22:37. He owns over 10,000 units in Manhattan. Ken was hooked. 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 real potential Show you how to unlock the myths that are holding you back Negotiating the deal based on the numbers Evaluate Danielle F Bednarski, Danielle Frances Knouse, Danielle Francis Mcelroy. Robert had me on stage. 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. 2000 - Present23 years. That is what youll see. Take advantage of my community forum, where you can connect with people just like you. Well, the best way is KenMcElroy.com and on there, youre going to find all kinds of stuff. Investing Calculators 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. What is it? I had no idea he did seminars or anything and hes like, Yeah. Justin Donald: Oh, its so cool. 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 speakers also emphasized the importance of changing one's . Justin Donald: I love it. I mean, these are people that had a huge impact whether they know it or not. If you can find a good deal, the money will always follow. He is the owner of MC Companies in Scottdale since 2000. Like, that to me is something to pay attention to. And you look at the table and its like a bound book. 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. Media. With multiple units, the property value is based on the current cash flow of the property.". 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 . 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. But moreover than that, there are so many people that dont even have basic human rights and human freedoms. 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. And if the deal is good enough, the money will show up. And thats the truth. You know, we used to be called YEO at the time, which is Entrepreneurs Organization. I know you talked about it a little bit, and Id love to give you a chance to share because one of the things for me thats so important with my book with The Lifestyle Investor, I really wanted to not only educate people on how to be financially free to create financial freedom so there are opportunities to impact mindset where people can take not only that but shift the behavior and have the tangible, practical application to be able to do it. Justin Donald: So, what was the first property that you bought? And if you guys know anybody that is interested, let me know. And so, I got a referral. So, I wish I would have gotten that early of a start but you got to run it while youre in college. 7-13 Jun 2023. And I end up raising money through my attorney at the time and his buddies. in ZEBULON, GA on realtor.com, your source for top rated real estate professionals. And I feel like thats exactly what you guys have had. So, I didnt have a lot of mentors in investing or entrepreneurship or anything like that. I believe that you had to have a bunch of money in the bank. "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 Lets try to scale it. And so, that happened and then I joined EO. And I know youve experienced that as well. 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. Your book, The ABCs of Buying Rental Property, was the third book I read in the Rich Dad Poor Dad series. Ken McElroy: I appreciate it. With real estate's relatively predictable cash flow, I believe it's still a sensible way to invest for the long term. Its in Sun City, Arizona, and I bought it for $9 million and I didnt know how I was going to do it with $2 million down and $7 million in debt roughly. How did I not know about this? And so, thats one of my philosophies. THANK YOU! I met with him the next day and, of course, I made that the topic like you would. Ken McElroy 2020-09-29 Many Americans dream of financial freedom, but they're stuck in dead- . 15170 N. Hayden Rd., Suite 1 Scottsdale, Arizona 85260. Just always try to be an exchange of equal value. Today, Im speaking with Ken McElroy, who went from a broke college student managing an apartment building to becoming a business mogul who has transacted over $1 billion in real estate. Real estate expert Ken McElroy shares his knowledge through books, courses, YouTube, and a podcast. And then the broker started to take a look. Its great to see you again. I always felt very sorry for her. Presumed owner of the real estate located at 13201 N 69th St, Scottsdale. This channel is a place for . Thats right. Although Trena rode with McElroy at the end, she was victimized by him at age 12. These are timeless principles that anyone can use to pick out high-performing investments that produce passive cash flow streams reliably and immediately. McElroy stands at the height of 5 ft 7 in (Approx 1.74 m). I actually just need to go find the deals. Trena McElroy, center, is led to a car with her stepson Ken McElroy Jr. . One of these women was 24-year-old. . So, with Robert and I, as you know, I kind of skipped over the whole books and all that kind of stuff because its a significant piece but its really my kind of give-back education piece is writing all the books. So, the two of us together, were still together and hes an incredible friend. We . Associated persons: Joseph J Knouse . I wanted to learn how to articulate from stage and I wanted to see the world. TheABCs of Property Management: What You Need to Know to Maximize Your Money Now. He shares his insights and experiences on his podcast, Real Estate Strategies with Ken McElroy, and on his wildly popular YouTube channel. Commercial-Free YouTube Videos Ive got to assume you didnt have this yourself. Please note that some processing of your personal data may not require your consent, but you have a right to object to such processing. In addition, he is the author of The Sleeping Giant and The ABCs of Real Estate Investing. I didnt even know he was going to talk to me. Its really an incredible thing that theyre doing and it gives me so much joy to see the impact that this focused energy and really just the book itself has been able to create. Our turnover was almost nothing. 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. 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. Navy during the Korean War. Get & Download PDF Who ABCs of Real Real Invest - Ken McElroy Free, Update the latest option with high-quality. And so, all the profits of Lifestyle Investor have gone to an organization. You did this with Robert. More Information. It was Tom Wheelwright. And, boy, did I have an education at that place. So, they set a certain number and then you got kind of that over. He was a real estate attorney, still my attorney, by the way, and an incredible friend. Whether you want to write your own deals, learn to syndicate, or be a passive investor, my Real Estate Investing Master Course is made for you. It was a senior and it still is a senior property. Youre super close. Ken McElroy on the Art of Entrepreneurship. And so, its really interesting seeing this world kind of just come together here. They are: On April 13, 2015, McElroy launched his YouTube account. And then for about a year, they passed on everything. The key is investing only where it makes sense and . And so, the lessons of life theyre everywhere as you navigate things and you start to open your mind and see things for what they really are. I included another book by Ken McElroy, . Ken decided that one day he would be on the other side of the desk, picking up his own check. So, theyre just frothing for guys like us that can bring them something that provides cash flow tax-free. Ken McElroy: Yeah. 