Ep #755

From Mount Olympus To Multifamily Real Estate

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Throughout his career, Adam Dailey has been known to create his own unique path to success.  A former professional athlete, Dailey is also an accomplished entrepreneur, business leader, investor, traveler and speaker.

  • RV Parks, Hotels, and Hostel Real Estate
  • Expanding and Looking For New Markets
  • Being Creative and Solving Real Estate Problems
  • The Flexibility of Real Estate Work/Life Balance
  • The Coming Unpredictable Market
  • Taking Action, Forgetting Fear, And Going For It

To Apply for The Warrior Program: Text CRUSH to 72345 and we’ll help you crush it in this business.

Full Transcript Below

Intro
Hi. My name is Rod Khleif, and I’m the host of “The Lifetime Cash Flow Through Real Estate Investing” podcast. And every week, I interview Multifamily Rock Stars, and we talk about how they built incredible wealth for themselves and their families through multifamily properties. So hit the “Like” and “Subscribe” buttons to get notified every Monday when a new episode comes out. Let’s get to it.

Rod
Welcome back to Multifamily Rock Star. So, as you guys know, this is where we interview people that are just flat-out crushing it in this business. And we show you guys the inside scoop as to how multifamily investors are creating massive success in their businesses and also in their lives. And as always, I’ve got my co-host, who’s the director of our massive action team, Mark Nagy on the call. Mark, what’s up, brother?

Mark
Well, you know, we had our boot camp a few weeks ago, and so I’ve just been slammed with close to 200 people that have been applying for the Warrior program. So, you know, I’ve been slammed with that but excited to see a friendly face here and do another interview here to put out for us.

Rod
Absolutely. So, today, we’ve got Adam Dailey for our interview, and he’s a unique individual, and I’m going to have you explain his background. But I’ll say a few things. I mean, he’s a five-time All-American runner, and he actually was– how do I want to say this? Was involved in the Olympics. You know what? I’m stealing his thunder. I’m just going to let him explain it because I’m just going to screw it up anyway. So, Adam, welcome to the show, brother.

Adam
Thank you. Thank you for having me. It’s so great to be here.

Rod
Yeah. You’ve got such a cool bio. You’ve done so many things. I actually, normally, I tell people, you know, blow through it quickly, you know, on this bio thing, but I want you to, you know, just touch on some of the things you’ve done because they’re very unique and interesting. So tell us a little bit about who you are.

Adam
Like you mentioned, I was a runner in college. I went to kind of the best school there was at the time for track and field, and I was at the University of Arkansas and competed in the Olympic Trials after that. And through that, the opportunity got access to a bunch of tickets. And that was kind of three years or so later after I’d retired from running. And I was working, and I didn’t really like what I was doing, but I was very entrepreneurial. And so I bought a bunch of tickets and I ended up moving to Athens, Greece, and setting up a company that brought athletes, families and sponsors, and whatnot to the Olympic games. And we did that, made some money in Greece, and then we said, well, we don’t really have anything, you know, next. So we went to Italy and did the same thing for the Winter Olympics. And that whole thing kind of turned into a bigger business that ended up kind of crashing and burning, and from 2012 to 2014. And I ended up at that point in 2014, taking a year off with my family. And we went and traveled around the world with four little kids, four kids, six and under, and all along the way was kind of starting, you know, with doing real estate stuff, smaller deals here and there, kind of acquiring single-family. We did an office conversion in 2012, 2014 that did actually take– that we turned into a very profitable Airbnb. So that’s where I kind of got a taste of it. And through my events business, I’d spend a ton of money buying hotel blocks. And I was always like, man, I want to be the guy who owns the hotel. I mean, I wrote a check for a million dollars in Vancouver in 2010, The One Hotel, and I was like–

Rod
Wow.

Adam
What an amazing opportunity to have that opportunity to sell out every night because I guess I’m a salesperson kind of at heart.

Rod
Right.

