Youve made a career of being able to have these long-term relationships. So, I love it that you do that. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. Ken McElroy: Sure. Ken McElroy: Yeah. I was taught the same as everybody else. You determine the property value, which becomes your offer. But weve been to Russia, Asia, Australia multiple times, Europe, all over Europe, all over the US, Canada, Mexico, Spain, you name it, Bolivia. But really, my love is multifamily, which is what I primarily do right now. Ken McElroy: Its so true, Justin. behind Ken's fourth book, The Sleeping Giant, is to help inspire people to believe I wanted to do real estate a lot longer than I was actually doing real estate because I had this limiting belief in my mind that I had to have the money to be able to do the deal. Like, I want to do this anyway, and its really neat that we get to share this with the world, you know? Ken McElroy is a famous Real Estate Investor, Author, and Entrepreneur. Commercial-Free YouTube Videos Let us show you how to get there. Discounts on Upcoming Courses. Robert Kiyosaki and Ken McElroy discuss the current state of the real estate market, including the impact of rising interest rates and the importance of understanding debt and market cycles. Further, his account has 16,287,514 views with 299K subscribers. Essentials of Real Estate Finance can help students pass their exams, assist professionals advising clients, or help buyers understand what finance options are available. And then I started doing a bit of those. Ken got his start during college, when he took a job managing an apartment complex. We have at KenMcElroy.com/LifestyleInvestor we actually have a test that says, What kind of investor are you? So, you can maybe try that. Robert had me on stage. I was like, well, the good thing when youre young is that you dont know any better, and I didnt know any better. So, theyre just frothing for guys like us that can bring them something that provides cash flow tax-free. And so, when people like Mr. Litwin or my uncle can come in and say, Hey, these are things that you should be looking at, then you slowly change your pitch, you slowly change your business plan. Its about understanding that determination and self-motivation are the real keys to thriving. Ken was by no means an overnight success. When my dad passed 10 years ago, I got to learn all about hospice and all of that. Monthly Webinar Thank you. Ken believes in sharing these successes, as well as his setbacks, to help educate and inspire investors to bridge the gap between where they are and where they want to be. Ken McElroy: Yeah. And so, Im like, Well, okay. So, then I really got involved and I said, Okay. But Robert and I were at a conference in New York with Trump, and I remember we were walking through the Javits Center and theres this booth. More Important Than Money: an Entrepreneurs Team. And so, that was really cool. Lets designate a bunch of money from our properties into these foundations and bring on this director, so which we did. I called Robert and I met him and Kim at the Phoenix Country Club because they were living in Phoenix at the time and they had a home in Hawaii. Discounts on Upcoming Courses. We were talking about a few other people in your pipeline that you did this. And I feel like thats exactly what you guys have had. You have to evaluate your relationships with your people and you just never know when that is. I read it in one night. Free shipping for many products! I bought it over 20 years ago. 3pm - 6pm. Take the Quiz to find out! In the beginning, Justin, I was going out and saying, Hey, if I find a good deal, would you invest? And the answer was always, Yes, of course, but then when the time came, they were nowhere. His career kicked off while in college as he took a job managing an apartment complex. You know, its beautiful, right? So, I brought them to a bunch of places as my kids were grown up and just kind of made it a family affair. You fill it out. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. Again, Justin, you just got to like put yourself out there and you just got to put things in motion and anybody listen, I grew up like you very humbly and thinking that this is where I was going to be for the rest of my life, and I just continue to work hard. So, Im like, How hard could it be to collect rent and pay a few bills and keep the place clean? And, boy, that was when my lessons started. As per sources, he has assets of $750 million in real estate. I actually was pretty good at keeping it full and managing it. To get your questions answered and learn more about Ke. It was cool hearing all that he knew and hes actually from Redmond, Washington, or lives there right now, so just outside Seattle. This is working. But his determination to learn and ability to surround himself with the right people eventually paid off. Its funny. In addition, the