Ken McElroy
@kenmcelroy
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🏡 Real Estate Investor 📖 Author 👍 Entrepreneur 📚Educator Follow me to begin your real estate/investing journey to financial freedom!
Scottsdale, AZ
Joined May 2009
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Always remember this formula:
Income - Expenses - Debt = Cash Flow
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Struggling is a GREAT thing! It means that you are TRYING and not quitting!
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“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
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Dinner with great friends
@realmikedillard
,
@georgegammon
, and
@therealkiyosaki
. Time to change the world.
#Freedom
#Liberty
#FreeMarketCapitalism
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Do you think that schools should have a mandatory financial literacy course?
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Had a great time over the weekend celebrating
@GeorgeGammon
's birthday!
I also had the pleasure of discussing investing with
@1MarkMoss
and
@WhiteBoardFin
.
Such a fun night celebrating and meeting new friends!
#kenmcelroy
#beinfinite
#wealthmindset
#education
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“Time is more valuable than money. You can get more money, but you cannot get more time.” – Jim Rohn
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Ken McElroy LIVE at 11 am - Inflation, Unemployment, Rent Prices... Where are we?
Today, we're looking at the FACTS of today's economic climate.
No opinions, just the facts.
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“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”- Franklin D Roosevelt
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I really want to explain why you should always go for cash flow. Most of you just aren’t getting it, cash flows wins every time. Watch this video to understand why.
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If someone is a first time real estate investor, what type of property would you recommend they purchase?
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12 days. 12 incredible holiday deals!
Give yourself the gift of financial freedom this holiday season. For the next week we'll be offering all of Ken's books, memberships, master courses, and merch for record low prices!
Find your perfect deal:
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You have the power of choice. Choose to bring positive energy into every room you walk into today.
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Unsuccessful people make decisions based on their current situation. Successful people make decisions based on where they want to be.
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What's your reward for building a good credit score your whole life?
The Federal Government charging you more mortgage fees than those with bad credit.
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"Dont be addicted to MONEY. Work to LEARN. Dont work for MONEY. Work for Knowledge."
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“The more security you seek, the less
#freedom
you have. The people with the most security are in jail. That is why it is called ‘maximum...
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“Success comes down to hard work plus passion, over time. If you work really, really hard over a long period of time, it will pay off.” -...
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Investing in real estate always involves a little risk.
But holding real estate property in your own name is a high-risk, no-reward game.
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Poor property management can ruin any property, even if it’s in a desirable location.
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Business is definitely a team sport, and understanding this will make you more successful.
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If you're still trying, if you're still improving, even in the tiniest way, and if you don't give up. Pretty soon, things will start to go your way.
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The solution to soaring rent prices?
Encourage more housing construction to increase the supply of rental properties and stabilize rental costs.
The problem? The government doesn't have housing as a top priority, especially at the state level.
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Over my 35 years in real estate investing, I've NEVER seen an opportunity like what's ahead in the next couple of years. With a 6 million housing unit shortfall, we're on the cusp of significant market shifts. The coming years (2024-2025) will introduce new supply, momentarily
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💡You should try to own things you can't print, especially during inflation.
Those include real estate, gold, and oil.
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When I was six years old, I wrote a letter to Ethel Kennedy after her husband, RFK, was shot and killed.
I went to the mailbox for months looking for a reply, and this is the letter she wrote back to me.
Doing a live interview with RFK Jr brought it all full circle.
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I sat down with
@GeorgeGammon
to talk about the fed's involvement in real estate, and how it's going to affect the market this year. Check it out on all major podcast platforms, or watch the video version below!
#kenmcelroy
#investingtips
#education
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Passive income is the insurance policy everyone needs in today's economy.
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I'm honored and humbled to have hit 40000 followers on Twitter.
Thank you for letting me spread my message of real estate and investing education to you all!
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“Every successful person in the world is a hustler one way or another. We all hustle to get where we need to be. Only a fool would sit around and wait on another man to feed him.” ―K’wan
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“An investment in self-development pays the highest dividends.” - Debasish Mridha
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Real estate market standstill: Sellers await rate drops, buyers hunt for deals. A market poised for change.
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Here are my five tips on building passive income
1. Start small
2. Determine your monthly hurdle
3. Set realistic financial goals
4. Make your financial well-being a priority
5. ONLY buy assets that cash flow
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Today seems like a good day to remind people to invest in hard assets.
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The crew is already in Dallas for Limitless this week.
Can't wait to see you all there!
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What a moment this was!
This year's Limitless Expo was the most attended one yet, had some of the biggest names as speakers, and blew our expectations out of the water.
Can't wait to see you all at next year's Limitless in San Diego!
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Trust but verify.
Trust but verify.
Trust but verify.
Trust but verify.
Trust but verify.
Trust but verify.
Trust but verify.
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Real estate is always better as a long-term investment because of the appreciation and cash flow advantages.
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“I am not a product of my circumstances. I am a product of my decisions.” – Stephen Covey
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The U.S. has no choice but to print money to cover its debts, and this devalues the dollar.
But if you own assets with fixed-rate debt, inflation works for you.
It’s one of the keys to building long-term wealth!
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If you want to save money and still buy Starbucks, are you sure you're trying hard enough?
