How Real Estate Experts Manage Their Portfolio During Recessions

Рет қаралды 42,757

18 күн бұрын

Sign-up for Limitless Tickets: limitlessexpo.com
Ken and Danille McElroy discuss strategies for landlords to manage rental properties effectively during an economic downturn. Learn how to maintain stable cash flow, build strong tenant relationships, and make informed decisions to weather the challenges of a recession.
You can listen to an audio replay of this live stream on Ken and Danille's podcast! Follow your favorite platform with the links below!
Apple Podcasts: apple.co/3jDqftx
Spotify: spoti.fi/31GUDwW
Check out the Limitless conference and sign up: limitlessexpo.com Use KEN10 to get 10% off your registration.
Follow Ken on social media at: x.com/kenmcelroy
• • •
Be sure to click the bell to be notified when the next informational video is posted!
Visit Ken's Bookstore: kenmcelroy.com/books/
•
ABOUT KEN:
Ken is the author of the bestselling books The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABCs of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: mccompanies.com/
•
DISCLAIMERS: Any information or advice available on this channel is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this channel. Consult a financial advisor or other wealth management professional before you make investments of any kind.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.’
Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel.
Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites.
All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate. Comments that are off-topic, offensive, or promotional will not be posted. The comments/posts are from members of the public and do not necessarily reflect the views of Ken McElroy and his affiliates.
2024 KenMcElroy.com, LLC. All Rights Reserved.
#KenMcElroy #realestate #investing #realestateinvesting #newrules #propertyexpenses #rentalmarket #insurancecosts #propertytax #HOAfees #maintenancecosts #adjustablerateloans #mortgagepayments #homeimprovements #StableCashFlow #TenantRelationships #LandlordStrategies #EconomicDownturn #RentalProperties #RentersMarket #TurnoverCosts #MarketTrends #LeaseManagement #RealEstateInvestment #PropertyManagement #RecessionPlanning #RealEstateTips #LandlordAdvice #TenantRetention #FinancialResilience #InvestSmart

Пікірлер: 115

@fromthebirchwood 15 күн бұрын

Recession comes with expansion if you are well prepared and equipped. I've seen folks on verified posts that turned millionaires amid economic downtrend, and even pull it off easily in a favorable economy, it all boils down to proper asset allocation.

@MAnderson5 15 күн бұрын

yes there are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist

@Charlesman_T 15 күн бұрын

A lot of folks downplay expertise assistance until being burnt by their own emotions, no offense. I remember 4 years ago, amid covid-outbreak, I needed a good boost to help stay afloat, hence researched for licensed advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m notwithstanding inflation.

@LupeBaptista 15 күн бұрын

@@Charlesman_T I've worked in real estate for 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. would you mind if I vet the professional guiding you please?

@Charlesman_T 15 күн бұрын

Personally, I delegate my excesses to someone of great expertise ''Karen Lynne Chess'' preferably you can look her up on the web, her qualifications speak for itself.

@okaydamian 15 күн бұрын

glad to have stumbled upon this, curiously copied and pasted Karen Lynne Chess on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal

@LoukasMikros 6 күн бұрын

i purchased my first duplex last year. living in one unit and renting the other. my tenants lease was up 1 month ago and 2 months prior I did exactly what you guys said. I had had a conversation with them and I also looked into the market. My fear was losing them as tenants because first off they pay on time and they were very low maintenance for the first year. The market was calling for around 1200 and units in that area we’re renting for 1100 for the exact bedrooms. They were paying 850 since the previous seller had them paying that. instead of losing them and raising their rent to even $1000 I only raised it to 925 and they were genuinely happy and they stayed. I had no tone over. Got a small increase in rent and have happy tenants that don’t have to leave. The only thing I have to do is fix a couple of screens on the windows, but I’m so happy that I did what was right from the beginning and came across this video.depending on the market in the next year when they leases up, I’ll see what happens then but until now I know I did the right thing. It’s a win-win for the both of us.

@kevinmorris4517 17 күн бұрын

Sold my last Phoenix property earlier this year; looks like the timing was good! Held rentals through 2007-2008 and did not want to do that again.

