder inventory is the highest it's been since
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  two thousand nine after the Great Crash.
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  my son just closed on a house last week and it took him about four months
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  and the builder was very accommodating.
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  He's like, No, we're not gonna blow the contract out.
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  We're very happy you're under contract.
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  It I had to help him get qualified,
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  but but no, I mean the houses market,
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  the housing market is is is suffering right now.
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  Now the course there's some geographically specific
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  nuances to it depending on where you're at.
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  Silicon Valley, they're killing it with all the A well I you know,
• 9:48
  I might be wrong with that. I'd heard they were,
• 9:51
  but then I I sit and think about all the layoffs that they've had,
• 9:53
  so maybe that's not accurate. you know there have been and we were gonna talk about
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  AI, which of course is your wheelhouse,
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  but on the housing side, you know,
• 10:02
  the rates haven't come down, you know,
• 10:04
  but to give people perspective,
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  Jack, I I mean when I was 18 the interest rates were 18%.
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  And I remember doing backflips when they hit 7%.
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  Okay, so just to give you some context.
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  But the problem is pricing both in single family residential and
• 10:19
  in multifamily has not adjusted to these higher interest rates,
• 10:23
  which will ultimately have to happen.
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  And you know, the other thing that hasn't happened is the expense ratio
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  is very high right now. I used to teach a 50% expense ratio
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  for a multifamily property. I now teach 60 to 65%.
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  So they ha that hasn't reached equilibrium either because rents have dropped
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  and expenses have gone up. Hell,
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  I used to pay maintenance supervisors 28 bucks an hour,
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  now I pay 40. And so, you know,
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  that hasn't reached an equilibrium yet either.
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  And and that's causing distress in the market as well.
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  So it's it's kind of like the perfect storm between the adjustable rates
• 10:55
  you know that people got that are killing them right now,
• 10:57
  expenses going through the roof,
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  rents dropping because there's been a lot of absorption,
• 11:01
  there was a lot of building these last couple of years.
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  is really kind of creating the perfect storm in multifamily and
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  and the most incredible opportunity we'll probably see in our lifetimes candidly
• 11:11
  to pick multifamily up as well.
• 11:13
  So it's a it's a it is an opportunity laden environment right now.
• 11:18
  So if you're sitting on the sidelines thinking,
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  you know, not happy with your job,
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  or maybe you're happy but you know you want more,
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  for God's sakes, pick a vehicle.
• 11:25
  You could buy businesses too, Jack.
• 11:27
  There's 10,000 people a day turning 65 in this country right now.
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  Okay? They have businesses that they want to sell,
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  a lot of them.
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  And so there's opportunity to buy businesses,
• 11:36
  opportunity to buy multifamily that's distressed.
• 11:38
  And they're, you know, they're selling it for less than the than the that
• 11:41
  it costs to build it. Okay? So that's an opportunity.
• 11:44
  Senior housing, incredible opportunity.
• 11:46
  So, you know, pick your vehicle and go learn it.
• 11:50
  If it's multifamily or senior housing,
• 11:52
  get your butt to my boot camp.
• 11:53
  But but whatever it is, go learn it because the opportunity is here.
• 11:57
  And here's the other thing, you know,
• 11:58
  you're in the AI space. Pick up a business.
• 12:02
  And introduce social media. You know,
• 12:04
  there's a lot of these old people can't even spell the word technology,
• 12:06
  and they've got businesses, and they haven't it they haven't embraced
• 12:10
  or really maximized their social media.
• 12:12
  And now with AI, social media is infinitely easier.
• 12:15
  And we can talk about that, what we're doing in my platform.
• 12:18
  And so, you know, you have such an opportunity to get one of these aged businesses
• 12:23
  that's been successful, that's got a track record,
• 12:25
  that's got some success in the past,
• 12:27
  and ramp it.
• 12:28
  Bringing technology into it and social media into it and decent marketing into it.
• 12:34
  So, like I said, the opportunities are are really extraordinary right now.
• 12:38
  So if you're sitting on the sidelines,
• 12:40
  stop. Go make something happen.
• 12:42
  And you know, there's a lot of jobs being threatened by AI as well.