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Our van road trip across the country has brought Danille and I to Wyoming!
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Did you know that the average millionaire has seven sources of income!?
While you don't need that many, having just one extra stream of income is crucial in this chaotic economy.
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Anyone can make money, but ask yourself, "how does money make money?"
Once you figure that out, put a plan into action to get investors, and that's how you get on the fast track to earning high passive income.
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Want to know if your neighborhood is a buyer or seller's market?
Go on Zillow and filter by price cuts. How many do you see? Drive around and notice how long the "for sale" sign is on the front yard of houses.
Nothing is better than REAL data!
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Primary wealth comes from the ground—oil, timber, and real estate. Focus on hard assets for long-term wealth
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Why are people afraid of becoming an entrepreneur?
They've been conditioned into thinking that true responsibility is going to school, getting a good job, saving your money, and stay in your lane. Challenge the status quo, and create your own success story!
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In real estate, it's a fact: Homeowners own homes, investors own opportunities. Know the distinction.
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Patience is the key factor to success, power and everything that you want in life
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Don’t let someone who has done nothing tell you how to do anything. Find mentors in the people who have done the work. In our group (link in bio) I love answering things live and interacting with all of you.
Hope to see you there.
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After the FED's latest meeting, here's my single-family prediction:
Refinances to stay down, sales to be down, rental rates to continue to rise, and new construction to be down due to higher interest rates.
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What's something that you'd teach your child that you wished you learned as a child?
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You can't save your way to being wealthy.
Unlocking more income streams is the key.
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Demographics are destiny.
The first step to success in real estate investing is knowing where your market is heading.
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What advice would you give someone that's trying to get out of debt?
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A good investment sells itself.
The harder the sale, the worse the deal.
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$8 billion of multifamily commercial mortgage-backed securities are set to mature in Q4 2023.
Brace yourselves for potential disruptions in the real estate banking system.
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Ninety percent of all millionaires become so through owning real estate. – Andrew Carnegie
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Young people spend years in school, yet most receive little to no financial education.
I just don't get it.
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Inflation is the silent thief. Robbing you and everyone you know of your hard-earned money.
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Where there's a crisis, there's an opportunity.
Don't just prepare for a potential real estate crash in 2024; learn how to profit from it.
I focused on these five things during the 2008 crisis and came out financially stronger.
Here's how you can do that same:
📊 Market
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Striving for a bigger paycheck is great, but investing in assets that move with inflation is the best long term solution for financial success.
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I've invested in real estate for almost 40 years and now own over 10,000 units across three states.
If I were 40 years younger and starting from scratch in today's world, here's the advice I'd give myself and all young people trying to become successful investors.
💸 Be careful
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Homeownership is down, and rental prices are on the rise. Rent control and caps may be on the horizon. Landlords and renters, take note of this market shift
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🏘️What I've Learned From Owning 15,000+ Apartment Units
In 30 years, I've amassed a portfolio generating millions monthly in cash flow, achieving tax efficiency, and building generational wealth.
Here are the top lessons that I've learned in that time.
These lessons are
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Successful investment is about managing risk, not avoiding it-Benjamin Graham
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America has gone from record savings to record debt in two years.
People are 30% MORE in debt now than they were two years ago.
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From last week's Real Estate Guys cruise in the Caribbean. 🇧🇶
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The amount of commercial real estate that's vacant in New York City is equal to 34 Empire State Buildings.
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Personal savings have declined, while credit card debt has soared. This is one of many factors turning America into a "renter nation."
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A bad attitude is like a flat tire—until you change it, you're not going anywhere. Stop complaining, start taking accountability.
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Five ways to be financially successful:
1. Don't buy real estate. Just rent forever!
2. Don't buy hard assets. Buy inflationary ones instead!
3. Put all your money into a traditional savings account. Try for a 0.2% return!
4. Don't start a side hustle. Who wants that extra cash
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What's the best way to gain passive income during a recession?
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Investing in real estate?
Focus on cities experiencing population growth, like Dallas, Houston, and Atlanta. These areas offer potential for rent and home price growth.
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"Money is a claim on your time."
Focus on having assets that move with inflation, not adding zeros at the end of your paycheck.
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Savers are losers! Losing money that is. If you're keeping your money in a traditional savings account, you're getting ripped off by inflation.
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What's the biggest difference between the rich and the poor?
"The poor want security, the rich want freedom." -RK
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"Landlords grow rich in their sleep without working..." -John Stuart Mill
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In 2020 there was an office building in San Francisco that was valued at $250 million. It just sold for $60 million...Commercial real estate continues to be in chaos.
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Growing up, I had many limiting beliefs, especially about money.
My parents always said, "We can't afford that," it was true; we couldn't.
So I changed my mindset from "I can't afford that" to "How can I afford that?"
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When you feel like quitting, remember that you'll be back at square one where you started, wishing to be where you're at now.
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You're not going to be able to "save" your way out of this cycle of inflation.
You need to have an abundance mindset, not a scarcity mindset.
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Whatever your goals are, you need to be all in. Having one step in and one step out is a dangerous and stagnant place.
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🏡 Your second rental property is a game-changer.
It generates enough passive income to make saving for future properties easier and provides experience and knowledge for more successful investments.
From there your passive income through real estate will 🚀🚀
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