Im the guy that gets the call and says, Hey, heres a property. I actually was pretty good at keeping it full and managing it. So, I love it that you do that. Ken McElroy: Yeah. Not only is he a bestselling author and internationally recognized speaker, but hes the real estate advisor to Robert Kiyosaki of The Rich Dad Company. And when I was young, I was like, I dont want to do that. I wasnt asking to like go give time somewhere or go donate somewhere. And so, obviously, when something like that happens you have to evaluate things. In this week's podcast, Rich Dad Advisor Ken McElroy shares his story of . Ive got to assume you didnt have this yourself. And Ill tell you, really, you want some purpose. Interview with Regan Archibald Unlock the Secrets to Optimal Health & Longevity with Interview with Rob Follows Making Extraordinary Exits Possible with Rob Follows Have you Interview with Gabriel Hamel Using Seller Financing to Build a Real Estate Empire Want A Simple, Proven System For Multiplying Your Wealth AND Replacing Your Job? Your time, your treasures in these spaces for the right reasons and its amazing the fun synergies and connections you can have with other like-minded philanthropists that value this in their life and in their business. Ken McElroy 2020-09-29 . And one of the things that I learned from hospice was that there are as they measure them at the end of life are peoples top regrets. And well catch you next week. I received this book 2 days ago, and I have already finished reading it . And so, Ross and I fund the majority but then our vendors fund, and our employees get an opportunity to fund too and they actually can write their own grants to their own charities. 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. Ken McElroy: Yeah, its true. We . Let us show you how to get there. Justin Donald: Unbelievable. In his podcast, he shares his personal experiences and the strategies hes implemented throughout his career. And it took me a handful of years to figure out, No, this is holding me back. Review:The Abc's of Real Estate Investing:Ken McElroy. I didnt know how I was going to do it: $2M down and $7M in debt, roughly. To date, he has acquired and sold in excess of $1 billion in commercial real estate. Ken believes in sharing these successes, as well as his setbacks, to help educate and inspire investors to bridge the gap between where they are and where they want to be. And thats just really just taken off. We have a great company culture. Justin Donald: Yeah, thats incredible. I started small and made small mistakes, but I was in the property management business. Ken McElroy: I didnt overpay. I had to learn that. 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. The money like you have a good deal, trust me, money is the easiest thing to come by, even when you dont have it. Discounts on Upcoming Courses. I might not have been the strongest and fastest, but nobody was gonna outwork me. The money like you have a good deal, trust me, money is the easiest thing to come by, even when you dont have it. I'm enjoying Ken McElroy's content and see he has a RE Master Class for $450. Now, this book is a few years old, so, you know, I'm sure some things have changed. Now, theyre all podcasts and things like that. Ken McElroy has generated over $750 million investment dollars in real estate. According to real estate guru Ken McElroy, In addition, he is the author of The Sleeping Giant and The ABCs of Real Estate Investing. But I also love really what youve done on the charitable side. And a lot of times their options are financial planners of the stock market. And part of that trip is working in an orphanage for the blind in Africa. Youll learn why not having enough money is a limiting belief thats holding you back, why relationships are the key to success, and how to take advantage of lifes unexpected opportunities, so you can live the life of your dreams. And I, of course, because I make a lot of money on my real estate, I dont even know why Im speaking. 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. 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. The speakers also emphasized the importance of changing one's . Advice for people interested in investing in real estate. 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. 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. So, I brought them to a bunch of places as my kids were grown up and just kind of made it a family affair. 14 Jun 2023. And it was fun to write. Thats awesome. MC Companies has been on the scene for the last 23 years, and it is only growing stronger every year. Youve made a career of being able to have these long-term relationships. Find real estate agency McLeRoy Realty Associates,Inc. 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. And then my friend, he started California Closets and he was one of the founders at EO. 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? (The two have very different views, but still good to know) And what happens is people recognize as you put stuff out there, you put books out there, you put podcasts out there, and all of a sudden one day Tony called, and Robert and Tony have a history too, which I didnt know, a good history of studying together years ago. They are: On April 13, 2015, McElroy launched his YouTube account. In a lot of ways, he was probably my first real estate mentor but I didnt get a lot of face time with him because he was so busy. We have five core values and one of them is be giving. And like a lot of people, thats how you started. More Information. And then thats when I realize theres all these people out there trying to learn. Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of senior level experience in multifamily asset and property management, development. Building on the foundation of real estate investment 101, McElroy tells readers: . 14. So, that kind of got us through that period of time. But if I called you up right now and I said, Hey, we buy it for this. I actually just need to go find the deals. Danielle F Bednarski, Danielle Frances Knouse, Danielle Francis Mcelroy. He is probably mulling over a deal right this second. We had a good time in Dallas, thats for sure. And I love that youre so good about developing relationships with people that become long-term business relationships and then they become friendships. Dec. 15, 2010. I had no idea. What a mindset shift. And then when I read Cashflow Quadrant, I was like just totally blown away. Real Estate investing seems like an exciting field and for the past month, I have been doing research every day on it. Stop bullsh*tting yourself. You determine the property value, which becomes your offer. And I know youve experienced that as well. Justin Donald: So, what was the first property that you bought? 