Can you purchase real estate even if you're in college? There's a lot of
people that don't know you can actually buy real estate as a college kid. I know
because I developed my financial freedom from real estate investing when I was in
college. Today, we're going to be sitting down with a young man named Ryan. And
he's an Exercise Science sophomore and basically saying, "Kris, I've been
watching your channel. I want to invest in real estate. But what can I do. I don't
have a job. I don't have credit." And I'm going to break down for him 3 juicy
options on how he can make it. Maybe you too.
What's up YouTube? Kris Krohn here. And as promised, I'm actually sitting here with
Ryan. College kid trying to figure out how to become real estate investor
extraordinaire. -Yes. -That right? -Yes, it is. -Dude, awesome. So, Ryan. How long you've
been checking out the channel? -On and off, for about a year. -Okay. -And why is it... What
is about real estate that the intrigues you? -It's just the financial freedom.
It's an opportunity to live life how you want to. To travel. Just enjoy the
things that you enjoy doing. -Nice. Well, what I'm going to be doing today with
you is called a game plan. And it's like one of my favorite games. I'm going to
basically slip myself in your shoes and say, "If I woke up today as Ryan going to
college doing my thing. How would I become financially free? And what would
be my fastest path?" That makes sense? -Yeah, for sure. -Okay, man. We're going to dive right
on in. So, I just gotta ask you a couple of questions first. By the way, for those
of you they're like, "Man, could I get a private game plan with
Kris?" I'll tell you right now that there's a link below. And if you want to
get a private game plan with a member of my team, they've all been trained and
certified by me. And they're brilliant at showing you your options. So, let's see
how it looks like for Ryan. And if you want yours it's in the link below. So,
Ryan. Right now, where are you at in college? -I am a sophomore in college. -Okay.
-I am at BYU studying Exercise Science. -Okay. You excited about it? -Yeah, for sure.
-Nice. And what is it about real estate that you really just fires you up?
-Like I said, it's the financial freedom. I love to travel. I love to be
outdoors, adventure. That's what I love to do. -Perfect, awesome.
Hence, the exercise science. -Yeah. -Get out there see the world, right? -Yeah. Exactly.
-Okay. Do you work right now? -I do. -What do you do? -I work part-time. I kind of
work for myself and for my uncle. He owns a drywall company. And so I do jobs for
him now and then. And then I paint on the side as well. S-o, some painting, some
drywall. Do gigs when you can. -Yeah. It's even really classified
probably as full-time or part-time. Right? -No, not really. Just a job here and a job
there? -Yeah. -And you have any student loan debt? -I do not. -Okay. So, the goal is get
through college without any debt. -It is. -That's admirable. I like that goal. So,
let's see if we can do that. And on top of that, start buying some real estate.
-Yeah, definitely. Now, in Ryan's situation, he doesn't have a job.
And and he's really focusing on school as his path right now. When I work with
someone in college who's also going to school and working full-time, it's easier
to start buying real estate. But even for Ryan situation, there's 100% options on
what you can do. So, that's really what I want to exploit today and kind of show
you what that looks like. -Sweet. -By the way, have you started establishing your
credit? -I have. -Good. Credit card? -Yes, I have one credit card. -Awesome. Get 2
more. -Sweet. -Alright. So, here's what we're going to do. 3 options in today's
game plan that I'm feeling strongly about. First one is cosign. Cosign
basically says I've got a parent, friend, a sibling. Somebody who's actually in a
position to do real estate and qualify with the bank when I can. And I can team
up my credit with theirs and then the bank will add me to the loan and all by
it and I'll be responsible and I'll make sure they get some benefit out of the
deal. -Sweet. -So, if you cosign and find a way to
do that and get yourself into a house, the benefit is you pick yourself up
3, 4, 5 roommates and guess what they're doing now? -Paying the rent. -They're paying the
rent. Plus guess what? There's usually 3, 4, 5 hundred bucks left over.
