Morgan Ehrenzeller is a dynamic entrepreneur known for his remarkable journey from a small-town upbringing to building a thriving business and real estate portfolio. Growing up in a town of just 700 people, Morgan made a promise at 13 to create a better life for his family. By 14, he launched a software company that was generating $1,000 a day in sales by the time he was 16. At 17, he took his first step into real estate by purchasing a duplex, and now, at 27, he privately owns 198 rental units without relying on syndications or funds. Morgan’s story highlights his grit, vision, and ability to take calculated risks, making him a compelling voice on entrepreneurship and real estate investing. His insights offer both inspiration and practical advice, making him a perfect guest for this episode focused on building wealth through innovation and smart investments. Beyond his business achievements, Morgan’s journey is a powerful reminder of what determination and focus can accomplish.
Here’s some of the topics we covered:
- From Teenage Hustler to Real Estate Mogul
- How He Started Earning $1,000 a Day as a Teenager
- The Ultimate Shortcut to Financial Independence
- Mastering Networking Secrets to Crushing It in Any Market
- The Power of Seller Bonding to Unlock Deals Others Can’t Touch
- Unfiltered Beginning Investor Advice
- Morgan’s Fiery Real Estate Horror Story
- The Best Parts of Real Estate You Can’t Learn From a Book
- How to Tune Out the Noise and Make Bold Moves in Real Estate
- The One Core Value Every Investor Needs to Win Big
To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com
Full Transcript Below
Full Podcast Transcript: Ep #1064 – Morgan Ehrenzeller on Real Estate Investing
Introduction and Background
Riyad Khleif: Welcome to another edition of Lifetime Cash Flow to Real Estate Investing. I’m Riyad Khleif, and I am thrilled that you’re here. And I know you’re going to enjoy the interview I’m doing today. The gentleman’s name is Morgan Aaron Zeller, and Morgan has a very unique story. Very young. And he’s already accomplished a hell of a lot.
Riyad Khleif: So we’re going to have a lot of fun today. Welcome, brother.
Morgan Ehrenzeller: Hey, thanks for having me, Riyad.
Riyad Khleif: Absolutely. So why don’t you give us a rundown of who you are, where you came from, and then bring us cards, and we’ll go from there.
Early Entrepreneurial Journey & Real Estate Beginnings
Morgan Ehrenzeller: Yeah. So I’m Morgan Aaron Zeller, quick and dirty about me: where I came from – a small hometown of about 800 people in Pennsylvania, central PA. My entrepreneurial journey kind of started when I was 14. I started a software company. Ran through it that me and my partners – we were making a bunch of money at the time, but we weren’t an adult.
Morgan Ehrenzeller: So all of our third party financial processors like PayPal, for example, you had to be an adult to take payments. So since we weren’t actually 18, they kept limiting our accounts. So at that point, as a young entrepreneur for about 15-16, we’re probably pulling in probably $1,000 a day at this point. I’m in software sales. So like, how do we pivot?
Morgan Ehrenzeller: You know, we’re not adults. We can’t take money legally. So then I came across cryptocurrency and bitcoin. So then we moved all the SaaS profits from, you know, everything – rerouting it from PayPal and money orders and all that stuff to bitcoin, and Bitcoin was about $30 at the time. Well, so did that, made a boatload of money there, kind of one kind of an accident as well, right?
Morgan Ehrenzeller: Obviously.
Riyad Khleif: What was it, about 30,000 from 30 to 30,000?
Morgan Ehrenzeller: That’s like 100, 4000.
Riyad Khleif: Oh, no. Shit. God, I don’t pay attention to it anymore, you know? But…
Morgan Ehrenzeller: Yeah, yeah. So we made a lot of money there. And then I bought my first duplex when I was 17 on seller finance with NPR. Yup. Okay. Mike ran down. Seller finance. Nice. Went to college – Bloomsburg University. Graduated college in 2020. Last semester of college, I went to a foreclosure auction, bought a house for ten K, 117K, put sweat equity into it, and then after I got it, refinanced it; it was worth 126. And at that point I was 21, 22, and I was like, shit, I just picked up 100K in 3 or 4 weeks, and then it clicked with me.
