Prepare Now Before It's Too Late

Ken McElroy and Danille McElroy discuss the mistakes that real estate investors and syndicators have made during this economic change. They explain the areas that Ken sees and what you can do to avoid these same mistakes.
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ABOUT KEN:
Ken is the author of the bestselling books The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABCs of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: mccompanies.com/
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DISCLAIMERS: Any information or advice available on this channel is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this channel. Consult a financial advisor or other wealth management professional before you make investments of any kind.
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#KenMcElroy #RealEstate #RealEstateInvesting

[@JohnDaniels]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson

[@reza2251]

👏🏻 👏🏻 the creature from Jekyll island is out of control.

[@johnl9977]

You miss the boat bro. The wealthy have been given everything by the Republicans, nothing for the people. They are buying up all the real property with this largess, because they are able to deduct everything associated with it and even depreciate it every year, which basically gives them the property for free. A "little people" who buys a home, cannot deduct repairs or maintenance, cannot depreciate the property every year. Republicans have the wealthy getting the properties for free, so yes, they buy all the properties available and raise the rents to the moon. They do it because they can.

[@lesliesmith7312]

A guy in my area bought a bunch of duplexes and told the renters the price was going from 900 to 1300. Most of the renters moved out and now half his duplexes are up for sale again because he couldn’t fill them

[@ramonlopezaguilar]

Where?

[@abel4776]

Indeed, one must drop rents below averages and if one does not cash flow, don't buy the property.

[@parkerbohnn]

Where I live a tent in the backyard rents for over $1,000 a month. A closet rents for about $1,000 a month. I live in Canada.

[@mikesmith-nj1ij]

​@@parkerbohnnVancouver? Brampton?

[@mikesmith-nj1ij]

​@@parkerbohnnVancouver? Brampton?

[@omega36001]

My debts are all paid off and I’m just racking up treasures in Heaven now per Jesus for eternal treasures❤

[@allphaselandscape]

In addition to being a small time investor, I own a commercial landscape maintenance company and I can tell you that I am seeing apartment communities become slow payers in this environment. Easy to see they are feeling the crunch. We aren't even marketing to them anymore.... Focusing more on our University and HOA clients who are clearly more stable and don't have the same challenges.

[@Tkenny35]

I've been doing airbnb since 2017 so I saw the transition and market saturation. 2017-2019 were the glory days. I made a lot of money doing airbnb and since 2020 every year Ive made less and less. I still do airbnb because I do not have a mortgage on my rentals so I still cashflow but I will say the competition is so high now I noticed if you have a mortgage or did rental arbitrage you'd make 0 money or barely any cashflow.

[@flashoflight8160]

Lucky your town hasn’t banned Airbnb outright. You can’t dodge code enforcement because they are looking to bust you.

[@AzElenee]

That's good for those of us that got into it a long time ago. Those properties will now be selling and off the market.

[@marissakeynes2532]

It really is dog eat dog world. ​@@AzElenee

[@edwardfiorvante6123]

What happened in 2020?

[@edwardfiorvante6123]

✋ I FIGURED IT OUT! Biden got elected!!!

[@junkercars]

Price cuts will do nothing for average people.... Because there is so much fiat floating around all the people who have control of it will swipe everything right up

[@eddiemalvin]

Agree 100%. Not only do investors have the available cash reserves, they also have the mindset and risk tolerance to react quickly. When the housing correction comes, investors will snatch up most of the deals while average people are busy patting themselves on the backs for avoiding the crash.

[@user-vb8yf8be3l]

The good part is property tax will be less

[@DurtymaxJack]

KEN, YOU ARE THE MAN! Love that you’re doing this and what you’re doing!

[@HarryPotterFan1307]

Love this channel. Love your knowledge.

[@conormcconnell3578]

Hi Ken, I’m a commercial property manager who manages a portfolio of 13 commercial properties for real estate investors. I’d love a video focused on your tips of the operations side of management. As you’ve said, exceptional management will be what sets people apart in the coming years. I’d love to see a full video explicitly on your tips to managers from your years of experience. If this is something you already have, can you point me in the right direction?

