If you’ve tried to buy a house recently, you know how stiff the competition is to get your foot in the door. With bidding wars, all cash offers, and homes going into escrow almost the instant that a “for sale” sign gets placed on the front lawn, buyers have been acting with lightning speed. In…...
Former president Ronald Reagan once remarked, “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.” While there’s a fair amount of hyperbole in that statement, the comparison of inflation to a robber is an apt one. As a market force, inflation can and will devalue…...
McElroy, Danille, and Joseph Chantry (@your_first_million) on his journey to a high net worthwhile keeping himself grounded with a 9-5.
What is Freedom Really? I hope you had a great 4th of July. I want to dive into what freedom means to you this holiday weekend. I think as Americans we toss around the word free, but never really unpack what it means to be free. Sure we have liberties in this country, but working […]
I have been discussing where you should invest quite a bit lately, but what I haven’t touched on are the cities I feel are the worst to be investing in right now. The reasons I don’t recommend investing in these cities are all unique but important. It may be people are moving out, or the […]
Arizona’s Director of Housing, Tom Simplot Can America’s homeless crisis be solved? What can the government and local real estate investors do to provide affordable housing to those in need, especially after this pandemic? Join Ken McElroy and the Arizona Director of the Department of Housing, Tom Simplot, as they discuss Governor Ducey’s appointment to […]
If you were a contractor in 2020, your phone was probably ringing off the hook. With an unprecedented increase in the number of people working from home, there was a shift in the public’s appetite from houses in urban centers to more spacious houses in the suburbs. Of course, the supply wasn’t always there, which…...
Hidden Forces in the Housing Market… As many of you are starting to realize (myself included) this isn’t your typical housing market bubble and crash. We have a loss of jobs, many people in forbearance, and many tenants and landlords behind on payments. Yet, the housing market is on fire. Why is this? Because the […]
If you’ve been watching me for any length of time, you know I believe the government has built a dam and the water is about to start pouring over the edge. We have homeowners in forbearance, tenants months behind on rent, businesses applying for PPP money, and unemployment at a record high, but we are […]
To join Ken McElroy’s Newsletter, follow this link: http://legacy.kenmcelroy.com/news — Join Ken McElroy and Nomad Capitalist founder, Andrew Henderson, in a discussion about their experiences with starting real estate investments outside of the US, things to look out for, and the best countries to get yourself started. Check out the Nomad Capitalist by following this […]
Join Ken McElroy and Rich Dad Advisor, Garrett Sutton, as they break down various types of company structures, asset protection, and how to best set your real estate investing business up for financial success. Ken McElroy:Hey everybody, it’s Ken McElroy. I’m here with Garrett Sutton, my good friend and fellow rich dad advisor. Uh, for […]
To join Ken McElroy’s Newsletter, follow this link: http://legacy.kenmcelroy.com/news — Join Ken McElroy in a conversation with MC Companies’ internal acquisitions person, Bobby Bull, about acquiring real estate during a pandemic, as well as the various challenges and opportunities that come along with it. Learn more about your ad choices. Visit megaphone.fm/adchoices
To join Ken McElroy’s Newsletter, follow this link: http://legacy.kenmcelroy.com/news — Join Ken McElroy in a conversation with Jason Hartman as they discuss various ways that both landlords and the government can be helping tenants that are unable to pay rent, including a discussion on the topics of universal basic income. — The conversation continues on […]
“How do I raise money from investors?” I truly believe that you do this simply by surrounding yourself with the right people and finding a good investment.
To join Ken McElroy’s Newsletter, follow this link: http://legacy.kenmcelroy.com/news — Join Ken McElroy in a conversation with Jason Hartman about the rapidly increasing inflation in the US and how the Feds’ involvement in the economy will affect us in the long term.
Premium Member question for the Real Estate Strategies Podcast with Jason Hartman.
How to Find a Real Estate Investor Looking for an investment property is an exciting process. There’s something thrilling about stumbling across a diamond in the rough and realizing what a great deal it is. But when you’re starting out, you may not have the funds available to close on that property you’ve found. In…...
Join Ken McElroy as he talks about setting up the future generation for financial success with viral YouTuber & entrepreneur, Jase Bennett of the Ohana Adventure YouTube channel. In this episode, they discuss little habits to teach your children to learn economic fluency at a young age as well as the challenges of setting up […]
While many of the events of last year were unpredictable and unprecedented, we’re now at the time of year when we need to address a very predictable and recurring event: paying your taxes. If you’re a real estate investor, there are numerous deductions you can claim, including some you may not be aware of.
