Jason Hartman interviews Rich Dad Advisor Ken McElroy, who will be speaking at this year’s Meet the Masters of Income Property in La Jolla. 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.
They also discuss why the American idea of home ownership may be a massive myth, and two critical pieces to your investment success.
[4:44] The two common mistakes Ken sees in real estate investors
[6:47] Real estate is cyclical, so you can’t just buy all the time throughout your career
[9:09] Ken’s real estate business model
[10:48] Some tips on how to do property management right
[13:29] C class properties look good on paper, but in the long run, better quality properties bring better quality tenants
[20:16] It’s important to treat all your residents as your customers
[21:42] Is the idea of home ownership a myth?
[23:55] Population growth and migration are two things critical to investment success
[27:14] The state of the states