[@__UNKNOWN_______]

Retain tenants with stable income Avoid raising rents to cover operational cost Experiment rate hikes with new tenants Consider either outsourcing maintenance with trusted parties or hiring part time employees based on volume per month and cost effectiveness Avoid stuff needing frequents remediation, no trees no leave blowing, plant them elsewhere. Unused ammenities, shutting down pool in winter etc. Tenant happiness, timely addressing their issues, make good tenants stay longer. No cost perks bring in a taco truck on Tuesdays earn commissions. Bulk contracting - roofing, sidewalks, painting, carpet all services to single vendor to get discounts. God bless and all the best.

[@racsop70]

Have you looked into CAM certification? Would also love a video from Ken with his tips.

[@ashog1426]

Good work man

[@MAZDAKPRODUCTION]

Commercial properties are very Regional but mostly are going to go down bad

[@evanseymour4172]

@@__UNKNOWN_______ Good List. I manage my private fleet of rentals. Your advice regarding trees is gold.

[@ronkellam8184]

Concerning using gold for buying a property, you can show the bank the receipts that you paid for the gold with the dates. You must have these receipts for capital gains tax purposes. If you don't keep the receipts, how can you prove to the the IRS how much you made or lost. The receipts will show the dates of purchase and the price paid. That's the paper trail.

[@gregoryhoefer3660]

These shows help keep me grounded. Thanks.

[@MrBadGov]

When Blackstone bought Tricon for 3.8 billion last January, they got 38,000 units for about 100k each. When they bought 75 high rise buildings from AIR for 10 Billion in April the per unit cost the (27,000) unit cost was more like 370k.

[@adam4637]

Your incorrect

[@dorothydombal6853]

Thank you for all the help! God Bless!

[@derekpeeverconn]

Great advice as always thanks for leading through a challenging time

[@o4pureh2o]

We've probably all been over exposed especially at times of fast growth. Real-estate is such a versatile and forgiving vehicle for wealth. Great advice 👍🏻

[@bombbbesttestt23]

Been taking ur education and advice since 2021 and you put me on ❤❤❤

[@Jose-sy1je]

Be glad you didn't take it since 2020. You would have been ruined

[@leannTilford]

You guys are very smart , and you know what you are talking about… I owned 12 rental houses ( 4 pay off … still own 8 ) I really enjoy and feel like I can get smart in real state listening your program. Thank you ( I live in a small town ( in Marion IN )

[@jackgoldman1]

The government actually does default, counterfeiting IOU to debase the currency and default at the rate of 6% per year.

[@brycehuff]

Sounds like a great time to get into property management. How would you suggest someone go about doing that the right way?

[@suprajajs]

I have a condo in a great neighborhood which needs special assessment dues that need to be payed on top of a $502 HOA. We want to get rid of the condo. But I am torn between selling it now and waiting until a rate cut. What would you suggest?

[@cartagenadaniel1973]

With all the tight margins should I consider heavy on IRR more in any deals?

[@halemuhalemu]

Ken is Good man ❤

[@dhowto3005]

Thanks!

[@patmagic3301]

I think all of these problems are coming to fruition, just very slowly . Not necessarily a bell weather but I visited my dad in AZ who lives in one of those shared driveway but no shred walls single family HOA. All the homes have two car garages. I’ve never had a bigger problem parking than now and there are signs popping up all over. My dad was on the board and told me they had renters physically blocking tow trucks from removing parking violators recently. I can only assume that there are multiple families living in these single family homes.

[@user-mz5rv6dh2y]

You should talk about the FEMA FIRM changing in FEMA zone IV, including Florida. This Feb. My closing date was the same as when the map was published.

[@ReVelopers]

Explain more

[@DanilleAZRealEstate]

can you elaborate?

[@urplacem]

Good day what are your thought on mobile homes? Premanufactured houses as investments for rental units.

[@wattasay2370]

Too expensive still plus land lease! Buy an agricultural land, put tiny homes on wheels on it, much better potential?!!!

