-Hey. How you doing? My name is Kris Krohn. Today, we're talking about standards when
it comes to buying real estate. I'm going to share with you how to know whether
you have a good deal or not.
So, check it out. You want to crush it in the game of real estate but you're
really wondering "How do I know if I have a really good deal? How do you even know
what kind of deal you should buy? How do you know what you should even be looking
for?" And in today's video, I believe I'm going to give you some great clarity on
that. I'm going to share three things specifically that. I believe are going to
help you with that and with that. Let's actually jump in with number 1. But not
first without acknowledging, the monopoly Scottie dog. When I play the game
Monopoly, I win 87% of the time. And superstitiously ,I'd like to believe
it's because of the dog. Reality is I have rules that let me know when or how
I'm winning. And in real estate, it's the same thing. I'm going to share 4 of them
with you right now. So, check it out. Number 1 biggest problem I see in the
game of real estate is you need to know what your niche is and you need to stick
with it. Seriously, hands down, one of the biggest problems
that I find with people is they bounce around they're like well I'm doing a
flip, now I'm doing a buy and hold. Now, I'm doing an apartment. And they never
really... They have a lack of congruence and they're trying to pick up experience
everywhere not realizing how dangerous it is. You know, when you do a deal,
there's a risk that it might not work out. And if you're doing it for the first
time or second time, dude, you're a novice. You don't know what you think you know.
That can create a really significant problem and having success. This document
right here is called Chrome Consortium. Bringing institutional structure and
scale the single-family. This is my way of basically showing people, "Hey, I've
done over 4,000 homes just like this. That makes me an expert in this space."
I'm averaging 25 to 30 percent annual ROI. It's crazy.
Click in the link below and learn about partnering with me I can give you some
of these deals. But I have a different tool that I really want to focus on
today. Which is if you want to know whether you have a good deal, 3
things. Number 1, what is your niche? Now, is it rentals? Is it lease options, like I
often teach people. Is it flipping? Is it apartments? Is it commercial? You want to
know what your niche is and then whatever niche it is, you want to stick
in that niche. Now, in the description below, you can get a copy of my book for
free. It's this real estate book. And the reason why I give it away for free is
because I basically say, "There is a best way to transact real estate. This is my
opinion mathematically on I think that is." You don't have to agree
with me. So bottom line, know your niche. Stick
with your niche, master your niche. All right? And I've given you some good
resources if you don't know exactly what that niche is. The second thing, if you
want to know whether you have a good deal, well, before we can get to the good
deal; now, we have to hit number two which is what's your philosophy? Like you have
to have a definition of what a good deal is. Is a good deal getting a property
under value and basically getting it out at a discount? Is it based on a certain
ROI measure? You know, for me, when I help people do lease options in their
backyard like the book teaches, basically what I'm doing is I'm helping you do
kind of real estate where you're focusing on discount up front. Because
you might not be in the most advantaged neighborhood or city or area. If you're
doing nationwide investing and tapping into the very best markets nationwide,
I'm really focusing heavy on ROI. And I got standards. I need a minimum of 25%
annual ROI. Sometimes they have 30, sometimes you have over 30%. But they got
to have 25. Why is that my standard? Because I know that my money's going to
double at least every 5 years after I sell the thing and then double my
portfolio, it's part of a system. So, you have to ask yourself after you know your
niche that you're going to stick with until you master it, then the second thing you
really want to know is "What's your philosophy? How do you define a good deal?"
In my book here, I talk about a 15% discount for a backyard deal being a
minimum milestone. But ultimately, you got to figure that out. For me, I focus these
days more than anything on ROI. So, the third thing that I want to share with
you is you've got to crunch the numbers. This is the third thing. And this is the
scariest part for most people. But let me show you how ridiculously easy this can
actually be. If I take a $200,000 home and then if that home has 2,000 square
feet, then I can divide them into each other. And guess what I find out? Hmm.
This home is selling for $100 per square foot. And then I could actually check the
next deal. The next deal was actually oddly enough was a 190,000
-dollar home for this 3-bedroom 2-bath.
