Other People’s Money: The Secret to Buying Real Estate with Nothing
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 28 February 2025
⏱️ 20 minutes
🧾️ Download transcript
Summary
Ken McElroy talks with Robert Helms on this podcast about getting started in real estate even when you have no money of your own to invest. They break down step-by-step strategies to buy property with little to no money down, from seller financing to leveraging other people's money, so you can start building wealth today.
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Visit Ken's Bookstore: https://kenmcelroy.com/bookstore
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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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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.
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Transcript
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| 0:00.0 | Today on our podcast, we have Robert Helms from the real estate guys, and him and Ken had a great conversation on how to get started with either no money or very little money. |
| 0:13.3 | And these are real guys that have done it. And there's some great information. And I hope you guys enjoy. |
| 0:25.4 | So what would be the very first step or step by step for somebody who's first starting out that has nothing? Yeah. First step, two things. Clarity and focus. |
| 0:31.7 | Get clear on exactly what a good deal looks like to you and then start looking for it. People say |
| 0:37.2 | that those deals don't exist |
| 0:38.4 | until they start looking for them and then it seems like they're everywhere. So that's first. |
| 0:43.2 | Be clear about what you're trying to accomplish and then focus on it. After that, get educated. |
| 0:49.1 | Just like you're doing today, keep getting educated, learn more, get around people that are doing it, not just reading about it and learning about it, |
| 0:57.0 | get around people that are doing it. |
| 0:58.4 | I remember talking to Robert and Kim Kisaki about this. |
| 1:01.2 | When they first started, they lived in Portland, Oregon. |
| 1:03.5 | And Kim said to me, all we wanted was one house that cash flowed $50 a month. |
| 1:08.7 | Right. |
| 1:09.2 | That was it. |
| 1:10.4 | So, you know, that was their first goal. |
| 1:13.4 | Yeah. |
| 1:13.6 | And then they did that. |
| 1:15.1 | And then they found once they got into the network and they started realizing that there's |
| 1:19.6 | people out there that can deliver more of these things than the next year she had two. |
| 1:24.0 | And then after that, they were off to the races. |
| 1:25.7 | Such a good point. |
| 1:26.5 | They say yard by yard it's hard, but inch by inch, it's a cinch. |
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