$2 Billion Investor Reacts to Tik Tok “Gurus”
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- Опубликовано: 5 фев 2025
- Ken McElroy reacts to real estate TicTok. In this video, he critiques and challenges advice popular on social media platforms. Throughout the video, he covers various topics, from interest rates to the realities of real estate investments, highlighting how simplistic approaches can lead to misinformed decisions.
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#kenmcelroy #realestate #realestateinvesting #DaveRamsey #Treasuries #FreeMoney #InflationRate #AssetBubble #CheapMoney #InternetBusiness #RentalProperty #CashFlow #Depreciation #RealEstateInvesting #NegativeCashFlow #TaxBenefits #SavingsAccounts #GovernmentFunding #WallStreetFees #AirbnbStrategy #Subleasing #RealEstateWholesaling #MarginFlipping #InvestmentStrategy #FinancialGuru #FinancialAdvice #InvestmentPitfalls
![What NO ONE Tells You About Being a Landlord [From a Man with 10,000 Tenants]](http://i.ytimg.com/vi/h7RL0nMbnU8/mqdefault.jpg)
If you guys want to a see a true story of how I bailed out Bank of America on one of their properties
You can watch that video after, here:
ruclips.net/video/KNBtaYUP0bg/видео.htmlsi=_UtsLwE4q8C5rSoA
*FREE RENTALS*
(Love your channel, thank you for all you share. Hope you enjoy this and feel free to critique)
*I have been accepting ownership of houses with mortgages that are only 2-5 yrs old, 3-5% fixed rates, through the "Subject-To" process, into living trusts with my LLC as the Trustee so as not to trigger the "Due on sale" clause and allows me to deal directly with the lenders, insurance, taxing entities, etc. All previous owners are abandoning these new properties because they are in pre-foreclosure.*
*Now, I get all required investment capital without using credit. Here's how.*
*I have multiple families lined up that are cash rich but credit poor and are eager to own a home of their home. After passing a credit and criminal check and submit their request form (details of the home they wish to buy) they deposit an "Option fee" into escrow pending us finding a property match, to which all families are invited to a one day open house. Guess where I'm getting the houses?*
*The Option fee is always significantly more than the expenses of catching up the mortgage from foreclosure threat, touching up the property, providing the previous owner with some walking more, closing costs, etc. The family rents the house for more than the monthly mortgage and is allowed 2 years to buy the house by getting their own mortgage. After which if they still canNot buy the house they may remain as tenants until they can. Meanwhile I make the monthly spread.*
*In the end, the original owner avoids getting dragged out by the hair by local law enforcement, they enjoy the dignity of leaving on their own terms, avoid foreclosure on their credit record and get a lump sum of cash to help them start over fresh somewhere else. Their mortgage remains in their name and they get credit for the payments we make on their behalf. While the new family get to move into the home they desire immediately and to lock in a sales price and have the chance to fix their credit and buy a home of their own. Obviously rent and the sales price can go up after the 2 year option period.*
*Because these mortgages aren't very old the properties tend to be in better condition so little or no repairs are needed, the original owner is less attached emotionally to the property, and the interest rates are low. Because there is hardly ever any equity, I do not make much on the back end when the tenant buys the house. But I have had tenants finally buy the house after 4 years, 7 years and some times they just moved away. But most just remain tenants.*
*There is much much more detail, some proprietary stuff of the most valuable parts. I've been saving people for foreclosures and providing housing for more than 14 years here in Texas.*
*Liberty = Peace & I pray you & your loved ones always enjoy both!*
At 2:22 you say you don't know why anyone would do that so let me explain. While it is probably not the best sense or use of money, some people simply don't want to borrow period. It is essentially throwing money away, but you are also not on the hook for anything which is a great way to live your life. Assuming, you have the ability and resources to do that. Now I agree he should take the money and do that, but lets assume, a new plandemic hits and he's on the hook for 1 billion that he cant get out for a year, maybe he ends up losing ALOT more than 55 million... think about it.
The rest of the video was great, smart dude.
