The 8 Do’s & Don’ts Every Real Estate Investor Needs to Know
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 27 December 2024
⏱️ 59 minutes
🧾️ Download transcript
Summary
Ken & Danille McElroy discuss the untold stories of entrepreneurial grit, exploring early failures and lessons from successful real estate ventures. They then jump into the 8 Do’s & Don’ts Every Real Estate Investor Needs to Know!
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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 | So we had a really fun dinner last Friday with a couple of friends of ours. |
| 0:09.7 | A couple knuckleheads. I've been around a long time. |
| 0:12.8 | Yeah. And the boys came too, you know, Kyle and Cade. |
| 0:16.7 | I know. It's so great. Yeah. So, okay. So I think that the boys just see all the success, right? |
| 0:23.5 | Like all the, how your friends are successful and how their businesses have been successful. |
| 0:28.1 | But what we really got to in dinner was... |
| 0:31.6 | How we started. |
| 0:32.5 | Yeah, how you started and kind of how scrappy that was. |
| 0:35.4 | And it, you know, it really is like bootstrap stuff well it turned |
| 0:39.0 | it's going to turn into a podcast because the stories some of those stories i hadn't heard before |
| 0:45.8 | they were literally straight out of college i mean i won't tell the whole thing but marty basically |
| 0:53.0 | said he was working 10, sleeping |
| 0:56.6 | four, working 10. So 10 for 10. That's essentially, he was, he had like two full time things. |
| 1:03.5 | Two full time jobs. Things going and he's like, I could sleep to four hours a day. Now, |
| 1:08.7 | this is, I mean, obviously he's in his early 20s, straight out of school, trying to figure life out. |
| 1:14.2 | And then what he's done from there is just remarkable. |
| 1:17.5 | Absolutely. |
| 1:17.8 | And then Danny, our other friend who Marty lived with was saying that, you know, Danny bought a house in the hood. |
| 1:25.0 | And there was like, there was like police helicopters every night over |
| 1:29.0 | the house. But never he leased all the spots? Well he typical Danny he leased all five bedrooms |
| 1:34.6 | except he leased it to like eight or nine guys. So he he didn't tell them that until after they moved |
| 1:40.0 | in. This is a guy that just took a company public last year. Yeah, these are very successful entrepreneurs. |
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