If You Want To Start Multi-Family Investing, Listen To This Podcast

Full Transcript Below

00;00;00;06 – 00;00;15;22
Mark
Welcome back to multifamily Rock. This is a little bit of a unusual interview and the fact that rod isn’t doing the interview here I am. I’m obviously Mark, I run the massive action team for rod here. And rod is the one being interviewed today and.

00;00;15;22 – 00;00;17;00
Rod
All right, well, let’s have some fun.

00;00;17;07 – 00;00;33;20
Mark
Yeah. Well, you know, we always start with the story you’re asking them. I want to start. Same with you, rod. Why why did you create the warrior program? Why do you mentor people? You’re obviously financially well off. Why? Why do you still do this today? Yeah.

00;00;33;23 – 00;00;49;10
Rod
Well, it’s funny, you know, it’s. You want to make God laugh, you tell him your plans. Right? So I started my podcast because many of you know my story. I lost $50 million in 2009, and I just wanted to share my story, really, about the fact that, you know, it was my single family that caused me to crash and burn.

00;00;49;10 – 00;01;05;03
Rod
My multifamily did just fine through the crash. If I hadn’t cross collateralized my multifamily with packages of houses, I’d still own those apartment complexes. And so I want to get that message out there that if you’re going to buy and hold real estate, for God sakes, do multifamily, don’t do single family. You know, look at me as a poster child.

00;01;05;09 – 00;01;19;23
Rod
And for that and, you know, early on in the podcast, you know, and that was the main reason. But then the secondary reason is I knew I was going to get back into real estate, and I hate asking for money. And I thought, you know, what could be a great vehicle for me to talk about deals if I find one and raise equity for deals.

00;01;19;23 – 00;01;32;10
Rod
And so early on the podcast, I used to say, if you listen to early episodes, I say, I’ll never sell you anything. I just want to add value. And that was the truth. At the time. I’d really never planned to. And then, you know, I hit a million downloads. I’m like, all right, buddy, you probably ought to do something with this.

00;01;32;10 – 00;01;47;24
Rod
So I wrote, you know, I wrote my number one bestselling book, you know, how to create lifetime cash flow to multifamily properties. Because, you know, what I was doing was I was taking free phone calls from my listeners, and they were always asking me, you know, do you have a course? Do you have a book? Do you have something that I can move forward?

00;01;47;24 – 00;02;03;10
Rod
Because I would do these these free 30 minute phone calls and I had hundreds of them and I said, just call me. Let’s I mean, let’s have a call. I’ll help you in any way that I can. Doesn’t matter what the topic is. And and I really enjoyed them and, and, and they kept asking me for stuff.

00;02;03;10 – 00;02;18;09
Rod
And so I’m like, finally, you know, I wrote this book and I gave away 20,000 copies of the book. I still give this book away for free. You can go to Rod’s links.com and get it for free. You just pay the shipping. It’s like 6 or 7 bucks or something. But, you know, finally got to the point where I yeah, I really needed to do something and now I lie.

00;02;18;10 – 00;02;35;00
Rod
I’m a liar because I sell everything, you know, I’ve got courses, coaching and everything else. But I never planned to. That’s that’s the thing. I really just wanted to add value. And that’s still how we operate our company. We try to add absolutely as much value as we possibly can. And so I can humbly, humbly say it’s the best multifamily course out there, bar none.

00;02;35;00 – 00;02;57;21
Rod
Anybody wants to argue with me. I’d love to have that debate, but I it’s fantastic. It’s extraordinary. And at first I didn’t do coaching, but then I decided to go ahead and start doing some coaching, and it was just me. And then, you know, I brought in super successful, operator to do the coaching. And now, you know, pretty much most of our coaches are warriors, and our coaches are not like professional coaches.

00;02;57;21 – 00;03;17;10
Rod
They are they are people that own hundreds or thousands of units. And and, you know, many of them can only take one, 2 or 3 students. And we facilitate that. And, you know, it’s just turned into this incredible ecosystem. You know, I think right now our students own upwards of 170,000 units that we know of. We’re doing a count and we’re over 160,000.

