Your First Million: How to Invest with a Full-Time Job (with Joseph Chantry @your_first_million)

Getting your first million... what does it take? And can you really invest in real estate with a full time job? Join Ken McElroy, Danille, and Joseph Chantry (@your_first_million) on his journey to a high net worth while keeping himself grounded with a 9-5.
Huge thanks to Joe for being on this episode! Check him out here: / your_first_million
Gain access to weekly real estate updates, mini courses, sample forms, and more by signing up for a FREE Membership: www.kenmcelroy.com/free-member
Want to ask Ken a question or have him look over a deal? Sign up for a Premium Membership: kenmcelroy.com/premium/
Ken's new Master Course is LIVE! Looking to buy your first rental property or grow your investments? Click here to purchase Buying Your First Rental Property: kenmcelroy.com/rental-propert...
This is an episode of the Real Estate Strategies Podcast! Follow on your favorite platform for new discussions released weekly.
Apple Podcasts: apple.co/3jDqftx
Spotify: spoti.fi/31GUDwW
Website: bit.ly/2DaIoPH
Be sure to click the bell to be notified as soon as the next informational video is posted!
Purchase a copy of Ken's book, "The ABCs of Buying Rental Property,": bit.ly/RentalABCs
Visit Ken's Bookstore: rda-press.com/rich-dad-adviso...
• • •
Check out some of our recommended products! Please note: These are our sponsors & advertisers, so if you use them, we will get compensated. There's no additional cost to you.
For your banking needs:
➤ Business Banking for Small Businesses and Freelancers
🏦 NorthOne - Open a business banking account in 3 mins and get $10:
apply.northone.com/ken
For locating investment properties:
➤ What is Driving for Dollars? Driving for dollars is a more direct approach to finding wholesale properties than simply sending out emails to inboxes or letters in the mail. It’s the term used when you drive around a neighborhood that you think could house future wholesale deals, then document distressed properties to create unique lead lists. Oftentimes, it can be more profitable than other techniques. Ken’s fans instantly get $15 in credits with promo code KenDM!
dealmachine.app.link/kendm
• • •
•
ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s 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.
With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This channel is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income.
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/
•
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.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.’
Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel.
Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites.
All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate. Comments which are off-topic, offensive or promotional will not be posted. The comments/posts are from members of the public and do not necessarily reflect the views of Ken McElroy and his affiliates.
© 2021 KenMcElroy.com, LLC. All Rights Reserved.
#kenmcelroy #realestate #entrepreneur

[@DionTalkFinancialFreedom]

Thank you for this. Please do more “regular people make work optional” stories.

[@marvefleksnes6763]

But not today…😉

[@rifleman42051]

Talk about being humble and financially disciplined!!! This guy Joseph Rocks!!!!

[@sararlgarrett]

When you CHOOSE TO WORK WITH YOUR SPOUSE you become UNSTOPPABLE!

[@GooslinFitness]

Great interview!!!! I would love to see more interviews like this. Very inspiring and eye opening 👍🏼

[@marellasirdik6992]

Love watching your videos Ken! Great content! Thanks for sharing all the valuable information

[@sararlgarrett]

This is the EXACT SAME THING my husband and I did. We always pretended ONLY ONE of us worked.

[@jachmd]

Great talk. Congrats Joseph and Heather!

[@jzamudiorn]

Awsome interview guys! Thanks for what you do

[@darrinharvey2794]

This is a great one! I always learn watching Ken and his guest. Great stuff!

[@jeremiahmorris5519]

Thank you for the knowledge!

[@realestaterecruiter9746]

Great discussion. Thank you

[@401breaks3]

Just finished you book ABC's of buying rental property and this is the 1st of many ways I will start to follow you on social media. Great interview and very happy to have found your book. Just ordered a 2nd from your website!

[@dominiquecanon625]

Thank you guys!!

[@nohamohamed9837]

Great story! 👏 Greetings from Sacramento!

[@resachadley3135]

Nice video, thank you

[@clearviewproducts]

Good interview. Joseph, you moved from Sacramento to KC correct? Hindsite 20/20, if you picked one market, what would have been the better investment? The appreciation of California or the Hybrid/Cashflow of KC?

[@eliot5220]

Great talk. I like the references to basic qualities such as discipline, perseverance and commitment. Having a team in another market is the key. I’ve started in a close by market outside of Chicago to invest.

[@corythegreat13]

What are the best ways to identify"emerging markets"?

[@joeynuge7730]

Danielle coming from a gym sesh right to the pod looks like 😆💪🏼

[@Re3iRtH]

The gist of it is that they happen to buy in California at the bottom of a market cycle and rode the appreciation wave. The advice is decent but telling someone they had to be at the right place at the right time isn't that useful. I mean I did the same thing in Hawaii from 2011.

[@ssoffshore5111]

Good discussion! I'd like to point out though that while Joseph certainly had the right mindset, they both started with solid jobs out starting out, but most importantly, they were fortunate enough to begin RE investing at the all time low in the housing market coming out of the GFC. They certainly would not be so far ahead had they started out in say in 2004 or even today. With their careers and mindset, they would find their way, but likely would not be where they are today. Sometimes folks just happen to get a little lucky regarding timing. Again, good interview!

