Unlocking True Wealth: The Essentials of Land and Resources
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 7 June 2024
⏱️ 52 minutes
🧾️ Download transcript
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. |
| 0:05.4 | So Chris, I read your book to Crash Course as we know 15 years ago and I did a lot of |
| 0:11.1 | the things inside of there and they've made me very, very rich. So thank you. First of all, |
| 0:16.8 | I wanted to say thank you. You are most welcome and thank you for taking action because it doesn't matter if nobody |
| 0:23.1 | takes action. |
| 0:24.6 | I know, like a lot of people know because I talk about it, you know, I went and bought that |
| 0:29.1 | that resort that had its water rights and that's one of your, you know, that's at the bottom |
| 0:34.6 | of your pyramid. |
| 0:35.6 | I ended up buying silver, gold, timber, oil, all the things, you know, that's at the bottom of your pyramid. I ended up buying silver, gold, timber, oil, |
| 0:38.6 | all the things, you know, that that you have at the very bottom. And I think, you know, |
| 0:43.5 | just that visual pyramid that was in your book really, really helped me a lot. I use it a lot on |
| 0:50.0 | the channel. Well, great. Yeah, it's a really important concept because, you know, we're marketed |
| 0:54.2 | to that money is well, but when you study it a little, you find out it's not money. It's something |
| 0:59.8 | called currency. In fact, it's a specific type of currency. It's fiat, debt-based money, which |
| 1:05.4 | as, listen, that has characteristics, but it's not wealth, right? It's a marker for wealth, |
| 1:10.1 | and you can use it to get wealth, |
| 1:11.7 | but what you just described is actual wealth, land, water, oil, like that's real wealth. |
| 1:17.6 | Can you walk through this for our listeners? I'd be glad to because this is really important |
| 1:23.7 | concept. So this is real wealth and we're going to talk about what wealth |
| 1:29.0 | really actually means here. Then I'm sure a lot of your listeners already know this because |
| 1:33.1 | they're in real estate. But right at the bottom, what we're calling real assets here, |
| 1:37.1 | this is your primary wealth of the land. So let's imagine two, you know, country A and country B. |
... |
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