Unlocking Multifamily Success: Key Lessons from Corey Peterson & Jack Bosch

Welcome to the real deal on multifamily investing with two heavy hitters, Corey Peterson and Jack Bosch of Kahuna Property Partners. These guys bring serious experience and wisdom on how to build lasting wealth through operational excellence, smart financing, and strategic partnerships.

Core Takeaways You Can Use Today:

  • Increase NOI by Cutting Fat, Not Just Raising Rents:
    Corey and Jack shared a prime example from their recent $3.6 million deal in Slidell, Louisiana. The property was cash flowing but had a sky-high expense ratio over 60%. By trimming unnecessary payroll and expenses, they boosted net operating income from $26,000 to $46,000 in just six months—without major rehab or aggressive rent hikes. This is a classic “diamond in the rough” scenario many investors overlook.
  • Understand Economic Vacancy vs. Occupancy:
    Don’t just trust the rent roll. Economic vacancy reflects actual collected rent, which can be much lower due to late payments or evictions. Dig into the trailing 12 months’ profit and loss to see the real cash flow picture.
  • Choose Financing That Protects You:
    Corey’s team secured a 7-year fixed Freddie Mac loan at 80% LTV with a nonrecourse structure and an adjustable rate extension. This “insurance policy” shields investors from refinancing risk in a market contraction. Avoid short-term balloons that can force you to sell or lose your property when cap rates rise and values drop.
  • Operational Excellence Is Everything:
    Multifamily investing lives and dies by how well you run the property. A strong property management team that enforces rent collection, reduces expenses, and improves tenant quality can transform a mediocre asset into a cash flow machine.
  • Partner Wisely and Know Your Operating Agreement:
    Corey’s war story highlights the critical importance of understanding your operating agreement and choosing partners carefully. Legal counsel must craft clear agreements that protect your ownership and voting rights to avoid costly disputes.
  • Advice for New Investors:
    Multifamily is a complex game compared to single-family or land flipping. Find a mentor, join a training program, or partner with experienced investors. Learn the acquisition and operational nuances before diving in.
  • Mindset and Motivation:
    Love the game. Corey thrives on the thrill of deal-making, while Jack values the trifecta of wealth, cash flow, and fun. Real estate should be something you enjoy, not just endure.
  • Book Recommendations:

The market will contract, but that’s when the real opportunities arise. Focus on cash flow, build your network, and be ready to pounce when others are running scared. Remember, appreciation and tax benefits are bonuses—cash flow is king.

For more from Corey and Jack, visit kahunapropertypartners.com. And if you want to dive deeper into multifamily investing, grab my free book by texting R-O-D to 41411.

Corey Peterson and Jack Bosch Bio

Corey Peterson and Jack Bosch are dynamic collaborators known for their innovative approach and insightful perspectives in their field. While specific details about their professional backgrounds are not provided, their partnership suggests a blend of complementary skills and shared vision. Together, they bring a unique synergy that drives thoughtful discussions and creative solutions. Their presence on this episode promises to offer valuable insights and engaging dialogue relevant to the audience. Listeners can look forward to learning from their combined expertise and distinctive viewpoints, making this episode a compelling experience.

In Today’s Episode You’ll Learn

Main Topics

  • How to increase the NOI on a property
  • Reasons why you should look into the expense ratio on a property
  • How multifamily success depends on operational excellence
  • The importance of economic vacancy versus economic occupancy
  • Strategies for buying when the market contracts
  • Choosing the right financing – the benefit of longer term or adjustable loans
  • Lessons on partnering and navigating operating agreements
  • Book recommendations and personal success tips

Introduction

Rod Khleif: Welcome to Lifetime Cash Flow Podcast. I’m Rod Khleif, and I am thrilled you’re here. We have two hitters in the space, and one of them is a friend of mine, their names are Jack Bosch and Corey Peterson. They are with Kahuna Property Partners. I guess that’s Hawaiian, kahuna. That’s Hawaiian, right guys?

Corey Peterson: Yeah.

Jack Bosch: Yeah.

