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. So, I just go when I can around my family. And then for about a year, they passed on everything. And, boy, did I have an education at that place. . [] Please watch or listen to the full episode here. He is the owner of MC Companies in Scottdale since 2000. Ken got his start during college, when he took a job managing an apartment complex. Associated persons: Joseph J Knouse . And you just started knocking on doors, calling. And I love that youre so good about developing relationships with people that become long-term business relationships and then they become friendships. Where: Fitzgerald's, 2706 White Oak. 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. 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. Honestly, it was an incredible experience. Ken McElroy was born in United States on June 1, 1934. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Life on tour isn't much of a theme in and of itself . And I feel like thats exactly what you guys have had. Ive got to assume you didnt have this yourself. 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. As of now, McElroy has managed over $1 billion worth of properties. You know, we used to be called YEO at the time, which is Entrepreneurs Organization. Premium Videos & Mini-Courses He also was prominent in organizing the Pueblo Businessmen's association, and was regarded here as a real business leader. Building and developing multi-family communities. With multiple units, the property value is based on the current cash flow of the property.". Ken McElroy: Yeah. So, thats how it started and then I started traveling with them because I wanted to learn how to speak better. He shares his insights and experiences on his podcast, Real Estate Strategies with Ken McElroy, and on his wildly popular YouTube channel. Ken Rex McElroy (June 1, 1934 - July 10, 1981) was a resident of Skidmore, Nodaway County, Missouri. It was a small property that barely turned a profit, but it didnt matter. 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. But in a dramatic act of . 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. He shares his expertise with millions of people around the world, appearing on Tony Robbins' Wealth Mastery. Thats incredible. And if you guys know anybody that is interested, let me know. And so, I got a referral. It is clear and concise as can be, and really easy to read because the font size is a . Realtor.com Real Estate App 502,000+ And one day I was like Im on the wrong side of the desk here. 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. 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. Ill outwork: Thats the kind of wrestler I was too. Ken shares his knowledge as the Real Estate Advisor to Robert Kiyosaki of The Rich Dad Company, a Forbes Council Member, with contributions to . Its kind of fun. I always felt very sorry for her. And thats how I got on the other side and I started doing that in the late 90s and I never looked back. Ken McElroy: Sure. I've been watching countless, super helpful videos on Youtube by Graham Stephan and more. But Im still the first person in our extended family to actually graduate from college. How Ken developed an unexpected friendship with Robert Kiyosaki. Ken oversees the company's asset portfolio and leads the day . Its always a primary issue in our firm. 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. And then as you would imagine and not by any kind of design, that attracts a different kind of employee. Rich Dad's Advisors: The ABC's of Property Management - Ken McElroy 2008-09-12 Management. We . 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. He attended college through an athletic opportunity. 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. What was the market for that? Ken lives with his family in Scottsdale, Arizona. Day 1. So, I just wanted to share that with you, and it was really neat when we got a chance to meet. Ken McElroy Age. The job ignited his entrepreneurial spirit and his turning point came as he was picking up his check. I actually just need to go find the deals. Also, he offers advice on finance, budgeting, the entrepreneur mindset, and creating passive income. Ken McElroy 2020-09-29 . 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 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. Thats probably the best place you can look on there. I understand this and I love spending time there and time as far as treasures, right? Justin Donald: Thats incredible. Obviously, its not perfect. Thats awesome. The story of how Ken went from managing an apartment building as a broke college student, to acquiring over $3B in real estate. Robert had me on stage. Having purchased over $400 million in real estate in the past two years, Ken brings a unique property management perspective when estimating a property's potential value. What you do need is a strong work ethic, solid relationships, and a willingness to put yourself out there! I bought it over 20 years ago. And so, its been a heck of a fun journey, honestly, just speaking with all of these different folks over the years. And one of those is relationships. learning, playing and networking until we pack up and go home on Wednesday, June 14th, 2023. The key is investing only where it makes sense and . I appreciate your time and being on your channel and I know were going to get you on mine. 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. The murder of Ken Rex McElroy took place in plain view of dozens of residents of this small farm town, under the glare of the morning sun. And the industry is very, very interesting and its a lot more collaborative than people might think. And then when I started to get involved, what happened was a friend of mines son was diagnosed with autism and this is years ago and before autism was this is back in the day when I really didnt have a lot of notoriety. 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 Take advantage of my community forum, where you can connect with people just like you. 4 Likes. You know, its beautiful, right? And I think that people could learn that lesson. And well catch you next week. 30:34 - Wrap up. Im not getting paid. And thats really taken off. 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. The price for membership is $299.00 per Year. The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. Through his profession, he has attained a decent fortune. Investing Calculators The steps Ken took to raise money and secure a $9M multifamily deal as one of his first investments. Ken McElroy, author of "ABCs of Real Estate Investing" says, "The inflation rate was 9.1% in June, it's 7% now. And so, thats how I started and it was interesting and it was all on a handshake from the guy that allowed me to manage it. 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? TheABCs of Property Management: What You Need to Know to Maximize Your Money Now. 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. Watermark-Free Sample Forms I've been listening to "The ABC's of Real Estate Investing" by Ken McElroy. 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. 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 so, the first one was hard, dont get me wrong, and then I had to work my butt off to prove out the numbers. Justin Donald: Yeah, thats incredible. And so, obviously, when something like that happens you have to evaluate things. Hes like, That is the book that just keeps on giving. Its been wonderful. Together with his real estate investment company, MC Companies, Ken has transacted over $1 billion in real estate. You can also help by providing an honest rating & review over on Apple Podcasts. Ended: Apr 24, 2023 , 6:11PM. Essentials of Real Estate Finance can help students pass their exams, assist professionals advising clients, or help buyers understand what finance options are available. . Further, he is a sought-after speaker on real estate investing at events around the world. Holy cow. They just said, Sorry. 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 a lot of times their options are financial planners of the stock market. And so, its really interesting seeing this world kind of just come together here. If you can find a good deal, the money will always follow. Its one of our core values: We have five core values, and one of them is to be giving. And so, were involved in a community. So, welcome. 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. Were making money. Literally, those are at the top. 3) Employment, Population, and Location. And then, of course, philanthropy comes from there. Get Your Copy Analyze Deals Like a Professional Investor Lets try to scale it. And so, that happened and then I joined EO. And so, I said, This is kind of cool. Ross [McCallister, Kens business partner] and I fund the majority, but then our vendors fund [some], and our employees get an opportunity to fund too.