Today I got a special treat for you. I've invited a close friend of mine that has
bought a lot of real estate to share what she's learned about hidden assets
and also hidden strategies.
Alright, I'm sitting here today with the amazing Wylene Benson. Wylene and I have
now known each other for a number of years, we've done a lot of incredible
things together, we work quite closely on our belief breakthrough project through
limitless but Wylene has really done something very impressive in real estate
over the years. One of the really highlight today in this video, I want to
talk about hidden assets and I wanted to talk about hidden strategies because
Wylene had her experience in real estate before she kind of came our way and
that's when really the table's turned and everything changed. So Wylene, first
of all, thank you, thanks for being here, appreciate you. - Yeah, you're welcome. Thank
you for inviting me. - Do you mind sharing with everyone here today on our
video just maybe a little bit about what real estate was like before we got
started? - Yeah, my husband and I had done a little bit of real estate before we
found Kris' team and we had a little bit of success, what we thought was
really great success, you know, maybe $15,000 here, $10,000 there but we
made some mistakes too. So we purchased a property that was
above the median price range and I know you have a video about that and we
knew that was a mistake but we kind of, our hearts got involved and we're like,
oh, this is a beautiful house, we really want to fix it up and got emotionally attached to it.
And so, we spent a lot of money,
a lot of time fixing this house up and then when we put it up for sale, we
couldn't sell it and we even put it up for rent, we never had one person kind of
look at it. - How long did it go vacant for? - It stayed vacant for two years.
- By the way, if you had a property and it went vacant for two years, you can
imagine what kind of mental mindset drama might be playing out. What was that
like for you and Clint to have done some properties, made ten thousand here,
fifteen thousand here, but now all the sudden, have dumped a lot of money and a
big project that you were emotionally invested and it sits vacant for two
years? What was that like? - It was stressful. I also felt a lot of gratitude,
a lot of credit to that we were able to make the payments and still able to make
our own house payments we didn't that actually lose the property. - Which is
great cause a lot of people in a situation like this, they might go belly-up and
just say I'm done with real estate, I had a bad experience, I had a bad experience that
soured my experience but you guys stuck with it, right? So you had dabble
in real estate, after you had finished you know that property, what did you kind
of decided about real estate general before that? - When we finally
sold the property, we actually did end up making a profit on it so it turned out
being a good experience but we got totally out of real estate for probably
about ten years. - Okay so that was that you fled from the real estate? - Yes like,
okay maybe we're not quite as smart as we think we are and so we did other
things, you know, invested our money in other things and just kind of made the
decision that we just weren't going to be investing in real estate any more until
your team was presented to us. - Yeah, so there's a lot of people out there, I call
this mom-and-pop shop, where you're out there, you've read some books, maybe
you've been to a couple seminars, right? You learn some things and you have
enough knowledge to go out there and be dangerous and you make some money, you
lose some money and you get to experience the full gamut. You can do
really well in that atmosphere but there's a lot of people that don't do
well and ultimately, what it can result in is taking a vehicle that is powerful
enough to create financial freedom but have it actually sour enough the
experience where you feel, wait, I'm way too alone in this. I don't know what I'm
doing. So what I want to do right now is I want to you know, obviously after we
met, things really got shaken up. First of all, what was it about meeting the team
that said you know what? After ten years, I think we're going to jump back into real
estate. - I think what probably changed our minds was we sat down with you. I know
everybody doesn't get a chance to sit down with you personally but that was
something that we experienced and you were able to lay out on paper a way that
we could use some of the assets that we didn't know that we had access to and to
be able to use those to buy one property then turn that into two, turn it into four,
turn it into six and to continue to grow using some hidden assets that we didn't
know that we had. - Because today, you guys actually have - almost six, we're in the process of buying
- so you're buying your sixth property right? And do you have a plan for buying
more? - Yes, ten is our goal. - Okay, ten. So you're over half with your goal, that is
super awesome. So I want to just eliminate this conversation for a moment.
What do you mean by hidden assets? - We had some money in 401k, we had some money in
the stock market and we had some money in an annuity which, you know,
traditionally, you can't take money out of those things without getting hit with
some penalties but we had a unique situation. My husband was disabled and we
didn't know, we didn't realize that that's one strategy that you can use. If
you if you have a disability, you can
actually take money out without penalties so those were things that your
team actually brought to the table and we're like, wow, we have no idea. - I do want
to ask this question, in hindsight with what you've done in
real estate, if you had to pay a penalty to get it out would you have done it?