podcast contains 284 episodes as of April 19, 2023. We believe that everyone deserves financial freedom. Ive got to assume you didnt have this yourself. It was a senior and it still is a senior property. And Im glad in many respects that I didnt figure that out that I was a little too hard-headed because it would have been for the wrong reasons. We found that just from doing something that Ross and I wanted to do, our culture got better, stronger, deeper and tighter, and we started attracting very good people, because they wanted to be part of something bigger than just making money. Ken McElroy. Id never been to anything like this. The ABCs of Real Estate Investing by Ken McElroy - Complete Book Summary. Why relationships are the foundation for success. And I was scared to death. And so, Im like trial by fire, I guess, and then eventually kind of turn that into the more of a learning platform like yourself and put some real effort behind it and some people behind it and put some wind behind it. 298 Listens. Having purchased over $400 million in real estate in the past two years, Ken brings a unique property management perspective when estimating a property's potential value. I didnt know any better. Because when we officially met, I hadnt even connected the dots yet when you said, Oh, yeah, I was that guy that wrote it. I was like, Ah. You hold a special place in my heart. Management. So, I got involved with just a simple walk, and I started doing almost like a March of Dimes walk and it was a small growing movement and it grew each year. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. I put my family first and I would bring them on a lot of those trips. . Tickets: $20-$24; 713-862-3838, fitzlivemusic.com. And if the deal is good enough, the money will show up. And thats the truth. They promote the upcoming Limitless Expo, featuring over 40 speakers on topics related to . He was a real estate attorney, still my attorney, by the way, and an incredible friend. And I sat down with him and well, first of all, the first thing I did is Im like, Okay. What he does: Ken McElroy currently owns approximately $1.5 billion in real estate assets, including office buildings, condos and single and multi-family homes. he has worked as a Real Estate Investor, Author, and Entrepreneur for over 20 years. He was born in a state in the United States. And so, we said, Okay. We had a good time in Dallas, thats for sure. Condition: Very Good. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. And I kind of have this philosophy that as long as someone in my network is an expert at the thing, if Im going to spend money on it, I might as well do it inside my family, my family of friends. You will learn how to get started investing, how to assemble an all-star team that will set you up of success, how to identify the right market and submarket, how to gather numbers and information to make sure deal cashflows, how to write an offer and get a deal under contract, what to focus on during due diligence, how to create a business plan, and how to manage your investment. Ken got his start during college, when he took a job managing an apartment complex . In fact, that is one of our core values is to be giving. And you know, its interesting, my parents werent able to afford my education either. This channel is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. 3) Employment, Population, and Location. Were you underpaying? Ken McElroy: I appreciate it. (46 to 54 years old) - Now in or entering their prime earning years, this group will also face a tough time selling suburban homes, hampering the ability of these boomers to move. And so, were involved in a community. This is probably $5 or $10 just this one. I go, The deal, its interesting. I go, The bigger the brochure, the worse the deal. And he started laughing and we started saying, kind of to your point, like deals get done almost on a napkin now like the high math. I believe that you had to have a bunch of money in the bank. He grew up in a family that was below middle class, even in some cases, and lower than that. Here are a few principles about property investing we need to get out on the table right now: The seller's asking price is irrelevant. McElroys net worth is $20 Million. So, those kinds of things, they open doors and get you in spots that maybe you wouldnt be at from a speaking standpoint or on a radio or whatever. I would ask him questions. . And like a lot of people, thats how you started. Click to enjoy the latest deals and coupons of Ken McElroy and save up to 70% when making purchase at checkout. Reviews go a long way in helping us build awareness so that we can impact even more people. Because when you take two people that have their own unique set of superpowers and you combine them thats where you get that one plus one equals five. In This Episode, You Will Learn: How to start from the bottom and work