I Tried to Stop Her From Making This Mistake
Ken McElroy Show
Ken McElroy
4.7 • 712 Ratings
🗓️ 28 February 2026
⏱️ 15 minutes
🧾️ Download transcript
Summary
Ken and Danille McElroy often discuss successes on this show, but today they're examining a mistake from one of Danille's current condo sale. This situation highlights the importance of listening to advice in real estate and how seemingly simple decisions can impact your journey to how to build wealth.
• • •
If you're an accredited investor and are interested in learning about opportunities to invest with Ken follow this link: https://mccompaniesinvest.com/knowmore
• • •
Checkout KenPro - Ken's Education Platform: https://ken-mcelroy.learnworlds.com
• • •
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
• • • DISCLAIMERS: Any information or advice available on this podcast is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this podcast. Consult a financial advisor or other wealth management professional before you make investments of any kind. 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. Comments that are off-topic, offensive, or promotional will not be posted. The comments/posts are from members of the public and do not necessarily reflect the views of Ken McElroy and his affiliates.
© 2026 KenMcElroy.com, LLC. All Rights Reserved.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | So we talk about a lot of wins on this show, |
| 0:02.6 | but we rarely talk about mistakes that we've made. |
| 0:05.3 | So I wanted to break down kind of what's going on currently |
| 0:08.8 | with my condo sale. |
| 0:11.0 | This one guy, like this is a classic for all your men out there, |
| 0:14.7 | or not just men, just people that don't feel like some people just don't listen. |
| 0:20.5 | This is a good one. No. Yes, it is. Yes, I go, I don't feel like some people just don't listen. This is a good one. |
| 0:22.0 | No. |
| 0:22.7 | Yes, it is. |
| 0:23.9 | Yes, I go, I don't think you should do that. |
| 0:26.9 | So this is what happened. |
| 0:28.5 | And it's going to work out, but this is what happened. |
| 0:30.3 | So I've learned a lot. |
| 0:31.2 | We'll see. |
| 0:31.6 | I am currently selling my condo off market to somebody that I know somebody that they know, right? So basically |
| 0:43.5 | like the other realtor, I know her very well, and this is someone that is related to her. |
| 0:48.6 | And so they wanted to buy it. I gave him a good deal because it's off market. I don't have to |
| 0:53.0 | mess with it. I literally, you know, I want a 1031. Right. So he's getting a traditional loan. We're two weeks |
| 0:59.7 | in. I go find another place. Let's explain what a 1031 is because I think that's what. 1031 means |
| 1:06.2 | that she could take all the proceeds and invest it in something else without paying tax. tax has to be at or more what she's |
| 1:14.5 | selling for. So, and by the way, this is a strategy that for those of you may know what that is, |
| 1:20.8 | but I just figured it's worth mentioning. So, so Danielle is trying to avoid tax. And therefore, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Ken McElroy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Ken McElroy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.