228 talking about this. Were a very giving company. Dec. 15, 2010. 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 then I jumped right up and bought a property that I was managing, and I still own it. And so, Im like trial by fire, I guess, and then eventually kind of turn that into the more of a learning platform like yourself and put some real effort behind it and some people behind it and put some wind behind it. And I know youve experienced that as well. Building and developing multi-family communities. Im not getting paid. Ken has held many board positions with the Arizona Multi-Housing Association with the most recent as past Chairman of the Board. Join Ken McElroy as he answers your questions, regarding real estate, entrepreneurship, and much more! Summary. 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. To get your questions answered and learn more about Ke. 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. But Im still the first person in our extended family to actually graduate from college. So, we gave out, gosh, we were giving out $5,000 and $10,000 grants to families during that out of our foundation to our own people. Key Takeaways with Ken McElroy. So, with Robert and I, as you know, I kind of skipped over the whole books and all that kind of stuff because its a significant piece but its really my kind of give-back education piece is writing all the books. 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 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. And if the deal is good enough, the money will show up. And thats the truth. Why relationships are the foundation for success. I mean, just the level of success youve had is spectacular. And so, when I actually got the courage and decided I was going to start owning properties, I didnt know what to do and I started finding mentors and coaches and things like that. I was taught the same as everybody else. McElroy stands at the height of 5 ft 7 in (Approx 1.74 m). Were you underpaying? And like a lot of people, thats how you started. Discounts on Upcoming Courses. Its 182 units. Fueled by that determination, Ken bought his first investment property not long afterwards. 14. And you know, in the last five years, we hired a full-time director of philanthropy. So, I got involved with just a simple walk, and I started doing almost like a March of Dimes walk and it was a small growing movement and it grew each year. I bought it over 20 years ago. 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. I would ask him questions. He shares his expertise with millions of people around the world, appearing on Tony Robbins' Wealth Mastery. Play Audio. And we didnt lay anybody off, of course, but some of our employees families had been severely impacted. I lived in Lincoln Park and I would walk by these 3 flats and 4 flats, and I just wanted to buy one so bad. Photos not available for this variation. Our turnover was almost nothing. Thank you. One of these women was 24-year-old. And if the deal is good enough, the money will show up. And thats the truth. . Despite being a renowned Real Estate Investor and Author, McElroy has kept details regarding his marital status confidential. I always felt very sorry for her. Also, he offers advice on finance, budgeting, the entrepreneur mindset, and creating passive income. Here youll discover a place that reflects Kens passion for real estate and helping others, where investors from all walks of life can learn, grow, and thrive. [] Please watch or listen to the full episode here. THANK YOU! As my friend says, Way leads the way leads the way. Its just things connect as you get into motion. And if you look at our website, its to invest, to live, to play, to give. You know, theres all these people wanting all this information, and all of a sudden I had some more investors. Real Estate Market 2023 - Robert Kiyosaki, @KenMcElroy. Back then we didnt have the internet and trying to figure out people that had money. 1) Find the Market Trend. His current net worth is around $20 million. 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. When my dad passed 10 years ago, I got to learn all about hospice and all of that. 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. 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. So, weve sold off some of those and we do development, construction, property management, all in-house. Ken was by no means an overnight success. And this is the only place where Im guaranteed to answer your questions and look over your deals. 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. Ken founded McElroy Management in 1998, and in 2001 merged his company with Ross McCallister, creating MC Companies. Obituary daughter ken rex mcelroy. Its always a primary issue in our firm, and as you would imagine, that attracts a different kind of employee. Justin Donald: When I first started, it took me a long time to get into real estate. 6 Jun 2023. Media. 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.. Commercial-Free YouTube Videos Reviewed in Canada . And you know, its interesting, my parents werent able to afford my education either. They will show you how to become a successful real estate investor. So, it was, Hey, figure out a way to go to college and to pay for it. 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. Sorry. For over two decades, Ken McElroy has experienced great success in the real estate world through investment analysis, acquisitions, property management, and property development. Because when you take two people that have their own unique set of superpowers and you combine them thats where you get that one plus one equals five. Its kind of fun. 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 feel like thats exactly what you guys have had. 2,148 Followers, 954 Following, 524 Posts - See Instagram photos and videos from Danielle McElroy (@daniellemmcelroy) Where: Fitzgerald's, 2706 White Oak. 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. Take advantage of my community forum, where you can connect with people just like you. Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of senior level experience in multifamily asset and property management, development. And so, when people like Mr. Litwin or my uncle can come in and say, Hey, these are things that you should be looking at, then you slowly change your pitch, you slowly change your business plan. 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. And so, what happened was, what does happen, as you know, is all of a sudden youre like, Okay. Just always try to be an exchange of equal value. Then we ended up doing partnerships with our vendors. Well, each kid I brought up, we summited. And now weve acquired a little over $3 billion in assets. 