Review:The Abc's of Real Estate Investing:Ken McElroy. Realtor.com Real Estate App 502,000+ So, what happened was obviously and we talked about my first building then I bought another one and I have a partner too, Ross McCallister, who we merged our companies as well and that made us stronger. Its, well, untraditional I think like everybody gets into real estate. Come join us for one of our best podcasts ever with Ken McElroy, the author of The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing and The ABCs of Property Management.. He is possibly married as he lives with his family in Scottsdale, Arizona. Ive never heard him speak so highly of anyone before. And what happens is people recognize as you put stuff out there, you put books out there, you put podcasts out there, and all of a sudden one day Tony called, and Robert and Tony have a history too, which I didnt know, a good history of studying together years ago. And it was fun to write. He serves as the host of a weekly business podcast, Real Estate Strategies. You can also help by providing an honest rating & review over on Apple Podcasts. So, he had one little investment out in Arizona that he did for a favor and then I asked him if I could buy it, and he sold it to me and the rest is history. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. 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. If Im going to meet this guy I better go buy his book and read it. So, I went to the store and bought the book. So, I brought them to a bunch of places as my kids were grown up and just kind of made it a family affair. (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. Ken shares his knowledge as the Real Estate Advisor to Robert Kiyosaki of The Rich Dad Company, a Forbes Council Member, with contributions to . Premium Articles And so, Im like, Well, okay. So, then I really got involved and I said, Okay. Awesome, Justin. Real estate expert Ken McElroy shares his knowledge through books, courses, YouTube, and a podcast. Try NOW! We had a good time in Dallas, thats for sure. The murder occurred in broad daylight, with as many as sixty eye-witnesses present . McElroys mother worked as a hairdresser and his father a contractor. @kenmcelroy. And now weve acquired a little over $3 billion in assets. And I was a volunteer. You fill it out. Robert Helms, one of the hosts of The Real Estate Guys Radio, personally knows him as his attorney. People do not move when theyre seniors. The Advanced Guide To Real Estate Investing . So, theyre just frothing for guys like us that can bring them something that provides cash flow tax-free. Youve got to come up with $2 million. You know, it was so fun kind of just hearing your story, learning about your connection with real estate and all the, I mean, youve been in it for years, the deals that youve done with Robert Kiyosaki. 2000 - Present23 years. Sure. The money like you have a good deal, trust me, money is the easiest thing to come by, even when you dont have it. It was not the phenomenon that it is today. "Real Estate Strategies with Ken McElroy" is your weekly meet-up where real estate entrepreneur and CEO Ken McElroy shares his personal experiences and the strategies he's implemented throughout his career, from his first job as an apartment manager to today, having successfully scaled up to over $1 billion in real estate . 2,148 Followers, 954 Following, 524 Posts - See Instagram photos and videos from Danielle McElroy (@daniellemmcelroy) And a lot of times their options are financial planners of the stock market. I was taught the same as everybody else. 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. That was my first job. I put my family first and I would bring them on a lot of those trips. I read it in one night. Essentials of Real Estate Finance can help students pass their exams, assist professionals advising clients, or help buyers understand what finance options are available. Weve been to Russia, Asia, Australia multiple times, all over Europe, all over the US, Canada, Mexico, Spain, you name it. 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. How did I not know about this? Thats incredible. And so, we said, Okay. Ken has always been known as a leading real estate investor, but he is also an educator and strives to give back through his educational books and . Connect with the Guest: Website:https . So, I learned that you not only spoke on stage with him and I believe it was that wealth mastery but I think youre the youngest speaker Tony had ever had. 6) Create Your Investment Checklist. Ken is passionate about educating others so that they too can experience financial freedom through real estate investing. 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. I always tell people because when I first started, it took me a long time to get into real estate. Despite being a renowned Real Estate Investor and Author, McElroy has kept details regarding his marital status confidential. 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. But in a dramatic act of . I'm looking to buy small multifamily and notice that his specialty is large complexes, resorts, mobile home parks, and other large scale commercial properties. I received this book 2 days ago, and I have already finished reading it, there is a wealth of information here, for those of you who are thinking of going into real estate I advise picking up a copy. So, I just go when I can around my family. 