Welcoem to posts!!
in the future - u will be able to do some more stuff here,,,!! like pat catgirl- i mean um yeah... for now u can only see others's posts :c
We had an amazing Landlord training yesterday w/ my friend and property manager LaKesha Kirkendall. She broke down how she goes about getting a great tenant for her over 200 rental properties she manages. If you missed it, here's the link 👉youtube.com/live/pynXlhxcIOg
So today is all about our landlords that are getting killed out here from tenants NOT paying rents. I know exactly what you're going through because I used to be you. It wasn't until 2010 when I decided enough was enough and I got some real training in this game. Tenants were robbing me blind and I'm thankful I was able to survive and tell you about my mistakes.
Let's stay you have an applicant for your rental property that is turning in an application. They insist on moving quickly because they have to move into your place today or tomorrow. They have the first month's rent and the security deposit cash in hand and have their stuff packed ready to move. They offer you the money right now and you're thinking about your mortgage payment and all the bills stacking up from an empty rental property. How do you handle this situation regarding moving forward with them taking your rental?
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HAPPENING TODAY AT 4PM EST! My friend and property manager Lakesha Kirkendall will break down her strategies for attracting the best tenant for your rental property.
👉Set your reminder to join us youtube.com/live/pynXlhxcIOg
We released a video this weekend about the Lifetime Value LTV of a customer. I did a deep dive explaining how our industry is in an extreme category of it's own. Real estate has it's own category simply because most people won't have multiple houses to sell you in their life time. Usually after you buy a house from a seller, they won't have anymore houses to sell you, EVER! Now, I understand there are exceptions for this rule. Every once in a while, you will have a seller that has several houses they can sell you over time. They may be a landlord that will sell multiple houses to get out of the business or move the money to another property. Or you may encounter a person that inherited many houses and will sell you several but it's hard to build a business around those few unique situations. In fact, when I look back at my career, I can only remember a few people that came back and sold me a house more than once. I would NOT want this to be your main way to get deals.
So, generally speaking, after we've purchased the house from our seller, we will NOT have any other way to provide value to them. They generally speaking ,will NOT have any more houses to sell us. But thanks to my brother, he reminded me there is another way we may be able to buy multiple houses from the seller we've already done business with. From the answers below, how is it possible to buy another house from a person we've already bought from in the past?👉Make sure to join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b…
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It burns me up real good, when my community spends a ton of time "playing" business, instead of actually doing things that will move the needle and make money. I get calls all the time from wholesalers asking me what my "buy box" is. I just learned a "Buy box" is the criteria of what a cash buyer is looking for in a house. The fact is, true and savvy investors can take almost any house and turn it into a deal. It doesn't matter if it's a vacant lot, a 2bdrm, or a 3bd, or even how many bathrooms are in the property. The only thing that is of concern are the numbers.
Now, I'm saying all that to make sure YOU are not spending time 'playing' business because so many of us are actually wasting precious time when we could be investing it on activities that will move us closer to a check. So, from the answers below, which activity do you think is NOT considered "playing' business?
Don't miss THIS MONDAYat 4pm EST, my friend, Lakesha Kirkendall, is a Property Manager that manages over 200 doors will show us how to get the BEST tenant for your rental property.
👉Set your reminder youtube.com/live/pynXlhxcIOg
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It has come to my attention that most landlords, especially NEW landlords, have NO IDEA how to screen prospective tenants to move into their properties. Having conversations w/ dozens of landlords, I recognize it's time for me to commit some effort into helping them stay in business. Since there's only a few places landlords can go to get empathy and any type of training, let's focus on getting the best tenant possible.
It's strange as a new investor, I noticed people were extremely happy for me when I was just starting out. I'd have neighbors and friends congratulate me for being an investor. It's ironic, because when I heard these congratulatory praises, I thought I was really doing something. These people had no idea I was only getting $80-$100 a month cashflow after my monthly mortgage was paid. And we all know with cashflow that low, it really means I was losing my shirt on those properties. Back in 2006-08, my tenants were the worst. I had no skills in screening or even how to manage the horrible tenants I had. I consider myself incredibly lucky and blessed to have survived that part of my life(and get to speak about it).
