Welcome back. Thanks for tuning in on this special episode today. I have a
special guest, Kris Krohn. Flew into Utah to see him. We're going to be talking about
how he built his real estate empire and he's literally crushing it in the real
estate game.
So, the first thing that I'll talk about is... Kris, you retired at 26. Like, you know,
what's that all about? You know, if you talk about that. -Yeah, I
mean... I don't know if... I used to use the word retire but then I found that I
couldn't not work and I found the work that I loved doing. So, I amended it. Now,
it's just... That's when I achieve my financial independence. -Got it. -I don't even
think of that was when I achieve financial freedom to live the lifestyle
that I am now. But I had achieved level of security, I had to achieve the level
of independence and I did it in 4 and a half years. I did it when I was in
school. A lot of people when they're in college, they're looking for getting
vocational training. And I quickly figured out that I was told at least I
was too dumb to become a doctor. I failed out of my chemistry classes. And
so I said, "You know what? What if during college, I didn't just get my
degree but what if I also like figured out my entire career and did it and then
even retired by the time I was done?" So, became my goal. And so, I actually... In 4
and a half years during my college years, I ended up buying 25 properties and baby
single-family homes. These single-family homes were producing a side residual
income of about $12,000 a month that exceeded my goal for being
able to quit my job. And so, yeah. First I said retire. But really, I just became
financially independent. So I could really live life on my terms and
build the company I wanted to build and create value in the world the way I
wanted to and spend the time with my family that I wanted to. -That's awesome.
You know, let's be honest people like you and I will never retire. -I know. -That's
great. So, how long did it take you to get to that, you know, starting your company
and starting to get rocking? How long did it take to crack 6
figures? -You know? So, it all started with the game. I was in this commission only
job. Which really as a college kid. Starving college kid, it sucked. I've made
like 18 grand my first year. It was the most I had ever made before in my
life because I was young. -Yeah. -But it was also less than half of the national
average. And I knew that. So, I set this goal. I said, "You know, I'm going to double my
income." And it seemed really believable for me because I thought like I should
at least be at or just below average of an adult working person.
I've got a sales commission job that I suck at. But if I get better at it, like
that'll be good. And dude, that you're right. Doubled my income. And I practice 365 days
of that and so I decided to do it again. And that next year, I broke a
100,000. And that was my third year and then after that I broke a
quarter million and then it was a half a million. And and then I couldn't figure
out a double it to actually get to a million. I had to do a couple more
breakthroughs and get some mentors to help figures that kind of game out. But
yeah, it actually happened pretty quickly. But it really wasn't until 4 and a
half years when the 6 figures was rolling in residually. Where I actually
didn't have to work to get back that 6 figure code. That was for me the bigger
accomplishment because now I got the money without putting in the time. -Yeah.
How many hours were you working uh you know, during all that. -It was kind of
crazy because full-time student. And I picked a relatively easy major once I
knew that I couldn't have the one that I wanted. So, I usually had 15 to 18 credits.
So, it's full load. And then I would work about 35 to 40 hours at my company. It
was a little less than probably technical full time because it was
performance-based and I learned, I pushed myself to figure how to perform. And so,
between full-time school, being married and full-time work, I'll be honest. I
don't feel like I really had a lot of spare time in the beginning. In fact, when
I became financially free, it was like that one year, I graduated college, I left
my job and I could breathe. It was just... It was worth it. -So, to be clear,
you were going to school working and starting that you know, your business on
the side? -All of it. -Didn't even have any minute of spare time? -Yeah. And it was crazy. -You're watching
football on Sundays? -Never. -I know. I had no life. It was a small price to pay for the
freedom where it's like, "I now travel over the world, I do whatever I want."
-Yeah. -But yeah, there was definitely a sacrifice period. We've got delaying
gratification, no luxury. It was just... Dude, was just figuring out how to win in real
estate, how to build wealth I made that residual income. Those
freedom dollars. I made that the grand prize, it worked. -What were some of the
biggest challenges that you faced in getting started and then in general, just
with you know, with owning and running a business? -You know, I think one
of the things that went against me was my youth. I mean, real estate yeah seems
like a game for older, more established people. And dude, I had this babyface. I
look like a freakin 14 year old. -I know that feeling.
-Right? And so like I'm out there doing business and people just... People would
laugh at me like literally I couldn't grow hair on my face. -Yeah. I wasn't a
36 until I could grow chest hair evenly on both sides of my chest. I mean I don't
know. I just... I mean, I started puberty but apparently didn't finish it for a couple
of decades. So, I just think that that youth was kind of a hindrance. At
least maybe in my psyche. -It's limiting belief too. -It was it was a limiting
belief for sure. And then I think the other thing that kind of held me back
was I didn't really have mentors that gave me a road map. I had some mentors
but I had to figure out how to partner with people and put money and deals
together become a deal maker. I had to... I figured a lot of things
out that I did get out of books or programs or anything. And that slowed me
down. But once I figured it out, dude, then the sky was limit. I could get. It was game
over. -Yeah. Absolutely. Any of those challenges turn into you know, great
opportunity successes, you know, looking back now? So, you get so hung up sometimes.
you get challenged, you want to freak out and then you look
back and you're like, "Thank God that happened." -I'll tell you one of them. When
I bought my first house, my father-in-law was, I think a little critical.
