Ep #273 – Nizan Mosery – From Israeli Defense Force to Multifamily Mogul

Here is some of what you will learn:

The richest person on the planet
What are you going to do with it? Begin with end in mind
The power of following
The power of playing to your strengths
The value of great broker relations
The importance of location visits
How to overcome the paralysis of fear
The importance of mentors and training
The importance of finding your why
The power of “owning yourself”

Quote: “Successful people do the hardest thing, they build relationships.”

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Full Transcript Below:

Nizan Mosery – (Ep #273)

Rod: Welcome to another edition of “How to Build Lifetime Cash Flow through Real Estate Investing”. I’m Rod Khleif and I’m thrilled you’re here. I know you’re gonna get tremendous benefit from the gentleman we’re interviewing today. His name’s Nizan Mosery and he is a real estate investors had done over a hundred and fifty million dollars or owns currently over one hundred and fifty million dollars in real estate but it’s a lot across different asset classes including office and of course multifamily and it’s closing on some multifamily actually today. So we’re gonna dig into that a little bit. Nizan welcome to the show my friend.

Nizan: Hi how are you? Thanks for having me on the show

Rod: Absolutely absolutely so I know that you’re in Boca now and you just moved back to the states in 2009 and I was a little confused too and I saw that you were born in New York but then you were in the IDF the Israeli Defense Forces and I and now I understand because you moved back. So let’s start with giving us a little background on your real estate career because it sounds like it’s pretty interesting so maybe you can start at the beginning and bring us up to current

Nizan: Sure well you know I was born into an immigrant family that had just moved to the country and you know who is uh it was quite interesting growing up in a foreign house right you know. I had to learn bad English before I could learn good English right you know the way my parents would speak to me you know my dad would come home and say uh excuse me a you son you go get coffee me bring now. And I would have to understand that he was asking me politely to go get him a cup of coffee but you know with all that you know my father and my mother always taught us that you know the richest person on the planet is someone who owns a piece of land free and clear because then no one can take it away from you. You can do with it whatever you want you can build a home on it, you can rent it, you can lease it, you can sell it, you can, it’s yours you no one could ever take it away from you and you know growing up my father always instilled in my mind and in my brothers minds that there’s two types of people in this world all right. Those that collect rent and those that paint son you always want to collect you know you always want to be on that end and it’s funny cuz when I came from the from being in the Israeli Defense Forces I came back to the States to go back into college and I didn’t have a place to live and so I moved in with my parents and then that got old kind of fast and I went to rent an apartment and my dad almost you know he flipped a switch then I ever didn’t I teach you anything you’re going to rent you’re just paying money and you’re throwing it out you know at the door build equity buy something you know I wish I was able to at the age of 21 to spend millions of dollars and buy myself an apartment in Manhattan but at that time I didn’t have it you know so I grew up with that mindset. I grew up with my father buying real estate in New York. I was part of the renovation stages of that actually doing all the dirty work and getting in there and grinding, pulling out wires pulling out piping, drywall, flooring, you know resurfacing, redoing, you know from that aspect of it and then I also was in the on the frontlines with him learning to buy property you know always looking for that good deal but it what I learned from him is also you have to start with the end in mind right when you’re buying real estate you know when I was a little kid and we would drive around I said Oh dad that that looks like a really nice building we should buy that and he would always ask me what are you gonna do with it? who are you gonna sell it to? what’s going to be your end goal so you know I always was able to have that in the back of my mind and you know I traveled for many years and all over the world and I sold real estate ins in different countries and it was always that little strong that was in the back of my mind what are you going to do with it? what’s going to be your end goal? who are you going to sell it to? and that’s how I’ve gone and I guess you know been successful with real estate always looking at the end before going in because you could always buy a piece of property it’s you know it’s easy right question is what are you gonna do with it? who you’re going to sell it to? So I grew up in that and like you said I went into the IDF, came back and was here for a couple of years working on Wall Street. I had retail clothing stores with my brothers in Manhattan and in 1995 my father passed away and it kind of threw me for a loop. I didn’t know what to do you know I thought that life that this was life right you work at the age of 65 you retire and then two three years later you’re dead but I didn’t want that for myself after seeing you know kind of firsthand what it was and so I packed up my stuff and I moved to Israel. I hang out on the beach there for about a year and then I went traveling for six seven years I met my wife while traveling settled down back in Israel did some fix and flips there and then when the crash hit we knew that was a great opportunity to come back to the States and just start acquiring because prices and real estate was really really low. So we did that and you know I came to Florida with without with knowing one person a good friend of mine from New York had moved to Florida bout 20 years ago so we came and he was the only person I knew him and his wife good friends of mine since we were 14 years old. My network, I had no network I didn’t know the market here in Florida. So I really started at ground zero level nothing. I had to build my network had to build my knowledge of the market not only of my local market but of the national market what were good markets to go into and you know being in the Israeli army they teach you one thing you know one main thing they teach you to follow your commander because your commander knows where to step, your commander knows where to go, your commander has already been there done that. So follow them right. There’s a big thing in the Israeli army. It’s after me, follow me right. It’s not hey you go do that and then come talk to me about it, it’s follow me. So I learned that early on find somebody who knows what they’re doing and follow them but I followed my dad, I listen to him, I was you know my brothers mentored me for a while so when I was when I came back and I started fixing and flipping homes here in South Florida. I knew that was a limited time for until that would dry up so I was looking for other things. In New York I didn’t want to deal with apartments because it’s a tenant friendly state you’ve got rent control rent stabilization you got all these crazy aspects going on there and we’ve had tenants that didn’t pay us for over a year that we couldn’t evict or going through the eviction process. So I didn’t want to touch that in New York so it was all commercial but I knew that it was a great asset class to be in multifamily and I was scouring the internet and I found my mentor. I worked with him. I learned the ins and the outs and thanks to that education I was able to go out and to acquire and sell over 1,500 units all around the country, networking and meeting people that I was able to put in my team right and it’s very important to have the right team players.