This is why I don't want you to go through the same MESS I went through dealing with terrible tenants. They can really do some serious damage not only to your property, but to your mental health as well. So, look out for training in the near future where we'll be showing you how to get the BEST tenant for your property. Which brings us to our QOTD for today. When you have an applicant for your property that is Self Employed, how can we verify they earn enough money to actually pay the rent? Remember, we usually require about 3X the monthly rent to be their income. But in this situation, there is no W2 to verify.👉Make sure to join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b…
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Out of all the titles people place on us, there's one that really stands out above the rest. Yes, being a dad is important and nobody gets here w/out good old dad. But, I've learned there's a more important title that comes with being a dad, and that's being a good PARENT.
You see, being a parent is defined "as one who nurtures". It's no easy task to make sure our kids grow up and have the tools to be successful. I'm grateful for the honor to rise to this task. We can all do our best to be great parents!!!
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I'm taking time to once again thank you for giving me your attention. As I'm approaching 24 years as a full time Entrepreneur, my commitment to helping you gain financial success remains steadfast. In a conversation w/ my therapist today, it came out that I have a weird relationship w/ money. We were talking about me buying a new car and I told her how I feel guilty for spending money on myself. It's a terrible place to be working all your life and making money yet still not being able to buy things that you want.
She asked me a question that further revealed I've got some growing to do. She asked: "Kris, if I gave you $3M today, what would you buy?" It's funny because my wife has asked me this question many times about winning the lottery and whether I would still work if she won. I had the same answer for both of them which I'm going to ask for some grace and understanding about my state of mind. This answer could be a big part of my character and why certain things always seem to pan out in my life. I answered my therapist: "If you gave me $3M, I wouldn't think about buying anything, I'd immediately go into a state of action to try to turn that $3M into $3.5M and then $4M."
Now, she did not like that answer but understood it's the way my mind is wired(and probably yours too). But she went further to tell me about one of her client's father that passed away. She said he died with a $3M cash account and he was extremely wealthy. But the dad told the daughter in his last days he wished he would've spent some of the money. He didn't marry and he didn't travel but only focused on saving money. When she told me this story I thought of myself, & further how I want my memories to be at my end of days. I came to the realization-I don't want to die not having enjoyed this life a little. I'm saying all this to say, I understand the grind is real and it's a part of this stupid European capitalistic culture we live in. I get it. Perhaps we can sometimes step back and take an account of where we are on our short journey and what really matters.
We all see the mess on Instagram and social media about EVERYbody else living the dream. It can make you feel empty, lost, under appreciated and less than. But I've learned from Russel Simmons' book "Do YOU", the main goal we must strive for in life is a "comfortable seat". Meaning; try to make your life fit what YOU want it to be. In doing that, we must have a clear vision of what our financial goals are instead of trying to match our lives to the fake social media world.
Since I coach people from coast to coast, I have a clear pulse on how much money is needed to live comfortably in ordinary America. I'm not talking about the NYC's or the LA's or the Miami beach areas. So for this QOTD; How many rental properties do you really need in order to have an amazing life based on the average expenses in the US? I'm not looking for the answer that pays you $100k a month. I just want you to put some thought into a number that will allow you to have your 'comfortable seat' so you don't live your entire life chasing a goal or dream that's unattainable. That's a terrible place to be. Much success!👉Make sure to join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b…
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We had an electrifying training yesterday w/ my mentor Scott Jelinek yesterday. If you missed it, and you wanna know how to own rental property w/out doing a bunch of repairs like we do, then here's the link
👉youtube.com/live/WrmGNcN_nh4
I've been getting a lot of new landlord emails from people watching the content. My heart goes out to new landlords because if you're anything like I was back in 2006, you can sometimes make decisions based on emotion. Being a new landlord, I understand you most likely have a mortgage on your property. You also have a time clock ticking not only in real time, but in your head as well. The number one thing I was focused on when I acquired a new property was "when can I get my new tenant in my property".