• 12:45
  I feel sorry for you know these kids that are in school for medical,
• 12:49
  legal, IT, architecture, engineering,
• 12:53
  a lot of these jobs are going by the wayside.
• 12:55
  And and and so
• 12:56
  You know, and and even jobs with with tenured people.
• 12:59
  So if you're in possi if you're in one of these jobs that could get taken away,
• 13:04
  for God's sakes, pick a side hustle and get started learning it now,
• 13:07
  before the shoe drops. So yeah,
• 13:10
  but but there's a credible opportunity in AI as well.
• 13:13
  I mean, you know, embrace that if if you're in IT for sure.
• 13:16
  But anyway, I'll get off my soapbox here,
• 13:19
  but yeah.
• 13:19
  No, I appreciate
• 13:20
  the soap b box. There's a lot to unpack
• 13:23
  Yeah.
• 13:23
  there. You know, let's let's go back to the senior housing.
• 13:26
  Since you're kind of full circle going back to that,
• 13:29
  that's always interesting the the operational lift that you probably went through
• 13:34
  with especially with your team and to find the partnerships you
• 13:38
  did because you're looking for those operators.
• 13:40
  Can you talk a little bit about
• 13:43
  Making that selection, what you went through and making sure it's
• 13:46
  Sure. No. Yeah.
• 13:48
  Sure. Yeah. In fact, we came real close with an operator and discovered they were
• 13:52
  nefarious at the tail end. We were gonna do a deal with them.
• 13:56
  It was a great deal. They had found it if in you know in their defense.
• 14:00
  But then at the last minute, and we had raised started to raise money
• 14:03
  and last minute they decided they want to do it by themselves and then they said,
• 14:06
  Yeah, we'll do the next one with you and I'm like,
• 14:07
  nope. That's a huge red flag. We're done with you.
• 14:10
  And
• 14:11
  So, you know, when we interviewed these operators,
• 14:13
  I found out, you know, there were several things I did.
• 14:15
  Number one, you know, were they geographically specific?
• 14:18
  What's their track record? How do they motivate and and what's their culture
• 14:23
  basically? How do they motivate,
• 14:24
  educate, inspire, validate their employees?
• 14:27
  What do they do? What does that look like on a consistent basis?
• 14:30
  Is it just day one where they walked with somebody or is it continual?
• 14:33
  I want to see continual training and education and and validation and ways to
• 14:38
  you know, encourage and people get people do more for a that a boy than they
• 14:42
  do for a bonus. Okay. And I know I've learned this over the years.
• 14:44
  You know, I've built 30 businesses so far in my career.
• 14:47
  And and so, you know, I those are the things I looked for.
• 14:51
  And then, you know, what they're in what their what their C level team look like,
• 14:55
  what their you know, just their thoughts on management and the deals they've done,
• 15:00
  of course. you know, they've gone full cycle.
• 15:02
  Where do they have assets now?
• 15:04
  What are their occupancy
• 15:05
  rates, what struggles have they had,
• 15:07
  you know, just like interviewing a person really.
• 15:09
  But, you know, those are the kinds of questions.
• 15:11
  I had a whole list of questions I went through at these
• 15:13
  NIC conferences with operators.
• 15:15
  We we we literally booked ourselves 30 minutes apart and met with operators
• 15:19
  the whole time we were there. And you know,
• 15:21
  and and so that's kind of how we've done it.
• 15:24
  And you know, the nice thing about building a relationship with an operator,
• 15:28
  they get deals sent to them all the time.
• 15:30
  So they they are a source for deals as well.
• 15:32
  So, you know, if you can raise the money and bring the money to a deal,
• 15:35
  you're very attractive to an operator.
• 15:38
  Now, some will step in and just do the management for a management fee.
• 15:41
  I don't want that. I want somebody that's got skin in the game.
• 15:43
  Our operator's putting a million dollars in.
• 15:46
  so he has got skin in the game.
• 15:47
  In fact, th this deal's so good the broker that sold it to us is putting money
• 15:50
  in it. He has already has. He's already d wired it over.
• 15:53
  So, you know, it's you know, that kind of stuff is out there.
• 15:56
  you gotta hunt for it and you've got to build relationships.
• 16:00
  But that's kind of stuff's out there in a multifamily as well.
