My name is Kris Krohn and this weirdo has come to the top of the mountain to
learn from me on how you can make a million dollars in five years. Okay, so
Steven we got this question, how can I realistically make $1,000,000 in five
years? No, no it's not possible. You're JK . Sorry no you can't. You can? That's
possible. Alright, I know I did it. Okay. Well...It's possible. Le
posible. So...Is that French? That's good. Yeah. Can you really make a million dollars in five years?
Yeah, sure. Can you also not make a million dollars in five years? Sure.
What you'd really need is a game plan and if you have a game plan, it's
possible because with a game plan, you can do anything that you want. So let's
get you guys a game plan. Yes, let's talk about this. I mean because this is a serious
a question from a lot of people, is how do I accelerate really what you're
saying right? Forget about the number. But you're really saying is, how can I make
the most money in the shortest amount of time? And I got to acknowledge tha I get
the society's calling you cray cray right now. It's like what do you
thinking that you can make a million dollars in five years. Don't you
know you go to college, you get a job you work there for 40 years and you get your
$44,000 your average income and then you're only going to save 10% of that. So if
you're getting $4,000 every year compound that times five
years, $25,000! Whew! Yeah you don't get anywhere with
society's game plan. Listen, we're not telling you to fight society, we're just telling you
to go outside of society's traditional thinking game plan. If you want to make a
million dollars in five years, your plan needs to include doing something
different than what society is recommending for you. Which is why we
love to talk about different isn't always better, better is always different.
A.k.a real estate. So real estate is honestly where we love to play. It's
where we have fun and I want to just share with you some ideas of what you
can do. I remember I had this one of my first mentors that taught me how to
count to a million. He said, okay Kris, one home, if you're
making a hundred thousand per home, let's just say. I by the way, most my homes I
haven't made a hundred grand. But I have... this year I sold two homes were made
over a hundred grand on each one. Yeah. So, he said if you just focused on making
a hundred thousand per home, how many would you need to make a million? Let's
count 1,2,3,4,5,6,7,8,9, a million. What? Ready? Yes.
8,9, a million. You might not make a 100,000 on every home but I
know you can count to 10. If you're making 50,000 on every home, then
you only needed twenty homes. Like that's a number you can count to. You don't
have to sell a million widgets, make a dollar on each one. It'll take you
freaking forever. You might never get it done. Real estate is the largest
commodity. So, if you really wanted to make a million dollars in five years, you
should study the art form of doing real estate successfully. You should look at
how to do it with the least risk. And if you can play that game right in the
five-year period of time, can you do it? Yeah, you totally can. Yeah, I also want to
talk about how it depends. I mean it really depends on where you're starting,
what your skill level is, what your confidence level is. You know, what kind
of assets you have. If you're starting with zero and you have no skills and you
have no ability right now, oh then it's going to take some some learning, it's going to
take some training and give yourself that time. We're such an impatient
people. I know. Right? we want it all tomorrow, everything yesterday. You know
and right now and but the reality is is we've got to be willing to grow, we've
got to be willing to learn, getting mentors and people that have
been there and done that can help you along the way, is absolutely a really
great way that you could exaggerate that process. Seems absolutely right. So I
look at just my very first home. Just to give you an example here. So I bought a
house that was worth 150 grand and I bought it for a 110. So I had
$40,000 on my very first house plus a basement that I could rent to help pay
the mortgage. When I bought that house, just for a moment,think about forty
thousand in relation to a million dollars. Yeah. That's a huge step of the
way. And yet, I bought that as a home that I was also living in. So, I got a 3%
FHA - first-time homebuyers exception. Which meant I brought $3,500
to the table. Yeah. And immediately traded it for ten times
that value in equity. And I actually own that home Steven for about four years.
And during that period of time, I lived in it for two years. In the two years, I
didn't, I lease option it. Someone gave me five grand up front. I was earning
over five hundred dollars a month. Well, over five hundred month positive cash
flow on it, by the time I sold it, I made about 65 grand.
Yeah. Now sixty-five thousand is not a million dollars but if you did that same
thing eighteen more times, then you'd have a million dollars. And
that's what I found to be true is that, you got to pick your deals carefully.
