211: Ken McElroy | Debt Mindset
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 22 October 2018
⏱️ 44 minutes
🧾️ Download transcript
Summary
#211: Learn from Rich Dad Real Estate Advisor Ken McElroy.
We discuss debt mindset, cash flow, how to manage your team, how to vet property managers and contractors, screen tenants, how to avoid bad partnerships.
Ken owns $1 Billion worth of apartments.
He needs to place $70M-$80M worth of cash soon, and trade $300M of real estate the next three months.
Don’t say: “I can’t afford it.” Ask: “How can I afford it?”
Your financial income will never exceed your self-concept.
Overcoming your aversion to debt leads to wealth.
Cash flow vs. capital gains investing discussed.
See Ken’s instructional videos at kenmcelroy.com/videos.
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Want more wealth?
1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book
2) Actionable turnkey real estate investing opportunity: GREturnkey.com
3) Read my best-selling paperback: getbook.at/7moneymyths
__________________
Listen to this week’s show and learn:
03:55 Mindset and self-concept.
09:05 Debt.
13:20 Cash flow vs. capital gains.
20:20 Paying taxes.
25:45 Partnerships: business, contractors, tenants, PMs, employees.
29:50 How to vet a Property Manager.
32:45 Vetting contractors.
37:52 Screening tenants.
39:40 Ken’s instructional videos at kenmcelroy.com/videos.
Resources mentioned:
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Turnkey RE: NoradaRealEstate.com
QRP: TotalControlFinancial.com
Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host, Keith Weinhold. Enjoy my chat with one of the most influential real estate investors and educators in history. |
| 0:10.9 | He leads a company that owns $1 billion with a B, dollars in apartments. It's the incomparable Ken McElroy today on Get Rich Education. |
| 0:22.2 | MC Laubcher is the host of the Cashflow Ninja podcast and president of producers' wealth. |
| 0:27.7 | He is on a mission to help you achieve financial independence and freedom as soon as possible. |
| 0:33.8 | He achieves this by integrating the infinite banking concept with real estate investments |
| 0:38.4 | to increase your returns and recapture cash flow that you are not even aware of that you're losing. |
| 0:45.4 | MC shares the number one strategy of investors in his holistic wealth creation course |
| 0:50.2 | at your own banking system.com. |
| 0:57.0 | Finally, total control financial gives you checkbook control of your 401k and IRA money to invest |
| 1:02.8 | in real estate. It's time to get your retirement money into your own checking account, |
| 1:08.4 | but you've got to avoid the little-known tax that you'll pay with |
| 1:11.2 | any self-directed IRA. Instead, it's time for the QRP. Learn more and get your free copy of the |
| 1:18.1 | QRP book by text messaging, QRP in all capital letters to 72,000. |
| 1:32.0 | Get Rich Education is brought to you by Ridge Lending Group, producers, wealth, |
| 1:34.6 | LaRata Real Estate, and Total Control Financial. |
| 1:43.0 | You're listening to the show that has created more passive income for people than nearly any show in the world. |
| 1:48.5 | This is the powerful Get Rich Education. |
| 2:08.5 | Welcome to GRE from Spokane, Washington to Washington Heights, Manhattan in New York City and across 188 nations worldwide. |
| 2:10.0 | I'm Keith Weinhold. |
| 2:15.0 | This is Get Rich Education, and I'm so glad that you're here where you don't follow money. |
| 2:17.4 | You make money, follow you. Bringing it back another week |
| 2:19.0 | because I've got that drive to help you build your wealth. Today's guest, Rich Dad Real Estate |
... |
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