Ever wonder what it would be like to own 2,000 units of property? Like lots of properties and even a few apartment buildings? Well, you’re going to want to listen to this episode of the Cash Flow Diary podcast all the way to the end. Today’s guest, fellow podcast host, philanthropist and big-time real estate investor Rod Khleif has owned and managed that many units and helps a whole lotta people in the process.
So when did Rod’s love of real estate investing kick in? In his teen years when he saw his mother save up money by babysitting other people’s children to purchase a family home. Rod thought it would be neat to get into real estate, so he became an agent very early in life. He even had his face plastered across some outdoor advertising. But he didn’t end up earning much money as an agent.
Rod then started looking at real estate with new eyes… the eyes of an investor. At the age of 21 he bought his first house. He was on his way to the success he craved as an investor.
While Rod had a lot of successes, he also had a number of failure events. He calls them his “seminars” because he learned a lot from each failure event. He says these events are absolutely necessary, and we can’t fear them. We just have to be willing to put the time in to learn and grow and do… one step at a time.
One of the things Rod says he learned is that real estate goes in cycles. By that he means markets go up and markets go down. Real estate investing works in any market, but you need the right strategies. His is buying and holding… and renting properties to tenants. That’s his sweet spot. He’s not a flipper; rather he wants to hold onto the properties over the long haul.
Rod also says that it can be easier to buy a small commercial property, for example, apartment buildings than to buy one single-family house. It can be easier to rent apartments out, too. There are other benefits to owning apartment buildings vs. several single-family houses, like the fact that all the units are under the same roof vs. having properties scattered around the area. After all, which is easier to manage and maintain?
If you want to learn about the importance of failure, why success is not a destination but rather a journey, why you’re “stuck” while you really want to move forward, and how to step up your game, listen to this episode. (You’ll also learn a few ways to push yourself forward, no matter what, and the importance of writing your goals down and visualizing what you really want out of life.) Learn more.