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HI 135 – Rich Dad Advisor Ken McElroy: Property Management, Investor Mistakes, & Economic Optimism, Part 1

Episode: 135

Guest: Ken McElroy

iTunes: Stream Episode

Download: MP3

Gary Pinkerton starts off the show discussing the idea that when you invest in real estate you can’t lock in to one strategy and think that you’ve got everything set for life. You have to be flexible based on the business cycle and economic conditions.

Then we have part 1 of Jason’s interview with Rich Dad Advisor Ken McElroy. Ken tells Jason some of the most common mistakes he sees real estate investors make, why you can’t just buy real estate any time you like, and some tips on how to do property management the right way.

Key Takeaways:

[4:01] Investing in real estate means you can’t just lock into one formula, you have to be flexible based on the markets

Jason Hartman Segment:

[12:25] CNBC video about current levels of economic optimism

[17:34] What The Wheel of Life is about

[24:16] The two common mistakes Ken sees in real estate investors

[26:19] Real estate is cyclical, so you can’t just buy all the time throughout your career

[28:41] Ken’s real estate business model

[30:20] Some tips on how to do property management right

[33:01] C class properties look good on paper, but in the long run, better quality properties bring better quality tenants

Website:

www.KenMcElroy.com

Play