You see this? What do you see? I see responsibility. You see, I live in a world
where I've done so much real estate. Thousands of deals that people line up
wanting to partner with me. And I can't take all of them on. And
today I want to share with you how I discovered partnering. I want to share
with you how I pick my partners and I want to share with you whose money I
want to work with and whose money I don't want to work with. Because not
everyone is going to make a really ideal partner. So, we just got a back up for a
second. I want to just share with you a little bit about my journey. Because how
I discovered partnering kind of felt like it was on accident. If we backup,
I had bought my first couple of properties. And my father-in-law, I knew
that he had done okay for himself financially. It done well as a business
owner. And also in his career. And so I thought, you know, be really cool if I had
my father-in-law's approval, But when I bought my first property, he thought I
was crazy. I bought my second property, I thought I had lost all his respect. When
I'd done my third property, he was fully confused. And then one day out of the
blue, he calls me up as I'm trying to figure
out how to get money for my fourth deal. My first time I had an amazing deal but
I was stuck. And he called me up and he said, "Kris, tell me about this real
estate stuff that you're doing." And I was taken really aback by it. But I started
breaking it down for him and he started asking intelligent questions. He wanted
to know the numbers. And as he broke it down, I could tell that he was figuring
out the ROI. And I think he could tell what I knew which was that the ROI was
astronomically huge. And at the end of the call he said, "Kris, the next time you
find a deal, how about I give you the money, we do it together." And I said, "Well,
Matt. Guess what? I've got a deal and I need $20,000 and I need help." And he said,
"You know what? We'll go into this as partners. 50/50. And let's go off to the
you know, let's go do this." Well, we did the deal. Made money and then
you know what? Because it worked once, you know my father-in-law said? "Let's do it
again. Let's do it again, let's do it again." We
did it a half a dozen times. And this kind of takes me to my senior
in college. And you got to understand this. I'm sitting there, I've done 10
projects. 7 with him, 3 on my own. It was somewhere right around there. And
as a senior in college, I knew that my goal that year was to get to 25
properties. I wanted to retire if you will by the time I actually got out of
college. And so I knew that I needed to go faster. And as I sat there and one of
my classes, my professor was pontificating and I just thought. I was
getting an A in the class so I wasn't terribly worried. Normally I sit on the
front row. I went to the back row to daydreaming. I'm like, "Kris, you have got
to figure this out. How do you go faster?" You know what? I had this idea. I'm going
way faster than in the beginning because my father-in-law believes in me. And I
thought, "I now have like 10 properties, not 3. I wonder if now other people
would believe in me." And the idea was I need more father-in-law's. I need people
like my father in law that have done well. And I decided to make a list. I made
a list of people that had gone to college, had good degrees. They were
earning powerfully. They were doing well, they were financially, fiscally
responsible. They were saving money. So I assumed that they would have money like
my father-in-law. And I made a list of 4 people that I knew enough of and
about that we would kind of check in with each other and they were curious
about my real estate and say tell me about that. So I decided that week that I
was going to take all 4 of them to lunch. It's kind of one at a time. And as I went
to lunch with them, I just opened up and showed them my 10 homes. And I showed
the first one. We had a good conversation. And you know what they arrived at, "Kris,
I'll give you the money. You do all the work, we'll partner up 50/50." And
then I went on to the next lunch and it was the same outcome in the third and
the fourth. And I was like, "Oh, my gosh. By the end of that week, I had 4 new
father-in-laws-ish, so to speak. So I now have the ability to do a lot more real
estate than ever have. And there's a responsibility that comes with that. My
responsibility, when I take someone's money.... First of all, they never give me
their money, so I never take anything. But there's a responsibility that comes with
this green lettuce. They spent a lifetime building and putting this away just like
on my own money when I invest it. So, when I actually put a partnership
together, there are some things that make that happen. And I want to kind of break
that down for you and I want to help you understand. Because this isn't
a video about my journey of discovering partnering. I want to share with you how
you can leverage this principle. Just this video alone will leave many of you
to talk into moms and dads, mother-in-laws, friends, uncles, bosses,
and co-workers and you're going to partner up and do deals and that's value that I
want to create for you right now. First of all, why would someone actually