Riyad Khleif: Real estate could be something here. Yeah, yeah, yeah.
Morgan Ehrenzeller: That I collect and is like where I’m at in my life, 22 years old. I don’t come from money. I, you know, don’t come from a pristine university. I’m not a Yale or a Harvard graduate or, you know, don’t come from investment banking – no other job or industry is going to do that for me at this point in my life.
Morgan Ehrenzeller: So that was the really first nice check.
Riyad Khleif: And then an epiphany as well.
Morgan Ehrenzeller: Yeah. And then I started, I ran with it.
Riyad Khleif: Yeah. So, so why didn’t you have your parents help you?
Morgan Ehrenzeller: My parents don’t have money. I didn’t have a rich young… Oh, so you couldn’t?
Riyad Khleif: You couldn’t use them for the PayPal thing or anything. You just didn’t want to or what?
Morgan Ehrenzeller: Well, they’re very risk adverse. So, like, my dad—he doesn’t want any of his stuff online. Like, even if we go to buy something online, he’s so hesitant to give, like, his credit card or debit.
Networking, Deal Sourcing, and Seller Relationships
Riyad Khleif: Got it. And I know the personality type. Okay. I was just curious because that’s what I would have done. I said, hey, you know, let me put the PayPal in your name and, you know, move on. Let me ask you this. Did you have any mentors back then? How did you learn how to do a flip and all that?
Morgan Ehrenzeller: No, I didn’t have mentors, but my dad was a third generation carpenter. Okay, so ever since I was young, he had me holding the flashlight. So I remember I was probably nine years old. I was redoing a roof with him up in New York. I actually fell off a roof when I was about nine doing a roof with him.
Morgan Ehrenzeller: So he had me working with him at a very young age. And in hindsight, with what I do now it is extremely valuable. Yeah. Because when you start at the bottom and you know construction from the inside out, nobody can bullshit you.
Riyad Khleif: So, yeah, that’s huge. Yeah. I know with my warrior coaching students, when I find out they come from a construction background, I’m like, man, you’ve got a leg up because you know you’re not going to get screwed by a vendor and you’re going to know how to price things out. You’re going to know if somebody is playing around with you.
Riyad Khleif: And there’s a lot of that in that arena. So, no, that’s fantastic framework for this. And so now you’re at 439 doors, and a lot of those you own privately. Correct. And you’re in how many states?
Morgan Ehrenzeller: And nine states.
Riyad Khleif: Nine states and, and the average size – you know, what is your target size asset right now?
Morgan Ehrenzeller: I’ve been doing a lot of creative finance. So most people, you know, are obviously familiar with traditional. So I’m really good at talking to sellers and to where? No money down. So right now, my bread and butter is 25 to 75 units. Yeah. So like, for example, just last week I got my dad and I, a 19-unit for $0 down cash.
Morgan Ehrenzeller: Long day one. We also got a restaurant with it for 25K down. Well, just recently I got – last three weeks ago, I closed on a 46-unit for 20K down with sellers holding a $1.1 million note at 0% interest. Where, where… what’s West Liberty, West Virginia? Oh, okay. Okay. Just like an hour.
Riyad Khleif: So how are you finding all these deals all over the place? What do you – where do you hunt?
Morgan Ehrenzeller: It’s a lot of setting up inbound funnels. So like, most people you know are familiar with the driving for dollars, looking on Zillow, Realtor – that’s an outbound approach, right? I don’t like doing outbound marketing, so I like inbound. So I set up funnels and, you know, subscribe to wholesalers, buyers list, things like that. So every morning I wake up, my email is flooded with deals.
Morgan Ehrenzeller: So then I have my VA go through, you know, filter these out, teach them, you know, some basic underwriting. If it’s a certain criteria, send it to me. And then I dig into it.
Riyad Khleif: So, so you email wholesalers, flippers. You bought these lists. You email them, say, ‘send me your deals.’
Morgan Ehrenzeller: I don’t buy the list. It’s all organic. I don’t spend a dollar.