[chuckles]

Rod Khleif: Well, welcome aboard guys. They’re both hitters in the real estate space, and very, very impressive bios. I think what I’m gonna do is really have them introduce themselves because they both come from different backgrounds. Now, I will say Jack emigrated from Germany. I emigrated from Holland, and so we’ve got some parallels there. Jack and Corey have partnered on some multi-family, so we’re gonna dig in to all that. Corey, you wanna start, and just tell my listeners how you got started in the business? Tell us who you are.

Getting Started in Real Estate

Corey Peterson: Yeah, so I started in 2005, read Rich Dad, Poor Dad. That book changed my life, and said, “That’s what I wanna do.” I want time and money, and I went to work. I figured some things out, and what I found that I got really good at was raising private money. I was raising private money for my single-family deals. Then something changed in 2011. I’m in the Phoenix market, and it was harder and harder for me to source good deals, and I always really wanted to do apartments. So I took the time to get really good at it, and have some really good mentors that showed me the way. I raised about… My first deal in 2011, a $3.2 million purchase, and we raised $1.4 million of private money. We’ve been off to the races since, and what a wonderful process.

Rod Khleif: Awesome. Awesome. Okay, Jack, tell us about you.

Jack Bosch: Alright, wonderful. I have a little bit of a different background. As you mentioned it, I’m from Germany, originally. I came over to the United States in 1997, got the job, worked hard, didn’t really like my job. Then just very similar actually, read Rich Dad, Poor Dad… Really started liking real estate, started liking, meaning to do something. What I started then, buying and selling land. So I flipped over 3800 pieces of land since 2002.

Rod Khleif: Wow.

Jack Bosch: I’ve done a whole bunch of real estate since then, but I’ve never, but basically flipped land, the name sell land [00:02:45] for seller financing, and that’s kind of fun. I still do that but over time I realized the importance of true passive lifelong income, like passive cash flow that lasts for a lifetime. So 2009, we started buying some houses but that’s kind of a little slow, single‐families. Like you buy one, you buy another one, you buy another one. It’s a slow process and it does provide cash flow. I have a few dozen of those now, but it provides, in a sense, slow cash flow. So then, at some point in time, I said, “Man, I gotta figure out that multi‐family game because that’s the next step up. Right? That’s the next step up. I know how to flip land for income, I know how to have houses for cash flow, but in order to get more cash flow, and build more wealth, and so on, for us and our investors, I needed to do this thing. Even though I have a lot of experience, I really… This multi‐family game is a little bit different. So I did what I always do, is I look for the best person that I can find, that I already know ideally, that can help me. I basically see if I can partner up, or learn from the person’s side. Corey and I have known each other for several years already. We’re part of a mastermind, or a couple of masterminds together. So I went to Corey and said, “Hey, Corey, you’re Big Kahuna, right?” That’s how they call him. “You know apartment complexes really well. Can you show me?” And then he’s like, “Well, ___ [00:04:08].” And he said, he just had a deal come up and he’s like, “Why don’t we partner up on that deal and you learn the ropes of it”. ‘Cause real estate is real estate but apartment complex just has… The operations are different. The acquisition is a little different. There’s a few things that are different that I just didn’t know after 3800th deals; I was not yet totally familiar with. So I teamed up with somebody that’s an expert in this space, and we’ve done one deal very successfully. We literally, this week, signed the documents for another deal.

Dissecting a Deal

Rod Khleif: Let’s talk about that first deal, Corey, or whatever deal you wanna talk about. I’d like to dissect one of your deals. You just did one or two with Jack. Pick one of those, and let’s dig into it.

Corey Peterson: Yeah, man, yeah. So we just actually did, we bought a deal in New Orleans in Slidell, Louisiana. That’s about 30 minutes outside of New Orleans, and we bought it for what, 3.6. Jack, right?

Jack Bosch: Yes, $3.6 million plus $400,000 in CapEx.

Corey Peterson: Yeah. It actually was a really unique deal, in that the day we bought it, we were cash flowing amazingly great. In fact, we started off; I think our NOI was about $26,000 the first month in operations. Six months down the road, we’re now at $46,000 in NOI.

Rod Khleif: Wow… So why was it so low when you bought it? What was the value add there? What did you encounter? Then what did you do to turn that around?

