So friends, today's video is something I care very much about. Its how to invest
in real estate and a very young age. And this is even a video that I'm going to
invite you to share with your parents because I'm going to be chatting with both
of you about what you can do. It's never too early to start learning right here.
What you need to do in real estate and then what the specific steps are. The
same steps that I use that help me crush it in real estate right out of the gate.
So friends, hang tight and stay tuned.
Alright friends listen, today we're talking about investing in real estate
at a young age. This is for you if you are young or your parents because this
video is actually for both of you. Because we have a little bit of a talk
to have and I got to tell you that we got to bring some serious energy for this
video because we're going to be talking to you about the mindset and the skill set
in a very short period of time, of how you can get cranking in real estate even
at a young age. So Steven to prepare for this - contest. Steven beat me when we did
a contest for push ups it's because I had done like the best chest day of my
life. I love excuses. And that was my that's my real story, I'm sticking to
it. But I know there's something I can beat Steven at. You probably can. Okay,
ready, one, two... Wow it's amazing! You just totally like... yeah vaped on that. All the
best... Okay here we go.
Okay so here's what's going down young fans, we know that we got many of you
here that are watching this video because you're
liking a different mindset about money. You're looking at your future, you're
looking at life, you're wondering do I want a career on YouTube? You're thinking
to yourself, what do I want to do? There's a lot of pressure to go to college maybe.
I got to get good grades and I just want you to know, what Steven and I believe in
as education. And for some of you, college is a perfect place to get that education.
Even if you go to college, the reality is, there are life skills and things that
you need training on that school will never teach you. So whether you do or do
not go to college, there's more training that you need and that might be why you
are a subscriber. You are a subscriber right? That are the reason why... You click
that button right now. So there's a reason why you're here on
YouTube and watching this video. I know because I interact with you guys. Will
actually text with each other and email each other. Like Kris, "I'm young what
can I do?" This video is for you, but we also are creating in a way where we want
to even invite your parents to be on. Because in real estate, this is the
perfect time for you to be preparing and actually also doing real estate because
you can set an entire different financial future for yourself. You take a
kid that can save just $300 a month, every month for the rest of his life.
You're going to be a multi-millionaire. And if you compound that with real estate,
you're going to be a multi, multi, multi millionaire. Most people don't get
serious about, "oh that... that's what you get.
So this is a family affair and again if your parents
aren't there with you. Get them too right now to come and watch this
video. Parents hopefully you're here as well and I want to talk about the
mindset of investing. Because this is something that most Americans don't grow
up with. And this is, no offense to you no offense to your parents, or your parents
parents. So I get your grandparents here as well.
None of us are taught in our society how to truly grow our wealth. And the problem,
or the reason for it is none of us really know how. We we weren't taught by
our parents. They weren't taught by their parents. So we're all kind of just
plugging into a system that's broken and not working. So if you want to learn how
to do something. If you want to learn how to invest wisely as a youth, as a young
kid or coming into you know coming of age of sorts, then you have to do things
differently. Yeah. Now, I retired at the age of 26. I did go to college the same
year that I got my degree is also the same year that I retired. And that
happened because of real estate investing and it has changed my stars. It
hasn't been easy, it was a lot of work, it was hard work, it was training, it was
having mentors. It's doing what we're doing here with you right now. And you
got to learn and then you got to take action and then there's even going to be
some risk, but the reason why this training video is so important for you
is because, the reality is that if you follow society's advice. And mom and
dad if you're there, you might be able to like listen about this just a little bit
here. You go to college, you get a good degree.
You work for someone, you do you work for them for 40 years but where does it
honestly put you at retirement? If you're like the masses, 98% of you have nowhere
near the amount of money that you actually want for retirement. There's a
lot of pressure and stress. There's often not enough money. There's financial
anxiety. And so if you've lived 30, 40, 50 years of a working career, then you can
look back likely and say, "yep Steven and Kris you guys might be young but you're
right." That lifestyle will help you by the way maintain life and be able to
have some opportunities but when it comes time to retirement and and having
some extra money to throw around or visit the grandkids or do some extra
things, the money's just generally not there for it. In fact it's the opposite.