[@laronb.5801]

When is the price cut expected? Currently looking?

[@ant.8673]

It’s true, team onsite matters. You have to keep the tenants happy, and offer them competitive prices. So many new builds and offers are available. You have to be able to PAY for the right workers to staff the property. Which most don’t, even the big ones. Asking more from your employees, while paying them the same and being short staffed doesn’t work.

[@MrBadGov]

Rate cuts are a mirage. You will hear talk of them from people who are selling you mortgage products to buy assets at super inflated prices.

[@ironsurvival7011]

A rate cut would usher in hyperinflation. It’s the last thing anyone should be wishing for

[@legacyopp9318]

Oh, we know who those guy's are. He's a salesman

[@douglaspollock102]

And yet a mortgage at 4% is more affordable than one at 7%. It affects buying and selling in the market.

[@benjay8178]

Hi Ken I would like to join too investor Summit cruise Can you please send me to link the website is not working How to be found out what’s the requirements and how much will be? Thank you

[@AS-kq7hw]

Great questions! The Q&A is the best part of this livestream. Also Danille telling Ken that he is getting ahead of her topics list 😂

[@Dunnpopo]

I believe some buyer need to establish a buy box. Since 2021, I have purchased duplexes and quads in Ohio. My buy box follows two key rules: a 10% cap rate and 35% loan-to-value (LTV) after rehabilitation or when buying turnkey properties. I exclusively invest in value-add properties and ensure that agents never pressure me into purchasing. I've been successful in refinancing loans after completing renovations and achieving full occupancy.

[@sangeetkhalsa3341]

Congrats! Exactly as Ken says - "buy for cashflow, not capital gain". You have proved that if one sticks to sound principles, this still works.

[@kenhornbuckle971]

How do you buy with 35% loan to value? Do you just find a property and have it appraised and compare it surrounding property. Thanks in advance.

[@Jennifer_Collins]

Yep.

[@relaxandlivelife7093]

Can you do a video explaining multi family loans ?

[@hernanrey3150]

Great talk and Info. keep it coming ❤

[@solskengroupllp2758]

Ken, the median income of American income is like $79K. You have to earn $120K to afford a house, and even then it's a crap house. No one is going to be buying houses anytime soon. Please, please drive through a working class neighborhood and count all the cars parked out front of the house. There are 4 to 6 cars. People are broke. They can not afford a house. The price could drop 50% and people still can't afford these houses. Wait to the layoffs cascade at the end of the year. It will really get interesting.

[@HelloCurve111]

Yet, 75,000 people are walking through the jungles of central America & the desert of the southwest to get into this "broke" country

[@gentronseven]

That'd be amazing if it happened, we need the recessionary bust of the boom bust cycle to make things make sense again

[@anutkaschannel2478]

All these busts expectations what Ken called assumptions 😁

[@kennethkirklin6959]

That's because they'll buy cars which are depreciating assets way more often than appreciating assets like RE.

[@racsop70]

@@kennethkirklin6959or more people are moving in together to afford the rent or mortgage.

[@shanshansenlightment4985]

Interesting info

[@scottkidd1969]

Great discussions here. A lot of people are speaking about the rates and inflation. Not many are discussing the root cause of the amount of money pumped into the system in the last few years. Inflation will not really come down until the money supply is reduced and rates stabilize. We are still roughly 7 trillion over pre COVID amounts of the M2 money supply. However if things get bad more money will be printed and the rates reduced, that has been the pattern. This will have the opposite effect, more spending, growth and more inflation. Hopefully we hold For the moment.

[@tituspullo3946]

The cap on ARM's is something like 5 years if I recall, so I don't see that being a problem for people yet. I went ahead and did a fixed in this market. Under FHA, you can do a streamlined refinance and avoid new closing costs when rates drop. That seems preferable to fighting against astronomical demand trying to enter the market in a low interest rate environment.

[@AzElenee]

Problem for commercial RE.

[@moviehipster]

All hail team McElroy! We love you! Keep pointing us to that north star!

