So... Today, I'm going to be sitting down with some brand-new partners. And they
want to know, "Kris, do a game plan. How long is it going to take for us to become
millionaires?" And so, I'm going to sit down. We're going to go through that. And frankly,
we're going to figure it out right now. In fact, they right over here.
We're moving forward. Buying some real estate you. You guys excited? -We're excited.
-Why are you excited? -I like the opportunity to make money without having
to work every day for it. -And what is it you do right now for a living? -I'm a
computer forensic examiner. -Okay. That's like a total mouthful. What does that
boil down to? -I get people in trouble for what they do on their electronic devices.
That's essentially what I do for a living. -Are you in trouble for things you
do on your electronic device? This man is now you're like.. He's your worst enemy.
Okay. But basically, people being naughty or doing some no-no's and then you
basically prove that they did something wrong?
-Correct. We create timelines, recover deleted information whether it's in
criminal court or civil court people in law enforcement agencies hires to
find what has been hidden or lost. -So, that's what he does for a living.
Question is how do we help them get to that millionaire status, right? -Correct.
-Because this is all there's a drive here for some financial freedom.
Ester, how do we know each other? -We live by each other.
-We live by each other. How cool is that? But before
we live by each other, like your husband was watching me on YouTube, right? -Yes,
yeah. And how long have you been watching the channel? -Probably about
2 months before I met you. So, year and a half. -So, was that weird when I
moved in? -Yeah, yeah. -Weird, right? But some things are like
meant to be, right? -Correct. -So, here's what I want to do, guys. I want to basically
create a map here. And here's what I love to do: I love to basically put myself in
people's shoes and say, "How do we become financially free? How long is it going to
take and how do I accelerate it?" Like, I feel
like those are questions that people, they ask and they want to know. And the
reality is a career will always limit our ability to have what we want when we
wanted as fast as we want it. Because vocational training, college careers are
really all about... Some jobs paid better than others. But it's pretty rare
to have a job even a good-paying job that can totally create the financial
freedom that someone wants in a working life. -I agree with that. -So,
why were you... One more question. Like, why are we even checking out the channel
in the first place before we even met each other? -So, my mom does hard money
lending. And so, I've always had kind of an interest in
real state from that standpoint. -Yeah. -This is different from what she does. But it is
real estate so I was intrigued by it and that's when I started watching it. -All
right. Well, right now, we're going to get financially naked. -Okay. -Which is way more
comfortable than naked, naked maybe. On camera, at least maybe. What I want to do
is I just want to map out how do you actually get where you want to go. And I
got to ask you a couple of sensitive questions to figure this out. Okay?
And that question is "What have you set aside in your working life that you
actually want to put into real estate?" When we had to play with? -We have about
we'll say 160,000 to play with. -Alright. And this
$160,000, did it come from
401K, IRA, savings? Like how did you save that? Are you just... Are
you really good at budgeting? -I wish I was really good at budgeting. I leave
that to Ester. -Okay. -This came from the sale of my company. -Okay. So, you had a company,
you sold it and then right now, you're working for somebody else?
-Correct. -Awesome. And do you love what you do? -I used to. -Okay.
-I've gotten kind of burnt out on it. I still have a deep respect for what I do
and the help that I get to give people. -But that's true for everybody. I mean,
it's weird that I can't believe that our grandparents came from a generation
where it's like, "You're going to decide what you want to do and then you're going to do
that for 50 years and love it all." I'm like, you know, you become crotchety when
you do something too long. Your industry is super fascinating. And you
definitely providing I think a meaningful service for a ton of people.
But sounds like you've kind of... -I would like to have something else that helps
support my family short and long-term. -Good, awesome.
So, $160,000 and here's the question today: How do you take $160,000 and what
are the options? Like what can you do with that to actually create the future
that you want? That make sense? -Absolutely. -Mind if I play? Okay, I like to play.
Here's what I know about you: I know that you have a job.
Credit? Average? Excellent? Normal? Average to slightly below average.
-Okay. So, somewhere in that average range and the question is how do we take this
$160,000 and turn this into something meaningful? So, I'm going to now just
basically pretend that I'm you and say, If I were you guys and I didn't have any
of your rules about money, if I didn't have any of your beliefs about debts,
good or bad or business or anything. If I just literally had your assets and your
life, question is "What would I do to become financially free?" So, that's really
that's what I'm going to kind of operate from, okay? Before I show you that,
I'm kind of curious. If you were financially free, now, I want you get to
ask yourself this question. If you were financially free, what would you do
with that freedom? Like, what would be meaningful to you? Like, why do you want
to become financially free? What drives that? -You want to answer that
first? -Sure. I want to spend more time with my husband and my family. Go on
trips that we've never been able to go on. -For kids, right? -Yes. For kids. The
time is the big one for me. -Okay. -More time. -I get that. You know, it's
interesting that at one point your life, like the more money, the more better. And
then another point in life, the more time, the more you know more better. And at one
point, the more health, the more better. And so, right now, time is the big priority.
