Ken McElroy: Yeah. Its kind of fun. And I think its a big red flag when youve got someone that is an investor that is always kind of turning to new relationships. McElroy stands at the height of 5 ft 7 in (Approx 1.74 m). So, on Sunday morning I woke up. Justin Donald: So, what was the first property that you bought? . He is a man of average stature. But we used an arms length. And what that turned into was a full-time Director of Philanthropy. And then so that started from a physical standpoint. He is the owner of MC Companies in Scottdale since 2000. So, we give a lot. Obviously, its not perfect. More Important Than Money: an Entrepreneurs Team. 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. The price for membership is $299.00 per Year. But Im still the first person in our extended family to actually graduate from college. About us. I say this often in my podcast that the people that I meet and get to know better, its so fun. 5) Now Calculate the Exact Value of the Property. TheABCs of Property Management: What You Need to Know to Maximize Your Money Now. Let me show you how to make the most out of your opportunities. And so, I had a wrestling scholarship, thankfully, and I got in that way. Im going to take this over, and I became the chairman of the walk for two years while he was recovering. 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. You did this with Robert. It is your completely own grow old to sham reviewing habit. 13145 Old Farm Dr, St Louis. Were you overpaying? McElroys mother worked as a hairdresser and his father a contractor. . Building and developing multi-family communities. But when I did, I coveted it and it was a fair deal. And so, for me, I was already headed down that track but then it just solidified all of it. Justin Donald: We did. Im the guy that gets the call and says, Hey, heres a property. My Inner Circle Membership provides a space for real estate investors to learn, make connections, and get expert advice. It was cool hearing all that he knew and hes actually from Redmond, Washington, or lives there right now, so just outside Seattle. Tickets: $20-$24; 713-862-3838, fitzlivemusic.com. So, those kinds of things, they open doors and get you in spots that maybe you wouldnt be at from a speaking standpoint or on a radio or whatever. Robert had me on stage. Its interesting because you talk about how and I remember when we first met youre like, Yeah. They just said, Sorry. 4 Likes. Day 1. It just didnt matter. Virtual Happy Hour with Ken And I just got to say Ive had so much fun hanging with you here today. I dont think I underpaid. 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. 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. Ive now written six books. 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. Its not for us. Im actually revising it right now because its a bit dated, just on some rents and things like that, as you would imagine from over the years. And so, we found that by having that just by doing something that Ross and I wanted to do, our culture got better, stronger, deeper, and tighter, and we started attracting very, very, very good people because they wanted to be part of something bigger than just making money. Today, Ken is committed to helping as many people as possible to achieve financial freedom through real estate. And so, like you have your book, right? 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 McElroy: Oh, yeah. Ken founded McElroy Management in 1998, and in 2001 merged his company with Ross McCallister, creating MC Companies. I believe that you had to have a bunch of money in the bank. 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. old pros as well as novice investors, this friendly, straightforward guide walks readers step by step through every stage of property analysis. Like, was that a fair price? 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. 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 know like, well, I climbed Kilimanjaro twice with my kids. Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of senior level experience in multifamily asset and property management, development. I received this book 2 days ago, and I have already finished reading it . Where to find Ken McElroy: Website | YouTube | Twitter | Facebook, I started with a two bedroom, two bathroom using my own money like a lot of people, thats how you start. 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. Obituary daughter ken rex mcelroy. But weve been to Russia, Asia, Australia multiple times, Europe, all over Europe, all over the US, Canada, Mexico, Spain, you name it, Bolivia. It was Robert. Day 9. 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. Premium Newsletter I didnt know anyone when I was young that was a business owner that invested as a profession. 4,377 Following. The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. I go, Look at this brochure. So, what I did was I made the downstairs more expensive which drove the upstairs, again, just from being in property management you dont discount the upstairs. 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. Hes involved with development, construction and property management. Ken McElroy Age. 