How do you be successful in real estate? What's up my friends? Kris Krohn here.
Done thousands of deals and if you want to be successful in real estate, I
thought today I'd shoot a video doing something a little bit different. I'm
actually going to bring a brother-in-law on to the set and actually have him
share what his experience was. Because he and I got started years ago and in a short
period of time, he's actually done a ton of real estate. He's definitely creating
his own financial future and he's already mega successful. But dude, the
kids started in vending machines. So schools in session.
So check it out here. I got my my brother Kris, here man. How you doing? I'm well.
How are you doing Kris? Awesome dude. So guys in full disclosure. I want you to
get this. So Chris actually, he works with me inside my company is actually part of
my power team and I'm always showing you people from the other side of the world.
The other side of the country doing deals. Today I thought you know what, dude
let's do something fun and different. Let's actually get you on the inside and
realize that a lot of our team members on the power team, dude they're out there
doing real estate, building portfolios and yet, we all started from kind of
normal school of life. So dude, yeah - glad to have you here man. Thanks. Hey glad to see
you. I'm glad to be here. Yeah, yeah. So dude, do you mind just briefly just giving us
a little bit about your story and talk to them. I want them to hear from you.
Yeah no worries. So Kris, I've known you for better part of a decade now. We came
together, yes. We did marry sisters. I like his wife. She's great. I think mine's
better but that's okay we can all agree or disagree there. I'm one of those guys
if you can relate to you're one of those hard-working people, you're working a
nine-to-five, you're getting things done and I was one of those guys who I've
always been a little bit more financially conservative. I like having a
budget. I like having savings. I have an emergency fund and I was
telling him that you were working with vending machines when you got started.
This is true. Did you put on some crazy muscle actually like driving around town
in a truck and basically filling up vending machines, right? Yeah, I was
throwing probably about 80 cases of 20 on sodas a day going through about 6
boxes of chips and more Snickers bars and you ever want to eat my lifetime.
Dude and listen, I don't have you rude or anything but that's not exactly what you
would call like a high paying job or not necessarily something that requires
college to be or anything right? It was it was good for its time and its phase.
And I'm grateful I had it. What that job gave me the ability to do is practice
adulting. It gave me a full-time job. I was working probably 60 hours a week. I
was making okay money, getting about 10-15 hours of overtime. Okay, pause. Can you
relate, right? Like you know what it's like to feel like I'm busting at people.
I'm putting in my 40 or 50. In his case 60 hours and because you were a good
saver, I mean you were putting some money away and you were getting ahead, you are
super intentional with, "Hey if I'm going to work and I'm going to get this money coming
in. I'm going to be smart with it ,right? Correct, yes. It was a job. I went there. I
did a dang good job. I made my boss some good money. Came home, did my
thing. In the stage of life me and my wife had just got married. She was working
part-time. We were looking at long-term, what our future looked like and what we
wanted to build together as a couple and really real estate helped us was the
piece of the puzzle we needed to really free her up and allow us to achieve our
vision. So dude, let's get real with each other because I'm just telling you right
now. That see my brother-in-law? I think he thought I was a douchebag.
We hadn't really connected yet. I remember the first time we actually sat
down and actually kind of got to know each other a little bit. And he was like
awkward, uncomfortable. But I feel like it's when you and I actually like got to
really know each other for the first time and it also ended up opening some
doors that I didn't intend because I remember when he sat down in my office
with Kiera and you're like, "Alright, let's talk real estate. In my
mind, I'm like dude what if this doesn't work out, like you know what they say
about doing business with family and even though I've had success with my
father and my doing crazy stuff. I also didn't want to ruin a relationship and
that might be a concern some of you have had. But dude, you've gone on to freaking
crushes. So what happened next? it all started kind of there you had a
piece of the puzzle I needed. I was naturally a conservative mindset. I had
good money in savings. My wife was working full time and we had this vision
together that somehow over the next couple of years, we wanted to transition.