@TheeMrGum 16 күн бұрын

Hello Ken and Danille, I believe that the smaller number of properties you have, the more rigid you will be, because when you have 2 or 3 houses, if one of the tenants starts having payments issues, then your alarm starts ringing because the income goes dramatically down. (and if you are still paying the house to the bank, even worse) While when you have 15 or 20 houses/apartments, then you can absorb easily the possibility of a compromise with the tenant, allowing him to pay later etc.

@timl2665 17 күн бұрын

I moved the most times in my life between 2008-2014. It was always because I was deal-shopping for a better single-family home in a better area for my young family. We were always great tenants and took care of the house like our own, but not once did a landlord ever keep rent the same or lower rents. They would always raise rents despite the housing collapse and, then we'd move. I'd end up with a lower or same rent, but a much better home in a much better area.

@KaayJaay 16 күн бұрын

If the tenant is good, don’t raise the rent

@timl2665 16 күн бұрын

@@KaayJaay If tenant is good and rental rates are collapsing around you, lower the rent.

@KaayJaay 16 күн бұрын

@@timl2665 preach

@jonathanthink5830 17 күн бұрын

You have 4000 apartment units and your son is renting??? You are one tough dad ....... :-)

@jameswalker366 16 күн бұрын

Principled

@carbanshapitts7801 15 күн бұрын

That’s a good dad!!!

@carossetti 15 күн бұрын

I see some of that in the States…. The son should just work for his father, and build on top of the level of success.

@anthonytoersh3401 16 күн бұрын

Communication is the key. Great info and balance of empathy,yet straight business!

@Grow.YT.Views.522 16 күн бұрын

I stumbled upon your channel, and it's a game-changer. Subscribed and looking forward to more!

@ronie6773 16 күн бұрын

Loved your video about real estate cycles. You are a true billionaire, you thing big, remind me of the book how successful ppl think

@Tommywonders 17 күн бұрын

Thanks for the content y’all are awesome as always

@deannahouston8801 17 күн бұрын

Tenants should be respected too. If you are good to your tenants, they may refer quality tenants to you!

@NoQuarter01 17 күн бұрын

GOOD tenants should be respected. I agree.

@thomasfreeman4578 17 күн бұрын

@@deannahouston8801 if you make a good place to live and make it affordable to good people,the return is great,,,,but the general landlord is not worried about your living conditions,or energy cost.male it good for them,they will make it good for you

@KaayJaay 16 күн бұрын

@@NoQuarter01preach

@ArcConAK 10 күн бұрын

That’s funny you say that cause I rented a 2 br apt for 5 years for 1k a month and never was late on a payment and I never got my rent raised. Mean while the other tenants in my building were missing payments and some were up to $1200 and $1300 a month getting raised after signing new leases lol. Then when I moved out I had a good friend who took my apt and signed a lease AND I got my entire deposit back.😊

@NoQuarter01 5 күн бұрын

@@ArcConAK there you go! There are good landlords out there. Alot of people that always hate on them are also terrible tenants. Always pay late, always have excuses, trash the properties etc.

@PropertyCastYouTube 8 күн бұрын

Thank you for this fantastic video. I'm excited to see what you come up with next.

@KaayJaay 16 күн бұрын

Awesome content!!! Thanks for sharing your lessons learned!!

@roberttanner8443 16 күн бұрын

Thank you Ken for the important information.

@chadstokes49 16 күн бұрын

Great show…. I always learn a lot from both of you.

@micdoses1 16 күн бұрын

You guys are genuinely good people

@nkhan1878 17 күн бұрын

Communication and respect are very important.

@Joe-dw1dy 17 күн бұрын

We also have an undocumented happy clause if you’re not happy, you can leave 60 days notice.

@KaayJaay 16 күн бұрын

Awesome clause

@jameswalker366 16 күн бұрын

Undocumented? So, unenforceable?