• 16:02
  You know, I I I have a 200 unit asset apartment complex in San Antonio.
• 16:07
  Right next door is a 300 unit,
• 16:08
  sold for 43 million in late 21 or early 22,
• 16:12
  sold for 43 million. The bank got it back,
• 16:14
  they offered it at 28 million,
• 16:16
  43 to 28. I wasn't interested and got down unless it got down to twenty-four.
• 16:21
  Now somebody bought it between twenty-four and twenty-eight.
• 16:23
  I was disappointed because I really kind of wanted it.
• 16:25
  But but that's what's out there right now.
• 16:27
  Okay, so you know, again.
• 16:29
  These deals are being sold for less than they cost to build.
• 16:31
  And I told you I'm paying forty thousand a unit for that ALF portfolio.
• 16:34
  And I had somebody call me that,
• 16:36
  you know, I've got a big reach and they called me and say,
• 16:38
  Hey, you want to raise money for this ALF I'm building in Orlando?
• 16:42
  And I'm like, sure, somebody show me the numbers.
• 16:43
  Three hundred and fifty thousand a unit,
• 16:46
  okay? Is what is what the numbers were.
• 16:48
  And I'm paying forty. So yeah.
• 16:49
  Very exciting.
• 16:50
  Hm.
• 16:52
  Yeah, one of the things that I've noticed and this might be
• 16:54
  By the way, by
• 16:54
  the way, it sorry to interrupt.
• 16:57
  By the way, if you're accredited,
• 16:59
  there's still a couple of slots left.
• 17:00
  I don't know if there'll be any when this airs,
• 17:02
  but if you're accredited, text the word partner to seven two three four five.
• 17:07
  That's how you can check out that one.
• 17:08
  And we're we've got another one going under contract right now that looks great too.
• 17:11
  It's a mile away from one of the ones we're buying.
• 17:13
  So again, you pet text partner to seven two three four five
• 17:17
  and if you're accredited. but anyway,
• 17:19
  sorry interrupted, brother.
• 17:21
  No, I was actually gonna talk to you a little bit about th the landscape again
• 17:26
  is the we've been seeing like the smaller properties are are being kind
• 17:32
  of inflated in my market regarding the price,
• 17:35
  like things that people wouldn't wouldn't consider because the numbers went pencil.
• 17:39
  Are are you talking about multi
• 17:40
  multifamily multifamily or or senior housing?
• 17:41
  Well, like I would say let's
• 17:43
  let's say like fourplex and less.
• 17:45
  The some of those properties have been kinda
• 17:47
  Hmm. Well
• 17:48
  like people are kind of fighting over them,
• 17:51
  but nobody's actually looking at the
• 17:53
  Well of course those are residents
• 17:55
  bigger the bigger properties, you know,
• 17:57
  million plus opportunities in my in my area.
• 17:59
  Huh. Well yeah,
• 18:01
  I don't I don't know. I I I don't I don't know you know,
• 18:03
  what's happening in your in your specific sub market,
• 18:06
  but you know, when you're talking fourplex or less,
• 18:09
  that's residential multifamily,
• 18:11
  which are fantastic for an owner occupant.
• 18:13
  My daughter bought a triplex not long ago and you know,
• 18:16
  it's five percent down. And it's fantastic for that situation.
• 18:20
  but
• 18:21
  And you get 30-year fixed financing,
• 18:23
  low-down payments. So, you know,
• 18:24
  duplex, triplex, fourplex, if your northeast is two family,
• 18:27
  three family, four family. And so those are great for that.
• 18:30
  But here's the problem: the value is based on comparable sales,
• 18:34
  which you have no control over.
• 18:36
  When you go five units or larger,
• 18:38
  the value is based on a multiple of the net income,
• 18:40
  which you can absolutely impact.
• 18:41
  And so
• 18:43
  You know, I'll give you an extreme example of this.
• 18:45
  I've got a 296 unit asset in San Antonio.
• 18:47
  We call them assets, apartment complex,
• 18:49
  296 units. And a towing company agreed to paint numbers on the parking spaces
• 18:54
  for us. And we told the tenants,
• 18:56
  hey, 25 bucks, you can have a spot right in front of your unit,
• 18:59
  first come, first serve. We had 100 people take it.
