How Fast Will They Become Millionaires In Real Estate?

How Fast Will They Become Millionaires In Real Estate?

So… Today, I’m going to be sitting down
with some brand-new partners. And they want to know, “Kris, do a game plan. How
long is it going to take for us to become millionaires?” And so, I’m going to sit down.
We’re going to go through that. And frankly, we’re going to figure it out right now.
In fact, they right over here. We’re moving forward. Buying some real
estate you. You guys excited? -We’re excited. -Why are you excited? -I like the
opportunity to make money without having to work every day for it. -And what is it
you do right now for a living? -I’m a computer forensic examiner. -Okay. That’s
like a total mouthful. What does that boil down to? -I get people in trouble for
what they do on their electronic devices. That’s essentially what I do for a
living. -Are you in trouble for things you do on your electronic device? This man is
now you’re like.. He’s your worst enemy. Okay. But basically, people being naughty
or doing some no-no’s and then you basically prove that they did something
wrong? -Correct. We create timelines, recover
deleted information whether it’s in criminal court or civil court people in
law enforcement agencies hires to find what has been hidden or lost. -So,
that’s what he does for a living. Question is how do we help them get to
that millionaire status, right? -Correct. -Because this is all there’s a
drive here for some financial freedom. Ester, how do we know each other? -We live by
each other. -We live by each other. How cool is that? But before we live by each other, like your husband
was watching me on YouTube, right? -Yes, yeah. And how long have you
been watching the channel? -Probably about 2 months before I met you. So, year and
a half. -So, was that weird when I moved in? -Yeah, yeah.
-Weird, right? But some things are like meant to be, right? -Correct. -So, here’s what
I want to do, guys. I want to basically create a map here. And here’s what I love
to do: I love to basically put myself in people’s shoes and say, “How do we become
financially free? How long is it going to take
and how do I accelerate it?” Like, I feel like those are questions that people,
they ask and they want to know. And the reality is a career will always limit
our ability to have what we want when we wanted as fast as we want it. Because
vocational training, college careers are really all about… Some jobs paid
better than others. But it’s pretty rare to have a job even a good-paying job
that can totally create the financial freedom that someone wants in a working
life. -I agree with that. -So, why were you… One more question. Like,
why are we even checking out the channel in the first place before we even met
each other? -So, my mom does hard money lending. And so, I’ve always had kind
of an interest in real state from that standpoint. -Yeah. -This is
different from what she does. But it is real estate so I was intrigued by it and
that’s when I started watching it. -All right. Well, right now, we’re going to get
financially naked. -Okay. -Which is way more comfortable than naked, naked maybe. On
camera, at least maybe. What I want to do is I just want to map out how do you
actually get where you want to go. And I got to ask you a couple of sensitive
questions to figure this out. Okay? And that question is “What have you set
aside in your working life that you actually want to put into real estate?”
When we had to play with? -We have about we’ll say 160,000 to play with. -Alright. And this $160,000, did it
come from 401K, IRA, savings? Like how did you
save that? Are you just… Are you really good at budgeting? -I wish I
was really good at budgeting. I leave that to Ester. -Okay. -This came from the sale
of my company. -Okay. So, you had a company, you sold it and then right now, you’re
working for somebody else? -Correct. -Awesome. And do you love what you
do? -I used to. -Okay. -I’ve gotten kind of burnt out on it. I
still have a deep respect for what I do and the help that I get to give people.
-But that’s true for everybody. I mean, it’s weird that I can’t believe that our
grandparents came from a generation where it’s like, “You’re going to decide what
you want to do and then you’re going to do that for 50 years and love it all.” I’m like,
you know, you become crotchety when you do something too long. Your
industry is super fascinating. And you definitely providing I think a
meaningful service for a ton of people. But sounds like you’ve kind of… -I would
like to have something else that helps support my family short and long-term.
-Good, awesome. So, $160,000 and here’s the question
today: How do you take $160,000 and what are the options? Like what can you do
with that to actually create the future that you want? That make sense? -Absolutely.
-Mind if I play? Okay, I like to play. Here’s what I know about you: I know that
you have a job. Credit? Average? Excellent? Normal? Average
to slightly below average. -Okay. So, somewhere in that average range
and the question is how do we take this $160,000 and turn this into something
meaningful? So, I’m going to now just basically pretend that I’m you and say,
If I were you guys and I didn’t have any of your rules about money, if I didn’t
have any of your beliefs about debts, good or bad or business or anything. If I
just literally had your assets and your life, question is “What would I do to
become financially free?” So, that’s really that’s what I’m going to kind of
operate from, okay? Before I show you that, I’m kind of curious. If you were
financially free, now, I want you get to ask yourself this question. If you were
financially free, what would you do with that freedom? Like, what would be
meaningful to you? Like, why do you want to become financially free? What
drives that? -You want to answer that first? -Sure. I want to spend more time
