The dark side of real estate: unpredictable markets, bad tenants, negative cash flow and more
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 1 November 2022
⏱️ 59 minutes
🧾️ Download transcript
Summary
Join Danille and Jorge Contreras on November 9th as they take all things Airbnb, sign up here: https://kenmcelroy.com/webinar
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, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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, where we host in-depth conversations on everything real estate with the industry's biggest movers and shakers. |
| 0:11.3 | I'm your host, Ken McElroy, joined by my co-host, Danielle. |
| 0:15.4 | Let's get right into this episode. |
| 0:17.4 | Hello, and welcome to the Ken McElroy show. |
| 0:19.5 | I'm your host, Danielle, here with Kent. |
| 0:21.2 | So they're going to possibly be raising interest rates here soon. Yeah, what is today? Yeah, |
| 0:26.3 | today's the 31st. So two days, I think. The first and the second. So it's going to be interesting. |
| 0:33.1 | They're saying three quarters of a point. You know, my brother's looking for a house right now, and I was telling him, I go, man, if you just weed a little bit, you might be able to get a |
| 0:41.4 | really good deal. Well, prices are coming down. That's documented. Not in every market, but in most. |
| 0:50.1 | So some are worse than others. But yep, it's going to be interesting. |
| 0:55.5 | Yes, it definitely will. |
| 0:57.1 | And he actually agrees with me because, you know, I told him, I said a lot of times, you know, these sellers, you know, they're not used to letting things, you know, they don't have time to let things sit sometimes. |
| 1:06.0 | Like if they're going through like a move where they have to be relocated or a job loss or, you know, they flip to home. |
| 1:15.0 | There's a lot of instances where sellers don't want to wait until the market gets better because |
| 1:19.0 | it could be a long time. |
| 1:20.0 | Well, the seller often doesn't think of the buyer. |
| 1:23.2 | Yes. |
| 1:23.7 | They just think of the sale. |
| 1:24.8 | So in this particular case, the buyer now has to qualify for more. |
| 1:32.0 | Right. Because their payments went up. Yeah. So, right. Yeah. So, you know, all things being equal, |
| 1:38.7 | wage growth being equal, as it was six months ago, let's say, if you haven't had a spectacular increase in your income |
| 1:46.1 | somehow or wages, you're buying less. And that's the way it works. Yeah. And I mean, you very well, |
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