• 19:01
  At that time, that property properties like that when we're trading or selling
• 19:06
  for a 4% capitalization rate.
• 19:08
  Now it's much higher than that now,
• 19:10
  but at that time it was four percent.
• 19:11
  That was a a hundred people paying 25 bucks a month was a $750,000 increase
• 19:18
  in value instantly. And we didn't even pay for it.
• 19:20
  The towing company paid for it to have the towing contract.
• 19:23
  So d now now some of you are listening are going,
• 19:26
  Well, this guy's an idiot, Jack.
• 19:28
  He can't do math. Well, let me give you the math,
• 19:29
  okay? So you take the 25 times 100,
• 19:33
  2500, and then you annualize it.
• 19:35
  That's 30,000. Those of you that are doubting this.
• 19:38
  Go in your calculator and put in 30,000 and divide it by 4%,
• 19:41
  see what you get. That's the math.
• 19:43
  And that's the beautiful thing about what we teach,
• 19:45
  which is multifamily real estate,
• 19:47
  because you can massively impact the value through your efforts,
• 19:51
  and that's what's done. It's called value add purchasing.
• 19:53
  And I mean, I can give you numerous other examples.
• 19:55
  Same complex. The manager walked around and found 50 pets that we love pets,
• 20:00
  but you're gonna pay 25 bucks a month to have them.
• 20:02
  That was a $450,000 increase in value.
• 20:04
  I had a property.
• 20:06
  get destroyed by a tornado, a hundred and one units,
• 20:09
  completely wiped out. Nobody died,
• 20:10
  thank God. But we got six hundred dollar rent bumps there.
• 20:13
  That was a ten million dollar increase in value.
• 20:17
  Once we rebuilt it, we got those rent bumps.
• 20:19
  Ten million dollar increase in value on a hundred and one units.
• 20:21
  So that's what's possible. Now that's a of course that's a very extreme example.
• 20:25
  Not let me give you that. But but that's what's possible in this business is,
• 20:28
  you know, your ability to ramp the value through your efforts.
• 20:31
  So
• 20:31
  And same with senior
• 20:32
  Mm-hmm.
• 20:32
  housing. Any any increase on the net income obviously is the it's the
• 20:35
  sa if pretty much any commercial real estate value is based on net income.
• 20:40
  So yeah.
• 20:41
  Well, it it's really important to call that out.
• 20:43
  Like the it sounds like rental sp a a parking spot for twenty five bucks.
• 20:48
  That doesn't sound like a b a big thing on on its surface,
• 20:52
  but when you have it to that to that level,
• 20:55
  I mean it the bottom line changes so drastically.
• 20:59
  It it's if you find that some of these levers and details are interesting,
• 21:06
  you really need to take advantage of Rod's offer.
• 21:08
  And what was that
• 21:10
  You are alleged Rod's listings,
• 21:12
  Yeah, it's
• 21:12
  said
• 21:12
  it's it it's Rod Rodzlinks. Rodslinks.com has got all my free resources,
• 21:18
  my boot camp site, my podcast link,
• 21:20
  bunch of free books. In fact, if you even if you're not interested in real estate,
• 21:24
  my goal setting workshop is there.
• 21:26
  You know, people spend more time planning a birthday than they
• 21:28
  do designing their lives. Have your go there,
• 21:30
  do your goals. It's about an hour process.
• 21:32
  There's a guide you can download.
• 21:33
  I'm not gonna try to sell you anything.
• 21:35
  Do your goals. Have your spouse do their goals.
• 21:37
  Have your kids, if they're over ten years old,
• 21:39
  do it.
• 21:40
  You'll leave so motivated, you'll be coming out of your skin.
• 21:42
  So if you're sitting on the sidelines and you know you need to take some action,
• 21:46
  go do the goals because that's how you're going to create the hunger
• 21:48
  and the burning desire to actually push through your fears.
• 21:51
  Maybe get uncomfortable. You know that comfort zone's a nice warm place
• 21:54
  and nothing grows there, right?
• 21:56
  So go do your goals, go to Rod's Links.
• 21:58
  and ideally go come to my boot camp.
• 22:00
  The first thing we do at my boot camp is goal setting on steroids,
• 22:03
  because how do you get anything if you don't know what it is?