[@budala1969]

Exactly. Timing no doubt played a big factor in their success. Getting in today is not only difficult, but extremely risky. We're far above pre-'08 bubble levels. The massive inflation happening right now may prevent the bubble from actually popping, but it certainly won't help the unaffordability.

[@JuanGarcia-ek5bj]

Awesome Job Joseph . Your story reminds me like mine. Lots of things that you said I was like wow this is happened to me. Building my portfolio as we speak. I went out of state too, I have 2 properties in san antonio Texas and I am in California. No more properties for me in CA.

[@eds8633]

How much did CA capital gained in RE vs UT from 2013 to 2021?

[@joshuawheeler6466]

What are your thoughts/advice on starting out in Realestate /Realestate investing in new Zealand watching your videos very inspirational and education is great just need to know if it relates to New Zealand

[@emimarie6138]

I was super lucky with my first house... also an off-market purchase in a VERY competitive market. I now have 100k in equity since April 2020. No plans to pull equity on it yet... but I'll be doing more homework until my next move.

[@ryanthepianoman27]

That’s sick

[@arigutman]

Great video! For me, it all comes down to patience and consistency. This is to say that, no, I will probably not be a millionaire by next Monday and I should do away with my get rich by Tuesday mindset. From there I actually have a real shot at continuously building my wealth. Patience + consistency while investing in high quality stock opportunities will deliver returns more times than the risky one off shot at striking rich!

[@sonjagalyon-kamonika]

Just do the math. Divide 1 million by 365 days in a year. What is the daily number you need to earn? What type of work can you do to earn this daily amount. The other option is come up with a 10 year plan to 1 million. You can do it.

[@jimross2101]

Net worth is defined as assets minus liabilities, but they seem to conveniently forget their loans they still need to pay back.

[@sararlgarrett]

@Ken can you better explain the housing bubble pattern in Seatte, and it's submarkets? Do you believe the submarkets of Seattle (Tacoma) is a good area to invest?

[@markwegner6100]

Don't be lazy.

[@rachelevans3149]

I live in Ogden and I’m wondering the same thing I think Utah is growing my biggest question is for the next 20 years will it still grow

[@phillbenitez4216]

No, the market is up and down , and this is due to different factors. You have to check the factors.

[@ei8htb8ll]

I love stories and all, but can we talk about this guy's story where prices were affordable back then to right now where someone who wants to start out now, are making $20 an hour and wants that same starting house at $195K that's now at $450K? It's so far out of reach when you're at the bottom

[@lovelife6182]

To get ahead, you need more income to save that 20% required to buy your first rental property. Don’t buy a personal home, you need to rent. Hold the rental for 5-10 years until you can cash out the equity and use proceeds to buy a 2nd property. Only buy rentals that cash flow. You can do it!

[@spottss]

I guess for multi millionaire a nurse and sherif are considered low in the income scale. But to average folks a Nurse doing $40 an hour or more isn’t that bad a gig . Also and apparently they did a lot better than a house and 1 rental property for $700,000. Didn’t he say he got a triplex for $147k or something to that effect? Here you can’t even buy your cars garage for that.

[@Re3iRtH]

You should write more clearly what you were trying to say. The gist of it is that they happen to buy in California at the bottom of a market cycle and rode the appreciation wave. The advice is decent but telling someone they had to be at the right place at the right time isn't that useful.

[@TheJoshheart90]

Is Bidens capital gains tax plan gonna affect the 1031 exchange???? Is it already in effect?

[@gridtac2911]

Don't worry, 10% goes to the "big guy" anyways...

[@jm7990]

Omg so many commercials now

[@cess308]

That sux, with as much as you paid for this level of content you’d think they’d be able to give it to you for less!

[@elunico13]

34:10 the market of Ogden

[@uscrene]

Gotta get that G Wagon money

[@NGAKO801]

🏠💵✊🏽👍🏽👏🏽👏🏽

[@jbrandonporter]

This was recorded last week. Ken's hand is still empty.

[@Be_Infinite_Services]

lifestyle creep i heard Brandon turner say that before on biggerpockets

[@gontayybago7850]

Yeah

[@GuillermoRobles]

YHWH happy Shabbat Elohim please make me a great real estate investor.

[@RobWilliams007]

I highly respect these people but why does everyone think cops don’t make a lot of money - cops and firefighters all live around me and they all make 6 figures - I guess it’s your definition of “not making a lot of money”. And they have pensions. I think that they should be highly paid - especially cops but just wondering.

[@adrielaraujo2604]

Same in my area they start off at $40 hr plus benefits

[@budala1969]

While this is certainly an inspiring story, I wonder how much of their success had to do with getting in at the bottom after the '08 crash, and then riding the greatest real estate bubble in history?

[@liamwright2573]

It’s a fascinating thought hw investors pull through this in the investments space When stocks n coin at a time Inflate and deflate without notice, lol for me I would have had a cardiac arrest longtim!!!😂

[@liamwright2573]

urgh 🥴 I see comment mention’s on hw people grab multi-figures monthly as income in invstmts even in this crazy market’s always winds me down to ask the question like “How”, becoos it all seem like the same story frm a book. Any real ideas on how to make substantial progress in earning? would be appreciated