@Joe-dw1dy 16 күн бұрын

@@jameswalker366 you don’t want to ever document that a tenant can walk away from there lease, if they are not happy living at your property. Than it makes your lease worthless. This is great for them and not good for the lessor unless it’s not worth dealing with the tenant.

@jameswalker366 16 күн бұрын

@@Joe-dw1dy Good point. Well made.

@kalebwilliams5669 15 күн бұрын

Ken, can you make a video on how to self manage a property on your own? How to do back round checks? Where to find lease agreements? Best place to market? Thanks!

@jeremylongstreet7613 16 күн бұрын

how about for commercial suites? How do landlords work with small business owners where the revenue coming into the small business is dropping due to their customers coming in less?

@unvjustintime1 16 күн бұрын

Your wife is right! Wasting time to deal with a 3 day late payer is definitely worth it! Too bad AI couldn’t do that, like Coleen?

@denicelopez9467 16 күн бұрын

Danielle keeping it real lol with the call out. Good

@user-nl9ny3zz6t 17 күн бұрын

Consider investing in farmground. Famrers pay like clockwork. Insurance cheap for liability insurance only on bare land. No calls for broken things or cant pay issues. Less stress for the owner IMO. Thanks for your videos. I love to watch advice videos from successful people like you.

@thomasfreeman4578 17 күн бұрын

Ex full time farmer for 40 years,,,,not enough return on your investment on farm land.i own land,but if you want to make money,more profit in rentals or store and locks

@AJohnson0325 17 күн бұрын

My family owns a farm that has been in the family for generations so it’s paid off. The cash flow is really not that great at all. The farmland has appreciated a ton though. The cash on cash return isn’t good though.

@thomasfreeman4578 17 күн бұрын

@@AJohnson0325 I agree,,,need to own the land if one can afford,,,but not a financial reward,heart rewarding

@clyubove 2 күн бұрын

Where would you suggest I get a detailed lease for GA?

@dhowto3005 13 күн бұрын

Thanks!

@markspringer5062 17 күн бұрын

Can you send your lease?

@diegoarcila842 15 күн бұрын

Are you guys offering limitless online? I will be out of the country and can’t make it.

@Josh-fy7ge 13 күн бұрын

It’s a very conflicting time, with a recession on the way I’d assume buying now is not the move.. but when the renters market is over and house equity rises, wouldn’t it be beneficial to buy now?

@jeffschuh1800 14 күн бұрын

If your tenant ads people, should you add extra deposit or add a modest extra fee of something like $100 a month? Who is responsible for the lease/rent, when you have different people in a house? Do you re-write the lease?

@jerrywalden7131 16 күн бұрын

Great comments....... wish you guys were around 30 yrs. ago....

@Joe-dw1dy 17 күн бұрын

Google forms, creat a pre-showing question-air, so you won’t have to kiss so many frogs. If you don’t know how to do it have chat GPT do it for you.

@stevosworld4896 16 күн бұрын

I did 2 year leases on all my tenants.

@KaayJaay 16 күн бұрын

Smart. Locked in same rate?

@722Mystic 17 күн бұрын

Most landlords do suck. That’s why I felt pressured to overpay for my house in 2006, because I was so sick of crappy, violating landlords with zero respect for a great tenant. It’s astounding and stupid but true.

@lyleburlingame2276 16 күн бұрын

Small time landlords that self manage are better. Like myself. I actually care about my tenants.

@KaayJaay 16 күн бұрын

Many landlords are oversubscribed

@SupremeMotorsUSA 15 күн бұрын

Not all landlords suck. They have expenses too. That is the same as a plumber, a teacher, or any other profession. The hate needs to calm down. Landlords help people more than they are recognized for. Some are bad but that is the same for every industry

@KaayJaay 15 күн бұрын

@@SupremeMotorsUSA preach.

@hummervee3395 16 күн бұрын

QUESTION I’ve heard you say a cash out refi is not taxable income. My question is are the payments associated with that refi 100% tax deductible or only the interest? I own on my property outright and I want to borrow $300k on it. Let’s say my rent income is $2000 and my refi payment is is $1500. Is that $1500 an deductible expense? Thank you

@GreenBeanGreenBean 6 күн бұрын

more a case of what you do with the cash out refi.... the money you take out from that has to be invested somewhere to make it tax deductible.... you can't just go off and buy a boat with it.

