Where do you get started in real estate? Well, I think it actually depends on who
you are and where you're at. Some of you have never bought a home
before. Some of you got some retirement funds and you want to figure out how to
put them into real estate. And some of you got absolutely nothing. No money
nothing going on. And today, I'm going to share solutions for all 3 of you. Alright,
let's get started with those of you out the gate that are saying, "I don't
know where to get started in real estate. But I have never bought before." If that's
me, then I'm thinking, "This is the advice that's perfect for you."
The first home you buy, you actually want to buy a home and a house. A home is a
place that you live in, a house as an investment property. Let it actually
double serve and here's why. If you buy that house and you only live in it for a
short time, guess what you can do? You can actually move out and turn it into an
investment property. I highly recommend doing this. So for you to get that first
house, what are you going to need? You're going to need a small list of some things.
Number 1, you're going to need a job that you can hold down for at least 2 years.
Or if you're in college, when you graduate, the banks will count all of
your years of working on your degree towards actually work history. As long as
you get a job in the same degree in the same profession. So basically, 2 years
of work history. The next thing that you're going to need is 3 credit cards.
You actually need to show that you for 2 years have been responsible with
3 different revolving lines of credit. I don't care what the credit
cards are, I don't care what their terms are. Get them and pay them off. You know,
use them and pay them off. So if you're just using groceries, the reason want you
to keep and paid off is you're not allowed to fall into a trap where you
accidentally start thinking that the money on your credit card is money that
you can spend. That's a no. And then the third and final thing that you're going
to need is you're going to have to save up 3% for down payment. And if we're talking
about a hundred thousand to two hundred thousand dollar house, we're talking
3 to 6 thousand dollars. So I want you to figure out how to save up a small
modest amount of money. Now what do you do if you have two years of work history?
You got 2 years on 3 credit cards and you've saved up 3% on a
down payment for a home? Then what I want you to do
is that want you to buy a home that'll make a fantastic investment. But totally
meet your personal needs for what a home would be. What do I mean by that? I want
you to get a discount. I want you to get a good deal on this home. I want you to
buy it intelligently. So that if in 12 or 24 months you move out, guess what? You
could do the whole thing again. I mean, listen. If you're not too tied down and
you're not bogged down by the moving thing, in another year to, go buy another
house. Live in it and then move on. Guess what? You've now got 2 investment
properties and you came what 5 grand out of pocket on each one. And if you do
it right where you're making fifty thousand or a hundred thousand dollar
gains in the next few years on these homes, dude you have set yourself up
pretty. Now, if you don't know how to do that, click the link in the description
below and talk to my team and they'll walk you through how to do that. So that
takes care of number 1 for those of you that have some money, you've got
retirement funds. See, if you're saying, "I want to get going in real estate but I
don't really know where to start. I've got maybe some money in a 401k or an IRA
or an annuity." Maybe you've been working on paying your house down or it's gone
up in value. So you have some equity. If you have assets sitting anywhere across
the board then your specific game plan is to focus on putting 20% down payments
on a fantastic investment property. Okay? What you're doing here is you're
shifting money from one asset and you're putting it simply into a different asset.
And here's the intention. You want to shift your money from a low-yield asset
and put it into a high-yield asset. So French economist J.B. Shea. He's known for
saying that building wealth is just nothing more than moving from low yields
to high yields. So in the game of real estate,
listen, 401ks and IRAs? A lot of them only doing 3 or 4 percent. Guess what
inflation is? 3 to 4 percent. So guess what? You're like... You're like
making nothing. Until you're making over 3%, you're really making nothing on your
money. You've got to figure how to make 6%, 10%, 20%, 25%. 25%
can you do that? If you have funds set aside in retirement and you want to know
where to put them, then what you need to do is you need to go out there and find
really good deals and put 20% down. so house is worth $200,000 and you can buy
it for $170,0000 or maybe it has a
ROI. You got to put 20% down. Might be 30, 40 grand. And boom, you're the owner that
home and its cash flow and its growth and you're off to the races. Now, before I
move on to the third category. For you, if you have some assets in 401k or IRA, you
can either watch my videos and set up your own system but I have a team that
finds me the very best deals in the country and we've got too many right now.
