Do you really need a mentor to invest in real estate? My name is Kris Krohn with
Limitless Wealth TV and today, I'm bringing on a special guest that has
done a lot in real estate and you get her perspective on what it's been like
with and without a mentor.
Alright so today, we have this special privilege of talking to my dear friend,
Annette Aldridge. When I call her a dear friend, it's because in the last couple
of years, we've become fantastic friends. Her family, my family and we actually
just got back traveling from Costa Rica, we've traveled to Peru, Machu Picchu,
we've been on quite a few amazing trips together. - Yes, we have. - But also an amazing
adventure in real estate and Annette started in real estate many years ago
with her husband, Jeff, and really long before we actually got connected but
tell us just a little bit about you, so you serve in the military and tell us a
little bit about that. - I joined the military because of 9/11 and it was a
conscious choice to do something, to make something better in life and my husband
does construction so he's a laborer like so many other hard-working people
out there but yeah, we wanted to own things, we wanted to have real estate, we
know that that's a way that we can do more with our lives than just work for
the money, spend the money, work for the money, spend the money so we wanted to
own, we wanted to have rental properties, we wanted to flip, we wanted to, we
actually want to own a hotel chain so we started this process. When we bought our
first house, what we did is we actually bought two houses at the same time
before the first one here our credit, I don't think you can do that anymore but
we did, we bought two houses, they were both duplexes and yet we didn't know how
to buy and sell, we didn't know the right ways but we did because of my husband's
construction choose to buy houses that needed a little bit of love and a little
bit of work. - And you guys have been very do it yourself oriented, right? - At all time.
- didn't really have mentors, never participated in a real estate program, it
was really just you versus the world and out there making it happen. - Yes, and we
did, we were. - Which by the way, I just want to just say something for all of our
youtube friends out there that are watching this, there's a lot of them that
are kind of shy and timid and worried about what they need to get started, will
you just tell them to just go out and make it happen? - You don't need anything.
Well, I mean you need to do something and want it. I've done so many things in my
life where it's just because that's what I wanted so I figure
something to do, which is what we did with buying those houses. We bought them,
we fixed them up, we figured it out and then we held on to them but we ended up
living with my mom so that we could hold on to them because there were things we
didn't know, we didn't know what you do fix up and don't, we knew how, you know,
how to put in the tile, we knew how to fix the doorway, we knew all those
different kinds of things but we didn't know the things that were giving us a
better ROI, things that we should avoid, the people that we shouldn't should not
get in there. - Well and then, you and I, we met each other like seven years ago and
then we - and we had rental properties when we met you - you had properties and
yet even though we kind of got started, we kind of didn't, you still wanted to
kind of try it on your own before. Well that's kind of like, I want people to
know what's it been like doing it yourself and what's it like when you
actually got some professional help because there's a lot of us that try to
go out there and do it without a mentor and some of us can succeed but there's a
lot of us that put ourself on a much slower track and once in a while even on
a dangerous track without the help of someone that has a lot more experience.
Can you just talk about that a little bit? - Yes, actually we were on a slower
track but we were on the only track that we knew how, we didn't know that there
were even mentors really, we didn't know we had access to that, we didn't know
what else we could do, we knew we could buy property, we knew he could fix it up,
we knew we could rent it, we knew he could make money on and when we got some
more money, we were going to buy another property but that's where we got stuck.
We met him when we were at two properties plus the house we owned and
we'd been there for like ten years and we're like, okay, but we just can't
get past this because we didn't have more money to buy and we couldn't get
another property. - Well, and I think a lot of people get stuck in that where we
can get a property or two but the only way we're going to get more is just by
working harder and saving up money and that is the eternal track, that's the
slow job, that's the one where we, it's so someday oriented and yet there's a much
faster path so what happened when we got involved to accelerate things? - So when I
met him, we actually bought into the program and I thought, well I'm just
going to keep him in my back pocket cause now he's this smarty pants guy who's done it.
- I am smart and I wear pants and I'm a guy that's technically all truth .I'm the
smarty pants. - So it's true, he had made money in real estate so I really wanted
to know what he knew in case I needed it, but I wasn't really ready for and I had
a little ego maybe. - Alright, well no that's fair, that's pretty, all of us
are give you a round of applause and having some some authenticity and
openness about that and you went on for what? Five more years? - Yeah, so we connected,
we bought in, we learned a little bit, we own, okay, we can continue and we actually
did buy another house and sell one house and then we were still stuck at our
glass ceiling, whatever that was and so, what we actually ended up doing was
reconnecting with Kris five, seven years later and we went, oh, wait a second,
he's made millions of dollars in the last seven years, we're in the same place
the last seven years. Hmm.. So we decided to listen a little bit more, we were
actually in a really bad place because we'd gotten a little bit of extra debt,
we had used credit cards to finance some of the fix ups on our houses, we'd
put people in our houses that hurt it and so we had to spend money to get it
fixed back up, we just really didn't know what to do, how to jump to the next level
and so when we were talking to Kris and his team about it, we were like, okay
please, this is what we have. We put all our cards on the table, I mean, I really
actually had a bit of a hard time with it because like I said, I actually did
have ego, I mean I'd invested, I'd done well, I'd made money and so we put it out
on the table like okay, we have this and this, what would you do with it?