• 22:04
  So st we start with that. But even if you're not interested in real estate,
• 22:08
  Go do your goals, have your spouse do them.
• 22:09
  Like I said, get aligned, design your life,
• 22:12
  get motivated, and go make something happen.
• 22:16
  If you found some value in what we're chatting about so far,
• 22:18
  do us a favor, share this with one of your friends.
• 22:20
  If you're watching us on YouTube,
• 22:22
  give us a like and subscribe. So let's would you mind spending a little time talking
• 22:28
  about y that big downtime that you experienced where you'll you lost everything?
• 22:33
  And how did you get into the mental space to like push forward and get back
• 22:40
  on the horse? Because
• 22:41
  When when somebody has that level of disruption,
• 22:44
  I would imagine your compass was a completely out of whack at at one point.
• 22:48
  yeah. no, it was it was ugly. You know,
• 22:49
  I thought I was set for life. I had 800 houses,
• 22:52
  I had multiple apartment complexes,
• 22:53
  the whole thing imploded. And what I realized in all of that was
• 22:57
  the houses that pulled me down.
• 22:58
  but I had cross-collateralized packages of houses with multifamily property,
• 23:02
  so I lost everything. And, you know,
• 23:04
  how I recovered from that is what I teach because it's the same methodologies
• 23:08
  to get started. Okay. I reassociated with my goals.
• 23:12
  If you haven't gotten started,
• 23:13
  you need to do your goals. So that's why I suggested that a minute ago.
• 23:16
  But I reassociated with my goals.
• 23:18
  Then I made a decision to get out from under the rock I was hiding under
• 23:21
  and and kick and and make something happen.
• 23:24
  And I took the first step. And that's what you've got to do as well.
• 23:27
  If you've you've got to make a decision,
• 23:28
  enough is enough, and take that first step.
• 23:30
  Then I got around the right people.
• 23:32
  You know, my coaching program,
• 23:34
  my warrior program, is extraordinary because everybody's lifting each other up.
• 23:37
  That's why it's the most successful coaching program on the planet.
• 23:40
  Literally, I can say that now,
• 23:42
  more than everybody else combined by student success.
• 23:45
  And it's because of that environment.
• 23:46
  So you gotta get around people that want more out of life.
• 23:48
  A lot of people hang out with naysayers and you know,
• 23:51
  that that will hold you back because they're afraid of losing you.
• 23:53
  So many people default to a peer group they work with or went to school with,
• 23:57
  and those people may have
• 23:59
  You know, their own fears, their own limiting beliefs,
• 24:01
  and they'll hold you back, like I said.
• 24:02
  And sometimes it's family. I'll tell you,
• 24:05
  love your family, but proactively choose your peers who you'll allow
• 24:08
  to influence you. And then you know,
• 24:10
  you've got to take that, like I say,
• 24:12
  you take that first step. and Dr.
• 24:14
  Martin Luther King said, you take that first step in faith,
• 24:17
  the next step will be revealed.
• 24:18
  And you know, if you're listening to the show and you're analytical,
• 24:21
  and I love you, you're some of the most successful students I have,
• 24:23
  but you know how you have to check off every single box before you make a move.
• 24:27
  Well, you can't do that because you're never going to start.
• 24:29
  So you you've got to recognize that,
• 24:31
  you know, you can drive all the way across the United States at night with your
• 24:33
  headlight only seeing 50 feet in front of you.
• 24:35
  You know you can make it. You know other people have made it before you.
• 24:39
  You may have some obstacles, but you know it can be done.
• 24:41
  It's the same way with this business or any business,
• 24:43
  but you got to take that first step.
• 24:45
  Get around the right people. And then lastly,
• 24:47
  I'll say play to your strengths.
• 24:48
  Okay, your strengths are your greatest assets.
• 24:50
  In my business, you're not gonna do it by yourself.
• 24:53
  You know, you could be the person that finds the deals.
• 24:56
  If you're analytical, but you could be the one that underwrites the deals.
• 24:58
  If you're, you know, outgoing and an extrovert like myself,
• 25:02
  you could be the one that builds relationships with brokers and investors.
