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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
How Infinite Returns Work in Real Estate Investing - Ken McElroy
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- [00:00]
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Rich Dad Radio Announcer
This is the Rich Dad Radio show. The good news and bad news about money. Here's Robert Kiyosaki.
- [01:10]
Robert Kiyosaki
Hello, hello, hello, Robert Kiyosaki, the Rich Dad Radio Show. And I apologize, I have a little cough. So if I cough every so often, that's what's happening. And our guest today is my one of my best friends in the whole world, Ken McElroy. But I'm going to give you a little update. Bring up to speed. Before Kenny, what happened was so again, I was coming out of the marine Corps in 1974 and my poor dad said to me, says, why don't you get your PhD? I said, my PhD yeah, and fly for the airlines. Because I was a pilot, so many of my classmates flew for the my. We flew together, the Marine Corps. They went to fly for the airlines. And I said, I don't want to fly for the airlines. I've had enough flying. Six years of flying. And then so I asked my rich dad, what should I do? I said, I want to be an entrepreneur like my rich dad. And he says, well, if you're going to do that, you'd better understand real estate. And I went, why? So this is way back in 1974, and I didn't really realize that you can't see something you can't see. So then with that, I took my rich dad's advice. I took a little real estate investment course. And my rich dad says, because real estate is the object of becoming an investor. In other words, a lot of people invest in a 401k stocks and bonds, mutual funds. My rich dad says, you have to buy real Estate, Rich real estate. Gold and silver, the basis of wealth. So with that I became. I took a little real estate course. I had to learn how to buy real estate with nothing down. And this is at Honolulu. How do you buy real estate with nothing and still turn a profit? That was the question. So I finally found a guy who could teach me and I bought my first piece of real estate. Island of Maui. I paid nothing for it. Cost me and I made 25 bucks. So I paid nothing for this one bedroom, one bath. It wasn't quite oceanfront, but it was pretty close to the ocean. And I paid for my credit card. So it was a hundred percent debt financing, which is what my rich dad wanted me to do. He says, you have to learn how to use debt. There's good debt and bad debt. So back in 1974, I bought my first piece of property. I used a credit card for it and I made 25 bucks. It was an infinite return. In other words, I had none of my money in the deal and I was still making money. And infinite comes out of here then. And that was my first investment. Since then, you know, I still invest in real estate. For those interested in real estate, this here's a bible. It's called Rich the Real Book of Real Estate. You want to know anything about real estate, it's in here. It's all different. There's so many different ways you can make money with real estate. So if you're really interested in becoming one, here's the Real Book of Real Estate. Different investors talking about how they do it and then wrote this book here with a real, real estate guy, Donald Trump. And I met Donald in the green Room at the Javits center in New York City. And there was about 8 or 10,000, I don't know how many people. We did it at Marconi center in San Francisco and Donald and I traveled the world teaching real estate all over the world in the meantime. Then I met Kenny McElroy. And back when I met Kenny, flipping property was really people would buy a house and flip it for money. And I don't flip. So when I met Kenny, we know, we were talking, I said, you're probably a flipper. Kenny says, no, I don't flip because I'm going for the infinite return. And Kenny was the first guy besides myself and my rich dad who understand how to make money with nothing. So with that I've been with Ken and I've been best of friends for like 30 something years now. We've traveled the world with a lot of laughs. And I got detained in Moscow. I don't know what for, but he got detained there and, but it's been nothing but a great, great road, you know, road trip all over the world together for 30 years. And now Kenny puts on these huge, huge real estate seminars that I recommend. I haven't talked to you about it, but if you're really serious about real estate, you know, it's more than just buying a two bedroom house and flipping it. So again, this is the Bible, Rich says real guy, real, real, real, real book of real estate, all the different ways you can invest in real estate. And with that I'm bringing on Kenny McElroy. We're going to talk about our favorite subject, real estate. Welcome Kenny.
- [06:00]
Ken McElroy
Hey, how are you? Great to see you as always.
- [06:03]
Robert Kiyosaki
Good see you. We've had some laughs, haven't we?
- [06:07]
Ken McElroy
Oh my gosh, so many. We would get in trouble if we go on and on and on but you know, you know, the road together is so fun. But there's a lot of pranks and a lot of fun. I mean there's a lot of work. It's fun to teach, but at the same time we have a lot of fun.