00;03;17;11 – 00;03;34;18
Rod
I really think we’ll exceed 170. And, and so, you know, it’s very, very exciting. And, and, you know, people when they talk about the program, the biggest thing they talk about is the community. So, you know, and we can you can ask me some questions about that if you like, but.

00;03;34;20 – 00;03;48;08
Mark
yeah. No, it’s funny, you mentioned the free calls you used to do. Every once in a while, I’ll get somebody on the phone who says, oh, yeah, I did one of those free calls with rod six years ago, and I never did. No kidding. It’s no kidding. Every once in a while. Yeah, it’s no pressure. That’s awesome.

00;03;48;08 – 00;04;05;24
Mark
Now you’re obviously just under six years later. That many doors. Most of them that I see in the group obviously are done between warriors. I think there’s just a trust level there. But why do you think so many warriors do work together on deals instead of going out of the network now?

00;04;05;24 – 00;04;29;06
Rod
Good question. Actually, you know, you’ll you’ve heard me say it. If you listen to this podcast at all, you’ve heard me say, this is a team sport. It’s absolutely a team sport. Yeah. This is not something you do on your own. You don’t buy one, two, three, ten, 20, 30, $40 million properties on your own. For the most part, it’s done with other people, with partners and you know, that community breeds that that that interaction.

00;04;29;09 – 00;04;52;21
Rod
We in fact, you know, it’s interesting we discovered, I don’t know, three and a half, four years ago that are most successful warriors by far, are the ones that are the most connected in the warrior community. So we started doing things to help facilitate those connections. You know, we have, you know, when you when you join, you’ll get a list of all the warriors in the state that you live in, and then you can connect with them in our closed Facebook group and, and have lunch and dinner.

00;04;52;21 – 00;05;18;06
Rod
And people post all the time when they meet each other online. It’s just an incredibly supportive environment in that regard. and then, you know, we also, you know, have breakouts after our Q&A calls every other week where where you can speed dating, randomly meet warriors. And then, you know, we have our warrior only events. And that is all stuff we did over the years that we added as we started seeing that, that this was really helping, you know, because these connections inside the community are just absolutely freaking critical.

00;05;18;06 – 00;05;37;23
Rod
And so, you know, we have our warrior only events. We’ve got one coming up in November and Phoenix, up to this point, I was doing them all in Sarasota because I’m like, I buy you fly. But I’ve decided to do some for the West Coast. Peace. So we’re doing one in Phoenix in November. You’re welcome. Yeah. And, and so and of course, you know, our coaching students are able to come to our events for free.

00;05;37;23 – 00;05;53;15
Rod
The boot camps. We’ve got our big boot camp coming up in September. Should be about a thousand people there. And there’ll be several hundred warriors there as well. And so, you know, again, we do everything to facilitate those connections because we’ve discovered that it really is about what you I’m necessary. It’s really is about who you know, not what you know.

00;05;53;15 – 00;06;19;11
Rod
In this business. It’s you know, yes, the course is important, the training is important, the boot camps important. But what’s more important is who you know, the connections you make. Because, you know, most people get into this business by aligning with someone that’s already done it and, you know, called a sponsor. You know, that’s the technical term for somebody that’s got some doors that maybe has some experience, that it possibly has, you know, the net worth and liquidity requirements that that a person needs to buy a property.

00;06;19;11 – 00;06;28;17
Rod
And of course, we’ve got dozens and dozens and dozens of those in our warrior community. So it makes it so much easier for somebody to get started, you know, to connect with a group.

00;06;28;19 – 00;06;48;28
Mark
So this is a perfect segue because another maybe top five question I get all the time because most warriors, maybe one or outside of 1 or 2%, almost all the warriors that join have not done any multifamily experience. The question I get is, okay, I’m coming into this group, potentially all these people have all this experience, etc..

00;06;49;01 – 00;06;56;07
Mark
how do I add value to team up with these people and do my first deal? Why would these people want to work with me? What do you see. Yeah.

