Immigrated to the US when he was six. Dressed from clothes from goodwill. And his wooden shoes.
Started in Real Estate as a teen buying single family homes and made $10k the first year. $100k the 3rd year at 20.
By 2006 he had a net worth of $17 Million
At his height, he owned 2000 properties, and a net worth of $50 Million but lost it all in the 2008 crash
The lesson: Single family homes did not scale. Contrary to initial opinion, It was not the debt.
The secret to digging out of the hole – which is the formula for success,
1. Knowing what you want.
2. Surrounding yourself with people that want more out of life.
3. Help others to help yourself.
I asked Rod about raising interest rates. Predicts a Recession coming – and his being super conservative with deals.
One big difference this time, he has a podcast with 12 Million Downloads. Started using the Social Capital to raise capital in syndications – 506 c3s
To get to 12 Million downloads – A. Add Value and B. Be Consistent. And, its not what you say, but how you make people feel. Do this and success is inevitable.
Rod talked the journey back and his purchase of a Florida beach front $8 Million house – which turned out to be an empty victory and what he ultimately did for Fulfillment
Rod does not call business failures “failures” but seminars.
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