Corey Peterson: Believe it or not, it was more an operational play. I mean almost… we’ve not even done any really rehab to the property yet, like major. We’re budgeting to replace the entire roofs and paint all the outside. But all we really, really did… It was already 90% or 93% occupied when we bought it. We guessed that payroll was super high, and there were super high expenses. I think the people that were owning it were just not seasoned operators. They were overpaying for a lot of things, and we just came in there, and replaced a couple of staff that we didn’t need, and just really trimmed all the fat. By trimming the fat, now we’re at 100%, and that’s typical in a lot of our properties. We run a very high expectation of filling every unit.

Rod Khleif: So it was just reducing expenses, it wasn’t raising rents.

Jack Bosch: Not yet.

Rod Khleif: Okay.

Corey Peterson: Yeah. We’ve been raising rent… Well, we are raising rent. So on our new units just… We’ve not even approved the units yet. We’re still getting a $60 bump in rent for new rentals. Then on all our renewals, we’re still getting a $15 renewal increase.

Rod Khleif: Wow.

Corey Peterson: Slow and steady wins the race.

Jack Bosch: Yeah.

Rod Khleif: When you analyze this property you identified the fact that they were running at a high expense ratio, I assume.

Jack Bosch: Yes.

Corey Peterson: Yeah.

Rod Khleif: Okay. That’s something I really wanna flag for you guys that are listening to this or watching this, in that a lot of times people will overlook deals, and not really drill into the numbers. See, a lot of people wouldn’t have noticed that. They wouldn’t have noticed a high expense ratio. My hat’s off to you guys because there are diamonds in the rough out there that show a low cap rate but they might be running it at a 60% expense ratio. And there’s just such a huge opportunity there, that they’re kind of in plain sight. But people don’t drill down to see it. Would you agree?

Jack Bosch: That’s exactly what happened, it’s actually it.

Corey Peterson: Yeah.

Rod Khleif: Okay. Okay.

Corey Peterson: Yeah. We bought it at a seven cap, like when we forecast, we’re modeling selling it at a seven and a half cap.

Rod Khleif: Right.

Corey Peterson: And so, even worse, right? But we think it ought to be better but if we’re gonna model, it’s model conservative, and we’re still cash flowing really good.

Rod Khleif: Awesome.

Jack Bosch: So Rod, if I can add something here to that. What I learned, what I understand from this process is, what has really been drilled into me and what I really appreciate is that multifamily lives and dies by the operational efficiency, by how well you run the property.

Rod Khleif: Right.

Jack Bosch: So when people buy properties, if they mismanage just a bit, you can come in and manage that part better, then you can make a ton of difference. We didn’t raise rents right away; only in the new units are we raising rents. But instead our property management company, that we’re aligned with, came in. They first of all, turned everything into electronic file keeping, and electronic measurements. They got the economic occupancy of the property up. The property was 91-95% occupied but had a bunch of people that paid late. Well by getting rid of that… those who didn’t pay, or a bunch of evictions that hadn’t really been done, it’s done. By us coming in, and by changing that, we really got the money that was supposed to be coming in; we got that to come in. Then the next step is to get better tenants in there and show them that we care. Overall then and now, the repairs are coming. So it’s like a staggered approach but it all comes down to running the property really, really efficiently and well. These guys, they were making money on this property. They weren’t losing money on it.

Rod Khleif: Right.

Jack Bosch: But they were just not running it well. Actually, the expense ratio was well above 60%.

Rod Khleif: Wow.

Jack Bosch: And we dropped that right away down. I think that’s just the key thing for everyone listening—to keep in mind that if you don’t have real operational excellence or a good property management company at hand, then this can be dangerous. But if you do, you can take deals like that and bring them up to the roof. It’s amazing.

Rod Khleif: Okay. Okay, yes, so it was actually running over 60%. Guys, anytime you see over 50% there could be an opportunity—there likely is—because 50 is about an average.

Corey Peterson: Yeah.

Rod Khleif: That’s awesome.

[00:10:00]

Financing and Economic Vacancy

Rod Khleif: I’m really glad you brought up economic vacancy. That’s come up many times in the past, so guys, you may get a rent roll that shows $30,000 a month on the rent roll but they may only be collecting $20,000 a month. So it’s very important that you pay attention to economic vacancy and the economic occupancy based on the trailing 12 profit-and-loss statement. You see what they’re actually depositing. What kind of debt did you put on it?

