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 […]
If you have turned on a television in the last two months you have probably heard the word inflation being mentioned. Inflation is basically a tax on the poor. These small but steady increases are making it harder for those that live paycheck to paycheck to get by. Yet, there is a way to make […]
“Be Content with What You Have, but Never Who You Are” It is that time of the year, the holidays. During this time specifically, I think we go through the motions and state how grateful or blessed we are for our friends, family, and our prosperity. Yet, I think a lot of us throw the […]
With inflation and the cost of rent continually going up, you hear a lot of politicians today talk about rent control. Rent control limits the amount you can raise the rent on your tenants annually. When you get a new tenant it typically resets and you can once again charge market rent. Rent control sounds […]
Compromise is important. To work with a team or within a company requires compromise. In fact, that is why our culture at MC Companies is so highly rated. Ross and I are willing to work with our employees to get things done. Even in my personal life with my wife and kids, I am constantly compromising […]
These six types of real estate markets are what I call “sleeper” real estate. We spend a lot of time focused on real estate as it pertains to housing. While that’s certainly a huge part of the real estate market, you may not know there are a lot of ways to invest in real estate […]
Do you ever wonder why the education system doesn’t teach you how money works? Most people assume the system just needs to be updated to include this part of the curriculum, but the truth is they don’t teach you because they don’t want you to know. Let me break it down, the general education system […]
I celebrated my birthday this past weekend with my family and close friends. In my downtime, I took some time to reflect on the year and put together some real estate and life lessons I have learned throughout my younger and now more wiser years. I hope you enjoy my top ten and make sure […]
If you’re not sure where your money is going, it’s time for a budget. A defined plan can help give you more control over how much and when to spend. With a budget, you can not only keep track of where your money is going but also have more control over the process. Without a […]
Major rent increases are the latest talk in the real estate world. If you’re a landlord, this is great news to you, and if you’re a tenant, you are feeling a bit panicked. If you’re a homeowner, you are probably just feeling relief that you have a fixed mortgage. People act like this is such […]
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 […]
As many of you know I spoke this weekend in Miami for the Rebel Capitalist event hosted by George Gammon. When deciding what to speak about I took into account George’s saying of “End the Fed.” Sure, that would be great, but it’s not going to happen anytime soon. However, what if instead of ending […]
I was just asked at a charity event the other night if I was still running MC Companies. I replied, “Yes I am.” while laughing. I will tell you, I am pretty busy running MC Companies while also launching the learning platform KenMcElroy.com. So why did I start this learning platform? That is a great question […]
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 […]
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 […]
There have been a lot of tax law changes from the new administration, so how you normally structure your tax write offs may not be the best way to do them this calendar year. Today, I am joined by Tom Wheelwright who is a very knowledgeable CPA and we are going to discuss all things […]
A lot of people don’t start their real estate journey because they are scared. They second guess themselves, overanalyze and miss out on great opportunities. I want to let you know that this feeling is normal, and that is why it is important to be educated, but equally as important to be confident in your […]
I was having dinner at Robert and Kim Kiyosaki’s house last week with some friends and a young, college-aged man named Austin. Robert looked at him square in the eye, as Robert does, and asked him, “In life, are you going to be a victim or are you going to be a warrior?” Austin was […]
“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.
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
To join Ken’s newsletter, follow this link: https://www.kenmcelroy.com/newsletter — Join Ken McElroy as he discusses acquiring properties with MC Companies’ Director of Acquisitions, Bobby Bull.
Join Ken McElroy as he talks with Mike Ayala and Andrew Lanoie from Four Peaks Capital Partners (https://www.fourpeakspartners.com/) as they talk about mobile home investors are ahead of the curve on the affordable housing issue.
Join Ken as he talks with Lesley Brice, who is his partner running his property management company, MC Companies. They talk about an example property management agreement with a close examination on the fee structure.
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.
Join Ken McElroy as he talks with Jon Rosenberg about whether or not investors should self manage their commercial properties.
Join Ken McElroy as he answers your questions relating to real estate, raising capital, and the book that has had the most impact on him.
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.
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 average person doesn’t know how to get started investing in real estate, and therefore, gets their cash flow from a nine to five job. That scenario is the exact opposite of financial freedom because they’re dependent on a job they have to go to every day. True financial freedom happens through investing in things […]
So much of real estate investing is about forming relationships. One relationship that can be invaluable, especially if you’re new to real estate, is a relationship with a mentor. A real estate investing mentor can help you by sharing their experiences and expertise, answering your questions, steering you away from the mistakes they’ve made, and […]
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 […]
Not all leaders are created equal. Sometimes people find themselves in a leadership position and it’s not an instantly comfortable fit. They may experience some anxiety or imposter syndrome. The good news is that you can still learn to be a good leader even if you’re having those self-doubts. In fact, I’d encourage you to […]
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 […]
Happiness…. With all of the conflict going on in the world today, I have been a bit confused on what to write about this week. After considering multiple topics, it came down to one thing. I think most of you could use some happiness right now. You may say happiness? How can I possibly be […]