There's a huge lack of money because we spend 30 or 40 years saving up the nest
day and we can whittle it down in years, right? 30 or 40 years and then what we do
is we don't get enough set aside. This is what causes people
that'll lead to real estate. The reason why parents we want you here with
your amazing young kids, is because we want to talk to you about what it
looks like for you to work together as a team. I want to jump in real quick. I've
got a 14 year old son and my 14 year old is very entrepreneurial in nature. He's
always looking for businesses that he can begin and then start and do things
with. And it's been fun for the last couple years as he's really kind of
started to come into this space, to be able to help and coach and train him and
give him ideas and start to blow out some of his ideas and really you know,
see the inner workings and help him understand what it looks like to be a
business owner. One of the things that I've been talking to my son about and a
lot lately, is having his first investment property purchased by the
time he's 18 or 19 years old. Now, still a teenager technically, right? An adult but
still a teenager and having his very first investment property. And this is
becoming normal part of our conversation. So one of the things that you can
do as someone in your early 20's or teens still, as you're preparing to invest in
real estate, is start having some of these conversations with your parents.
Let them know. I want to invest in real estate, I want to do these things.
What can I do to get there? And so right now already we're having this
conversation of, "hey make sure you're putting x amount of dollars away or x
percentage away of what you're earning. Every time you earn, continue to grow
your business ideas and the more you do, the more you're going to be able to put
away until eventually you've got enough. And you can start investing. Now my
hands-down my favorite thing that I've ever seen happen in real estate is when
parents and their kids come together and they form a family business. You know
there's a lot of people that say, "maybe shouldn't go into business with family."
My experience, I mean my father-in-law and I bought 50 homes. He's made a lot of
money and we're doing more business together than we ever have before. But
I've been able over the years to watch many families come together because a
lot of parents want it. They want to pass something good on to their kids. Parents
you've either done well for yourselves or you're behind and if you're going to be
learning new skills, then you might as well take your kids along with you so
that they can get away earlier head start than the childhood that they've
had him to this point. That's actually financially got some missing gaps. And so
here's what partnering really looks like. A family real estate business is the
fact that to buy real estate, you need some money and you're going to need some
credit and someone's going to need to do the work. Write those three down.
Someone's going to need some credit, Someone's going to need some money and
someone's going to need to do the work. Let's first talk to you young people. 17
years old , 16 years old, 18 years old. What should you be doing right now? Three
things - number one, you need to establish credit. Which means you need to get three
credit cards. Not two, not one, three. Why? Because you need to have a two year
track record of using credit cards responsibly, before banks will say you're
now credit worthy to buy real estate. and so, I don't care how small the credit
card is. I don't care if you have to pay a high annual fee to get access to it.
and it has a very low limit. I want you to use it and pay it off. use it and
pay it off. use it and pay it off. because I want you to have that to your
track record that says, "I understand credit and I can be responsible with
credit. "Because banks are going to look for that. Number two, you're going to need to
have a two-year job history. Either your parents that are co-signing with you or
you. So two year your job history is whatever job you're going to be in. Stay in the same
industry so like for example, I was a full-time student and I had a job
while I was going to college. It was part-time most of the time and in the
summers I go full time and then enough the spring and fall I go part-time. Once I
hit my two-year mark, I bumped up to summer full-time and guess what the bank
said, "you have to your work history will absolutely help get you line up a loan
for you." And then the third thing that you need, is you need a down payment. The
banks are going to say, "dude if we're going to lend you all that money on a house, then
you've got to bring something to the table. And what you're going to do is you're
either going to bring to the table, a 3% down payment. Which is a primary
residence when you buy your own house. So $100,000 home 3% is 3 grand.
It's not a lot of money. It's different than when you're buying an investment
property and you need to put 20% down. 20% down, this is where mom and dad might
actually come in in the family business. And so if you're if you're not going to
live in it, you need 20% down. So on a $200,000 house, 20% is $40,000. On a
$200,000 house, 3 percent down is $6,000. So we look at a home that you're going to
move into is a little bit of a freebie. 3% is a lot less than 20%. If you buy it
as an investment, if you subscribe here, if you learn, if you work with our team,
to help you see to help you do that real estate, buy a home with a great equity
position, a great cash flow and then you're putting a very small amount down.