I think of Buffett. Buffett one of the best piece of advice he gave said
this financial summit and he's talking to all of these pro investors and he
says, "if I could give you this advice it would be this - you can't afford to screw
up, you can't afford to lose. So if you could only punch twenty investments into
your dance card in the course of your life, pick wisely the best." You can't
afford to be too conservative because you'll never get to a million. You can't
afford to bank it all and go completely wild because you might lose everything.
But real estate done correctly. Here's what you got to focus on. One is you got
to focus on a system. Because we have already determined that you need to do
with maybe 20 homes or 15 homes to make a million dollars. You need to
systematize that. Yeah, because if you're going to... Instead of rolling the dice
and hoping to get a Yahtzee 18 times in a row, no that's impossible.
What is possible is saying, "alright, I don't want to do a flip today in a short
sale tomorrow, and then had a home and then a flip and then a rental and then
an apartment." You're going to be the master of nothing. That's way too much
risk. The idea of a system means that you're doing it the same way every time.
Because that first house Steven when I made that 65 grand, what I did is I
walked away and I said, "wow I can do that again. I can do that four times." Yeah and
then I did. I did it again and then I did it again. I did it again at four and a
half years later, out of $1.6 million dollar net worth and I've done it
25 times. So this is something you can learn to do. But Steven is right. You need
a system. We believe it's real estate and then you need to have the right mentors.
Because if you're going at it alone, lone wolf in it, you're going... Because it's the way
we're trained to be. Here's like I'll read a book and then I'll make a million
dollars. Don't do that. It's going to give you ideas and concepts. You need a system
and a team they can actually help you create the duplicatable, predictable
results. And Steven, if someone's looking for a mentor,
should they pick someone who's done at one time, ten times or a thousand?
Thousand, yeah. This is like going to a doctor who's brand-new out of college
and saying, "hey, come operate me now." Dude, I'm always nervous when I go to the
doctor that looks like he's like Doogie Howser. I'm like fifteen years old and
I'll ask him like, "so how long have you been a doctor?" And then one sweater like,
"I do three years." I'm like you want a doctor who's done that
that specific surgery hundreds of times. They want to be skilled. They do
want to know how to do it. Same thing with real estate right? You know you want
to go with someone who's been there, who's done that,
who has the t-shirt. So let's put it all together. A t-shirt? Yeah. Awesome I got it.
I like it. So here's the deal. This is what we've shared with you. You
want to make a million dollars in five years? These are the elements you need to
find. It's like a little bit of a scavenger hunt. Let's use our system
where we pull it all together. Number one - real estate. Why?
It's the biggest commodity where it's possible to make 50 to 100 grand on a
home done correctly. Number two - you're looking for a system system. Means it's
duplicatable, predictable and you can do it over and over again. You only need to
do it once successfully according to a system and then you do it as many times
as possible. And number three - you got to do your 20
homes in what period of time? five years. And the number four and final, is that
instead of going it alone, you should look for a partner, a mentor, someone that
has been there and done it many, many times and has the teacher. If you can
find someone, which if someone like that exist.
Let's say what I'm saying, you have to work with us. You can know frankly, we're just
telling you that those are the elements that you need to look for. Those are the
ones that we look for when we started this game. And now in the last ten years
having done you know hundreds of millions of dollars worth of real estate.
What we've learned from that is that frankly, those four things that we've
just given you, that's what's going to give you a shot. But I want to give you
the last little bit of bonus here. Good, what bonuses? Steven, there's a lot of
people are like, "we'll tell them what it is, we'll tell him how to get there, but
the reality is, there's one thing that will make the difference on whether it
happens. Dude, you're either a Youtube subscriber that watches or your YouTube
action taker. And in life execution is everything.
Those have execute and yet you have a chance of getting what they want and
those that sit back and just watch more videos, usually don't. So our advice is,
whatever you do look for those four elements and then if
you're going to go for it, take action. Go for it. Absolutely. And that my friends, is
how the cookie crumbles. The cats in the kitchen,
Mia! Coookie crisp! So make sure you subscribe. Ring the bell and if you want
to check out and can get a little cookie with us in the game of real estate, check
the description and the link below.