What's up ninjas? Kris Krohn here. And today, we're talking about how to get
your career started in real estate?
Hey, what's up? So, listen. I'm joined today by Carson and Chris. You may have seen
them in another video. They're members of my team to actually run the company. And
dude, today since you're both you're shooting videos, I thought, "Dude, let's
throw this one down." Because both of you are doing real estate, both of your
investors. And so, when someone types in this question the internet, they're like,
"Google, how do we start my career in real estate?" I thought, "let's make it. Let's
make a video and show you how to become the most successful investor on the
planet." And I think to start this conversation, we got to make sure that
people have no confusion about what a career is in real estate and what a
career is NOT. -Yes. -Let me go at this one. So, first question you gotta ask is "Is
real estate your job? Or is real estate your future?"- Right. Because this word
career is a little bit confusing. Most people think of career and they're like
in a cubicle and I'm working all day and it's like... That's not what... -Really. Dude,
if you're if you've turned real estate into a full-time job, you're not an
investor. Your money's not working for you. You're working for you. -Right. Because
you could have a real estate agent who would say, "Oh, I have a career in real
estate." -Sure. -Sure. That's true. You know what? There's a difference. If you're
still trading time for money which by the way is a cool way to get started. But
you're not investor yet. You're just... You taking the first step of I need money to
work for me. The problem is most people who have a career in real estate really
mean they have a job in real estate. -Dude, you know how many realtors I've met? And I'm like, "Oh, yeah.
I'm an investor like..." "I'm in real estate too." I'm like, "What do you mean? You own
properties?" Like, "No, I'm an agent." Okay. No offense. By the way, agent is a job and it
can be a really great paying job but that doesn't mean you're an investor. An
investor means you own properties in your properties work for you when you're
not working. -Right. And I think... I think most investors would shy away from this
word career. May be young. But I think they shy away from it because they're
like actually real estate is how I freed myself from a career. -Right. -You
know, a job a day-to-day a nine-to-five. So guys, let's talk actually about how
you really start a career in the game of real estate. It
means for us it means that you become an investor. And it means that property
works for you. You don't work for it. So, a lot of people when they get in there
like, like... Right now, I just had a brand-new partner sign on with me. He's
got all these homes in Kansas City. He's got five of them that he's accumulated.
And he's like, "Kris, this a nightmare. I'm a full-time teacher but my
properties come calling every day and then I'm playing landlord and I got a
fix crap." And it somehow has turned into a job. And he's having no fun. Finds me on
YouTube and he's like, "That's it. I'm selling it all. I'm partnering with you.
I'm having you do it for me." Because his definition of a career now is starting
to go from, "Crap, I'm trading on my time for dollars." And not even always dollars.
Just trading time for sometimes lousy experience to "Wait a second, I can make
loads of money in real estate without putting massive amounts of time in." -Let
me tell you the secret of how this works: Step one if you want to be a real estate
professional, an investor, you got to have some capital. 2 ways to get it. Either
number 1 you need to have a job. PS real estate agents or other real estate
careers are a good way to get some money. Or... -Another thing on that though is if
you want to use leverage. If you want to use a bank to help you fund your real
estate then then a job is... -Absolutely. -Must they expect what? -2 years work
history. -And you don't have to have a ton of money by
the way. You know, like, if you got a job and you're stating just a little bit. Dude,
that's enough to get in the game. That's how you got started. -Your other option is
you need to have the money yourself or you'd go out and find the money. And this
is where Kris is accelerated. It took me... I believe in doing things the hard
way. It took me 4 years take my first 4 homes where you did it in 4
months. The way you did that is you used option number 2. You found somebody
with money without a plan. You said, "I've got the plan, you've got the cash.
Will be friends." And that is how you transition away from trading your time
for dollars. Trading your dollars for more dollars. -Which by the way, the thing
that you have talked about plenty is in order to do that, what do you need? A
track record. -Well, dude. This is where it gets kind of nuts. Because you guys are
right. Phase 1, have a job and have a career somewhere. Don't care what it is. I
really don't care what it is. Have for a couple years. Just be saving money little.