partner with me and go in 50/50 if they're putting in the money? Well,
there's a couple of different things that are happening. Tou see I put in an
average of 342 hours per investment property that we do. My time is very
minimal but I have a team behind me that's doing all this. So it's kind of
complicated. The first thing that I'm having them do is I have a team to do
research. Because one of the core problems in real estate why people fail
is because they don't vet enough properties. They take... They have fewer
options and they take the first things that come along. I've got a team that
will come each week through thousands of properties to find 2 or 3 dozen
winners that we're going to make offers on and that we're going to pursue or that
we're going to buy from the auctions. After my researchers come in then I have to
get my acquisition team involved. Those are the individuals that are actually
going to lock down the properties, secure them at the auctions, we're going to work
through Realtors and buy them on market that way as well. We're just fast to get
to the right ones. After acquisition, we have an entire rehab crew that gets
involved. We've got property management, you've got ongoing management, you've got
accounting. When I talk about a team of 200, it is a very extensive team that all
comes together to help do all of this real estate. And so yeah, a partner will
come into the play. And they'll give me a pile of money or
at least the partnership a pile of money. Because then they have expectations. You
see, you need to be careful in how you do your first property and you have to make
it a win because it's part of your track record. And your track record is more
valuable than the money that you'll actually make. If you ever get involved
with partners. So some of you might even be watching this video saying, "Kris, if I
got some money, can i partner with you?" And the answer is I take on partners but
I vet them very carefully. I have a very careful vetting process. Having money is
definitely not enough. You got to have the right mindset, mentality. You got to
have right goals that line up. Because one of
the things that's happening here is I don't do get-rich-quick. My partners
understand that we're going to build wealth for decades to come and the goal is to
double the money every 5 years. Now, most of my properties are going to have
anywhere from a 20 to 30 percent ROI. That's my goal that I shoot for.
That's what I look for. Which means that we can double our money perhaps every
4 years. But that's really kind of the name of the game here is I've got a
system. I have a team and this year with my partners will be buying hundreds of
properties. And it's fun, it's enjoyable, I love bringing the right partners on
where there's that great chemistry. And it's got to be good chemistry
because we're gonna be building wealth for decades to come. It'll help them get
out of their jobs, it'll create their retirement. And I've got a fiscal
responsibility. Now, here's the coolest part of why people partner with me more
than any. And this is where some people are short-sighted and they don't
understand this. Which is if you're making 25% on your money now... Like let's
say a partner put in $250,000, they're
going to earn 25% on that. But then guess what? In 5 years, when we double it,
we're going to double the size of the portfolio and we're going to be earning
equivalent to 50% on the original money. Do you understand what just happened? It
wasn't just about doubling the portfolio, we doubled the earnings. And guess what
happens 5 years after that? Do you know what the real big goal is? I want my
partner's earning 100% a year on their money. That means that
whatever they originally start with in the partnership, then 10 years from now,
we're going to be making that amount of money every single year. And then from
there, over the next 5 years, guess what happens 100%? Turns into 200%
And then it turns into 400%. And friends that's how
you can take a small amount of money and turn it into millions and then tens of
millions of dollars, hundreds of millions of dollars. So that's really how I
discovered partnering and that's what I'm doing today with my partners. And you
know, you might be watching this video and saying, "Wow! Kris, that's super
educational. I need a good track record so I can land partners one day." You got
the message. Or you might be watching this video and
and, "Kris. Dude, I would like to partner with you potentially. What you're vetting
process look like?" And if you know what that looks like,
click the link in the description below. And I have very, very special trained
individuals that will actually get to know you. They're going to do some profiling,
they're going to understand your finances. If they feel like we got a good mix, a
good match they'll invite you aboard. We'll connect and we'll get to go out
there and start crushing and real estate together. Hope that gets to happen. Listen,
thanks for watching this video. I hope it's been very useful for you. You might
hear my kids screaming in the background. Because guess what? It's dinner time
which means it's time to go. So subscribe, ring that bell and I'll see
on tomorrow's video.