@swervi1 16 күн бұрын

10:19 "hang on"

@AFame168 17 күн бұрын

I’m a Lienlord. Learn it, try it, and you might leave the Landlord business and become a Lienlord.

@yonmoore 17 күн бұрын

That's my ultimate goal!

@_JohnJohn_ 17 күн бұрын

Thank you

@lancealderman2755 17 күн бұрын

Do you just buy houses and then seller finance them? I've been thinking about doing that... I don't really want to manage any more but I like to buy 😅

@NoQuarter01 17 күн бұрын

Ssssshhhhhhhhhh quiet ;)

@timcounts4334 17 күн бұрын

Seller financing since 2006 not without problems but still the best!

@winnersnewsnetwork 15 күн бұрын

A good vacancy is better than a bad tenant

@rossferguson5786 15 күн бұрын

Love K&D ! They are too kind. Most tenants aren’t savvy let alone even mildly intelligent. They are often lazy underachievers. Usually for 2 reasons : they rent because they are trying to live a life and lifestyle out of their league in an expensive part of town. They are too complacent and lazy to find a property within their means to purchase ! I can’t stress this enough. Most tenants are as lazy as the day is long.

@johncarnettie6804 3 күн бұрын

I moved to my car and plan to steal all I need to compensate for high rent.

@leehettig 16 күн бұрын

Wait what? You two rent?

@NikeMikey101 16 күн бұрын

Section 8 problem solved. Always get paid in a recession, or COVID. Money is always there come the 1st.

@KaayJaay 16 күн бұрын

Preach

@gastUCR 17 күн бұрын

Lip…. FILLER….. quack quack.

@alina-xc1jd 16 күн бұрын

And your point is…?! Let the woman enjoy her filler.

@KaayJaay 16 күн бұрын

Hater in the house. Just enjoy the KZfaq episode

@rc-nitrokid 16 күн бұрын

Lol

@danielsutton2010 10 күн бұрын

The eyes are wild

@zm5513 15 күн бұрын

Being married to a billionaire makes it easy to “not charge “ the tenant

@BroxsonDeighan 16 күн бұрын

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.

@jadewashington7 16 күн бұрын

She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states

@mikesnoek 16 күн бұрын

The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.

@marthasteward0 16 күн бұрын

I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.

@ForwardMozell 16 күн бұрын

I'm new at this, please how can I reach her?

@salinagauntlett 16 күн бұрын

I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

@VicDamoneJr82 15 күн бұрын

She sounds like an annoying landlord

@samham4393 16 күн бұрын

Holy moly what did that lady do to her face!!

@KaayJaay 16 күн бұрын

Don’t hate

@rc-nitrokid 16 күн бұрын

I was wondering the same

@rongustaveson4493 17 күн бұрын

So she has 1 maybe 2 rentals and she is an expert. Ken I know thats your wife but let her ask the questions not try to answer them. SHE IS NOT AN EXPERT!

@TherealBrandonHatcher 16 күн бұрын

The thing is she is closer to 99% of people's situation than Ken. If you don't have real estate you can learn alot from people 1 or 2 steps ahead. How many units do you have?

@KaayJaay 16 күн бұрын

I like her first hand experience!! Lessons learned. Best practices. 😊

@hughobrien4436 16 күн бұрын

I disagree it's an issue since every thing she says is vetted by Ken. She talks this talk with him everyday so I also disagree she is not an expert, it's all tacit knowledge being transferred.l and we have the privilege of listening.

@josephedlin2172 16 күн бұрын

I think she’s in a position closer to most listeners. Personally I have a few but I’m not a professional… on the other hand she is also talking to Ken about this every day so she’s got a lot more exposure to professionals at levels above her than I do… and I’m not willing to marry Ken so… I’ll listen to what she has to say 😂

@KaayJaay 16 күн бұрын

@@hughobrien4436 it’s good knowledge sharing