- [06:22]
Robert Kiyosaki
But anyway, we've made. When people say how do they get rich? As I just know Kenny McElroy because Kenny was the only other guy I met who back in the forget what now, they were flipping properties. I like to flip because it takes a long time to find a great property. Why would you sell it? So Kenny was the first guy that didn't flip it. And we use infinite returns and that means we use none of our money to make money. In other words, we use brain power. So welcome to the show, Kenny and a lot of laughs and all this. Would you mind give people a little bit how your background in real estate really quickly on this one?
- [07:05]
Ken McElroy
Sure, I'll give the quick version. Well, when I was in college I started managing apartments for free rent. And there's nothing better than actually doing something as you know, you can read about it, you can watch videos, you can do whatever, you can hear people discuss it but at the end of the day, unless you do it, you don't really learn. So I, it was actually kind of neat because I got, I was in school for business but I was studying it, you know, technically and, and so by actually sitting there collecting rent, looking at the expenses, coding the bills and, and, and understanding cash flow from a business standpoint, that was really my first huge education and I, I really liked the business because there's a tremendous amount of freedom. I understood it for whatever reason. For me, it was like water off of a duck's back. I just literally, I liked property management. I, I, I like the tenant, the relationship side of it. I like the business side of it. I like the freedom side of it. And, and I just really continue to do that for a long time for other people. Robert and then I, then one day I was like, I'm on the wrong side of the desk. I need to, I need to start buying these. But I really believe that I needed that time frame in the beginning that, you know, the education side, to be able to see, like what you said earlier, be able to see something that's broken. Maybe it's highly vacant, maybe the expenses are high, maybe it has bad debt, maybe whatever there, you know, maybe it just needs some new capital to be refreshed, whatever it is. But having gone through the property management grind and seeing it from an operational standpoint gave me the power and the strength to be able to buy. Now we own 10,000 apartments. You know, we've got about 400 employees, and, and, you know, there's a zillion lessons there as well. But, but I'm a cash flow guy. I like infinite returns, like you were talking about earlier. I use debt, I use the tax law, which I didn't know any of this stuff when I started. Not one thing. I swear, I didn't learn any of this in school. I just learned it from doing. And, and then, of course, I was on my own journey as well, you know, trying to be better at what I was trying to do, trying to understand tax, trying to understand debt, trying to understand equity, trying to understand where to buy and why and all of that, and it's been a, it's been, it's been a blessing, all of it.
- [09:35]
Robert Kiyosaki
Yeah, Real estate people think I'm just going to buy a house to get rich. That's not it. And the amount of study and experience and all the things you have to understand before you get into it. So the other thing that happened with Kenny is he realized he was dealing, doing business with guys like me, talking about the other side of the desk. So these guys would come up and Kenny would hand over checks, all this cash to this guy who owned the place. And the light's going in Kenny's head. He goes, I'm on the wrong side of the table. So what he did is when he went for the investor side, not the operation side, so he became an investor. So when I met Kenny, when he said he was in property management. My lights went on because if you can't manage property, you shouldn't be in real estate because real estate is highly property management. It's just all management. So that's why you've written a couple of books on real estate. That part of the rich dad series, which you might tell us this books that for people want just get started.
- [10:40]
Ken McElroy
Yeah, of course.
- [10:41]
Robert Kiyosaki
Yeah, yeah.
- [10:41]
Ken McElroy
Well the first one with encouragement from you was the abcs of real estate investing. And 20 years ago, you know, you know, and, and I, I remember you, you, you really saying listen, like there's a lot of people that would like to know how you've done this. And, and, and I didn't really understand the power of books and the power of that. And, and it was really an eye opener for me to be able to, to write, pour out what I've done to that point and into a book and, and have, you know, millions. And then after that was the advanced guide which was a little bit more technical and then the property management book, Abcs of property management. The abcs are raising capital and of course the abcs of buying rental properties. So all of those books were, were, you know, educational pieces for really to, to teach with. Well, while we were traveling around with you.
