Where To Start In Real Estate
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Where To Start In Real Estate


Where do you get started in real estate?
Well, I think it actually depends on who you are and where you’re at.
Some of you have never bought a home before. Some of you got some retirement
funds and you want to figure out how to put them into real estate. And some of
you got absolutely nothing. No money nothing going on. And today, I’m going to
share solutions for all 3 of you. Alright, let’s get started with those of
you out the gate that are saying, “I don’t know where to get started in real estate.
But I have never bought before.” If that’s me, then I’m thinking, “This is the advice
that’s perfect for you.” The first home you buy, you actually want
to buy a home and a house. A home is a place that you live in, a house as an
investment property. Let it actually double serve and here’s why. If you buy
that house and you only live in it for a short time, guess what you can do? You can
actually move out and turn it into an investment property. I highly recommend
doing this. So for you to get that first house, what are you going to need? You’re
going to need a small list of some things. Number 1, you’re going to need a job that
you can hold down for at least 2 years. Or if you’re in college, when you
graduate, the banks will count all of your years of working on your degree
towards actually work history. As long as you get a job in the same degree in the
same profession. So basically, 2 years of work history. The next thing that
you’re going to need is 3 credit cards. You actually need to show that you for
2 years have been responsible with 3 different revolving lines of
credit. I don’t care what the credit cards are, I don’t care what their terms
are. Get them and pay them off. You know, use them and pay them off. So if you’re
just using groceries, the reason want you to keep and paid off is you’re not
allowed to fall into a trap where you accidentally start thinking that the
money on your credit card is money that you can spend. That’s a no. And then the
third and final thing that you’re going to need is you’re going to have to save up
3% for down payment. And if we’re talking about a hundred thousand to two hundred
thousand dollar house, we’re talking 3 to 6 thousand dollars. So I want
you to figure out how to save up a small modest amount of money. Now what do you
do if you have two years of work history? You got 2 years on 3 credit cards
and you’ve saved up 3% on a down payment for a home? Then what I want
you to do is that want you to buy a home that’ll
make a fantastic investment. But totally meet your personal needs for what a home
would be. What do I mean by that? I want you to get a discount. I want you to get
a good deal on this home. I want you to buy it intelligently. So that if in 12 or
24 months you move out, guess what? You could do the whole thing again. I mean,
listen. If you’re not too tied down and you’re not bogged down by the moving
thing, in another year to, go buy another house. Live in it and then move on. Guess
what? You’ve now got 2 investment properties and you came what 5 grand
out of pocket on each one. And if you do it right where you’re making fifty
thousand or a hundred thousand dollar gains in the next few years on these
homes, dude you have set yourself up pretty. Now, if you don’t know how to do
that, click the link in the description below and talk to my team and they’ll
walk you through how to do that. So that takes care of number 1 for those of
you that have some money, you’ve got retirement funds. See, if you’re saying, “I
want to get going in real estate but I don’t really know where to start. I’ve
got maybe some money in a 401k or an IRA or an annuity.” Maybe you’ve been working
on paying your house down or it’s gone up in value. So you have some equity. If
you have assets sitting anywhere across the board then your specific game plan
is to focus on putting 20% down payments on a fantastic investment property. Okay?
What you’re doing here is you’re shifting money from one asset and you’re
putting it simply into a different asset. And here’s the intention. You want to
shift your money from a low-yield asset and put it into a high-yield asset. So
French economist J.B. Shea. He’s known for saying that building wealth is just
nothing more than moving from low yields to high yields. So in the game of real
estate, listen, 401ks and IRAs? A lot of them only
doing 3 or 4 percent. Guess what inflation is? 3 to 4 percent. So
guess what? You’re like… You’re like making nothing. Until you’re making over
3%, you’re really making nothing on your money. You’ve got to figure how to make 6%, 10%, 20%, 25%. 25% can you do that? If you have funds set
aside in retirement and you want to know where to put them, then what you need to
do is you need to go out there and find really good deals and put 20% down. so
house is worth $200,000 and you can buy it for $170,0000 or maybe it has a ROI. You got to put 20% down. Might be 30,
40 grand. And boom, you’re the owner that home and its cash flow and its growth
and you’re off to the races. Now, before I move on to the third category. For you, if
you have some assets in 401k or IRA, you can either watch my videos and set up
your own system but I have a team that finds me the very best deals in the
country and we’ve got too many right now. So if you’d like to actually check out
my inventory and see if you can get your hands on some, then also click the link
in the description below and talk to my team about that conversation and say, “Hey,
I’ve got some funds in 401 k, IRA. Kris said that he might have extra deals. What
does that look like?” Okay, third. You got no money whatsoever. This is my favorite
category. You know, if you got money, yeah you can invest in real estate.
