So team, we did this training today because I want you, my partners, my
Mavericks, the public.... I want everyone to be on the same page. Because we're
building wealth so rapidly. We've got a huge team that we're coordinating. and I
want this information to be free to the public for the first time ever.
At this point, what kind of questions do you have as we get into its
implementation time? Let's get some questions that people might be having
that we haven't covered yet. -So, Kris... I'm torn between investing in a business or real estate.
So, my question for you is: Is my ROI going to be higher in business or real estate?
-Great question. If you are a business woman or
a businessman and you have a track record of succeeding in business, then I
would say you should always have money set aside for investing in your business.
In fact, there are 3 things that I invest in predominantly. I invest in real
estate, I invest in business and I invest in me. As in I set copious amounts of
money aside for coaches mentors and training and events where I can invest
in me. Because I'm at a point in my life where I know how to get an ROI on that
that is bigger than 20%. If in business I can do ROIs over 20%, I will
absolutely put money into business as well. Those are 3 things that I
really believe in. Real estate is like my foundation though. And a business is
often for building active wealth. And ultimately, we're trying to replace her
active income and at the same time of a foundation that if I ever walked from
active, I can still get paid the money that I want. So they're both important
it's just a matter of how much of each. Yeah. By the way, if I'd never done
business before, would I take all of my savings and put it into a business idea?
No, I would not do that at all. You will probably fail. Look at the numbers of
businesses that actually fail. That's not to discourage you. It just means, usually
when I invest in something I'll put in time or money not both. So, if you're
going to be building a business, be careful how much your own money you put into it
because put all your eggs in one basket, that's kind of like investing 101 no,
no's. Great question. Who else has question? -Kris, I'm also torn
between buying e personal
residence first... So, my first home buyer experience or purchasing investment properties
with my money. So, should I get to my own house
like you did or should I get real investment properties. If so, could your
team help me find that property? -Really good. Okay. So, first of all, 2 things on this. A primary
residence is usually a 3% down and investment property is a what? Okay. So, to
answer the question "What should you do first?" If you have enough money to do
this you probably have enough money for both. Which means do both. The order what
you do it that's kind of up to you. But if you're saying "Well, this is really
more of a primary residence as in a home." That isn't not the same thing as a house.
House as an investment. A home is a place that you dwell. Always make sure that
you put investing before your personal needs. Are we really clear on that?
Most people financially get into hot water because they're about their
lifestyle and the car that they drive and the trips that they can take. And all
of that is good and dandy unless it's in the way of growing financially. I would
100% ...And always have put my money towards growing myself financially
before pleasure. And so, there's got to be a delay of gratification. Now, if you're
saying, "Primary residence is actually part of my investment plan and I could
do both", which one should I do? I would do both if you can do both.
But as far as the primary goes... Let's say that you want some help with how to do
that, what we can do is I do not have a division set up in my company to help
anyone anywhere in the world get a good deal on investment property. What I do
have is access to an elite chain of Realtors through a company we've had
great success with and we know how to find the most successful realtor in the
area. They're doing enough deals to be so in tune with the market, finding the best
deals. That's where we're having great success. So, if (Derek) anyone in your
department or Denise is like, "Hey, will your team help me with the primary
residence?" We just go through Tyler Bennett and Brandon and say find me the
best realtor in that network and we'll hand over the contact and say let's go
make it happen. That's how we help you do a primary
residence in your area. Does that answer the question? -Yes.
-Awesome. Great question. What else? Denise.