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. And Ill tell you, really, you want some purpose. Price: US $99.99. Free shipping for many products! 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. 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. Youve got to come up with $2 million. But how did you guys meet and how did you broker this relationship? So, we had very low turnover. It was just a number of different people, Stephen Covey, and I mean just you name it, Napoleon Hill. Premium Articles But weve been to Russia, Asia, Australia multiple times, Europe, all over Europe, all over the US, Canada, Mexico, Spain, you name it, Bolivia. So, that kind of got us through that period of time. Justin Donald: Well, Ken, Im so excited to have you on the show. 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. Its in a 55-age restricted community. And when I was young, I was like, I dont want to do that. I wasnt asking to like go give time somewhere or go donate somewhere. Try NOW! 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. McElroys net worth is $20 Million. 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. Day 9. You guys have been friends for a long time. You know, its really funny because your reputation really precedes you on a few different levels. I lived in Lincoln Park and I would walk by these 3 flats and 4 flats, and I just wanted to buy one so bad. But his determination to learn and ability to surround himself with the right people eventually paid off. The process behind transitioning into investing and landlording. This is a self-guided course with worksheets and real-life examples. Were you underpaying? Ive just had so much fun getting to know you and learning more about your story. Mc Companies is a longstanding real estate investment company based in Arizona. . 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. And it is for us too, I think, theres a lot that we are very similar on, and I think thats probably why we resonated so well when we finally connected. So, I start with a two-bedroom, two-bath using my own money. And so, I am relationship first and business is actually pretty low on the category for me. He was born in a state in the United States.McElroy is around 55 years old although details regarding the date and year he was born remain unknown.. Ken McElroy Height. 228 talking about this. 53K Followers, 5,726 Following, 1,666 Posts - See Instagram photos and videos from Ken McElroy (@kenmcelroyofficial) He shares his expertise with thousands of people around the world through his immensely popular YouTube channel, and is a sought-after speaker on real estate investing at events around the world. Check out my Channel on Youtube that was created to inspire you to grow your mind and money and ultimately live your best life. . Watermark-Free Sample Forms And so, obviously, when something like that happens you have to evaluate things. . So thats what I did. I read it in one night. Like, was that a fair price? (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 when you have the thing that others want who have money, it is really easy to raise it. old pros as well as novice investors, this friendly, straightforward guide walks readers step by step through every stage of property analysis. Like, maybe their husband or the wife had lost a job or parents or whatever. You have to evaluate your relationships with your people and you just never know when that is. Ask Ken Questions Thats incredible. Ive now written six books. Ken McElroy. Ken McElroy: It is. Real Estate investing seems like an exciting field and for the past month, I have been doing research every day on it. I actually just need to go find the deals. 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. Ive owned and built self-storages and office buildings and condo projects and single-family. And so, I had flip-flops on, shorts, and a t-shirt. Free shipping for many products! 3) Employment, Population, and Location. For over two decades, Ken McElroy has experienced great success in the real estate world through investment analysis, acquisitions, property management, and property development. I jumped in my car and I drove up. Im not getting paid. Find many great new & used options and get the best deals for Rich Dad's Advisors: The ABC's of Real Est- 0446691844, paperback, Ken McElroy at the best online prices at eBay! (The two have very different views, but still good to know) He co-hosts the podcast with Danille and delves into a wide range of topics related to real estate. She lived in Conway, Missouri, and apparently died of cancer. Yeah. The old code will just perpetuate the development patterns we have. The power of putting yourself out thereand how this mindset led Ken to working with Tony Robbins. Ken McElroy 2020-09-29 . Is that right? Management. The turning point came when the property owner dropped by the office to pick up his check for the month. MC Companies has been on the scene for the last 23 years, and it is only growing stronger every year. And then my friend, he started California Closets and he was one of the founders at EO. I actually was pretty good at keeping it full and managing it. And in my EO chapter, there was a guy that knew Robert and I was raising capital. 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. Hes a general contractor. My Inner Circle Membership provides a space for real estate investors to learn, make connections, and get expert advice. 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. And that was a good differentiator because most people wont work that hard. The story of how Ken went from managing an apartment building as a broke college student, to acquiring over $3B in real estate. The book's compelling stories and lessons show why real estate is . And now weve acquired a little over $3 billion in assets. I want to know where the people that are doing the thing that I want to do. Picking up where left off in the bestselling The ABC's of Real Estate Investing, McElroy reveals the next essential lessons and information that no serious investor can afford to miss. Ken McElroy: Tell the truth, be authentic, be transparent and it will work out. And so, we went all over the world together, and now Ive now written six books, I think. Overcoming the limiting belief that you need money in order to make a deal happen. You fill it out. I had a scholarship but didnt pay for everything. 