25: Ken McElroy | Rich Dad Advisor for Real Estate | Real Estate Strategies with Ken McElroy
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 3 April 2015
⏱️ 38 minutes
🧾️ Download transcript
Summary
#25: There aren’t many famous real estate investors. There’s Barbara Corcoran, Donald Trump, Ted Turner, and today’s guest…Ken McElroy.
Listen to this week’s show and learn:
02:00 Keith cannot think of a greater contributor to real estate investing education this generation than Ken McElroy.
04:04 Last month, Robert Kiyosaki, Ken, and Keith were in the same room when Robert dubbed Ken McElroy “The Greatest Real Estate Investor In The World Today.”
05:08 Ken began in real estate as a Seattle property manager.
08:12 RE agents often don’t own investment real estate and they try to “sell buyers on the future.” Instead, use a Property Manager to find what rents really will be.
11:30 Buy investment real estate for cash flow rather than capital gains.
13:23 “Real estate is really dumb and it moves slow.” Buy where the jobs are going to be.
15:40 How Ken looks for opportunity in a new purchase.
16:50 When Ken would want to buy a vacant four-plex rather than an occupied one.
20:18 Actionable ways to add value to multifamily properties.
25:30 How large of a property does it take for on-site property management to make sense?
27:47 How Ken beats out other offers for a property that he wants to buy.
31:28 The time and freedom that real estate investing affords Ken’s family.
32:46 The advice that today’s Ken McElroy would provide to a 20-year-old Ken McElroy.
Resources mentioned:
www.KenFlix.com - Online video tutorials from Ken!
Ken McElroy’s top-selling book The ABCs of Real Estate Investing
Robert Kiyosaki’s new book Second Chance
Transcript
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| 0:00.0 | Get Rich Education is brought to you by Audible, more than 150,000 audiobooks to choose from for your mobile device. |
| 0:09.0 | Welcome to Get Rich Education with Keith Winehole, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else and |
| 0:22.8 | can provide you with more wealth and happiness than you ever thought possible. |
| 0:27.5 | Now, here's your host, investor, entrepreneur, business owner and educator, Keith Weinhold. |
| 0:36.7 | Welcome to Get Rich Education Show 25. I'm your host Keith Weinhold. Welcome to Get Rich Education Show 25. |
| 0:39.3 | I'm your host, Keith Weinhold. |
| 0:41.3 | This is the show where we're not into living below your means. |
| 0:47.3 | You've only got one life to live, so why talk about living below your means when you can just as easily |
| 0:53.3 | expand your means and live |
| 0:55.8 | like few others can? |
| 0:58.3 | You know, real estate investing is great at turning everyday people into wealthy people. |
| 1:05.1 | But really, there are only a few famous real estate investors. |
| 1:09.5 | You know, some that come to mind are Shark Tank's Barbara |
| 1:12.9 | Corcoran. You've got Donald Trump, of course. And then there's today's guest, Ritzstead advisor, Ken McElroy. |
| 1:21.7 | Ken is a master syndicator today identifying great residential apartment building opportunities and putting together |
| 1:29.6 | other investors money for the down payment. He knows how to identify real estate investing |
| 1:35.8 | opportunities like few others do, and I've never known him to have a loser, not even one. Ken is disciplined and seemingly everything he touches |
| 1:47.8 | turns to gold. He's got the Midas touch. Well, I'm going to dig inside Ken's brain today and find out |
| 1:55.4 | how you can get the Midas touch too. I cannot think of anyone that's contributed more to real estate investing |
| 2:03.9 | education in this entire generation than Ken McElroy from books to television programs to |
| 2:12.7 | his great online video tutorials at Kenflix.com, which he just launched last year. |
| 2:20.2 | I go to these national and international real estate investor events, and you know what, |
... |
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