-Yeah. -I totally get it. I got 4 kids, you know that.
So, like time is that thing that I value. And if we want to get our time
back, we need someone to still work for us. And right now, it's "How do I make this
work for me so I don't have to work for me?" And how do I create other businesses
and other ventures? And how do I basically create leverage?" This is the
one thing that most people are not really like concerned with that they
should be. Everyone is trading their time for money. And when you had your
own business, you actually built the value. You got to sell it. And that value
said, "Wow, I actually built something more than the money I got paid because I had
leverage." So, we want to bring this leverage back in your life.
So, $160,000. What goes through my mind is I start seeing a bunch of 20% down
payments on some of the sexiest real estate in existence. Now, you guys know
that out of the last several thousand deals I've done, my expertise is an
averaging 25 to 30 percent annual ROI. It's easy for me to produce but it
was really hard and costs 10 million dollars so figuring out how to do it.
Needless to say, it's now I've got a machine of 200 experts in place.
And we buy real estate every single day and we know how to make it real simple.
So, here's what it looks like: On average, I'm setting aside about 35-
45 thousand dollars to put towards a property. And what this
represents is a 20% down payment. That's where Bank will say, "We're going to
take your job, you're your average credit and now we're going to allow you to
basically buy a property." If (by the way) credit has any kind of glitch... I don't
even need credit to buy real estate. But we only go there if we need to. I'm going to
keep it simple or sturdy, right? -Okay. -I've got millions of like just endless like
where-do-we-go, if-and-then sequences because it's like real estate is built
around, "No you can't, no you can't." In fact, it's cool that you have a mom
and real estate. Most people don't believe that you can make money in real
estate. A lot of people think it's a scam or you'd have to get lucky or you'd have
to have the right timing. Reality is if you know what you're doing, you have a
good strategy is super viable. So, if 40,000 can buy a house and
if this is a 20% down payment and this house is earning me 25%
a year then there's really enough here to
actually buy carefully 4 of these homes. Now, here's the thought process: If my
money is earning 25% a year, how many years does it take to
double? -That be just under 3. -Yeah. So 25, 25, 25, 25. And with it compounding, it's
right around just a little over 3 years actually. But then when you have
selling costs and there's some other things. So, me my goal is always "How
do I make my money double every 5 years?" A banks money, if I'm earning 1%
takes like a lifetime to double. If I put money in a 401K or in 3 or 4
percent, it takes like 20 whatever years for it to be able to double. So, like if I
can double my money every 5 years, I'm happy. Like... I'm like, "Okay, that will
accelerate and can build to something." So, the goal is if we put this on a timeline,
5 years, 10 years, 15 years, 20 years. If we start right now with 4 homes, then
in 5 years, the goal would be for what? -Have 8 homes? -The goal be for that to
turn into 8 homes. And then in 10 years for that to become 16.
And after that? -32. -32. And after that, 64. -So, here's the good
news. Real estate with time, a small thing always becomes a really big thing. You
guys are still young. So, you know, I think it's important to have a 20-year plan, a
30-year plan, a 4-year plan. But you want to have financial freedom way
sooner than 20/30/40 years. So, you have to stack some things in
addition to this. I think the first walkway and then I have 2 more ideas
for you, the first walk away is just understanding (1) you can buy
real estate. You have the ability. And if whether that was sitting in a 401K, IRA
or from the sell of a business. Every one of us should be concerned with "How do I
make my money work for me so I don't have to?"
When these multiply... You know, what happens when you have 32 homes
and if you focus on cash flow at the time and you're making 4 or 5
hundred dollars a house and you have 32 of them. That turns into a really sexy
cash flow. Right? So, step 1 is to basically like... Step 1, get your money
on track. Now, we have an ultimate goal of what you want that to do. But before we
can even focus on the goal, there are other things that you can do to actually
accelerate this. So, for example, you mentioned your mom is in real estate. She
does hard money. -Correct. -Do you know what kind of interest rates are interesting
to your mother and hard money? -12 to 14 percent.