*FREE RENTALS*
*I have been accepting ownership of houses with mortgages that are only 2-5 yrs old, 3-5% fixed rates, through the "Subject-To" process, into living trusts with my LLC as the Trustee so as not to trigger the "Due on sale" clause and allows me to deal directly with the lenders, insurance, taxing entities, etc. All these previous owners want to abandon these new properties because they are in pre-foreclosure. But rather than discard it, I help them spare their estate.*
*Now, I get all required investment capital without using credit. Here's how.*
*I have multiple families lined up that are cash rich but credit poor and are eager to own a home of their home. After passing a credit and criminal check and submit their request form (details of the home they wish to buy) they deposit an "Option fee" into escrow pending us finding a property match, to which all families are invited to a one day open house. Guess where I'm getting the houses?*
*The Option fee is always significantly more than the expenses of catching up the mortgage from foreclosure threat, touching up the property, providing the previous owner with some walking more, closing costs, etc. The family rents the house for more than the monthly mortgage and is allowed 2 years to buy the house by getting their own mortgage. After which if they still canNot buy the house they may remain as tenants until they can. Meanwhile I make the monthly spread.*
*In the end, the original owner avoids getting dragged out by the hair by local law enforcement, they enjoy the dignity of leaving on their own terms, avoid foreclosure on their credit record and get a lump sum of cash to help them start over fresh somewhere else. While the new family get to move into the home they desire immediately and to lock in a sales price and have the chance to fix their credit and buy a home of their own. Obviously rent and the sales price can go up after the 2 year option period.*
*Because these mortgages aren't very old the properties tend to be in better condition so little or no repairs are needed, the original owner is less attached emotionally to the property, and the interest rates are low. Because there is hardly ever any equity, I do not make much on the back end when the tenant buys the house. But I have had tenants finally buy the house after 4 years, 7 years and some times they just moved away. But most just remain tenants.*
*There is much much more detail, some proprietary stuff of the most valuable parts. I've been saving people for foreclosures and providing housing for more than 14 years here in Texas.*
*Liberty = Peace & I pray you & your loved ones always enjoy both!*
You got a new sub! Nice...
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighbourhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighbourhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
indeed the mkt & economy has gone berserk, price of great assets like real estate, dividend paying stocks, or gold never comes down easily, in my humble opinion, buy what you can afford today, and working with a financial advisor certainly helps
Could you possibly recommend a CFA you've consulted with?
“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
DIANA CASTEEL LYNCH is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing
I love when people call out these terrible “influencers”
Great coverage!!!!!!
Exactly!
Yup we have 2 airbnbs and they barley make as much as a regular rent and require more management and work. It all depends which area you're in.
ACCEPT HE WAS DEAD WRONG ABOUT DAVE RAMSEY !!!! LOL !!!!!
@@dropoutandretireearly1781What was he wrong about? In this video, Ken was right. Dave Ramsey is the poor people's champion. His financial theories keep people in the lower and middle class. The first clip of him saying he wouldn't borrow one billion dollars at 0% interest to cash flow is just stupid. He is an extremely close-minded guru.
Ken, this is gold. My wife and I have been investors for 20+ years, and we have been laughing at these online clowns for years. Thanks for calling them out.
It is bad video to include Ackman and Ramsey. Nothing wrong with what they stated he may disagree but in reality it is hard bad advice.
@@Art-is-crafthe has helped far more people than any of these so-called gurus. You're clueless.
@@byronrogers4489
Ackman is not a guru he is an active hedge fund manager and a major owner of an investment company. Ramsey is also an investor with a major mixed portfolio that decided to start teaching people how to manage their finances with his main approach not to get into high level debt and work had. Ramsey is a pastor and is religious. You may not like both of them but that does not make them “Gurus”.
@@byronrogers4489
Ramsey has taught millions of every day Americans to clear their unsecured debt and to start simple saving investment. What has the publisher of this video achieved.
@@pvaz
You think Ramsey is not good because he tells people not to borrow to invest.
I am 72. When I was a home builder, mortgage rates were 18%. It really sucked. EVERYTHING was negative cash flow. I had to sell everything, one house at a time. My rich uncle built in the 1950's when everything cash flowed and banks automatically gave mortgages with no qualifying. Rich Uncle had 100 units and sold the mall in 1970, right before inflation. Wiped out in a bad divorce. Did it all over again in 1980's in Florida. I inherited one house when he died. That was good for me. Protect yourself. Thanks Ken.
Thanks for sharing. Stories like this are valuable to young and/or new investors.
Real driver of American entrepreneurship: bad divorces
wow divorces where bad back then too.
Dave Ramsey was talking about how new investors think tenants ALWAYS pay your mortgage for you. (Not considering repairs, vacancies etc). It was an argument against being leveraged.
