FCP 157: The State Of The Economy And How You Should Prepare – Featuring Rod Khleif

Jack: All right. Hello everyone. And welcome to another episode of “The Forever Cash Life Real Estate” podcast with yours truly Jack Bosch. And today, I’m having our good friend coming back for a second time, Rod Khleif here. And, Rod, how are you doing today?

Rod: I’m good, my friend. It’s good to see you. It’s great to…you know, we probably spent 20 minutes talking before we started recording so it’s always great to reconnect.

Jack: That is right. We’ll probably speak 20 minutes after we stop recording, too.

Rod: Right.

Jack: So, guys, Rod is a good friend of ours and Rod is one of the premier experts in multifamily today. And today, we’re going to talk about the state of the economy right now particularly pertaining to multifamily, what’s the market doing, what’s the challenges in the market and so on. With that said, we’ll start in just a second right after this intro.

Man: Welcome to “The Forever Cash Life Real Estate Investing” podcast with your host Jack and Michelle Bosch. Together, let’s uncover the secrets to building true wealth through real estate and living a purpose-driven life.

Jack: All right. So we are back with yours truly here and with my friend Rod Khleif. So, Rod, you’ve been here already. This is the second time you’re on our podcast. The first time was obviously amazing. You told us a story. So give us the short…for those who have not listened to the first episode or watched it, give us like the short version of your story quickly so that they know who we’re talking to here right now.

Rod: Well, it actually ties into what we’re going to talk afterwards as well, Jack. So, you know, I immigrated like you did. I was six years old, ended up in Denver, Colorado, lived in Denver for 30 years, ended up accumulating over 2000 houses and multiple apartment buildings that I rented long term. And just to give you some context, in 2006, my net worth went up $17 million, didn’t do anything, it just went up in value. But in 2008, I got my butt handed to me. I lost $50 million, lost everything. And the reason that’s relevant is because that ties into the conversation we’re gonna have next which is where we are right now. But, you know, what was interesting is in the crash of 2008, I had 800 houses, and I had multiple apartment complexes, and it was my houses that pulled me down mainly because they were too spread out geographically here along the Gulf Coast of Florida. But my apartments did just fine. Yes, they pulled back but, you know, maybe 11% in collected rents, which was the national average, actually, but they did just fine. And the reason it’s relevant is because it’s like doo, doo, doo, doo right now. It’s deja vu. It feels like 2006 and ’07 to me right now. And what’s interesting is, you know, Jack, you’re a member of my…

Jack: Let’s jump right in there. Why does it feel like 2006, 2007?

Rod: Well, I’ll tell you why because listen, there’s massive unemployment…well, these things don’t feel…it just for me it’s a gut feel, okay? I’m not sure that I can even quantify it. But I will tell you, the reason I had this gut feel is that there’s massive unemployment in this country. You know, small businesses are struggling. I mean, the streets are empty. Downtown areas and shopping areas are like ghost towns. You know, employers rather have sent their employees home. You know, they’ve shuttered their shops, all the schools are closed, whole economies have shut down and this has literally affected the entire world. And, you know, there’s huge numbers of rising delinquencies and evictions, and I mean, in renters with evictions and home and commercial mortgages. And, you know, yes, as it stands today, I don’t know when this episode will go live. When will this go live, Jack?

Jack: We’re pretty quick. Within a couple days.

Rod: Okay. All right. Okay, okay. Well, it’s August 27 today, and as it stands, you know, Donald Trump has done an executive order but I gotta tell you, I don’t see much stimulus happening after the election if at all. And so, you know, basically, we’re in the middle of a recession that a lot of economists are saying is the worst the U.S. has experienced since the Great Depression, okay? Our GDP dropped 5% which is staggering, the first quarter of this year. The economy has dropped 32.9% the second quarter of this year. You know, and by the way, that GDP drop you could compare that to the worst of the 2008 crisis. There’s 30 million people getting unemployment, 17 million are currently unemployed. And so, you know, the PPL program has expired that businesses were able to keep their employees on their payrolls. You know, the eviction moratorium just ended this week.

And I think what a lot of people don’t realize is 70% of our economy is consumer spending, and that’s the biggest driver of our economy and that dropped 34.6% in the second quarter of this year. And, you know, Bankrate did a survey, bankrate.com, of consumers and they…Americans, then they said that they plan to spend less, and in some cases spend much less in the foreseeable future and again, that’s 70% of the economy.