[@reedjack6564]

oh sweet, we are going to get a price cut! Instead of being impossible, the prices will be juuuuust doable and i'll still be in crippling debt for the next 30 years unless I hit the jackpot or take on a side gig.

[@jasonf9916]

Its not seller problem that interest rates are up. Cap rate is based on cashflow before mortgage correct

[@legacyopp9318]

I'm dealing with an underwriter this very moment. Funds were in a cd. I closed it and showed funds available. They want to see proof that this was the money from the cd. I showed the origination of funds and the transfer into the cd, but still.

[@jackgoldman1]

Why can't people just admit and agree their lifestyle has to go up and down with time as the world changes. What is good for sellers is not good for buyers. There are winners and losers, all the time.

[@rccpromotions]

Good point

[@angelaavaoracle8183]

Great video. I wonder if the same trend will happen in Canada

[@stevenap4594]

Yep. It’s not just regional. It’s a global issue.

[@arboradvising6291]

Thank you Ken, Danille, and team for more relevant and data driven content. Agree that mistakes are made when you assume anything and basing investment decisions on the market conditions in the past without looking at the present and the ripple effects of those trends in the future and potential affects on your investment. Thank you!

[@mariazelayaforevertattoosh8311]

You guys are the best 😊

[@amabledunn4189]

I am a small investor my renter is leaving I still have 80 k mortgage left. I am putting 250 out of packet every month . So I am selling as soon as tenter leaves . Is this a good idea?? Love your video. 🙏🙏 thank you 😊

[@yoyomawh4091]

Keep it coming Ken, sometimes the truth is dry but I’ve got a cup of coffee to counter 😉

[@alexmack956]

Redfin says real estate is currently at all time high PPSF

[@cristianverdugo5304]

Hello Ken! I bought a 1/1 last year as an investment. The unit is rented and I’m doing a 5% ROI. Banks are giving 5% in a high yield savings account. Should I sell this property and put the money in a high yield savings account, and wait for prices to drop in real estate to buy again? (The property is in Miami, FL)

[@DavidCosta-nl1vo]

I have a property (condo) I bought 2 years ago in Canada. It's not worth more and im negative cash flow by 1800 dollars a month. I can afford it but should I unload or keep it. I am on a variable mortgage. What do i do?

[@parkerbohnn]

Don't sell it rates cuts will push prices into orbit. The Bank of Canada only exists to cut rates. Price will rise double digits this year.

[@toddmcdonald9838]

Excellent

[@christschool]

There is no bubble in commercial office, where did you get that from?!!

[@stephaniesoutherlandrealto3442]

Ken, with these “teaser” buy downs, the buyer has to qualify for what it will adjust to as well, at the time they are getting the lower rate. Maybe they are just not liking this higher payment, but they had to qualify for that when they were getting that 3-2-1 or 2-1 buy down. Maybe their job situation changed, but the lenders required they had to qualify for the higher rate at the same time. It was a nice to have in ‘hopes’ that rates were going to be going down.

[@DanilleAZRealEstate]

Yes, they do have to qualify, but qualifying and affording are two different things. Some of them aren't ready for the hike and don't want to be house-poor.

[@bones8057]

How the heck does anyone screw up RE investing when interest rates were 2-3%?

[@dougiep2769]

75% in the forst crash in az and fla. Its more pumped this time..

[@traceysweeney5787]

Single family homes are unaffordable to the average family. The cost of insurance, the cost of utilities on top of home prices. Many sellers don’t want FHA buyers because the hassle of dealing with the lender requirements.

[@emilybudnichuk5690]

How does he not know what seasoning requirements are?

[@KarenEssential]

We have paper trails in Canada on Gold and Silver so not sure that same rule would apply.

[@danmulvaney4580]

Just sold in a week, 12% over asking. 15 offers in 4 days. Loving this crash…!!!! 😂 😂😂

[@Vera-xu3xw]

Where?