Rod: So let’s drill down on that a little bit because like is like you said you moved here you didn’t know anybody. So you know and then you did the right thing you know which is which is find some help, educate yourself, get a mentor you know otherwise you’re gonna make mistakes and but then talk about how you put that team together and what that looked like and again if we can be a little granular

Nizan: Sure absolutely. So what I did was I took inventory of myself of what I have right. I took a piece of paper I split it down the middle I said me them. And then I wrote an entire list of what I bring to the table do I bring money, do I bring time, do I bring relationships, do I bring motivation, do I bring systems, didn’t matter what I brought right and you know if I could share with your listeners as well it doesn’t matter what you bring as long as you can write down what you have on one side

Rod: And everybody’s get some superpowers, some skillsets so don’t sell yourself short but that’s, you’re right that’s the first thing you take stock of and you identify deficiencies

Nizan: Absolutely and that’s exactly it. I identified my deficiencies in the deficiencies and what I was lacking I put on the other side of that list

Rod: Perfect

Nizan: Right and then I said okay who are the people that I need to find? Well I need to find people with money. I need to find people who know what they’re doing. I need real estate attorneys in the markets that I’m buying in well what markets do I want to be in and why right. So I need people who know different markets I needed people who knew how to underwrite correctly and analyze properties because you know what I mean I’m not the sharpest tool in the toolbox I am but I understand that I need to have people smarter than me. So I found people who can underwrite, I found people who can analyze, I found people can create projections

Rod: So you say you found these people, did you align with these people to partner? or did you hire these people? or you know what

Nizan: Some people I hired right, assistants, bookkeepers, attorneys, real estate attorneys, SEC attorneys, these people are hired right. One of the main things when I got into the into this business I said I want to keep my employee level down I don’t want to babysit people

Rod: And you gonna manage your expenses as well of course

Nizan: Exactly especially when you’re beginning right you can’t just start shelling out money because then you’re stressed and when you’re stressed you make stupid decisions. You make decisions that can hurt you and bring you into

Rod: based on fear

Nizan: Exactly based on scarcity on fear rather than abundance. So I put that list down and I went out and I gathered all these people like I said some people I hire and I pay them and some people are bringing as my team as my teammates right. So now I have two people on my team that are partners and it’s been incredible

Rod: Can we speak to the skill sets of those people? Because you know so these are people you aligned with you’ve partnered with because this is a topic that they feel very strongly about because you know I really believe in the power of playing To Your Strengths and supplementing anywhere you’re weak like like you’re defining here

Nizan: Absolutely so you know it’s very important to know your strengths right you know we hear a lot today you know find out what your weak at and make that stronger right right. I don’t like that.