But, you know, what’s sad, Jack, is that the bulk of this pain is gonna get suffered by the demographic group that makes the least amount of money. For example, people that make $32 an hour or more, those jobs only fell by about 2%. But the people that make $14 an hour or less fell by 20%, even $14 an hour to $20 an hour, drastic declines. And the other thing is…so, you know, it’s gonna be the low-income families that get hurt the most.

Jack: It always is unfortunately, so that’s why it’s important to actually raise…either if you want to be in a job world, you gotta make yourself more valuable so that you are part of that group that’s the least affected because what happened to all the people that make, I don’t know, $80,000 a year or so in the title companies, title officers, they get performance [inaudible 00:06:21.678] just went home and work from home. What happened to all the white-collar workers, they just went home and brought their laptop home, but if you make $14 an hour, you don’t even have enough money to buy a laptop, right?

Rod: And, you know, even for, I will tell you, you know, a lot of people are having to innovate right now, they’re having to pivot, you and I included. I mean, we had to put all our events online. We had to innovate ourselves. So there’s a lot of innovation going on and that’s not a bad thing, that’s actually a good thing. But, you know, if you’re watching, Jack, you’re a leader and right now the world needs leaders. And so, you know, let me just say this as kind of an aside. If you listen to my podcast or you know anything about me, you know that I believe 80% to 90% of your success in anything is your mindset and your focus. And right now your focus is so freakin’ critical because there’s so much crap out there. I mean, don’t get me started on the political situation but, you know, the COVID nonsense and all of this fear-mongering and fear that’s pervasive out there and if you get sucked into it, it will paralyze you. So it’s so critical to direct your focus, redirect it if that’s happening to what you want, not what you don’t want, because wherever you focus is going to expand and get larger. So you have to be very, very careful. And as a leader…and again, if you’re listening or watching us, you’re a leader, and maybe you’re just leading your family, but the very least you’re doing that but likely you have other people that look up to you, peers and employees and so on and so forth and so you really have to step up right now, it is time to step up. Because I will tell you, and I just did a Facebook Live on this, and I did a YouTube on this yesterday, literally yesterday, the crash is coming. I’m just telling you. The headline of my post was the real estate crash of 2021, it’s coming. And to think it’s not as naive candidly. You can’t have this much pain in the economy and not have a significant correction. So the stock market is overvalued right now because what has happened is these companies have had very low cost…borrowing cost to borrow money and they’ve borrowed money at very low-interest rates, and they’ve actually bought their own stock back and they’re propping their own stock back…up rather, propping their own stock up.

Jack: With borrowed money, you said.

Rod: Yeah, with borrowed money and we are significantly overvalued both in real estate and stock market. And as you know, Jack, I interviewed Harry Dent, an economist on my podcast this week and had him speak to my mastermind that, you know, you’re a member of on Multifamily Boardroom. And, you know, he’s a Harvard-trained economist, and he’s written lots of New York best-selling books. Now he does talk about crashes and he does that through his demographical research. And what’s interesting, though, is I saw him speak in Vancouver over 20 years ago, and had I listened to what he said I wouldn’t have lost $50 million in ’08 because my butt would have been out of residential real estate, because he absolutely called it. He predicted it. And so I’m listening to him now…

Jack: So what you’re saying there’s a crash coming in residential real estate, in housing?

Rod: Yes. Well, not just real estate, not just real estate, the stock market literally in all asset classes. You know, basically, we had about $240 trillion in assets globally before the 2008 crisis, so $240 trillion. We now have $477 trillion, including real estate stocks and bonds. It is massive artificially inflated.

Jack: Well, that happens when… I agree with you on that, that the U.S. dollar is weaker and assets has been inflated because we have multiple podcast episodes over the last few weeks with multiple experts on that, because the fed is also buying back everything they can. Basically the bad debt has been…the big bad debt. Not your mortgage and not my mortgage and not someone else’s mortgage or somebody else has said that not the little people that are the little guys that are struggling paying their own mortgage, but we’re talking about the big trillion-dollar debts out there, the fed is buying those back, and therefore in giving basically making, therefore, the big corporations whole. Now the big corporations now have extra money and because of that they can now buy their stock back or because their whole…the investors prop up the stock because of that but it’s not a reflection of the true nature of the economy, right?