your way to the top. And it was fun to write. Ken Rex McElroy (June 1, 1934 - July 10, 1981) was a resident of Skidmore, Nodaway County, Missouri. And so, we were walking through, we were just grabbing stuff and going into the green room, getting ready to speak, and Im sitting there looking at all the stuff, and I go to Robert. It was Robert. Ken is the author of the best selling books The ABC's of Real Estate Investing, The Advanced Guide to Real Estate Investing and The ABC's of Property. Its got a $20 million value-add, we got to put this much in it, and Ive already got a debt quote. You would say, In. Now, there are a zillion things that I have to prove out but a lot of people dont realize that investors are sitting on a bunch of money typically in their bank account and/or theyre making a bunch of money and their companies are kicking off a bunch of money. And Ill tell you, really, you want some purpose. So, the both of us, by this time, the properties that we had owned were quite a bit and they were kicking off lots of cash. Ken McElroy on the Art of Entrepreneurship. His name is Ken McElroy and he is the CEO of MC Companies, a real estate company that today holds over $1 billion in real estate investments. I jumped in my car and I drove up. . I can do this. And so, thats one of my philosophies. Associated persons: Joseph J Knouse . Obviously, its not perfect. Investor, Entrepreneur, Best-selling Author, Rich Dad Real Estate Advisor. You jump to a $9 million purchase price. But when I did, I coveted it and it was a fair deal. First time Ive been on stage and hes like, Tell them what you do, and he walked off. The speakers also emphasized the importance of changing one's . Were a very giving company. I mean, these are people that had a huge impact whether they know it or not. 2000 - Present23 years. And so, reading your book, I was like, Man, this is possible. I've been listening to "The ABC's of Real Estate Investing" by Ken McElroy. Table of Contents. Even though he didnt invest, the lesson from him was invaluable because youre asking all the wrong questions, youre doing all the wrong things, youre looking at all the wrong things and you have all the wrong assumptions, and you think you do but you dont. The Advanced Guide to Real Estate Investing - Ken McElroy 2013 If you're interested in real estate investing, you may have noticed the lack of coverage it gets in mainstream financial media, while stocks, bonds, and mutual funds are consistently touted as the safest and most profitable ways to invest. Ken McElroy has an estimated net worth of $20 million. Navy during the Korean War. Lets try to scale it. And so, that happened and then I joined EO. I bring my kids and all that kind of stuff. 2,148 Followers, 954 Following, 524 Posts - See Instagram photos and videos from Danielle McElroy (@daniellemmcelroy) Also known as: Danielle M Cantwell, Danielle M Mcelny, Danielle Cantwell . Get 59 Ken McElroy coupon codes and promo codes at CouponBirds. Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of senior level experience in multifamily asset and property management, development. The process behind transitioning into investing and landlording. So, Im coming out with the new revised version next year but that book has been great, tried and true. So, at a certain point in your life, like theres this whole idea around scarcity of money and when you dont have any, its very scarce but its truly an abundant resource. And the industry is very, very interesting and its a lot more collaborative than people might think. As my friend says, Way leads the way leads the way. Its just things connect as you get into motion. Day 2-8. I didnt even know he was going to talk to me. Sure. And I remember my son, my older son, coming over here in about an hour, I said, So, what was your takeaway from the whole week of that week and the climb in the mountain, which took another two weeks? He said, I cant believe how happy these people are and how little they had. And I was like, All right, good for you. Because when youre around that stuff and you immerse yourself in that stuff, you start to realize how lucky, how grateful actually we really are. 3. Well, thank you for sharing that and for your time. How did I not know about this? And so, Ross and I fund the majority but then our vendors fund, and our employees get an opportunity to fund too and they actually can write their own grants to their own charities. I was scared to death, it was all my savings, and it was cash-flowing just north of $100 a month: thats if it was full. Investing Calculators Ken McElroy 2020-09-29 Many Americans dream of financial freedom, but they're stuck in dead- . And so, now I love it because Ive come full circle. Your time, your treasures in these spaces for the right reasons and its amazing the fun synergies and connections you can have with other like-minded philanthropists that value this in their