Real Estate Investors Mindset with Rod Khlief - CREPN #222
Commercial Real Estate Pro Network
Release Date: 11/14/2019
Multifamily Leasing Strategy Training Courses with Peter Roisman - CRE PN #532
Commercial Real Estate Pro Network
Today, my guest is Peter Roisman. Peter Roisman is the CO founding principal, President and CEO of REV, the multifamily leasing company, a Houston based venture established in 2019. Under his leadership, REV has become a trailblazer in multifamily leasing management and training, and in just a minute, we're going to speak with Peter Roisman about leveraging data for improved multifamily leasing results.
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BIGGEST RISK with Peter Roisman
Commercial Real Estate Pro Network
J Darrin Gross If you're willing, I'd like to ask you, Peter Roisman, what is the BIGGEST RISK? Peter Roisman Well, the biggest risk, in my mind, for besides physical property itself, is the occupancy and and and the rental rates. So if you have an underperforming leasing team. And your occupancy drops into the 80s, you know. And at one point, 15% of the properties in Houston were under 85% you're at risk. That is, that is a high risk, too. So in to flip that, to address that risk, you have to be high performing at leasing, which, which means you're not at risk at all. You're lowering...
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Infinite Banking Money Multiplier Method with Brent Kessler - CRE PN #531
Commercial Real Estate Pro Network
Today, my guest is Brent Kessler. Brent Kessler was a chiropractor, and after implementing the money multiplier method, Brent paid off $984,711 in third party debt in 39 months, he became so passionate about how powerful this concept was, he began sharing it with others, and in just a minute, we're going to talk with Brent Kessler about Infinite Banking through the Money Multiplier Method.
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BIGGEST RISK with Brent Kessler
Commercial Real Estate Pro Network
J Darrin Gross And so if you're willing, I'd like to ask you. Brent Kessler, what is the biggest risk? Brent Kessler Yeah, well, let me answer it a couple different ways on there. But so as far as a risk, okay, as far as in our business, and what we do when you have this type of policy, I tell people all the time, there is no risk at all, because nobody's ever lost money in a whole life insurance policy. But then I stop, and I say, wait a minute, there is one risk. The risk is you, the risk is you the client and how you use the policy. So you're the only one that can screw this up. You...
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Commercial Real Estate Market Cycle with Travis Watts - CRE PN #530
Commercial Real Estate Pro Network
Today, my guest is Travis Watts. Travis is a multifamily apartment investor, public speaker and the Director of Investor Development at Ashcroft Capital. And in just a minute, we're going to speak with Travis Watts about Lessons Learned Through the Market Cycle 2022 to 2025.
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BIGGEST RISK with Travis Watts 2025
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you. Travis Watts, What is the BIGGEST RISK? Travis Watts I would say, in 25 we talked a lot about market and rates and the discounts, and you know why we're bullish, or why I'm bullish on multifamily, I would say it's more than ever. It's the operator that you're about to invest with. Okay, do they have a lot of distress on their books? Are they losing properties currently? Are they not? Not that any single answer to that is like a red flag and rule them out. But you want to dive a little deeper and make sure that they're dedicated to staying in this...
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Affordable Housing Public-Private Partnerships with Danielle Ash - CRE PN #529
Commercial Real Estate Pro Network
Today, my guest is Danielle Ash. Danielle Ash is a partner in the real estate group and co chair of the ground leases practice as well as the impact practice at Adler & Stachenfeld, a law firm based in New York that is solely focused on real estate. And in just a minute, we're going to speak with Danielle Ash about Demystifying the Reality of Affordable Housing Returns and Risk Profiles.
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BIGGEST RISK with Danielle Ash
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you. Danielle Ash, what is the BIGGEST RISK? Danielle Ash Well, I'm going to give a self serving answer, and then I'm going to give more of an investor based type answer. So the self serving answer, I think, is, you know, people come to me from all different sectors of real estate and at all different parts of their career, from early stage developers, sponsors to, you know, super high net worth sovereign wealth funds, who've been investing for 50 plus years. And I do think one of the biggest mistakes or risks that people face is not having good counsel...
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Flexible Workspace Solves Human Interaction Need with Mark Goldfinger - CRE PN #528
Commercial Real Estate Pro Network
Today, my guest is Mark Goldfinger. Mark Goldfinger is the General Manager Head of North America at Mindspace, a global flexible workspace provider that redefines the workplace experience for companies of all sizes, and in just a minute, we're going to speak with Mark Goldfinger about flexible workspace solutions.