Rod: No. And let me add this, so the fed has been printing money since ’08, okay? But what’s interesting is they’ve printed more in the last few months than they printed the entire seven years after the ’08 crisis. So they’ve just really gone crazy with it and I mean between the, you know, the PPL loans for businesses and the $600 additional money for unemployment, what’s astounding is we did an analysis of that extra 600 bucks. And what’s interesting, and I’m so glad Trump didn’t, you know, renew that and he dropped it is that those people that were getting…80% of those people that were getting that extra $600 a week were making more money being unemployed than they were employed. They had no incentive to go back to work. It’s the dumbest thing ever.

Jack: And people have noticed that. I mean, like Michelle is part of another mastermind coaching group called Strategic Coach where she is with Dan Sullivan and she’s in their top-level group. And there’s a gentleman in there that owns a series or like a chain of probably somewhere close to 100 grocery stores. And he basically said before the stimulus he was getting applications like crazy. The moment the stimulus hit, he had the hardest time finding employees because everyone’s like 600 bucks, it’s not a household, it’s a person, right?

Rod: Right.

Jack: So $600 a person, two people unemployed, that’s $1200 a week times 4, that’s $4800 a month plus the state unemployment. That’s another $300 a week, so that’s $900 a person, $900 times four is $3600. That’s $7200 a month. No wonder when I go to the mall and we go out almost every other day here. We go to restaurants and things like that. Be safe. We wear a mask and other things [inaudible 00:13:03.760], but we were not afraid of the virus. And so when we go to the mall, there’s literally a line outside of Louis Vuitton, and Gucci and all this kind of stores because I mean, at least it’s being spent for something. It might not be being spent for the right thing. It might not be investing. I cringe when I see it because they should invest it in their own education, they should invest it in their own knowledge to make them more valuable so that the next thing comes and they get…lose their job again, there’s no stimulus, they don’t end up losing their home.

But people do have money. Just yesterday in one of our apartment complex somebody…now that we can evict again, we sent our 30-day notices like 32 days ago and we have our first eviction notice because on one of our properties, we have 10 people who played the game and just did not pay since March, right? Guess what, one of them just paid $3400 in back pay at once.

Now, most people don’t have more than 500 bucks in their bank account, so that must be coming from the stimulus. So the stimulus was useful for a lot of people but also for a lot of people it wasn’t useful and it actually just accomplished the opposite.

But now let me go quickly into the subject matter of, okay, so the state of the economy is that the economy is opening up again. At least in Arizona where I live, like the traffic is back, the stores are open. Yes, you might have to wait outside of a store because they only let so many people in. Yes, the opening hours of certain stores are lower but it also propelled online selling by probably another 10…by 10, 15 years.

So in the real estate classes, which of the real estate classes do you believe are the ones that are going to fare best in this environment and which are the ones that are gonna fare least?

Rod: Yeah, well, I think it’s common sense that the A and B assets will do better and the C and D ones are gonna have the trouble based on what I said earlier regarding who’s being most impacted by this crisis. You know, and I’m sure everybody realizes printing trillions of dollars can’t possibly be a good idea. I mean, people like Warren Buffett, the major bankers in this country, major economists have all indicated it’s bad policy. And I told you about that $477 trillion valuation. Back in the Great Depression everything fell about 50%. Can you imagine if we lose half of $477 trillion in valuations? But I’m gonna tell you, there’s going to be a big hit. You know, Harry Dent predicting a 50% drop in real estate values in this crash. Now, I’m not talking about cash flowing real estate, I’m talking about non-cash flowing when I make that statement. But I will say this, you know, there will be bigger drops in the high-end properties and probably less than the everyday homes. But if you think about the effect of a significant drop, right now $30 to $40 trillion is the global GDP, okay? And then here in the U.S., we have $125 trillion in financial assets in about a $21 trillion GDP. You know, Harry called it bubble economics, you know, you create this artificial thing from preventing a downturn but at some point, you’re gonna have to take your licks and then there’s gonna be a rebalance, which, of course, will make everything healthier. Now, you know, the economists are saying it probably won’t be a big crash and they’ll probably be the same ones that say, yeah, when it does happen, it’s gonna last for 10 years. Dent says it’s only gonna last for a few years because it’s been going for a while, we’ve been propping it up for a while. He thinks it’s gonna end in 2023. But the reason that I want to listen to him is because he uses demographical, that’s his big thing is population growth and decline and peak spending years, that’s his big thing, but he also looks at a technological cycle, he looks at a geopolitical cycle and he says they’re all confluencing right now. Forgetting COVID, COVID is just the catalyst, okay? And again, you know, he is a lot about doom and gloom, but I gotta tell you, had I listened, I wouldn’t have lost everything. And I will say there gonna be some other countries that do even worse than we do, like, for example, China, 78% of their net worth is in real estate, where the U.S. is only about 30% of our net worth is real estate, you know, they’re gonna really get their butts kicked. But now let’s talk about why we love multifamily, Jack, if you’ll, you know, if…