00;06;56;09 – 00;07;11;20
Rod
Yeah. No, that’s a that’s actually a great question. And we get it a lot like you said. And really I would say the top two ways to get enamored by a team is to either bring a deal or to bring money to raise money and bring money. Those are the top two for sure. But there are other things you can do as well.

00;07;11;20 – 00;07;28;21
Rod
If you are super analytical and you’re great at underwriting, that is a huge plus for a team. And of course our students all we all get our incredible underwriting, platform, our our spreadsheet that we use to, to underwrite deals is this extraordinary. One of my team, one of my team members on my personal acquisition team built it, Craig.

00;07;28;21 – 00;07;50;02
Rod
And he’s phenomenal. But, you know, so if you underwrite deals, you can, you know, that’s that’s a value add as well. And I’ve got super introverted warriors that are very successful that, you know, we’re very, very tentative and introverted but great at underwriting. They now have literally thousands of units because they they connected with other people and added value and boom, they’re off to the races.

00;07;50;07 – 00;08;08;16
Rod
And then, you know, there’s also the asset management piece. It’s the project management maybe construction experience project management experience management experience in general because, you know, you buy these assets and that you don’t like, throw your hands up and say, my work here is done. You’re going to manage that thing. You’re going to manage the property management companies for several years.

00;08;08;16 – 00;08;20;21
Rod
And that’s a big piece. And so if you’ve got some experience there, you can bring that to a team. So there’s lots of different hats that a person can wear. of course the number one is bringing money and bring deals. But you know, we teach you how to do all of that.

00;08;20;21 – 00;08;43;17
Mark
So now that’s the technical side. Obviously there is a personality and mindset side to this, which is super, super important. My $0.02. I think that’s a big part of why people work with each other in the group as well, because they’re very like minded. Well, how would you describe the culture of the group, the community? Well, you know, what’s the mindset and how do you protect that at this point?

00;08;43;19 – 00;09;06;02
Rod
Well, if you ever go to my website and go to the Warrior Win page, you will see tons of testimonials and interviews that we’ve had here on Rock stars episodes. And everybody raves about the community. And honestly, part of my job now is not just to, you know, bring more warriors in, surely, but it’s really to protect what we’ve got.

00;09;06;05 – 00;09;27;23
Rod
And and, you know, we don’t allow any big egos in there because it’s become such a supportive environment. I mean, it’s extraordinary. Candidly, if you, you know, when somebody posts a deal that they’ve closed on, which is almost daily now, everybody jumps in and they get tons of, you know, congratulations. If somebody needs help with something, they post a question and there’s within minutes there’s people responding.

00;09;27;23 – 00;09;47;03
Rod
I mean, it’s just a you know, it’s like that analogy a rising tide lifts all ships, okay. And that’s really what it is. And everybody is elevated inside the group because it’s so supportive and helpful. And and I’ll tell you, the culture is very giving. I literally about a week ago, which I’m about to post in the warrior group myself because he would never do it.

00;09;47;03 – 00;10;03;27
Rod
But we’ve got a, a gentleman in the group that’s very successful, and he has been building schools in India. And so I remember at our Denver boot camp, we did what’s called a Hall of Fame for our warriors, and we just picked ten exemplary warriors. And it wasn’t based on how many doors they had. It was just based on a lot of things like, you know, do they help other people in the group?

00;10;04;03 – 00;10;25;10
Rod
Certainly some success with, with with how many units they have. And we picked ten. And you know, we did we we did a PowerPoint for each one of them. We just asked them some questions and we discovered that every single one of them does something charitable, you know, like building schools in India, like, you know, sexual trafficking, raising funds for that, veterans homelessness, veterans suicide.

00;10;25;13 – 00;10;58;25
Rod
Just some really important causes. And every one of them did something. And it was just extraordinary to see that. I remember pointing that out to the 900,000 people that I’m like, hey, that’s what we call a clue, guys. And that’s really the environment we’ve created is people helping each other succeed. You know, it’s so important that you are in a group of people that aren’t going to negate your dreams and, and, or, you know, make fun of you or try to hold you back out of their own fear, or their own limiting beliefs and so you need to be in a group if you’re not going to join the words, that’s fine, but you

00;10;58;25 – 00;11;16;27
Rod
need to be in a group of people that will support you, praise you, validate you, push you, hold you accountable. And that’s what this group is. because, you know, there’s so many naysayers out there that that will out of their fear, like I said, they’ll they’ll destroy your dreams if you allow them. Your environment is so freakin important, you know?