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 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. She was born June 14, 1944. . You have to evaluate your relationships with your people and you just never know when that is. So, I just wanted to share that with you, and it was really neat when we got a chance to meet. . Commercial-Free YouTube Videos 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. I know you talked about it a little bit, and Id love to give you a chance to share because one of the things for me thats so important with my book with The Lifestyle Investor, I really wanted to not only educate people on how to be financially free to create financial freedom so there are opportunities to impact mindset where people can take not only that but shift the behavior and have the tangible, practical application to be able to do it. Here are a few principles about property investing we need to get out on the table right now: The seller's asking price is irrelevant. 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. McElroy is around 55 years oldalthough details regarding the date and year he was born remain unknown. He is also a contributor for The Real Book of Real Estate. A dedicated educator and a heck of a nice guy, Kenny is a Summit favorite, and we're . 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. Ken McElroy: Its so true, Justin. 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. 53K Followers, 5,726 Following, 1,666 Posts - See Instagram photos and videos from Ken McElroy (@kenmcelroyofficial) And so, then what we did was we ended up doing partnerships with our vendors. Save $60 Essentials of Real Estate Finance can help students pass their exams, assist professionals advising clients, or help buyers understand what finance options are available. Thats incredible. Real Estate Titans offers an insider's view into several of the most successful investors on the planet. Like, I want to do this anyway, and its really neat that we get to share this with the world, you know? I mean, in many senses, you guys travel almost everywhere together, which is so cool to see, and you both speak so highly of the other person. And I remember my son, my older son, coming over here in about an hour, I said, So, what was your takeaway from the whole week of that week and the climb in the mountain, which took another two weeks? He said, I cant believe how happy these people are and how little they had. And I was like, All right, good for you. Because when youre around that stuff and you immerse yourself in that stuff, you start to realize how lucky, how grateful actually we really are. Also known as: Danielle M Cantwell, Danielle M Mcelny, Danielle Cantwell . And if the deal is good enough, the money will show up. And thats the truth. And I end up raising money through my attorney at the time and his buddies. Ive owned and built self-storages and office buildings and condo projects and single-family. They had just sold their business and Rich Dad Poor Dad had just been released. In his podcast, he shares his personal experiences and the strategies hes implemented throughout his career. And if you guys know anybody that is interested, let me know. And so, I got a referral. Hes like, That is the book that just keeps on giving. Its been wonderful. But what happened when I did find is that the deal drives the investor. In fact, theyre opening nine more locations and theyre just doing incredible work. 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. In this week's podcast, Rich Dad Advisor Ken McElroy shares his story of . So, I love it that you do that. You know, theres all these people wanting all this information, and all of a sudden I had some more investors. A major factor in Ken's real estate success is his brand, MC Companies. Ken McElroy was born in United States on June 1, 1934.. On Popular Bio, Ken McElroy is one of the successful Criminal. Ken McElroy, author of "ABCs of Real Estate Investing" says, "The inflation rate was 9.1% in June, it's 7% now. But in a dramatic act of . You know, its really funny because your reputation really precedes you on a few different levels. So, Im like, How hard could it be to collect rent and pay a few bills and keep the place clean? And, boy, that was when my lessons started. And I was a volunteer. 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. So, weve sold off some of those and we do development, construction, property management, all in-house. Overcoming the limiting belief that you need money in order to make a deal happen. Let us show you how to get there. 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. 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 might not have been the strongest and fastest, but nobody was gonna outwork me. And I start with my rich uncle. I understand this and I love spending time there and time as far as treasures, right? 22:37. I mean, just the level of success youve had is spectacular. What you can expect to see are videos about real estate investing, entrepreneurship, and life lessons I have learned not only from my experiences but also the high caliber mentors and business minds that I am surrounded by. Justin Donald: When I first started, it took me a long time to get into real estate. 