Rod: Completely disagree with that. I like to take my strengths make those incredibly strong, maximize it exactly and then find the people who can complement or supplement my weaknesses because they’re awesome that yeah right. So I went out and I found those people and I partnered up with them I partnered up with the gentleman who has raised over a hundred and thirty million dollars in capital with when he worked for family offices. I found someone who you know master’s degrees from universities in France, in Miami, in economics. So they know projections they know they know spreadsheets they can do I’ve never seen somebody do you know something with an Excel spreadsheet like my business partner can’t she can make Excel do back flips and front flips and it just amazes me right. And I’m the guy that you know I can talk

Rod: Your obviously the face of this thing, you’re the talking head yep me too same here same here I mean it’s exact same thing and I’ve got a CPA that’s raised a ton of money and loves the spreadsheet and it’s just not me but I mean can I read it? Yes, can I understand it? Yes, do I love it? No.

Nizan: Exactly exactly you put a spreadsheet in front of me I can obviously read it. I can analyze it. I can make good business decisions based on the trends that I’m looking at and whatnot but am I the one that’s going to input all the numbers not not me right. I can go I can build relationships with people. I can get people to look at my track record at our track record at our future and bring them in so that they can invest with us you know that’s kind of what I do

Rod: Absolutely and so can your other partner I guess that’s raised money as well

Nizan: Absolutely absolutely

Rod: Yeah so that guys that’s how you complement skill sets in fact I’m doing a driving force episode on this I do these episodes once a week about motivation and success and I call them you’re driving force success tips and I’m actually doing one on playing To Your Strengths right now so this is top of mind for me but fantastic. So you put this team together and it looks like you are an opportunist because I know you do multiple asset classes so you you know like in New York you struggle with the with the stringent frankly debilitating landlord-tenant laws and you bought office there for example. What other asset classes have you gotten involved in just I don’t want to digress too far but I don’t people know that you know this is this is a great model is to be an opportunist in the entire real estate scheme

Nizan: Absolutely absolutely so you know our core business is multifamily value add right

Rod: okay

Nizan: But we have to be open to other opportunities that come your way I’m not going to run around looking for the for every shiny penny right when something falls on my lap I’m gonna take a look at it and if it’s screaming opportunity I’m going to take advantage of it. So we’ve also gotten involved in a hundred and twenty boat slip marina outside of Charlotte, North Carolina.

Rod: Wow

Nizan: It’s on 14 acres of land and we’re also putting in thirty five vacation cabin rentals that overlook the lake. There’s an annual memberships, there’s a huge pool, there is barbecue, so there’s a lot going on there with also the end in mind is either to sell it as a resort or to sell it to a developer so they can cut up to the 14 acres and build and it’s in an location we bought it at a great time. We bought it when the seller was stressed and we bought it in a zip code area that is one of the wealthiest zip codes in in that area. So we knew exactly where to buy it. We also bought a hotel 240 room hotel in Memphis, Tennessee about a mile and a half from Graceland about two miles from the airport you know we bought it at one point nine million dollars and that was I gotta tell you

Rod: That’s a fantastic price. I was just listening to a Tim Ferris podcast yesterday and the lady was talking about how she loves it if she can buy by a hotel for 100 grand or all in on a hotel at a hundred grand a key and you’re at about ten grand you’re less than ten grand a key on that

Nizan: That’s right send her my way I’m going to sell her my hotel

Rod: I have some bad experiences in Memphis. In fact I probably stayed in that hotel. I remember the name of the hotel but anyway that’s awesome. So what’s your end game for that hotel? So the end game for the hotel is obviously to renovate it, fix it up, bring it back to life, because it was it was actually the hotel that Elvis Presley and his manager used to go to there was a bar called the dad’s place. It still exists and there’s a booth that is blocked off where Elvis Presley used to sit. So you know the community really loves this place but the previous owner ran it down to the ground you know when I walked when I did the walkthrough I saw six police officers pulling a guy out of a room you know for breaking his probation. I saw two drug deals going down. I saw men going into women’s rooms that were paying by the hour. So it wasn’t really the best place to go but it had incredible bones and incredible potential.

