Or is that – are you saying this is a tale of two worlds? You know, I’m talking about hotel chains and things like that. We’re all strapped in in these Tomcars. I’m just – but I understand real estate. But then, the YouTube is just Ken McElroy. Lots of people making that transition. And a good friend of mine, Mish, just escaped from Chicago and to your U-Haul story, he had to wait three weeks to get one. But a lot of my friends are not doing so well, you know, depending on, again, the properties that they have. And my only – I have very simple criteria. At the tier 1, 2, and 3, right? But to me, Ken, the real engine of the country has always been small- and medium-sized businesses. I’m really happy to welcome to the program Ken McElroy. And there’s a lot of money to be made in the next three to five years, you know. But why don’t you lay that theory out for us there? And as you know, I talk a lot about COVID. Ken serves as an advisor to Robert Kiyosaki of The Rich Dad Company, and he is the author of the bestselling books The ABCs of Real Estate Investing , The ABCs of Property Management , and The Sleeping Giant . You know, people should be where they want to be and they should not have housing as an obstacle for them. And so, all that’s happening and so, I think you’re going to see a massive amount of inventory next year. And then, so, I started small with a two-bedroom, two-bath, and just grew from there. Hello Select your address Gift ideas for Dad. Real estate is not complicated. It’s inconsequential from a lifestyle standpoint, you know, on what you want. You know, so, I was in the billboard from zero. And you know, if they’ve got student loans or a kid is paying for it themselves and working two or three jobs, they’re going, “Why would I do this? But then, the YouTube is just Ken McElroy. So, is that condo? But we felt like it was peaking, actually. And I believe at that point, Chris, the forbearance stuff has to end. You showed us a wonderful time. You know, obviously, I didn’t need an investor for that but the money shows up. And I think that as you start to see that, you know, going out and doing something like you have and just being more sustainable, more off the grid, and a little more unplugged, I think is a very, very good idea. Ken McElroy is the epitome of the word entrepreneur. Is my employer going to hire me back? And they’re trying to do their best but it’s just they’re not really learning over Zoom. They’re just not paying. I just think it’s everywhere, I really do. Twitter. Ken McElroy: Yeah, yeah, I was completely lucky. And just go subscribe. Ken has 20-plus years of experience in real estate investment analysis, property management, acquisitions and property development. And then, so, for the next six months, if they keep – they have to prove hardship and then, layer that over with the non-eviction thing, which Trump kind of started, you know, back – he said, “Listen, no evictions through October.” And then, the CDC came out this week with, you know, “We’re going to kick that down to the end of the road.”. And so, there’s all this stuff happening. So, you can literally – and U-Haul knows, of course – you know, if you’re moving from Massachusetts to Arizona, that’s data. So, like think about it. But I really enjoy systems and figuring stuff out and doing things a little better and trying stuff. You know, started a management company and then, I started buying single-families. And so, that’s real real estate that’ll be sitting there at some point owned by somebody – somebody else, the bank, you know, who knows? What impact is the coronavirus having on that market? That’s income for you. It’s both the places being left and the places being gone to. It was a great billboard along a great road that had – it wasn’t even thought of as a use. And I think – that’s how I see everything. You want to wait until it stops. Even my partner, Ross, I haven’t actually seen since February. So, they can tell me that food inflation’s 1.8% but I can tell you it’s not, right? And there were thousands of people in that category. I know that, you know? It’s certainly a very complex business to run. is a "how to" guide for living well no matter what the future brings. Free shipping and pickup in store on eligible orders. So, I moved into this place. You know, they’re like, “Well, what’s the occupancy?” “Well, it’s 96% in the nation.” Well, you know, it might be 75% in Detroit, you know what I mean? You know, you start to look at the unemployment and then, you start to look at forbearance. How can people find it? So, I want to be real clear when we’re talking real estate, it’s not like we’re talking about one thing. I’m thinking a lot of colleges and universities aren’t going to survive this. Because they were already in big trouble with the direct-to-consumer stuff with Amazon and, you know, now Walmart and Target, everybody’s trying to catch up to Amazon. I can understand it, it makes sense. Ken McElroy: Yeah, yeah. That’s just super simple, which works for me. Addressing the hard choices forced by the 'Everything Bubble', A cascading loss of faith in institutions, Dr Rich Stagliano breaks down the key steps for success, Accessibility Assistant | Accessibility Statement, Ron Paul: THIS Worries Me Much More Than Covid. Their plan is to keep printing and hope it all works out. Twitter. And I wrote a piece about a year ago way before COVID, of course, and any inkling of it that said that I thought we were going to start in one of the largest back-to-the-land movements in history. It’s interesting. Chris Martenson: No, there’s a lot of people who are very interested in this lifestyle. But then, you throw the COVID thing on there, you know, we had residents with COVID, we had employees with COVID. They’re looking at affordability issues, of