life and in their business. Day 1. And now weve acquired a little over $3 billion in assets. Advice for people interested in investing in real estate. Having purchased over $400 million in real estate in the past two years, Ken brings a unique property management perspective when estimating a property's potential value. I would bring them on a lot of those trips. Take advantage of my community forum, where you can connect with people just like you. But thats kind of a wrestler I was too is I might have been the strongest and fastest, but there was nobody that was going to outwork me. Get & Download PDF Who ABCs of Real Real Invest - Ken McElroy Free, Update the latest option with high-quality. Today, Ken is committed to helping as many people as possible to achieve financial freedom through real . And if you guys know anybody that is interested, let me know. And so, I got a referral. Watermark-Free Sample Forms Justin Donald: Oh, its so cool. Ken McElroy, The ABCs of Real Estate . This is your ultimate guide to investing in rental properties, whether you have a hundred dollars in the bank or a hundred thousand. old pros as well as novice investors, this friendly, straightforward guide walks readers step by step through every stage of property analysis. I was laughing the other day because I started as a paperboy when I was 14. So, for example, lets just use Robert. Im having fun. I actually just need to go find the deals. And so, I said, This is kind of cool. Honestly, it was an incredible experience. And I, of course, because I make a lot of money on my real estate, I dont even know why Im speaking. That was my first job. 28:05 - Advice for a 20-year-old self. Ken McElroy: Tell the truth, be authentic, be transparent and it will work out. A major factor in Ken's real estate success is his brand, MC Companies. To learn more about the ins and outs of real estate investing, take a look at my book The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss. Bob Boze Bell True West Magazine, Bio, Wiki, Age, Salary, and Net Worth, Sarah Carey Chef, Bio, Wiki, Age, Wife, Partner, Recipe, And Net Worth, Copyright 2023 | WordPress Theme by MH Themes, List of States in the US, Alphabetical list of States in the U.S., and Abbreviation of States in United States. And so, obviously, when something like that happens you have to evaluate things. It was all my savings and I used it and it was cash-flowing I want to say just north of 100 a month, thats if it was full. Robert Kiyosaki and Ken McElroy discuss the current state of the real estate market, including the impact of rising interest rates and the importance of understanding debt and market cycles. Im actually revising it right now because its a bit dated, just on some rents and things like that, as you would imagine from over the years. I dont know if its ever intentional but quite simply I didnt grow up with a lot and my parents were amazing but we couldnt afford college for me, for sure. So, I go up on stage. The seniors didnt want to walk up the stairs. The money like you have a good deal, trust me, money is the easiest thing to come by, even when you dont have it. Find many great new & used options and get the best deals for RICH DAD'S ADVISORS: THE ABC'S OF REAL ESTATE INVESTING: By Ken Mcelroy *VG+* at the best online prices at eBay! I tell you what, my partner just laughs. Check out my Channel on Youtube that was created to inspire you to grow your mind and money and ultimately live your best life. And if the deal is good enough, the money will show up. And thats the truth. He called and said, Listen, Ive got only a year to live, and he got diagnosed with cancer. Get Your Copy Analyze Deals Like a Professional Investor 2) Identify the Demand and Supply. Price: US $99.99. Its in a 55-age restricted community. So, I start with a two-bedroom, two-bath using my own money. It was not the phenomenon that it is today. Robert Helms, one of the hosts of The Real Estate Guys Radio, personally knows him as his attorney. We have five core values and one of them is be giving. Photos not available for this variation. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. . Sorry. So, thats how it started and then I started traveling with them because I wanted to learn how to speak better. And so, I just kind of hung my hat on that and said this lifestyle living, it wasnt an assisted care, congregate care, or lifestyle living. Is that right? I always tell people because when I first started, it took me a long time to get into real estate. I was taught the same as everybody else. Were you overpaying? The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. Well, I think what happened in the beginning, I was a check writer like a lot of people, and I did it for tax reasons and it wasnt really meaningful. In addition, he is the author of The Sleeping Giant and The ABCs of Real Estate Investing. And this is the only place where