- [11:39]
Robert Kiyosaki
Yeah. And that's why I said a lot of people when I met Kenny 30 years ago, people were flipping and people still flip. But to me, you do a flip, you got a short term capital gains problem. And the reason why Kenny on board, he's so sophisticated that it goes back to my original deal. My rich dad said for me back in 74, how do you buy real estate with nothing, you know, other people's money and still make money? So if you have none of your money into the property, and I was making 25 bucks, that was an infinite return. He, we buy property, Kenny fixes it and then he borrows out the equity. So he takes a property with bad, you know, bad valuation appreciate noi net the operating income, he increases it and the increase in income or rent, he borrows out and he gives it back to the investor. So when I met Kenny, the reason I'm a rich man today, for many reasons, we have none of our money in the deals. We're going for infinite returns. And that comes from these two points here. But I don't recommend you try that unless you're really ready to study. Put in the hard work, make your mistakes and it's worth it. So Kenny, we got two minutes before the first break. What's your definition of infinite returns.
- [13:13]
Ken McElroy
Well, infinite return is simply owning something that produces cash flow when you have no investment in it. I think that's the definition. And so the question is, how do you do that? There's a lot to it. First you got to find the right deal. So in a real simple way to explain it, I look for broken. I look for things that lenders own. I look for things that are poorly managed. I look for things with upside. I look, you know, think about a vacant building that you've driven by 100 times, that that would be broken. Somebody owns it, but there's no rent coming in. So, so all you do something as simply as finding a tenant for the building, it could be that simple. So, and then once it's, you know, I would call it fixed, then you, you really just go put debt against it to replace the debt or the money that you already put down. And I'm simplifying it. But, but it really is quite fun if you, you know, because you're. Everybody wins, right? You're, you're the, you're finding an opportunity and you're helping investors, you're helping lenders, you're helping people that are, you know, property management and, you know, and, and people are happy.
- [14:31]
Robert Kiyosaki
So.
- [14:32]
Ken McElroy
I love the business. I, I just think it's the greatest thing ever. Once I discovered it, it's. It's hard to unsee it, right? Like once you, once you know how, once you know how to invest money and you know, it's two, three, four years short term, and then you're pulling it back out and just redeploying it, it really starts to get fun.
- [14:52]
Robert Kiyosaki
So I had the pleasure of traveling with Kenny once to look at a property, I think it was in San Antonio. And I was there, I was there with your fix it guy, the guy that actually did your construction. And it was. Somebody was a skip of the Titanic. I think it was like 300 units or something. And they just, there was nothing there. The place they took, they opened up the walls, they took all the copper out. And sitting in the middle of the living room was the toilet. Yeah, I remember that. I'm going, man, this is a horrible looking property. And all Ken did was look to his guy who could fix it, because no big deal. So what they did was they took that property. He got it for a song. So undervalued. Then I put my money in. Kenny takes the money, then improves the property, then increases the rent. And the increase in rent is what services the debt. Is that basically it?
- [15:52]
Ken McElroy
Yeah, you know, Here, I'll just give the fast version. So it was bank owned, that's the first thing. So the bank had a problem and it was 50% vacant. So, you know, because of my background in property management, be able to fix stuff. Yeah, I wasn't afraid of that at all. So I knew how to fix it. I didn't know if it was going to take a year or two years, but I knew I could put the team together because of my background that I explained before. So. So the money that we put down and the negotiation with the bank and all that stuff was all great and I knew how to pull all that together. The question was, what would it be worth when I fixed it? So you always got to start with what are you paying? And then what are you worth? What is it worth when you fix it? So we paid, we bought the note for about 20 million. We put seven and a half in and I knew it was going to be worth over 40 in two years. That, that's based on just fixing something that's broken and it actually being appraised for about 42 million. So, so we ended up, we ended up hitting, hitting the business plan the way that I thought. And at that point we put new debt on, pulled the original capital out and that point everybody had zero in. And that's kind of the point that, that means that from there we were.
- [17:06]
Robert Kiyosaki
Infinite at the income.
- [17:08]
Ken McElroy
Yes. We didn't sell the property. Everyone stayed in. All the people stayed in. They just got their money back again.
- [17:17]
Robert Kiyosaki
Before we go to break, there's one last thing I've seen Kenny do. There was a property, I think what he did was he put in washing machines or something. So he borrowed money to put washing machines in. It increased a rent and the rent then covered all the costs of the washing machines plus the building. Another infinite return.