228 talking about this. Vail, Thomas E. Thomas E. Vail - Huerfano World - December 9, 1993 - Thomas E. Vail died Thursday, Dec. 2,1 993 in his La Veta home. Ken McElroy: Well, thank you. As my friend says, Way leads the way leads the way. Its just things connect as you get into motion. Your book, The ABCs of Buying Rental Property, was the third book I read in the Rich Dad Poor Dad series. Management. And so, all the profits of Lifestyle Investor have gone to an organization. Discounts on Upcoming Courses. His name was Leonard Litwin. So, I go up on stage. Youre super close. The Advanced Guide To Real Estate Investing . I always tell people because when I first started, it took me a long time to get into real estate. And I, of course, because I make a lot of money on my real estate, I dont even know why Im speaking. 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 . In this episode, Ken talks about his unbelievable journey and his steps to go from property manager to property owner. And thats just really just taken off. 6) Create Your Investment Checklist. Photos not available for this variation. 40.3K Followers. And every time you want to maybe feel a little bit bad about yourself or feel down, all you got to do is go back to some of those moments. And then, of course, philanthropy comes from there. Ken is a Rich Dad Advisor to Robert Kiyosaki ("Rich . 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. She lived in Conway, Missouri, and apparently died of cancer. Im having fun. of Bluffton, SC passed away on 7/25/2020 . In This Episode, You Will Learn: How to start from the bottom and work your way to the top. I mean, plain as day, I was like, Hey, Im out buying properties and Im looking for capital. Take advantage of my community forum, where you can connect with people just like you. Right now, I own about not quite 1.5 billion. 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. Thats awesome. . To learn more about the ins and outs of real estate investing, take a look at my book The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss. And then as you would imagine and not by any kind of design, that attracts a different kind of employee. And when you have the thing that others want who have money, it is really easy to raise it. 3. 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. There is a point in time before you knew him youve had success before you ever met Robert but you guys became great friends. How Ken developed an unexpected friendship with Robert Kiyosaki. You know, it reminds me when I was younger. Its kind of fun. I teach this seminar and its in Cave Creek, Arizona. Im like, Okay. And so, just scrapping it out, trying to be a little more educated than I was. They rescued over 500 kids last month. But thats kind of a wrestler I was too is I might have been the strongest and fastest, but there was nobody that was going to outwork me. And one day I was like Im on the wrong side of the desk here. MC Companies. Justin Donald: You know, its interesting. So, the call right before this was with a lifestyle investor mastermind applicant. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The book's compelling stories and lessons show why real estate is . Presumed owner of the real estate located at 13201 N 69th St, Scottsdale. 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. This is a self-guided course with worksheets and real-life examples. Rich Dad's Advisors: The ABC's of Property Management - Ken McElroy 2008-09-12 Moreover, he bought his first investment property not long afterward. You fill it out. 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. And a lot of times their options are financial planners of the stock market. 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. With over $700 million investment dollars in real estate, Ken . 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 had to learn that. 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. Yeah. 14 Jun 2023. I already have my rich uncle. Now, this book is a few years old, so, you know, I'm sure some things have changed. And so, its been a heck of a fun journey, honestly, just speaking with all of these different folks over the years. But really, my love is multifamily, which is what I primarily do right now. Although Trena rode with McElroy at the end, she was victimized by him at age 12. Ken McElroy on Building a Billion Dollar Real Estate Empire EP 61, In property management, I was creating all this value for other people. 