And, boy, did I have an education at that place. Ken McElroy: Yeah. We do videos and blogs and newsletters and all that kind of stuff to kind of support people that are trying to figure out things in the real estate community. So, weve sold off some of those and we do development, construction, property management, all in-house. How Ken developed an unexpected friendship with Robert Kiyosaki. Ken McElroy: It is. Youve got to come up with $2 million. I had no idea. As the Real Estate Advisor toRobert KiyosakiofThe Rich Dad Company, Ken is also a chapter contributor in the newly released Rich Dad book,More Important Than Money: an Entrepreneurs Team. . Were making money. Stop bullshitting yourself: Be authentic, be transparent, and it will work out. Ken McElroy. So, I didnt have a lot of mentors in investing or entrepreneurship or anything like that. A major factor in Ken's real estate success is his brand, MC Companies. I jumped in my car and I drove up. Ken McElroy, author of "ABCs of Real Estate Investing" says, "The inflation rate was 9.1% in June, it's 7% now. Building and developing multi-family communities. But then I jumped right up and bought a property that I was managing, and I still own it. Ive owned and built self-storages and office buildings and condo projects and single-family. 53K Followers, 5,726 Following, 1,666 Posts - See Instagram photos and videos from Ken McElroy (@kenmcelroyofficial) The story of how Ken went from managing an apartment building as a broke college student, to acquiring over $3B in real estate. And it was fun to write. View Full Itinerary. And then the broker started to take a look. But its a lot, and the employees can write their own grants, and they go through a board and all that, and they get the grants to whatever charity makes them happy. I bring my kids and all that kind of stuff. So, yeah, I didnt want to fail so I did it. Justin Donald: Now, Ken, youre used to just like doing some property management, youve got a single-family home, maybe youve picked up one or two more at this time but like this is a big move to move from property management on other peoples stuff. . Discounts on Upcoming Courses. And a lot of times their options are financial planners of the stock market. What type of investor are you? Youve done that. Deals get done almost on a napkin now. (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. Key Takeaways with Ken McElroy. Its probably worth $50M now. Ken McElroy, The good thing when youre young is that you dont know any better. Designed to guide every rookie from goal-setting to goal-realization in record time, this step-by-step guide will help you become a real estate investor within 90 days. 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. Ken McElroy. Just always try to be an exchange of equal value. Day 2-8. He's a regular guest on popular podcasts such as The Real Estate Guys Radio, The Lifetime Cashflow through Real Estate, and The Ken McElroy Podcast. To date, he has acquired and sold in excess of $1 billion in commercial real estate. So, on Sunday morning I woke up. Were you overpaying? You did this with Robert. Associated persons: Joseph J Knouse . And you know, in the last five years, we hired a full-time director of philanthropy. 14 Jun 2023. Even though he didnt invest, the lesson from him was invaluable because youre asking all the wrong questions, youre doing all the wrong things, youre looking at all the wrong things and you have all the wrong assumptions, and you think you do but you dont. But then I actually had some duplexes, fourplexes, and things like that but then I jumped right up and bought a property that I was managing and I still own it. Virtual Happy Hour with Ken And when you have the thing that others want who have money, it is really easy to raise it. He has an estimated net worth of $20 Million attained from working as a renowned Real Estate Investor, Author, and Entrepreneur. Its kind of fun. Robert Helms, one of the hosts of The Real Estate Guys Radio, personally knows him as his attorney. They promote the upcoming Limitless Expo, featuring over 40 speakers on topics related to the economy, money, gold, debt, and negotiation. Ken McElroy: I didnt overpay. I just go when I can, around my family: I put my family first. And like a lot of people, thats how you started. But Im still the first person in our extended family to actually graduate from college. Save $60 Premium Videos & Mini-Courses I mean, these are people that had a huge impact whether they know it or not. And so, we were walking through, we were just grabbing stuff and going into the green room, getting ready to speak, and Im sitting there looking at all the stuff, and I go to Robert. 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. Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of senior level experience in multifamily asset and property management, development. Justin Donald: Yeah. And you just started knocking on doors, calling. Obituary daughter ken rex mcelroy. Now, theyre all podcasts and things like that. And the issue when I came on was that all the downstairs were full and all the upstairs werent for obvious reasons, right? Investing Calculators Its so neat to just see how these worlds collide and who knows who and, I mean, one conversation, one relationship in the trajectory of change for the direction of your life, like the gravity of that one intersection is just mind-boggling. And it took me a handful of years to figure out, No, this is holding me back. These are timeless principles that anyone can use to pick out high-performing investments that produce passive cash flow streams reliably and immediately. Monthly Webinar Real estate expert Ken McElroy shares his knowledge through books, courses, YouTube, and a podcast. He shares his expertise with millions of people around the world, appearing on Tony Robbins' Wealth Mastery. Our turnover was almost nothing. But if I called you up right now and I said, Hey, we buy it for this. And so, the lessons of life theyre everywhere as you navigate things and you start to open your mind and see things for what they really are. Its always a primary issue in our firm. Ken has gone on to experience great success in the world of real estate. I brought them to a bunch of those places, as my kids were growing up, and made it a family affair. Hes a general contractor. Its always a primary issue in our firm, and as you would imagine, that attracts a different kind of employee. And this is the only place where Im guaranteed to answer your questions and look over your deals. I'm enjoying Ken McElroy's content and see he has a RE Master Class for $450. And what that turned into was a full-time Director of Philanthropy. Were you underpaying? While I was there, I was offered by a friend of mine and said, Hey, weve got this 60-unit apartment building that you can manage and Ill give you a free rent if you do it. So, Im in like I just said because I was racking up student debt, getting through school. Further, he is a sought-after speaker on real estate investing at events around the world. And so, I remember I read Rich Dad Poor Dad and I was like, This is incredible. A dedicated educator and a heck of a nice guy, Kenny is a Summit favorite, and we're . But weve been to Russia, Asia, Australia multiple times, Europe, all over Europe, all over the US, Canada, Mexico, Spain, you name it, Bolivia. Hes like, That is the book that just keeps on giving. Its been wonderful. Building on the foundation of real estate investment 101, McElroy tells readers: . I mean, just the level of success youve had is spectacular. But how did you guys meet and how did you broker this relationship? 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. And I realized when you see the faces of the folks and then the stories and you start to really connect with people, I realized that I needed to get more involved in things. So, for example, lets just use Robert. Real Estate Market 2023 - Robert Kiyosaki, @KenMcElroy. So, I started small and made small mistakes but I was in the property management business, so I actually was pretty good at keeping it full and managing it and all that. 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. Connect with the Guest: Website:https . 28:05 - Advice for a 20-year-old self. Free shipping for many products! He was on the Forbes list at the time in New York, and I called him up and I remember as plain as day I was walking through the Portland airport and I was on the phone with him and we cut a deal right then over the phone almost in a handshake and hes like, Ill send over the documents. And its a long story behind it but I had his trust as being the property manager for a while because it had a rough start, I fixed it, and he had one investment. This channel is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. I appreciate your time and being on your channel and I know were going to get you on mine. The speakers also emphasized the importance of changing one's . Literally, I had to fire the manager and the two assistant managers, and I was there by myself. I didnt even know he was going to talk to me. Is that right? Sorry. Because when we officially met, I hadnt even connected the dots yet when you said, Oh, yeah, I was that guy that wrote it. I was like, Ah. You hold a special place in my heart. Stop bullsh*tting yourself. We have at KenMcElroy.com/LifestyleInvestor we actually have a test that says, What kind of investor are you? So, you can maybe try that. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Tickets: $20-$24; 713-862-3838, fitzlivemusic.com. Its kind of fun. And then he asked me, hes like, Hey, do you want to come to one of my events? I swear this is true. It was cool hearing all that he knew and hes actually from Redmond, Washington, or lives there right now, so just outside Seattle. It is your completely own grow old to sham reviewing habit. 