Before I get into the particular deductions, my number one piece of advice is to hire an experienced CPA. While it may be tempting to save some money by doing your own taxes, real estate tax law is extraordinarily complex and you could easily wind up paying more than necessary. It will be well worth your time and money to hire a CPA to make sure you follow the best approaches for your deductions and you take advantage of all of them.
Finding the Right Short Sale Property
If you’ve been considering an investment in real estate or buying a home, you may have found yourself looking at short sale listings. But what exactly is a short sale? A short sale occurs when a lender allows a homeowner to sell their property for less than they owed on the existing mortgage. This process allows the lender and the homeowner to avoid the lengthy and costly foreclosure process. Unlike regular home sales, in a short sale, the lender is actually the one approving the sale
Primary markets as most of you know are suffering. What we are seeing is a lot of secondary markets by the big cities are heating up as the cities cool down. For example, as Washington DC cools, Virginia Beach heats up. Same with San Francisco -> Sacramento and Los Angelis -> Riverside. The truth is, these more expensive cities were already at their tipping point prepandemic. The pandemic only accelerated it.
Real estate investing is going to get a bit trickier and take it from me you want to have a true “expert” leading you in your journey. I wanted to share with you some common mistakes I see investors making when they first start out in real estate.
I see this misconception happen all of the time. “Well my realtor says ____________ about the market.” That blank is always something like “Buy now or you’ll miss out” or “The market won’t go down anytime soon” or my favorite “This isn’t 2008.” Yet, guess what? Realtor’s were saying that in 2008 as well ha.
Welcome to the real estate strategies podcast. I’m Ken McElroy, and I’m here to give you creative ideas on how you can get started or continue your journey in real estate. Each week, we will bring you inspiring and informative conversations with successful people and their path to obtaining or investing in real estate. Enjoy […]
Join Ken as he talks with marketing specialist Scott Harkey about the current state of marketing & advertising. Scott Harkey is a founder of OH Partners, the fastest growing marketing agency in Arizona, and provides great insight to various different marketing strategies that companies of all sizes can employ.
People often times miss this very important question. They try and measure the cashflow of the future value, or they say they don’t mind feeding it some money each month. To be direct, it is only a good investment if it cashflows based on the rents and expenses of today, not the future rents you think you will get five years from now. Cashflow is the most important thing when deciding on a rental property.
I am going to show you how to look at a Zillow listing and decide if the property is cashflow positive or negative. Obviously, I want you to dig into these numbers and verify the rent and expense numbers, but start with just the basic calculation. If the numbers don't work on the initial calculation, then it is not worth your time. If the numbers do work, it is time to move into due diligence and verify the rental and expense amounts. FYI in this hot market, most listing don't work. That is why it is up to you to always look at the new listings and run the numbers daily.
A correction is coming to the real estate market and I expect to see it early next year. Each downturn is very similar to the next. We have high unemployment, and housing prices that are extremely inflated. Yet, people keep asking me, “how can you say it’s going to crash when prices are skyrocketing? If I keep waiting, I’m going to miss out on the buying opportunity!” So let me put a few things into perspective for you. This is a supply and demand issue. That is what inflates and deflates prices: inventory versus demand for housing
If you find yourself saying or thinking, “it won’t happen here,” I need to give you a reality check. Denial is not an investment tool. In fact, you can’t be a successful investor if you don’t understand market cycles. When a correction occurs, it generally happens everywhere in the country. Of course, some areas are affected more than others, but every city and every state is eventually affected.
Cash is king moving forward. Let me repeat cash is going to be king in the next 12 months. Here is why. Banks want to lend, it is in their nature. The problem is if people are out of work or just starting a new job, or are behind on bills the bank cannot lend to them.
I will tell you that affordable housing will become more and more of a need in the United States over time and this is definitely something you should understand and look into. That is potential here from owning a park to possibly even converting a mobile home into a rental.
If you are interested in obtaining a rental, then take the time to read my book “The ABC’s of buying Rental Property.” The next couple of years you may have the biggest buying opportunity you will see in your lifetime, so you need to be prepared. I wrote this book to prepare you with all of the in-formation you need to know when purchasing your first rental. I am going to help to prevent you from making the same mistakes new investors make and to maximize your investment.