Indeed, this guy got it wrong...
@@phantomfpss
He also includes Ackman who was talking about a sovereign wealth fund. Very strange video.
I was just about to comment this, I’m not sure he understood what Dave was talking about with the renter always making the payment on time. Life happens is kinda what he meant, plan for the worst and hope for the best.
Dave's example and complaint is kind of weak and ignores some easy facts... Most people with multiple properties are able to cover rent for a few months in the event of vacancy or non-payment - or, at least THAT should be the advice: Be able to cover the mortgage in the event of an issue woth cash flow.
Not bitching about the cost of being a landlord. If being a landlord was a bad industry, NO ONE WOULD DO IT.
If you buy good properties in good areas and rent to good tenants, you'll have very rare dips in cash flow. Just be able to cover the dips.
@@thomasc1753 Ramsey owns more properties than most here will ever dream of. He just has a low risk, anti-leverage viewpoint. I’ve watched people use leverage with success. And I’ve watched people go broke. My point was he’s not “anti-rental”… he’s anti high leverage. Agree or disagree, fine. But that’s his stance.
Young and never experienced a downturn.
Dave Ramsey is as old as dirt
The crash is where you get rich
@@davidsmindthat had rich parents that owned a real estate company.
@@davidsmind. He thinks his daughter is going to take his place. Nope.👎🏼
@davidsmind Yet he's just as out of touch with reality 😂
No “positive” cash flow; always walk away. Some of my best investments are the ones from which I’ve walked away.
No deal is better than bad deal ❤
No cashflow just means youre investing for appreciation. Basically all of California coastal real eatate did not cashflow and yet people have made a lot of money over the years.
And yes, rents on average goes up. It's a different style of investing.
I don't know why people still call real estate investments. After 08, it should be clear that it's speculative at best.
@@gamesguyi bet that is not true in Detroit.
@@embatbr Depends on when you bought.
Oh man, I love Ken McElroy for the regular great everyday content. But for destroying social media hype? Super fan status achieved.
For sure! Follow him blindly to get behind his positivity and warmth he is bringing to the world!
Besides his relationship with the “My Rich Uncle Guy”, Mr. McElroy consistently provides sound and practical advice and sage guidance.
Umm who’s that ?
Are you talking about Robert Kyosaki?
Overall very knowledgable video. The Dave rant at 10:15 was however taken out of context, I actually saw that video and right after the clip here cuts out he goes on to saying it's because often you can't 100% reliably count on your renters to pay rent because situations come up, sometimes your tenants file bankruptcy and become uncollectible. Sometimes they break leases early and you end up with multiple months vacancy. I've had both happen.
Look at the thumbnail. Ken decided to promote the video off Ramsey's back, making it look like he said "It's f*cking simple" (something Dave would never say), and then in the second clip just totally strawmanned Dave.
Well, to be honest, Dave got rich - really rich - via a show.
@@STELLASCUTENESS or he got rich providing value to a lot of people through an educational brand him and his wife created over 30 years. And some real estate ;)
@@stefanbstreet8634 Was that before or after his bankruptcy due to being overleveraged in his investments?
This one of the sharpest and insightful videos Ken has put on in a while. I also like that they are shorter and more to the point. Good stuff
This is very helpful Ken to so many people. Please make more of these videos so people don’t get scammed. I’ve been in real estate for over 25 years and seen just about every Scam there is out there and it’s really hard to convince people. Something is not a scam with some of these charlatans.
Ken, you should continue with a series like this. It’s helpful seeing a real pro show how these scammers (or those who think they know) mislead the uninitiated. Once a week will be perfect!
i"ll second that!
For sure! Everyone younger than 60 years old is dumb, only old school works. New technology and new strategies should be avoided at all costs!
How is Ramsey and Ackman not real pro. They may even be more successful than the guy in this video.
@@Art-is-craftthey are coaches.
All these people are basically saying “real estate always goes up”…literally the mindset that caused 2008
That mindset had zero effect on the 2008 crisis dude. 2008 happened because of shitty lending standards, unethical people, and consumers who didn’t quite understand the fine print of their loans.
1:45 It's because he's built his entire empire on telling people to not borrow money, which would make him a HUGE hypocrite if he had said yes. In addition, he's built everything he has thus far without debt and he doesn't necessarily want to make more money if it means destroying his brand and going against his core values in the process, he has enough money as it is, he doesn't need more anyway, especially at the cost of destroying his brand, being a hypocrite, and betraying his core values. That's a good enough reason in my book.
