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HI 137 – Rich Dad Advisor Ken McElroy – GOP Tax Plan’s Impact on Real Estate Investing, Treating Tenants Properly, & the Myth of Home Ownership, Part 2

Episode: 137

Guest: Ken McElroy

iTunes: Stream Episode

Gary Pinkerton starts today’s show discussing how important a personal connection is as a landlord. Some of the tenants who’ve been around the longest for Gary have been those that he (or his property manager) have established a rapport with. Those without a rapport tend to leave as soon as something goes wrong.

Then Jason Hartman and Ken McElroy finish up their conversation started in episode 135. This time, however, the two look into the importance of how property owners (and managers) treat their tenants, and why many people are doing it wrong. They also discuss why the American idea of home ownership may be a massive myth, and two critical pieces to your investment success.

Key Takeaways:

Gary Intro:

[3:09] Making a human connection with the tenant can do wonders for keeping them long term

[5:33] You have to pay attention to the area trends, outward migration is check mate

Ken McElroy Interview:

[10:12] It’s important to treat all your residents as your customers

[11:38] Is the idea of home ownership a myth?

[13:52] Population growth and migration are two things critical to investment success

[17:11] The state of the states