Adam
And so the opportunity to sell out, sell out, sell out, over and over was always attractive. So, eventually, I started getting more into the hotels, Airbnbs, hostels, that type of thing, here in San Diego, California.

Rod
Wow. Well, I know, you know, you wrote a book as well, “How to Run Away from Home: And Bring Your Family With You”. The sabbatical sounds really cool. I’d love to know a little bit more about that. And you’ve been featured in the Wall Street Journal and USA Today, New York Times, very, very cool. You’ve done a lot. And so, I know you’ve been a Warrior for about a year, and you’ve got an RV park, you’ve got a fourplex, you’ve got a 55-unit hotel since then. Very, very cool. And yes, you need to turn in your Warrior winshey so we can get you your sword as well.

Adam
I do.

Rod
Oh, you did? Okay-

Adam
No, I do. I need to do that.

Rod
Oh, you do? Got it. Okay.

Adam
[inaudible]

Rod
Yeah. Whenever one of our Warriors gets their first deal as a Warrior, they get this really cool sword that we send them. And it’s not just this cheap thing. It’s really cool. So, you know, we’ll have to make sure that happens. But, you know, before we get into the real estate stuff, tell me a little bit about how you go travel for a year with four kids. I’m just curious. This is just to satisfy my own–

Adam
Yeah, of course. I mean, we get this question a lot. Like, I kind of mentioned I was– I got my butt kicked pretty bad in the London Olympics and kind of took a couple of years to lick my wounds, I guess. And I was rebounding the business, and at the time, I was making good money, but I was spending everything I earned, and I was like, this is not the life I want. And if you wrote me a check for $15,000 or whatever I was making at the time, every month, the hypothesis was like, what would you do? And I’m like, not this, you know. So I travel. I could travel the world for $15,000 a month. And so that was kind of the idea I had in my head. And we just didn’t have– my family didn’t have somewhere we needed to be where– kids were young. And there are always these reasons why I could have taught myself out of it. My kids won’t remember, you know, or my net worth will literally probably go down as a result of this. I’ll probably have less money than I– at the end of the trip than when I started, but I just needed it, and I knew I needed time to think and be with my family. And I was like, I’ll have a better time you know, looking out at the ocean in Santorini than I will you know, stress out about my mortgage payment here at home, you know. That was the idea. It was hard, you know, but by the end, after a year, my kids were used to that. When we showed them where we were going to live after a year, they were like, oh, we don’t get it. There’s no furniture here, you know. They didn’t understand the concept of like unpacking their bags and actually settling.

Rod
So you went to Greece, you went to Santorini, you went to– all over then. Wow. In fact, it’s really funny because literally, I’m booking a cruise to go back there again with my brothers at such a cool place. Well, listen, we’ll go over to real estate now. People are like, okay, come on, let’s talk real estate. I’m here to learn about real estate.

Adam
Yeah.

Rod
Well, I have this question. You know, why did you join the Warrior program? Because, you know, I noticed that you haven’t really done, “multifamily”. You did a four-plex. But what was your thought process for joining? I’d just be curious to know the answer to that question.

Adam
I mean, I’ve heard you talk a lot about Masterminds, and I’m a big believer in Masterminds in general, and I’ve been very involved in an Entrepreneurs’ Organization, which is specifically for business owners over the years. But what I found I was getting out of that organization was very general and strategic, and I needed some more kind of tactical. I was going to my peer group and saying, I need help on how to structure this deal and I wasn’t getting that from kind of my network. And so I was reaching out. And I’d been listening to your podcast before that, so I was curious and ultimately wanted to, you know, sharpen the sword, as you would say, and learn more of a new skill set and more, you know, understand different asset classes. And I was also very interested in syndicating, and I knew I could get that from you and the rest of the Warrior group.

Rod
Yeah, okay, good. Well, you know, you mentioned Entrepreneurs’ Organization. I just want to give them a shout-out because that is a really cool group. I’ve never joined it. I just heard nothing but good things about it. And, you know, the only reason I hadn’t joined it was because it’s in Tampa. That’s an hour away. I’m just too lazy to drive up there. They don’t have one here in Sarasota, but that’s awesome, and I would recommend it to anybody. If you’ve got one in your local area, you know, it’s a pretty cool group to belong to.