Jack: Sure, go ahead. Let me just quickly before we go into that. So you basically you’re saying, I know Harry Dent is well known and out there but he’s also been the eternal kind of gloom guy that called for gloom when the opposite happened but then also called for… And he was right a few times, right? I mean, absolutely. And I do and I was part of the presentation that he gave at the mastermind that I belong to, the multifamily mastermind because as you guys know, what we do is all about we teach you land flipping so that you build up your cash machine and that’s more important than ever right now, right? It’s more important than ever to build up a cash machine because if you have cash, you’re king. I mean, if you have cash, you can take advantage of these opportunities. And when in 2007, ’08, ’09 the market crash, we have cash, and we were able to take advantage of that because crashes don’t last forever as you said, Dent he [inaudible 00:18:37.057] he said that any crash would only last a couple of years because of demographics and all this kind of thing.

Rod: Well, yeah, the millennials will start buying in 2023 and that again consumer spending 70% of the economy, they’ll be in their…started getting into their peak spending years.

Jack: Right, so the spending years which obviously plays a big role. So we’re looking at a window like the thing is, here’s no such thing like crash…or there’s crashes, but there’s no such thing like bad news or good news, there’s only news that you can prepare for.

Rod: That’s right.

Jack: So if we…the worst-case scenario that I think I want to do a call out to our audience here, the worst-case scenario is that what Rod said comes through exactly like he said, it comes through. In this scenario, we…a lot of people are going to suffer.

Rod: Yes.Be a lot of pain.

Jack: But also in that scenario, there’s going to be a fantastic amount of opportunity because we can’t change the facts, you and I and Rob I and you listening, we’re not powerful enough to change the future and to make anything happen in this world that will stop a crash from happening, right?

Rod: Right.

Jack: We cannot do that. But what we can do is we can take knowledge, we can take information, we can learn from this and we can say okay, if this is what’s happening, [inaudible 00:19:57.490] not happening is then a different question but if this is what’s happening then I need to be prepared in a certain way in order to be number one protected from it, number two, be able in a position to be taking advantage of the opportunities, of properties that go back to the banks, of hardships that are out there that will require a solution. And it’s not taking advantage of anyone but I think by actually being able to pounce on an opportunity…
Rod: I call it ethical opportunism, or compassionate capitalism.

Jack: Exactly [inaudible 00:20:32.882] because these properties go back to the bank anyway and the bank is gonna sell it to somebody, and they might as well sell it to you.

Rod: Well, the thing that, and to piggyback on what you just said, it’s keeping your integrity as you move forward and capitalize on opportunity, there is gonna be a ton of pain in this country, a lot of people are gonna fail in real estate, a lot of businesses are going to go under, they’re already going under, a lot of properties in foreclosure. But here’s the good news, if you’ve got some cash flow, or you’re sitting or have access to cash, you’re very likely going to be able to buy assets via both businesses and real estate at 50 cents on the dollar or better. And so the name of the game is to get in as much cash as possible or have access to cash so you can capitalize on this again, ethical opportunism. And, you know, I’m gonna tell you that…

Jack: So with that said, why are you bullish on multifamily?

Rod: Okay, because I will…I’ll give you a quote from the President and CEO of Civitas, a giant multifamily asset company. “Multifamily weathered the storm more successfully than others. Multifamily real estate suffered…” This is in the 2008 crash. Multifamily real estate suffered less and rebounded more strongly than other major types, other asset classes in both of the last two recessions. Not only did multifamily rents fall the least and recover the most but they actually fully recovered and exceeded their levels within three to four years of each decline.” And again, this is what I experienced back in 2008. If I hadn’t cross-collateralized my apartment buildings with packages of houses, I’d still own them because they were doing just fine. You know, but again, yes you need cash to buy multifamily real estate but it doesn’t have to be your own cash. How do you make money in real estate? Just like Monopoly, through rents. And if you have assets that cash flow that pay rents, you’re going to have a lot more leverage to go to banks and or if you have cash because there are gonna be a ton of opportunities. And I’m gonna tell you, average people are gonna get caught up in fear, they just are, that’s just what happens. But, you know, successful people will push through that fear, they’ll manage that fear and they’re going to take advantage of what I think could possibly be the biggest financial growth opportunity in our lifetimes. And by the way, if you don’t mind me mentioning, Jack, you know, I do these low dollar two-day multifamily boot camps. So if you’re thinking you want to…

Jack: Sure, sure, sure. Go ahead.