with my husband and my family. Go on trips that we’ve never been able to go
on. -For kids, right? -Yes. For kids. The time is the big one for me. -Okay. -More
time. -I get that. You know, it’s interesting that at one point your life,
like the more money, the more better. And then another point in life, the more time,
the more you know more better. And at one point, the more health, the more better.
And so, right now, time is the big priority. -Yeah. -I totally get it. I got 4 kids,
you know that. So, like time is that thing that I value.
And if we want to get our time back, we need someone to still work for
us. And right now, it’s “How do I make this work for me so I don’t have to work for
me?” And how do I create other businesses and other ventures? And how do I
basically create leverage?” This is the one thing that most people are not
really like concerned with that they should be. Everyone is trading their time for money. And when you had your own business, you actually built the
value. You got to sell it. And that value said, “Wow, I actually built something more
than the money I got paid because I had leverage.” So, we want to bring this
leverage back in your life. So, $160,000. What goes through my mind is
I start seeing a bunch of 20% down payments on some of the sexiest real
estate in existence. Now, you guys know that out of the last several thousand
deals I’ve done, my expertise is an averaging 25 to 30 percent annual
ROI. It’s easy for me to produce but it was really hard and costs 10 million
dollars so figuring out how to do it. Needless to say, it’s now I’ve got a
machine of 200 experts in place. And we buy real estate every single day
and we know how to make it real simple. So, here’s what it looks like: On average,
I’m setting aside about 35- 45 thousand dollars to put
towards a property. And what this represents is a 20% down payment.
That’s where Bank will say, “We’re going to take your job, you’re your average credit
and now we’re going to allow you to basically buy a property.” If (by the way)
credit has any kind of glitch… I don’t even need credit to buy real estate. But
we only go there if we need to. I’m going to keep it simple or sturdy, right? -Okay. -I’ve
got millions of like just endless like where-do-we-go, if-and-then sequences
because it’s like real estate is built around, “No you can’t, no you can’t.”
In fact, it’s cool that you have a mom and real estate. Most people don’t
believe that you can make money in real estate. A lot of people think it’s a scam
or you’d have to get lucky or you’d have to have the right timing. Reality is if
you know what you’re doing, you have a good strategy is super viable. So, if
40,000 can buy a house and if this is a 20% down payment and this
house is earning me 25% a year
then there’s really enough here to actually buy carefully 4 of these homes.
Now, here’s the thought process: If my money is earning 25% a
year, how many years does it take to double? -That be just under 3. -Yeah. So
25, 25, 25, 25. And with it compounding, it’s right around just a little over 3
years actually. But then when you have selling costs and there’s some other
things. So, me my goal is always “How do I make my money double every 5
years?” A banks money, if I’m earning 1% takes like a lifetime to double. If I put
money in a 401K or in 3 or 4 percent, it takes like 20 whatever years
for it to be able to double. So, like if I can double my money every 5 years, I’m
happy. Like… I’m like, “Okay, that will accelerate and can build to something.” So,
the goal is if we put this on a timeline, 5 years, 10 years, 15 years, 20 years. If
we start right now with 4 homes, then in 5 years, the goal would be for what?
-Have 8 homes? -The goal be for that to turn into 8 homes. And then in 10
years for that to become 16. And after that? -32. -32. And
after that, 64. -So, here’s the good news. Real estate with time, a small thing
always becomes a really big thing. You guys are still young. So, you know, I think
it’s important to have a 20-year plan, a 30-year plan, a 4-year plan. But you
want to have financial freedom way sooner than 20/30/40 years. So,
you have to stack some things in addition to this. I think the first
walkway and then I have 2 more ideas for you, the first walk away is just
understanding (1) you can buy real estate. You have the ability. And if
whether that was sitting in a 401K, IRA or from the sell of a business. Every one
of us should be concerned with “How do I make my money work for me so I don’t
have to?” When these multiply… You know, what
happens when you have 32 homes and if you focus on cash flow at the
time and you’re making 4 or 5 hundred dollars a house and you have 32
of them. That turns into a really sexy cash flow. Right? So, step 1 is to
basically like… Step 1, get your money on track. Now, we have an ultimate goal of
what you want that to do. But before we can even focus on the goal, there are
other things that you can do to actually accelerate this. So, for example, you
mentioned your mom is in real estate. She does hard money. -Correct. -Do you know what
kind of interest rates are interesting to your mother and hard money? -12 to
14 percent. -12 to 14. How do you think she
would respond to 25? -She’d be pretty excited about. -Would she be
excited about it? -I think so. -Most investors are. In fact, most people that
are usually only earning 3, 4, 5, 6, 7 percent. But if she’s even
earning 12, you know, the idea of earning more than that… If someone had
that option, is there a chance she might want to diversify and get in on some of
that? -I think so. -Yeah. -But you know what? She’s
family. So, you know family always says? Well, I’m going to like, “You do it first.” And
I’m going to see if you fall on your face. I mean that’s just kind of… -Sure. -But if you go in and you start building this track record… Not just your