2.22K. And then for about a year, they passed on everything. Id love for my audience to learn more about you. Find real estate agency McLeRoy Realty Associates,Inc. Id go there and get there at 5 a.m., help set up, help with registration, whatever I needed to do. And the issue when I came on was that all the downstairs were full and all the upstairs werent for obvious reasons, right? Please note that some processing of your personal data may not require your consent, but you have a right to object to such processing. Dec. 15, 2010. Summary. Justin Donald: Yeah. First time Ive been on stage and hes like, Tell them what you do, and he walked off. The job ignited his entrepreneurial spirit and his turning point came as he was picking up his check. Is that right? This is your ultimate guide to investing in rental properties, whether you have a hundred dollars in the bank or a hundred thousand. comprehensive coverage of real estate concepts as well as a detailed overview of the industry. Deals get done almost on a napkin now. Through his profession, he has attained a decent fortune. But there's a LOT more to Ken McElroy than his association with Robert Kiyosaki. Ken has ranked on the list of those famous people who were born on June 1, 1934.Ken McElroy is one of the Richest Criminal who was born in United States.Ken McElroy also has a position among the list of Most popular Criminal. 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. I didnt even know he was going to talk to me. 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. Also, he shares his expertise with thousands of people through his immensely popular YouTube channel. Monthly Webinar 4) The 3 Levels Of Research. Kens Investor Test for Lifestyle Investor listeners, Tom Wheelwright on The Lifestyle Investor, Unlock the Secrets to Optimal Health & Longevity with Regan Archibald EP 131, Making Extraordinary Exits Possible with Rob Follows EP 130, Using Seller Financing to Build a Real Estate Empire with Gabriel Hamel EP 129, Vanessa Peters on Investing in Land Entitlement and Making Big Returns with Vanessa Peters EP 60, Dave Allred on Creating a Life by Design with Real Estate Investing EP 62 , The Secrets to Building a Billion Dollar Real Estate Empire - Justin Donald. 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. Today, Ken is committed to helping as many people as possible to achieve financial freedom through real . I'm enjoying Ken McElroy's content and see he has a RE Master Class for $450. Would you clean it up and fix it up? And Im grateful. The old code will just perpetuate the development patterns we have. So, I was hustle and hustle and hustle to get to that point, and I was laughing because theres an analogy between when I was collecting rent and collecting for a $10 newspaper. And so, that was really cool. He is probably mulling over a deal right this second. He . It was you. Lets try to scale it. And so, that happened and then I joined EO. Here is a list of the top 18 real estate books to read in 2023. And I was scared to death. He called and said, Listen, Ive got only a year to live, and he got diagnosed with cancer. His current net worth is around $20 million. And I feel like thats exactly what you guys have had. As per sources, he has assets of $750 million in real estate. I just go when I can, around my family: I put my family first. He co-hosts the podcast with Danille and delves into a wide range of topics related to real estate. behind Ken's fourth book, The Sleeping Giant, is to help inspire people to believe Check out my Channel on Youtube that was created to inspire you to grow your mind and money and ultimately live your best life. And he was one of the richest. And so, were involved in a community. Justin Donald: Oh, I love it. Its great to see you again. 30:34 - Wrap up. Try NOW! Thank you. And this is the only place where Im guaranteed to answer your questions and look over your deals. 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. Ive read every book but it was the first book I ever read on real estate. Media Personality Scottsdale, AZ kenmcelroy.com Joined May 2009. And you know, in the last five years, we hired a full-time director of philanthropy. Youve got to come up with $2 million. We have five core values and one of them is be giving. 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. The Smallbiz Brain. So, yeah, I didnt want to fail so I did it. I brought them to a bunch of those places, as my kids were growing up, and made it a family affair. 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. I wish I would have forgiven. In addition, he co-hosts a weekly business podcast, Real Estate Strategies with Danille. As of now, McElroy has managed over $1 billion worth of properties. Ken McElroy is a famous Real Estate Investor, Author, and Entrepreneur. Well, thank you for sharing that and for your time. Why the most rewarding part about making money is giving it away. in ZEBULON, GA on realtor.com, your source for top rated real estate professionals. And so, thats when I started to be more intentional. In addition, the podcast contains 284 episodes as of April 19, 2023. I started small and made small mistakes, but I was in the property management business. I believe that you had to have a bunch of money in the bank. And so, I said, This is kind of cool. Real Estate Market 2023 - Robert Kiyosaki, @KenMcElroy. In addition, he is the author of The Sleeping Giant and The ABCs of Real Estate Investing. Ken is passionate about educating others so that they too can experience financial freedom through real estate investing.
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