How To Realistically Escape Your 9-5
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- čas přidán 29. 07. 2024
- Ken McElroy walks through the transformative journey from being trapped in a 9-to-5 job to achieving financial freedom through real estate. This video provides a step-by-step guide on leveraging your current position, identifying opportunities in real estate, and scaling your investments to build wealth. It's a must-watch for anyone looking to escape the rat race and secure their financial future.
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ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s 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/
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If you guys want ken to keep making videos like this please share with someone you think would benefit!
thank you.
The real estate market is under attack you are not going to do what you're talking about real-estate will not be what we know they are changing every about our business
Oh Ken you're such a good force for the world. Recently you started giving giving and giving even more. We feel the love.
How to quit as fast of possible. Step 1 don't. lol
Yeah, very click-bait title.
😅
He never said quit, he said escape in a realistic way
@@henryhandesign He changed the video title. It was how to escape your 9-5 as fast as possible. I just noticed he changed the title.
@@henryhandesign The author changed his video's title. Also, his video's thumbnail is still showing an animated picture with caption "Get Out Now!".
Cash flow quadrant was so helpful! I skipped 2 steps I went from W2 to investor the BRRRR strategy was what I did. I was heavy cash went all in I’m 45 years old financially free making over $150k a year NET over 5 million AUM once you learn what Ken is talking about you can’t unlearn it. You will always be calculating your cash on cash return on everything. My exit strategy is to retire in Mexico or Cosa Rica. Make your wealth in US dollars and spend your retirement money in Mexican pesos
Thailand might be cool too
I like business and couldn't afford to go college, so I did business part time. I used to carry crockeries, etc... on the bus ( had no car ) on a packed bus on high heels and sold on payment to my colleague in the seventies. I progress to real estate rental, sales and even painting those properties myself. I finally did used car business , love the work and through that did business all over the world.
Impressive
@@barneyrubble957, Everyone can do it , if they find the urgency not to be the tail.
I love this. Jim Rohn said use you Resources & Initiative. Sounds like that is what you did! I'm teaching my kids thr same thing. I have my own business but my daughter loves Yorkies. We started looking into breeding. She's looking into mentoring with the breeder we worked with for our 4 dogs to learn the business.
Thank you for this kind of content!
Great advice. Thank you 😊
Very helpful Thank you for sharing
Thank you for all of this valuable content Mr. McElroy!
Great videos and good length to keep them coming
Thank you Ken
May You Be BLESSED MR. Ken Same With Your Crew Members All For Your True Podcast Wwooww!!! BLESSINGS FOREVER
This was great! Thanks Ken
Thank you for making this video, Ken!
Always great analysis Ken . Keep it up 👍
Love this Ken
Thank you for this video Ken. This is very helpful
Love your videos, Ken! Tons of good information, delivered at a good pace and explained clearly. Thank you!
Thx Ken
who is working 9-5? I am working 6-8 plus not too rare emergency calls after 8p.
9-5 means just a regular stable job. Not the hours
@@tyrecarmon20 well, yeah. The 9-5 jobs is a thing of past.
Unless you’re making 300k+, you’re majorly fucking up and wasting your time.
A lot of ppl work 9-5, hence why you still see “rush hour” before/after those times. Well not you since you’re a degen, but normal jobs.. yes.
Thank you! -Erik
Every single one of your videos packs a KO punch worth of value. It’s no wonder you work with RK. Would love to interview you on my podcast
Very good video a nicer production, nice color background and your shirt. People want to see you and hear from you because you have the knowledge.
Love the doctor example
Helpful, as always. See you at Limitless!
This person is the man in the track
Awesome video
One must acknowledge how corporate America (and all over the world) changed for the worse. Constant layoffs and reorgs, downgrades, less benefits, salaries that have been losing purchase power year after year, little by little. Etc... working for a big corporation 20 years ago (when I joined one) was a completely different thing. 30 years ago was even better. No wonder gen z is pushing back hard and older people can't seem to understand it. Working these days requires more effort, more degrees, more investment of time and money just to be compensated less with higher job insecurity. Gen Z must have a plan B... and please keep pushing back!
Make video on building, construction loans!
I notice wholesaling was t on the list.. any reason why?
First! Learning lots, thanks Ken
I can't get to my comment so fucked up
I really hate my current 9-5 job, but I don't know what to do. I've tried different things, like reading books, online courses, CZcams Videos and I discovered that I'm really passionate about Machine Learning and Robotics. However, I'm not sure if I should fully commit to studying and gaining experience in these fields, as it seems the job opportunities might still be typical 9-5 roles. Even if I enjoy the work more, I'd still be in a 9-5 job. I'm really struggling to figure out what to do...
Its great advice, but knowing where to start is so difficult
This is a great pump up talk, but what about right now?
Exactly what opportunities are there in the current environment?