mom but other people, then you start on saying, “Wow. How do I do that?” And so, I
think if step one is get your money on track, then when I look at step 2… Step
2 is get OPM which stands for Other People’s Money. Get OPM on track. So, this
is all about actually… Yes, this in time is going to create the freedom that you
want but this is actually about you basically getting yourself on track. And
once you have a track record, that’s when other people basically say, “How can I get
in on that?” And there’s ways for you to take advantage of that. There’s a way for
you to basically say, “Here’s our track record. This is what we’re doing with our
money. See that it’s working.” And then you can offer doing something similar to
them. And there’s a way for you to win in actually providing that for others. That
make sense? Do you have any questions about that? -No.
-This is the accelerator. -Yeah. -And then the ultimate accelerator is business. So,
when you have your own business… Most people when they find a business just
find another job. So, they’re just working another 40/50/80-hour week thing trying
to make money. I look for businesses where my job is to actually become an
owner versus an operator. Do you know the difference? -Yes. -Yeah. -What’s the
difference? -Operator, you’re married to that business. And owner, you own the
business and other people operate it for you. -You 100% get it. Which side do you
want to be on? I want to be on the owner side. -And by the way, when you sold your
company, were you an owner and operator? -I was 125% operator. -You’re the 125% operator. And by the way, was it a profitable business?
-Yes. -Which is why you could… Which is why you could sell it for a profit. If you could set up… If you could snap your fingers and set that same
thing up again. But instead of being the operator pay someone to be the operator,
would there still have been pro leftover profits? -Not, really no. -So, in that
particular business, it didn’t work very well. -No. -So, your goal
is to find a business where you can pay to have other people run it and guess
what it still has? -Profit. -It still has profit. So, this is
a huge accelerator right here and this is a huge accelerator. So, these are my biggest financial beliefs which is number one, be really good at paying
yourself first, save money so that you have money to invest. You’ve done that.
Then you get it on track and get it earning for you. Keep saving your money
in the mean time so you can put more in. And then in the mean time you
develop a track record and you start saying, “Hey time is the thing that makes
all of us equal.” We all have… We both… You and I have 24 hours in a day. But if I
earn more than you and that same 24 hours a day, it’s because I have more
leverage than you more than likely. And so, all of us should be asking, “How do I
get more leverage?” So my friends, this is first of all like meeting one. And
we’re going to track your journey here. This is the good news for you. The good news
is, “Dude, you’ve got the ability to plow, move forward and get in the space of
real estate and dominate.” You excited? So, do you have any questions? -I don’t. Up top
of my head, I don’t. -Okay. When we sit down again next, what we’re going to do is we’re
going to jump into the: Alright, how do we like set this thing in motion and make
it go. Because what we have now is a game plan and it’s rough. It’s… We have money,
let’s get it put to work. And then we’re going to start multiplying it and then
we’re going to focus on those other accelerators. So, when we get again,
get together next time. For those of you tuning in, we’re going to go ahead and learn
more about Trent and Ester and their journey of what it is they’re going to
do to actually take their next steps to actually owning real estate. Hey, thank
you so much for joining Trent and Ester on their journey of trying to figure out
“Wow, we’ve heard about this whole real estate game. How do we get in?” There’s
going to be more videos coming up where we follow them on their journey and
figure out does it totally like blow up? Is this good? Is it positive? Is it negative?
I’m going to show you what I’ve done with thousands of other people. And I hope it
inspires you that you can do the same. Step 1, though. It always starts with a
game plan. And some of you were thinking, “I wonder what my game plan would be
if Kris Krohn sat down with me.” How do I get that dude’s formula. I’m going to
make it super easy for you. In the description below, there’s a link. Go
ahead and click that and you can actually submit your name and phone
number to talk to a member of my team certified by me and how to deliver your
custom financial gameplan. If you want to know what your wealth plan is, if you
want to know what it’s going to take for you to become financially free, become a
millionaire or a multimillionaire; all you got to do is click the link below.
Talk to my team and they’ll break it all down for you. Thank you so much and we’ll
catch you on tomorrow’s video.

9 thoughts on “How Fast Will They Become Millionaires In Real Estate?

  1. Kris I’ve got a full understanding on your game plan and I’ve made my own game plan on all the knowledge I’ve gathered between you and a few other YouTubers but the problem is I’m 16 and can’t afford to start my business idea … I can’t wait till I can afford to buy my first house and change my idea to reality

  2. I am 18 years old and wanting to begin investing in real estate using family as my credit buyers. This channel has helped me so much and I am preparing to invest in my first property next month. How do you feel about investing in condos? Has leasing condos been successful for you? there are many condos in my area that appear profitable but I worry that lease option might not be as appealing on a condo in comparison to a single-family home

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