Alright, listen up smartypants. You want your real estate to buy you a car? This
video is going to share with you exactly how I would do that. Dude, I am so proud
of you for watching this video because check it out, you're watching a video
that right now says, "How do I buy a car with my real estate?" Do you not know that
other people do it the other way around? Do you know that most people are like,
"Dude, I graduated college, I got some money come in or I got a good job let's
buy a car." And what they're doing is they're actually buying depreciating
assets. You're thinking smart, which is one of the first lessons my mentor
taught me. I drove up one day to his house, he had this big brand new boat. It
was like $600 bout or $700 dollar boat or something.
And I said, "Wow, that's a nice boat." He said, "Yeah, my real estate bought it for
me." And I'm like, "Tell me how you did that." He
said, "It's simple." I could put seven hundred dollars out of
my pocket every month and I could consume it on a boat that goes down in
value. Or I could take my money and I can buy a house. And let's say the house
produced $700 a month, his house did. It actually paid for the
boat. And his house goes up with value and it replenishes $700 every
single month. He could get rid of the boat and he would still have the $700 a
month. That's the difference, my friends, between an asset and a liability. The car
is a liability, the house is an asset. So, by the way, if you want to have a car
then you should buy it with an asset instead of actually just purchasing
another liability. You can get yourself swimming in debt, buried up to your neck
in debt. And so, what I want to do is I want to actually show you what this
looks like. Now, by way of bonus, my favorite way of actually buying the
nicer things of life is with real estate. And
like right now, I'm doing a deal. This deal is going to make me about $1,000,000
a year residually. Every single year. I'm really excited about this
project. I've never done a deal this big, I've never had a residual that big. I'll
check back with you in 6 or 12 months and tell you if the residuals as big as
I think that it is. But that one big piece of commercial real estate, guess
what it's going to do? It's going to pay for all of the liabilities and the things
that I want in life. How do we do that on a really small level?
Well, I want to tell you the story, "The Tiny Little House that I bought in
Pleasant Grove." That's a city that's two like cities over from where I live. This
was a house that... And I want to share with you exactly how I found this house.
Because I want to show you how you can get this car.
Those little strategy as a tip from me to you. I knew that I wanted to get a
really good deal on a house. And I had money for a down payment because it
wasn't my money. I bought a house before and I could take money out of that house
and I could put it into this one. So, I'm like, "Dude I'm going house shopping
because I don't have to pay. It's not coming out of my pocket. I'm going to borrow
from the house. And I'm going to let the asset buy an asset." Which is really
awesome, by the way. There's a... Should be a light bulb going on. "Aha!" Something worth
writing down. But here, Listen up. This is what actually went down. I called up 10
Realtors. I actually went online and I basically found Realtors or real estate
agents that specialize in finding houses. And most Realtors, they don't know how to
find investments. But I found... I come through hundreds of them and found 10
that used weird language on the website. Like, "I find good deals." Weird language
like, "I've got a discounted property or this is a bank foreclosure." This told me
that they specialized in good deals. I called all of them up. I said, "My name is
Kris Krohn. I got money to buy an investment property but I need to have a
20% equity position." Eight out of the ten said, "You're crazy. That's not possible.
You can't do that." And you know what? Nothing happened. That's really important
that I did that, though. Because it helped me find the two that said, "Sure, I can do
that." And one of them that day, went on to the M-L-S, Multiple Listing Service were
all the houses in the area are being represented by realtors. And they sent me
3 houses. But when I saw this house, I knew that it was the winner. Basically,
was a house that I was going to put an offer in for $150,000.
it was a 3,000 square foot house. So, it had a value at
the time of well over $250,000. Now, for just a
moment. If you buy it for $150,000 and it's worth $250,000.
Dude, I get it. Some of you... I'm going to have some
of you watching this video and you're going to comment, "I'm catching you in the
act." You can be like, "Dude, that stupid. You can't find deals like that." I'm like, "Yeah, that's
exactly why I find them." Because there's enough people like you that think that
way. Don't be that guy. Anyway, so I found this thing for $150,000,
it has a value of 250,000, and guess what I did? I used the hot money from my
other house, I bought it. This house after I rented it out, this house paid me a
$600 a month of cash flow. How cool is that? Friends, do you know what that $600
a month can do? I'll tell you what it did for me.
This $600 a month, I didn't use it for a car because I'd bought a used car and I
paid cash for it. I think it was like, $2,900 car. But you know what I did with
that $600 a month? I actually eliminated my debt. I use assets to eliminate
liabilities. When you have money, you need to understand this. You can either throw
it at your debts or you can throw it at assets that can pay off your debts. By
the time they're done paying off your debts. You're going to have a ton of assets.
If all you ever do is trade dollars for hours and thrown at your debts, then
chances are lots periods of time will go by when you finally get out of debt. You
have no assets. I've always found that I could make more assets and eliminate my
debts than just by focusing on eliminating my debts. I know that that's
controversial and for some people that really messes with them. But I'm not
following society's financial plan. So, the friends are you have it? If you want
to know how to get a... Have real estate buy a car for you, that's how you do it.
If you actually want to know, "Kris, could you actually help me go out there and
find the right kind of deal and take me by the hand and help me?" Check this out.
You know for most people doing their first deal is the most challenging. But
if you can do one, then you're going to want to do 2 and then 10 and then a
hundred and why stop? You get to create a massive financial legacy. You get to do
more than just have your real estate and pay for your cars and everything else
that you want. It can pay for everything and create the financial freedom that
you're looking for. Thank you for watching today's video. If you want any
help with that, all you got to do is head over the
website over here. Go ahead and subscribe and check out some of the other videos
that we've got teed up. It can help you continue your learning in this wonderful
world of real estate.