If you're watching this video, it's probably because you're sick and tired
of working a job and then not having enough money at the end of the month. And
you're thinking to yourself, "You know, if I have my money working for me, if I
owned all this real estate or these rentals. And they had a positive cash
flow, then maybe they could produce enough income that I wouldn't have to
work." And if that's why you're watching this video, you are in the right place my
friend. I'm going to tell you that rentals are something you can easily
mess up on or do wrong. But with the right training and the right mentorship,
you can absolutely hit a home run. It's certainly what enabled me to retire at
the age of 26. My name is Kris Krohn. I'm a best-selling author. Written many books.
I've spoken to thousands of people on stages. And I get to enjoy what I'm going to
call semi-retirement. Because the reality is, I can't sit still and spend all my
time on a beach. So, the rest of the time is me helping you live the best life
that you can.
So, today I want to share with you 8 steps. And I want to give you a shortcut
to really mastering the rental game. These 8 steps are really going to
help you understand how the game has played, how it works and really what you
do sequentially from start to finish to actually get to that residual income
that I know that you're looking for. Friend, I got to tell you, to kick this
off, I want to tell you the story about 2 people. The first one is about a man
who went to college and got a great degree. And then what he first did when
he got out of college and had this good-paying job is he started buying a
nice car, flat-screen TV, got himself a beautiful home. Every year, started taking
a nice trip. And then woke up one day 40 years later and really didn't have
anything else to show for his life. But the second person I want to tell you
about is a man who decided to do things very, very differently. In fact, by the
time he got out of college, he was actually buying real estate. And instead
of buying that nice house on the hill or taking those nice vacations, he delayed
gratification and he bought home and he took that cash flow about another rental
and then he took that cash flow about another home. And 25 homes later, he had a
6-figure residual income. And then he retired. And then for years, he tried to
figure out what he wanted to do with his life. He got... Visited 40 different
countries. He's got 4 kids now and basically gets to show him the world. He
gets to get behind social causes he believes in. And even recently started
making YouTube videos. Now, guess who that person is? That's me my friends. And I
want to tell you right now that the coolest thing about being free is that I
get to do what I want with my life. So, this video that I'm sharing with you on
the 8 steps of what you do to get in the game and to get in intelligently, it's
important because what I'm really doing is giving you a roadmap of exactly what
I did. And if you hang tight for the end of the video, what I'm going to drop on you
is my leveled up system that actually allows me to get a 200% increase on
rentals then even what I'm about to show you. So, get ready, buckle up. Alright my
friend, class is in session. We're going to be talking about rental properties 101.
And the first thing that I need to cover with you is that you have got to have a
game plan. No plan is a plan to fail. And here's part of what I mean by plan. What
are your goals and why are you getting in the game? And do you have a strategy
for what you're doing? Have you even picked a strategy? Now obviously, we're
talking about rentals. But what you're going to learn in the bonus at the end of
this video is that you can do this thing called rentals or you can do what I call
compassionate financing or lease options where you're actually renting a home
with the buyer that will eventually buy it. And I'm going to show you how to make
more than 200% of 2x on what you could make on a rental. And friends, that's what
actually helped me get financially free. So step 1 is you've got to have a plan.
And a plan can be as basic as I'm going to save my money and I'm going to put it into
properties and then I'm going to get a partner. And so, you should start thinking,
what is my game plan? And if you don't even know what a game plan is, at the end
this video, you know, the link below will give you a copy of my free book. I've got
a whole plan teed up for you. Step-by-step, exactly what you do so that
you can make millions of dollars in the game a real estate over time because you
got a good plan. Okay, number 2. You had to choose your market. Because there's a
couple of ways of tackling this real estate. You can either invest in your
backyard or you can invest in the best markets around the country. In reality, I
can actually show you how to maximize no matter what backyard you live in. I can
show you how to maximize your returns or I can also show you how to go into the
best markets. But you need to know that. You can do both of them. That is a part
of the plan and you should just decide. Am I in a place where I can invest
directly in my backyard? Let me share with you where I would not invest in
your backyard. If you live downtown New York, downtown Seattle, downtown
Vancouver. If you're living in a really big city, you have got to go out into the
suburbs where the price of the homes are lower than the national median. Which
means you got to get to a place I believe where you can play it safe. Which
means buying properties that are under $200,000 is really where you want to be
because when the market ups and downs and moves and flows, you can still take
care of yourself. And when the market goes down, it doesn't mean that you get
slammed. Okay. Step 3, you got to build a team. I'm
going to tell you right now, this is not a solo sport. You do not want to play this
one all on your own. In fact, if you want to know how to get burned out and hate
your life, choose to be the one that finds the home, lines up all the lending
and then plays landlord. For most investors that'll drive you nuts. You
want to align yourself with people. And your team has 3 cores. It is number 1, a
realtor. Number 2 a loan officer and number 3 a property manager. Now, you
should find the best realtor that specializes in investments. You need to
find the best loan officer. Meaning they close lots
of deals that specializes in investment lending. And you got to find a property
manager that is not brand new or working on their first hundred homes. They should
have 500 homes or maybe even 1,000 homes. So you want to build an
experienced team. How do you do that? Hello! Get out there, network, pick up the
phone and start calling and interviewing people and put an all-star team together.