00;11;16;27 – 00;11;32;09
Rod
And you know, a lot of people default to a group of people that they went to school with for their peers, the people they, you know, work with. And sometimes those aren’t the best people, and sometimes it’s family as well, you know? So you got to be really careful who you allow to influence you. And that’s what makes a group like this so extraordinary.

00;11;32;15 – 00;11;56;25
Rod
Now, this one is off the chain. Extraordinary. But you know, again, if, if, if, you know, you could absolutely do this on your own as well. You but you’ve got to get in a group like that where everybody’s pushing, rowing the same direction, they want the same thing, they’re going to be encouraged by your success rather than feel rejected or humiliated or embarrassed or, you know, you know, just negate it because of their own crap going on in their heads.

00;11;56;27 – 00;12;17;27
Mark
And by the way, that’s a part of the group. You know, I’ve, I’ve been a part of coaching programs and, and there are other real estate coaching programs out there. They’re all going to teach you multifamily. You say this all the time, right? There is no magical secret sauce to it. But part of what we do is that high performance coaching speak to that a little bit and sure, sure, sure, I forgot.

00;12;17;29 – 00;12;42;13
Rod
Yeah, I forgot to mention that. Well, you guys all know I’m into mindset and psychology. My god, I spent 20 years following Tony Robbins around the planet, worked with him for a while, and that’s that’s my whole shtick, because 80 to 90% of your success is mindset and psychology. So I became a certified high performance coach several years ago because I wanted to add that component to my coaching program, because it’s to me, it’s more important than the technical knowledge, frankly.

00;12;42;19 – 00;13;00;03
Rod
Okay. And in that high performance part, we go through things like your courage to take action because obviously there’s more zeros on these deals, your ability to influence people because that’s this business is a team sport. You got to influence. And even things like your productivity, your ability to systemize this and actually turn it into a business so you’re not killing yourself.

00;13;00;03 – 00;13;18;12
Rod
And but even soft skills like your relationships with your children, with your spouse, you know, your mission and purpose in life, stuff that’s bigger than the real estate, but also foundational to the real estate because affects everything. And so we have these high performance, you know, I’ve got a high certified, high performance coach that’s a frickin rock star that helps me with this.

00;13;18;12 – 00;13;53;12
Rod
But we have our high performance coaching calls and and they’re awesome. People rave about them. And so every month there’s those in addition to, of course, all the other real estate, you know, the multitude of real estate coaching calls that we have. But but that’s a big piece of, of, I believe why our students are so freaking successful is because we push the, you know, that that content that’s so absolutely critical to success, that looking in the mirror, you know, focusing on becoming, in my case, a better father, a better husband, a better entrepreneur, a better business, you know, better business person, but really, frankly, a better human being.

00;13;53;16 – 00;13;58;04
Rod
And so that’s the stuff we do there. And I think it’s just incredibly powerful.

00;13;58;06 – 00;14;14;00
Mark
Now to get into the details a little bit more, there are some people I know, I’ve I’ve been this person before that I know you always talk about text crush seven, two, three, 4 or 5. You’re interested in applying for the warrior program. Maybe that’s in the back of someone’s mind, right? But they’re a little nervous. They’re a little scared.

00;14;14;00 – 00;14;26;14
Mark
They’re not quite ready to take that step because, you know, they’re a little bit more information gatherers. What what are some of the other, I guess, pieces of the warrior group that you can kind of give away. Just some little gold nuggets. Sure, sure.

00;14;26;17 – 00;14;45;22
Rod
Sure sure, sure. Well, I’ll I’ll tell you. There’s there’s of course it’s it’s a lot. But let me, let me simplify it. We partner you with a coach and we don’t have professional coaches like everybody else does. Our coaches are operators. There are people that have done, in the most case, more than a thousand units, in some cases six, 700 units.