00:28:37 - Join Ken as he speaks with Kelly Johnson from his property management company on how he and his team were able to manage properties virtually throug How to manage a property during lockdown - Real Estate Strategies with Ken McElroy () | Listen Notes comprehensive coverage of real estate concepts as well as a detailed overview of the industry. So, they set a certain number and then you got kind of that over. And he turned me onto his buddies and, as you know, the power of the math like once they saw the deal and they start to see the return and they were excited about the senior market because even in the 90s, they were talking about the aging baby boomers. And so, you did this with your attorney. Key Takeaways with Ken McElroy. Youre neighbors now. And so, like you have your book, right? I dont think I underpaid. Its a true story about buying any unit building and how to do it. But Im still the first person in our extended family to actually graduate from college. Ken got his start during college, when he took a job managing an apartment complex . The price for membership is $299.00 per Year. Join Ken McElroy as he answers your questions, regarding real estate, entrepreneurship, and much more! Reviews go a long way in helping us build awareness so that we can impact even more people. Ken McElroy has experienced massive success in the real estate world-from investment analysis and property management to acquisitions and property development. Ken McElroy Age. Life on tour isn't much of a theme in and of itself . They cant keep the same vendors, clients, whoever it is that they use. So, I was hustle and hustle and hustle to get to that point, and I was laughing because theres an analogy between when I was collecting rent and collecting for a $10 newspaper. One of these women was 24-year-old. Ken McElroy: Thank you. 14 Jun 2023. I might not have been the strongest and fastest, but nobody was gonna outwork me. You know, it reminds me when I was younger. The job ignited his entrepreneurial spirit and his turning point came as he was picking up his check. And you look at the table and its like a bound book. McElroy stands at the height of 5 ft 7 in (Approx 1.74 m). Interview with Regan Archibald Unlock the Secrets to Optimal Health & Longevity with Interview with Rob Follows Making Extraordinary Exits Possible with Rob Follows Have you Interview with Gabriel Hamel Using Seller Financing to Build a Real Estate Empire Want A Simple, Proven System For Multiplying Your Wealth AND Replacing Your Job? And we walk up to these two just gorgeous girls with this big, beautiful black and white photo and there are two models standing next to it. Its not for us. And they owned a little 12-unit and some other stuff, and literally, they were on this kind of high with Rich Dad Poor Dad. 40.3K Followers. Add to Playlist. Like, where would I hang out with them? The common theme was that I should get involved in philanthropies. I mean, just go google it. 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. Let me show you how to make the most out of your opportunities. Overcoming the limiting belief that you need money in order to make a deal happen. Ken McElroy: Yeah. For over two decades, Ken McElroy has experienced great success in the real estate world through investment analysis, acquisitions, property management, and property development. McElroys net worth is $20 Million. Ive just had so much fun getting to know you and learning more about your story. And in addition to that, my partner Ross, he had some things happen in his family around cystic fibrosis. Ken lives with his family in Scottsdale, Arizona. He also was prominent in organizing the Pueblo Businessmen's association, and was regarded here as a real business leader. 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. . Through his profession, he has attained a decent fortune. He is probably mulling over a deal right this second. And then thats when I realize theres all these people out there trying to learn. 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. The whole thing was awesome. 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. The ABCs of Real Estate Investing by Ken McElroy - Complete Book Summary. 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. Justin Donald: Now, Ken, youre used to just like doing some property management, youve got a single-family home, maybe youve picked up one or two more at this time but like this is a big move to move from property management on other peoples stuff. About us. 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? Ken McElroy was born in United States on June 1, 1934. But if I called you up right now and I said, Hey, we buy it for this. I was supposed to be there Friday or Saturday, totally forgot. And like a lot of people, thats how you started. Get Your Copy Analyze Deals Like a Professional Investor They will show you how to become a successful real estate investor. Were you overpaying? And so, thats one of my philosophies. 2.22K. ' And youre like, I kind of wasnt prepared for it but it was my first speaking engagement. But then you went on to do a lot of speaking with him and then also with one of my other favorites, Tony Robbins. Building on the foundation of real estate investment 101, McElroy tells readers: . 