Riyad Khleif: How did you get the list?
Morgan Ehrenzeller: It’s just a matter of a lot of networking. Okay. And them adding you to their buyers list. So like when they get something – they go and they mass.
Riyad Khleif: So how did you find, how did you find these wholesalers in seven different states? I mean, how did you do that? I’d like to get into some more detail here.
Morgan Ehrenzeller: Yeah. So that’s all the wholesalers. They’re doing all the legwork here.
Riyad Khleif: No, I got that. But how did you find them? That’s my question. How did you find these wholesalers in other states?
Morgan Ehrenzeller: So it’s just a lot of networking, honestly – a lot of networking and a lot of one-on-one.
Riyad Khleif: So where did your network – did you go to meetups in these states or what did you do?
Morgan Ehrenzeller: Facebook groups, masterminds, events, webinars, seminars.
Riyad Khleif: And you’re just good at capturing people’s information and putting it into a database and putting them on an email list.
Morgan Ehrenzeller: But they did that for me.
Riyad Khleif: Oh, they do it for you. Oh, gotcha.
Morgan Ehrenzeller: Because they’re sending me the deals. I’m not sending them that because…
Riyad Khleif: You’re the buyer. Yeah. Because I have people in my Facebook group sometimes throw, “Hey, if you’re looking for a deal…” They tease this phenomenal deal to get the information. Okay. All right. So, and I love the framework. So you have your email full every day. Your VA checks that, does a screening process, sends you the ones that are worth doing.
Riyad Khleif: And you’re good at talking to sellers. And this is something I teach in my bootcamp, by the way. So it’s great that we’re having this conversation so people hear it from someone other than me. Do you find, do you deal with a lot of elderly sellers?
Morgan Ehrenzeller: I do.
Riyad Khleif: Yeah. And do you, let me ask you this question: Do you focus on the relationship first before you get into the property? Do you bond with them first?
Morgan Ehrenzeller: Absolutely. I know the rapport. Yeah.
Expanding Investment Approaches & Financing Strategies
Riyad Khleif: That’s so important – seller bonding is so critical. I’ve done deals – nothing, done deals. I’ve done deals where I’ve not made a payment for a year because the property needed so much work. But if you build that relationship and you build that trust, then you know you can create win-win situations, not to take advantage of them, but to really create win-win situations.
Riyad Khleif: Right? Yeah. And, and most, you know, correct me if I’m wrong on this – most retirees, you know, they’re not going to take that money they made from that investment they’ve had for 20 years and throw it into another high-risk investment. It’s going to go in the bank. And what’s the bank paying in interest? So if you can communicate to them, plus they’re going to get killed in taxes.
Riyad Khleif: And so, you know, if you tell them, “Hey, if you work with me I’ll pay you monthly, you’re not going to get a big tax hit. You’re going to pay tax on what you get that year, and your payment from me is going to be a lot more than what you’re going to get from a bank,” because you can work with the interest rate or the payments… You agree with all that framework?
Morgan Ehrenzeller: You hit the nail right on the head. Yeah. And then, to piggyback on that, like the older ones…I just had one where I was walking them through the tax situation – like, “Hey, what do you really want here?” They’re like, “Right.”
Riyad Khleif: You got to find out what their outcome is, right?
Morgan Ehrenzeller: It’s sales 101 – that’s all it is. Find the pain and tie the value to it. And they wanted their kids to remember all the hard work that they did. So, you know, I walk them through the tax implication, like, you know, you’re going to get under the barrel here. What taxes? Right. And I said, “What do you think your kids are going to remember? Every single time they get a monthly check from me, right? They’re going to remember, you know, every time they get…”
Riyad Khleif: Oh, nice. Oh, nice. It’s not a one-time hit. They’re going to think about you every single month. Oh, that’s beautiful, brother. I love that one. Oh, that’s a good one, guys. Write that one down. That’s a good one. Okay, love.
Riyad Khleif: So we’re going to take a quick break from this incredible episode for word from our sponsor – my incredible freaking warrior program.