Adam
Absolutely.

Mark
Yeah. So I want to get into those deals. A lot of unique things, right? California, RV parks, hotels, not a lot of stuff that we talk about on this often. What’s been your strategy about where you’re doing deals, the types of deals, and then what do you do with them afterwards when you do buy them?

Adam
I mean, everything I’m doing, I’m looking, first of all, value add opportunities. Right? I don’t want something that someone else has fixed up and made pretty. And ultimately, I’m looking for another way to make more revenue than you might see in the deal. Right? So it’s like I’m looking like, oh, what do I see that no one else sees? If I have a property around the corner that I’ve done Airbnb with, I know the market. I know that it can do, you know, 40% more than anyone else knows. And I know, you know, on a mixed-use deal, I know that the residential guys are scared of the retail down below, whereas the retail guys don’t want to touch the multifamily stuff upstairs. So just different, I would say, ways of looking at revenue. And can I get a bump on revenue somehow from an opportunity that a bunch of other people aren’t seeing? Southern California is super competitive, so that’s also why I’ve kind of got this niche of, you know, hospitality with Airbnbs and hostels and hotels because it’s frankly a little less competitive. It’s still super competitive, but it’s just a few less guys going after these deals.

Rod
So you like to stay close to home. I mean, you want to be able to kick it and touch it and all that stuff.

Adam
Yeah.

Rod
And I used to be like that. The thought of owning property in other states was really pushed against my need to have control. And, you know, now we’ve got assets in seven states. But, you know, I’m going to encourage you to consider that, honestly, because I think you could scale more, and you are in a very competitive, highly regulated environment as well. So that hotel, did you syndicate that one, or how did you take that one down?

Adam
We did, yeah. We syndicated it.

Rod
Very nice.

Adam
So we syndicated. We got a construction budget with it, and, you know, part of the reason, like you mentioned, that I did join Warriors also is to expand the way I’m looking at things when you talked about going into new areas.

Rod
Right.

Adam
And I saw that in the beginning, it’s not a badge of honor that I’m only doing deals in San Diego. When I go to Warrior events, I’m almost embarrassed by it, you know, but I want to learn more about that, you know. And I have learned a lot from the Warrior group about these other markets.

Rod
Sure. And it is a big shift because, you know, especially for those of you in the single-family space, you’ve got some duplexes or whatever and it’s all in your backyard. And then the thought of buying something that you don’t live near, I really struggled with it. I’m going to tell you, I personally really struggled with it. And, you know, the key is, obviously, to find a good third-party management solution to handle your asset. Just another quick question about the hotel. Are you operating it just like a hotel or are you Airbnb’ing and doing some other things there to boost the income? Just curious.

Adam
So when we bought the asset, it was what’s called a single resident occupancy. So there are people renting it kind of month by month for about $1,000 for like a small hotel room with bathrooms. And, you know, not all the rooms have their own bathrooms, even.

Rod
Wow.

Adam
And so, what we saw an opportunity to do is create more of a boutique hotel. So, again, we’re kind of doing– I’ve talked to a few Warriors they were like, oh, we’re buying a hotel and turning into multifamily. We’re kind of turning multifamily into a hotel. But we also– I mean, that’s another thing, you know, Mark could ask what I’m looking for in terms of deals. I’m looking for things that are not– there’s not only one path to success. Right?

Rod
Right.

Adam
So, for me, I’m looking at these rooms and when I’m building them, I’m going, this is the vision to do a boutique hotel, or whatever. But I also want to keep in mind, like, well, if people have to stay month to month, if there’s another Covid, if there’s some situation that forces me into a corner, I want to be able to– whether you know, do a master lease or I want to be able to run a hotel or run it by monthly or whatever. I want options, right?

Rod
Right.