Rod: So let me ask you this and I don’t want to, I want to kind of throw this out there now you put together this team that understands economics. You’ve put together someone that under that can that can make a an Excel spreadsheet do backflips and you know how to raise money, you’ve also got another team member that also how to raise money, but do any of you have Hotel specific experience?

Nizan: I was involved in a hotel in South America

Rod: Okay okay all right that’s the reason I asked guys if those of you listening you know if you if you have not done it, do not try to do it without a mentor or help because you will you will get your butt kicked

Nizan: Absolutely

Rod: That’s why I asked the question fair enough okay

Nizan: It’s you know it’s great because you can raise rent on a daily basis. You can also kick people out immediately without if they don’t pay you that day however there are you know if you have 22 moving parts and a multi-family deal in a hotel you’ve got about a hundred and forty.

Rod: Right right right there’s so many pieces and that’s why I asked the question because it’s not for someone that doesn’t know what they’re doing, that hasn’t been involved in it, or partners with someone that knows what they’re doing that’s probably the easiest way to do it okay fair enough. Let’s go back to multifamily. I know that you’re closing on a deal today correct? like a 70 unit property?

Nizan: 76 unit property, it’s in Lilburn, Georgia. It’s in Gwinnett County

Rod: okay so that’s in Atlanta right?

Nizan: yeah it’s forty minutes outside of Atlanta, it’s in the fastest growing County in Atlanta and I think it’s in the top five counties in the US. It’s going it’s set to outpace Atlanta and growth by 2030 it’s huge there’s you know a lot of people basically what happens in in all major cities right. The middle class gets kind of squeezed out right, rents are increasing, people you know you need you need three jobs just to pay your rent.

Rod: You’re talking about in like an urban all

Nizan: Right right yeah so people getting pushed out and now they’re going out to the suburbs and Lilburn is one of the suburbs that’s really close to Atlanta and this property is probably one of the last safe havens if you will for where rents are extremely below market.

Rod: So how did you find the deal?

Nizan: Great broker relations

Rod: okay

Nizan: Great broker relations and knowing the market right. So the gentleman that I’m involved in that that we partnered up that has that’s done all the raise and work to family offices he’s built all these relationships with these brokers these past ten years that he’s closed with right raised one hundred and thirty million dollars working with these brokers he’s closed. He has a good track record. So he partnered up with us and what we partnered up with him we created this this team and now he’s going out to the broker is he saying look I’m working with these guys this is their track record I’m working with them now let’s make it happen. So the one broker got us the fifty unit that we bought that we closed on in April and he gave us a seventy six unit and behind the 76 unit we already have under contract in Athens, Georgia two more assets another forty four unit that has a master lease option on that and another hundred and twenty seven unit that we’re going to, we’re going to acquire and because we have the relationship with the broker and we’ve closed with this broker already, he’s given us or he’s helped us get a long extended runway to close on these assets because we know he knows we have them one behind the other. So it’s really good to have those very strong broker relations

Rod: no question so then you know those were historical relations. What would you tell an aspiring real estate investor that needs to build those relations?

Nizan: The best thing to do if you’re when you’re pinpointing a market to go to or to invest in, take a day, take two days, fly out spend the money right. Today you can get you know spirit for right in eighteen ninety eight hundred bucks

Rod: And break bread with them right?

Nizan: Amen amen absolutely cuz you know it, you know I one of my hats that I wear is also a commercial broker, I don’t I have my license I have my brokerage I don’t necessary work as a broker but it’s one of my things that I haven’t you know if I’m going to work with a new buyer and they’re calling me from you know Alaska or Utah or New York or LA or Chicago it doesn’t matter where. Hey I want to come you know I’m looking to buy on your market and I’ve got five guys that I know personally that I’ve come to visit me that that shared with me that are building relationships with me that I have a track record with I’m going to go with them first.