It was 1,900 square feet. And so, I divide them into each other. What do I found out?
Weird, it's also $100 a square foot. And then I check on 10 more deals. And
one of them's at 110 a square foot. And one of them's at 95 a square foot. One of
them's at 98. And one of them is at 103. So far, you understand it, right? But then
I'm looking at a deal that I can pick up for $200,000 and I find out that it has
4,000 square feet. And I'm like, "Oh, I divided this into that. And guess what I
got?" $50 a square foot. Now, just think about that for a minute.
93, 98, 100, 150. ♫ One of these kids ♪. Something is wrong here
or there's a fantastic deal that's brewing. So, I crunched the numbers and I
get in my math and I figure out what's happening here. Same thing for me.
These days, when I do my nationwide, the biggest thing I'm looking at is ROI.
Return on investment. I take all of the math and the numbers and the future into
account and I basically say over 5 years what am I going to average.
And I have standards. My standard is it's got to produce at least 25%. If it does,
I'm interested because that's aggressive. Most people struggle doing a real estate
deal earning 10%. Maybe 12, but not about 15 not 20 and not 25. So, I have
standards that's gotten me to where I'm at. I guess what I'm sharing with you
today is if you want to know if you have a good deal, you need to number one,
understand what is my niche. Number two, what is the philosophy or how will I
know if it's a good deal? And then number three, you need to know how to crunch the
numbers to actually verify. If you do these 3 things, then you actually
know what a good deal is. If you have no idea, get a copy of my book
and start somewhere that would be a great place for you to start. Now,
there is one last tool that I think is really important for you to be aware of.
By the way, if you're liking this video and it's helpful for you, do me a favor,
will you smash that like button? It tells YouTube to basically put this video in
front of some other people it's a good suggestion. Or you know, feel free to
share it with someone else. But really what I want to hit for you is, I find
that the biggest reason why we don't have more millionaires in the game
state is because people are scared. They're nervous, they lack confidence. And
I could say read a book. But a book doesn't talk back. I could say go to an
event but the speaker is not on speed dial. That's why I created a hotline. A
real estate hotline that is basically designed to be there... You know, it's not
24/7. It's business hours. But you can basically talk with my expert real
estate team and ask him any question on crunching numbers, reviewing a deal,
getting a mortgage lined up, finding a credit partner. We do all of these things.
And this is the same team that I'm using to transact a property just about every
single day. They're super knowledgeable. They're the ones who have helped me do
thousands of deals. And if you click in the description below, you can actually
you know, click on a website that'll tell you a little bit more about it. I've done
everything in my power to make it so crazy affordable. This is the one thing I
wish I would have had. This like a mentor in your pocket. Someone knowledgeable, it
can walk you through and help you understand what's missing. And so, that
real estate hotline is something I highly recommend if you're brand new. If
you don't know where to start, get the hotline. If you're looking at a
deal and don't know if it's a good deal, get the hotline. If you're stuck in
stagnant, get an outside perspective. Bottom line is you should always be
buying real estate once you start until you build all of the wealth that you
possibly want. And so I now created a tool that you've been asking for and now
it's available. So, click the link below we'll get that to you. We get this one
life. I don't know what comes next. I don't know what its rules are. For the
most part, but my belief is that we were sent here for a reason. And for me, as
best as I can sum that up, it is to express my purpose and to have it all.
Which means I want to create as much wealth, health, connection as I possibly
can. Find balance in each of those areas. Tear it up, achieve, win, learn, grow. Make
it through my struggles and difficulties successfully. Get to the other side and
ultimately I found great happiness. Today, I'm doing that and serving you. So thank
you so much for watching today's video. Make sure that you give it a thumbs up
and like it. And otherwise, click the video that the internet thinks you're
going to like next from my channel. And otherwise, click the link below and we
will get you started with the real estate mentor and how
that you need at a fraction of the cost. So you get going confident in your real
estate. Take care.