Adam
And so, when I’m looking at any deal, I want to know, look, I don’t want only one way out to success. Right?

Rod
Yeah, no, that’s very prudent, actually. And, you know, I know somebody’s super successful in the Airbnb space. I met him in a Mastermind, actually, and he told me he won’t buy one unless he’s got an alternative exit plan, like a long-term lease, renting, or whatever. So it’s really prudent. And I just want to mention one other quick thing. You know, the most successful people definitely in the multifamily business are the best ones at solving problems or being creative, and being creative in how they, you know, approach something, which you are absolutely a poster child for that, you know. And then, of course, even though you’re not technically multifamily right now, that mindset is some of the most successful Warriors I know or people I know are the ones that have that– adopt that mindset. So, yeah, good job.

Mark
Well, how did those things change for you? Like, what your progress looks like before you became a Warrior, and then how did that change, you know, once you joined the team and got a mentor and worked with us?

Adam
I mean, you guys have mentioned this, I think, before in the podcast. Anytime you can be the dumbest guy in the room, I think it serves you well. Right? And so for me, it’s learning from others, hearing what others are talking about, seeing kind of what’s down the pipeline in terms of how the overall market looks. But also, just for me, like I said, I wanted a bunch of tactical stuff, too. I don’t have you know, an operating agreement for a single entity, you know.

Rod
Right.

Adam
There are just little things that I’m also benefiting from being part of the group as well that are again, super tactical that I just wasn’t able to do beforehand.

Rod
Sure. So you’ve got four kids.

Adam
I have five now. I had the fifth.

Rod
Five. Okay. [inaudible]

Adam
But I’m done. But it’s over.

Rod
Okay. Talk about that a little bit because I know that people will listen to the show and they’re like, man, how do I do this with my full-time job, with my kids, with my family? So how do you manage that without sacrificing you know, quality time with what matters most?

Adam
I mean, there are a couple of ways to answer it. One is that it’s hard to balance, right? I mean, that’s the reality, is it’s hard to balance these things. Another is the fact that I got into real estate specifically to create freedom, right? To create flexibility so I can do what I want, so I can do an interview with you and not have to ask my boss you know, if I can take off and do an interview. And so, it’s given me the opportunity to spend more time with them, to have flexibility. And it’s also like, once you kind of figure out how good real estate is, I’m like, I want to teach my kids this. I want them to– I bring them to the job sites. I bring them and explain to them, like we just refinance this, and I write it all on a piece of paper and like, we own it. We don’t have any cash in the deal. We still own it, you know. I want them to have that education because I feel like it took me the better part of my adult life to really understand how good of an asset-class real estate is.

Rod
Yeah, no question. By the way, you know, we talked about the Warrior program. If you are listening and you would like to apply, text the word “crush” to “72345”, and let’s see if we can help you crush it in this business. Like Mark said, we just had our Warrior event. We do a couple of Warrior events a year because we’ve discovered that our most successful Warriors are the ones that are the most connected in the group, by far. And so we started doing things to help facilitate those connections, and one of them is these events. So we just had, you know, I don’t know, 280 people here in Sarasota just last weekend, and it was a lot of fun. But again, if you want to inquire into that and apply, there’s an application process. You know, we don’t take everybody but just text “crush” to “72345”. So, let me ask you this. You know, in this very unique path of yours, background of yours, you know, were there any like aha moments were like okay, epiphanies, like you had an epiphany at any point. More– I mean, I’m sure you have tons of them but related to real estate specifically, does anything come to mind with that question? I know I didn’t prepare you for these but–

Adam
Yeah. I mean, I think like I said a few years ago, once I started understanding the numbers and then started paying the taxes which weren’t real taxes, you know, I was like, oh my God, why wasn’t I doing this earlier? I think of moment you know, for me, one of my business partners was kind of a role model for me and he was one guy, and had you know, a half-time bookkeeper and no employees and he had you know, kind of a $25, $30 million portfolio or maybe even close to that in net worth. And I kind of emulated him and partnered with him on a project and he ended up passing away during the middle of the project. It shook me up for a long time but also eventually, kind of, you know, six months, nine months later used that to kind of inspire me of like, oh, what would he want me doing? You know, would he be you know, feeling sorry for himself at this point? And then I also was like, look, that’s the life– I want the life that he was creating for himself or that he had created for himself. So, to me, it’s like we’ve talked about it’s like the idea of flexibility, the idea of freedom, the idea to kind of do to control your own destiny. I think those are the epiphanies.

