And well catch you next week. 6 Jun 2023. In the beginning, Justin, I was going out and saying, Hey, if I find a good deal, would you invest? And the answer was always, Yes, of course, but then when the time came, they were nowhere. He attended college through an athletic opportunity. And now weve acquired a little over $3 billion in assets. 3pm - 6pm. Click to enjoy the latest deals and coupons of Ken McElroy and save up to 70% when making purchase at checkout. Justin Donald: Well, Ken, Im so excited to have you on the show. Ill outwork: Thats the kind of wrestler I was too. Please note that some processing of your personal data may not require your consent, but you have a right to object to such processing. So thats what I did. Thats right. And he turned me onto his buddies and, as you know, the power of the math like once they saw the deal and they start to see the return and they were excited about the senior market because even in the 90s, they were talking about the aging baby boomers. And I, of course, because I make a lot of money on my real estate, I dont even know why Im speaking. Resources + Links: Connect with Danille on Instagram | Check out the Ken McElroy show on Youtube | Text PODCAST to 480-605-4814 to get VIP updates from Kara! I always tell people because when I first started, it took me a long time to get into real estate. Justin Donald: Oh, I love it. And so, I just kind of hung my hat on that and said this lifestyle living, it wasnt an assisted care, congregate care, or lifestyle living. And I know youve experienced that as well. She lived in Conway, Missouri, and apparently died of cancer. Hes a general contractor. And then he asked me, hes like, Hey, do you want to come to one of my events? I swear this is true. Ken McElroy: Sure. Essentials of Real Estate Finance can help students pass their exams, assist professionals advising clients, or help buyers understand what finance options are available. 298 Listens. Overcoming the limiting belief that you need money in order to make a deal happen. It has links to get to the company, which is MC Companies. What you do need is a strong work ethic, solid relationships, and a willingness to put yourself out there! And that was a good differentiator because most people wont work that hard. One of these women was 24-year-old. Justin Donald: Thats incredible. And for what its worth, I loved your book. Youve got to come up with $2 million. Literally, I had to fire the manager and the two assistant managers, and I was there by myself. Im having fun. He co-hosts the podcast with Danille and delves into a wide range of topics related to real estate. Sure. Honestly, it was an incredible experience. Ken McElroy: Yeah. We were talking about a few other people in your pipeline that you did this. Its got a $20 million value-add, we got to put this much in it, and Ive already got a debt quote. You would say, In. Now, there are a zillion things that I have to prove out but a lot of people dont realize that investors are sitting on a bunch of money typically in their bank account and/or theyre making a bunch of money and their companies are kicking off a bunch of money. Premium Videos & Mini-Courses And you know, its interesting, my parents werent able to afford my education either. And this is the only place where Im guaranteed to answer your questions and look over your deals. Today, Im speaking with Ken McElroy, who went from a broke college student managing an apartment building to becoming a business mogul who has transacted over $1 billion in real estate. I appreciate your time and being on your channel and I know were going to get you on mine. But if I called you up right now and I said, Hey, we buy it for this. 13145 Old Farm Dr, St Louis. And we walk up to these two just gorgeous girls with this big, beautiful black and white photo and there are two models standing next to it. Its great to see you again. To date, he has acquired and sold in excess of $1 billion in commercial real estate. I called Robert and I met him and Kim at the Phoenix Country Club because they were living in Phoenix at the time and they had a home in Hawaii. Reviews go a long way in helping us build awareness so that we can impact even more people. And then, of course, when I was hanging out with Robert Kiyosaki at the conference we were at, he just spoke so highly of you. And so, now I love it because Ive come full circle. But his determination to learn and ability to surround himself with the right people eventually paid off. I read it in one night. You know, now its kind of old news but this is like, this is going to happen. Real estate expert Ken McElroy shares his knowledge through books, courses, YouTube, and a podcast. Otherwise, youre not going to go. And bless their hearts, they wanted to help so much, and even inside the first semester, they did what they could to like be supportive and theyre just incredible parents. But Robert and I were at a conference in New York with Trump, and I remember we were walking through the Javits Center and theres this booth. So, I just go when I can around my family. The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. Ken McElroy 2020-09-29 . Now, this book is a few years old, so, you know, I'm sure some things have changed. Its like 25 questions but it kicks right to your inbox. Were you overpaying? . And so, all the profits of Lifestyle Investor have gone to an organization. He is probably mulling over a deal right this second. Im like, Sure. If Im going to meet this guy I better go buy his book and read it. So, I went to the store and bought the