Okay, the fourth step. You have got to figure out your financing. Which just
means, "How are you planning on buying real estate?" My book that you can get at
the end of this for free will actually document some different options. For
example, you could actually go and get into real estate no money down. I'll
break that down. There are some deals where you might want to take money from
a 401k or home equity or IRA. You could move that as a 20% down payment of
property. You might have a friend that has some money and you want to team up
and do this together and that's a way to do it. Friends, if you want to get in the
game of real estate, never use the lack of money as a reason why you're not
going to play the game. That's stupid. It's actually unintelligent. Right now by
watching this video, you just got smarter. You leveled it up. Just say it. "If I'm
doing a deal, the money's out there." What is it? That's right. If you're doing a
deal, the money's out there. So, you just need to have a plan on how am I actually
going to be financing my deals. Okay, step 5 to make this work.
You need to turn on your lead machine. You need to actually start getting some
deals. Now, remember when you built your team that realtor, dude, that's one of the
easiest ways to find deals. You might not find the best deals. You might. But you
know, you could also drive for dollars. There's a number of ways that you can
actually get out there and actually find some of these amazing deals. In fact, if
you're not, you need to be a subscriber to my channel. Because guess how many
videos I've made on how to find amazing deals? Lots, right? So, you got some more of
that information. You need to turn on the lead machine so you can start basically
evaluating deals and find the home that's gonna have an awesome ROI that's
going to take care of you. Okay, number 6 once you actually get a deal, you
need to know how to analyze it. I meant analyze. Analyzers are people
that never make decisions but stare at something all day along computing
numbers. Don't be that guy. There's an opportunity for you to get in the game
and do very well for yourself. Analyzing really comes down to, "Do you
have standards? Are you trying to buy this below market with equity? Or more
importantly, have you calculated the total ROI?" Like how
much money are you going to get back. Or what's your cash flow? Will the cash flow
make sense? Will it be safe? Will it be enough? And again, I got other videos on
my channel here that can show you how to do that. Okay, number 7. Once you've
found a good deal, you need to put your offer in which means that you're going tO
be doing some negotiating. And this is pretty simple. I'm going to give you a
little hack right now. When you know that you're ready to go, if the home is
represented by a third party like a realtor, then you or your Realtor should
talk to them and basically verbally give them their offer. And find out if you're
too high or too low or whether you're right on. Why am i recommending that?
Because if you just submit paper to them and you're totally off,
they'll take 2 days to submit paper to you and then if it really is a good deal,
it's going to be gone because you'll go back and forth for a week. My back and
forth usually lasts anywhere from hours maybe 24 or 36 hours because I'm going
verbal before I actually go paper. One other thing I'm negotiating is that you
should know where your bottom line is and then you should honor that. You go
over, it's a no. If you're under, it's a yes. Get to that as quickly as possible.
It is a game of being wicked fast. That's how you win. And before I get to that
bonus segment, number 8, the final one, is that you're going to close on the deal
and then you're going to line it up for your property management team to take
over. Unless you're gonna do it yourself. And that just depends on whether you're
really to, ready to jump in the game and figure it out. Friends, I will tell you,
you want to do this one the right way. You do not want to be licking wounds
from being a novice at this and doing this wrong. I'd rather you take some of
that cash flow and give it to a property manager to make sure it's being done
right out of the gate. Because you cannot risk having a poor mindset. You got to be
focusing on your next deal. Because after you've done these 8 things, it's
rinse and repeat and then it's keep on going. Now, true to my word. I offered you
a bonus at the end of this. I was going to tell you how what you can do to actually
double your ROI. I do that with my lease option system. And if you actually look
in the link below, you're going to see 2 links. The first one is get my free book
so that I can actually share with you what my plan is on how you can become a
millionaire. Because I am the co-creator financial freedom. That is the purpose in
my life right now, is to help thousands of people become financially independent.
The second link that you're going to see down there is to talk to a member of my
team about how you can get into the game of lease option where
when you buy the house, the good news is it doesn't have to take any of your
money. And more importantly, the person in the home is going to become the buyer of
the home, which means you're going to save tons of money. You're going to make a
lot more money while providing a powerful service to them. So, you can
investigate both of those links and they're gonna help you understand more
about get my book for free. I've already bought thousands of them. And I'm just
waiting to ship it out to as many people as possible so that you have a plan to
get where you want to go in life. And the other link will show you exactly what
you need to do to earn double of a typical rental. Friends, thank you so much
for watching today. If you are not a subscriber, you need to
take care of that when? Right now and ring that bell
so that everyday I can notify you about tomorrow's new video. Thank you so much
for watching, take care. You can have it all. Go crush it.