-So, going along with that. How much access
do I actually have in your
team? -Yes. So, we want to set really good expectations here. People get access to
me first of all by coming to the what? By the coming to the events. The events
every quarters is me saying it's 4 days from morning to late night and
we're going nuts and there's VIP sessions. And so there's lots of
opportunities for some really deep mentoring and connection right there. An
intimate connection. My team of 200 experts it starts at this table with our
team here that goes into our marketplaces. And so, my partners get
unfettered access to us. Which means you you have a question, call in. You want to
use email, use email. In other words, get in touch with us, ask your question. I
have to say for my partners I have a couple of rules before anyone's allowed
to become a partner of mine in the qualification process. And the first one
is, I don't do passive-aggressive. If you have something that you want to say
that's bothering you and you don't say it, that's on you and it's going to fester
and it's going to go toxic. I hate passive-aggressive people. I really do. I
love the people. I hate the flaw in the personality. It is 100% always a flaw and
it's something that you guys know we don't tolerate here. If someone has
something to say, they need to speak up and own it because a problem that goes
on communicated, fester's. So, we avoid that by saying "Please be a good active
communicator". Because you'll always be able to reach us. We'll always be able to
dig in and do the research and find an answer. So, I think that's really
important is that there's no limit to the team access. Because it's really
customized. It's... What are your needs and what do you need and what questions do
you have. And let's get them answered every single time so you can actually
move forward productively in the game. So... Yeah, I mean bottom line is when you're
accessing... If you've been selected, if it's a win-win for you and us to come
into partnership together, then you get all the hand-holding and help that you
need. Yeah. -Kris, as an individual looking
to be a long-term partner, what is the vision of buying? Is there benefits
for like my like children or my family? -Yeah. -It's such a good question. So, when we come into
partnership together, one of the steps is to set up the LLC. And when we set up the
the limited liability company, the operating agreement goes over the rules
of what happens if you die or I die. Because if I die, my team will keep
building everything until they choose to want to pull out which can happen along
the way anyway whether I'm alive or dead. If they die, their children are going to
inherit it. So, we've thought through these things to make sure that we've
handled them. But I will say that what we're looking for partners that are
really long-term minded, here's what people who understand always. Once you
get into real estate, there's never a goal to get out. Let me share with you
what I mean by that. How many of you want to pay the lowest amount of tax as you
possibly can. If someone were to start and let's say by 1, 2 or 3 or
4 or 5 homes. Let's just say it's 3 homes. They've probably paid some
taxes and penalties on IRAs or 401Ks or qualified funds or how to payment
increase on a home equity that basically allowed them to get these homes. The goal
is to grow these homes this way. When we say that 3 becomes 6 homes, it's
going to be 1 of 2 ways, we're either using a tax-free or tax deferred
refinance which means keep the property, pull money out to get more. Or when we
sell, we're going to do a 1031 exchange. And a 1031 exchange basically says, "You
don't have to pay taxes on your gains as long as you put it into like in kind
real estate." So, this number in time, Jaden can literally become a hundred homes and
it can become more. We don't have to pay taxes as long as we keep it in real
estate. More houses, more cash flow. So, the goal is to keep your real estate assets
growing. Maximize your tax benefits. Keep getting paid from your real estate and
then you pass it on from generation to generation to generation. One person had
a chance to mentor with from Italy. He's a sixth generation billionaire. And I was
asking him what he teaches his children to prepare them for the wealth being
transferred. And he said that you really with children only have a chance to
really give them a handful of core values. And give them the right core
values. And one of his core values is that fear is not in our DNA. I thought
that was pretty cool. And another one is that we mentor with masters. Which means
don't work with any mid-tier. You always go to the best of the best. And that's
who you learn and that's how you train from. Once you have your real estate city
and the best, it's just going to keep growing and expanding. The goal isn't to...
This is not a short-term play. It's not a get-rich-quick play or at least I should
say a get-rich-quick play. It's definitely a get-rich-play. And it's
about keeping it in the game and just continue to expand it and then pass it
on from generation to generation. Good question. Awesome.
-So, if I have a good sitting in my 401Ks, what is the process of me actually
taking that money? -Okay. If someone has my... Oh, this
is called qualified accounts. 401Ks, IRAs annuities. You have a custodian. There's
someone that administrates your 401K or qualified fund. Every one who has one of
those accounts knows who that is. It's calling the 1-800 number and basically
making the request. You need to understand this. If your money is sitting
in an annuity, a 401k or an IRA, someone is making money managing it. Whether the
market goes up or down, they win. So, if you were to tell them you want your
money out, guess what every financial planner will tell you. They'll always say,
"Well, what are you going to do?" It sounds so harmless. And then you start telling them.