- [17:39]
Ken McElroy
So that's just another.
- [17:41]
Robert Kiyosaki
Yep.
- [17:42]
Ken McElroy
Another strategy.
- [17:42]
Robert Kiyosaki
I'll.
- [17:43]
Ken McElroy
I'll go in more detail after, after the break on that one.
- [17:46]
Robert Kiyosaki
Yeah. So that's just one way. And it takes creativity, takes guts, but it takes a lot of experience and years of, you know, making a lot of mistakes along the way.
- [17:58]
Ken McElroy
Okay.
- [17:58]
Robert Kiyosaki
And we come back, we joined with Kenny McElroy. He's the author of Rich Dad's Guide to ABCs of Real Estate, Property Management and Financing Properties. So we write back because what you want today is an infinite return. You make money without any of your money being in the deal. We'll be right back.
- [18:20]
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- [19:20]
Amazon Music Narrator / Lennar Investor Marketplace Narrator / HomeServe Narrator
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- [20:21]
Robert Kiyosaki
Welcome back Robert Kuske, Rich Dad Radio Show. My special guest today is my long friend, over 30 years now, Ken McElroy. He's made me a very rich man. But Kenny talks about his aha moment was that he's a property in college, he's property management, he collects all the rent, he manages the property and this investor pulls up and Kenny gives the cash to the investor and that was his the lights went on so Kenny switched sides of the table. And now I'm one of those investors that comes up to Kenny and he makes a lot of people very very rich with 0 of their own money in the deal. He's 100% debt. Now don't try this at home unless you're willing to practice because debt can kill you one way or the other. And the reason I want to bring Kenny up right now is this. Everybody keeps talking about what's the Fed doing in the three of cold row what's interest rates, all this stuff, it's important. But when people keep talking about the Fed, how much does that affect your thinking? The Federal Reserve Bank, Should I say?
- [21:26]
Ken McElroy
Well, first of all, you gotta watch that stuff. Those are indicators for sure. But I think for a lot of people they're just a distraction from actually getting busy. You know what I mean? Like, like it's important, but the Fed doesn't, you know, everything that they do takes a year to a year and a half to two years to even hit the economy. Like everything like an interest rate increase or you know, you know, so they're, they're a slow moving animal. You know, the market, the stock market definitely reacts and you know those kinds of things, you know, obviously based on some decisions. But real estate is, it's a slow moving animal and you know, a quarter point here, quarter point there. I'm not going to say it's not important but, but it, I don't understand why there's so much focus on it. It's, you know, you focus, if you focus on cash flow, if the Fed, if the Fed's lowering the federal funds rate and interest rates are going down and the 10 years going down, all that stuff then you just refinance on the way down. It, it's a slow process. If it, you, if you fix your rate and the, and the rates go up, you're hedged, you know, you're, you're good, but you just make sure it cash flows every single time so you don't have to worry about the Fed. So the Fed is something that you gotta watch. But it's no different than the way I watch a, a tenant or a vendor or you know, anything. Like it's just, it's just one thing.
- [23:01]
Robert Kiyosaki
Well, the way I look at it is the Fed is like the cost of the money because we're using 100% debt. The reason I mentioned my first property, this was back in 74, a piece of one bedroom apartment in Maui. I think it was $18,000 was the total price I needed. 10% down. Now I could have used, I could have put $1,800 down and got the property. But I use my credit card, so I maxed out my credit card and I'm paying about 30% interest on that credit card and it's still cash flowed. So all this is the price of the money. It's like the price of electricity, the price of water, you know, the price of sewage and all this. It's just an expense out there. But you have to Pay attention to it. So when, Kenny, when you, when you. One thing more you talk to me about. This is called deal flow. How many deals are you looking at as an everyday practice?