Too expensive to build. Commercial office space is getting hammered. Multifamily is overvalued. Too much dumb money driving up valuations on SF & MF. Flips don't work unless you do the work yourself.
Am I missing something?
This is where I am. The only thing I can think of is to take it on the chin for a couple years with properties and then refinance when the fed drops rates...buy more properties or increase cash flow with the refi.
Sell it all. Rinse and repeat.
I’m guiding my son who is 24 years old to go into the real estate space following Ken’s methods, he already invested in Tech, working 9-5, as for me I’m a school psychologist and only have summers off, but I want to scale my recently approved patent to the market, Ken is inspiring with his story, my patent is related to my career. Wish me luck 🍀
🙏
What if i want rentals without the hassles of dealing with tenants? Is it unwise to use a property manager?
Their best interest is not your profit.
I see where I went wrong. Jump ship AFTER the second and third streams of income are in place!
Woah hahaah, I did quit my job :D (but with no debt, skills, experience, network, savings and investments)
AAAAND it's still super hard to build a profitable sustainable business!!
I got a lot and building plans
Lot paid for but it's in a rural area Lender didn't approve my construction loan 😢
Dude go try some more lenders!
Did you purposely make this video 9:05?
I'm getting close to 50 yrs old. is it too late? just don't have the energy I did before. trying to figure out a niche maybe excavation. have to see if there is a need first.
No. It’s not uncommon to make it within 5-10 years. You have time
Good points. My oldest daughter is interested in the nail tech business. She recently became licensed at 18 and we habe talked to her about plannong her path forward. She is starting as an employee at a franchise and have encouraged her to gain experience hands-on and learn from the owner so she could one day have the optionnof expanding to own her own franchise.
I work 1 hr a week. Picasso level. It took me 30 yrs to learn how to work 1 hr a week.
I had a dream you were hosting an event and my cousin and I happened to be nearby an NBA team later in the day while we knew where you were and I was going to walk into the owners office and see if i could get a LOI to buy the club and I was going to bring it to you to keep 1%.
The moral of the story is… if you want to retire early, Get an LOI, bring it to an investment group and use your hustle to acquire sweat equity in businesses or property. One deal of large enough size can change your life.
I’ll let you know if I run into Arod and can buy the Timberwolves or whatever, lol
What is LOI
@@youmayberight2434 letter Of intent. Letter of you intent to buy the business or letter of their intent to sell at a particular price. Common in real estate also.
4:12
tALKING HEAd
The things Ken says is good but mostly lecture based and not really showing us the nitty-gritty stuff.
You are posting only what you want
Real estate is not get rich fast. It's extremely slow. 20 years to get $100 cashflow after expenses and mortgages. It's not the right vehicle if you want to leave a 0-5 fast. In fact in the US, it's not really even profitable anymore for 99.999% of people that haven't been in the game 20 years +. I would not have anything to do with US real estate if you are looking to leave a job. That's the real truth.
Your market must be terrible. I cash flow well on all of my rentals, especially the legacy low cost basis rentals. Trying to find something to cash flow today is much more difficult and hopefully the current market will flush out all of the day tripping investors and being normalcy back to prices. That’s the real truth.
These view points don't work in todays changing business environment. From the 80's- to late 2000's perhaps. Now? No way. The climb toward success is becoming thinner and thinner which is by design. You cant have increasing inflation, mounting national debt, broken supply chains, high interest rates and AI to name just a few and expect to pitch us on 20 year old information and expect us to get any success. Large retail chains are closing stores like madd, retail bubble is about to burst taking real estate with it. Truth is, you have no clue where the money is and how to make it today. And the money that is being made are going into the likes of the big boys like Amazon and Walmart. The rate of change is too fast and unpredictable. And when AI gets fully rolled out, that will be another massive decline of jobs. Your making your money off you tube revenue giving out information that no longer works. Your better off saying "make a CZcams channel pitching people on useless information and sell them books".
No matter when, there has always been people like you who cry about the circumstances and use that as an excuse on why they're not successful, yet no matter when in time, there are other people who are becoming millionaires and financially free.
You are a fortunate person and it's time you actually said it instead of implying that you (and other rich people) are more Brilliant than the rest of us.
Hey Slick, you didn't choose your birth/incarnation. You could have been born in Gaza with nary a penny to your name and a whole lot of shrapnel in your ribs. You wouldn't be such a hotshot business mogul in that case, would you?
Find some humility within. It has to be there. Those guys who built your houses and properties are far more skilled than you, and yet you are the one who gets all the money.
May this keep you up at night for the rest of your life. I wish insomnia upon you, Slick.
He never said he was brilliant. If you watch his videos.. he’s quite honest about it (as honest as one can be) but he definitely doesn’t have ego compared to other rich ppl. Your poor minded self is toxic. Do better