Just like, "Dude, this kid just figured out he's not going to be a doctor." He doesn't
know... What he's going to do with his life? He's buying a house. -Loser. -A little bit. A
little bit. I know/ I bought my second house and I swear that amplified up a
few levels like, "This kids crazy. Who needs 2 houses?" He didn't understand
really what I was doing. -Yeah, yeah. -Then I got my third house and I think he just
wrote me off. When I wasn't trying to get my fourth house done, I got stuck and my
father-in-law called me up and he said, "Hey, I had a dream that you know we're
doing real estate." And I thought, "That's weird. Especially with the way that I
think you feel about me." -Yeah. -But he actually asked what us doing. Kind of
crushed the numbers. Saw that I was getting trash out of
401ks, IRAs. Decided to say, "Hey, I'll put up the money. Will go in 50/50. Did
that deal made a pile of money? And dude, we started buying homes. I stumbled into
this concept of partnering. That was I perceive that as a weakness because I
didn't make that happen. It seemed like it kind of
happened to me. Almost like it fell in my lap. But something then then I turned it
into an advantage, Joe. I was sitting in college as a senior at about 10 homes. My
father-in-law had bought a bunch of homes and and I got to the point where
I'm like, "Man, if I had more father-in-law's." So, I'm like, "Dude, how do
I get more father-in-law's?" And I started getting a little creative. And I realized
that there were other men and women in the community that knew that I was out
there investing that had been kind of following me, catching up on me and I
thought, "You know what? I'm just going to invite them to lunch. And I invited 4
executives to lunch I showed him my portfolio of ten homes and all of them
said the same thing. It's kids kick in the trash on the form 401K. They all started
giving me money I started buying deals. And then the sky was the limit. There's,
there was nowhere I couldn't go. Start buying real estate like crazy.
-That's awesome. You got me nervous when he said he wanted more or father in laws.
-Pontificating in my college class. -One is been enough for me. -Right. -That's
great. It's amazing how something like that happens challenge roadblock and
then all of a sudden light bulb goes on. -It's weird. It it's almost like
sometimes our challenges are the key in disguise to the to unlocking the next
door success. -100%. All of our challenges in business
in life have made you know, have made us that much stronger. -Truth. -And have
just been... Looking back now, amazing. You know, changed everything. So Kris, what
are you doing with your life now? -Now, it's a great question. I mean that was 13
years ago when I kind of hit that financial freedom point. And you know,
really Joe, since then, I have really found that my deepest purpose and
excitement and energy for life really comes from just helping other people get
on a very similar path. We have a massive problem in our country with people being
financially uneducated. They don't know how to make money, they all want more of
it but seriously, our concept of training is not... It's very substandard. Stop the
optimal, to not where it needs to be. So, through my YouTube channel and also
through my live events and then through my books. And then I got some programs.
I'm basically teaching and educating people, "Hey, it took me years to figure my
system out. Now, why don't you just duplicate it and do it way faster than
me." And dude my big joy right now is um when I go to my events, I've
got my clients that are now transacting all this real estate, moving towards
financial freedom. Experiencing it and that's joyful for me. So, I know... You
know, it's all about impact on my life and our charitable foundations doing
some amazing stuff right now in the world. And dude, we're just... Dude, we're
just loving giving back as much as we can. -That's great. How can people find out
more you know about you Kris and what you got going on? -You know, I've written
several books. My most recent one is called unstoppable. It is my guide for
the ultimate real estate gameplan. How someone can go from nothing to Millions.
And I'm giving that book away for free. Will actually pop the mail for you. So, if
if anyone wants you know if we copy the book, I think we'll be able to find it in
the description on this video or what not. -Yeah, we'll drop that in the description
before. Please make sure to check that out. And just you know as we wrap up here,
definitely check out Kris to limitless TV, Kris Krohn. And checking everything
he's got going on. He's got some great videos that really help you if you're
looking to get started in the real estate game. As you wrap this video up
Kris, what's one thing that you would leave anyone with that's either in the
real estate game or looking to get in the real estate game. One piece of advice.
-My advice would be to understand that your age, how much money you have, how
good or bad your credit is, all have zero bearing on your ability to
live life the way that you want. I Started with nothing no money, no credit.
And have people in very similar situations or people coming back from
big failures. And they're stepping into my space and they're crushing it. And you
know, I just want you to know that doesn't matter what financial situation
you're in, there's hope. And it doesn't have to be small incremental growth. You
can have from one year to the next massive overnight change. You just got to
get yourself in the right game. -That's awesome piece of advice. It's all about
mindset I couldn't agree more and I
you take that advice to run with it and crush it business.