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 . But his determination to learn and ability to surround himself with the right people eventually paid off. The seniors didnt want to walk up the stairs. Id go there and get there at 5 a.m., help set up, help with registration, whatever I needed to do. I mean, plain as day, I was like, Hey, Im out buying properties and Im looking for capital. Kens Investor Test for Lifestyle Investor listeners, Tom Wheelwright on The Lifestyle Investor, Unlock the Secrets to Optimal Health & Longevity with Regan Archibald EP 131, Making Extraordinary Exits Possible with Rob Follows EP 130, Using Seller Financing to Build a Real Estate Empire with Gabriel Hamel EP 129, Vanessa Peters on Investing in Land Entitlement and Making Big Returns with Vanessa Peters EP 60, Dave Allred on Creating a Life by Design with Real Estate Investing EP 62 , The Secrets to Building a Billion Dollar Real Estate Empire - Justin Donald. . Take advantage of my community forum, where you can connect with people just like you. And you know, its interesting, my parents werent able to afford my education either. As my friend says, Way leads the way leads the way. Its just things connect as you get into motion. They had just sold their business and Rich Dad Poor Dad had just been released. And then the broker started to take a look. 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. Now, this book is a few years old, so, you know, I'm sure some things have changed. I didnt know what I was doing but, thankfully, property management was kind of my ticket for my next eight years. What is it? I had no idea he did seminars or anything and hes like, Yeah. In addition, the podcast contains 284 episodes as of April 19, 2023. 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 want to know where the people that are doing the thing that I want to do. And then when I started to get involved, what happened was a friend of mines son was diagnosed with autism and this is years ago and before autism was this is back in the day when I really didnt have a lot of notoriety. 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. But then I actually had some duplexes, fourplexes, and things like that but then I jumped right up and bought a property that I was managing and I still own it. 6 Jun 2023. But then the next one is a little bit easier and the next one became a little bit easier, and the deal started getting bigger. His career kicked off while in college as he took a job managing an apartment complex. A dedicated educator and a heck of a nice guy, Kenny is a Summit favorite, and we're . Investing Calculators He is the owner of MC Companies in Scottdale since 2000. Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of senior level experience in multifamily asset and property management, development. he has worked as a Real Estate Investor, Author, and Entrepreneur for over 20 years. Together with his real estate investment company, MC Companies, Ken has transacted over $1 billion in real estate. So, I love it that you do that. Commercial-Free YouTube Videos Day 9. And so, were involved in a community. Ken McElroy: Yeah. Justin Donald: Yeah, thats incredible. Im like trying to educate and Im actually trying to figure that all out, too, but at the same token, in the beginning, I was trying to hold my own speaking and try to figure that out and deliver good messaging and all that kind of stuff. Words of wisdom:Ken didnt come from a wealthy family, and it was only when he started finding success with real estate investing that he realized most deals are less mysterious than they seem from the outside. Right now, I own about not quite 1.5 billion. He is the owner of MC Companies in Scottdale since 2000. The murder of Ken Rex McElroy took place in plain view of dozens of residents of this small farm town, under the glare of the morning sun. He is a man of average stature. Just always try to be an exchange of equal value. He actually had an opportunity to buy the apartment complex as a college student and then manage it, which is just. Ken McElroy on the Art of Entrepreneurship. Like, that to me is something to pay attention to. And we had gotten a chance to connect before that but it was cool here in his perspective and his story of you and how you guys met and the whole nine yards. Your book, The ABCs of Buying Rental Property, was the third book I read in the Rich Dad Poor Dad series. 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. Well, the best way is KenMcElroy.com and on there, youre going to find all kinds of stuff. The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. I appreciate your time and being on your channel and I know were going to get you on mine. 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. I was like, Oh, this is pretty good. And so, I was like, Maybe I should do a little bit more, and shes like, Id like you to write a book based on what youve done. Im like, I have no idea how to write a book. So, then I found somebody to help me do that and kind of mumbled through that, and thats how the ABCs of Real Estate Investing came out and then that opened more doors, as you know, to radio shows. In addition, he is the author of The Sleeping Giant and The ABCs of Real Estate Investing. And at the same time, running my business, growing the company, buying assets. Ken McElroy, We said, Lets designate a bunch of money from our properties into these foundations and bring on this director [of philanthropy], which we did. And the issue when I came on was that all the downstairs were full and all the upstairs werent for obvious reasons, right? Also, he shares his expertise with thousands of people through his immensely popular YouTube channel. He called and said, Listen, Ive got only a year to live, and he got diagnosed with cancer. Thanks so much. He has an estimated net worth of $20 Million attained from working as a renowned Real Estate Investor, Author, and Entrepreneur. What began as a way to simply cover his room and board ignited his entrepreneurial spirit. In addition, he co-hosts a weekly business podcast, Real Estate Strategies with Danille. Yeah. Ive got to assume you didnt have this yourself. Monthly Webinar Youve done that. 3) Employment, Population, and Location. On Sunday morning I woke up. I didnt know any better. And so, I wanted the money of the book, the profits, to go towards charitable organizations. And I know youve experienced that as well. In addition to sharing his expertise, Ken also shares his mindset, because building wealth isnt simply about putting money in the right place at the right time. Premium Videos & Mini-Courses Investor, Entrepreneur, Best-selling Author, Rich Dad Real Estate Advisor. He . 