- [24:04]
Ken McElroy
Well, we have a, we have an investment committee with 10 people that meet every week and there's a tremendous amount of work that's done before that meeting. So in fact right now during this filming there's a pre investment committee meeting that I'm not on to review deal flow. So to answer your question, there's hundreds of deals right now we're looking at probably 20 seriously underwriting most of those to see if they make any sense at all. And then it's typical for an investment committee to, to look at one to three a week and we'll make an offer on one, one or two a week and probably get zero. You know, like, you know, there's a whole process of looking at the deals, getting the information from the brokers, underwriting it, seeing if it cash flows, you know, and then most of those don't even make, you know, the, they're on the cutting room floor, I guess is a great analogy. And then the ones that actually come, they usually have to have some kind of story, some kind of upside, some kind of cash flow. Like I'll give you an example. We're looking at a deal right now that's a 20, 25 build. And we, we made an offer for 127,000 a unit.
- [25:28]
Robert Kiyosaki
Wow.
- [25:28]
Ken McElroy
Brand new construction. And, and you know, which is, you know, maybe some people know what that means. That's a hundred thousand dollar discount that the person that built it per unit and it's 250 units. So you can imagine it's a, it's like a $25 million discount. Now I might get it, we might not get it, but those are the kinds of ones they have a great story. You know, it's not highly occupied yet, so we could fix the management and we're looking at stuff like that a lot. Robert. We made, last week we made an offer on six properties, 1410 units that were lender owned. So every, every week, you know, there's something new.
- [26:12]
Robert Kiyosaki
Yeah, the reason I say that, the average person, you know, they go to school, they get a job, they have a 401k and they don't even look at the deal. You know, they just go to their, the financial planner just puts money in their 401k. They learn nothing. I think that's the biggest crime with real estate, high risk. But you have to learn a lot to be successful. With a 401, it's just hit or miss. Let's say you start investing a 4k at 25, and hopefully at 65, you have money left. But there's no guarantee of it. So the reason Kenny and I talk, we talk all over the world. We teach, we encourage people to go out there, learn to put your own deals together. And you might look at. I remember when I was first looking for my first property in Honolulu after the real estate course, and I wasn't successful, and my rich dad said to me, this is the reason is you haven't looked at enough deals. It was like the lights going on. I said, my God. He says, you got to step up what Kenny calls debt, deal flow. Look, look, talk, invest. People look at one, they quit, they go home. There's nothing out there. Oh, the Fed said this. There's nothing out there. And all the Fed is the cost of your money. It's like the cost of your water, your electricity. That's all it is. But it's important. So what would you encourage the. The. We call them the fn, fng, the FMU guy to do? How. How should they get started?
- [27:50]
Ken McElroy
Well, I think that the reason that you wrote Rich Dad, Poor dad, the reason that you created the Rich Dad Company and the reason I teach and the reason I do books is, is one is that the way the system works is that Wall street reaches in everyone's pocket and uses your money anyway. Like they. They make you put it into a bank, you put it into a pension, you put it into an insurance company, you put it into a retirement account. Those are all people making money off of what I would call Main Street. And so when you wrote rich said Poor dad, what you did is you woke up Main street, you gave people the, you know, you enlightened them and said, wow, I guess I do have options rather than turn my money over. And I. So I think you, you know, that's what drives me is, is, you know, if. If you're just going to work your butt off and turn your money over and not understand why or how, and then hope, you know, that's why you wrote the book who Stole My Pension. Like, people are doing this. It's just. It's a travesty. Now, the interesting thing is that they are in control of their future. They are. They are making choices themselves. If people just understood that they, you know, the right thing to do is actually use Wall Street. Use it. It's like a. It's like a tool in your tool belt. Like, be Main street, but use Wall street, because otherwise you're getting used by Wall Street. You're either. You're either the consumer or the producer. And, and so, you know, that's what drives me, Robert, is, is, you know, we're. We're helping people understand that, you know, do your own thing, make your own money, but. But just understand that you are a product. You are a product of Wall Street. They're making what I said for you and directing you on where to go.
- [29:47]
Robert Kiyosaki
Yeah, I say to people, I can tell a person by what they do, what they invest in, what they do with their time, what do they invest their money in. Things like this. When I was a kid, my rich dad was flying to Honolulu, going to seminars, and my poor dad said, look how stupid your friend's father is. He goes to seminars. There's only one place you can get an education that's a college or university. I mean, that's how stupid my poor dad was. And we do seminars, Kenny, and doing seminars all over the world. We have friends doing seminar now. Now you have YouTube. There's so much information available to people, but you still have to have the basic foundation in the brain to process the information. So would you mind telling people what seminars that you do so people can come and hear you in persons and you'll be there to teach?