course. You know, the restaurants that maybe sat 100 are not seating 50. Because you know, like Twitter, Google, SalesForce, you know, these big companies that have thousands and thousands of employers so, you don’t have to go back. You know, when people buy stuff, you know, they’re at home and they order it in a couple minutes and then, they go do what they’re going to do and it shows up on their door. So, you had all these people – right now, we’re close to 3,000,000 people that have not paid their mortgages that are over 90 days delinquent, okay? And so, after about a few months of just busting my butt, I had a construction background. These are the words of the great Ken McElroy, who’s like the guru of real estate investing. I thought – I actually – you know, COVID, like I said, it just kind of made it happen. In an Interview, Robert Kiyosaki and his friend Ken McElroy share some of the real estate investing strategies to buy with no money or how to buy real estate with no money for beginners. But they still have all these expenses, you know? Now, it’s got $20,000 to $25,000 yearly tax bill. It’s going to be interesting to see how it all settles out. So, I’m out of that. You make me unbelievably proud~ And so, that is data that is already out there. You’ll see busts in certain places and booms in others. This is crazy. So, well, a few things. Yeah, there we were riding around and you took us to a place that you had up in Sedona Canyon. Because I don’t know if you remember the student visa issue where the student visa issue basically said there’s a – there was a condition in the student visa that said you can’t – so, if an international student comes over to the United States, they can’t take their classes online. It’s what nobody else sees. And you know, people can now be where they want to be. We’ve had a little disruption around our student housing because of the Zoom – you know, it’s not a direct experience anymore. You know, but so, one of his businesses is dog crates. You know, so, you have that, you have others that aren’t worried very much at all. So, maybe it’s not for everybody. What do you got? I’m just going to share my screen here real quick. And then, there’s different areas of Detroit, for example, that might be worse than others and better than others. you’re going to see massive, massive outflow from what I would consider to be high-density cities. It’s honestly, Ken, why I’m not all that pessimistic. Ken McElroy: Thank you. Ken McElroy: That’s exactly my point. Because you had dorms that had two people in them and now they have one, as an example. As we just mentioned, the back story was it was already on the way here. Can a bunch of buildings have a heart and soul? And you know, I bought it in 2014 when the market was down and I just brought it back to life and sold it, you know, for, honestly, a couple million more than I paid. Ken McElroy: The Coming Real Estate Crash Of 2021. And we had so many people that were clamoring to help work there. And the stock market scares me to death. So, you know, in a lot of the rural areas, there really weren’t booms. Chris Martenson: That’s the license plate reads, “C student.”. I’m telling you, you know, those markets – whether it’s New York, Chicago, Seattle, Portland, whatever it might be – those markets are – definitely have a massive outflow happening. And so, that’s just how it works. I mean, as you know, I’m blessed. Ken McElroy: Yeah, oh, yeah, man, I’ll tell you. Brian Brooks OCC Interview on Crypto and Banks, Video: “Unmasked – Have we uncovered the truth about the 2020 election!”, Ken McElroy: The Coming Real Estate Crash Of 2021. It’s just, you know, on the water, great value, breathed some life into it, and sell it to the next person, you know. Real estate is the most tangible of them all when you get right down to it as far as I’m concerned. And so, you know, they’re just not paying. People want to invest with us because, you know, of all the things I just mentioned, all the things that we learn and the team that we have. So, you know, that’s happening all over the place. Best Podcasts Recommended by us. It’s September 2, 2020. I mean, my buddy asked me while I was in college if I would manage an apartment community. They’re getting their checks. I was out of cash. So, that’s Adam in the back and that’s you in the front. They can’t kick it down the road. I’m up in Northern Idaho right now. That’s what I see. And I’m thankful to the real estate radio guys, Robert Holmes and Russ Gray, for pointing out to me that real estate is not an asset class. Well, I’m really more interested in decoding finance and economic matters because those are the ones that impact all of us. Today's unsustainable way of life is ending. I’m having a blast. So, yeah, you’ve really got to – when you’re picking a place, consider the tax base very, very carefully because [interruption]…, Ken McElroy: Yeah, it’s a big deal. Can a market crash cause banks to become insolvent? Myths of real estate investing: you have to be wealthy, big deals are too risky so start small, flipping places or using no money down will get you rich, some people are just always lucky, you need to know everything, you don’t have time, you need connections to start, and you need to be a skilled negotiator. Both the mortgage is still owed and the rent is still owed. Ken McElroy: Yeah, yes. We were looking in New Hampshire and Massachusetts, two whole states. Oh, yeah, you remember this? Or how much savings do we have? So, you know, as you’re looking, make sure that you’re really in tune with that. And I think real estate is low-hanging fruit so, I would let your listeners know that that’s something that they should be considering over the long haul. I don’t understand how Apple is allegedly worth more than the collective