We want to start bringing kids into the world. Raise a family and our goal was
really to have my wife have the luxury of staying home and being a mom with our
kids all day every day. And I knew that going from a a dual income household to
a single income household was going to be a problem. with what we were currently
making. Okay so this is actually important because a lot of people are
watching this like, "Well dude I'm in a committed relationship or I'm married."
You know and there's a lot of people watching this that are like, "Hey, I either
I want to retire my spouse for different reasons maybes have a family or you
might be thinking, dude, I want to retire myself like I don't really like what I
do. Sounds like you had a master plan right? Like your first goal was bringing
you know your wife home from work so that you guys could kind of live your
lifestyle the way that you wanted correct? And every family has their own
journey different priorities. My job isn't to tell you what works for
everyone but for me and my wife, our highest goal for that early stage in our
20's was find a way to bring my wife home. And for me real estate was that missing
piece of the puzzle that would create that income stream that would allow me
to bring her home and start a young family and be able to do to create the
vision of our life for what we wanted it to be. So there's got to be a why behind
what and the why's got to motivate you to
action because motivation means motive to act. And so in your situation, we sat
down, we built out a game plan. You guys were starting with just a little bit of
savings but you were able to parlay that into your first deal. Can you tell us just a
little bit about the first deal. I can. yeah, now I'm kind of more of a visual guy.
Do you mind if I draw it up real quick? Whiteboards right here man. Throw it up.
Perfect. So I'm known for my artistic ability. I
can draw stick figures like nobody's does this.
Okay, awesome stick figure madness here we come. So we started out with myself,
wow.With my beautiful wife. Yes this is as good as I get.
We both had jobs so we were both bringing home some money. I just need to
know who you are you always drawing people's heads over their necks. Well, you
know the spinal column actually comes back to the behind the neck a little bit
rise them cirrhosis or atomical correcness going in the bin is mine right
now. I'm just that good of an artist alright. So we knew we had some money. We
were setting aside some in savings and this is kind of where our journey kind
of ended. We had some cash, it wasn't a ton but I knew I needed a vehicle.
Something that helped turn this into an income stream. And pause, if you guys want
to be crazy, successful in real estate, we're about to show you how he got
several homes. But I want you to understand that rule number 1 when I
get with anyone is always PYF. Pay yourself first. You're not going to work
for the bills, you're not going even to work for food
as important as that is and you're certainly not going to pay your cell
phone bill. You're going first and foremost to make sure you get an ROI on
you which means there got to be something left over at the end which
means do it the other way around. Pay yourself first then pay your bills. You
were doing that very successfully, put a tiny little nest egg together and then
what happened? Yeah, so when I was sitting down with Kris, I was learning about
real estate, I'm like real estate is a tool that I can use to make my money
start working for me. And that's really the first thing that Kris gave me is
you outline a plan for me of how to turn this nest egg into our first property.
Nice - now so we sat down with Kris and the team and I knew that I wasn't quite
ready yet. So we looked at this we bought a house. We bought this house in Arizona
back in 08 and Kris sat down and his team did a great job laying out the
math of how it works. And frankly, 2 and a half years later, we'd blown past the
numbers they put on the screen and I already had a fantastic ROI. To make a
long story short, this one house we sold for 80k profits
and turn itself into two little babies. Which produced enough in cash flow to
replace my wife's income and she came home. Okay, pause. Just check this out. This
is so cool. You you delay gratification, you pay
yourself, put it in home. Now in Chris' situation, he wanted to get with an
expert team doing thousands of these. And so when he says that we exceeded
expectations, that's what we try to do across the board by already putting you
in the best places. Some of you got to start if you guys start with nothing. You
might start with your backyard. Click the link below, learn more about that. But
some of you like Chris, it was hey if you want it done right, don't do it yourself
you want to have a team of experts step in that that philosophy changed my world.