It’s easy to turn down a ludicrous hypothetical like $1B at 0% too. It costs nothing and reinforces his whole schtick.
I love the videos that tell you how easy it is to get rich then tell you to go to their "free" seminar. Those seminars are how THEY'RE getting rich.
Bingo
This video started off awesome, I love Ken destroying these gurus right off the bat. It made me laugh out loud. Thanks Ken
Me too! Thanks Ken!
Ramseys brand is “no debt”. If he borrowed money he would lose his audience which generates more than $50M per year.
And generally, it goes against his principles. I respect that.
Ramsey had businesses destroyed by debt hence why he warns people on the same pathway.
@@Dynasty725still very dumb
Yeah, Dave knows it's an amazing deal. He just can't say he'd take it. That's all. Respectable to stick with principles over raw money gains. Realistically that scenario would never happen anyways. No reason to lose your audience over some hypothetical fantasy land scenario.
No, Dave is living by his word. Wanna know why our politicians sell out citizens? No principles. An honorable man live by principles not money.
Ken, excellent information as always 🙏🏽
I’m 63 years old, and was raised hearing all the time “never borrow anything” it really stopped me from growing my economy faster, bigger, and healthier, I’m learning to participate in debt, however is really hard to re-learn everything. Please be careful what you put in your kids mind, it will become their lifestyle. No remorse though, just keep going.
Legendary video Ken! please do more like this. I like how you actually take time to respond thoroughly rather than say 5 words and move on like many other creators who do reactions like this.
Yes, he used a ton of words to call people names and demean them. I love 100 negative words instead of 5. Agreed!
I am in for this trend of actual investors roasting youtube finance gurus lmfao
Challenge accepted 😎
I am glad you are doing this Ken....finally someone started pointing out these idiots....
I've listened to Dave Ramsey for years, and that "renters are never going to pay the payments for you" quote was taken completely out of context. He is NOT saying that renters don't produce cash flow. He's saying if you go heavily into debt to buy real estate, you are at risk of either not getting enough occupancy to make the payments on that debt, or the renters might not make their payments. He's right about that. He's just saying don't get overleveraged to where you depend on perfect circumstances to not be financially ruined, because perfect circumstances never exist. His no-debt method may be onerous and draconian, but it has the lowest risk of any business model.
Of course tenants don’t always pay rent. That is why smart investors always maintain reserves. As a commercial real estate broker- investor, i have experienced success by learning from my clients early in my career. The ones who couldn’t make it as a real estate investor are the ones who spent all the cash flow and never allowed for a vacancy factor. Always keep reserves for deferred maintenance and vacancies and you will be successful over the long term. I have never lost one penny by investing in real estate by using this basic principle.
Also, Ramseys advice for no debt makes sense for consumers, but not real estate investors . Buying real estate with leverage is how most wealthy investors have built their portfolios. Plus, the cash return is almost always higher with leverage. I am buying a warehouse with cash that will give me a 10% return. After I close I will finance it and take out $200,000 to purchase another property. The return will then go to 32% based on the $200,000 investment left in the property. That is how you build wealth. It is a multi tenant property, so I will always have cash flow to cover payment.
So glad to hear what I have been thinking for so long. Finally found someone worth listening to. I hear logic and common sense.
Much needed video. Thanks Ken! More of this style video would be great! As usual, keep up the good work.
Every one is under 30y old.
Never experienced a crash 💥 before!
Not true. I was 22 when I bought my first junior mining stocks (sunk tens of thousands into them) while the market was nuclear hot in 2020 when covid hit. Literally 6 months later the market sold off hard and I've been sitting on dead money and absolutely terrible market sentiment ever since. Despite gold being at all time Highs since March... I know very much what a market down turn feels like and it don't feel too good.
@@paulm2041 The market sold off in Novemeber 21 and into 2022, not 6 months after COVID hit.
Covid: am I a joke to you?
Bro, 2008 was 16 years ago
Kens' the OG.. these gurus can pound sand!
Yea! Go Ken! Get these newbies in there place and off your lawn!
Ackman and Ramsey are worth billions how can you say go pound sand?
I LOVE IT !!!! YES CALL HIM AN IDIOT !!!!! He's always spewing his silliness !!!!! LOL !!!!!