- Oh yeah, for sure. - Okay, so this idea of hidden assets, part of what's fascinating
is there's a lot of people around the world that take money and we're told to
put it into retirement plans or we're told to put it in the market, we're told
to put it in equity in our homes and never once do we feel like we have this
money because it's not in our bank account, it's not accessible. In fact,
we're taught don't touch it, can't have it, penalized if you do, there'll be taxes,
all these things so in our minds, we just come to grips with, well I guess
it's there for maybe someday but that day isn't now and that's what we really
mean by hidden assets because these monies actually can be put to use and
whether you have these hidden assets or not, first of all, there's a good chance
that you do have hidden assets, hidden credit, hidden abilities but there's also
hidden partnerships and hidden knowledge that can open doors and real estate that
you may not be thinking about. There's not a person on this planet I can't help
buy real estate with. I don't care if you've got poor credit, no money, there's
still a way for you to do real estate as long as you have the drive and we're
going to uncover hidden things whether it's money, time, talent, resources that can
make real estate possible and I want to talk also about hidden strategies. What
is it that we were doing different that was very enlightening for you when you
compared to your old experience? - Well, one of the things that we really thought was
only possible was for us to do it ourselves. One of the strategies that you
guys presented to us was partnering and we actually did partner on our first
property. We had the money to be able to put into it but a partner was presented
to us and we're like, you know what? Why use their own money if we've got
somebody that's willing up to put up the cash? - So you got into real estate not
necessarily even using your own cash? Yeah, our very first property, we didn't
spend anything, we just used our credit. - Awesome. - The second property, we did the
same thing but the person who came to us didn't have the full amount of cash so
we kind of partnered on the cash. - So you did some money? - Right. So we only had to
invest $12,000 and the partnerbrought the rest. - Just for a moment, I
want to invite you to think about that for a little bit. So Wylene, as she's
sitting here today, she's in the process of buying her sixth
property and you've got to plan this next year for your seventh property,
right? You got one that you're - At least. - Yeah, so they're really on the move but
notice that out the gate, one of their hidden assets was their credit and they
didn't even use money on the first deal and on the second deal, they use some
money, not all of the money. What I love about these private game plans that we
conduct for people that often Steven Miller, my business partner, is usually
doing and some other people that we've trained is that it's all about sitting
down and saying, hey let's give you a different perspective on your finances.
So you you talk about having a team that came to the table that brought a
lot more comfort but let me ask you, I mean, did you really trust a team at
first? - It was a little bit hard to trust because of the experience we'd had with
real estate and you know, doing what we thought was right and we still had
mistakes and so we thought, how can bringing on somebody else really make any
difference but we found out really really fast that the experience your
team had done, you know, hundreds of properties where we'd only done three or
four and so it just, it really made sense to put an element of trust in there just
to test it, you know, just to try it out and it was very quickly that we found
we could easily trust. - Awesome, Wylene. Well I want to just ask one final
question here for today's interview. We can talk about hidden assets, we can talk
about hidden strategies. Now that you've had, it's been five years now of investing?
So five years of this successful investing got your six property under
way, you've got plans for more this year, if you could share a message with those
watching this that are really new to the game of real estate or maybe like you
had been burned in the past by real estate, what encouragement would you give
them? - Actually, I want to share a real-life example that is happening
right now that kind of shows the benefit of having a real estate
portfolio and maybe the dangers of not trusting, of not moving forward. My
husband's mother passed away a year ago and in her trust, she left instructions
for us to pay a grandson who has some disabilities, $500 a month for as long as
the money lasted. So she gave us a certain amount of money and probably
about 2 or 3 years before she passed, my husband went to her and asked her if we
could use that money to buy a rental property that
if we can invest in a rental property, that he would have the house, could build
the equity and that he would have the rental income coming in every single
month. She had the cash to be able to buy a property free and clear and to have
that. She was too afraid to take the chance on that, she felt like it was a
risk and she felt like it was much better just to keep the money in the
bank and she's only been gone for a year, we've been fulfilling on her wishes and
my husband just looked at the balance today and it was only fourteen thousand
dollars that's left. - So it's almost gone. - So it's almost gone just, you know, a
couple of years from now. - What a powerful cautionary tale because had the money
been used by a property that could pay four or five hundred dollars a month,
that property could exist for a long time and instead of having a one or a
two year benefit, it could have been a life long benefit. - Exactly. - Thank you for
sharing that. When you look at that real life story in your life today and the
tragedy that it is for her, for the lasting wishes that she really wanted
for this grandson, how does that inspire you to treat your portfolio maybe even
different today than you have in the past? - It really makes me think about my
kids and future generations and not only creating a wealth portfolio to be able
to pass on to my kids but a wealth of information, a wealth of knowledge, wealth
of wisdom in how to invest your money in a way that it continually perpetuates
itself, that a way to become financially free rather than just, you know, keeping
the money altogether into an account which is what we were doing before we
you met your team. We were just saving up and hoping that would be
enough and now we're getting ready to sell the first property
that we bought with you and we'll be able to turn that into another one and
so we're in a position where we're beginning to perpetuate that income.
- That is so beautiful. Wylene, I'm so proud of you. Thank you by the way, you were
touching some heartstrings here today. I know I'm feeling that like, wow, what a
beautiful reminder in to what freedom really means and so often we get
caught up in financial freedom but subtract the word finance there and
it's about freedom and it's about using real estate as a tool a great tool to
create value in the world and at the exact same time, create more
opportunities and more freedom in our own lives
for the lives of our loved ones so it sounds like you're building up something
really powerful of legacy that you can leave with your children beyond money
and I want to thank you for taking the time to share all those precious nuggets
with us. - Thank you. - Thank you. Wow, that was a lot more touching of a video than I
thought we were really going to produce. Wylene really brought a very special
message I think for all of us here. Thank you, Wylene. For every one of you
watching here, hope you know that ultimately, I'm here dedicated to helping
you succeed in unlocking your real-estate potential so make sure you
subscribe, make sure that you're a member of the channel here and if you'd like to
personally work with me and my team, if it's time for you to produce results
like what you saw Wylene do then make sure that you also click the button up
here where you can view our our website and learn some of the different options
about how we can empower you to succeed in your real estate venture.