Riyad Khleif: Are you thriving or just surviving? If you’re just surviving and you need to escape the rat race and propel your life forward, you have to take action. You actually have to do something right now. If you haven’t heard, I’ve got this amazing mentorship program. My students are called My Warriors, and at last count, they own somewhere between 190 and 200,000 units that we know of.
Riyad Khleif: It’s an extraordinary group of people that are just flat out crushing it in multifamily. If you’d like to apply to our amazing warrior program, text the word CRUSH to 72345 and we’ll set up a call. You can look us over, we’ll look you over. And I can promise you, even if you don’t join the program and it’s not a fit, you’re going to leave that call better than when you got on it.
Riyad Khleif: So again, text the word CRUSH to 7-2-3-4-5 and you and I will speak soon. All right, let’s get back to it. But, and it’s really – it’s all about asking the right questions, you know, why are you selling? What have you tried to do that didn’t work? Why do you think the property hasn’t sold? Because they’ll tell you what’s wrong. That’s the seller. Financing is fantastic. And, you know what? Wait, wait… Capitalize on it. And I know you’ve done a little bit of syndication – you said as well, right? You’re just getting going in that… What’s next? Are you planning to do more? Are you going to continue doing what you’re doing here? I would guess, because that seems to be working well.
Morgan Ehrenzeller: So I, you know, the syndications and the funds – I, I do that, but I think everyone, you know, paints a big, sexy picture on it. Like a lot of these low-to-no money deals – some are down like 20K down, I know another 46-unit for 120K down. I can find capital very, very easily. And that, 14 or 20K down.
Morgan Ehrenzeller: You mentioned about no payments for a year, right? That’s actually what I got on that one. No payments for 18 months at 0%. Wow. So I can find capital very, very easily to keep things private and not, you know, selling it as a security.
Riyad Khleif: Just do a joint venture, in other words. Right. By the way, guys, a joint venture is when both people are active to some extent, okay? You can’t take money from someone unless they’ve got… So, you know, maybe your partners have some decision-making capabilities. Like you can’t spend more than a certain amount of money. You’re nodding, yes?
Riyad Khleif: Yep. Okay, okay. That’s how I worked mine. If you take money from someone and just offer them a return, you have to syndicate. Otherwise you’re in violation of the SEC. But, yeah.
Morgan Ehrenzeller: So, yeah, a lot of these investors – they want to learn, so, like, they’re flying out to the properties with…
Riyad Khleif: Me doing the due diligence with you.
Morgan Ehrenzeller: Got it – up there on the asset management calls every week – because at the end of the day, one, they want to know about their investment, what’s going on with it; and two, they want to learn. Right.
Overcoming Challenges, Setbacks, and Lessons Learned
Riyad Khleif: Yeah. And I would just tell you I’d encourage them to communicate their thoughts on those calls. I’d record the calls just to play it safe, or take notes on the calls – have a note taker where they’re actually actively involved because they have to be actively involved. That’s the key piece here. But it sounds like, you know, if they fly out to the property, they’re active.
Riyad Khleif: But again, if they’re on the calls, I’d recommend that to you. So, what suggestions would you have, Morgan, for, you know, I have a lot of listeners that haven’t taken action yet. They know they want to do this, you know, and they’re just sitting on the sidelines – maybe fear, maybe the limiting beliefs holding them back; maybe they’re comfortable, but you know, they know they don’t want to be in the same place they are right now 1 or 2 years from now. What would you say to them?
Morgan Ehrenzeller: I would say everyone. Everyone does that. And every big leader, you know, they’ve all experienced the fear. And at the end of the day, when they first started, they didn’t know what the hell they were doing either, but they did it anyway. And I think, you know, if you really can’t get over that, the triumph – how you get confidence is by doing things. Just like, you know, you go to the gym, you do reps, you build the muscle. So if you’re still – you can’t get over that fear – what I would recommend is find that person who’s doing what you want to do or is living your lifestyle and go work for free for them. Yeah. Now you’re going to build the muscle. And, you know, six months or a year, you already know the next step.
Morgan Ehrenzeller: I see a lot of people – they think they need to know the whole staircase. But you don’t need to know the whole staircase. You just need to know the next step ahead of you, or know someone who knows what the next step is for you.