First category save up a small down payment? Yeah, you can get into real
estate. But when you’ve got nothing going on for you and you don’t got the money
or maybe you’ve ruined your credit or you don’t have credit or you haven’t
developed credit, you’re thinking to yourself, “I don’t want to do category 1
or 2. I don’t want to have to go work 10, 20 years at a job or 5 years and save
up money. How do I do it you did Kris? Like how can I start investing right now?”
You know, I say this time and time again. But I feel like I need to keep repeating
it because it falls mostly on deaf ears. Real estate is not a function of how
much money you have. It’s not a function of your credit. It’s a function of people
and solving problems. So in the game of real estate, it’s how do I provide value.
How do I create solutions. And it does not take money to do that.
What it does take is knowledge and know-how and most importantly, courage to
act. That has made me millions of dollars. Now, I’ve got all this money. But guess
what? I still can do as much real estate as I want. Whether I’m using my own money
or not. Why? Because of knowledge and because of
courage. So, I want you to just understand first of all, whatever your financial
situation. If you just… If stars aren’t lining up for you, if you don’t have a
lot of resources going for you, I get that. Because I started poor, broke, deeply
in debt, broken mindset with the low degree of confidence. I just… I had enough
courage to act on the information my mentor gave me.
So, if you’ve got no money and you want to know where to start,
what you need to start with is a mentor. And a mentor, I want you to look in the
community for an individual that has experience first of all having done lots
of real estate deals without using money or credit. Those 2 criteria. Now, they
exist. You can actually… If you just get the word out there. Going to your
social media and start asking around, you’ll start finding people locally in
your area that will meet that criteria because we’re everywhere. And if you have
trouble finding a mentor and you ask and you’re thinking yourself, “Man,
I wish Kris could be my mentor.” Well, I do that for some people. But only for
action takers. So you could also click the link in the description below and
when you talk to my team, I want you have a different conversation. Because this
person’s going to say, “I want help finding a really good deal on the home I’m going to
live in.” And this person is going to say, “Well, I want to get amazing deals and
transfer money from the wealth I’ve already created in my retirement plan.”
And for this individual, it’s, “I got to find a mentor that can give me the
knowledge that can help me get my start in real estate.” That’s what you need to
focus on. So you just have those conversations with my team, they’ll break
down you some of your different options and the options might not work for you.
They might not be good for you. And that’s okay. You would need to know that.
Because we’re not good for everyone and everyone’s not good for us. But more
importantly, it’s you taking action and doing something. What is created wealth
for me over the years has just been the ability to put myself out there and
every day I take action. Every day I expect myself to be better than I was
the day before. So whatever you do here at the end of this video, make sure that
you take some kind of action. In fact, the smallest action that you could actually
take is actually just subscribing and ring that bell. Because I’m I can notify
you every day the moment our video comes out so you can at least see what the
topic is and if it’s going to serve you, watch that video and learn and get
smarter. Getting smarter learning and growing, that is a form of mentoring. And
that when you click that subscribe button, you’re basically saying, “Kris,
help me understand more of your world on how you’ve created all of this wealth
for yourself.” Because remember, the hills are alive with the sound of real estate.
And they are available to you and to me regardless of where you’re at. So friends,
whether you have money, retirement funds, no money,
young, just starting out, poor, rich. Doesn’t really matter. Real estate doesn’t
care. Real estate however can work entirely for your good.
So, subscribe, ring that bell to see on the next video.

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