[@danmulvaney4580]

@@Vera-xu3xw Jersey Shore

[@taylormx721]

Troll

[@eddiemalvin]

Our neighbor went under contract in 5 days with a full price offer for 17% more than what we paid a year ago for a larger house with more bedrooms and bathrooms. There's no harm in keeping an eye on the national market but all real estate is local.

[@zanerobloxgamer1665]

Great video - on the flip side there are a ton of us who bought 5-10 yrs ago sfh’s at 3% and still getting 25-30%+ return and printing money..

[@cremls]

Still not reflective of the intrinsic value... Regardless of how much it comes down, or how much the seller loses, the prices were 40-65% OVER intrinsic values.

[@user-ob4em4ge6c]

Condo values are declining rapidly in Florida and Massachusetts

[@getinthespace7715]

I'm building my own place. I can build for 30-40% of the cost of buying an older rundown place. I'll use that equity to insulate me from any crash.

[@danrich73]

There’s historically low inventory and you guys are talking CRASH. ok.

[@nickyRavioli]

Look at the Title here - 100% clickbate.

[@eddylauterback1312]

1000% clickbait

[@nimblep4531]

or maybe, just maybe, it ain't

[@lestersitotrying6841]

Ken if want to hire your company to manage my properties how do I found you?

[@DanilleAZRealEstate]

They inky manage properties in the MC portfolio :)

[@Hot_Stank653]

The price of a bottle of mustard is up 30% since last year at my local food market…..😮😮

[@madelineortiz6648]

No renters in tx and fl

[@Susanhartman.]

Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.

[@mariaguerrero08]

The housing market in 2024 poses difficulties due to uncertainties about the Federal Reserve's ability to curb inflation and reduce borrowing costs without adversely affecting demand for assets like homes and automobiles.

[@ThomasChai05]

Consider shifting from real estate to stocks during severe recessions. While market volatility presents short-term trading opportunities, it's crucial to approach with caution. This isn't financial advice, but investing during such times may be a strategic move, consider adopting the services of a financial expert.

[@mikegarvey17]

I fully agree and place great value on my advisor's role in guiding my daily investments. They excel in both long and short strategies, managing risk for potential gains and protection against market downturns. Their access to exclusive insights and in-depth analysis makes exceeding expectations a regular outcome. In the two-plus years I've worked with my advisor, I've gained over 1.2million dollars.

[@CliveBirse]

@@mikegarvey17who is your advisor please, if you don't mind me asking?

[@mikegarvey17]

"Gertrude Margaret Quinto" is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment

[@Rust_Belt_Capital]

Free Cash Flow is KING 👑

[@aliceg1619]

Was Ken in Franklin Tn Sunday the 6th? If not you have a double!

[@DanilleAZRealEstate]

no he wasn't!

[@nolaneli295]

Real Estate investors or just all the businesses that took gigantic PPP loans and grants and bought up realestate with it. They’re playing with house money.

[@ryanwalthuis1928]

i know some one that got a 650k ppp loan and then bought a 650k house cash and their business boomed during covid

[@63mrl]

I have affordable rent, and I have a tenant that simply can't grasp the concept, of picking up her pet's stool, and it may cost her a move.

[@user-vd5lt9wv9t]

I felt limitless last year had too much single-family information and not enough commercial multifamily for me personally

[@cyrusm3391]

The amount of homebuyers under an ARM loan is minuscule

[@theodoroseidler7072]

Hearing you talking about what the banks are pushing is funny. Back in 2020 the basic interest rates in Brazil were at 2% and all the banks wanted was to lend at the basic interest rate (variable). And I thought: who in their right mind would sign that contract ? Of course, in 2022 those rates shot up to 13,75%. So, usually, what the banks are pushing is in their best interest, not yours (assuming the poor souls survived the contract to pay the banks).

[@Discovery123.]

Believe me, when lay-off happens house will drop 100%.