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. 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. Literally, those are at the top. Its quite a few charities, because we have 250 employees. Ken McElroy, The charity thing has been really significant for us. And I know youve experienced that as well. In his account, he shares his over two decades of experience as a real estate investor. And then the broker started to take a look. 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. And when you have the thing that others want who have money, it is really easy to raise it. See original listing. Its not for us. So, welcome. Youve made a career of being able to have these long-term relationships. The murder occurred in broad daylight, with as many as sixty eye-witnesses present . Id love to hear more about that. His name was Leonard Litwin. We do have something for your listeners. You know, its beautiful, right? . Review:The Abc's of Real Estate Investing:Ken McElroy. Its, well, untraditional I think like everybody gets into real estate. I was supposed to be there Friday or Saturday, totally forgot. 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? 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, its quite a few charities because we have 250 employees. I received this book 2 days ago, and I have already finished reading it . So, that kind of got us through that period of time. Its kind of fun. . Ill outwork: Thats the kind of wrestler I was too. 2000 - Present23 years. He called and said, Listen, Ive got only a year to live, and he got diagnosed with cancer. Since then, Ken has experienced great success in the real estate world from investment analysis and property management to acquisitions and property development. In this episode, Ken talks about his unbelievable journey and his steps to go from property manager to property owner. 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. If you can prove that you can make money, investors want to give it to you. Justin Donald: Oh, I love it. I believe that you had to have a bunch of money in the bank. 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. I actually was pretty good at keeping it full and managing it. He was born to hardworking parents and grew up in a state in the United States. Justin Donald: I love it. As of now, McElroy has managed over $1 billion worth of properties. Ken McElroy: Yeah. Thats awesome. And I start with my rich uncle. behind Ken's fourth book, The Sleeping Giant, is to help inspire people to believe He serves as the host of a weekly business podcast, Real Estate Strategies. 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. MC Companies. 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. I mean, plain as day, I was like, Hey, Im out buying properties and Im looking for capital. And it was fun to write. Thanks. I've been watching countless, super helpful videos on Youtube by Graham Stephan and more. And it took me a handful of years to figure out, No, this is holding me back. And a lot of times their options are financial planners of the stock market. 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. Like, that to me is something to pay attention to. 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. I had no idea. And so, thats one of my philosophies. "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 Ken McElroy: Sure. It has links to get to the company, which is MC Companies. MC Companies has been on the scene for the last 23 years, and it is only growing stronger every year. Over the course of his life, McElroy was accused of dozens of felonies, including assault, child molestation, statutory rape, arson . Ken McElroy has an estimated net worth of $20 million. Reviews go a long way in helping us build awareness so that we can impact even more people. Well, thank you for sharing that and for your time. He shares his insights and experiences on his podcast, Real Estate Strategies with Ken McElroy, and on his wildly popular YouTube channel. 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. So, I just go when I can around my family. You have to evaluate your relationships with your people and you just never know when that is. Navy during the Korean War. Ken McElroy: Yeah. You fill it out. It was Tom Wheelwright. Justin Donald: Thats such a fun story, and its so great being able to do life with people and to get past the surface-level stuff where you can really live and travel and break bread and just experience the depth of what a true relationship with time spent means. What is it? I had no idea he did seminars or anything and hes like, Yeah. Mc Companies is a longstanding real estate investment company based in Arizona. The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. You can also help by providing an honest rating & review over on Apple Podcasts. My Inner Circle Membership provides a space for real estate investors to learn, make connections, and get expert advice. 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. Lets try to scale it. And so, that happened and then I joined EO. I want to know where the people that are doing the thing that I want to do. Theyre donating their time, donating their resources, theyre starting them themselves, theyre sitting on the boards of them.. Were you overpaying? 4 Likes. 298 Listens. 40.3K Followers. 5) Now Calculate the Exact Value of the Property. . Ken McElroy, author of "ABCs of Real Estate Investing" says, "The inflation rate was 9.1% in June, it's 7% now. Obviously, its not perfect. I ended up kind of being in property management and I learned so much but what I learned is I was creating all this value for other people. Ken got his start during college, when he took a job managing an apartment complex. And then I started doing a bit of those. And thats how I got on the other side and I started doing that in the late 90s and I never looked back. Its always a primary issue in our firm. It was cool hearing all that he knew and hes actually from Redmond, Washington, or lives there right now, so just outside Seattle. If you can find a good deal, the money will always follow. Why the most rewarding part about making money is giving it away. In the 90s too. Ken Rex McElroy was shot dead inside his pick-up truck on the 10th of July, 1981, via a storm of bullets. View Full Itinerary. I mean, any time youre mentioning something with the word billions, you know that youre doing something right. Hes a general contractor. Life on tour isn't much of a theme in and of itself . Thank you for sharing that with us and with our audience. So, on Sunday morning I woke up. He also was prominent in organizing the Pueblo Businessmen's association, and was regarded here as a real business leader. Ken McElroy: Oh, yeah. And I was a volunteer. So thats what I did. He is possibly married as he lives with his family in Scottsdale, Arizona. 