Rod: …do multifamily, I’ve got one coming up October 17th and 18th, it’s $97 for two full days. And I don’t sell anything at the event. It’s two full days of training. It’s multifamilyvirtualbootcamp.com and if you use the code Rodfriend, just one word, Rodfriend, it’s another 50 bucks off. So you literally can attend the event for 47 freakin’ dollars, okay? And it’s two full days I’m not selling anything so it’s a duh if you’re interested in real estate at all. But guys, the biggest opportunity very possibly in your lifetime is coming, in this real estate space. Now not in retail, retail is getting killed, office is getting killed, but in multifamily for sure, maybe in warehouse space as well which isn’t my wheelhouse but mobile home parks, yes, that as well. But actually, those are gonna get hurt because that’s the lowest demographic as well.

Jack: So what we’re doing, guys, is that…so the reason why like you might be wondering why is Jack part of Rod’s multifamily mastermind, very simply because as I said, we have been… This podcast is called “The Forever Cash Real Estate Life” podcast, it’s all about living through forever cash, it’s all about cash flow. So we chose as our method to make money land flipping, right? Many of you listening right now are choosing land flipping because land flipping is a simplification of real estate. When you make checks, one of our students is making $137,000 check in the next couple of weeks, right? When you make that kind of money, what you do is…what you want to do is you don’t want to go buy yourself a Ferrari or a Tesla or something with that, you want to go and invest that into further knowledge for yourself but also you want to invest in something that now brings generational wealth for you, that brings in cash flow. And then for that, you got to know what is the right investment. If you bought rental houses or if you bought houses in 2006 then you were broke in 2008. If you bought houses in 2009, you were wealthy in 2015 or 2018, because those houses went up fourfold, right? So we didn’t buy any houses in 2006, we bought single-family houses in 2009, ’10, ’11, and ’12, they have all doubled if not…and some of them have gone up fivefold in value since then. And now we are cashing out of some of them and rolling that back over as long as rolling our profits from our land flips over into these multifamily opportunities but very carefully because again, there’s, if what Rod said is coming through, there’s going to be a dip on that. Having said that, we’re doubling up on the land sales on the land flipping because, currently, the land flipping market is the hottest we’ve ever seen, right? Because everyone with COVID wants to get out there and buy a piece of land so that they have some extra space, and so on. So so we’re really capitalizing on what works right now, we’re capitalizing on those on those deals. At the same time, where we’re becoming bigger and bigger experts in the multifamily space so that when the opportunities come falling into our hands you’re not gonna miss it because as they say, success is found or opportunity’s found at the intersection, what is that, of knowledge and…

Rod: Action.

Jack: …success is found in the intersection of opportunity, something like that?
Rod: I don’t know, I think it’s action. But let me say this…

Jack: It is something like that. But if I bring you, I don’t know, a $10 million medical office building opportunity right now, not to you, Rob, but to some of our listeners, you would not know…potentially not know what to do with it. So because just like I didn’t know what to do with that 18 years ago is when I got into real estate. So I got started with what I knew but I then also studied 40 other pieces to be prepared when an opportunity comes along. And what Rod is saying right now if I quote you right is get the education, he has a training coming up, you want to…definitely want to look into that. You’re a good friend of us as we…Michelle says hello by the way. And so so yes, absolutely, this is absolutely crucial. Because when 50% deals coming in, you need to know that they are deals and you only know that if you have the knowledge for it. So that has nothing to do with what you do it to generate your cash, right?

Rod: Right.

Jack: But you generate your cash with what you do, but then you roll your cash over into opportunities. But in order to not pick the wrong opportunities, you got to have the knowledge and how to identify those opportunities. So there’s always space for multiple pieces of knowledge from multiple methods that you need to know and learn over time and you just focus on one for [inaudible 00:27:47.800] cash generation and the other one for your investment.
Rod: That’s how every wealthy person in the country does it, they find their vehicle to make the money, be it land flipping for example and then they invest that money into cash flowing asset classes, real estate asset classes and multifamily’s the best out there. So guys, the proverbial, you know what is about to hit the fan, and it’s gonna be really ugly. So what do you do? Do you run and hide with this information? I hope not because forewarned is forearmed. And with crisis comes opportunity and the opportunities are going to be incredible if you’re ready. Again, cash will be king but it doesn’t have to be your own cash. And if you learn this business, if you don’t already know it, you’re gonna have the confidence to influence investors to partner with you and invest in deals.