Corey Peterson: We actually were able to get a Freddie loan. Now, one of the things we’ve been doing lately, and it makes a lot of sense, is that we went and got a seven-year fixed Freddie loan at 80% LTV.

Rod Khleif: Okay.

Corey Peterson: So that was really nice, and then it has a prepayment schedule of, we call it 5-4-3-2-1-1 [00:10:43]

Rod Khleif: Yeah, the deficents (or is it deficit?) [00:10:45]

Corey Peterson: Yeah.

Rod Khleif: So you got a nonrecourse debt…

Corey Peterson: Nonrecourse.

Jack Bosch: Nonrecourse.

Rod Khleif: Yeah, yeah.

Corey Peterson: And then we asked… It actually turned into an adjustable, and after that for another 13 years.

Rod Khleif: Nice.

Corey Peterson: Now, there’s a reason why we did this though. It is because we are syndicating. We raise capital, and there is a change coming—we don’t know when…

Rod Khleif: Right.

Corey Peterson: So we got to be very prepared for our investors, so this is a safety play for us. Didn’t cost much to do this but it allows us to have a note where we know it’s not gonna get cold.

Rod Khleif: Right. Right. Anybody that’s putting five-year debt on a property right now is… I mean…

Corey Peterson: Ludicrous.

Rod Khleif: Yeah, they’re playing Russian roulette. Guys, just so you understand why that’s a big deal: you could be cash flowing great. This property could be cash flowing great, but if the cap rates have expanded because the market has gotten bad, it could likely be worth significantly less than it is now. So you wouldn’t be able to refinance. If you’ve got to liquidate or refinance because you’ve got a five-year balloon, there’s nothing worse than having a cash-flowing asset. That makes sense. But because cap rates have gone up, the values have down, and you don’t have the loan-to-value that you need to refinance, you might have to give that property back to the bank. That’s why what Corey is talking about is that you have to do that. I wouldn’t do anything less than seven years, but what you did is even better, where you just go to an adjustable. Yeah, you got to pay a little bit for that but it’s worth every penny right now.

Corey Peterson: Yeah, in gold. In gold.

Rod Khleif: Right.

Corey Peterson: Yes.

Jack Bosch: Yeah, it’s our insurance policy, basically. Also for our investors… But yeah, it’s really our insurance policy to make sure that our investors’ money is safe, and to make sure that the property is safe, ‘cause in the worst-case scenario, we just keep the property if the market crashes. We just keep paying everyone their dividends and their preferred returns, and then when the market recovers we can sell. But as you said, Rod, we’ll never have to sell this property just because we are at that Russian roulette five-year mark or something.

Rod Khleif: Right. Right, and that’s how a lot of people get hurt. I cringe when I see developments coming out of the ground right now because they’re playing Russian roulette as well. I mean, there’s no question we’re heading into a contraction but that doesn’t mean there aren’t great opportunities that you can make money with out there because there are. As long as you’re focused on cash flow. I just got an email this morning from somebody who said, “Hey, this property sold for X back in 2008, and I can get it for Y today.” And I said, “I don’t care. What’s the cash flow? What’s the NOI? What’s your new debt service coverage ratio gonna be?” That’s all that matters.

Rod Khleif: In fact, I’ll put a plug in for my book. By the way, I wanna put a plug for your book as well, but my book How to Create Lifetime Cash Flow Through Multifamily Properties—the subtitle is The New Rules of Real Estate Investing. Basically, the new rule is: focus on cash flow not value.

Corey Peterson: Yes.

Rod Khleif: Corey, I know you’ve got a book coming out, and it’s titled Why The Rich Get Richer: The Secret to Cash Flowing Apartments. You’ve also got a podcast coming out, and what’s that called, Corey?

Corey Peterson: The podcast’s gonna be Multi-family Apartments Investing Podcast.

Rod Khleif: Awesome. Awesome. Guys, if you wanna contact Corey or Jack, their website is kahunapropertypartners.com, K-A-H-U-N-APropertyPartners.com.

War Story and Victory Story

Rod Khleif: Let’s move on to another segment of the show. This is a question that I like to ask sometimes about a war story and a victory story. You could start with the victory first, but then tell me about a war story too.