So if you'd like to actually check out my inventory and see if you can get your
hands on some, then also click the link in the description below and talk to my
team about that conversation and say, "Hey, I've got some funds in 401 k, IRA. Kris
said that he might have extra deals. What does that look like?" Okay, third. You got
no money whatsoever. This is my favorite category. You know, if you got money, yeah
you can invest in real estate. First category save up a small down
payment? Yeah, you can get into real estate. But when you've got nothing going
on for you and you don't got the money or maybe you've ruined your credit or
you don't have credit or you haven't developed credit, you're thinking to
yourself, "I don't want to do category 1 or 2. I don't want to have to go work 10,
20 years at a job or 5 years and save up money. How do I do it you did Kris?
Like how can I start investing right now?" You know, I say this time and time again.
But I feel like I need to keep repeating it because it falls mostly on deaf ears.
Real estate is not a function of how much money you have. It's not a function
of your credit. It's a function of people and solving problems. So in the game of
real estate, it's how do I provide value. How do I create solutions. And it does
not take money to do that. What it does take is knowledge and
know-how and most importantly, courage to act. That has made me millions of dollars.
Now, I've got all this money. But guess what? I still can do as much real estate
as I want. Whether I'm using my own money or not.
Why? Because of knowledge and because of courage. So, I want you to just understand
first of all, whatever your financial situation. If you just... If stars aren't
lining up for you, if you don't have a lot of resources going for you, I get
that. Because I started poor, broke, deeply in debt, broken mindset with the low
degree of confidence. I just... I had enough courage to act on the information my
mentor gave me. So, if you've got no money and you want
to know where to start, what you need to start with is a mentor.
And a mentor, I want you to look in the community for an individual that has
experience first of all having done lots of real estate deals without using money
or credit. Those 2 criteria. Now, they exist. You can actually... If you just get
the word out there. Going to your social media and start asking around,
you'll start finding people locally in your area that will meet that criteria
because we're everywhere. And if you have trouble finding a mentor and you ask and
you're thinking yourself, "Man, I wish Kris could be my mentor." Well, I
do that for some people. But only for action takers. So you could also click
the link in the description below and when you talk to my team, I want you have
a different conversation. Because this person's going to say, "I want help finding a
really good deal on the home I'm going to live in." And this person is going to say,
"Well, I want to get amazing deals and transfer money from the wealth I've
already created in my retirement plan." And for this individual, it's, "I got to
find a mentor that can give me the knowledge that can help me get my start
in real estate." That's what you need to focus on. So you just have those
conversations with my team, they'll break down you some of your different options
and the options might not work for you. They might not be good for you. And
that's okay. You would need to know that. Because we're not good for everyone and
everyone's not good for us. But more importantly, it's you taking action and
doing something. What is created wealth for me over the years has just been the
ability to put myself out there and every day I take action. Every day I
expect myself to be better than I was the day before. So whatever you do here
at the end of this video, make sure that you take some kind of action. In fact, the
smallest action that you could actually take is actually just subscribing and
ring that bell. Because I'm I can notify you every day the moment our video comes
out so you can at least see what the topic is and if it's going to serve you,
watch that video and learn and get smarter. Getting smarter learning and
growing, that is a form of mentoring. And that when you click that subscribe
button, you're basically saying, "Kris, help me understand more of your world on
how you've created all of this wealth for yourself." Because remember, the hills
are alive with the sound of real estate. And they are available to you and to me
regardless of where you're at. So friends, whether you have money, retirement funds,
no money, young, just starting out, poor, rich.
Doesn't really matter. Real estate doesn't care. Real estate however can work
entirely for your good. So, subscribe, ring that bell to see on
the next video.