Riyad Khleif: Yeah, or get in a group of people that are doing it. You know, I will tell you, you know, go to your local meetup groups – you’re going to meet these wholesalers; you’re going to meet flippers. You’re going to meet people that are so experienced, and they just want to help. And there are a lot of people at these meetups – they’re older, and they’re just happy to put their arm around you and help you with stuff. And, of course, you know, things like my warrior program – my students now, I think, are around 250,000 units. We’re doing a count again – super something I’m super proud of – and they’re all done among warriors. So you want to be around people that are doing this business. You know, a rising tide lifts all ships. So, you know, you want to get in that kind of a group.
Leadership, Team Building, and Personal Success
Riyad Khleif: So what do you think is your biggest personal success – your greatest personal success, be it personal or professional?
Morgan Ehrenzeller: Personal and professional success so far for me personally – I didn’t come from a lot, and what I’m trying to do is break my parents free and everyone in my family free out of the rat race. I’m the only entrepreneur in my family. And 14 months ago, I finally got my dad to start investing with me and got him off the sidelines and into real estate.
Morgan Ehrenzeller: Just like when I first started in real estate, he was the first one that told me I was going to fail. Yeah, so that lit a burning fire inside of me in my young 20s to prove him wrong. Good. So having him, you know, see everything I’ve built; and so he watched it and saw it all happen.
Morgan Ehrenzeller: I was finally able to get him off the sidelines and, in 14 months, we started with $10,000 each. I told him, “You know, I’ll match everything – let’s match it 1 to 1.” I started with $10,000, and since that, we scaled from $10,000 to 1232 units.
Riyad Khleif: No kidding.
Morgan Ehrenzeller: Yeah. And this is probably me – if I want to retire here in June.
Riyad Khleif: No kidding.
Morgan Ehrenzeller: Effort. That’s… you know, in a year and a half I was able to do more for him than his job did in 20 years.
Riyad Khleif: It’s so rewarding. You know, my parents were too old to actually start investing, but, you know, I took my dad on cruises, bought him a car out here in Florida. And there’s nothing more rewarding than that. So let me ask you this – you know, everybody thinks it’s just all roses and glory. They see the duck floating on the top but don’t know that the legs are furiously pedaling on the bottom. But talk about some of your setbacks. I call them seminars – I call our setbacks big setbacks. I call them seminars, you know, like when I lost 50,002,008. That was a big seminar.
Riyad Khleif: But that’s as we call them – because it’s only a failure if you don’t get back up or don’t get the lesson. But talk about maybe some setbacks you have, or a big one – and if you feel like there’s a learning opportunity, a teaching opportunity in it.
Morgan Ehrenzeller: Yeah, I’ll give you one. That literally just happened two days ago.
Riyad Khleif: Okay. Wow. And by the way, guys – he has a whole menu of them, as anybody that does this business does. Right? I mean, you could literally probably go through and list a hundred of things, but, okay, let’s hear it.
Morgan Ehrenzeller: Yeah. I had one two days ago. My partner and I have an 11-unit property. This partner – these boots on the ground, more green in the face – was an investor but also wanted to do the active role to learn. So, you know, we’ve had these 11 units since about September. Back in September, I asked him to go get some insurance quotes.
Morgan Ehrenzeller: He got some – I linked him to my insurance guy. We got the insurance cut chopped in half for my contact. So I said, “I’m not going to say his name, but partner, can you make sure this gets signed and tidied up that way? We have insurance, right?” When we got the building, he was like, “Yep, I’m on that. I’ll get that done today.” And then, two days ago, I got a call from the property manager that, “Yeah, hey, your apartment complex is on fire.” Meanwhile, we had just turned one of the units – I budgeted about 20K for it, we came in at 11K, so I was thrilled. Says last week, I was so excited: like, “Now we’re going to hit this out of the park. We’re under budget. Things are going good.” And then I get the call, the fire. I’m like, “Okay, shit. We’re turning the rest of these units. We may get a little catch, a little break. No one’s hurt.” Thank God that was the first.