Rod: no question

Nizan: So fly out there break bread with them. It shows them that you’re serious, it differentiates you from everybody else

Rod: Now no question and so here’s the sequence guys when you and you said it earlier you said become an expert in the market. So as part of that process you’re calling the property managers, the brokers, the local real estate attorneys, the local contractors, and just any of these other components of your team you’re calling them on the phone initially so that when you go out there for two days, you’re back to back you got a lunch plan, you got breakfast plan, you’ve got dinner plan, you’ve got a coffee in the afternoon. So you’re maximizing your time and meeting these people and letting them see your sincerity and your passion and your integrity and that’s how you get these relationships going all right

Nizan: Absolutely and it’s you know you know people think well you know I have to sound like I know what I’m doing or I know what the market and you know the best thing to do what I do is I just go in and I tell them listen you know what we’re gonna come in hard into this market we’re coming and we want this market. I don’t necessarily know the exact places to go. If you’re going to be my broker I need you to direct me to the best locations, the path of progress, listen why don’t we get in your car and spend the next 45 minutes and you can show me the best areas to acquire it and if you do that with two, three, four, five brokers, you now have a map of where each broker thinks and funny one broker sent you that way another broker sent you that way right

Rod: Right

Nizan: So now you say okay who do I need to listen to who I go and you start researching and you can do your own research with that and when you’re talking to real estate attorneys you know where have you had a lot of you know issues with you know buyers and sellers when you’ve done closings? you know  all these questions

Rod: Same with property management companies

Nizan: Absolutely

Rod: What are the paths of progress? where do I not want to collect rent at night? you know what you know all these all you can get so much information is there are there any areas that are gentrifying, you know what businesses have moved in and moved out you know all of these important questions so that you become an expert so that you understand what the market rents are for the typical you know for the asset classes that you’re interested okay awesome awesome. So I know that um, so when you were starting out in your real estate career, were there any like aha moments for you? I mean I know you had your father’s wisdom and pushing you but as you were getting rolling any aha moments?

Nizan: Yeah aha moments were you know one of them was I can’t do everything myself. I want to think I can you know I always I always joke around and I tell people you’ll never find Batman and me in the same room together but really you know you know my business partner said it best you know when you’re buying multifamily or any commercial real estate, it’s like running 12 marathons and to finish you have to cross the line on all 12 marathons at the same time. I don’t know about you but I can barely run down to the block and back you want me to run 12 marathons by myself, not gonna happen right excuse me so the aha moment was I can’t do it all myself right

Rod: And you were doing it all yourself like the house-flipping thing

Nizan: Absolutely

Rod: That’s when you had that realization. So those you guys listening that are doing single family don’t even think about trying to do this yourself. Multi family real estate is a team sport period right’

Nizan: Absolutely absolutely you know and you know you think of flipping homes I found myself you know with sheetrock drive handing it on the ceiling and I’m you know I’m looking at myself going there’s got to be a better way to do is

Rod: And that the best use of your time you know what are you really worth you know you might ask yourself of that question if you’re doing things that that you can leverage, you likely shouldn’t be doing them

Nizan: Rxactly exactly exactly

Rod: What’s the most challenging part of your, what you’re doing right now? what would you define is the most challenging part of your role?

Nizan: The most challenging part would be making sure that all the pieces fit together you know. I’m what you call the sponsor on the deals right. I’m the guy that signs on the on the mortgage. I’m the guy that comes with the experience with the net worth with all that sort of you know for lack of a better phrase like the skipper of a ship right. The skipper knows how to maintain the engine knows what the engine needs but he’s not the mechanic, he’s not the engineer right. He knows how to pilot the ship but he’s not the guy spinning the wheel. He’s not the Navigator but he knows how to plot courses and knows how to read the map. So it’s very challenging to keep all the pieces moving forward and whatnot and you know it’s a great example we had you know on the on the deal that we’re closing today. We were going with a lender that came to us and said you know the purchase price was 4.4 million. They said we’re gonna give you 3.4 million dollar loan to value based on a 4.4 we said wow that’s fantastic that’s great, so all we have to do is raise a million dollars plus closing costs fees and so forth that’s nothing we can do that. We’re working we’re moving along everything’s fine and dandy in about three weeks ago, three weeks before closing, they come to us and say you know what guys you pointing their finger at us you under wrote this wrong. We said I’m sorry I’ve got a gentleman here who who’s been underwriting for the last ten years, I don’t think we made that well the underwriting there was a mistake so we’re lowering your proceeds by seven hundred thousand dollars. I said how can you do that three weeks before closing you’re just throwing yeah you’re throwing a wrench into my spokes into my bicycle spokes and you’re flipping us what I doing? Well you know it’s because of the underwriting and so I got my partner the phone with their underwriter and we went through it and we got them three times to say that it was their mistake hmm not ours cuz if it was my mistake, I’m changing careers. I’m not in this business anymore right. But we got them to say that it was their mistake