The first house I bought, I put down less than five thousand dollars and
I sold that house and made over $80,000. Between the cashflow, a long way when I
sold it for. So you want to calculate my ROI, five grand in, 80 grand
back, 1600%. It's ridiculous. It's 1600%.
It's wild. So that small down payment, if you're buying it not just as
a house, but as an investment property can be super wise. But also, this is how
mom and dad can get involved. Yes this is a perfect way for you to get involved
with your parents and have your parents also be able to help you out. Your
parents are in a different position than you are right now. They most likely have
some established credit. They've got some money saved up and it may not be in a
bank account right now, but maybe it's in some home equity. Maybe it's in a 401k or
IRA or some other type of investment. And they can now team up with you. One of the
things that I've also learned is that, the older people get, oftentimes if you
hear the saying, "you can't teach an old dog new tricks." Now I don't believe that,
but a lot of people do. And so your parents may be in a situation where
they've had a couple of failures and they're a little reticent to get after
it. They're very busy. Maybe they're busy with their careers or
different things and so they don't have the time but you do. And so as someone
that's younger, you can go and team up with your parents and say, "hey why don't
you guys put in the money and maybe the credit. I'll get after it and do all the
work." And prove to them that you will, and all of a sudden, you've got an
amazing partnership that can begin with the first property and that first
property can turn to another property and another property and another. You get
how this starts to grow. And the cool thing is, there's a way for everyone to
contribute you know, mom and dad might be putting up some money or some credit. You
might be the young person saying, "I'm going to put in some sweat equity. I'm
going to be the hustler. I'm going to learn how to manage this. I'm going to take Kris and
Steven's lease option course. I'm going to put a family in there. I'm going to master
that. There's a way for you to help each other, so we're recommending family
business and if you don't have a family dynamic where that's going to work out or
you can't work together as a team, then at least do these three things. Number
one, two year credit history with at least three credit cards. I don't care the
limits, but be responsible and keep them paid down or paid off. Number two, have at
least a 3% down payment for a property that you can move into and you can treat like
an investment property. That's going to be three, five,seventy thousand dollars,
that's manageable when you're young and not making a lot of money. And the third
one is, a two year history on the job, right? It'll just help you get that
financing so if you don't have any outside help, parental help, this is
something you can do on your own. I didn't have any, I got myself started and
going, but we've been able to see some incredible families. I think like the
Mathesons. How they help their kids and they jumped
in.They bought deals. Then they came back to the family farm,
we're getting into the real estate and by the way when real estates making you
10,15, 20%, you're making more money than you were in the market, that's
a good feeling. You're moving in a really smart and great direction. So friends, our
young friends that are out there and parents hopefully than watching this
video, listen old dog, learn new tricks, work together as a team,
subscribe. Make it a family affair, meet with Steven and I. Come out to our live
events, where we can help show you what we've done now on nearly a billion
dollars worth of real estate and get you crushing it too. You know, probably one of
the most useful things that you can do, is find a way to come out and start your
real education by attending one of my events. If you go check out the website
there's a number of events that they put on. I've got a four day money event
that's coming up. It's all about what is money? what is the mindset of money? how
do millionaires and billionaires alike? Think about it.
I've got billionaire mentors in my life that are teaching me what is money? what
to do with it? how to grow it and how to multiply it? And it's a great place for
you and your parents to be. So this time when your birthday comes around or
Christmas comes around, you might instead of asking for a toy. You might want to
say, "hey I'm working on my future, will you take me to this event and can we
share this experience together?" I would invite you to have that experience
because I can tell you, all of my events they're absolutely life-changing and I
put them on special discount for my YouTube friends and family. So friends
come and be a part of my family at one of our live events, where we can help you
absolutely crush it. Don't forget, subscribe so I can keep sharing these
videos with you every day.