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McElroy Ken - The ABC's of real estate investing


Author : McElroy Ken
Title : The ABC's of real estate investing The secrets of finding hidden profits most investors miss
Year : 2004

Link download : McElroy_Ken_-_The_ABC_s_of_real_estate_investing.zip

Foreword. Learn from an expert. Go to any bookstore, and you will find there are many books written on the subject of investing in real estate. Ifyou are like me, you mayhave read several of them. While the books are written by people who claim to be financially successful, I notice that manyof them are not really real estate professionals. One famous real estate author made a lot of money selling his realestate investmentbooks,yet,in reality, he lostmost of hismoney in real estate. Today, he continues to earn a lot of money selling his booksand charging a lot ofmoneyfor his seminars. Anotherfamous author wasa garagemechanic onlya few years ago. He got into real estate afterbeingfiredfrom hisjob. Anotherbookiswrittenbyan exbanker who now sells his secrets on how to find foreclosure proper ties from banks. I recently ran into an ex-financial planner who stopped selling mutualfunds after the stock market crash and isnow holding seminars, teaching his investmentsecrets, and then getting his audience to invest in his high-pricedproperties. The Rich Dad Company asked Ken McElroy to write this book for five reasons: 1. Kenis a real estate professional. Right out of college, he be gan his career as a property manager. Today, Ken McElroy owns one of the largest property management companies in the southwestern United States. Ken is also a developer of multimillion-dollar commercial properties, the president of the Arizona Multihousing Association, and is active in lobby ing Congress for the real estate industry Due to his track record and reputation, investment bankers such as Lehman Brothers are often Ken'sfinancial partners in his projects. 2. Property management is one the most important aspects of real estate investing. Many people do not get into real estate investing—even though in my opinion it is the best invest ment class in the world—because they do not want to fix toi lets or deal with tenants. I do not blame them. Ken's insight into the managementside of real estate investing is priceless. 3. Propertymanagementis a long-termprocess. Findinga prop erty, financing a property, and selling a property are, in most cases, relatively short-term events. If you are a true investor, rather than a speculatorwho flips properties for profits, the management of property is an ongoing process. In other words, the core of real estate is a long-term process of prop erty management. 4. Propertymanagementis where most of the profits are made or lost. Manypeople lose money in real estate simplybecause they fail to manage their properties properly. If they cannot control the occupants, income, and expenses, the property soon goes downhill. The good news is that professional real estate investors love buying properties from investors who fail to manage their properties well. Why? Becauseyou can of ten buy the property at a good price and then, with good management skills, you can increase the cash flow as well as the value of the property. 5. KenMcElroy is a great teacher.KenMcElroy is not only a Rich Dad Advisor—for he does advise me on my property invest ments—we are also partners in several property invest ments. Most important to you, he is a great teacher who knows what he is talking about. Ken often accompanies me to speak to large groups, where he talks about how to man age property, how to analyze an investment, and how to tell whether or not the seller or broker is tellingyou the truth. If you ever have an opportunity to hear Ken speak about in vesting in real estate, take it. As I said, there are many books on real estate investing and many people claiming to be realestate experts. What makes this book dif ferent is, first, it is written from the most important aspect of real es tate investment, which is property management; and second, this book is written by a real expert. —Robert Kiyosaki. ...

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