• 25:05
  If you're man if you've got management experience or project management experience
• 25:10
  or construction experience, you could do the asset management after you buy it,
• 25:14
  where you're managing the property management companies.
• 25:16
  Just a lot of different hats you can wear,
• 25:17
  but you want to play to your strengths.
• 25:19
  Your strengths are your greatest assets.
• 25:21
  Hire a line or partner for your weaknesses.
• 25:24
  And success is inevitable. and you know,
• 25:26
  when you're playing to your strengths,
• 25:27
  you're passionate, and passion is required to influence people.
• 25:29
  So yeah, there you go, brother.
• 25:33
  Well, we're gonna touch a little bit about AI.
• 25:35
  Like you did you find yourself a little out of the comfort zone regarding that,
• 25:41
  or how is your team leveraging this new frontier in your operations?
• 25:44
  Well yeah,
• 25:47
  luckily, you know, my daughter is Mensa,
• 25:50
  if you know what that is, she's brilliant,
• 25:51
  literally brilliant. And so she's on my team,
• 25:53
  she's helping a lot. And then I've got a just a kick-ass marketing director
• 25:57
  who has embraced AI in a big way.
• 25:59
  We've got two open claw laptops going,
• 26:01
  one for my acquisition business in the real estate,
• 26:04
  and one going for my you know,
• 26:05
  my coaching business. And you know,
• 26:07
  it's now it has been configured to do about ninety percent.
• 26:11
  of our marketing. Okay. His name is Jarvis,
• 26:14
  the agent there, and and I literally get emails from Jarvis four or five times
• 26:18
  a day reminding me what I need to do,
• 26:20
  giving me stats on what's happening.
• 26:21
  And last a week ago, Wednesday,
• 26:24
  I got cloned. Okay. So you might,
• 26:27
  if you see me out there, it may not be me much longer.
• 26:30
  I I got cloned and and the cloned videos look really good.
• 26:33
  We're shooting some more, I was I'm a little too sober,
• 26:35
  I'm a little too stoic, and I'm not known for being stoic or sober.
• 26:39
  So we're gonna shoot some more Wednesday where I'm more animated
• 26:42
  and talking and really moving around like I'm doing right now.
• 26:45
  And, you know, and I hope those turn out well.
• 26:47
  But we're gonna be throwing a lot of content out there,
• 26:50
  adding a ton of value, but in very often it may not be me moving forward.
• 26:54
  So that's super freaking exciting.
• 26:55
  But you know, we've been focused on the marketing right now.
• 26:59
  We've we've we've my my
• 27:01
  you know, the guy I was talking about has met with my operational people,
• 27:05
  my my VAs that do a lot of the work,
• 27:07
  my accounting person, my operations person,
• 27:09
  and and and he's gonna start, you know,
• 27:12
  implementing a lot of things on the operational side,
• 27:14
  which have not happened yet because we need to focus on marketing right now,
• 27:18
  but it's been super exciting. You know,
• 27:20
  I was telling you I I Tony Robbins is my greatest mentor.
• 27:23
  I spent twenty six years with him.
• 27:25
  I was on his team for eight years and
• 27:27
  I saw him talking, interviewing or talking to somebody notable,
• 27:30
  I forgot who it was now, but he was talking about how his agent,
• 27:33
  they're in this, he's the agent is in this group of other agents talking
• 27:38
  to each other electronically, and his agent bought a robotic dog to pair up with,
• 27:44
  and the dog actually got bought and delivered to his house.
• 27:47
  And he's like, What the hell is happening here?
• 27:49
  So the agent is proactively wanted to connect with something sentient.
• 27:54
  yeah, I sent I don't know if sentience the right word,
• 27:56
  but something actually physical.
• 27:57
  And I mean that's some crazy shit going on.
• 28:01
  You know, I go to Miami, my place in Miami,
• 28:03
  and I'm seeing all these driverless cars.
• 28:04
  I see these little boxes delivering food that are driverless.
• 28:08
  I mean, we are in a different world,
• 28:10
  guys. And of course, Elon is gonna blow the lid off this thing with his you know,
• 28:14
  Optimus robots here in short order,
• 28:16
  but everybody's gonna have robots.
• 28:17
  I'm I
• 28:18
  Certain within five years there'll be more robots than humans,
• 28:21
  and and you know, hell, I had robotic surgery on my stomach 15 years ago.