And all of a sudden, it is like, "Oh, I've heard of that. Can't tell you how many people I
know who have lost money doing that." And it's all B-S. They'll say everything and
anything because their income is derived from making their percentage and their
points on managing a lot of people's money. So, you do need to be aware of that.
So, usually I won't give people reasons. 401Ks are usually different than how you
would get that with annuities or other kind of assets. But just know that
financial planners... When a financial planner is involved, they don't want your
money to go out for any reason. And they're gonna talk you out of it tell
you it's a horrible idea. That's their job. I don't really like financial
planners. So... It's my money, right? So, you just call and ask and then there
will just be a paperwork process and sign this and that. And then they'll tell
you, it'll take 10 days or 14 or whatever it is for it to actually get out. Wire it
into your account. They may withhold the money that they think that you'll need
for taxes. So, some of it may pre go to taxes. It'll be your
responsibility to set it aside for paying taxes. The penalty will be pulled
out as well. And then you'll have your money.
So, usually actually a fairly simple process unless you have to get into a an
argument or debate or a conversation about why you want your money. Yeah.
Any other questions? Go ahead, Derek.
Can your team help us to acquire financing like home loans
or HELOCs? -If people are going to ask
that question.. When someone wants help with a home equity line of credit,
I'm always recommending that they go to their local community credit unions and
at least 2 of them and just see who can give them... Who will quote him the
highest value on their home and the lowest rate. And with that bit of
information, I'll pick the one that I'm gonna go with and then I get my home
equity line. We generally won't do HELOCs for people because it's better in
your hometown community or the real estate is sitting. Cash out refinance is
different. If cash out refinance makes more sense like... Let's say I use my home
equity line to buy 3 houses and now I want to lock in a lower rate, then our
team nationwide can handle that and usually get better and more competitive
rates just because of the volume that we do. So, good question.
Any other questions from things that we have covered today? Alright. My friends,
listen. When we're doing game plans, when we're serving people, when we're putting
those together, I'd say that my final comment is make sure that they
understand all of their options. Their options will always include maverick.
Always help them understand if there's money sitting in equity any other assets.
Help them understand all their options. In almost every situation, there should
always be at least 2 or more options. And that's all we can promise. We can
promise to give people their options and then we can facilitate superior
investment options and practices. And friends that's how you make a million-
dollar game plan. And that's how you make it work. And we certainly have the team
here that's doing that. If you yourself are get to the end of the series and
you're like, "Wow, Kris. I would love to have a custom game plan." You can find
that in the link below. If you're one of my beloved partners or one of our
Mavericks. I'd give you this information because I want you to know your options
and I also want you to know how to find people that you can invest and share
this with so that you can continue growing your assets. Most importantly,
this training is about all of us being on the same page.
So, whether we have a new client coming into the system, whether we're helping
service someone and helping him execute their game plan. Whether they've been in
for 5 years and want to know their next options. Understanding this
methodology is what has made me my money. It was the beginning foundation of all
of my wealth. And I really believe it's the foundational knowledge to helping
people build wealth in the game of real estate the way that we teach to do it. So,
thank you guys for being here for the training. Thank you for watching. Find
more information and those links below including documents that we've covered
such as this. Get that free game plan. Or if you're one of our partners, take your
next steps in getting your next house. Because the one thing that we all share
the same of my friends is time. And most people will think about what they should
be doing instead of actually acting on it. But with this information, this should
build confidence for people's next steps. So that they can move forward and get
that next house. There's for every one of us and for all of our partners always a
next house on the horizon. And our job is to make it crystal clear and then make
it so. Thanks guys. Congratulations.