329: Ken McElroy - What Real Estate Investors Must Know Today
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 25 January 2021
⏱️ 41 minutes
🧾️ Download transcript
Summary
Joe Biden’s economic plan for real estate investors is detailed.
Expect: higher income tax, extended eviction & foreclosure moratoriums, $15 minimum wage, $15K first-time homebuyer tax credit, more stimulus checks.
Can landlords still evict tenants for non-payment of rent? Yes. I explain how.
With all this money printing, I expect inflation to stay low due to low velocity.
Ken McElroy joins me again today. He’s the Rich Dad real estate advisor.
Migration patterns per U-Haul favor these top 5 states: TN, TX, FL, OH, AZ. #1 for out-migration last year was CA.
72% of people move within the same state, per Ken.
Today’s tenant trends: Larger units, security gates, pets, outdoor lighting, small yards, remote rent collection. Proximity to central business districts is less important. Pets attract seniors.
Ken has increased income by embracing pets, and reduced expenses by requiring that tenants have Renters Insurance.
Learn about how he handled recessionary apartment income disruptions for his investors.
Resources mentioned:
See Ken McElroy’s predictions video:
www.KenMcElroy.com/GetRichEducation
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Winehol. What do continued eviction moratoriums really mean to real estate investors? I'm going to go deeper on that topic. Then we're talking about larger apartment buildings with Rich Dad Real Estate Advisor Ken McElroy. What are the things that tenants are demanding now that they were barely asking about just one year ago. It's about understanding the market and people |
| 0:22.5 | that real estate investors are serving in today's times on get rich education. |
| 0:28.0 | Hey, is your IRA in a real estate syndication? Yikes, a 37% Ubit tax could hit you, but you still |
| 0:34.6 | have a chance to set up your EQRP and avoid this. |
| 0:38.0 | Did you make too much money in 2020 and need more deductions? |
| 0:41.1 | Now federal law lets you set up an EQRP in 2021 and get deductions for last year. |
| 0:47.3 | Yeah, retroactively. |
| 0:48.8 | Even put old IRA and 401K money in Bitcoin, gold, or your own business. |
| 0:53.3 | Get control of all of your retirement money, |
| 0:55.5 | tax and penalty-free. Text EQRP in all-capital letters to $72,000. |
| 1:03.6 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:10.9 | This is Get Rich Education. |
| 1:26.4 | Welcome to GRE from Bedford, Pennsylvania to Medford, Oregon. |
| 1:30.6 | Across 188 nations worldwide, I'm Keith Weinhold. |
| 1:34.3 | This is get rich education. |
| 1:37.0 | Hmm, what moves more slowly? |
| 1:40.6 | A glacier or a coronavirus stimulus bill. |
| 1:44.6 | I don't know. |
| 1:46.5 | But with the Bidens placing their furniture in the White House and their party control in Congress, |
| 1:52.7 | a lot of people think that stimulus and relief is going to be delivered faster now. |
| 1:58.4 | I'm really sorry to share something with you here because I don't want this to be true either, |
| 2:04.7 | but based on what I read, we might not have a good handle on the pandemic until 2022. Well, |
... |
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