book. Mc Companies is a longstanding real estate investment company based in Arizona. And Ill tell you, really, you want some purpose. Today, Ken is committed to helping as many people as possible to achieve financial freedom through real . Ken McElroy Age. You know, it was so fun kind of just hearing your story, learning about your connection with real estate and all the, I mean, youve been in it for years, the deals that youve done with Robert Kiyosaki. And I told him that I had to get running because we had our interview and he goes, Oh yeah, I know him, and hes from the Seattle area. Associated persons: Joseph J Knouse . Thank you. 53K Followers, 5,726 Following, 1,666 Posts - See Instagram photos and videos from Ken McElroy (@kenmcelroyofficial) And then as you would imagine and not by any kind of design, that attracts a different kind of employee. Words of wisdom:Ken didnt come from a wealthy family, and it was only when he started finding success with real estate investing that he realized most deals are less mysterious than they seem from the outside. I received this book 2 days ago, and I have already finished reading it . McElroy helps as many people as possible to achieve financial freedom through real estate. Ken McElroy: I appreciate it. In This Episode, You Will Learn: How to start from the bottom and work your way to the top. Back then we didnt have the internet and trying to figure out people that had money. So, I go up on stage. So, welcome. Im like, Oh my gosh. And that was right before lunch and I remember Kim came up to kind of handle me a little bit because I was just like, What am I doing here? And I was completely not dressed very well, either. So, when you are willing to do it and when you have the resume to back it up or the reputation to back it up, it is much easier to raise money. This is working. Check out my Channel on Youtube that was created to inspire you to grow your mind and money and ultimately live your best life. Ken has gone on to experience great success in the world of real estate. Ive now written six books. Lets designate a bunch of money from our properties into these foundations and bring on this director, so which we did. We . So, kudos to you for having such an impeccable reputation. In this episode, Ken talks about his unbelievable journey and his steps to go from property manager to property owner. Ken has transacted over $1 billion in real estate. And I spoke with someone else earlier that also knew you. Over the course of his life, McElroy was accused of dozens of felonies, including assault, child molestation, statutory rape, arson . Holy cow. If you can prove that you can make money, investors want to give it to you. Its funny. Table of Contents. This is your ultimate guide to investing in rental properties, whether you have a hundred dollars in the bank or a hundred thousand. I'm looking to buy small multifamily and notice that his specialty is large complexes, resorts, mobile home parks, and other large scale commercial properties. He was a real estate attorney, still my attorney, by the way, and an incredible friend. Weve been to Russia, Asia, Australia multiple times, all over Europe, all over the US, Canada, Mexico, Spain, you name it. Let us show you how to get there. Media Personality Scottsdale, AZ kenmcelroy.com Joined May 2009. ' And youre like, I kind of wasnt prepared for it but it was my first speaking engagement. But then you went on to do a lot of speaking with him and then also with one of my other favorites, Tony Robbins. Ended: Apr 24, 2023 , 6:11PM. With over $700 million investment dollars in real estate, Ken . He started telling me some of your story about how youre doing property management in the early days and tied up with Robert. In his podcast, he shares his personal experiences and the strategies hes implemented throughout his career. Ken McElroy: Its so true, Justin. And so, I remember that my mentors were authors. I dont even know exactly, somewhere between 20,000 and 30,000 units up and down the western United States and so starting from Seattle area all the way down into California and Oregon. Ken McElroy: Yeah, its true. Ken McElroy. A dedicated educator and a heck of a nice guy, Kenny is a Summit favorite, and we're . Since then, Ken has experienced great success in the real estate world from investment analysis and property management to acquisitions and property development. Ken McElroy: Yeah. Would love feedback from anyone who has taken his class, and especially to know if the content is helpful . Ill be there. So, I forgot. McElroy is around 55 years oldalthough details regarding the date and year he was born remain unknown. And what that turned into was a full-time Director of Philanthropy. They promote the upcoming Limitless Expo, featuring over 40 speakers on topics related to the economy, money, gold, debt, and negotiation. Come join us for one of our best podcasts ever with Ken McElroy, the author of The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing and The ABCs of Property Management.. learning, playing and networking until we pack up and go home on Wednesday, June 14th, 2023. Connect with the Guest: Website:https . But in a dramatic act of . I need to start making moves towards it versus not just laying in this limiting belief space where I think I have to have the money. And one day I was like Im on the wrong side of the desk here. And one of my mentors when I was off base with somebody, she said to me, Well, one of you is out of exchange. Im kind of like, Oh, thats a very interesting way to put it. And it was true. So, the both of us, by this time, the properties that we had owned were quite a bit and they were kicking off lots of cash. But weve been to Russia, Asia, Australia multiple times, Europe, all over Europe, all over the US, Canada, Mexico, Spain, you name it, Bolivia. 