Rod: But still they still won’t raise the loan amount okay because you know they’ve got to manage their guidelines Wow yeah we had a similar thing happen on a deal we just closed last week as well and you know it’s happening more and more right now because you know because there’s a looming contraction and I think they’re starting to get uncomfortable rates are creeping up pretty fast you know. So I know that well let me ask it I asked you what’s the most challenging part, what’s the most favorite part of what you do right now?

Nizan: oh and about what time is it, in about an hour from now when I get the call from the closing agent and they say congratulations Mr. Mosery on a successful closing. I pick up the phone I call the property manager that’s waiting outside I say go for it

Rod: Go in and get the keys yeah love it okay

Nizan: I also love the part where I’m looking at my banking not my bank account the bank account for the company that we’re raising money into and I see the money flowing in. I see the PPM’s coming in I see that tells me that people are trusting us, they’re trusting our track record, they’re trusting our underwriting, we built the right relationships, and it’s working, the system is working, and that is just a great feeling to have

Rod: It sure is yes so what was the wisdom when you share with an aspiring real estate investor someone that that you know, knows they should be doing this hasn’t pulled the trigger yet, maybe is on some single-family, a duplex or you know but they know they want to do larger things what would you tell that person?

Nizan: Find a mentor, get educated,

Rod: Right

Nizan: Get educated. Read as many books as you can about commercial real estate, read books you know it doesn’t matter from who doesn’t matter what read read read read, get educated and then go out and do it you know. I was talking to someone you know not too long ago and from what I was gathering from them was that they were afraid to make a mistake and that’s why they hadn’t gotten started. And I told them I said you know what, deal with it we’re all gonna make mistakes

Rod: Get someone that looks over your shoulder and as you know guys if you haven’t downloaded my free 200 page book you’re making a huge mistake because it’s like a textbook for this business. Educate yourself and you said and then you said just do it and that’s why in my live events I spend a significant amount of time helping people push through fear, defining their goals, defining what it is they want, their version of an ideal day you know so that so they trigger the reticular activating system to focus on what it is they want and push forward. Now I know you enjoy talking about goals as well so let’s have that conversation what pushes you? what makes you jump out of bed in the morning? what drives you to keep pushing forward?

Nizan: Well you know that’s a great question. In my life that WhY has changed and it’s okay to change because as you grow, as we grow, as we grow in age, as we grow in wisdom, as we grow in life and experiences, our perspective, our you know our needs change right. When I was younger my WhY and if I may say this my WhY was to shove it up my brother’s ass

Rod: oh that’s Wow okay

Nizan: I needed to prove to myself that I was better than them. I needed to prove to them that I could do it right. And then when I got older I realized I don’t need that anymore I don’t need to prove it to them I have to prove it to myself. So why am I getting out there for me I want to see how big and what I can do for myself. And now I have two amazing daughters you know nine and 12 or nine eleven and my wife has changed it I don’t do it for them, I do it so that they can see what a successful person looks like and be the example for them. I don’t wake up and say I’m going to make money from my daughters no because you know what happens if you already have money why? then why are you waking up from from bed why are you doing it it’s not the money. I want to be the example. I want to be the man in their lives that when they grow up and they do search for a partner doesn’t matter what gender or whatever if they search for a partner what qualities will that partner have and I want them to I want to be the example for that. So that’s kind of my why, my love my desire for doing what I know