00;14;45;22 – 00;15;03;16
Rod
But they’re all frickin rock stars. And they can all only take, you know, maybe 1 to 4 students apiece because they’re just doing this because they want to give back, okay? And that’s really the bottom line. And they’re extraordinary. We have about 3030 coaches or so. And and so you know, you’re paired with a coach an awesome coach.

00;15;03;20 – 00;15;19;19
Rod
Of course there are a lot of other coaching calls as well. Group calls and things like that. I won’t get in too much detail there. It’s just, you know, but there’s a ton I mean, more than you can handle. Okay. And then, you know, you get put into our entire and of course, the high performance calls, like we just said, those coaching calls and those are, those are very intimate.

00;15;19;19 – 00;15;40;27
Rod
Those and then, you know, you get put into our entire community, you get access to, you know, literally over a thousand people around the country where people in literally every city in the country or so, that group is just incredible. We’ve talked about that. It’s just extraordinary, the group itself. But then you get all the tools and tons of tools and resources, everything you can, possibly more than you can imagine.

00;15;40;27 – 00;15;54;29
Rod
Let me just put it that way. You get all of that and of course you get a complete action plan. So you know what to do. Step one, step two, step three. And and, you know, it’s just extraordinary. The program itself is extraordinary, which is why the results are so extraordinary. And, you know, I’m just something I’m.

00;15;54;29 – 00;16;06;00
Rod
I will tell you. I’m so freakin proud of it. I have to tell you, besides my kids and my wife, I don’t think I’m more proud of anything, which is, you know, what we’ve accomplished with this warrior program and continue to accomplish so.

00;16;06;00 – 00;16;26;06
Mark
And before this call, you mentioned a couple of things that have like, really, really changed people’s lives specifically. Obviously, there are lots of people retiring, quitting high paying jobs. But you touched on a couple of things. Could you share a couple? Sure. Share stories so people can connect the dots here of how how real estate actually gets them to their goals?

00;16;26;08 – 00;16;44;19
Rod
Well, like you said, we’ve got we’ve got lots of ways. We’ve got students that have retired very high paying jobs, thousands of units. And I could sure brag about those, but I’d rather talk about the people that didn’t come with much. in fact, I love talking about the single mom. Okay, because my mom was a single mom, effectively, and for a long time.

00;16;44;19 – 00;17;03;17
Rod
And single moms that have literally now, you know, over a thousand units, they’re they’ve retired from jobs. And I’m super. I mean, I can think of 4 or 5 off the top of my head that that is something I’m super proud of because, you know, they they have it much harder than somebody that’s got support, got other income coming in, don’t have kids to deal with.

00;17;03;17 – 00;17;20;15
Rod
And you know, I mean, I’m thinking, Mandy, I’m thinking Esther. I’m thinking, you know, Alice, I mean, I’m just thinking of all these, these women that are single moms that are just freaking killing it. And I’m just that’s something I’m super proud of. And and the fact that we’re able to create, I mean, we’ve got a Women’s Warriors group.

00;17;20;15 – 00;17;29;09
Rod
We’ve got all these little. That’s another thing that’s kind of cool inside the group. We’ve got all these little groups, like a women’s group, we’ve got underwriting groups, accountability groups, masterminds, money.

00;17;29;09 – 00;17;30;05
Mark
Raising groups.

00;17;30;13 – 00;17;54;15
Rod
Money making it raising groups. We got meetups all over the country. Warriors having meetups literally all over the country. Somebody just posted today in Baltimore. So so, you know, it’s it’s it that that part is, is I think the most exciting is just the, the group dynamic and, and all of the, with a ripple effect, you know, the, the ripple effect that’s happening inside the group is just extraordinary.

00;17;54;17 – 00;18;11;13
Mark
And I’d say that to working with so many students, talking with so many of them, that’s one of the most common things I hear is the students in the success stories. They’re just regular people with jobs, a lot of them with kids. It’s not multi, multi-million and heirs. I mean, don’t get me wrong, there are some of those in the group as well.

