Fri, 3 April 2015
#25: There aren’t many famous real estate investors. There’s Barbara Corcoran, Donald Trump, Ted Turner, and today’s guest…Ken McElroy.
Listen to this week’s show and learn:
02:00 Keith cannot think of a greater contributor to real estate investing education this generation than Ken McElroy.
04:04 Last month, Robert Kiyosaki, Ken, and Keith were in the same room when Robert dubbed Ken McElroy “The Greatest Real Estate Investor In The World Today.”
05:08 Ken began in real estate as a Seattle property manager.
08:12 RE agents often don’t own investment real estate and they try to “sell buyers on the future.” Instead, use a Property Manager to find what rents really will be.
11:30 Buy investment real estate for cash flow rather than capital gains.
13:23 “Real estate is really dumb and it moves slow.” Buy where the jobs are going to be.
15:40 How Ken looks for opportunity in a new purchase.
16:50 When Ken would want to buy a vacant four-plex rather than an occupied one.
20:18 Actionable ways to add value to multifamily properties.
25:30 How large of a property does it take for on-site property management to make sense?
27:47 How Ken beats out other offers for a property that he wants to buy.
31:28 The time and freedom that real estate investing affords Ken’s family.
32:46 The advice that today’s Ken McElroy would provide to a 20-year-old Ken McElroy.
Ken McElroy’s top-selling book The ABCs of Real Estate Investing
Robert Kiyosaki’s new book Second Chance