companies in all of the UK, I don’t get that. Because, you know, I talked to the girl that we have working for us right now and she’s like, “This is my dream job.” I go, “Really?” She’s like, “Oh, I studied this, I dadada.” And so, she comes with all this knowledge. “Real Estate Strategies with Ken McElroy” is where we discuss a broad range of ideas and strategies that real people have used to find financial success. Chris Martenson: Absolutely. So, for people who are really inspired by it, it’s a beautiful, beautiful spot. And that’s why the market is high. Chris Martenson: Yeah, well, this Zoom thing is great, right? People are like, “Why is it going up?” Like it’s inflation, right? And I think that to your point, not all real estate’s on fire, you know, and there are lots – this is a big country and there’s a lot of stuff happening all over. Write CSS OR LESS and hit save. Ken McElroy: Yeah, we still own that resort. Discussion mostly centered on real estate but extend out into mindset, entrepreneurship and best practices for business success. We were literally 100% collected before, we’re 100% collected after. I mean, things are on fire right now in the rural sector, you know, for these off-the-grid type stuff. It just basically pushed them right out, you know? And you know, I just started doing that, the “print our own silver” with our own logo on it and you’ve been doing that at our employee events, our investor events. And the Ohio State football team brings in $500,000,000. I’m not kidding. They basically – you can’t go on campus and all the dining halls are closed. 0. Learn how to invest real estate with no money down by Robert Kiyosaki. I would get that same urgency other people do, you know. It’s a big deal. You know, and I think a lot of people are super resistant. And then, I just started my own firm. I put an easement around the billboard, sold off the land for a little bit less than 300. They’re making decisions. You know, so, that’s all going to show up, I think. Anything that has to do with the airlines, for example, airline mechanics, the pilots, and those kinds of things; trouble. One, you know, so, we’re in the multifamily space. So, just the adjustment process is going to be really hard for people to get their minds around this. And so, and that goes back to what we were talking about with you earlier and you already did that. You know, these are all they do. And part of the reason for that was I thought, “Well, if the whole trend up to now is people flooding into cities, what if that ever reversed?” And it was centered around my own personal property search, you know? If you aren't excited about real estate development and being part of building a community, check out our latest project in Tucson. You know, I started buying billboards, by the way, and those have been great. Literally, you know, where you could drive through, okay? Real-Time Episodes being played now. But you know, I’m a cycle guy, Chris, and that’s why I loved hanging out with you and Adam. One of the most successful real estate investors we know, Ken McElroy, says that covid-19 is accelerating and exacerbating a bust cycle that was already in the making. Kathy: It’s truly an honor.Since I began The Real Wealth Show, it’s been my goal to be able to interview people that normally I would never have the chance to meet with.Let’s start with just how you got started as a master apartment owner. Chris Martenson: Yeah. Ken McElroy: No, yeah, right, yeah. But they got in trouble and the Fed started bailing them out. And you know, when I’m talking about new money, I’m talking private equity, big institutional equity, Blackstone, Goldman, you know, giving all kinds of people money to buy apartments and just kept it going. Well, you certainly have your finger on the market and understanding where all of this is really going. And I’m like, “Man,” you know. Real estate is very much a demand and supply business. It’s just a little different, you know. I think that’s going to be playing out all over the place. And they’re looking at weather amongst, you know, other things. You know, am I going to come off of furlough? And you know, as you know. I think that that’s low-hanging fruit for them. It’s really that good. I think that we’re facing one of the most difficult, if not dangerous, periods ever because of all the money printing the Federal Reserve is doing. ‎“Real Estate Strategies with Ken McElroy” is where we discuss a broad range of ideas and strategies that real people have used to find financial success. So, all that’s happening. Achacha now ready. So, that’s what that video is about and it’s gone viral, which has been great. Chris Martenson: Well, and thankfully so because it led you to property management that led you to where you are. And I said, I asked him, I go, “How much do you think you can get for that?” He goes, “Probably 40, 50 grand a year, you know, with the right advertising.” So, I obviously put it into escrow. Do you see that coming back? Would it be fair to say that some cities might get in trouble around this? So, those are kind of the three buckets. You know, we don’t pay her a ton but to her, she’s like living in the best place on the planet and she’s providing food for our guests. 158 talking about this. With over $750 million investment dollars in real estate, Ken offers a unique … And so, that’s what that video did is said, “Listen, here are the numbers. And by the way, we’re not going to communicate with you at all. Just it’s ridiculous now, right? And that was Bucket 2. It really is. But in honesty, it didn’t cause any of the things we’re seeing. People are questioning the college – the cost of college education over Zoom. You know, I certainly would. And I think a lot of companies are starting to figure that out that, you know, they don’t necessarily need to go someplace physically. Ken is the author of the best selling books The ABC's of Real Estate Investing, The Advanced Guide to Real Estate Investing and The ABC's of Property Management. So, they don’t calculate it all the way up. So, I said to Russ, I go, “Hey, I want the billboard, I don’t care about the land.”