Welcome back my friends. Kris Krohn here. And today i'm going to be sharing with
you 5 rules that guarantee you'll get rich. First thing that you need to
understand is that making a million dollars is actually very easy. I know
that mentally that's a mind-blowing idea for some people because when you look at
how little we save and how little we get ahead, it just it seems like a lot. Which
is why I've created five custom rules that can guarantee that you will in fact
get rich given a little bit of time. So, let me share with you exactly what those
are. Okay, the first rule is number 1, you have to pay yourself first. Right?
I mean, you now have a job, you're getting paid, you've got this money in. And you've
got to set a certain amount of money aside to guarantee that you'll get where
you want to go. In other words, we need to have something to work with okay? You
can't just spend it all on like a nice car and a nice house and nice stuff and
groceries and bars and going out and blah, blah, blah.
So, the first rule is you got to pay yourself first. And the question is how
much. I'm going to stretch you on this one. But remember, I've got to produce a
guarantee that'll get you there. So here's what I want you to do. I want you
to organize your finances in a manner that you can set 20% of what you make
aside for a very specific purpose, okay? So, that's the first part. And it might be
the hardest part for some people because we have these habits. And most people...
Parkins law says that we live in plus or minus 10% of what we make. And that's
just unconscious living. Right now, we're elevating that consciousness is saying,
step 1, you got to what? Pay yourself first. Yes. Very good, pay yourself first.
And 20% is what you need to set aside. So, readjust your spinning, readjust the way
that you spend money on groceries and stuff and living. And figure out how to
live inside of your means. Which means please spend less than you make. And how
much? I need you to spend at least 20% less than you make. That's rule number
1. Rule number 2, what do you actually do
with this money? Check it out. You're going to put 1/3 into the bank. And you're
going to put the other two-thirds of all of that money into your
investments. What's going to get your rich? It's not your job. What's going to get you
rich is the money that you set aside to actually go to work for you. Now, number
3. What are you going to have this money to do? We're not talking about this money.
This is the boring stuff. This is put it in a bank, put it in a life insurance
policy, put it in a CD. You do whatever you want that helps you feel really
comfortable and sleep well at night. I want... I'm here to talk about what do you
do with this money. You go live your life your work, you take 20% of it, you put a
third in the bank and then you take 2/3 and you put it where? Number 3. I want
you to purchase real estate with at least a 15 percent ROI. Now, not just any
real estate. Real estate convenient, commercial properties or multifamily. I
want you to focus specifically on single-family homes. I want them to be
underneath the median. Okay, the national medians are 230 to 250
thousand dollars. So, in your area, you might have to go to the
suburbs. I want you to go to an area where you can buy real estate for
150, 200, 220 thousand dollars. I
want you to be in that juicy range or under. Single-family and it's got to
produce at least a fifteen percent ROI. That means that if I put in $100,
at the end of the year I would get $15 back. If I put in
$100,000, I would get $15,000 back. Now, I get
it. Some of your like, "Aha, do that Kris?" At the end of the video, there's going to be
a link in the description. I want you to click that. I actually am going to give
you this entire roadmap detailed out in my latest book. You can download it for
free. It's not long. It's very potent and it's just step by step by step exactly
what you do to have a million dollar game plan. Because guaranteeing that
you'll get rich, really comes down to how do I make millions of dollars. It's not a
lot of money but we got to start somewhere. Okay, step 4, you're only
going to hold these single-family homes for 5 years on average. Maybe 3, 5,
7 years. And so what you're going to do is you're going to rotate that
real-estate. And you're going to do that in the most tax advantage way possible so
you don't have to give Uncle Sam lots of money. You're going to use cash out
refinances or refinance means that you can keep the house and pull the money
out which is a tax deferred event. Or you can do what's called a 1031
exchange which means, I sell the home. Don't have to pay taxes. And I roll it
into my next real estate. Because look at what's happening before I give you the
fifth and final step. Live off of 80% of what you earn. Take the leftovers. Put a
third in the bank and take two thirds. And it's time to what? Invest it. Number
3, you're going toi put it where? I want you to put it in real estate this doing
15%. Most people can't figure out how to do 3, 5 or 8 percent. But if
you read the document in the link below, I'm going to break it all down for you how
to do it. You're going to start with single-family homes, below the median and
you're going to rotate it which means we're going to... We're going to control the property.
We're not trying to pay it off. It'll hold it for 3, 5, 7 years and
we're going to swap it. Think of the game Monopoly. I'm going to trade 2 for 4 and 4
for 8 and 8 for 16. And that's what we're doing is we're constantly trading less
for more. You're going to keep doing this until you get to the fifth step. It's
when you have enough money that you want to now put it on a maximum cash flow
play. Which means how much money is my... Am I going to get off this? Dude, who cares
if you're a millionaire or multi millionaire? The question is how much
money does it give you every month to live off of? That's the free income,
that's the residual income that you don't have to work for that comes in
automatically. Let's say you did the system until you had 2 million dollars.
With 2 million dollars then transition it into maximum cash flow properties.
Multi-family other places where you can get 12, 15, 18 percent. If
you're even just earning 10%, guess what? That's $200,000
of income every single year that comes in automatically that you don't
have to work for. Now, having a net worth of 2 million dollars is cool and in
time 2 will become 3 and 3 become 5 and 5 will become 10
million. And eventually, you're going to die. And when you die, you pass that real
estate on and you leave a legacy. And that money can disperse however you
direct it to. That's how you become financially immortal. Financial
immortality is real. It's when you have enough money to leave a legacy. So here's
what's happening. This whole thing is all about the long juicy play. But I want you
to understand that you can make today money
too. For example, in 30 days, I can show you how to make your first $5,000 on your
first deal while creating killer cash flow. And it doesn't even have to take a
lot of money. In fact, some of you're saying, "But Kris, how long will it take
to get here?" Could take 10 years. That just happened.
It could take 10 years. It could take 20 years. It could take 30 years. But I know,
some you're watching this and saying, "Kris, I need it to go faster than that." And
that's why if you click the link in the description, you can actually download my
book for free and I'll walk you through how to do it. But the best part is I got
a special Club for people that actually want to go heck of fast. It's for people that
want to go wicked fast. It's people like me that said, "I don't want to take 10 or
20, 30 years to do that plan. I would call that broken. I got to get
where I want to go a lot faster." Those on the ground are the 5 rules for how
you can guarantee that you're going to get rich. If you want to learn how to do a
lot faster. And if you want to break down to the entire system, click the link in
the description below and I'll walk you through exactly how to do that. Thanks
for watching today's video. You are a subscriber if you are liking this
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average of the people we hang out with. So spend more time with me, watch more of
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just click the link in the description below. We'll make that happen.