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BIGGEST RISK with Mark Goldfinger
Commercial Real Estate Pro Network
J Darrin Gross I'd like to ask you, Mark Goldfinger, what is the BIGGEST RISK? Mark Goldfinger I think it's great question. I think in the co working ecosystem, or in the flexible office space, you know, ecosystem, I think one of the biggest risks is landlords starting to take on the opportunity to create their own turnkey sublet solutions for smaller companies, and kind of take business from us. Now, I don't think that they're able to really run the hospitality arm that we are, because that's not their business, and we put a lot of pride into that. But I think that's definitely one thing we...
info_outlineMindset is the first thing Real Estate Investors have to get right to become successful.
Rod Khlief is an experienced investor, author, podcast host and mentor. He has owned over 2000 single family residents and hundreds of apartments. He also lost millions in the crash and has since recovered. His ability to rebound is directly attributed to the power of mindset.
Real Estate
Rod immigrated to the US from The Netherlands with his mother and brother. They were poor, ate expired food, and wore clothes from thrift shops. To make ends meet, his mother babysat the neighbor kids. Over time, she was able to save up enough money to purchase the house across the street for a rental.
One day she explained to Rod that the home had doubled in value overnight. That’s when Rod made the decision to get his brokers license as soon as he graduated high school.
Year one was slow, he made only $8,000. Year two, he made $10,000. But by the end of year three, his income had grown to $100,000. How was this possible?
Mindset
How is it possible to grow your income 10x’s in one year? Truly 80 to 90 percent of your success is anything is attributed to mindset.
Rod focuses on mindset with his podcast, live events and his students. The framework he uses to help others design their life requires that you take some time, an hour when you will be uninterrupted. Take this time to focus on what you want your life to look like, design your life. If you want a private island, write it down. List the income you want. What do you want to learn? Who do you want to help? Write it down. Do not limit your thoughts and don’t analyze.
Timeline
To make it possible, you have to attach your goal to a timeline. Set a timeline for when you will have accomplished each goal. People overestimate how much we can accomplish in one year and underestimate how much we can accomplish in ten or twenty years.
Focus on the Goal
Pick your top goal and the two or three goals you want to accomplish in one year. Under each, write a paragraph using emotionally charged words, why this is so important. Next write what pain you will experience if you fail to reach your goal.
Why is it important to attach your goal to pain if you fail to reach them? Humans will work harder to avoid pain than reach pleasure. This will motivate you and get you out of your comfort zone. Go for it! Live a life of no regrets!
Visualize
Visualize your goal. Immerse yourself in the goal. Find a picture, go experience the goal, to inspire you for when you reach your goal. Put the picture on your phone, screen saver, or in your wallet. You need a constant reminder of your goal.
Professional athletes practice visualizing the event, and the success. When you practice visualizing, the exercise prepares you similar to the physical practice prepares you.
Life Seminar
What do you call it when you loose $50,000,000? In the crash of 2008 Rod loss $50,000,000 in real estate. Instead of crying, Rod considers this a seminar. This is because not only did he lose money, but he learned a valuable lesson. What was the lesson?
Q: Why did his single family properties struggle while the multifamily did well during the crash?
A: Logistics. The logistics of multifamily make multifamily much more efficient to operate compared to single family houses spread out all over the city or cities.
In an apartment complex, each unit has the same type of systems. This allows your team the luxury of learning once and having multiple opportunities to repeat the lesson learned. This saves time, allows you to buy in bulk and save money.
In single family homes, each one is different. Different plumbing fixtures, faucets, lighting, appliances, etc. Each home is its own lesson, never to be repeated just like the last one. Every lesson learned can be drawn from, but not replicated for efficiency. Each home has its unique fixtures and appliances, which prohibit purchasing in bulk. Don’t forget that each home is located in a different location which requires travel, time and money.
Summary: Multifamily allows for systems and you have less of a downside when considering vacancies. They are easier to scale and purchase. Lenders look at the property’s cash flow to approve the loan rather than your balance sheet when buying single family homes.
BIGGEST RISK
Each week I ask my guest, “What is the Biggest Risk Real Estate Investors face?”
BIGGEST RISK: Irrational exuberance. In today’s market, people are overpaying for properties that do not support the price. You have to communicate with your team, and look under every rock. Double check your numbers. Don’t overpay for a property.
For more go to:
Website: rodkhlief.com
Podcast: Life-time cash flow