Jack Bosch: The victory story for me really is the one that also drove me towards multi-family investing. Because the victory story is that, thanks to the land flipping deals that I’ve done, where we also sold properties with seller financing and then people paid us basically with great cash flow from land—in 2008 and 2009, we were lucky that our business did not crash. We didn’t lose a whole lot. I mean, the values of what we held on to went down, but other than that, we didn’t lose a whole lot. We actually saw real estate in America be for sale. We were able to jump in and buy a whole bunch of single-family houses during that time that now have tripled and quadrupled in value. I still hold most of those. They provide nice cash flow but they also have made a big equity gain—like a seven-figure equity gain. Really, in that moment is when I realized, “Man, I got to think bigger than just doing my…” I mean, 30,000 something land deals is really big…

Rod Khleif: Right.

Jack Bosch: But I realized, now, I got to play this again. As we grew—as we’re looking right now in the economy… The economy is heating up. Real estate is heating up. Both Corey and I think that there might be an adjustment coming at some point in time. One of the things I wanna do, my biggest regret is that I didn’t buy more single-families back then, or that I didn’t already get into multi-family back in 2009 or 2010 and so on. ‘Cause obviously, the leverage is so much bigger if you… A property that’s worth $4 million can be worth eight or nine million over a five-year period, if you do it right.

Rod Khleif: If you buy it at the right time.

Jack Bosch: If you buy it at the right time. So what we’re doing right now is we’re looking very, very carefully. My success story is that I did see the opportunity, I jumped in. I was able to buy something like 17 houses back then, let them ride up, and now they’re worth several million dollars more than they were, right now.

Rod Khleif: There will be incredible opportunities when this market contracts, no question, and exponential opportunities for appreciation, no question.

Corey Peterson: Yeah.

Rod Khleif: And contrarian investing is basically, selling now, getting into cash right now, and then when the market crashes—when there’s, for lack of a better word, blood running in the streets and everybody’s running for the hills saying real estate is terrible—that’s when you buy.

Corey Peterson: Yeah.

Jack Bosch: Yeah.

Rod Khleif: Now, I got caught in that crush back in 2008. That was my blood running down the street. [chuckles] But I will say, and those of you listening, don’t be discouraged because there are deals out there.

Jack Bosch: Right.

Corey Peterson: Yes.

Rod Khleif: We’re writing an offer tonight, and we’re gonna have a 50% cash on cash return on this deal.

Corey Peterson: Wow.

Rod Khleif: There are deals out there.

Jack Bosch: Yes.

Corey Peterson: Yes.

Rod Khleif: You just have to find off-market deals, or you have to have relationships with brokers, but don’t get discouraged, because there’s lots of deals happening.

Corey Peterson: And that’s exactly…

Rod Khleif: But both eyes wide open. That’s the key.

Jack Bosch: Yeah.

Corey Peterson: Yes. Rod, let me give you a quick example. For me, my first deal—I bought it in 2011 for $3.2 million. It’s now, at five years later, our average strategy is to hold them at least five years, increase occupancy and improve operations. I have it under contract now for $8.8 million.

Rod Khleif: Wow. Wow.

Corey Peterson: So that’s a $5 million spread… I mean, I’m making a million dollars a year. Now, I never banked on that—that’s just what happened—‘cause I bank on the cash flow.

Rod Khleif: Right.

Corey Peterson: Just like you got…

Rod Khleif: No, the appreciation is a bonus. That’s a quote from my book. By the way, I forgot to plug my book—this is shameless promotion. Guys, if you’re watching this and you want it, it’s free. Just text R-O-D to 41411, and my book is free. But anyway, you’re right, because if you look at the appreciation as the bonus, if you look at the tax benefits as a bonus, and if you look at the principal reduction as a bonus—that’s what it is. But focus on the cash flow. Yeah, that’s an amazing deal, a $5 million spread. Now, you bought… When did you buy that one? Like ’09 or ’10 or ’11 or something?

Corey Peterson: 11, yeah. August 11.

Rod Khleif: 11, yeah. That is fantastic timing. And that timing is gonna happen again. That kind of appreciation play is gonna happen again.

Jack Bosch: That’s exactly what we’re doing right now, actually. We’re preparing, doing very, very careful sifting through hundreds of deals to find one.

Rod Khleif: Right.

Jack Bosch: Looking at deals that are safe, while building relationships with brokers and all that stuff, so that when that time comes, we can go big.