Dave Ramsay has to say no due to his brand. Of course he’d take the money.
Half of these gurus were in grade school during the GFC. All these youngsters are basing their entire Financial worldview based on an anomaly in history. The 60-year average mortgage rate is 7.7%, yet they think 3% is normal. Even worse, they're assuming a return to that rate. It's unlikely that we will ever see 3% rates again in this country
I feel like we should see the Boris or Bullwinkle guy interrupt😆
“The Adventures of Rocky & Bullwinkle and friends”🐿️👊
Love these kind of videos do more like this. Thank you.
I have learned that anytime I see someone on youtube wearing a backwards baseball hat, something dumb is about to come out of their mouth. They're all copying each other and not even realizing they're becoming part of a stereotype.
Even when they wear a ball cap with the bill forward and are indoors something dumb is about to be heard.
And the sunglasses....that hat is no longer doing it's job. Just pick one!
The take on the baby bond was bad. There’s no point in history where investing in a broad market fund would not have beat inflation over the course of 65 years. And there’s no reason to say the fund couldn’t have low management fees like VOO.
Yeah, so where's the money coming from? The government? How are they going to fund that when they're already in $33T of debt and climbing😂 print the money? Sure, then prepare for higher inflation! It's nonsensical.
Dave Ramsey's advice is generally really sound and logical for people who have serious spending problems and behavioral risks, but for people who have actual financial sense and understanding, it can often be extremely counterproductive, like with the example of refusing ALL debt, regardless of how it could actually leverage your overall wealth in the right situation. He sort of provides the "training wheels" to financial freedom, but once you're ready to actually go somewhere financially, it's actually more of a hindrance than a help. I consider him more a financial "therapist" than a wealth advisor, but unfortunately people are obsessed with simple solutions to complex problems, and often suffer for it.
Lol financial therapist🎯
I believe some of Dave Ramsey’s issues with not getting a loan is not wanting to play the banking system. It’s a moral issue
Ramsey's brand is "debt is slavery". It's how he makes money- by selling that talking point (and to be fair, most of his audience probably does need to avoid debt like the plague). So, when faced with a preposterous scenario ($1 Trillion at no interest) he knows he has nothing to gain by muddying his message to his followers- just say no to debt is the only message he will ever give.
Agree Dave was saying no to a wild hypothetical and avoiding diluting his message. In reality, Dave would take that deal every day.
It's time for "the Tide to go out" before things get any stupider.
Yes yes yes! Anyone who is NOT Ken should not even be allowed to post content or even invest in real estate.
Your words carry iron in them ! Solid and true. Too many BS fools on the web who now a days drive others to lose their hard earned money.
3:57 totally wrong. He said an index fund. The index fund could be government run. If treasuries were worth anything then the funds could go into that. As for the inflation argument yes it would cause inflation.
Love it! Right on the money. It’s time the experts challenge the gurus. RUclipsrs are like assets… they need a balance of proof of work and proof of stake. TIL tok and RUclips produces many information providers “content creator” like price discovery, we didn’t decide who is valuable because we are force fed many gurus by the ai 😢
Yes, the best advice is to follow the experienced guys who have done it before and have been around through the hard times. Thank you.
Yes, until you have lived through a crash that will never happen again, you dont know anything about life or real estate, Thanks Ken for holding these young kids accountable and showing the world they dont know anything!
Ouch. Having Ken call you a an idiot must hurt. Course I took his class. I bought his books. I implemented his plan. And I retired early to go farming. Mr McElroy. Many many thanks to the whole Rich Dad team. You were by far a very important part of that team. Thank you. Thank you thank you. You da man! I always hold out for 20% cash on cash return. Doesn’t always work out the first year. Sometimes it’s 15. Boohoo. Either way I want my down payment back in five years if I don’t pull equity out.
Yes! I bought all Kenny, Robert, Kim, Tom and Garret’s books. And the Cash Flow game. I have been watching them for a couple years now. I can’t wait to buy my first rental property. Thanks, for all the free education ❤
If you think a property is worth 10 mil and the seller is selling it for 9 mil, that seller knows something you don't know. You're about to become a bag holder
Ramsey said no because "No debt" is his model. He's not going to go back on it and undermine his whole business for some meaningless hypothetical.
That's how people can really become millionaires instead of literally bet with other people's money with huge interest and can ruin your life .