Riyad Khleif: How many units? Just in one unit?
Morgan Ehrenzeller: So it was an eight-unit and then a three-unit directly beside it. So two dwellings – an eight and a three – and then both…
Riyad Khleif: Buildings got heavily damaged?
Morgan Ehrenzeller: Just the one. And it happened from, like, a street fight outside – what, wasn’t even our tenants. They went, like, set a blanket on fire and threw it under our apartment complex. Long story short, yeah – the insurance was never signed and bound. So I guess… But I think God was watching over because as this broke out, the fire burned one of the hot water heater water lines, so that helped contain it drastically because water was just pouring from the wall. So that helped contain it.
Riyad Khleif: Many units were damaged?
Morgan Ehrenzeller: Two units were damaged, and it’s only going to be probably 5K bucks.
Riyad Khleif: Oh, fantastic. Wow. Okay, there’s a lesson to dot the i’s, cross the t’s, and trust but verify. That’s another lesson there, right?
Morgan Ehrenzeller: That’s the lesson: trust but verify. That’s, you know, my fault for not asking for the declaration page. Yeah, I should have asked for the declaration page to verify that it was bound. So, you know, he was devastated, and he’s like, “You know, I’ll take the loss.” Right? I’m like, “No – we’re partners. When we lose, we lose together.”
Riyad Khleif: Oh, that’s an awesome attitude. Yeah, that’s an awesome attitude.
Final Thoughts and Advice for Aspiring Investors
Riyad Khleif: So what do you love the most about this entrepreneurship role that you’re doing? What do you love the most?
Morgan Ehrenzeller: The thrill. I love, honestly, I like real estate a lot from all aspects. I like the deal hunting, the negotiations – I like negotiating, shaving stuff down. I like taking a piece of poop and making it look beautiful.
Riyad Khleif: Yeah, and then sometimes that’s a pretty accurate analogy, right?
Morgan Ehrenzeller: Yeah. So I really just love all aspects of it, and I feel like it’s my purpose – that this is what I was meant to do. Oh, great. And that’s a great answer. When you feel like it’s your purpose, you don’t really feel like you’re working. You love what you do.
Riyad Khleif: Guys, if you can just find what you love – and if it’s not multifamily, for God’s sakes, go do something else. If it’s not real estate, I’m starting to teach other asset classes now – senior housing, industrial, FlexPays, self storage, mobile home parks. I’m starting to do a lot more different things. But if you don’t like any of those things, for God’s sakes, go find something you like to do. Because then you can identify and connect with a purpose. And that’s what life is about – the purpose of your life is to find your purpose and live it. And when you love what you do, work is play. You never work another day in your life, right? And you’re passionate.
Riyad Khleif: And when you’re passionate, you have the ability to influence people, like you do every day with these sellers, and, you know, your partners that invest with you – because they can see the passion, and they want to be around it; they want to work with you, invest with you, and sell to you, and so on and so forth. So yeah, that’s … I’m really glad you brought up purpose. So, is it just you, or do you have any other people on your team? You got a VA? Who else have you aligned with besides those partners that come in, maybe with some cash partners?
Morgan Ehrenzeller: As far as, like, my in-house team, it’s really just solely me and my VA who helps with a lot of the back-end and admin work. But a lot of these partners are active, so by all means they help a lot with the heavy lifting. It’s not just solely me.
Riyad Khleif: Or do you try to find partners that live in the state you’re buying in?
Morgan Ehrenzeller: Yes. Yeah. So fortunately I have a lot of capital sitting on the sidelines from people who want to do deals with me. So when I find a deal in a particular area, I try and align that so they are close to the asset. That’s generally how I’ve been.
Riyad Khleif: Oh, that’s smart. Super smart strategy. You just network, then. You get out there, you get information from people, you connect with people. I tell my warriors, my coaching students – that’s the most important thing you can do. It’s more important who you know than what you know. You agree?
Morgan Ehrenzeller: At first, yes. But I think you also have to have the resources when you get that network so you can really start executing. Sure, but absolutely – your network is your network.
