‘Buy the Cheapest House’ is the Best Real Estate Advice
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 3 October 2024
⏱️ 51 minutes
🧾️ Download transcript
Summary
To learn more about Ken's resort in Sedona, AZ visit their website at: https://visitOrchardCanyon.com
Ken and Danille McElroy dive into the critical aspects of identifying profitable real estate deals in any market, from single-family homes to multifamily properties. They share insights on narrowing down locations, analyzing market growth, and using seemingly small details like bad listing photos to find hidden gems.
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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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Transcript
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| 0:00.0 | So today we're going to be chatting about what Ken and I look for in our deals that we buy. |
| 0:08.1 | They're so different. |
| 0:09.5 | Can multifamily be single family? |
| 0:11.3 | I know. |
| 0:12.1 | I love listening to you because it brings me back to the time I started, right? |
| 0:15.9 | And a lot of people need to go there. |
| 0:17.4 | Sometimes I am too high level and Deidio always pulls me back. |
| 0:21.3 | But it's really fun to watch you look for deals right now. It's been a blast. Yeah, yeah, it is a lot of fun. And I think, |
| 0:26.9 | you know, we get a lot of questions on this, right? Like, should I buy in the Seattle area? Should I |
| 0:32.4 | buy in the Tacoma area? Should I buy in the Phoenix area? And there's such general questions. |
| 0:38.1 | And if people understood what we looked for, then I think it would help them answer |
| 0:42.4 | these questions on their own. |
| 0:43.9 | Yeah. |
| 0:44.3 | And I'd like to first identify those questions because I love when people ask that question. |
| 0:50.3 | You know, it's funny how many of you want me to tell you, like, should I buy in Seattle? |
| 0:56.7 | As if, like, that's a sub, like a neighborhood. |
| 1:00.5 | You know what I mean? |
| 1:01.1 | Like, Seattle's massive. |
| 1:03.0 | So, you know, in my book, the ABCs of Real State Investing, I go into this in quite a bit of detail. But I always believe, and I've |
| 1:15.2 | watched now for 30 years, you can completely mess up a purchase. So everything we're going to tell |
| 1:22.0 | you is exactly how we do it. But you can completely mess all that up with this one thing and that is the market itself |
| 1:30.1 | there are the market either is going is the market is either growing or it's contracting that is |
... |
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