6) Create Your Investment Checklist. More Important Than Money: an Entrepreneurs Team. So, he had one little investment out in Arizona that he did for a favor and then I asked him if I could buy it, and he sold it to me and the rest is history. Ken McElroy: Well, thank you. Thats awesome. 1) Find the Market Trend. Ken McElroy on Building a Billion Dollar Real Estate Empire EP 61, In property management, I was creating all this value for other people. You raise the first floor and theres a bunch of other things that we did but we ended up filling it up. So, at a certain point in your life, like theres this whole idea around scarcity of money and when you dont have any, its very scarce but its truly an abundant resource. And I know youve experienced that as well. Try NOW! But when I did, I coveted it and it was a fair deal. Today, Ken is committed to helping as many people as possible to achieve financial freedom through real estate. The price for membership is $29.99 per Month. So, this would have been almost 25 years ago, I guess. Ken McElroy has experienced massive success in the real estate world-from investment analysis and property management to acquisitions and property development. The ABCs of Real Estate Investing - Ken McElroy 2013-02-28 This book will teach you how to: Achieve wealth and cash flow through real estate Find property with real potential Show you how to unlock the myths that are holding you back Negotiating the deal based on the numbers Evaluate I say this often in my podcast that the people that I meet and get to know better, its so fun. I can do this. Hes like, That is the book that just keeps on giving. Its been wonderful. And so, just scrapping it out, trying to be a little more educated than I was. Ken McElroy 2020-09-29 Many Americans dream of financial freedom, but they're stuck in dead- . I was like, Oh, this is pretty good. And so, I was like, Maybe I should do a little bit more, and shes like, Id like you to write a book based on what youve done. Im like, I have no idea how to write a book. So, then I found somebody to help me do that and kind of mumbled through that, and thats how the ABCs of Real Estate Investing came out and then that opened more doors, as you know, to radio shows. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. [] Please watch or listen to the full episode here. It is like the same excuses, almost exact. Im like trying to educate and Im actually trying to figure that all out, too, but at the same token, in the beginning, I was trying to hold my own speaking and try to figure that out and deliver good messaging and all that kind of stuff. And so, thats what I did. Save $60 The job ignited his entrepreneurial spirit and his turning point came as he was picking up his check. I would ask him questions. So, at a certain point in your life, like theres this whole idea around scarcity of money and when you dont have any, its very scarce but its truly an abundant resource. And if the deal is good enough, the money will show up. And thats the truth. Justin Donald: Thats incredible. Its in Sun City, Arizona, and I bought it for $9 million and I didnt know how I was going to do it with $2 million down and $7 million in debt roughly. Justin Donald: We did. So, theyre just frothing for guys like us that can bring them something that provides cash flow tax-free. And thats really taken off. And I was scared to death. I mean, plain as day, I was like, Hey, Im out buying properties and Im looking for capital. He serves as the host of a weekly business podcast, Real Estate Strategies. Lorem ipsum dolor sit amet, consectetur adipiscing elit. And you just started knocking on doors, calling. So, what happened was obviously and we talked about my first building then I bought another one and I have a partner too, Ross McCallister, who we merged our companies as well and that made us stronger. Ken McElroy: It is. Justin Donald: When I first started, it took me a long time to get into real estate. 00:28:37 - Join Ken as he speaks with Kelly Johnson from his property management company on how he and his team were able to manage properties virtually throug How to manage a property during lockdown - Real Estate Strategies with Ken McElroy () | Listen Notes Id never been to anything like this. The story of how Ken went from managing an apartment building as a broke college student, to acquiring over $3B in real estate. I met with him the next day and, of course, I made that the topic like you would. So, the call right before this was with a lifestyle investor mastermind applicant. Ive got to assume you didnt have this yourself. And so, Im like, Well, okay. So, then I really got involved and I said, Okay. Id love to hear more about that. So, on Sunday morning I woke up. Stop bullsh*tting yourself. I've been watching countless, super helpful videos on Youtube by Graham Stephan and more. And then when I started to get involved, what happened was a friend of mines son was diagnosed with autism and this is years ago and before autism was this is back in the day when I really didnt have a lot of notoriety. Trena McElroy, center, is led to a car with her stepson Ken McElroy Jr. . So, all this stuff starts to happen. And in my EO chapter, there was a guy that knew Robert and I was raising capital. According to real estate guru Ken McElroy, As of