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The Best Ever CRE Show

JF 4116: Multifamily Meltdown Risks, Operator Red Flags, and Today’s Opportunities ft. Rod Khleif

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7996 Ratings

🗓️ 11 December 2025

⏱️ 55 minutes

🧾️ Download transcript

Summary

Pascal Wagner interviews Rod Khleif, a 40-year investor who has owned thousands of units and trained operators responsible for more than 260,000 multifamily doors. Rod breaks down today’s confusing multifamily environment, explaining why conservative underwriting, realistic assumptions, and deep operator due diligence matter more than ever. He shares the biggest mistakes GPs are currently making—from aggressive rent growth assumptions to risky debt structures—and outlines the practical questions every LP must ask before wiring money. Rod also highlights where he sees distress, opportunity, and risk heading into the next cycle. Rod KhleifCurrent role: Founder, Lifetime Cashflow Through Real Estate Investing; Multifamily Investor & EducatorBased in: Sarasota, FloridaSay hi to them at: https://rodslinks.com | https://www.youtube.com/@RodKhleif | https://www.linkedin.com/in/rodkhleif/ Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com with code BESTEVER Join us at Best Ever Conference 2026! Find more info at: https://www.besteverconference.com/  Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It’s free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at⁠ ⁠⁠⁠www.bestevercommunity.com⁠⁠ Podcast production done by⁠ ⁠Outlier Audio⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Why are businesses like HelloVet choosing Apple products and services?

0:04.8

So we started the business two years ago.

0:07.2

We had a few people who were used to PCs and this was their first foray into Macs.

0:12.5

But it's been super smooth getting everyone onto those devices and everyone seems really, really happy.

0:18.0

Find out how Mac can help you run and grow your business at apple.com forward slash

0:23.6

HelloVet.

0:25.9

If you're trying to deploy capital into multifamily right now, it probably feels a little weird.

0:31.4

Rates are still higher than anyone wants.

0:34.0

Deals that penciled in 2021 are blowing up, And you've got one camp saying, this is the best

0:40.5

buying opportunity in a decade and another saying run for the hills. And as an LP, you're

0:46.5

stuck in the middle asking, should I even be in multifamily? If so, who should I invest with?

0:53.1

And how do I actually evaluate the people that are

0:56.0

pulling, putting these deals together? And today's guest has lived that question from every angle.

1:02.2

Rod Kleefe has personally owned and managed over 2,000 houses and is in thousands of apartment

1:07.9

units. He's been an active investor for more than 40 years, and his

1:11.9

students in his program is now owned north of 260,000 multifamily units. He runs the lifetime cash

1:19.2

flow through real estate investing podcast, which has been downloaded over 25. He said close to

1:24.8

30 million times. And he's built one of the largest multifamily education

1:28.9

communities in the country. I've even seen in Reddit threads as in preparation for the show

1:35.5

where students talk about closing 20 plus deals after joining his warrior group. And in this

1:41.4

episode, we're going to get very tactical for LPs. We're going to

1:44.7

walk through how Rod thinks about today's multifamily environment, what he actually teaches

...

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