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. What you can expect to see are videos about real estate investing, entrepreneurship, and life lessons I have learned not only from my experiences but also the high caliber mentors and business minds that I am surrounded by. And one of my professors at the school did what you did to a certain degree where he was property manager. 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. Over the course of his life, McElroy was accused of dozens of felonies, including assault, child molestation, statutory rape, arson . But really, my love is multifamily, which is what I primarily do right now. He was born in a state in the United States. On Sunday morning I woke up. And it took me a handful of years to figure out, No, this is holding me back. Upon graduating with his high school diploma, McElroy enrolled at the Pacific Lutheran University School of Business in 1986. So, when you are willing to do it and when you have the resume to back it up or the reputation to back it up, it is much easier to raise money. Justin Donald: Thats incredible. They will show you how to become a successful real estate investor. Find real estate agency McLeRoy Realty Associates,Inc. 1) Find the Market Trend. Thank you for sharing that with us and with our audience. And like a lot of people, thats how you started. His current net worth is around $20 million. . And I, of course, because I make a lot of money on my real estate, I dont even know why Im speaking. And you know, its interesting, my parents werent able to afford my education either. I started small and made small mistakes, but I was in the property management business. You started knocking on doors, calling, and trying to figure out people that had money. Ken McElroy. Add to Playlist. Ken McElroy: Thank you. The whole thing was awesome. Holy cow. Save $60 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. 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 I love that youre doing this with your kids and that this is a family value for you. Ken McElroy: Yeah, its true. Premium Videos & Mini-Courses Mc Companies is a longstanding real estate investment company based in Arizona. McElroy helps as many people as possible to achieve financial freedom through real estate. What a mindset shift. And then when I read Cashflow Quadrant, I was like just totally blown away. What was the market for that? Rich Dad's Advisors: The ABC's of Property Management - Ken McElroy 2008-09-12 Ken McElroy on Building a Billion Dollar Real Estate Empire EP 61, In property management, I was creating all this value for other people. I would bring them on a lot of those trips. I've been watching countless, super helpful videos on Youtube by Graham Stephan and more. Its kind of fun. The story of how Ken went from managing an apartment building as a broke college student, to acquiring over $3B in real estate. Ken has gone on to experience great success in the world of real estate. And so, like you have your book, right? You know, its funny because I just recently did a podcast with Tom Wheelwright, and he spoke at our conference that we just had for The Lifestyle Investor Mastermind and private clients. Were you overpaying? He serves as the host of a weekly business podcast, Real Estate Strategies. And well catch you next week. Watermark-Free Sample Forms 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. Were making money. Honestly, it was an incredible experience. 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. Key Takeaways with Ken McElroy. And hes a little bit older than me and has a little more experience, too. And so, I had a wrestling scholarship, thankfully, and I got in that way. Reviewed in Canada . "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 . Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. 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. 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. I learned today that Trena McElroy, Ken McElroy's former wife, died on January 28, 2012. And it was fun to write. 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. Monthly Webinar Theyre donating their time, donating their resources, theyre starting them themselves, theyre sitting on the boards of them.. Also, he shares his expertise with thousands of people through his immensely popular YouTube channel. We had a good time in Dallas, thats for sure. So, its quite a few charities because we have 250 employees. Play Audio. Were a very giving company. And so, sometimes its friends first and then I do business with them but other times its doing business with them and then we become friends, and its just such a rewarding relationship. Justin Donald: You know, its interesting. Ended: Apr 24, 2023 , 6:11PM. Ken Rex McElroy (June 1, 1934 - July 10, 1981) was a resident of Skidmore, Nodaway County, Missouri. . What type of investor are you? You raise the first floor and theres a bunch of other things that we did but we ended up filling it up. 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? 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? Premium Newsletter I believe that you had to have a bunch of money in the bank. Thank you. People do not move when theyre seniors. But its a lot, and the employees can write their own grants, and they go through a board and all that, and they get the grants to whatever charity makes them happy. Investing Calculators . I was like, well, the good thing when youre young is that you dont know any better, and I didnt know any better. 40.3K Followers. Justin Donald: Yeah. In his podcast, he shares his personal experiences and the strategies hes implemented throughout his career. 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. 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. 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.. I didnt know anyone when I was young that was a business owner that invested as a profession. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. I know like, well, I climbed Kilimanjaro twice with my kids. Back then we didnt have the internet and trying to figure out people that had money. In addition, he co-hosts a weekly business podcast, Real Estate Strategies with Danille. Justin Donald: Oh, I love it. 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. In a lot of ways, he was probably my first real estate mentor but I didnt get a lot of face time with him because he was so busy. You know, theyre like, Oh, this guy is like buying buildings now, and then the debt guys show up. Were having fun, were making money for our investors and ourselves, and our employees are having a good time enjoying all of it. 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. He is a man of average stature. You can also help by providing an honest rating & review over on Apple Podcasts. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. 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 bought it over 20 years ago. 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.
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