now, McElroy has managed over $1 billion worth of properties. Real Estate Investor Author Entrepreneur Partner at MC Companies 1 Billion AUM C-Suite Radio Host. Premium Newsletter If youre looking for step-by-step instructions on how to find, buy, manage, and get the most out of a property, my Closing Your First Deal course is here to help. I mean, just go google it. Justin Donald: So, what was the first property that you bought? (46 to 54 years old) - Now in or entering their prime earning years, this group will also face a tough time selling suburban homes, hampering the ability of these boomers to move. He is a man of average stature. What is it? I had no idea he did seminars or anything and hes like, Yeah. That was my first job. Fueled by that determination, Ken bought his first investment property not long afterwards. Youve made a career of being able to have these long-term relationships. Investing Calculators They had just sold their business and Rich Dad Poor Dad had just been released. Tony Robbins. Ive read every book but it was the first book I ever read on real estate. I bring my kids and all that kind of stuff. And we had gotten a chance to connect before that but it was cool here in his perspective and his story of you and how you guys met and the whole nine yards. Whether you want to write your own deals, learn to syndicate, or be a passive investor, my Real Estate Investing Master Course is made for you. Id go there and get there at 5 a.m., help set up, help with registration, whatever I needed to do. Despite being a renowned Real Estate Investor and Author, McElroy has kept details regarding his marital status confidential. The seniors didnt want to walk up the stairs. So, I learned that you not only spoke on stage with him and I believe it was that wealth mastery but I think youre the youngest speaker Tony had ever had. I mean, just the level of success youve had is spectacular. I believe that you had to have a bunch of money in the bank. I actually was pretty good at keeping it full and managing it. Ill teach you how to organize your finances, find tenants, and discover tax-friendly ways to reinvest your profits. Again, Justin, you just got to like put yourself out there and you just got to put things in motion and anybody listen, I grew up like you very humbly and thinking that this is where I was going to be for the rest of my life, and I just continue to work hard. Bob Boze Bell True West Magazine, Bio, Wiki, Age, Salary, and Net Worth, Sarah Carey Chef, Bio, Wiki, Age, Wife, Partner, Recipe, And Net Worth, Copyright 2023 | WordPress Theme by MH Themes, List of States in the US, Alphabetical list of States in the U.S., and Abbreviation of States in United States. Commercial-Free YouTube Videos I wish I would have mended a relationship. I didnt even know he was going to talk to me. In fact, theyre opening nine more locations and theyre just doing incredible work. We need these changes to our zoning code to support better development patterns that incentivize affordable and sustainable housing. With multiple units, the property value is based on the current cash flow of the property.". She remarried in 1983, and, from what I know, lived a fairly happy life. So, I wish I would have gotten that early of a start but you got to run it while youre in college. He shares his expertise with thousands of people around the world through his immensely popular YouTube channel, and is a sought-after speaker on real estate investing at events around the world. 5) Now Calculate the Exact Value of the Property. Awesome, Justin. behind Ken's fourth book, The Sleeping Giant, is to help inspire people to believe And that was the little secret, Justin, that I didnt realize is that I was syndicating in the 90s and it wasnt a thing, and people were clamoring to find out how I invest in apartment building. [], 2023 Justin Donald | Refund Policy | Privacy | Terms |. What a mindset shift. And then when I read Cashflow Quadrant, I was like just totally blown away. I went to learn how to scale a company, then you have to learn how to keep the people and keep them happy and all that. In addition, he is the author of The Sleeping Giant and The ABCs of Real Estate Investing. Obviously, its not perfect. The process behind transitioning into investing and landlording. He is the owner of MC Companies in Scottdale since 2000. Yeah, Ill come. The ABCs of Real Estate Investing by Ken McElroy - Complete Book Summary. Navy during the Korean War. With real estate's relatively predictable cash flow, I believe it's still a sensible way to invest for the long term. I know like, well, I climbed Kilimanjaro twice with my kids. Review:The Abc's of Real Estate Investing:Ken McElroy. Its in a 55-age restricted community. 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. Ken founded McElroy Management in 1998, and in 2001 merged his company with Ross McCallister, creating MC Companies. Well, I think what happened in the beginning, I was a check writer like a lot of people, and I did it for tax reasons and it wasnt really meaningful. He shares his insights and experiences on his podcast, Real Estate Strategies with Ken McElroy, and on his wildly popular YouTube channel. So, they set a certain number and then you got kind of that over. Im the guy that gets the call and says, Hey, heres a property. Its quite a few charities, because we have 250 employees. Ken McElroy, The charity thing has been really significant for us. The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. McElroys mother worked as a hairdresser and his father a contractor. In addition