2,148 Followers, 954 Following, 524 Posts - See Instagram photos and videos from Danielle McElroy (@daniellemmcelroy) 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. It was you. Ken was hooked. I mean, you hear the right deal and youre in. Were having fun, were making money for our investors and ourselves, and our employees are having a good time enjoying all of it. Ken founded McElroy Management in 1998, and in 2001 merged his company with Ross McCallister, creating MC Companies. 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. It has links to get to the company, which is MC Companies. He also hosts real estate training programs and has written six books, including The ABCs of Real Estate Investing. He hosts the podcast Real Estate Strategies with Ken McElroy. 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. And so, all the profits of Lifestyle Investor have gone to an organization. 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. 2000 - Present23 years. Watermark-Free Sample Forms Real estate expert Ken McElroy shares his knowledge through books, courses, YouTube, and a podcast. Overcoming the limiting belief that you need money in order to make a deal happen. Thanks so much. How did I not know about this? 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. Its one of our core values: We have five core values, and one of them is to be giving. Ken McElroy: Yeah. 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.. Also, he offers advice on finance, budgeting, the entrepreneur mindset, and creating passive income. In This Episode, You Will Learn: How to start from the bottom and work your way to the top. Were making money. Add to Playlist. And this is the only place where Im guaranteed to answer your questions and look over your deals. First time Ive been on stage and hes like, Tell them what you do, and he walked off. Check out my Channel on Youtube that was created to inspire you to grow your mind and money and ultimately live your best life. 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. Lets designate a bunch of money from our properties into these foundations and bring on this director, so which we did. Justin Donald: Yeah. . Coupons are always real-time. In the 90s too. 4,377 Following. And you just started knocking on doors, calling. But really, my love is multifamily, which is what I primarily do right now. And I feel like thats exactly what you guys have had. Back then we didnt have the internet and trying to figure out people that had money. SHOW NOTES FOR EPISODE 665: BEST OF OLD DAWG'S REI NETWORK PODCAST - THE ABCS OF REAL ESTATE INVESTING WITH KEN MCELROY. Our turnover was almost nothing. I know like, well, I climbed Kilimanjaro twice with my kids. As per sources, he has assets of $750 million in real estate. And then for about a year, they passed on everything. Ken McElroy: Yeah. 13145 Old Farm Dr, St Louis. And then so that started from a physical standpoint. Justin Donald: Well, Ken, Im so excited to have you on the show. And so, thats what I did. He is possibly married as he lives with his family in Scottsdale, Arizona. Ken was by no means an overnight success. Ken McElroy: Yeah. Im not getting paid. "I only work 90 minutes a week" Ken McElroy Ken McElroy has been successful in real estate investing, which has allowed him to build wealth and create I didnt even know he was going to talk to me. 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. I want to know where the people that are doing the thing that I want to do. And all these booths trying to sell stuff around real estate, some were down in the Caribbean, some were passport issue stuff, and some were in Mexico, and some were local. These are timeless principles that anyone can use to pick out high-performing investments that produce passive cash flow streams reliably and immediately. So, we had very low turnover. Its, well, untraditional I think like everybody gets into real estate. Discounts on Upcoming Courses. I actually just need to go find the deals. And then the broker started to take a look. I tell you what, my partner just laughs. He also was prominent in organizing the Pueblo Businessmen's association, and was regarded here as a real business leader. 6 Jun 2023. Thank you for sharing that with us and with our audience. 1) Find the Market Trend. I go, Look at this brochure. Its kind of fun. 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. (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 attended college through an athletic opportunity. Ill be there. So, I forgot. Its not for us. And they owned a little 12-unit and some other stuff, and literally, they were on this kind of high with Rich Dad Poor Dad. learning, playing and networking until we pack up and go home on Wednesday, June 14th, 2023. Its like 25 questions but it kicks right to your inbox. in ZEBULON, GA on realtor.com, your source for top rated real estate professionals. So, the call right before this was with a lifestyle investor mastermind applicant. The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. What type of investor are you? He shares his insights and experiences on his podcast, Real Estate Strategies with Ken McElroy, and on his wildly popular YouTube channel. How did you figure that out? 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 dont think I underpaid. She remarried in 1983, and, from what I know, lived a fairly happy life. 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. Key Takeaways with Ken McElroy. I mean, these are people that had a huge impact whether they know it or not. Real Estate Market 2023 - Robert Kiyosaki, @KenMcElroy. So, I just wanted to share that with you, and it was really neat when we got a chance to meet. 2.22K. And so, its been a heck of a fun journey, honestly, just speaking with all of these different folks over the years. Robert Helms, one of the hosts of The Real Estate Guys Radio, personally knows him as his attorney. Ive never heard him speak so highly of anyone before. Its kind of fun. Robert Kiyosaki and Ken McElroy discuss the current state of the real estate market, including the impact of rising interest rates and the importance of understanding debt and market cycles.
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