Yes, we should be thinking about getting a new tenant. But that emotion can really throw us off our game when it comes to wisely choosing the right tenant for us. From the answers below, what's the biggest reason new landlords fall prey to shady tenants when it comes to installing a new tenant?
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Don't miss today at 4pm EST, my mentor, Scott Jelinek, will train us on how he built a 170 property empire but does not have any tenants and does NO REPAIRS to his properties. This exact strategy is how I've been able to stay in business.👉Set your reminder youtube.com/live/WrmGNcN_nh4
When I say I'm a landlord, most people think I'm a traditional landlord w/ tenants. But unfortunately I'm not. Since you follow my content, you know I rarely do traditional tenants because they're a PAIN IN MY BUTT. Once I learned the way to hold the property long term, it changed the way I did business and actually saved my business. When I sell my properties to a Tenant Buyer using a Lease Option, what is the standard interest rate to charge for the term?👉Make sure to join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b…
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There are many reasons MOST real estate investors don't last long term in this business. I know for 100% certainty that if it were NOT for my mentors, I would be among the ranks of the many people that fell into the investor grave yard. Back in 2010, I remember laying in my bed at night wondering how I was going to change my business model to start making money. In fact, I know for sure this bothers us all because just last week, I was walking on the Virginia Beach boardwalk and a guy came up to me saying he bought 10 houses but he still wasn't making any money. We talked for a while but he too over time changed his business model.
Most people think being a landlord is simply buying a property and sticking a tenant in the building. They then think that tenant is going to magically pay on time for the next 30 years. Nobody talks about vacancies and repairs and late payments and emotional people and all the mess we have to deal with. These are the things that take you out of business.
Being a traditional landlord was just NOT an option for me. And further I know for certain it's not a smart option for many other real estate investors as well. Now, I'm not saying I don't do long term holds, I just don't consider myself a traditional landlord like most people think. What strategy can we deploy to still have long term hold properties in our portfolio w/out being a traditional landlord? 👉Make sure to join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b…
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Driving to the gym today, I had a shocking epiphany. Directly next to the gym I go to EVERY DAY(shameless plug to get your butt in the gym too), there's a small subdivision of attached houses being built. As I've watched these men build house after house after house over the past year, today I noticed something that I didn't see before. It dawned on me that these men are working for the developer. This developer has hired them to work so the developer can get paid by selling his properties. The developer will be cashing in one by one when these houses sell.
As I coach and train people, I try to learn what makes them tick. I try to understand where they are financially so I can be the most effective coach in helping them reach their goals. One of the reasons I believe most Americans stay stuck financially is they don't quite understand how cash flows. YES, it's a great thing to have a job. I believe we all need one. The problem is, if you only have that job, ALL of your money is flowing away from you. The vision I saw from those buildings was this; Every dollar you earn will eventually leave your hands in exchange for the products and services of another human. It's just a matter of time before it leaves. I like the quote from Robert Kiyosaki "Money is like a piece of ice, it always melts away." The only other option we have as an Employee is to invest in paper assets like Bonds, stocks, ETF's, Mutual/index funds & the like. If we don't own assets, our money always leaves.
To combat this mass money "Exodus" in our lives, there is a solution where we can all take advantage of. From a mental perspective, what do we need to deploy in our lives so that some of the money we earn can be flowing to us, instead of away from us for our entire lives? This, I believe, is the #1 question we must answer if we want to develop our muscle for financial success.👉Make sure to join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b…
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Real estate investing since 2004 and been teaching others to buy and sell houses since 2010. My Mission: To raise your financial literacy through real estate and Entrepreneurship. There's a world that exists where you don't have to turn in tax returns, use your credit score, fill out a bank application or even use your own money to buy a house. This is a parallel world to the traditional way most people "think" you have to buy a house where you get a realtor and beg the bank or mortgage company to approve your application to give you a loan. You may be fooled or tricked into thinking alternate world isn't real but I promise you, for some people including me, it DOES.
Back in 2004 I started out investing in real estate the wrong way. That way was buying houses for full market value and trying to cashflow them as rentals. Over time, I lost all those houses to foreclosure and then in 2008 I learned how to do this business the right way. Join me to find out how it's done!