Rod Khleif: I was just gonna expand on that—to say that, guys, use this as an opportunity. Use it to grow your network, to find investors, to develop relationships with brokers, bankers, mortgage brokers, and all of that. We’re doing the same thing. Because when the market crashes, if you’ve got investors, partners, and access to capital, there’ll be exponential opportunities.

Jack Bosch: Yeah.

Corey Peterson: Yeah.

War Story: Lessons Learned

Rod Khleif: Alright, so tell us about your war story. I wanna hear when your blood was running down the street now. [chuckles]

Corey Peterson: My biggest war story will come… Actually, it was the same deal that I made all the money on—the deal I made all the money on. When I first came into that deal, it wasn’t my deal. I was representing the capital. I had lots of private money coming into the deal. So this is where I would say, “Know thy operating agreement and know thy partner.”

Rod Khleif: [chuckles]

Corey Peterson: Now, Jack, we know each other very well but these two guys that I first went into business with—I didn’t know, and I didn’t read thoroughly. I was a little bit naïve. I’m gonna say… It hurts to tell this story. [00:20:00] So I negotiated a 75% ownership of this deal when I first started, because it was all my capital coming in. I was supposed to have 75% voting rights. They were getting ready to lose it, and they were getting ready to lose their earnest money. I needed to close in two weeks. I was able to make that happen but somehow in between lawyers—and my lawyer missed it too—the voting rights ended up being 33, 33, 33. All of a sudden, it was two against one, ‘cause I was the outside guy.

Rod Khleif: Right.

Corey Peterson: It about made my heart sink. It was the hardest thing to do because the operating agreement wasn’t written very well. It wasn’t my operating agreement; it was these other guys’. So what I learned from that is: know thy operating agreement, hire good legal counsel to prepare one for yourself and your team. And make sure there’s language in there that spells out what happens if there’s ever a split up or how people get bought out or things like that. Very, very important.

Rod Khleif: Critical. Yeah. You really need a good attorney to do that—I’ve seen attorneys that just boilerplate somebody else’s agreement, and they’re junk. I’ve seen attorneys that literally, almost painfully, go through every detail, and that’s what you want.

Corey Peterson: Yeah.

Rod Khleif: You wanna go through that pain now, because you don’t want that other pain later.

Advice for Aspiring Investors

Rod Khleif: Let me ask you guys this—what advice would you give someone who wants to get into this business? You’re talking about hundreds of units, and that’s gonna intimidate some of my listeners. What advice would you give somebody who hasn’t bought a unit yet?

Jack Bosch: Well, perhaps I can start that because I’m fresher in that game. Find a mentor. Find somebody who’s really done the game before because the beauty of land flipping is that it’s super simple. You got a buyer, you got a piece of land, you got a seller, you got a buyer, and you flip it. It seems simpler than house flipping. But the apartment complexes and these multifamily properties are a different game. You have sophisticated sellers, attorneys involved, PPMs involved—there’s a sequence of things that need to happen and so on. So find somebody that can help you understand how this works. Enroll in their training program or partner with someone you trust. If you have capital, put some of that in but partner with someone you know well. That’s kind of my thing, because it is a much more complex animal than many other kinds of real estate, both from acquisition as well as running it.

Rod Khleif: Sure.

Jack Bosch: Like a lot of people think it’s all done by running it and then handing it off to a property manager, Rod. No, that’s why we buy our deals—because somebody bought it, ran it, and then didn’t run it as well as it should have been run, which then gives us the opportunity to buy it again at a lower price and bring it up.

Rod Khleif: Sure.

Jack Bosch: That’s really the key. There are pieces of the puzzle on multiple ends, so make sure you get really good advice in the beginning. Get a course or team up with somebody who can show you how to do this.

Rod Khleif: Oh, that’s good advice. I also do these little five- to eight-minute Driving For Success Tips on my podcast. Sometimes I’ll ask people what makes them jump out of bed in the morning. Where do they get their drive? I’d love each of you to answer that question. What drives you? What motivates you?

Corey Peterson: Man, for me personally, I love it. I love the game of real estate. Besides my wife, it’s my second love. I love the process of getting a deal. I barely made it out of high school; I was a used car salesman. I sold cars for like six to seven years. The chase, the working out of the deal—I honestly get a lot of fun and enjoyment out of that. It is why I come to work. I like the chase.

