-Hey. How you doing? My name is Kris Krohn.
Today, we’re talking about standards when it comes to buying real estate. I’m going
to share with you how to know whether you have a good deal or not. So, check it out. You want to crush it in
the game of real estate but you’re really wondering “How do I know if I have
a really good deal? How do you even know what kind of deal you should buy? How do
you know what you should even be looking for?” And in today’s video, I believe I’m
going to give you some great clarity on that. I’m going to share three things
specifically that. I believe are going to help you with that and with that. Let’s
actually jump in with number 1. But not first without acknowledging, the monopoly
Scottie dog. When I play the game Monopoly, I win 87% of the time.
And superstitiously ,I’d like to believe it’s because of the dog. Reality is I
have rules that let me know when or how I’m winning. And in real estate, it’s the
same thing. I’m going to share 4 of them with you right now. So, check it out.
Number 1 biggest problem I see in the game of real estate is you need to know
what your niche is and you need to stick with it. Seriously,
hands down, one of the biggest problems that I find with people is they bounce
around they’re like well I’m doing a flip, now I’m doing a buy and hold. Now,
I’m doing an apartment. And they never really… They have a lack of congruence
and they’re trying to pick up experience everywhere not realizing how dangerous
it is. You know, when you do a deal, there’s a risk that it might not work
out. And if you’re doing it for the first time or second time, dude, you’re a novice.
You don’t know what you think you know. That can create a really significant
problem and having success. This document right here is called Chrome Consortium.
Bringing institutional structure and scale the single-family. This is my way
of basically showing people, “Hey, I’ve done over 4,000 homes just like this.
That makes me an expert in this space.” I’m averaging 25 to 30 percent annual
ROI. It’s crazy. Click in the link below and learn about
partnering with me I can give you some of these deals. But I have a different
tool that I really want to focus on today. Which is if you want to know
whether you have a good deal, 3 things. Number 1, what is your niche? Now,
is it rentals? Is it lease options, like I often teach people. Is it flipping? Is it
apartments? Is it commercial? You want to know what your niche is and then
whatever niche it is, you want to stick in that niche. Now, in the description
below, you can get a copy of my book for free. It’s this real estate book. And the
reason why I give it away for free is because I basically say, “There is a best
way to transact real estate. This is my opinion mathematically on
I think that is.” You don’t have to agree with me.
So bottom line, know your niche. Stick with your niche, master your niche. All
right? And I’ve given you some good resources if you don’t know exactly what
that niche is. The second thing, if you want to know whether you have a good
deal, well, before we can get to the good deal; now, we have to hit number two which
is what’s your philosophy? Like you have to have a definition of what a good deal
is. Is a good deal getting a property under value and basically getting it out
at a discount? Is it based on a certain ROI measure? You know, for me, when I help
people do lease options in their backyard like the book teaches, basically
what I’m doing is I’m helping you do kind of real estate where you’re
focusing on discount up front. Because you might not be in the most advantaged
neighborhood or city or area. If you’re doing nationwide investing and tapping
into the very best markets nationwide, I’m really focusing heavy on ROI. And I
got standards. I need a minimum of 25% annual ROI. Sometimes they have 30,
sometimes you have over 30%. But they got to have 25. Why is that my standard?
Because I know that my money’s going to double at least every 5 years after I
sell the thing and then double my portfolio, it’s part of a system. So, you
have to ask yourself after you know your niche that you’re going to stick with until
you master it, then the second thing you really want to know is “What’s your
philosophy? How do you define a good deal?” In my book here, I talk about a 15%
discount for a backyard deal being a minimum milestone. But ultimately, you got
to figure that out. For me, I focus these days more than anything on ROI. So, the
third thing that I want to share with you is you’ve got to crunch the numbers.
This is the third thing. And this is the scariest part for most people. But let me
show you how ridiculously easy this can actually be. If I take a $200,000 home
and then if that home has 2,000 square feet, then I can divide them into each
other. And guess what I find out? Hmm. This home is selling for $100 per square
foot. And then I could actually check the next deal. The next deal was actually
oddly enough was a 190,000 -dollar home for this 3-bedroom
2-bath. It was 1,900 square feet. And so, I divide
them into each other. What do I found out? Weird, it’s also $100 a square foot.