So, you can actually have them help pay for your college experience which I
always thought is kind of cool. -Yeah, for sure. -When you're out of college, you just can
put a lease option family in there. Sell it to them. And generally on the house like
that you can make some pretty banger money. It's awesome. So, that's one of the
first things is you can cosign. Which means someone else has to credit the
money. On a deal like this for primary residence, 3% down, you're
probably going to need around 4 to 5 thousand dollars set aside. -Okay. -So,
you got to get creative. But now good news is for college kid, if I said, "You
need 40 grand", it's like, "How am I going to do that?" But you know what? 4, 5 grand,
guess what? You can get creative to kind of figure that out, right? If you've done
some side hustles, if you've done some painting jobs, you're thinking, "Well, this
next semester, if I can pick up every weekend a job from my uncle... You know and
pocket that money, I can put 4-5 grand", right? -Yeah, definitely. -So, it's
possible. So, co-signing is... That's a fast path possibility. The good news
about it is that you can be sitting on that positive cash flow 3-5
hundred dollars a month. Okay. Option number 2, how much do you
buy real estate without using your own money and credit to qualify? I in college
use a system called lease option. Lease option is where you specialize in
finding landlords that don't want their homes anymore. -Okay.
Many landlords Ryan are Don't-Wanters, They either thought that they would love
real estate. Became a landlord they're like, "This sucks."
When we don't even want to do rentals with them anyway. You've got people in
inherited property. They're just... People come by homes and then they get stuck
doing something they don't want to do. Landlording is not most people's favorite
job or profession. So, there's a lot of dont-wanters out there. So, you call them
up and you basically, it's simple. It's just like, "Hey, looks like you're renting
your house. I would like to actually buy it from you over the next few years." You
open to that. You're like, "Take this home off of my hands." And they get kind of
skeptical you're like, "Yeah. I'll take care of it. I'll do all the repairs of
maintenance. I won't call you about anything." Now, they want to meet. They're
like, "What is this deal?" -Yeah. -Basically you negotiate to say "You be the bank,
I'll take care of it." And then you sublet it out to somebody else. And instead of a
rental, you do a lease option. They put money down. They pay a premium cash flow
to for the option to buy it. You're the man in the middle. It's called a sandwich
lease. And you get to make that money. -That sounds awesome.
-Okay? Lease option. I love teaching my students how to do that. So, that's
something very viable that you may want to consider. Other than that, the third
option that I wanted to roll with today is what I call partnering. Now, in the
past partnering meant go find someone with 40 or 50 thousand dollars. Convince
them that this real estate is the thing to do and then partner up. And where you
get stuck as a lot of people like, "Dude, you don't have experience. You've never
done this before. Why would I want to like throw so much money in at your
inexperience level?" So, I created a program called maverick. And it's a
specific type of partnering program. And the way it works is you introduce people
not to you as the expert to me because I am the expert. -Yeah. -They look at my track
record, they look at my last several thousand homes. They watch my YouTube
channel. They look at my track record and reputation. They say, "Wow! You're right.
Ryan, this guy knows what he's doing." And if they decide to partner
with me because you refer to my way. Then I take my ownership and I split it in
half down the middle of share with you. Just for knowing people all of a sudden,
you're now doing real estate but you're doing it with no money and you're doing
it with no credit. That makes sense? -Yeah. -This right here is like the creme de la
creme of how do you actually get in the game and freaking crush it. And so, I
wanted to share that. In fact, all 3 of these... If you look at them, for
the most part, they required little or no money. -Yeah. -And they don't require credit
because you haven't built it enough yet. You got a one credit card. You need to
get a couple more. And I would say, if you were working part-time or full-time, that
we would then focus on qualifying with the bank. And you wouldn't need these
people. But what these all share in common is that real estate is not so
much about properties as it is about people. -Yeah. This is a person going in
with you on the deal. This is a landlord that says, "I no longer want the deal. But
you've got youth and energy and you have a plan." And this is someone that says,
"Well, I got some resources. But I don't want to put in the sweat." -Mm-hmm. -And now,
you've got a little something that you can do on the side. That's why I did this
during college because it doesn't take a lot of
time. That make sense? -Yeah, for sure. So, these are the 3
options that I'm seeing for you. And I love all of them. Do you have any
questions about any of this? -No, I don't think so.
-What's it like though knowing that even in your situation where you're at,
focusing on college. No steady career at this point. Doing a couple of side jobs,
what's it like knowing you have 3 options? -It's awesome. I mean, it
gives me a lot of confidence going forward and makes me think that I really
can do this. -Yeah. Well, Ryan. There's a lot more for us to discuss after this. But
for you, you can get your own custom game plan in the link below. Smash the like
button on this video if you did like it so YouTube knows to share it with others.
Thank you so much for watching it. And dude, Ryan. Dude, I'm pumped for you, brother.
-Thank you. -Awesome. Guys, we'll catch you in tomorrow's video.