No debt IS THE BEST
He answered the hypothetical so...
@@ElliottPianono debt is not the best as this example clearly illustrates. Dave Ramsey has a no debt model because he went into bankruptcy and lost everything because he missed managed his debt. It’s his personal choice because he had an addiction not because it’s the smartest thing to do.
10:16 Dude, are you even trying to understand what he's saying here? He's saying to not go into debt to buy rental properties where you're relying on the tenants to pay rent so that you can make the payments on the property, cos then YOU get foreclosed on if THEY don't pay, and tenants not paying rent is a thing in case you haven't noticed, so he's warning people to make sure that THEY don't get screwed if the tenant doesn't pay and to make sure you can make the payment yourself if the tenant doesn't pay so that you don't lose the property. This is the first video of yours that I've watched so I'm assuming you're not operating in bad faith but you WILDLY misunderstood Dave on this one.
I love it when someone plays a short clip of Dave and cuts it off right before dave gives his reasoning. Makes this guys point look good 😂😂
Great video, thumbs up for sure! Wish you did more videos like this. You know who does videos like this but he does a lot of yelling! ha ha Both are great to watch.
Kiyosaki would refer to those Tik Tok gurus as a “stupid brother-in-law”. 😊
Kiyosaki is super in touch with how to create financial success in the current world. He is a super positive and happy guy to follow for sure!
Kiyosaki is also another liar. He keeps saying our stock market is going down and we’re losing everything 5 years later we’re waiting says he man who wants to sell another multi book
Kiyosaki is literally the same kind of salesmen. He used to host seminars.
Kiyosaki is worse than a lot of these people😂
Kiyosaki is their mentor.
Love to listen to somebody that knows their stuff talk. Congrats Ken.
I love it when you make these videos! Thanks Ken,, very entertaining
I LOVE the fact that you call out Bill... I could tell right away that he wants to manage money... it has nothing to do with helping out the young
Reminds me of that old Steve Martin bit. How do you make a million dollars and not pay taxes. First, get a million dollars and when the IRS asks for the taxes just tell them you forgot.
Hey Ken! My name Sam Primm, and I am the first guy in the video. You called me and "idiot", which to be honest, I can be sometimes! I would love the opportunity to be on your show to give some context to the video your team cut up for you to respond to. There was a lot of important things you left out. I have been able to go from the lower-middle class to owning almost $50 million worth of real estate and have done over 1,000 deals in the last 9 years...
👀
@@REIguy I have 3 million followers on social media and I use that platform to encourage and lift people up. if you are willing to take me up on my offer to be on your show. I would love a mature conversation and think that both our audiences could really benefit from it . I wish you and your family the best of luck in your current and future businesses
We'll check out your channel and see what you're all about. What episode did they take that clip from?
Ken knows his stuff!
Yeap. And he is the only one who knows about real estate. All others shouldn't even post!
Pretty sure the Dave Ramsey quote was from 10 years ago when rates were near zero. Plus Dave is all about reducing debt which in my opinion is required to demonstrate you have have discipline. If you are disciplined and educated then you can begin more complex real estate investing using financing. I love Ken’s stuff and the non-nonsense approach.
The quote was chopped in half . He was talking about renters not always paying , not always having a tenant and not always having cashflow to service debt.
Man we need more of these!!!!!!!!!🔥
There are plenty of people like that. Any forum 😂. They always think everything they invest in is going to the moon.
Dave Ramsey just said not to leverage the property. I own two houses with no leverage and the rental is about to be sold because renters are unreliable in this economy. I’m not mad at them because the job markets are horrible in the oil & gas world. I’m just going to write the back rent off as a gift and keep the deposit when they leave in 2 months.
Ken, I like your style. No hype no bullshit.
Thank you! I don't listen to anyone that didn't have real estate in 2008.
We bet on equity, we thought we were so smart and then 2008 came and we lost all that property, our personal home and everything else! Learned the hard way!
The people who didn't have real estate in 2008 are the only ones you should listen to, because they were smart enough to avoid the crash.
Ken McElroy For the Win! 🙌🏼 I always heard your podcast, but never seen you in person! Thanks for calling out Dave Ramsey about that ridiculous comment about not taking the free money! Lol
I built a healthy net worth and NEVER used a financial manager. An index fund, typically S&P 500, doesn't require any stock analyzing, let alone using a financial manager. Save your money folks. Don't use a financial manager.
