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From Property Manager to $1 Billion in Assets Under Management with Ken McElroy
Manage episode 292412338 series 2544028
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Today’s guest is the author of ABCs of Real Estate Investing, Ken McElroy. Along with Rich Dad Poor Dad by Robert Kiyosaki, Ken’s book inspired and motivated me to keep buying real estate.
If you are new to the real estate space, Ken has an interesting and relatable story to share. He grew up in the Seattle area and while in high school and college knew that he wanted to become a real estate investor.
“I started managing properties, and that’s where I learned kind of the inside look of how they run, and it was obviously the best education that I got.” - Ken McElroy
Ken learned how to turn around properties, make them profitable, and manage expenses by filling properties up with good people that pay their rent. Once he experienced what worked and didn’t work, he started to buy and own properties.
Early on, Ken had a competitive advantage by working for a property manager and getting a real estate license.
“The license itself is not necessarily needed to do transactions, that’s very true. But the knowledge that you get from the information I think can really help.” - Ken McElroy
Now, Ken is up to a billion dollars in assets, still looking to buy properties, and running his business while navigating changes due to COVID and communicating with tenants.
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