Jack: We’re looking for two deals this year still, we want to buy about like 100 units plus or 90 units plus is kind of our target plus B kind of properties, and B or A properties. So we’re looking for deals. So if somebody finds a deal, you don’t have to have the money to do the deal, you can partner with people like us.

Rod: There you go, yep, same here, yep. Yeah, there’s plenty of money looking for deals. And by the way, you know, if you’re interested in this multifamily space, I’ve got the largest…we’re really the largest commercial real estate podcast in the world now, I’m humbled by that, we just broke 9 million downloads. So, you know, it’s called Lifetime Cashflow. If you put in real estate, if you search on your iTunes on your podcast app…

Jack: Just search for Rod Khleif, you’ll find him there.

Rod: Yeah, search Rod Khleif.

Jack: Great podcast.

Rod: There you go. Thank you.

Jack: Particularly look for the episode where he interviewed me, of course.

Rod: Yeah, right, that’s the best interview on there, of course, is the one with Jack, right.

Jack: Right, right, right. All right, man. So this is exciting. I mean, yes, there’s a crash coming. Yes, if you have a house right now and prices are going up, it’s because people have cash and people have…from the stimulus and people have…smart…some people have put that down as a down payment, they’re in a position to buy right now. But also there is pain in the industry, there’s…not in industry, in the economy. There’s pain that we don’t yet see and once all the stimulus goes away then the pain will be visible and the pain will have to come out one way or the other. And what Rod says and I do agree with him is that this pain will predominantly come out in the form of a correction in the stock market and I think in the single-family market, and it’s already obviously through the COVID, it’s already in the retail market and office market already, it’s been felt there already.

Rod: Oh, yeah, no, my friends in the retail space, the average number I’m hearing is 70% of their tenants are in trouble. And, you know, I just did a YouTube video on this, if you go on YouTube, I talked about this in more detail, it literally just went live yesterday, it’s already at 5000 views. But so, you know, if you want to dig in a little bit more on some of the stats as to why Harry and I believe it’s coming, you could watch that as well.

Jack: Wonderful. [inaudible 00:30:51.646]

Rod: But I appreciate you having me on the show.

Jack: There is lots of information. The point is, we’re in a crucial period of time. Chances are COVID will linger for quite a while so which is great for land flipping, but it gives you that window of time right now to find additional information, to learn additional things, to be prepared to pounce on the opportunity to literally go from doing well to being set for life.

Rod: Yeah. Yeah, that’s coming.

Jack: That said, thank you very much, Rod. I loved having you.
Rod: My pleasure, buddy.

Jack: I know you’re a reader. Let’s do a couple of things. What are the greatest books that you have lately…or the good books that you lately reading?

Rod: Sure, sure. You know, it’s funny, I’m talking to my coaching students tonight and I’ve got a couple books from my library here because I’m talking about the power of influence today with my coaching students. And so I’ve got Robert Cialdini’s books because I met him at a mastermind, in fact it was the mastermind you and I met at, the War Room, his book “Influence” which is…and both of these are global bestsellers, and his newer one is “Pre-Suasion.”

But I’ll tell you, my love language is gifts, so I give my students lots of books. In fact, “The 5 Languages of Love.” I mean, there you go, if you have anybody that you love, get “The 5 Languages of Love.” But I give them books like “Turning Pro,” Steven Pressfield, stop being an amateur be a professional, “The Slight Edge,” those little decisions you make every day that traject your life up or down, “The Magic of Thinking Big,” Canfield. “The ONE Thing,” Gary Keller. There’s a few. I can keep going.

Jack: Wonderful. These are great books, I read most of them and I 100% agree with you on that they’re great books. So with that said, guys, thank you very much. Thanks for being on the show, Rod. We loved having you.

Rod: Thanks, buddy. Thank you.

Jack: And with that, that concludes another episode of “The Forever Cash Life Real Estate” podcast. As always, give us a five-star review, share it with your friends so we can get more traction, even more traction, we can share the message about cash flow and the importance of it all over the world. All right. With that, thank you very much. Bye-bye.

Man: Enjoy this episode? Then make sure you like, subscribe, and post your comments and questions below the video. We’re looking forward to hearing from you.