• 28:28
  So, you know, and and can you imagine how much better all that is now?
• 28:32
  And so yeah, it's it's it's exciting times,
• 28:35
  Jack. I gotta tell you. You hear about how they could end the world
• 28:39
  and crap like that. I try not to think about that,
• 28:41
  but but
• 28:42
  Right.
• 28:43
  You know, I I listened to a great interview on Joe Rogan with Andreessen,
• 28:47
  the V C guy, Mark Andresen, you know I'm talking about his Andreessen
• 28:50
  Mm-hmm. Yep.
• 28:51
  with two E's. Brilliant, brilliant a great interview,
• 28:54
  guys. If you haven't listened to that one,
• 28:55
  it's really educational about AI.
• 28:57
  But yeah, so exciting times,
• 29:00
  brother. You know, you're in the right place at
• 29:02
  Have you
• 29:02
  the right time if if th with that being your focus.
• 29:05
  So Jarvis hasn't ordered you a dog yet?
• 29:09
  No, no, no, thank goodness no.
• 29:11
  But yeah. now Tony's so far
• 29:12
  Well doesn't it doesn't it?
• 29:14
  ahead on all this stuff. He always has been.
• 29:17
  Doesn't it kind of just it just blows my mind,
• 29:19
  even though I work with this every single day,
• 29:22
  that you you take a step back.
• 29:25
  I mean, you got two laptops running OpenClaw right now.
• 29:28
  They're essentially doing the work of multiple full time employees.
• 29:33
  Yeah, yeah. I I I I I had my daughter
• 29:35
  Like it it just cost you the laptop.
• 29:37
  Yeah, I yeah, well it was it was no it was more than that.
• 29:41
  I mean it was it was it was it wasn't
• 29:42
  Sure.
• 29:43
  cheap actually, but but but because we had to configure it and do
• 29:46
  all the security protocols so you know,
• 29:48
  'cause there's a lot of security components with that.
• 29:50
  But my daughter, I asked her this morning driving from Miami,
• 29:53
  I said, Babe, can you can you make me a really comprehensive
• 29:57
  due diligence checklist for ALFs?
• 29:59
  You know, we kind of did it ad hoc on this on these first couple.
• 30:02
  You would not believe what sh what AI created with her prompting and her helps.
• 30:06
  I mean, it's unbelievable. And it just,
• 30:10
  I mean, we're in a different li world.
• 30:12
  You know, I heard Tony also t was it Tony talking about yeah,
• 30:15
  it was Tony being with the health director Kennedy with the Raspbi voice on
• 30:21
  Mm-hmm.
• 30:21
  his podcast and talking about how within five years there'll be
• 30:26
  There'll be nanobots going into our bodies that'll,
• 30:29
  you know, basically ha bring us AI in our br in our brains and we're
• 30:34
  not gonna know if it's our brain memory or if it's the AI memory that's answering
• 30:38
  questions that we ask it in our brains,
• 30:40
  which is just freaking crazy, man.
• 30:43
  You know, yeah, exciting times.
• 30:43
  Yeah. We're living in a sci fi movie,
• 30:45
  I tell ya.
• 30:47
  Right? Right? Right? It's like the Jetsons,
• 30:49
  fast forward. I mean there's flying cars now,
• 30:51
  you know. I I mean, yeah, anyway.
• 30:54
  Fun times. Fun times, brother.
• 30:56
  But I appreciate
• 30:57
  Yeah.
• 30:57
  you having me on my friend. This has been a lot of fun.
• 30:59
  I've been a hoot 'cause I've done all the talking,
• 31:01
  so that's always a good time.
• 31:02
  Well, you know, we kind of close out the show with rapid fire,
• 31:05
  but I just want to recall everybody here,
• 31:07
  Rodslinks.com. Take advantage of that offer.
• 31:10
  Sixty three hundred dollars in extra value
• 31:12
  Thanks, buddy.
• 31:13
  for twenty five bucks is that's just silly if you're not taking advantage of that.
• 31:17
  well, if you're ready, Rod, we'll jump into the rapid fire and close
• 31:20
  out the episode unless you had anything else.