Rod Khleif: Now, that’s…

Corey Peterson: As soon as we get done with the deal, and we’re kind of done buying it, and my operations kick in—‘cause that’s kind of on autopilot for me—it’s not as fun. I like looking at it and going to visit it, but it’s not as fun anymore.

Rod Khleif: Now, that’s a great answer. Jack, before you answer, I wanna hammer that home for my listeners: make sure you associate pleasure with this business. If you’re going to get into it, do it only if you love it. If you don’t love it right now, make it so you do love it. I use the analogy of hunting for treasure, ‘cause that’s really what Corey is describing—the thrill of the chase. Life is too short not to do what you love.

Corey Peterson: Amen.

Rod Khleif: So be sure you’re doing what you love. And again, you can develop a love for this by how you position it in your mind and associate pleasure with it. Great answer. How about you, Jack?

Jack Bosch: For me, it’s this: I always distinguish between what I call ‘means goals’ and ‘end goals.’ Most people work at a job as a means to an end—so they work to earn money to enjoy the weekend or what have you. But real estate, especially multifamily and cash flow real estate, is an end goal in itself. It builds wealth, creates cash flow, and is a ton of fun. I love looking at deals, the creativity of structuring a deal, and making it happen. It hits three points: it creates wealth, it creates cash flow, and it’s fun. If I can work on something that’s fun, that builds passive cash flow for my family and creates wealth through appreciation, I’m in paradise.

Rod Khleif: That’s a home run. Any way you shake it.

Corey Peterson: That’s a home run—the trifecta.

Book Recommendations

Rod Khleif: Let me ask you guys this, what books have you gifted the most to either students or friends? What books that you enjoy have you gifted?

Jack Bosch: I recently gifted The Go-Giver.

Rod Khleif: The Go-Giver, okay. I haven’t heard that one.

Jack Bosch: Yeah. I think it’s The Go-Giver. It’s a little red book. I believe I’ve gifted it about 25 times or so. Obviously, Rich Dad, Poor Dad…

Rod Khleif: Sure.

Jack Bosch: Everyone in our company reads that book. I’m also reading a great book about leadership right now—it’s called Turning The Ship Around by L. David Marquet. I haven’t gifted that yet, but I’m really loving it. It’s a great leadership book about leaders-to-leaders rather than leaders-to-followers. In our company we emphasize that concept so our team can run the ship while we travel around the world.

Rod Khleif: Oh, thank you. I’m gonna check that out. This is more for me than for my listeners. Honestly… No, I’m kidding. That’s as much from my listeners, but I get some great book recommendations from that question.

Jack Bosch: How about you, Corey?

Rod Khleif: Yeah.

Corey Peterson: For me, The Richest Man In Babylon is always one of my favorites. I just love “10% of what I make is mine to keep.” I feel like we don’t save enough as a country. And quite honestly, the Bible—I gift the Bible a lot. Books like that. Readers Are Leaders—we all know this. You’ve got to feed your mind. I’ve always said, I’m a student and a teacher. I teach what I know and I continue to learn continuously because it’s enjoyable for me to do that.

Rod Khleif: Or listen, learners are earners. Jack and I met through this very high-dollar mastermind that we’re both part of—paying tens of thousands of dollars a year for it. I’m in several of them where I pay $25,000 a year each, and you’re right, they’re very valuable.

Rod Khleif: Well, listen guys, I really appreciate you being on the show. For those of you who want to reach these guys, their website is kahunapropertypartners.com.

Corey Peterson: Kahunapropertypartners.com.

Rod Khleif: That’s it. Thank you so much for being on the show, guys.

Jack Bosch: Thank you for having us.

Rod Khleif: Okay.

Corey Peterson: Hey, thank you so much, Rod.

Rod Khleif: Alright.

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Closing

Rod Khleif: Thank you for listening to the Lifetime Cash Flow Through Real Estate Investing Podcast. If you’ve enjoyed the show, please subscribe, and then take a moment to visit iTunes and leave a five-star rating and review. For more resources to connect with us further, please visit our website at lifetimecashflowpodcast.com. Tune in next week for our next show.

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