- [30:38]
Ken McElroy
Well, I think college for me, Robert, gave me an opportunity to realize that I needed some education. Now, I don't believe you. Financial education in college, but it. What it did is it made me realize that there's a lot I need to know. And so, like you, I started reading books and watching things and going to seminars and trying to, I guess, sharpen my saw, my personal saw, because that's all I have control over is. Is how I think so. And then obviously, through doing that, jumping on board with you guys and rich dad and you guys give me that incredible opportunity to travel the world and all that stuff. And my. Your mind is continually opens as you meet really smart people all over the world.
- [31:21]
Robert Kiyosaki
And.
- [31:22]
Ken McElroy
And so as we've built our investor base and we've invested, you know, thousands and thousands of people's money over the years, I realized that everyone kind of still has the same question, you know, you know, who's telling the truth? You know, like, who's telling the truth about oil and gas or gold and silver or real estate or debt or, you know, mobile home development or self storage or single family or flips or whatever. And so we, we put together a room of those, those folks, the people that, that you know, people I call people that are really doing it, not people that are just teaching it on real people. And we put a room together at our Limitless Expo, you know, every year, which is this year, it's in Phoenix, August 14th, 15th and 16 with my partner Tarl Yarberry. And you know, you're obviously a mainstay there, you know, teaching what you teach, but we have 2,000 people show up. It's a high net worth room. And so if you're looking for a network or you're looking to be in the right room, because I think that's the key to this is like, who do you trust? Like you called me the other day and said what? You know, all this AI, we've got all this AI online. What's, what's real? You know, you were telling me that somebody commented on a you, on an AI video of you and you said, ah, the guy did a pretty good job. You know, like when you're in a room listening to real speakers, you know, it's not AI, it's, it's, you know, you got real people teaching real things that they're working on. So that Limitless Expo to me is a great in person seminar for, for people. We got 50 speakers all talking about different stuff and hopefully, you know, they address some of the things that are on your mind. So I'm excited about this conference that we do once a year.
- [33:13]
Robert Kiyosaki
So again it's called the Limitless and where, where what? The dates again?
- [33:17]
Ken McElroy
Yeah, it's limitless expo.com and it's August 14th, 15th and 16th in Scottsdale, Arizona. And also Robert, if they type in Ken10 then they'll get a 10% discount on the ticket, but sold out four years in a row. This is our fifth year and literally this is six months from now. And most people wait till last minute. Hopefully you don't because you just never know.
- [33:46]
Robert Kiyosaki
There's thousands of people. It's so much to learn. You might meet your future business partner or your future ex wife or something there. But anyway, it's always you find people interested in their education, not just with their 401k.
- [34:02]
Ken McElroy
Well, every year I learned something. That's how I got into the billboard business. You know, like, like the, the kids that I, that, you know, we're, we're in the billboard business now. You know, we're buying billboards at Cash Flow. It's all because of the conference. You got people doing cool stuff all over the world and, and, and you know, to have them all in One space.
- [34:23]
Robert Kiyosaki
It's a.
- [34:24]
Ken McElroy
It's a blessing.
- [34:26]
Robert Kiyosaki
Yeah. The fun funny story, last funny story is we have this guy gets a rich. He's up there saying, yeah, I'm buying property in America. And the prices, he says, the prices are so good. And he's telling us this deal and that deal and all this. And Kenny goes up on stage as Richard talk, bragging about his deal. Richard's a character. But Kenny says, hey, the reason the prices are so good, you're not investing in America, you're investing in Mexico.
- [34:57]
Ken McElroy
Remember that? I couldn't believe it. You know, he was so proud. We were in Singapore at the time and he put this chart up and it was clear. I mean, I guess if you're from Singapore, you don't know where the border is, but you and I are looking at it. It's clear that where he invested was not the US which is why he got such a good deal.
- [35:20]
Robert Kiyosaki
The prices were so good. Yeah. So anyway, Kenny, thank you for the years and years and years. You made me a very rich man. But most importantly, it's always fun doing, you know, working with you, teaching with you. And I'm looking forward to the limitless event in August because that's where I go to learn. I mean, new people, new ideas. Because things are changing too fast to think you're highly educated with your college education. You've got to keep investing in your education, meeting new people and finding about what's happening in the real world. So, Kenny, thank you. And then when I come back, we finally have a final word from rich dad. So thank you. Thanks again, Kenny. Thank you.