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. -Ken McElroy Original publish date: August 22, 2018 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 its funny because over time, I kept getting the same answer and finally it clicked for me and that was, Oh, the people that have figured it all out and are really successful in life and are so successful that they dont need to work, theyre spending their time at these charities. So, that kind of got us through that period of time. of Bluffton, SC passed away on 7/25/2020 . And so, Im like, Well, okay. So, then I really got involved and I said, Okay. Replies. And if the deal is good enough, the money will show up. And thats the truth. You know, theres all these people wanting all this information, and all of a sudden I had some more investors. @kenmcelroy. He is a man of average stature. I dont know if its ever intentional but quite simply I didnt grow up with a lot and my parents were amazing but we couldnt afford college for me, for sure. I received this book 2 days ago, and I have already finished reading it, there is a wealth of information here, for those of you who are thinking of going into real estate I advise picking up a copy. Ken Rex McElroy (June 1, 1934 - July 10, 1981) was a resident of Skidmore, Nodaway County, Missouri. I was laughing the other day because I started as a paperboy when I was 14. Ken McElroy: Tell the truth, be authentic, be transparent and it will work out. Investing Calculators Its really an incredible thing that theyre doing and it gives me so much joy to see the impact that this focused energy and really just the book itself has been able to create. Its quite a few charities, because we have 250 employees. Ken McElroy, The charity thing has been really significant for us. 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. Like, was that a fair price? They've raised interest rates six times and it's only gone down two percent." The good news, as Ken explains, is you can make money no matter what happens in the economy. His name is Ken McElroy and he is the CEO of MC Companies, a real estate company that today holds over $1 billion in real estate investments. The ABCs of Real Estate Investing by Ken McElroy - Complete Book Summary. Ken McElroy: Sure. And so, thats what I did. I actually was pretty good at keeping it full and managing it. Ken McElroy was born in United States on June 1, 1934. And so, obviously, when something like that happens you have to evaluate things. I mean, plain as day, I was like, Hey, Im out buying properties and Im looking for capital. His name was Leonard Litwin. I understand this and I love spending time there and time as far as treasures, right? I actually just need to go find the deals. So, everybodys all in sport coats and Im in t-shirt and shorts. [] Please watch or listen to the full episode here. So, its quite a few charities because we have 250 employees. I wish I would have forgiven. Tony Robbins. Thanks so much. And thats really taken off. But moreover than that, there are so many people that dont even have basic human rights and human freedoms. And the industry is very, very interesting and its a lot more collaborative than people might think. This is probably $5 or $10 just this one. I go, The deal, its interesting. I go, The bigger the brochure, the worse the deal. And he started laughing and we started saying, kind of to your point, like deals get done almost on a napkin now like the high math. He serves as the host of a weekly business podcast, Real Estate Strategies. You know, its beautiful, right? We have five core values and one of them is be giving. It was all my savings and I used it and it was cash-flowing I want to say just north of 100 a month, thats if it was full. And so much of what youre saying is just spot on, especially with like the deal terms. McElroys net worth is $20 Million. They are: On April 13, 2015, McElroy launched his YouTube account. Commercial-Free YouTube Videos Ken McElroy and Tarl Yarber have teamed up to create a financial freedom expo with the sole purpose of helping to change lives in today's chaotic world so that others do not get left behind. And I just got to say Ive had so much fun hanging with you here today. And Im glad in many respects that I didnt figure that out that I was a little too hard-headed because it would have been for the wrong reasons. Mc Companies is a longstanding real estate investment company based in Arizona. I mean, just go google it. I would bring them on a lot of those trips. And so, you did this with your attorney. Its one of our core values: We have five core values, and one of them is to be giving. If you enjoyed todays episode of The Lifestyle Investor, hit the subscribe button on Apple Podcasts, Spotify, Stitcher, Castbox, Google Podcasts, iHeart Radio, or wherever you listen, so future episodes are automatically downloaded directly to your device. This is working. Trena McElroy, center, is led to a car with her stepson Ken McElroy Jr. . 3. Ken McElroy. To get access to The Lifestyle Investor: The 10 Commandments of Cashflow Investing for Passive Income and Financial Freedomvisit JustinDonald.com/book. MC Companies. And in my EO chapter, there was a guy that knew Robert and I was raising capital. So, all this stuff starts to happen. In This Episode, You Will Learn: How to start from the bottom and work your way to the top. But we used an arms length. And then so that started from a physical standpoint. I didnt know what I was doing but, thankfully, property management was kind of my ticket for my next eight years. I want to know where the people that are doing the thing that I want to do. So, Im coming out with the new revised version next year but that book has been great, tried and true. Review:The Abc's of Real Estate Investing:Ken McElroy. . Management. But I also love really what youve done on the charitable side. And so, like you have your book, right?
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