The Real Estate Life Podcast

Hello everyone! We all make mistakes in our careers, in our jobs and occupations, and in our lives. It’s part of being human. When it comes to business, a simple mistake can mean a lot of money in losses, broken relationships, lost clients, and much worse. But that’s not the end of the world. In business, as in life, one needs to learn to deal with mistakes properly. In this podcast, I explain some basic principles that have helped me to get the best out of my own mistakes. Many of these lessons come directly from situations I was directly involved in or mistakes I’ve made, and I think that sharing them with you will help us all to improve our professional lives. All this and much more, up next.

“I picked up a high-interest rate of 9% for that deal; I put 20% down on a $75,000 property - which is not much - my return after renting that property was actually quite high and after 6 months, after I had it stabilized, I decided to refinance and got to keep it for four years.” Getting started on any new endeavor is never easy! Much more if you are investing money, and you are risking any losses. That is one of the main roadblocks for people interested in multifamily investing. In order to illustrate how a successful multifamily acquisition can be done, I created a this new episode detailing my first multifamily deal.

Hello everyone! As many of you know may remember, a few weeks back SAR Apartment Capital was mentioned in the local news in Augusta, Georgia, right after we announced the acquisition of 95 units in three completely vacant buildings in that city. The report mentioned how housing shortages and new investors coming from out-of-state were creating a gentrification trend in the area. For this week’s blog, I decided to explain briefly how these communities actually benefit when investors rebuild and rehabilitate abandoned or empty buildings, using the example of the Augusta acquisition. Up next.

Welcome The Real Estate Life Podcast, where we create a life of passive income through real estate and doing what we love. In this episode we have Winston Schofield, full-time investor in multifamilies with just over 500 units under management. Winston has a strong background in asset management and operations, and has now established the Jorjew Group with a team of commercial real estate professionals, where they focus on stable assets where they can re-develop properties. Today we will discuss how to recognize great opportunities, and why identifying whether or not there is a demand for housing is key before investing. We will also touch on the current state of multifamilies and why multifamily housing isn't going away anytime soon. All this and much more, up next. Bullet points (01:10) - Introducing Winston Schofield (01:47) - Winston’s background: Getting into real estate (04:15) - Transitioning from flipping homes to multifamilies (08:17) - The first big GP multifamily deal (09:38) - Discovering deals and building relationships: The Augusta deal (13:26) - Identifying a great opportunity (14:38) - What upgrades do you need to do to the units to get a bump up on rent? (16:25) - Identifying if there is a demand: Looking at migration patterns (17:30) - The most difficult deal (21:21) - The state of multifamilies (25:13) - What is one of your biggest failures and what did you learn from it? (26:47) - What advice would you give to your younger self? (30:18) - What does financial freedom mean to you? (31:54) - Managing small vs big assets (34:16) - Where to find out more

Welcome to The Real Estate Life Podcast, where we create a life of passive income through real estate and doing what we love. In this episode we have Rod Khleif, an entrepreneur, real estate investor, multiple business owner, author, mentor and community philanthropist who is passionate about business, life, success and giving back. As one of the country’s top real estate trainers, Rod has personally owned and managed over 2,000 properties. In today's episode we will talk about some of the most common mistakes investors make and how to learn from failure. We will also discuss the cycles of real estate, inflation and the current state of the market. Finally, Rod will share the details of his upcoming event, an amazing three-day bootcamp in Orlando. All this and much more, up next. Bullet points (01:29) Introducing Rod Khleif (01:50) Getting into real estate and the 2008 story (05:08) Learning from failure (06:07) The most common mistakes investors make (08:34) The cycles of real estate (10:44) Structuring deals (11:21) Discussing a current deal (15:08) Inflation and the current state of the market (16:28) The regret of selling (17:56) Don’t be in fear of the market cycle (18:32) Some newbie mistakes (19:20) Setting a good percentage (20:06) Acquiring distressed or receivership property: High risk and high reward (22:36) What asset class performs the best during a recession? (24:17) The Ohio deal and the tornado (27:34) The three-day bootcamp (30:57) Getting into Rod’s deal