52: Buying Apartment Complexes, Raising Millions, and Building a Profitable Business with Ken McElroy

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 9 January 2014

⏱️ 81 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode of the BiggerPockets Podcast, we talk with one of the most influential voices in the real estate investing world today – Ken McElroy. Ken, the author of The ABC’s of Real Estate Investing and several other influential books, shares his story of getting started with nothing and building up a real estate investment company with thousands of units and hundreds of employees. Ken has a lot of great advice and knowledge for people at all stages of their investing careers, and shares it in a fun, entertaining manner. On today’s show we’re going to talk a lot about getting started, raising capital, and investing in large apartment complexes for big wins. Don’t miss a second of this exciting show! Read the transcript for episode 52 with Ken McElroy here. In This Show, We Cover: Getting started with no money – through property management Why should someone invest in multifamily properties? Using other people’s money to invest in real estate Investing at a distance vs. investing locally Determining the best locations and markets to invest in real estate Cash flow vs. appreciation: which is best? Ken’s newest $9 million dollar project Why Ken loves bad landlords How to find amazing apartment complex deals Raising millions of dollars in 20 minutes How to find a great property manager? Should someone start with Apartment Complex Investing? The worst mistake you can make as a real estate investing Links from the Show What is a Cap Rate? (Capitalization Rate) (article about Cap Rates) BiggerPockets Presents: The 21 Best Real Estate Books Ever Books Mentioned in the Show The Art of the Deal by Donald Trump The Best Real Estate Advice I Ever Received by Donald Trump Turning Pro by Steven Pressfield Tribal Leadership: Leveraging Natural Groups to Build a Thriving Organization by Dave Logan The Crash Course: The Unsustainable Future Of Our Economy, Energy, And Environment by Chris Martenson The ABC’s of Real Estate Investing by Ken McElroy The Advanced Guide to Real Estate Investing by Ken McElroy Tweetable Topics The faster you fail, the smarter you get. (Tweet This!) “You don’t need to be an expert at everything.”(Tweet This!) There’s a lot more money out there than deals. (Tweet This!) The best deals are generated from face to face relationships. (Tweet This!) The entire goal of my company is to replace myself. (Tweet This!) Connect with Ken Ken’s Website: KenMcElroy.com Ken’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast, Show 52.
0:04.0	You're listening to Bigger Pockets Radio, simplifying real estate for investors large and small.
0:10.0	If you're here looking to learn about real estate investing without all the hype, you're in the right place.
0:16.0	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:22.0	Your home for real estate investing online.
0:25.2	What's going on everybody?
0:26.2	This is Josh Dorkin, host of the BiggerPockets podcast
0:29.3	here with my man, Brandon Turner.
0:32.7	What up B?
0:33.6	What up, Jay?
0:34.6	How's it going?
0:35.6	It's going all right, man.
0:36.8	It's gone all right.
0:37.8	How's your week been?
0:38.8	You want to tell people what you've been up to?
0:39.8	Laugh at my misfortune? I will laugh at my misfortune.
0:43.6	I will laugh at your misfortune.
0:44.9	People get a kick out of this.
0:46.4	Before I tell you what my week was like, I will tell you that I got a Facebook message
0:52.1	from my brother-in-law who said your new nickname is Murphy.
0:56.7	So I was in Southern California for the past two and a half weeks for holiday with the family.
1:05.1	And, you know, it was cool, man.
	...

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