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. Ken decided that one day he would be on the other side of the desk, picking up his own check. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Grab The 10 Commandments of Lifestyle Investing I used to multiply my net worth to over eight figures in under two years (and doubled two years right after). 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. 5.0 out of 5 stars The 40Yr Old Virgin Critic. I had to learn that. Table of Contents. Ken McElroy is the co-partner of . I always tell people because when I first started, it took me a long time to get into real estate. 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. Ken McElroy: Yeah. So, I go up on stage. The money like you have a good deal, trust me, money is the easiest thing to come by, even when you dont have it. (The two have very different views, but still good to know) I appreciate your time and being on your channel and I know were going to get you on mine. 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. Ken McElroy has lived and breathed real estate for his entire adult life, learning from the ground up. Here is a list of the top 18 real estate books to read in 2023. And in addition to that, my partner Ross, he had some things happen in his family around cystic fibrosis. He is the owner of MC Companies in Scottdale since 2000. But how did you guys meet and how did you broker this relationship? And so, for me, I was already headed down that track but then it just solidified all of it. 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. Ask Ken Questions And well catch you next week. Ken McElroy: Its so true, Justin. Instead of a lifetime cumulative average value, we only show the most recent ratings from users in the past 30 days or the newest 10 . 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. We need these changes to our zoning code to support better development patterns that incentivize affordable and sustainable housing. Robert Helms, one of the hosts of The Real Estate Guys Radio, personally knows him as his attorney. 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 was taught the same as everybody else. What began as a way to simply cover his room and board ignited his entrepreneurial spirit. Its great to see you again. This is a self-guided course with worksheets and real-life examples. More Important Than Money: an Entrepreneurs Team. So, the two of us together, were still together and hes an incredible friend. 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. The whole thing was awesome. I know like, well, I climbed Kilimanjaro twice with my kids. in the course of guides you could enjoy now . 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. 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 can do this. This is working. And one day, I was like, I'm on the wrong side of the desk. Ken McElroy, Deliver on your promise and everything else works. Ken is the author of the best selling books The ABC's of Real Estate Investing, The Advanced Guide to Real Estate Investing and The ABC's of Property. And then he asked me, hes like, Hey, do you want to come to one of my events? I swear this is true. It just didnt matter. Justin Donald: Thats incredible. I might not have been the strongest and fastest, but nobody was gonna outwork me. Day 9. And so, then what we did was we ended up doing partnerships with our vendors. @kenmcelroy. In fact, that is one of our core values is to be giving. 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. Ken Rex McElroy (June 1, 1934 - July 10, 1981) was an American criminal and convicted attempted murderer who resided in Skidmore, Missouri, United States.He was known as "the town bully", and his unsolved killing became the focus of international attention. And if you guys know anybody that is interested, let me know. And so, I got a referral. Im going to take this over, and I became the chairman of the walk for two years while he was recovering. SKIDMORE, Mo. Our investors are happy. Justin Donald: Thats incredible. Ken McElroy on Building a Billion Dollar Real Estate Empire EP 61, In property management, I was creating all this value for other people. Well, and by the way, I love hearing that story because I took a lot of pride early on in my career that I would outwork anyone. 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. Day 1. 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. And so, we said, Okay. Find real estate agency McLeRoy Realty Associates,Inc. 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. . The story of how Ken went from managing an apartment building as a broke college student, to acquiring over $3B in real estate. Ken McElroy has generated over $750 million investment dollars in real estate. The ABCs of Real Estate Investing by Ken McElroy - Complete Book Summary. Although Trena rode with McElroy at the end, she was victimized by him at age 12. Awesome, Justin. And so, that was really cool. You started knocking on doors, calling, and trying to figure out people that had money. Ken McElroy. And I kind of have this philosophy that as long as someone in my network is an expert at the thing, if Im going to spend money on it, I might as well do it inside my family, my family of friends. (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. And so, you did this with your attorney. I didnt know how I was going to do it: $2M down and $7M in debt, roughly. Essentials of Real Estate Finance can help students pass their exams, assist professionals advising clients, or help buyers understand what finance options are available. 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. She was born June 14, 1944. . 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 We had a good time in Dallas, thats for sure. Ken McElroy 2020-09-29 Many Americans dream of financial freedom, but they're stuck in dead- . Ive read every book but it was the first book I ever read on real estate. And so, thats what I did. 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. Robert had me on stage. The key is investing only where it makes sense and . 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. Youve done that. Free shipping for many products! You determine the property value, which becomes your offer. 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. He co-hosts the podcast with Danille and delves into a wide range of topics related to real estate. Ill teach you how to organize your finances, find tenants, and discover tax-friendly ways to reinvest your profits. Ken McElroy: Yeah. Virtual Happy Hour with Ken 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