Riyad Khleif: That’s absolutely accurate. I mean, sure, you’ve got to figure out how you’re going to add value to the people you network with. Maybe you find deals like you do; maybe you raise money like you do as well. Some do one or the other, and very successfully.
Riyad Khleif: So, if you could tell your 18-year-old self something – knowing what you know now, what would it be? Anything you would do any differently?
Morgan Ehrenzeller: Yeah, I would say not to let external factors influence your decision-making. The way I was brought up – you know, they jammed, “You got to go to college, get a degree – that’s why you’re going to be successful.” Obviously, if I knew what I know today, I would have just gone straight into real estate and doing what I’m doing. I’d be much, much further along. But, you know, if I could rewind time and get caught up to speed at a much quicker rate, I would – like I mentioned earlier – find that person and work for free for them for one or two years, because then you bypass a lot of the pain and mistakes where you’re tripping and falling, and you speed up the education process.
Morgan Ehrenzeller: And when you serve the table enough, you eventually get a seat at the table.
Riyad Khleif: Sure. Well, you know, I will tell you – no, that’s fantastic. Not a lot of people need help – I get asked that all the time. “Can I come work for free?” But you can also align or partner with someone who’s done it. You can add value to them in some fashion, find the deals, maybe help raise some money, maybe do some legwork. And yes, you’re doing it for free, but you can take the partnership approach as well. And that’s why I suggest you get around people who are doing this.
Riyad Khleif: You know, that’s it. It’s absolutely accurate. I’ve got one last question for you – what are some of the best pieces of advice you’ve ever gotten?
Morgan Ehrenzeller: One thing I got when I was younger from a kind of mentor when I was doing software was, “Morgan…”
Riyad Khleif: …If you’re thinking you want to use real estate as a vehicle to your financial freedom, then listen up: There are incredible deals coming in multifamily because the interest rates are causing a lot of deals to go into distress. So if there was ever a time to get into this business, it is right now. And I’m blessed to say I’ve helped thousands and thousands of people on their path to creating the life of their dreams. It’s my greatest blessing. So if you’re serious about creating that life for yourself and your family, and you’re going to do it with real estate, for God’s sakes come spend a couple of days with me. My two-day virtual bootcamp starts April 26th and 27th. You’ll be immersing yourself in this exciting business. I don’t sell anything there, and you’re going to leave that event knowing how to find deals, how to evaluate those deals, how to raise all the money you need for your deals, how to finance them, how to syndicate them, joint venture – the works. And it’s super early bird pricing right now. Again, I don’t sell anything at 16 to 18 hours of training – nothing being sold. And the investment is minuscule. Text the word BOOT CAMP to 72345 or go to RodsBootcamp.com right now, and I’ll see you there. I promise you’ll be glad you came.
Riyad Khleif: All right, let’s get to it.
Morgan Ehrenzeller: Good things come to those people who have patience. And I’ve stuck with that throughout my life. And it’s generally very true to a degree. And also, even if, like, a deal doesn’t work out in hindsight, in the future it may be the best thing that happened.
Riyad Khleif: Sometimes the best deal is when you don’t do one.
Morgan Ehrenzeller: I don’t know about the patience thing, man. That’s my worst quality – I’m so frickin’ impatient. But I can see a flip side to that, because you have to have patience, but also you have to have executional skills. You know, you gotta take action. You can’t use that line to procrastinate and not do a damn thing, you know?
Riyad Khleif: But, you know, when you look back at previous successes and acknowledge those successes, it helps you push through new so-called fears. What is fear but false evidence appearing real? Yeah. Okay. All right.
Morgan Ehrenzeller: I remember my first one. I would say I grew up in construction a little bit. I knew that I could figure it out – everything else I did, you know, starting a software company as a teenager, I had the mindset: if I can figure this out, I can figure out some freaking drywall too.
Riyad Khleif: See, that’s it. Okay, listen, brother, I really appreciate you coming down. You’ve really added tremendous value. I’m very impressed, and you need to circle back with me in a year or two so we can see where you’re at – because I know it’s going to be impressive.
Morgan Ehrenzeller: Absolutely. Thanks for having me, Riyad.