00;18;11;13 – 00;18;12;24
Mark
But the average, every.

00;18;12;29 – 00;18;34;29
Rod
Every one of us and almost every one of them did it on the side. Literally almost every single one of them high, you know, very, involved W-2 jobs, consuming jobs, spouses, kids. And they still just achieved extraordinary success on the side doing this on the side. So, you know, if you’re thinking you can’t do it, that’s an excuse.

00;18;34;29 – 00;18;36;29
Rod
I love you, but that’s an excuse.

00;18;37;02 – 00;18;45;08
Mark
Yeah. Last thing for you here. How do you measure that success when you’re working with a warrior. What are some of the key indicators you look at?

00;18;45;11 – 00;19;05;01
Rod
That’s a great question actually. And because every warrior is different, I’ll tell you, I think the greatest barometer of success for me is when somebody gets their first deal. Because, you know, there’s that law of the first deal. It’s the scariest, it’s the most stressful. It takes the longest. And then, you know, what I see is once they get one is like, the next thing I know they have two, three, four.

00;19;05;04 – 00;19;20;07
Rod
It’s like, what the heck just happened here? And and I love it because, you know, when they get their first deal, they become a warrior, what we call a warrior of the sword. And they get this cool real sword in the mail. It says warrior on. It’s really very, very cool. And, and I think that’s my biggest measure of success because we’ve got so many.

00;19;20;07 – 00;19;37;10
Rod
I mean, we’ve sent out so many of those dang swords that you can’t even imagine. And so, you know, I am going to measure it that way because, I mean, yes, I mean, certainly the count, and globally and all the, all the, you know, units that Warriors have bought is extraordinary. I mean, just mind blowing, frankly.

00;19;37;10 – 00;19;59;12
Rod
But I think on an individual basis to get that first deal, I know they’re off to the races because then then they realize that, you know, it’s really not as scary as they thought it was, that it’s absolutely doable, that the mist goes away, the intimidation goes away. It’s really to me, that’s a big measure, because that’s the biggest hurdle is to get them into their first deal, because after that I know they’re off to the races.

00;19;59;14 – 00;20;24;12
Mark
Couldn’t agree more. And right. And and they end up stacking up so many more. Well I want to end this just real quick. Obviously you mentioned this so often. You know, people that genuinely connect with all these things that you’re saying. You can text the word crash to seven, two, three, 4 or 5 and and so genuinely, if you reach out to us and, you know, the coaching, mentoring, it’s really not the right thing, my team will leave you in a better spot.

00;20;24;12 – 00;20;39;27
Mark
They’ll help you get clear on some real estate items. They will send you off completely on your way to go. Do this on your own and genuinely, you don’t even have to explore anything. You’re not going to be sold if it’s something you genuinely don’t want. and so it’s something we genuinely have the process set up to do.

00;20;40;02 – 00;20;56;02
Rod
No, no, not we’re not salesy in our process. That’s that’s the bottom line. And I will say we have turned some people down. If I get if I hear ego or narcissism, they’re out. But it’s very it’s not common. Okay. I’m just going to say that, so that’s the biggest thing that I’m doing is, is protecting the group.

00;20;56;09 – 00;21;15;23
Rod
yeah. So again text crush if you’re interested to 72345. It’s extraordinary. It truly is extraordinary. People rave about it and, you know, I hope you’ll check it out. I know the thing I want to mention is every single one of my warriors has my cell number. I talk to warriors every single day. I’m very accessible. I take this very, very seriously.

00;21;15;23 – 00;21;33;01
Rod
I take my Warriors success very seriously. And I only have one phone. Okay, it’s got two numbers on it because I had to get a second number with Hurricane Ian because I didn’t have any single hair, but I only have one phone and every warrior has my number. So, you know, it’s not like some guru thing where I’m up on some white, you know, throne somewhere.

00;21;33;01 – 00;21;40;23
Rod
This is I take this very seriously and, I take the success and and honestly, the protection of my warriors very, very seriously.