And then I check on 10 more deals. And one of them’s at 110 a square foot. And
one of them’s at 95 a square foot. One of them’s at 98. And one of them is at 103.
So far, you understand it, right? But then I’m looking at a deal that I can pick up
for $200,000 and I find out that it has 4,000 square feet. And I’m like, “Oh, I
divided this into that. And guess what I got?” $50 a square foot. Now, just think
about that for a minute. 93, 98, 100, 150. ♫ One of these kids ♪. Something is wrong here or there’s a fantastic deal that’s
brewing. So, I crunched the numbers and I get in my math and I figure out what’s
happening here. Same thing for me. These days, when I do my nationwide, the
biggest thing I’m looking at is ROI. Return on investment. I take all of the
math and the numbers and the future into account and I basically say over 5
years what am I going to average. And I have standards. My standard is it’s
got to produce at least 25%. If it does, I’m interested because that’s aggressive.
Most people struggle doing a real estate deal earning 10%. Maybe 12, but not about
15 not 20 and not 25. So, I have standards that’s gotten me to where I’m
at. I guess what I’m sharing with you today is if you want to know if you have
a good deal, you need to number one, understand what is my niche. Number two,
what is the philosophy or how will I know if it’s a good deal? And then number
three, you need to know how to crunch the numbers to actually verify. If you do
these 3 things, then you actually know what a good deal is. If
you have no idea, get a copy of my book and start somewhere that would be a
great place for you to start. Now, there is one last tool that I think is
really important for you to be aware of. By the way, if you’re liking this video
and it’s helpful for you, do me a favor, will you smash that like button? It tells
YouTube to basically put this video in front of some other people it’s a good
suggestion. Or you know, feel free to share it with someone else. But really
what I want to hit for you is, I find that the biggest reason why we don’t
have more millionaires in the game state is because people are scared.
They’re nervous, they lack confidence. And I could say read a book. But a book
doesn’t talk back. I could say go to an event but the speaker is not on speed
dial. That’s why I created a hotline. A real estate hotline that is basically
designed to be there… You know, it’s not 24/7. It’s business hours. But you can
basically talk with my expert real estate team and ask him any question on
crunching numbers, reviewing a deal, getting a mortgage lined up, finding a
credit partner. We do all of these things. And this is the same team that I’m using
to transact a property just about every single day. They’re super knowledgeable.
They’re the ones who have helped me do thousands of deals. And if you click in
the description below, you can actually you know, click on a website that’ll tell
you a little bit more about it. I’ve done everything in my power to make it so
crazy affordable. This is the one thing I wish I would have had. This like a mentor
in your pocket. Someone knowledgeable, it can walk you through and help you
understand what’s missing. And so, that real estate hotline is something I
highly recommend if you’re brand new. If you don’t know where to start,
get the hotline. If you’re looking at a deal and don’t know if it’s a good deal,
get the hotline. If you’re stuck in stagnant, get an outside perspective.
Bottom line is you should always be buying real estate once you start until
you build all of the wealth that you possibly want. And so I now created a
tool that you’ve been asking for and now it’s available. So, click the link below
we’ll get that to you. We get this one life. I don’t know what comes next. I
don’t know what its rules are. For the most part, but my belief is that we were
sent here for a reason. And for me, as best as I can sum that up, it is to
express my purpose and to have it all. Which means I want to create as much
wealth, health, connection as I possibly can. Find balance in each of those areas.
Tear it up, achieve, win, learn, grow. Make it through my struggles and difficulties
successfully. Get to the other side and ultimately I found great happiness. Today,
I’m doing that and serving you. So thank you so much for watching today’s video.
Make sure that you give it a thumbs up and like it. And otherwise, click the
video that the internet thinks you’re going to like next from my channel. And
otherwise, click the link below and we will get you started with the real
estate mentor and how that you need at a fraction of the cost.
So you get going confident in your real estate. Take care.