How would you use our investments? - Well I want to pause for a second because one
of my favorite parts when people actually click on the link and say, hey I
want a game plan, I want to talk to someone on your team. - That's what we did.
- We can't really promise the stars, we can't promise anything but what we can
do is put ourself in your shoes and say, alright, creating wealth is just moving
assets from low yields to high yields, what are you doing with your money and
are there inefficiencies? Are there things that you could be doing different?
And that's really what a game plan is and so we sat down, we did,
we had a chance to revisit and what did that reveal for you? - I just have to say,
that was the best thing ever, that was so cool
because I didn't know what to do next, I knew I had stuff, I knew I could do stuff,
I didn't really know what to do next and in that game plan, it actually gave me
some ideas. You guys sat down, looked at our stuff and says, well you can do this,
where you can do this or you can do this, what do you want to do? And so we picked
one which was a more aggressive one. - That's kind of more your nature. - Yes,
but it made all the difference to where we are right now, like we wouldn't be
anywhere, we wouldn't have been traveling with you last week if we had not done
what we did with you, if it had not been for your knowledge that took us past
where we were stuck. - Thank you. Let's talk about your last property to
spots. So you went in even though you live in Utah, you actually bought an
out-of-state property, that's something that would terrify a lot of people but I
know that you guys did your due diligence, you even got on the plane,
but you got a fantastic deal. What's the projected ROI on this home in
Florida? - I think was 24%. - Okay, so friends, an annual ROI of 24%, you
can do some basic math on that, 24 times 4 is essentially a hundred percent, this
is one of our, we have cash flow markets, that's what we call our growth
market and we tap into deals like this that we can get great deals on and on
that home, what's the cash flow on that one a month? - The cash flow is just
under $500, seriously. - So you're just under $500 a month, fantastic,
great cash flow by the way on property. - After, even a management fees,
after all the expenses, after everything that we, all the money we've put into, we
get that much each month. So cool. - Wow that is really awesome and tell me
just a little bit about you guys actually you never have to get on a
plane to go check out these properties because we got boots on the ground and a
team of 200 experts but as you can probably tell, my friend here, Annette,
she's pretty careful and and she likes to be thorough so you guys actually went
out and checked out the property? - Yes. - What you notice? - Went to a little vacation in
Florida just because I consider myself with doubting, Thomas and I wanted to
know that what he had on the ground was really what he said it was, no offense.
- That's okay, none taken. - And I was so impressed with the people, I was so impressed
with the people that were there that I actually made a little video that I
posted online and I'm like, hey, these are the people we're going to invest with
and then this year, we did. I know that was the people that helped us to get the
house and I didn't even have to see the particular house that that they did
other than the pictures of it because I knew that what he had said was right and
what they had said was right and so I just like, where do I sign, where do I
sign, it was amazing. - And when when do you think you're going to do your next deal?
- I would do another one tomorrow. - But when do you think it's time though? Like
when in your game plan you going to be buying your next
property? - In January. - January. So just next month. So you'd go tomorrow but you've
got to wait 30 days, I'm so sorry, my heart goes out to you. Just play my little
fiddle here. That's super exciting, it's exciting to be out there to see it
happening and to build your portfolio and to step into the right properties in
to refresh it and you know, investing in real estate, if you look at it over a
10-year period of time, you might only buy one or two houses now but a few
years later, you can catapult that into more homes, by the end, of ten years, you
can grow that into a healthy portfolio of homes for you. What is your biggest
driving why on why you want a portfolio of real estate producing this residual
income for you? What would it mean for you and your family? - It means that I can
bring my husband home from work. My husband works harder than anyone I know,
he works in construction and he works cement and construction. - Yeah, that's hard
work. - And he goes out of town to work to help us have more money,
he works 14-hour days sometimes to help make us money and I don't want him to
have to do that so that we can benefit, I want to have him home with us so we can
all benefit from his hard-earned money. - Wow, so some of the lessons that I'm
extracting from this video is number one, having a mentor is really powerful,
having a team because it's not just me as your mentor, it's this entire team of
experts that can step in. Another principal is, I can really tell from Anette
that she has a reason that motivates her and that's something that you're going to
need anytime you're doing anything in life that you're going to need to stick
with the power, if you need to have that stick with the power, you need to
know your big why behind it but the other thing is that, Anette is an action
taker. Even as the doubting Thomas and having
that moment in life, taking action meant instead of doing nothing
and then getting on a plane and making it happen and interviewing the team
and seeing what that was all about and and, Anette, it's been awesome building a
portfolio with you and you know, if I had to look into your future over the next
5-10 years, I think you're going to be owning a ton of real estate, just
beginning, going to be coming home from work and it's going to mean great things
for your family. - Oh he won't be working anymore.
- Yeah, awesome. Well friends, thank you so much for joining us today. Anette, thank you so
much for coming out for today's video.
Are you ready for
a mentor? Would you like to know what it looks like to have someone taking you by
the hand and guiding you through the entire process? Click up here and learn
about your real estate investing options right now, we'll show you how to do it
just like Anette did.