Kris Krohn here with Limitless TV. Today we're talking about investing in real
estate and I've been getting a lot of great questions from you and I want to
answer them today. One of them predominantly on the idea of, alright I
want to do your system, I want to build this wealth and yet if my market isn't
working for me in my backyard, how do I build a success team miles away and have
the same kind of success that you're suggesting?
My brother, Matt, thank you so much for submitting the video. It's a fantastic
question and good on you for reading the book and watching these videos and
learning and growing. Super proud of you and you're probably German because
Schmitz? That sounds like a really awesome German
name, Krohn, one German to another, we got to have we got a pitch in and help each
other out, right? So I'm gonna do that for you right now. Today's video is dedicated
directly to you. These are the questions that you asked: "I was the follow your
system that you laid out in your book which I have right here. I'm about
halfway through reading it and maybe I haven't found the answer yet. It's in
here somewhere but how do I figure out the best way to figure out the best city
to start investing in?" - Super smart question you're learning that your
backyard doesn't have to be the default. So first of all, you should look in your
backyard to see, is this a growing city? Is this a thriving city? What's the
median income here? Ultimately, I'm looking for an area where I can be the
nice homes that are not slumlords that aren't the brand-new expensive stuff
right there in the middle, single-family, three to five bedroom homes and I'm
looking for home, I'm hoping that your area has a median income higher than the
national average, especially in those areas, it'll mean nicer tenants, lower
vacancies, more cash flow, you're going to be better off. But your backyard may not
be the best place to invest. Some people live in San Francisco and New York and
places where super unrealistic because the median is well over two hundred
thousand dollars.That is why, what I do, Matt, is I go invest in the nation's
hottest markets so if you're ready to start doing the system, the first thing
I'm going to say is, you've got to build a team where you want to invest and I've
got some videos that teach how to do that but I've already done it and so you
actually might be able to just step right onto my team and have my team do
the work with you and that would be an awesome shortcut directly of what you
could do and that would be pretty awesome. My team will take you to markets
like Florida, North Carolina, Memphis, and Indianapolis and if you're just starting
off the gate and focusing on growth, I'm going to emphasize North Carolina and
Florida, is two really excellent markets for you to play in right now. - "How do I
form a team hundreds of miles away? People that I've never met before, I have no idea
about and I have no idea about the area where I started without contact." - Building
a team from a distance is, it's a lot of hard work, honestly, when you're just
starting off the gate. It's a lot more realistic to build a team in your back
yard. If you know your back yard is not gonna work, that's where I've made my
open invitation that says, "just use my team" 200 experts lined up in the hottest
markets and I've paid my dues and paid my time and I paid my money and now
they're there and they're available and they have an access of deals. So my
recommendation is just have my team do it for you. What are they going to charge
to make that possible? As little as nothing and then just charge you a
transaction fee for playing the parts of lining up the financing and the funding
and the housing and the repairs and putting the tenants in and doing all
those pieces, you're gonna pay, you know, your normal realtor and loan fees, etc.
across the board that you have to pay anyway, but they're usually reduced with
my team because they're all in-house and they're all with one singular team.
That's what I do, makes things super easy for me. If you're
just getting started, you need to be out of state, just use my team, it's a lot
easier than me spending hundreds of hours training and teaching you how to
do that. So let me share with you how I built my team. Before I went national,
I was just building locally in my area and I bought a lot of my real estate and
I noticed that I couldn't get a singular realtor to find me a good deal
consistently. So I went through hundreds of them, using some of the techniques I
show on some of the other videos here, and finally I found one by the name of
Steve Earl, that could consistently produce really good properties every
single time, he became a part of my team. Then I need a lending team and so what I
did is, I found a loan officer that was fair, gave me group volume rates, had
really good ratings with a bunch of different banks who was super
experienced and investment and that became a part of my team. I created my
own property management person, I gave them all my homes and they became a part
of my team and that's the real basic crux of a good team as a solid realtor
in the area, a solid loan officer, and a solid property manager. There are other
members that you can add but those are the three elemental pieces that are
really important. After I started doing a lot of local real estate and had
a lot of money coming in, it was easy to justify expanding into a nationwide team
and learning how to network with people out of state, my team today just, I let
people just use my team and instead of needing to pay really big fees upfront,
you can step right in if you've got the money and credit ready to go or you've
lined up a partner with credit and money ready to go, you can step right into my
team, pay your typical transaction fees and that's what the shortcut would look like.
"What's the length of time you give a tenant the option to buy a house or
what happens if they don't buy or the option expires?"
You know, kind of like I explained
in my book, I usually like to do lease options on a 24-month basis and
I would give people a one-year option to renew, if they've kept their nose clean,
if they've made their payments on time. I love working with people that are
dependable and reliable on making their payments and do what they say they're
going to do and obviously you're gonna encounter a lot of people that don't do
that and those are the people that I don't want to give long terms to. In fact,
all of my contracts say that every 12 months
I can choose out if they've had any late payments so it's up to my discretion to
choose back in if I felt like, oh they went through something reasonable, they
lost a job, they were a little late but then they caught up and they made good
on it, I feel good about renewing this contract and I want that power to stay
in my hands. Keep on asking questions! You now have the ability to click the link
below and submit videos of the questions that you have and we look forward to
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For more infomation >> How to Build a Better Villain / The Goopopolis Swindle - Duration: 23:56. 
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