Ken McElroy has been in the real estate investing game for decades, starting as a property manager in college, becoming a landlord with a sizable portfolio, then meeting Robert Kiyosaki and working on books, education, and systems with some of the biggest names in real estate. Ken has been through multiple market cycles, dozens of policy changes from the government, and made lots of money on many different types of deals. He has a unique experience that gives him a leg up on much of the new competition.

You’ll hear Ken’s thoughts on the “affordability crisis” we may be facing in the coming years, how short-term rentals are changing the landscape of month-to-month rentals, and how an inexperienced investor can get started with “good debt”. Make no mistake, the lessons Ken talks through in this episode took decades to learn, but you can get them all in just over an hour!

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Episode 493

Show notes at: https://www.biggerpockets.com/show493

0:00 Intro
3:16 Quick Tip
6:30 A 25-Year Real Estate Veteran
10:50 Where's the Housing Market Headed?
17:05 Should You Wait to Buy?
23:21 The Future of Short-Term Rentals
28:43 Will the Cost of Construction Stay High?
31:38 Long-Lasting Fundamentals of Real Estate
39:26 The Power of "Good Debt"
42:31 Working WITH The System, Not Against It
49:33 Costs (and Rents) Keep on Climbing
56:11 No Money? No Problem
1:01:15 Famous Four