Prepare For The Biggest Event In The Last Decade
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 28 March 2024
⏱️ 17 minutes
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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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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.
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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. |
| 0:04.4 | Over 35 years of real estate investing, never have I seen such opportunity as we're about |
| 0:10.9 | to see over the next couple of years. I've been looking for this opportunity for over 10 years. |
| 0:17.5 | The real estate market is short about 6 million housing units. What this is going to do, |
| 0:22.2 | it's going to create significant pressure on both pricing and rent. Over the next couple of years, |
| 0:27.5 | what you will see is all the new supply that started several years ago is going to be added to |
| 0:33.4 | the economy in 2024 and 2025. That's going to cause a little bit of disruption in the markets |
| 0:39.0 | for about two years. And that's going to show up in the form of flat rents, concessions, |
| 0:43.8 | and possibly even pricing. Once that pig goes through the python, as I like to say, |
| 0:48.8 | after that, the genie's out of the bottle. The supply goes way down and the demand stays steady and that's |
| 0:56.3 | when we're going to start to see massive, massive price increases and massive rent increases. |
| 1:03.5 | So the opportunity for real estate investing is going to be in these next two years when you |
| 1:07.9 | can buy distressed assets from developers that are sitting on construction |
| 1:12.7 | loans really high rate loans or even owners that are undercapitalized or possibly even occupancy |
| 1:19.2 | problems. So for those of you who are skeptical, just take a look at the following graph. |
| 1:24.2 | And on the left side are completions. Now, these are both single family and |
| 1:28.3 | multifamily. And at the bottom is the year. Please focus on 2006 when you can see that the U.S. |
| 1:35.2 | added about 1.8 million units of housing. The red represents multifamily and the blue represents |
| 1:41.3 | single family. And this bubble was created by low interest rates at the time. |
| 1:46.4 | We've all heard of 2008, 2007. Well, you can see the drop off right after that, and that's what |
| 1:52.9 | ensued next. So during this period of time, no banks were lending for new construction because |
| 1:58.7 | what had happened up to that 2006 time frame is we |
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