• 31:22
  Okay. No, no, sounds good. I think we covered a lot of ground.
• 31:26
  Thanks.
• 31:27
  What lie do real estate investors often tell themselves?
• 31:30
  The well it's I I I will say it's fear.
• 31:32
  It's fear. And what is fear? F everything and run?
• 31:35
  That's what most people think it is.
• 31:36
  I I know that it's false evidence appearing real because people fear
• 31:40
  the emotion of fear versus what's actually happening.
• 31:43
  But I like to think it's face everything and rise because successful people have
• 31:46
  fear but they push through in spite of it.
• 31:48
  And I think fear is the biggest issue i in in investing and that's what
• 31:52
  I and I'm kicking people in the ass in my program all the time to push them through
• 31:56
  fear and limiting beliefs. Yeah.
• 31:59
  If you could go back in time and give your younger self a piece of advice,
• 32:02
  what would it be?
• 32:02
  I asked that question of my guests on my show because I know what
• 32:05
  the answer's gonna be. and I want them my guests to I want my listeners
• 32:09
  to hear from my guests instead of from me.
• 32:11
  It's always go bigger, faster.
• 32:12
  You know, I it took me two thousand houses which I've owned and managed long term
• 32:16
  to get the memo that I should have stuck with multifamily and and not done houses.
• 32:20
  Yeah.
• 32:20
  When you were scaling your business,
• 32:22
  what was your first hire? And most recently,
• 32:26
  what was your most recent hire?
• 32:28
  My first hire was a personal assistant,
• 32:30
  a slash executive assistant. And I I and when I have people ask me
• 32:34
  who they should hire first, that is always my answer because they will help open
• 32:38
  up your world. I literally have three of them right now,
• 32:40
  okay? And so yeah, that's absolutely the f the the first hire.
• 32:43
  last hire was my daughter actually.
• 32:45
  and I thought I was gonna have to let her go because,
• 32:47
  you know, she was doing what is it?
• 32:49
  it's the organic
• 32:50
  having a brain fart, where you're rank you're ranking yourself
• 32:52
  S. E. O. or something or s
• 32:54
  SEO, thank you, SEO, SEO, she was doing my SEO very well,
• 32:58
  by the way. If you go in any of the large language models and ask who
• 33:01
  the number one real estate trainer,
• 33:04
  multifamily trainer is, my I pop up number one,
• 33:06
  which it made me feel good. But she's she's instrumental been instrumental
• 33:09
  in doing that. But I was like,
• 33:11
  babe, I'm not gonna need you because OpenClaw's doing it.
• 33:14
  But she's she's doing so many other things.
• 33:17
  I was I was afraid I was gonna have to let her go.
• 33:19
  Seriously.
• 33:20
  But she's she was the last hire and she's like I said,
• 33:22
  she's mensa gifted, brilliant.
• 33:24
  I mean, she blows me away when we have a conversation.
• 33:26
  That's how smart she is. So it's a real blessing.
• 33:27
  Yeah. And you you maintain your ma and you maintain your your
• 33:29
  The real blessing is she likes to spend time with me.
• 33:31
  That's the real blessing.
• 33:32
  Thanksgiving meal. And then finally,
• 33:34
  what single tool or process have you implemented that has had
• 33:37
  the biggest time saving impact?
• 33:39
  Well, we just talked about it,
• 33:40
  brother. Yeah. Open claws unfrickin' believable.
• 33:43
  I mean I I mean of course it ain't it it brings in Claude and
• 33:46
  all these other things, but yeah,
• 33:47
  it's been unbelievable.
• 33:48
  Yeah.
• 33:49
  So I'm gonna just direct everybody to Real Deal Cast,
• 33:53
  my other channel. If you want to learn about open claw and some
• 33:55
  of these other tools, that's where I talk about that type of thing.
• 33:58
  and but I really appreciate your time,
• 34:02
  Rod. One more time, you can take advantage of that offer.
• 34:05
  Head over to Rodslinks dot com,
• 34:07
  twenty five bucks. Come on, guys.
• 34:09
  really appreciate your time, Rod,
• 34:11
  and looking forward to chatting again and real
• 34:13
  Phoenix.
• 34:14
  soon.
• 34:14
  Thank you, brothers. Great to see you as always.