493: How COVID Changed Real Estate Forever (+How it Didn’t!) with Ken McElroy

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 8 August 2021

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s rare to find someone with the experience, knowledge, and downright friendliness of Ken McElroy, which is why we’re having him back on the show! This time, Ken breaks down some of the fundamental truths of real estate investing and how it can help you, as an investor, make more money, reach financial freedom, and live the life you were born to live. Ken has been in the real estate game for decades, starting as a property manager in college, becoming a landlord with a sizable portfolio, then meeting Robert Kiyosaki and working on books, education, and systems with some of the biggest names in real estate. Ken has been through multiple market cycles, dozens of policy changes from the government, and made lots of money on many different types of deals. He has a unique experience that gives him a leg up on much of the new competition. You’ll hear Ken’s thoughts on the “affordability crisis” we may be facing in the coming years, how short-term rentalsare changing the landscape of month-to-month rentals, and how an inexperienced investor can get started with “good debt”. Make no mistake, the lessons Ken talks through in this episode took decades to learn, but you can get them all in just over an hour! In This Episode We Cover: How COVID did (and didn’t) affect the market for real estate investors Leveraging “good debt” so you can build your real estate empire When prices of labor, lumber, and new construction will flatten What the future of the real estate market will look like, and how landlords can benefit Working with the system (government, tax codes, etc.) as opposed to working against it Why great deals will always get funded (especially in today’s market!) And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Calculators BiggerPockets Youtube Channel OpenDoor Capital Brandon and David’s Books Real Estate Rookie Bootcamp BiggerPockets Podcast 052: Buying Apartment Complexes, Raising Millions, and Building a Profitable Business with Ken McElroy Airbnb Get Ken McElroy's free e-book for BiggerPockets listeners Click here to check the full show notes: https://www.biggerpockets.com/show493 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pog its podcast show, 493.
0:04.5	If you can find those places and find those markets that are emerging and be ahead of that
0:09.8	and use this model, you can do very well financially.
0:14.0	It's a little different than the long-term 12-month, let's say, lease.
0:18.2	But there's a whole market coming, I believe, especially on the single-family side.
0:24.0	You're listening to Bigger Pog its radio, simplifying real estate for investors large and small.
0:29.9	If you're here looking to learn about real estate investing, without all the hype, you're in the right place.
0:35.9	Stay tuned and be sure to join the millions of others who have benefited from BiggerPockets.com.
0:41.9	Your home for real estate investing online.
0:44.9	What's going on in my money's Brennan Turner, host of the Bigger Pog its podcast.
0:48.9	Here with my co-host, Mr. David Green, what's up, man? How you doing?
0:53.9	I'm doing great. California is beautiful right now.
0:56.9	The housing market has been so ridiculously hot.
0:59.9	It's been very tough. It's been very tough.
1:01.9	It's been very tough. It's been very tough.
1:03.9	It always stings because you know every time somebody buys a house that if they hold it long enough
1:07.9	especially in a market like this, it's not ridiculous to say that house will make them a millionaire at some point.
1:13.9	And so when you can't help people get that goal, it bugs me.
1:16.9	But it's cooled off a little bit. So we had a really good week. We put like 10 people in contract last week.
1:21.9	So now I'm like a flower that just got water again. I'm all excited.
1:24.9	There you go. That's cool, man.
1:26.9	Well, I do have a question for you. It's actually pretty serious question. How do you feel about golf?
	...

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