Building new multifamily units from the ground up as an investing strategy Join Ken as he talks with his long term business partner Ross McCallister about building multifamily apartment units from the ground up.
[vc_row][vc_column][vc_column_text]Join Ken as he speaks with Melissa Murphy about how to get started in your real estate investing journey. They talk about steps she took to start investing and then expand out to a broader discussion of smaller markets. [/vc_column_text][/vc_column][/vc_row]
Many people see investing in real estate as a way to generate cash flow, build up a nest egg and have tenants pay your mortgage for you. That’s a great strategy, but there’s a technique to it. It isn’t as easy as simply buying a property and renting it. Uneducated investing is how you get […]
The time is finally here. You’ve done the hard work of getting your investment property ready for tenants. The people looking at it are oohing and aahing at the upgrades you’ve made and they all seem friendly. When one of them wants to move in, you have a good feeling about them. In fact, you’re […]
Everyone getting into real estate investing aspires to be successful at it. Sometimes when I talk to newer investors, there’s an expectation of success. I’m always a little wary of those investors because success without hard work is just luck. But being consistently successful is another matter. That isn’t just lucking out. Long-term success only […]
I’ve met and worked with countless high-net-worth individuals. Over the years, I’ve noticed some consistent patterns amongst them and it’s enabled me to pinpoint six skills that every future millionaire must master. When you build on these six skills, you’ll set a foundation for the life that you want to have. Once you incorporate these […]
I have been seeing the fear of missing out a lot lately on the private forum that I host each week. (Click here to join.) People have become so fixated on not missing their opportunity to buy, that they’re itching to buy right now when prices have only gone down by a few thousand dollars. I keep […]
One of your tenants goes out for the night and forgets about a lit candle in the other room. Another tenant is making dinner, gets distracted by a phone call, and only remembers the pot on the stove once the apartment is filled smoke. This is the everyday carelessness that can easily start a fire […]
Affordable housing is a legitimate concern in the real estate market. Not only considering when buying for yourself but also thinking of long term rental properties to own as well. Mobile home parks are a two sided coin. On one hand, they are usually fairly easy to obtain properties and most can be acquired for […]
[vc_row][vc_column][vc_column_text]Join Ken as he talks with Blair Singer about how he is approaching the uncertainty going forward. To learn more about Ken visit: http://legacy.kenmcelroy.com/membership-registration/ To learn more about Blair visit his website at: https://blairsinger.com [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] Episode Transcript: Ken McElroy (00:01): Welcome to the real estate strategies podcast. I’m Ken McElroy and I’m here to give […]
When you’re looking for tenants to rent your properties, it’s okay to enjoy the process of meeting the people who file in and ooh and aah over your granite countertops, the view from the kitchen window, or any of the other touches that set your property apart. You can be friendly and outgoing, but keep […]
As parents, we try to do everything that we can to prepare our children for the future. Having practical conversations about money with your children will help them immeasurably. When you take the time to do this, you’re showing your child the importance of managing their own financial wellness. Below are four key messages that […]
Having a solid lease in play from the very beginning for each one of your tenants is the best game plan you can have as a property owner. You want to make sure that your lease is one professionally. This is an extremely important document and should be created by your personal attorney. This is […]
[vc_row][vc_column][vc_column_text]Join Ken McElroy and Eric Freeman from BeachFleischman as the talk through some options for individuals that have been impacted by Covid-19. You can learn more about Eric at his firm’s website at https://BeachFleischman.com You can also download a useful resource created by Ken to help work through your financial stress test. You can find […]
So, let’s first get past the denial. I am still hearing people tell me there won’t be inflation when we have just printed 2 trillion in cash to distribute and by the end of this, it will most likely be closer to 5 trillion. The amount of money in our current money supply was 2.5 […]
Invest In A Bigger Real Estate Deal with a group of people or a company The first is what I do with my investors at MC Companies. Which is joining with others to invest in a bigger deal. This can be either commercial or residential. There are two great things about investing in a larger […]
Join Ken McElroy as he talks with CPA and tax advisor Eric Freeman about the impact that Covid-19 is having on real estate. Eric is a Tax Senior Manager for BeachFleischman PC and has been with the firm for 7 years. Eric has a Master of Accounting with a focus in tax. He has spent […]
In this episode, Ken speaks with a landlord who operates two small rental properties and provides guidance on how to proceed forward.