Rod
When you saw that, yeah, love it.

Mark
So I got a two-part question for you. First part, really around the same topic, right? First of all, the market, right? It’s a big topic, hot topic, where everything’s going, interest rates going up, the market going down, etc. And I usually get one or two people when I talk to them. Either number one, it’s like, hey, I’m super excited because the market is going down, there’s opportunity. And then I get the other people that are saying, well, I just want to wait and see a little bit and see where the market goes and then I’ll take action. So firstly, what are your thoughts on the market and where it’s going right now? How do you feel about it? And then secondly, what would you tell those people that are maybe saying oh, I kind of just want to sit back and wait before I do anything.

Adam
I don’t think we’re at the bottom right now. I don’t know if it’s going to get as bad as Rod thinks it’s going to get, but I do think it’s not the bottom. I don’t know if there’s going to be a ton of pain from– on a grand scale because everyone’s had the past couple of years to kind of refi, to kind of optimize their own portfolio. So it’s hard for me to envision systemic, like, chaos you know, in terms of the market-crushing, but we also have so many crazy things going on that we’ve never dealt with at the same time that it’s unpredictable. What I’m kind of surprised at is I’m seeing a lot of my friends and kind of colleagues and whatnot who have five, six, $800,000 sitting in the bank, and they’re terrified to deploy it. That kind of makes you go, aha, on a couple of levels of one, you’re like talking about like that’s– we’re trying to stimulate the market by raising interest points, and all you’re doing is kind of terrifying people in a lot of ways with the uncertainty and on kind of the second part of the question I think, I mean, a deal is a deal, right? I mean, it’s like if you paid $10 million today and it goes down to nine, well, if it penciled out of ten, I mean, hopefully, you’ve done that one and moved on to the next one. So I think it’s like you can’t look at it with rose-colored glasses, but you also can’t, you know, think that the sky is falling and you have to underwrite it and look and make sure it pencils out. And for me, I’m looking at the opportunity being more kind of owner finance deals, more off-market deals, you know, and kind of the same thing, looking for these weird distressed assets that I know fundamentally, a lot of the owners, the sellers don’t like owning, so it’s like feeling that pain. And then especially here in Southern California, they also have this pride of like, well, you know, my neighbor got $10 million, so I need to get $10 million. And it’s like you said, if the $10 million pencils out and you can get it for $10 million but zero interest for five years, and you know, you overpay. But hey, the numbers are the numbers. And so I think it’s going to be a matter of being creative and looking– but also not being too creative where you’re lying to yourself about the numbers, right?