Im guaranteed to answer your questions and look over your deals. Justin Donald: Yeah, thats incredible. Watermark-Free Sample Forms Justin Donald: Yeah. Designed to guide every rookie from goal-setting to goal-realization in record time, this step-by-step guide will help you become a real estate investor within 90 days. Im like, Oh my God, I need to go up at least apologize. I walk in and theres like 400 people in the room and its a full seminar with all this stuff going on the walls and theres stages and he sees me come in and hes like, Kenny, come on up. He doesnt care that I wasnt there the first two days because they have, obviously, enough going on. You know, theres all these people wanting all this information, and all of a sudden I had some more investors. He is also a contributor for The Real Book of Real Estate. I just go when I can, around my family: I put my family first. Here is a list of the top 18 real estate books to read in 2023. And then the broker started to take a look. I mean, just go google it. And you know, in the last five years, we hired a full-time director of philanthropy. And I end up raising money through my attorney at the time and his buddies. Tony Robbins. And so, for me, I was already headed down that track but then it just solidified all of it. In addition, he co-hosts a weekly business podcast, Real Estate Strategies with Danille. More Information. McElroy stands at the height of 5 ft 7 in (Approx 1.74 m). And so, the interesting thing is when I finally started meeting successful people and I would say, Hey, how can I meet more people like you? Awesome, Justin. Coupons are always real-time. Today, Ken is committed to helping as many people as possible to achieve financial freedom through real estate. Ive never heard him speak so highly of anyone before. The key is investing only where it makes sense and . He's a regular guest on popular podcasts such as The Real Estate Guys Radio, The Lifetime Cashflow through Real Estate, and The Ken McElroy Podcast. He also hosts real estate training programs and has written six books, including The ABCs of Real Estate Investing. He hosts the podcast Real Estate Strategies with Ken McElroy. In his podcast, he shares his personal experiences and the strategies hes implemented throughout his career. And thats how I got on the other side and I started doing that in the late 90s and I never looked back. And all these booths trying to sell stuff around real estate, some were down in the Caribbean, some were passport issue stuff, and some were in Mexico, and some were local. You can also help by providing an honest rating & review over on Apple Podcasts. How Ken developed an unexpected friendship with Robert Kiyosaki. Ken is passionate about educating others so that they too can experience financial freedom through real estate investing. And well catch you next week. What a mindset shift. And then when I read Cashflow Quadrant, I was like just totally blown away. We need these changes to our zoning code to support better development patterns that incentivize affordable and sustainable housing. So thats what I did. Thats probably the best place you can look on there. The whole thing was awesome. He pursued and matriculated with a bachelors degree in Business Administration and Management General in 1990. In addition to all of that, Ken is the author of the best-selling booksThe ABCs of Real Estate Investing,The Advanced Guide to Real Estate Investing,The ABCs of Property Management, and most recently his book on entrepreneurship, The Sleeping Giant. Ken has ranked on the list of those famous people who were born on June 1, 1934.Ken McElroy is one of the Richest Criminal who was born in United States.Ken McElroy also has a position among the list of Most popular Criminal. And I told him that I had to get running because we had our interview and he goes, Oh yeah, I know him, and hes from the Seattle area. Since then, Ken has experienced great success in the real estate world from investment analysis and property management to acquisitions and property development. Ask Ken Questions So, we gave out, gosh, we were giving out $5,000 and $10,000 grants to families during that out of our foundation to our own people. In the 90s too. Also, he offers advice on finance, budgeting, the entrepreneur mindset, and creating passive income. And one day I was like Im on the wrong side of the desk here. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ken has held many board positions with the Arizona Multi-Housing Association with the most recent as past Chairman of the Board. And I spoke with someone else earlier that also knew you. The old code will just perpetuate the development patterns we have. So, I started small and made small mistakes but I was in the property management business, so I actually was pretty good at keeping it full and managing it and all that. And then shes like, Youre going to get swamped, because all I did was talk about what I was working on. So, that kind of got us through that period of time. And one of my mentors when I was off base with somebody, she said to me, Well, one of you is out of exchange. Im kind of like, Oh, thats a very interesting way to put it. And it was true. Summary. She was born June 14, 1944. . And so, thats when I started to be more intentional. Key Takeaways with Ken McElroy. Justin Donald: Ken, that is incredible, and I love that you were able to use your foundation to support your own team and staff in a time of need and of crisis. Where can we find you? Ive now written six books. I mean, in many senses, you guys travel almost everywhere together, which is so cool to see, and you both speak so highly of the other person. What type of investor are you? Now, theyre all podcasts and things like that. The book's compelling stories and lessons show why real estate is . Ken got his start during college, when he took a job managing an apartment complex. To date, he has acquired and sold in excess of $1 billion in commercial real estate. Fueled by that determination, Ken bought his first investment property not long afterwards. And I know youve experienced that as well. That is what youll see. And one of the things that I learned from hospice was that there are as they measure them at the end of life are peoples top regrets. Through his profession, he has attained a decent fortune. And so, I had a wrestling scholarship, thankfully, and I got in that way. With multiple units, the property value is based on the current cash flow of the property.". And then so that started from a physical standpoint. You know, its really funny because your reputation really precedes you on a few different levels. Justin Donald: So, what was the first property that you bought? In fact, he spent 8 years managing properties before he would own any of his own. If you can find a good deal, the money will always follow. Where to find Ken McElroy: Website | YouTube | Twitter | Facebook, I started with a two bedroom, two bathroom using my own money like a lot of people, thats how you start. You guys have been friends for a long time. comprehensive coverage of real estate concepts as well as a detailed overview of the industry. Its kind of fun. It just didnt matter. And so, I had flip-flops on, shorts, and a t-shirt. Virtual Happy Hour with Ken Ken McElroy: Yeah. We do videos and blogs and newsletters and all that kind of stuff to kind of support people that are trying to figure out things in the real estate community. And so, I wanted the money of the book, the profits, to go towards charitable organizations. Ken McElroy: Yeah. Ken McElroy, author of "ABCs of Real Estate Investing" says, "The inflation rate was 9.1% in June, it's 7% now. Play Audio. Overcoming the limiting belief that you need money in order to make a deal happen. Instead of a lifetime cumulative average value, we only show the most recent ratings from users in the past 30 days or the newest 10 . Connect with the Guest: Website:https . Mc Companies is a longstanding real estate investment company based in Arizona. Ross [McCallister, Kens business partner] and I fund the majority, but then our vendors fund [some], and our employees get an opportunity to fund too. I had no idea. He also was prominent in organizing the Pueblo Businessmen's association, and was regarded here as a real business leader. And the way that worked back then was that you got whatever you collected over a certain amount. Im like, Oh my gosh. And that was right before lunch and I remember Kim came up to kind of handle me a little bit because I was just like, What am I doing here? And I was completely not dressed very well, either. Otherwise, youre not going to go. And bless their hearts, they wanted to help so much, and even inside the first semester, they did what they could to like be supportive and theyre just incredible parents. Associated persons: John N Mcelroy, Karen S Mcelroy . Not only is he a bestselling author and internationally recognized speaker, but hes the real estate advisor to Robert Kiyosaki of The Rich Dad Company. Ken McElroy: Thanks. I think the things probably worth 50 now or something. I teach this seminar and its in Cave Creek, Arizona. Im like, Okay. Ken McElroy: Yeah. Its 182 units. Your book, The ABCs of Buying Rental Property, was the third book I read in the Rich Dad Poor Dad series. What you do need is a strong work ethic, solid relationships, and a willingness to put yourself out there! In the beginning, Justin, I was going out and saying, Hey, if I find a good deal, would you invest? And the answer was always, Yes, of course, but then when the time came, they were nowhere. I love that youre doing this with your kids and that this is a family value for you. . Im the guy that gets the call and says, Hey, heres a property.
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