. I don’t know, very comprehensive [laughter]. And you know, the sports program’s got $110,000,000 revenue sort of a situation, which is like gone. Maybe…. If you hold my mortgage and I’m not paying you, you’re in trouble, you know? There’s Adam and I and we’re much younger in this. But really, what it comes down to has been it’s just you’re a hard worker and you’re diligent and you’re thoughtful and you’re conscientious. So, they cut like men’s swimming and women’s diving or something, right? You’ll see properties that are going to go back to the banks. But if it doesn’t, look out below, right? When you see things that are broken and that are in need of an injection of money – and sometimes you can spend too much, sometimes you can overpay, sometimes you buy in the wrong spot, sometimes – you know, it’s what I call “catching a falling knife,” you know? I love your mind and the way it thinks and it just thinks so differently than mine. So, we have about 1,500 high-net-worth investors and we have just north of a billion dollars’ worth of real estate right now. I was really blessed to be able to learn the operation side first. I would try to figure out; how can I get my living expenses down and reinvent myself, whatever that might be. And then, big retailers are saying, “Sorry, we’re not paying.” And you know, and the landlords are sitting there going, “Well, we own the center and you’re in it,” but they’re saying, “Well, we’re closed.”. And so, you’re going to see massive, massive outflow from what I would consider to be high-density cities. So, all that’s happening. One of the reasons I really like hanging out with you and the real estate guys and all the other crowd around this because everybody there’s an entrepreneur and entrepreneurship is about adjusting quickly, right? Ken McElroy: Sure. You know, I think San Francisco’s going to really take a shot. And so, there’s no shortage of people that are really smart that can help me navigate all that stuff. That’s income for you. WhatsApp. Chris Martenson: Hello, everyone. You know, when a renter doesn’t pay me, then I can’t pay the bank and then, the bank puts me in default and then, the bank owns the real estate. Playlists Playlists from our community. And then Trump said, “Listen, no evictions through October.” So, right now, we’re close to 3,000,000 people that have not paid their mortgages that are over 90 days delinquent. So, we did all that in just a couple of weeks. You can see where people are going. What impact is the coronavirus having on that market? And you know, we bought it because it had water rights. I think that’s what you should do on every piece of real estate. Discussion mostly centered on real estate but extend out into mindset, entrepreneurship and best practices for business success. It looks to me like that could be fairly sustainable. And I look at numbers, you know, just like you and I’m like, “Well, I’m going to sell now.” And I’ve made enough so, maybe it goes higher. But then, with COVID, he’s like all the shelters ran out of pets because everybody went out and got pets and that’s a good thing, he said. Are you going to change that? So, I was like, “Okay, now I’m going to have to figure out – I still am finding deals and the cash flow but now, I’m going to have to figure out how do I get the money?” And that’s when I learned how to syndicate, put groups together and find people that had confidence in me. But I’m looking at places like Chicago like that university story where they can’t quite figure out how to trim this massive budget. If I’m still not paying you, you — the landlord — are in trouble, you know? Linkedin. But then, I think people are going to start coming back to normalcy next year, hopefully. And you know, it’s just more thoughtful. I’m having a blast. Eco Real Estate provides a range of real estate services to protect, conserve and promote environmental property for sustainable living. So, if there’s a lot of people that are going to a town that has very limited housing, then of course, you’re going to have a very, very robust market through all this. Because housing is a massive expense for an individual and property tax is part of that, not just the debt payment. You know, we’re collecting in the 90s – the mid to high 90s – on most properties with the exception of a couple. Let’s get together – let’s Zoom after this and just have some more of this chat. But the other thing is they do that with vacancy rates, occupancy rates, rents, rent growth. But that was, yeah, that was a lot of fun. And I think there could be some really good real estate implications around all this, you know, I really do. And we’ve already seen a little bit of it, I don’t know if you’ve read. So, we’re in pretty good shape as a company but I think that has largely to do with where we bought the properties. And fantastic video. So, how do things look in your space? And that’s, I think, hopefully, a wakeup call for a lot of folks. Listen to this week’s show and learn: 02:00 Keith cannot think of a greater contributor to real estate investing education this generation than Ken McElroy. Not that you needed to but you did it for other reasons. I think Chicago’s going to be just a poster child for a place where they have all these government workers and services and they’re going to – they want to keep all of them running, they’ve got great stories for why every single program is essential.
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