Rod
By the way, guys, he just gave you a hell of a solution, a creative solution to a deal. Guy wants $10 million, fine, but no interest payments. You know, no interest on the payments. So that’s the way his brain works, which is very impressive to see that. So back to Mark’s question about the economy. Now, we’re having this conversation on Election Day, okay? So be interesting to see how it all shakes out. But I really believe that there’s going to be a big shift politically, and I don’t care what camp you’re in, but there’s no question that there’s a huge left influence on the media. And so, I actually believe that things are going to appear, start to appear really bad because they’re going to want to make the Republicans look bad. So, you know, whether you– again, I don’t care what camp you’re in. It doesn’t matter. But the point is, I think perception is reality. And I do believe the perception is going to get ugly because they’re going to do that. Again, I could be wrong. I’m wrong all the time, but let me read a headline that I just got from someone on my team. This was in Bloomberg. 37% of small businesses which employ 50% of Americans couldn’t pay their rent in October or all their rent in October. So that’s a pretty staggering statistic. And, you know, but what’s interesting, though, is I used to have a litigation support company helping people in foreclosure, and I sold that business a few years ago, and I talked to the guy that bought it today and I said, what’s going on with the foreclosures? And he said, well, you know, there’s a huge rush of them, a ton of them because they had the moratorium and they canceled the moratorium. But he did say that a lot of them are able to sell, but he doesn’t think that that’s going to last forever because with interest rates, prices are dropping very, very quickly. So it’s going to be interesting to see how it all shakes out, you know. And then you know, the last time I looked, 20 million families were behind on their utility bills. Again, I’m not trying to scare you all listening, I’m trying to let you know I believe an opportunity is coming. You know, Adam and Mark here maybe don’t, but I do. I think we’re going to see some great deals where there’s no way we’re near the bottom. I’m just going to tell you that right now. I don’t even think we see the bottom yet. So, we’ll see. You know, you listen to people like Kiyosaki, that wrote “Rich Dad Poor Dad”, you know, he’s been talking about it forever, but he thinks it’s going to be really bad. And, you know, Elon Musk thinks it’s going to be–

Mark
[inaudible] he’s talking depression. [inaudible]. I’m not going to go that far. Yeah.

Rod
Yeah. Well, who knows.

Mark
Correction, I think, for sure.

Rod
But again, it’s an opportunity, okay?

Mark
Yes.

Rod
So, you know, that’s the point I want to make since you brought it up, I had to interject. I know this is your interview, Adam. I’m sorry I stole so much of your time.

Adam
No, I agree with you. I agree with you.

Rod
All right. But anyway, so, you know, what’s the driver now? Is it family? What’s the why? What makes you jump out of bed? Because you obviously love what you’re doing. What is it that’s driving you right now?

Adam
I mean, like you said, it’s fun.

Rod
Right.

Adam
But I think that my why– I mean, I think the kind of knee-jerk reaction that everyone says is their family, and that’s true. But I think for me, it’s almost a layer below or above that of freedom and flexibility. And for me, I will choose nine times out of ten that freedom will allow me more time with my kids. But that freedom also might be, hey, buddy’s in town and I want to go get a beer at four in the afternoon on a Thursday, you know. And I want the freedom to make that choice as well. So for me, the choice is generally going to be family, but it’s really about doing whatever I want to do. I mean, I’ve never been a great employee, and I’ve always just kind of controlled my own destiny and it’s not always worked out for me, you know, but at least I had the control and I want the control and I want the flexibility.

Rod
Interesting. Which is why you haven’t gone out of California yet. That what you just said.

Adam
For sure. For sure.

Rod
I hear you, brother.

Adam
For sure.

Rod
I got to tell you, my hats off to you, man, because you know, to leave for a year, I mean, I wish I had the conies just to go do that, take my wife and say, screw it and go have fun. And, you know, you’re inspiring and I’m sure I know you’re inspiring other people to consider it, but you know, we have a lot of listeners, and I’ll sleep with this question. This could be the last one or two, but, you know, we got a lot of listeners that know they want more, that are in the quasi rat race, or they may have a job, but they don’t love it. They don’t freaking love it. And, you know, what might you say, words of wisdom, might you share with someone that hasn’t pulled the trigger, hasn’t taken action yet on their dreams, honestly.

Adam
I mean, it’s nothing you guys haven’t said on this podcast before. It’s action, it’s execution. There’s so much fear of doing– I’ve talked to so many people who are podcast experts, right? They know how to do it, they know how to underwrite, but they won’t do it.

Rod
Right.

Adam
And they’re quoting things in their head from two years ago of like, oh, I should have done it two years ago. Now it’s too late. And so I think it’s ultimately, like you’ve said many times, it’s just doing it. It’s getting off the couch, doing a deal, and it doesn’t have to win. Like, you’ll learn just as much from doing a crappy deal as you will a good deal, and you’ll make relationships and you’ll be able to use those learnings to do more. So it’s really, to me, it’s just taking action no matter what and not just being in your head, not just listening to more books or podcasts or reading more. It’s making offers. It’s doing real underwriting, it’s networking with brokers and ultimately getting deals under contract. And you’ll never learn as much as you will from actually doing it.