Rod: Now guys those of you listening if you’re in the wrong relationship even, get out because if you have children they’re gonna model what they see and you know Nizan’s example of showing your children what success looks like you know you need to each everybody listening to me right now needs to find their leverage. Find what’s gonna push them to take action and if you have children there that’s a great leverage tool. You want them to see success and you know when in a you know I take you know my coaching students and people at live events through this goal-setting workshop and we talk about of course defining your goals but then we get into the why because they’re why is what drives you and you’ve got to find that leverage on yourself and children are great a great way to do it because you want them you want them to experience and because they’re gonna model whatever they see. So you want them to see you know you have to be very careful about what you allow them to see. And it’s very fascinating what you just said you needed to prove something to your to your brother, for me it was really to the world in general you know you get picked you must have you know had conflict with him and I had conflict with kids in school and so I had to prove to the world I was good enough. So you know I went out there and you know built this huge home this testament to my ego and it was kind of and I tell the story it was kind of kind of interesting where I was floating in the pool this you know this 8 million-dollar 10,000 square foot house on the beach and it was about a month after I finished it and I got massively depressed and that’s like what’s going on I worked for this for 20 years it was my goal and that’s when my you said you know that your Why changes. That’s when my Why changed and I started instead of focusing on Rod Rod Rod, I was I started focusing outwardly and started a charity and that’s turned into something amazing and so you know it’s great to hear someone else that had an epiphany like that and realized their bigger things than having to prove ourselves right

Nizan: Absolutely absolutely absolutely it’s not about proving to others what you can do, it’s being the best

Rod: It’s only yourself really

Nizan: It’s owning yourself. If you’re living in this country if you’re living anywhere else or anywhere in the world, you need to be the best that you can be because of all those other people that came before

Rod: because of the gift that you have by being able to live here and it truly guys those are you listening yeah it’s a gift I’m an immigrant as well and we are so blessed to live in this incredible country I mean I truly thank God that we’re given this gift because that’s really so you know you know even if you’re in a job that you don’t love not making you know maybe you haven’t reached the level of success that you want I want to tell you if you want to do some contrasts, do some contrast with the rest of the world because we have such a gift in this country. So let me ask you this Nizan, what if you could go back in time I mean you’ve been in this business a long time now, you’ve had your father’s influence but if you could go back and tell your 20 year old self something about this business what might you do differently? what might you say that person?

Nizan: I would say start sooner start sooner.

Rod: I’ve heard that answer so many times. It’s so true guys so guys those of you listening get the education. I don’t care go get it find a mentor and get started okay I don’t care you know even if it takes you to look at 300 properties to find one start looking, start making those relationships, make those phone calls, pick a market you know, and realize and discover where you need help and where you have deficiencies, align yourself with people go to local real estate investor club meetings, get out there meet people, start the relationships and get going

Nizan: Absolutely

Rod: All right well do you have a favorite quote because I know you’re a very driven guy and you know you’ve got your own radio show, by the way what’s the name of your radio show?

Nizan: It’s called the Traveling Investor

Rod: Traveling Investor

Nizan: Yeah it airs every Thursday at 1:00 p.m. and I would love to have you on my show. So I can tell you sure

Rod: Yeah I’d be an honor. Thank you so what’s a favorite quote or two-

Nizan: One of my favorite quotes is fake it till you make it

Rod: It’s a good one act as if

Nizan: Act as if you are already that person you know. If you’re if you’re making $20,000 a month and you’ve got ten thousand units and you’re under your belt and you got all that experience. How would you talk to a broker? how would you talk to your network? how would you talk to people? become that

Rod: Yep right and you know and that’s and you will become that if you act that way. So that’s great advice okay

Nizan: Another one of my favorite sayings is “Successful people do the hardest thing. They build relationships”

Rod: Oh that’s awesome yeah that’s awesome no that’s a good one actually. In fact Trump, no its Kiyosaki that has a great quote about relationships. Awesome awesome we’ll listen Nizan, it’s been a real pleasure. I really have enjoyed interviewing you and I appreciate you taking the time to be on my show and

Nizan: Thank you it’s been great. I appreciate it

Rod: Well that definitely all right well let’s definitely stay in touch my friend

Nizan: I look forward to it all right appreciate it

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Thank you for listening to the Lifetime Cash Flow Through Real Estate Investing Podcast.

If you’ve enjoyed the show, please take a minute to visit iTunes and leave your comments. For more resources or to connect with us further, please visit our website at rodkhleif.com. Tune in next week for our next show.

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