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. 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. And when you have the thing that others want who have money, it is really easy to raise it. Well, each kid I brought up, we summited. Obituary daughter ken rex mcelroy. Like, how long have you had investors? I included another book by Ken McElroy, . She lived in Conway, Missouri, and apparently died of cancer. 30:34 - Wrap up. See original listing. Lorem ipsum dolor sit amet, consectetur adipiscing elit. I know like, well, I climbed Kilimanjaro twice with my kids. Ken is a Rich Dad Advisor to Robert Kiyosaki ("Rich . Hes like, That is the book that just keeps on giving. Its been wonderful. McElroy is a famous Real Estate Investor, Author, and Entrepreneur. The book's compelling stories and lessons show why real estate is . And then shes like, Youre going to get swamped, because all I did was talk about what I was working on. Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of senior level experience in multifamily asset and property management, development. What a mindset shift. And then when I read Cashflow Quadrant, I was like just totally blown away. Were making money. Theyre donating their time, donating their resources, theyre starting them themselves, theyre sitting on the boards of them.. 15170 N. Hayden Rd., Suite 1 Scottsdale, Arizona 85260. The ABCs of Real Estate Investing - Ken McElroy 2013-02-28 This book will teach you how to: Achieve wealth and cash flow through real estate Find property with . I bought it over 20 years ago. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. "I only work 90 minutes a week" Ken McElroy Ken McElroy has been successful in real estate investing, which has allowed him to build wealth and create Holy cow. My Inner Circle Membership provides a space for real estate investors to learn, make connections, and get expert advice. Id get up before school and deliver the Seattle Post Intelligencer at like 5 a.m. And I did that every day for a couple of years and I would knock on the door and try to collect the money, you know? 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. Its kind of fun. What you do need is a strong work ethic, solid relationships, and a willingness to put yourself out there! Id love to hear more about that. Youve made a career of being able to have these long-term relationships. I already have my rich uncle. You know, theyre like, Oh, this guy is like buying buildings now, and then the debt guys show up. And then, of course, when I was hanging out with Robert Kiyosaki at the conference we were at, he just spoke so highly of you. 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. 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 so, we went all over the world together, and now Ive now written six books, I think. Yeah. Ken McElroy: Thanks. I bought it over 20 years ago. Ken's an uber-successful entrepreneur, philanthropist, and real estate syndicator with over two decades of experience and nearly a billion dollars of deals on his resume. Im like, Sure. The key is investing only where it makes sense and . But really, my love is multifamily, which is what I primarily do right now. We need these changes to our zoning code to support better development patterns that incentivize affordable and sustainable housing. So, I go up on stage. It was Robert. Justin Donald: Thats incredible. 5) Now Calculate the Exact Value of the Property. Literally, I had to fire the manager and the two assistant managers, and I was there by myself. And so, we found that by having that just by doing something that Ross and I wanted to do, our culture got better, stronger, deeper, and tighter, and we started attracting very, very, very good people because they wanted to be part of something bigger than just making money. Im like, Oh my gosh, I completely blew off Rob. Thank you for sharing that with us and with our audience. 2) Identify the Demand and Supply. File your taxes using a step-by-step process - Build your real estate portfolio The ABCs of Getting Out of Debt - Garrett Sutton 2013-02-28 In difficult times, debt can be a matter of life and death, happiness . What type of investor are you? 4,377 Following. Its so neat to just see how these worlds collide and who knows who and, I mean, one conversation, one relationship in the trajectory of change for the direction of your life, like the gravity of that one intersection is just mind-boggling. Youre super close. It was Tom Wheelwright. 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. Tickets: $20-$24; 713-862-3838, fitzlivemusic.com. Its 182 units. Ken was by no means an overnight success. The process behind transitioning into investing and landlording. 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. Click to enjoy the latest deals and coupons of Ken McElroy and save up to 70% when making purchase at checkout. Ken McElroy: I didnt overpay. 7-13 Jun 2023. I think the things probably worth 50 now or something.