Today my guest is Rod Khleif, who made $50 million in real estate, lost it, then made it back again. Born in the Netherlands, Rod immigrated to the US at age six with his brother and mother. Growing up in Denver, Colorado, his family didn’t have much. They shopped for groceries at an expired food store, and wore clothes from Goodwill and the Salvation Army. “We really struggled, but I knew I wanted more,” he says.

At age 18 Rod said, “Screw college.” He got his real estate license and made $8000 during his first year; $10,000 his second year, and over $100,000 his third year (which back in 1980 was “some pretty decent change”). What happened between year two and year three that caused Rod to 10X his income? The answer has to do with mindset and psychology—both of which impact 80% to 90% of your success in anything you do, Rod says.

In this episode, we discuss:

• His mom’s incredible work ethic and her own success in investing

• How Rod has owned over 2000 houses and thousands of apartment units (in 2006, his net worth went up $17 million while he slept)—he thought was “a real estate God—and when that happens, the God of the universe will give you a nice little smack-down”

• How he lost $50 million in 2008-2009

• The mindset it takes not only to make $50 million, but to recover from losing that

• How there’s incredible opportunity coming today—and everything, including real estate, is going on sale

• Why you should “pick your vehicle (for wealth) now and learn it as fast as possible, but don’t tie your identity to your vehicle—“If your vehicle fails, that’s fine. You’re not a failure.”

• Why we must be either “all in” or “all out” in our decisions

“The world needs leaders more than ever right now,” says Rod. “It’s important to pay attention to what you bring in, and focus your mindset in the right direction. Be careful who you allow to influence you. Get around people that want more out of life. Wherever your focus goes, energy flows.”

It’s important to have goals, especially in this economic environment. You have to know what you want and why you want it. Create a hunger in yourself, so you can push through fear and limiting beliefs.