Mistakes That Investors and Syndicators are Making
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 8 May 2024
⏱️ 47 minutes
🧾️ Download transcript
Summary
Ken McElroy and Danille McElroy discuss the mistakes that real estate investors and syndicators have made during this economic change. They explain the areas that Ken sees and what you can do to avoid these same mistakes.
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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 | Welcome to the Real Estate Strategies podcast. Let's get right into this episode. |
| 0:04.9 | There's a hidden crisis going on in the real estate right now that nobody is talking about. |
| 0:09.5 | This is very, very true. So many of you may know that there's a lot of stuff purchased in the last few years. |
| 0:16.4 | We're going to talk today about how that's starting to unravel, how that's unwinding right now, |
| 0:22.3 | and some of the things that you can do about it and also some of the things that you might want to |
| 0:27.6 | consider if you're looking to invest. So essentially, in the last few years, there's been a lot of |
| 0:34.5 | real estate that was purchased that is not going well. |
| 0:38.2 | A lot of this is in the multifamily, but also in the single family markets. |
| 0:42.5 | So there's some mistakes that these new real estate investors made. |
| 0:46.8 | We want to talk today about what the mistakes were and kind of if you're in that position |
| 0:51.2 | or know somebody that is or you're invested in something that is, |
| 0:55.0 | what you could do about it. |
| 0:56.7 | And I think you've got to start with assumptions. |
| 0:59.2 | So like, let's just pick on Airbnb. |
| 1:03.4 | If you assumed that the Airbnb market was going to be the same next year as it was the past year, that's an assumption. If you assumed that interest |
| 1:14.2 | rates and cap rates were going to stay low in multifamily, that's an assumption. If you assumed |
| 1:20.2 | that people would be coming back to work prior to the, after the pandemic, that's an assumption. So |
| 1:26.8 | that now, obviously, there's a lot of things that have been going on and they'll continue to be. |
| 1:32.7 | This is pretty normal if you're a real estate investor. |
| 1:35.5 | But a lot of the investments, a lot of the deals are based on assumptions. |
| 1:41.1 | And including single family, you know, duplexes, you know, we're all over the map here, |
| 1:46.4 | including malls and industrial and office retail. Obviously, that's a whole other story with |
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