- [36:08]
Amazon Music Narrator / Lennar Investor Marketplace Narrator / HomeServe Narrator
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- [37:22]
Alexander Green
I'm Alexander Green, and I've spent the last few months tracking one of the biggest shifts I've seen in my entire investing career. While most people are chasing the same AI stocks. Nvidia, Tesla, Microsoft, President Donald Trump. Trump has been pushing America into a new economic era, one powered by artificial intelligence. But here's what almost nobody understands. For decades, the ultra wealthy had access to specialized investments inside retirement accounts, while everyday Americans were left out. That's changing fast. And I've identified one unique fund sitting right at the center of this shift. It's not a stock. It's not an etf. Etf. It's not a mutual fund. But it could be one of the smartest ways to profit from America's AI buildout. And you can access it through a regular brokerage account, often for less than $20. I've put all the details on how to get it into a special briefing and you can watch it right now. Go to howtherichretire.com Again, howtherichretire.com Welcome back.
- [38:27]
Robert Kiyosaki
I thank Ken McElroy, my business partner. And for full disclosure, we don't recommend anything. We're a financial education company. We'll tell you what we do, but we don't suggest that you do it. And I think we're in serious financial trouble because our leaders don't know how to use debt. But if you're going to be a successful investor in real estate, you need to learn how to use debt, because debt is how we get infinite returns. So with that, there's so much to learn. And the biggest investment you can make is investment between this acreage here, between your left ear and your right ear. And that's where infinite returns come from, but also infinite losses. So that's why your financial education is more important today than ever before. So thank you all for being followers of the Rich dad radio show. And we'll see you next time. Thank you.
- [39:23]
Amazon Music Narrator / Lennar Investor Marketplace Narrator / HomeServe Narrator
This podcast is a presentation of Rich Dad Media Network.
- [39:28]
Docebo Narrator
It feels like AI can do everything. Write the code, analyze the data. It can even suggest your next move. But there's one thing AI can't do. Think for your people with AI. The real advantage isn't the tools. Anyone can do that. The real advantage is human readiness. That's why the smartest companies aren't asking, do we have AI? They're asking, can our people keep up? To build a learning program that keeps your people ahead. Learn with Docebo. Docebo never stop learning.
- [39:57]
Ken McElroy
We're lost.
- [39:58]
Amazon Music Narrator / Lennar Investor Marketplace Narrator / HomeServe Narrator
I'm gonna pull over and ask that man for directions.
- [40:01]
Docebo Narrator
Hi there.
- [40:02]
Amazon Music Narrator / Lennar Investor Marketplace Narrator / HomeServe Narrator
We're looking to get to the campground.
- [40:04]
Ken McElroy
Well, you're gonna take a left at the old oak tree end of this here road. No, I'm just kidding. Let me get my phone out. How are you getting a signal out here? T Mobile and US Cellular decided to merge. So the network out here is huge. We're getting the same grand great signal as the city and saving a boatload with all the benefits. Oh, and a five year price guarantee. Okay, here's those directions. Actually, can you point us in the.
- [40:24]
Amazon Music Narrator / Lennar Investor Marketplace Narrator / HomeServe Narrator
Direction of a T Mobile Store?
- [40:26]
Robert Kiyosaki
America's best network just got bigger. Switch to T Mobile today and get built in benefits the other guys leave.
- [40:32]
Ken McElroy
Out plus our five year price guarantee. And now T Mobile is available in US Cellular Store. Best mobile network based on analysis by.
- [40:43]
Robert Kiyosaki
Ukulele of speed test intelligence data at 2H 2025.
- [40:45]
Ken McElroy
Bigger network.
- [40:46]
Rich Dad Radio Announcer
The combination of T Mobile's and US Cellular's network footprints will enhance the T Mobile network's coverage price guarantee on talk.
- [40:51]
Ken McElroy
Text and data exclusions like taxes and fees apply.
- [40:54]
Rich Dad Radio Announcer
See t mobile.com for details.