to all of that, Ken is the author of the best-selling booksThe ABCs of Real Estate Investing,The Advanced Guide to Real Estate Investing,The ABCs of Property Management, and most recently his book on entrepreneurship, The Sleeping Giant. Justin Donald: Thats awesome. TheABCs of Property Management: What You Need to Know to Maximize Your Money Now. So, it was, Hey, figure out a way to go to college and to pay for it. And if you guys know anybody that is interested, let me know. And so, I got a referral. I wanted to do real estate a lot longer than I was actually doing real estate because I had this limiting belief in my mind that I had to have the money to be able to do the deal. Virtual Happy Hour with Ken Id get up before school and deliver the Seattle Post Intelligencer at like 5 a.m. And I did that every day for a couple of years and I would knock on the door and try to collect the money, you know? You know, theyre like, Oh, this guy is like buying buildings now, and then the debt guys show up. Ken Rex McElroy was shot dead inside his pick-up truck on the 10th of July, 1981, via a storm of bullets. Ken McElroy: Oh, yeah. And the way that worked back then was that you got whatever you collected over a certain amount. The speakers also emphasized the importance of changing one's . He is a man of average stature. You know, its funny because I just recently did a podcast with Tom Wheelwright, and he spoke at our conference that we just had for The Lifestyle Investor Mastermind and private clients. It was you. And so, I had flip-flops on, shorts, and a t-shirt. Ask Ken Questions And I think that people could learn that lesson. He also was prominent in organizing the Pueblo Businessmen's association, and was regarded here as a real business leader. The story of how Ken went from managing an apartment building as a broke college student, to acquiring over $3B in real estate. Ken got his start during college, when he took a job managing an apartment complex . 22:37. He was born to hardworking parents and grew up in a state in the United States. And I want to end this call as I end each call and that is with this, what is one step you can take today towards financial freedom and towards a life on your terms, a life by design, not by default? . What he does: Ken McElroy currently owns approximately $1.5 billion in real estate assets, including office buildings, condos and single and multi-family homes. The Advanced Guide to Real Estate Investing - Ken McElroy 2013 If you're interested in real estate investing, you may have noticed the lack of coverage it gets in mainstream financial media, while stocks, bonds, and mutual funds are consistently touted as the safest and most profitable ways to invest. . Its in Sun City, Arizona, and I bought it for $9M. We found that just from doing something that Ross and I wanted to do, our culture got better, stronger, deeper and tighter, and we started attracting very good people, because they wanted to be part of something bigger than just making money. Ken McElroy. So, Im coming out with the new revised version next year but that book has been great, tried and true. And so, reading your book, I was like, Man, this is possible. Monthly Webinar 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. I had a scholarship but didnt pay for everything. And like a lot of people, thats how you started. Robert Helms, one of the hosts of The Real Estate Guys Radio, personally knows him as his attorney. Get Your Copy Analyze Deals Like a Professional Investor How did you figure that out? Our turnover was almost nothing. Ken's an uber-successful entrepreneur, philanthropist, and real estate syndicator with over two decades of experience and nearly a billion dollars of deals on his resume. Its probably worth $50M now. Ken McElroy, The good thing when youre young is that you dont know any better. He pursued and matriculated with a bachelors degree in Business Administration and Management General in 1990. Watermark-Free Sample Forms Ive never heard him speak so highly of anyone before. And so, I remember I read Rich Dad Poor Dad and I was like, This is incredible. He . Your book, The ABCs of Buying Rental Property, was the third book I read in the Rich Dad Poor Dad series. I brought them to a bunch of those places, as my kids were growing up, and made it a family affair. You jump to a $9 million purchase price. You know, it reminds me when I was younger. Ken is a Rich Dad Advisor to Robert Kiyosaki ("Rich . 3) Employment, Population, and Location. She was born June 14, 1944. . He called and said, Listen, Ive got only a year to live, and he got diagnosed with cancer. McElroy stands at the height of 5 ft 7 in (Approx 1.74 m). Review:The Abc's of Real Estate Investing:Ken McElroy. Day 9. [] Click this link to get a free copy of the video notes: Learn more about Ken McElroy and sign up for his video library at: Join Ken McElroy as he explains how investing in cash flow positive real estate investments will have significant benefits as the U.S. economy moves into a more inflationary period. Day 2-8. In fact, that is one of our core values is to be giving. He grew up in a family that was below middle class, even in some cases, and lower than that. In this week's podcast, Rich Dad Advisor Ken McElroy shares his story of . He shares his expertise with millions of people around the world, appearing on Tony Robbins' Wealth Mastery. Photos not available for this variation. How long have you used the same relationships and brokers and lenders and whoever it might be?
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