52: Buying Apartment Complexes, Raising Millions, and Building a Profitable Business with Ken McElroy

On today’s episode of the BiggerPockets Podcast, we talk with one of the most influential voices in the real estate investing world today – Ken McElroy. Ken, the author of The ABC’s of Real Estate Investing and several other influential books, shares his story of getting started with nothing and building up a real estate investment company with thousands of units and hundreds of employees. Ken has a lot of great advice and knowledge for people at all stages of their investing careers, and shares it in a fun, entertaining manner. On today’s show we’re going to talk a lot about getting started, raising capital, and investing in large apartment complexes for big wins. Don’t miss a second of this exciting show! Read the transcript for episode 52 with Ken McElroy here. In This Show, We Cover:Getting started with no money – through property managementWhy should someone invest in multifamily properties?Using other people’s money to invest in real estateInvesting at a distance vs. investing locallyDetermining the best locations and markets to invest in real estateCash flow vs. appreciation: which is best?Ken’s newest $9 million dollar project Why Ken loves bad landlordsHow to find amazing apartment complex dealsRaising millions of dollars in 20 minutesHow to find a great property manager?Should someone start with Apartment Complex Investing?The worst mistake you can make as a real estate investingLinks from the ShowWhat is a Cap Rate? (Capitalization Rate) (article about Cap Rates)BiggerPockets Presents: The 21 Best Real Estate Books EverBooks Mentioned in the ShowThe Art of the Deal by Donald TrumpThe Best Real Estate Advice I Ever Received by Donald TrumpTurning Pro by Steven PressfieldTribal Leadership: Leveraging Natural Groups to Build a Thriving Organization by Dave LoganThe Crash Course: The Unsustainable Future Of Our Economy, Energy, And Environment by Chris MartensonThe ABC’s of Real Estate Investing by Ken McElroyThe Advanced Guide to Real Estate Investing by Ken McElroyTweetable TopicsThe faster you fail, the smarter you get. (Tweet This!)“You don’t need to be an expert at everything.”(Tweet This!)There’s a lot more money out there than deals. (Tweet This!)The best deals are generated from face to face relationships. (Tweet This!)The entire goal of my company is to replace myself. (Tweet This!)Connect with KenKen’s Website: KenMcElroy.comKen’s BiggerPockets Profile