@10:16
I dont get it pleae somebody explain it to me
Love this! Ken is so genuine 😊
I agree Ken. I've something to add. As always it's local market specific. Here in San Diego payments to rent are too far below payments to buy to find stuff that cash flows. So you get people pitching the idea of buying anyways to move properties. Based on the hype that interest rates will soon go down which will lower payments and there will be a massive wave of buyers to push values up.
Commenting to boost this video in the algorithm cuz more people need to see videos like this and stop listening to these influencers
Not big on advice from any social media source , but do like that Ken is picking apart these earnest but quick to speak/slow to listen young tik tok experts. Riding my bike as a grade school/teen/ and adult through Valley neighborhoods in a couple different decades was the best thing to teach me boom and bust in AZ. I have seen the same house near camelback mtn; occupied, lost by owners, empty and ransacked, then occupied again, then sold high...over the course of a couple decades. It's all work no matter how you slice it, rentals, sales, leases, etc.....and there are cycles, although this latest one has me perplexed.
10:16 correction, what Dave is arguing about is someone who takes out a mortgage without the funds to maintain the property or be able to pay it if there are no renters.
Been watching the first "guru" for a year plus now and he seems to be doing just fine and acquiring more and more. I love video where "rich" people video themselves Telling poor people how other rich people are wrong!
Great content. You should do more of these.
This video is great. I've been thinking the same things. They always tell you how great they are at investing, and then sell a seminar or subscription.
One of your best vids yet 😂😂😂
I think you can use depreciation if you're the owner/manager and you have w2 income OR you have some passive income coming from somewhere else. Which is fine, but it doesn't scale very far.
Really good video. I appreciate you sharing your real world knowledge on these influencers. You seem like a straight shooter and that is really rare these days.
Those guys called ‘Gurus” are just marketers that wants people to follow on social media thats all.
For sure. Ken is just posting out of the kindness of his warm heart. He does not post for you to follow him on social media. He just wants to help. He wouldn't even care if everyone unfollowed him, he just wants to help....
Thank you, Ken. So refreshing . Can't believe there are so many idiots around us!!!
If one wants to be stupid, he better be strong...
If these gurus who have less money than this billionaire aren't helping us, why should we trust this billionaire? 😂😂
Nothing like telling the truth!!! Nice to hear the truth!!
Great video ... for the beginners.... sheeple are lost on real estate
Very good contents, your comments on other ideas are very helpful, thanks 🎉
One thing that's common with these influencers is that they are some fast talkers 😂
Very good video, had so much fun watching it! :)
Excellent content. Thank you.
what is your thought on tax deed properties as rentals. im looking to get started in real estate this way.
Thank you for doing this vid, there is soooo much trash advice on tik Tok.
Love this level headed opinion on investing
Social
Media is inundated with twenty something grifters selling snake oil. Ken your the man! I love your opening critique “these guys are idiots!” Lol
My mind whenever i hear "Correct Mindset": MLM, Pyramid Scheme, Get rich Quick Scheme, SCAM lol
You’re sporting fancy jacket, Mr. Ken…What Style Hat, sir?🎩
This is the best video on the internet pulling the vail back! Love it
😂😂😂😂😂😂😂😂😂
Great video. Amazes me that people listen to some of these novices or so-called RE experts. Your channel is the real deal. Your books 📚 for sale as well as this channel are full of information about RE.
It’s similar to fitness. People don’t listen to the things that actually work but they’ll go out of their way to hear something that doesn’t work and pay money 💰 for it.
It’s as if people want instant gratification and when they fail they blame everyone but themselves.
Further evidence that Ken is a seasoned pro and should be trusted over these opportunistic pretenders.
Thank you for calling out Bill Ackman! That’s the exact thought I had when I watched that clip and I’m glad I’m not the only one who thought that.
Someone who wears sunglasses indoors for an interview tells you everything you need to know about them without them even saying one word.
Exactly. Dude must not know anything about wealth or real estate because he is wearing something on his face.
Glad you set the record straight Ken!
Thanks for the honesty.
Keep doing these videos Ken
Sure like your honesty!
7:00 i mean it is possible, but there are tons of factors, just like in any real estate deal. Gotta be in a location where people actually rent airbnb's like a vacation hotspot. Also gotta look into the location's laws & taxes regarding STR, those can really fudge up the numbers.