Americans are spending like there is no tomorrow….Savers really are losers
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 28 November 2023
⏱️ 54 minutes
🧾️ Download transcript
Summary
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Visit Ken's Bookstore: https://kenmcelroy.com/books
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
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Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this podcast are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this podcast. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites. All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast, where we host in-depth conversations on everything real estate with the industry's biggest movers and shakers. |
| 0:11.2 | I'm your host, Ken McElroy, joined by my co-host, Daniel. |
| 0:15.2 | Let's get right into this episode. Hello and welcome to the Ken Macquarie Show. I'm your host, Anil, here with Ken. |
| 0:56.2 | Hey, what's happening everybody? I hope everyone had an amazing Thanksgiving. We're just still getting back from, you know, back into the routine. |
| 1:01.9 | Yeah, we were in Sedona. At our resort up there. That's so fun. So beautiful. Can you ask, what strategies have you found most successful in generating passive income through real estate? Inc. says off-market deals rule and they provide the most cash flow. Yeah, they can't. They're hard to find. Yeah, right. To be networked, so it's a heck of a heck of an answer, but it's true. Most people are, they just go the easy route, |
| 1:30.3 | but off-market deals are everywhere. Right. Now, where would somebody find an off-market deal? |
| 1:36.6 | Because I know people are thinking that. Oh, yeah. I know. Here's the thing, like every single time, |
| 1:42.8 | like this weekend, I drove through a center that had a target in it |
| 1:49.0 | and it used to have um a big five in there and it used to have a Starbucks in there and it used to have |
| 1:56.1 | all the stuff and now those have slowly died and now there's basically a dollar tree and a target essentially and I look you know |
| 2:04.3 | and so that's off market in my opinion you know so what you have is you have um a number of vacancies |
| 2:10.9 | you know you obviously have a target in there that's carrying the whole center but apparently not enough |
| 2:15.8 | to help the other people. Right. Because |
| 2:18.4 | they've all slowly gone out of business. So those are the kinds of assets you look for. You |
| 2:23.4 | try to solve somebody's problem. It could be 100% vacant. It might even be fully occupied just |
| 2:29.4 | with really low rents and high expenses. So they're everywhere. They're everywhere you go. Well, |
| 2:35.9 | and also, you know, we know people that look for off-market deals and residential by just looking |
| 2:40.6 | for lawns that are deteriorating and houses that are falling apart. And, you know, maybe that person is |
| 2:46.1 | either a landlord that's not taking care of the unit or maybe they're an owner and they can't |
| 2:50.5 | afford to take care of the unit. And then you an owner and they can't afford to take care of the |
| 2:51.4 | unit and then you can offer them a price right well how about the first deal you found which was the |
| 2:57.1 | lady um i think um she inherited the property that was the second one yeah she inherited the property |
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