Rod
Agreed. And recognizing if Rod’s right, it could be the greatest transfer of wealth in history. Even if I’m wrong, everything’s going on sale. Regardless, everything’s going on sale. So there is going to be an opportunity, but you got to get up to speed as fast as possible. You know, I think my next boot camp is in January, you can still come for $100. If it’s over 100, just DM me. I’ll let you come for $97. But learn. Pick a vehicle. Pick a vehicle right now. If it’s going to be multifamily, for God’s sake, come to my boot camp. I don’t sell anything there. Come spend two days with me and learn that business. But whatever it is, learn it now because if we’re in the thick of it, it’s going to be too late. You need to get up to speed. You need to build the relationships, like Adam just said, with brokers, with potential investors, and learn how to underwrite and all that stuff. And that’s going to take some time, so don’t freaking wait. Anyway, Adam, I appreciate you being on the show, brother. It’s great to see you.

Adam
For sure. I have one question for you, Rod.

Rod
Yeah.

Adam
When you say the biggest transfer of wealth, I’ve heard you say that a few times and I think it’s an interesting idea. Where do you think the transfer is going from?

Rod
Well, I think there’s going to be a lot of deals that go south and people can capitalize on those deals. I just had a deal in San Antonio we were looking at and the guy had bridged debt that was coming due within the year and his reserve payments to the lender went from 8,000 a month to 80,000 a month. Okay. I mean, that’s debilitating. I’ve got, you know, other people that have adjustable rate debt that are getting killed because– I mean, listen, when you got a multimillion-dollar asset, your interest rate goes up 1%, it’s a big deal, let alone maybe you’ve got a rate cap of 2%. 2% is a huge deal. And so, you know, these people, there’s a lot of people that are struggling and again, you know, there’s going to be an opportunity to pick up stuff at cents on the dollar. I really believe that. And so, you know, that’s what I’m talking about, that’s the transfer from someone that you know, had a deal that was too skinny, was too aggressive, you know. Talk about previously about bridge debt being very dangerous and it was probably the most widely used debt vehicle this last year. And it’s very onerous debt, you know. It’s a short-term, adjustable rate. You don’t meet your business plan, they can default you. I mean, it’s scary debt, and a lot of people with it. So I think it, you know, may not be as bad as I think it’s going to be, but there’s still going to be some pain and there’s going to be some opportunity with that pain. So that’s what I was talking about. Anyway, it’s good to see you brother. Mark, good to see you, buddy.

Mark
Yeah. Thanks, Adam.

Rod
Take care, guys.

Adam
Yeah, thank you for the opportunity.

Rod
You bet. See you soon.

Outro
Rod, I know a lot of our listeners are wanting to take their multifamily investing business to the next level. Now, I know you’ve been hard at work helping our Warrior students do just that using our “ACT” methodology which is Awareness, Close, and transform. Can you explain to the listeners how they can get our help?

Rod
You bet. Guys, we’ve been going non-stop for three years building an amazing community of like-minded people, and our coaching students which we call our Warriors have had extraordinary results. They’ve purchased thousands and thousands of units, and last year we did over 1,000 units with our students. And we’re looking to grow this group and take it to the next level. We’re looking for people who want to follow a proven framework that’s really step by step and then leverage our systems and network to raise equity, to find and close deals, and to build partnerships nationwide. Now, our Warrior community is finding success in any market cycle. So if you’re interested in finding out more about how you can become more of our incredible network and take advantage of the incredible opportunities that are coming very soon, apply to work with us at “MentorWithRod.com” or text the word “CRUSH” to “72345” and we’ll set up a call so you can check us out and we can check you out. Again, to apply, text “CRUSH” to “72345”.

 

Rod Khleif Book

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