[@andrewmitchell7592]

It's true. Patience is the winner in investing

[@dougk2932]

50%-$80%

[@simone_maya]

With the guidance of my financial advisor, Monica Mary Strigle (my FA), I retired at 50, three years earlier than planned. Her advice to diversify beyond traditional retirement accounts like 401K and IRA led me to explore rental real estate. As a Limited Partner in a portfolio of 1500+ units, I generated passive income and accumulated wealth. Thanks to Monica expertise and tailored strategies, I now enjoy a fulfilling retirement without traditional employment. Her insights in real estate investment have been invaluable on my path to financial freedom.

[@Laissez_Faire]

What island does Konica live in?

[@Bradleyblendz]

Newmont mining stock is doing great

[@TomCarberry413]

The upcoming election may keep rates steady. Low rates caused a lot of nonproductive people to keep not producing.

[@davidjoseph9314]

If you one of those folks who bougth a house to rent bc you expected rent to keep going up, I am happy for you that what you get.

[@JohnDaniels]

Seeing home flippers and landlords lose their money warms my heart :)

[@JacobMoore-dp6lw]

Why? It’s not their fault blame the fed

[@ukjw2]

Will it warm your heart when the homes go vacant and decay…resulting in less homes which will drive up prices of other homes?

[@tess7798]

How cruel you are. I understand hating flippers, but renters? So you basically hate almost all young people? I repeat: how cruel.

[@MasterRoss-sn7dl]

Why renters?

[@Ali-ms4ir]

I think they meant people with rental properties and raising the prices for renters.

[@darktoadone5068]

I recently inherited a house from a relative and I put it up for sale because I already have a place and I didn't feel like paying the insane property tax on it every year. Thanks to inflation which Biden denies though, interest rates have gone up and a lot people aren't buying because they can't afford the prices, so I've had tons and tons of people lowball me like crazy and it got so bad I just took it off the market. People are insane thinking that I'm going to lose over $100,000 on a place, it's all about them.

[@dila98]

Not happening in socal

[@Tigornable]

Why would anyone assume (gamble) on such a huge investment 🤔? It's not like a $10 poker chip. It's literally like hundreds of thousands of $s.

[@parkerbohnn]

Pocket change.

[@Tigornable]

@@parkerbohnn 😲.

[@WmTyndale]

ABOUT KEN: Ken is the author of the bestselling books The ABCs of Real Estate Investing...............What about Danille???

[@sneekydealz]

“Hope is not a strategy…” Got that right. No Bon Jovi Livin’ on a Prayer with buying homes. People should learn a little bit out economics before they dump 350-400k+ on a home.

[@alefortune]

Danielle looks great like this!

[@_ALPHA_619]

Trust no one. 2008 over again? We’re fixed 2.25% 30 years. Bought November 2020.

[@mariazelayaforevertattoosh8311]

I’m in Washington state cash flowing my house. The property is on 1/4 acre and been approved for an adu on the property of 440sqft. I am first generation home owner, business owner and college grad. I need help to get an adu put on the property. I have no capital and my equity is tied up. Mortgage is low and I am cash flowing my home while living in it.

[@edwardfiorvante6123]

Most of people DO NOT KNOW THIS! WHICH IS INTERESTING. I sell cars and as soon as the proposal is laid out on the desk I almost always hear…… WOW the interest rate is rediculous or why is the rate you’re using so high? My credit is excellent! We explain and then always get this response. WELL MY CREDIT IS EXCELLENT SO I SHOULD GET MUCH LOWER! We explain again and the. We get well I’ll just go through my bank. Ok that’s fine but what rate were you expecting? I can get at least 4 or 5 percent! LOL

[@datastorm75]

"A lot of people would have been better off putting more down." Oh, hell! Lets just spend more money than we have! Why didn't I think of that?

[@phil7721]

The market will continue to be unpredictable. It is going to do what is completely unexpected and there is not a crash going on.

[@eddieruiz8469]

So no wise to put lager down on single family at this time?

[@Mike_257]

Except B. Corcoran!!!!

[@karenswanson118]

It’s now 8.6%

[@asktodd2000]

Nice tight haircut, Ken. I like it 👍 You look like a Navy Seal, did you serve our country?

[@sajayr9606]

Last video he said rents will be going through the roof starting 2025/2026 now he’s saying the opposite? 🤔