-12 to 14. How do you think she would respond to 25? -She'd be
pretty excited about. -Would she be excited about it? -I think so. -Most
investors are. In fact, most people that are usually only earning 3, 4, 5,
6, 7 percent. But if she's even earning 12, you know, the idea of
earning more than that... If someone had that option, is there a chance she might
want to diversify and get in on some of that? -I
think so. -Yeah. -But you know what? She's family. So, you know family always says?
Well, I'm going to like, "You do it first." And I'm going to see if you fall on your face. I
mean that's just kind of... -Sure. -But if you go in and you start
building this track record... Not just your mom but other people, then you start on
saying, "Wow. How do I do that?" And so, I think if step one is get your money on
track, then when I look at step 2... Step 2 is get OPM which stands for Other
People's Money. Get OPM on track. So, this is all about actually... Yes, this in time
is going to create the freedom that you want but this is actually about you
basically getting yourself on track. And once you have a track record, that's when
other people basically say, "How can I get in on that?" And there's ways for you to
take advantage of that. There's a way for you to basically say, "Here's our track
record. This is what we're doing with our money. See that it's working." And then you
can offer doing something similar to them. And there's a way for you to win in
actually providing that for others. That make sense?
Do you have any questions about that? -No. -This is the accelerator. -Yeah. -And then
the ultimate accelerator is business. So, when you have your own business... Most
people when they find a business just find another job. So, they're just working
another 40/50/80-hour week thing trying to make money. I look for businesses
where my job is to actually become an owner versus an operator. Do you know the
difference? -Yes. -Yeah. -What's the difference? -Operator, you're married to
that business. And owner, you own the business and other people operate it for
you. -You 100% get it. Which side do you want to be on? I want to be on the owner
side. -And by the way, when you sold your company, were you an owner and operator? -I
was 125% operator. -You're the 125% operator. And
by the way, was it a profitable business? -Yes. -Which is why you could... Which is why
you could sell it for a profit. If you could set up... If you could
snap your fingers and set that same thing up again. But instead of being the
operator pay someone to be the operator, would there still have been pro leftover
profits? -Not, really no. -So, in that particular business,
it didn't work very well. -No. -So, your goal is to find a business where you can pay
to have other people run it and guess what it still has? -Profit.
-It still has profit. So, this is a huge accelerator right here and this
is a huge accelerator. So, these are my biggest financial beliefs which
is number one, be really good at paying yourself first, save money so that you
have money to invest. You've done that. Then you get it on track and get it
earning for you. Keep saving your money in the mean time so you can put more in.
And then in the mean time you develop a track record and you start
saying, "Hey time is the thing that makes all of us equal." We all have... We both... You
and I have 24 hours in a day. But if I earn more than you and that same 24
hours a day, it's because I have more leverage than you more than likely. And
so, all of us should be asking, "How do I get more leverage?" So my friends, this is
first of all like meeting one. And we're going to track your journey here. This
is the good news for you. The good news is, "Dude, you've got the ability to plow,
move forward and get in the space of real estate and dominate." You excited? So,
do you have any questions? -I don't. Up top of my head, I don't. -Okay. When we sit down
again next, what we're going to do is we're going to jump into the: Alright, how do we
like set this thing in motion and make it go. Because what we have now is a game
plan and it's rough. It's... We have money, let's get it put to work. And then we're
going to start multiplying it and then we're going to focus on those other
accelerators. So, when we get again, get together next time. For those of you
tuning in, we're going to go ahead and learn more about Trent and Ester and their
journey of what it is they're going to do to actually take their next steps to
actually owning real estate. Hey, thank you so much for joining Trent and Ester
on their journey of trying to figure out "Wow, we've heard about this whole real
estate game. How do we get in?" There's going to be more videos coming up where
we follow them on their journey and figure out does it totally like blow up?
Is this good? Is it positive? Is it negative? I'm going to show you what I've done with
thousands of other people. And I hope it inspires you that you can do the same.
Step 1, though. It always starts with a game plan. And some of you were thinking,
"I wonder what my game plan would be if Kris Krohn sat down with me." How do I
get that dude's formula. I'm going to make it super easy for you. In the
description below, there's a link. Go ahead and click that and you can
actually submit your name and phone number to talk to a member of my team
certified by me and how to deliver your custom financial gameplan. If you want to
know what your wealth plan is, if you want to know what it's going to take for
you to become financially free, become a millionaire or a multimillionaire; all
you got to do is click the link below. Talk to my team and they'll break it all
down for you. Thank you so much and we'll catch you on tomorrow's video.