Live smart. And then you move that into property. Phase 2 is, "I'm not
buying a property. I'm buying another property." But phase 3 is
when you say hey I had a track record. I shouldn't have to save up money
anymore or wait for my real estate to mature. People
can look at my track record and say, "Hey, here's my money." In fact, if you go to the
link below, you're going to find a way to get connected with me my team and be
like, "Wait. Kris, you've done this 4,000 times? You've got insane track
record on this.Dude, let's just let's go faster." So, for both of you guys, I've
never actually said it to your face. I'm going to say right now which is you're both
in real estate, you're both prank properties. And at some point, when you go
to the whole next level, you do what Tyler betting on our team and others have
done is when you're like, "You know what?' This is enough of track record that I
know some people with money tracking me. And I can partner with them. And let's
just do more because it's been working. -Now, I don't have another note when you
get to this face. As an investor, your time is insanely valuable. -True. -You will
never be making more per hour than you're doing pro formas at our property and
going, "I am buying this one. Or I am selling this one." -Yes. -Guess what is now?
Less of return. Being a property manager. PS, I am happy. You most property managers
charge between 8 to 10% to manage your money. But they're taking the
midnight phone calls with the tenants. They're figuring out how to replace the
leaky sink. They're doing all the real estate career stuff. -And often,
undesirables. -Dealing with evictions. -We've been talking about a career. I can
think of 2 individuals that wanted to get in the game of real estate and they
inserted themselves in the property management field. So, we do it four
years. -Burn out done. -There's a personality
type that just loves that crap. -Yeah. -Most people, you're gunning for burn out. I would
not recommend. -Yeah. -Other than to get started. -To get started, you
do what you have. It means buckling down for 2 or 3 years siphon it up into
being a property manager because that 8 to 10 percent sinks your portfolio. Do what
you got to do. But when you talk about managing 4, 5, 6,
18,32 properties... -Run it like a business. -Hire that that stuff out. Make it scalable.
Because scale is what takes you from being a thousandaire to a millionaire.
-Building a system. You're like, "Okay. I'm going to trade you this little bit of
money to free up my time so I could make more money." -Big guys. Super powerful
principles here. You're hitting the nail on the head. And so I guess, this is what
I want to end the video with. You came here wondering you know, "How do I start
my career in real estate?" And I guess this is our collective advice. Don't get
a career. Don't get a job in it. You probably
got one of those. Become an investor and set yourself up that way because what
Chris just said here, dude, I actually haven't been running the math
from the beginning. On my very first property, when I reverse engineer, I was
making about 4 to 5 hundred dollars an hour.
Today, I'm making tens of thousands. Sometimes more than 50 thousand
dollars an hour. Why? Because we got smart and we said, "I don't want a job." If you
want it done right, don't do it yourself. You do what you got to do in the
beginning. But by the time you get up to that 4,5,6 home, you should be putting a
team and a system in place. -Don't do it alone. -Yeah. So, you're not
saying, "Hey, I need to figure out where this happened. This happened in the
appraiser, and then this. And the property manager." -A real career person in real
estate will do a better job than you for for cheaper than you. -Yep. So let them do
it. -Yep. Now, you got to be smart enough so
you know when they're good at what they do. -And if you're confused in any way. How
do you really get this thing started? How do you really make it happen, there's
a link in the description below then or maybe to get a free copy of my book, get
with my team. Learn how these guys that are insiders amongst thousands that are
actually out there doing it. You can become one of them. In fact, In one of
the next videos I'm shooting I'm shooting with a guy who started out
watching me on YouTube. Came to one of my events is now on the
team freaking crushing it. (Jeremiah) And so guys, I just want you to understand.
This stuff is real but place smart from day one. Get proximity to the right
people with the right system of the right team that can show you how to make
the most money with the least time, effort and risk. Because in the beginning,
your resources are precious. Alright guys, hey! From all of us here,
thanks so much for watching. And if you're not already, make sure that you
subscribe, ring that bell. Every day I got a video coming out to empower you and
help you be your best possible self. Your wealthiest investor, happy and every part
of your life. So we'll see on tomorrow's video. Check out that link below. Will get
you cranking and real estate today.