So if you want something done right, don't do it yourself. One home became to
you brought your wife home from work which all of a sudden the lifestyle is
there, what happened next? Well, honestly, this is we're looking backwards, we did
something's right, something's wrong. We started taking this income into our
personal life to augment and I went that's not going work. I need to find
something else because I knew that the minute you start taking that and you
don't want to go down. Things slow down. This is when I started looking at a
career change. If I need to find something more profitable than vending
machines, mark - that I can exchange my time for something more valuable. And
that's frankly when I approach Kris and Kris you've got a great job. You've got
a growing team. I think I'm starting to understand real estate because I've done
a couple of deals. I now want to help people do what I've done. Is there room
on the team? That was by the way he did. He made his move. He showed up in a
freaking huge way. We've been work any other for how many years now? About 8
years now. So the last 8 years what then happens? Well honestly, I was able to
speed things up because I increase the amount of money I could exchange for my
time. I didn't have to divert this anymore. Okay which meant that this could
go back into savings and I meant that these, you made my babies - made some more
babies. You've rock it. And that really is a secret as an investor. I made a mistake. I
started taking money out and now I did it and I don't regret bringing my wife
home. But every time you do that it slows things down in a big way. Instead of speed
things up, when you were able to put it back in your investing lane, how many homes,
do you have now? Goodness I have right now 4 homes but I've bought a total
of 8 homes using your guys services. Including pure investment homes I've
bought primary residences that I've converted into properties. Everything
when you're doing real estate the key is an investor is to make your money work
harder than your time does. Oh guys did you see what
said right there. The key as an investor first of all pay yourself first to
invest the difference and then number 3 you got to make your money work
harder than you do. Right now, Chris is got 8 holmes. He's got 4 of them that
are slaving away every single day for him and what he thinks next to the game
plan? Goodness it depends on what the market does. The market will tell me when
it's time for each of these 4 to spin-off and produce 2 more babies. So
you're going to turn 4 to 8? For sure. But here's the powerful thing.
At least for me. Let's assume that tomorrow I wake up and I decide to do
nothing that my real estate journey is over.
I'm already retired because fast forward these mortgages are paid off. I have been
owned for properties free and clear and the cash flow coming in replaces both
those and I'm done. Now I don't want to be done because my
dreams and my visions are bigger than that. But even if I did nothing today in
20 years, I'm retired. Dude, I want you guys to get what my man Chris actually
just told you right. Now first of all, he's got a plan. It started lifestyle
driven and he's got a future lifestyle that he's building. But today's video is
about teaching you some of these core principles. One I got people on my team
that are actually out there crushing it just like all of our investors are out
there actually doing deals right now. They're living and breathing the stuff.
Two, leverage someone else's resources. Leverage someone else's time. Leverage
someone else's efforts. Let them go to work for you because if you want
something done right, consider not doing it yourself and then number 3, the
biggest thing is Chris has a plan that if you stop working today, he now has an
assets that are going to continue working and building and growing for him. So dude,
Chris if you could give any final advice to anyone that wants to know how to be
successful in real estate, what would you share?
First off, realize there's a difference between doing real estate activities to
earn money which is valid and it's a great way to raise capital and moving
and transitioning into being an investor and making your money work for you. Now
the truth is that once you've got 4 homes or 8 homes or 16 homes or
whatever, you can't afford to be swinging the hammer yourself because your time is
more valuable than that. The best money I've ever made if you were looking at
strictly dollars per hour was sitting down making investor decisions of is
this the right time to buy, is this the right time to sell, is this the right
property? Get to the point where as an investor, hire out the busy work so you
can stay focused on doing what's most important which is making sure that your
plans on track. Second piece of advice, don't eat your future. Yeah, yeah. If you
make a lot money that make sure continues building
and growing don't just live off of it. I've done that one. I learned that lesson
too dude. Chris thank you so much for being here today. No worries, thank you. Let's give them all of us
over here man. Listen, shout out some comments from my
for my buddy and brother-in-law, Chris who by the way if you join my power team.
If you click the link below, we're actually going to send you a copy of my
book in the mail for free. Come out to one of my live events. Learn how you can
engage the team and how we can help you become crazy, successful or realistic
because Chris is done in the last decade. What you could do, what anyone can do, the
reality is whether you have the dream and the ambition because Chris did and that
made the difference. Also don't forget to subscribe,
ring the bell. Got another video coming your way and if you want that free book
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but either way, I need a custom game plan on how I'm going to make my next million
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