Oh, I see. You're one of those. You think that it takes money to make money. You
could not be more wrong. Are you kidding me? It does not take money to make money.
And in today's video, I'm going to prove it. I'm going to be talking about O-P-M. Not opium.
Other People's Money. And how I have used it to go and take $5,000
of hard-earned safe cash and turned it into 1.6 million dollars. True story.
Okay, so here's really the big question for today. I'm going to share with you and
break it all down how I did this. But I want you to be thinking OPM. Other
People's Money. Like what does that even mean? This is a really important thing
for you to understand because in the world of real estate you can use other
people's money to do things. In fact, that's true of business that's true of
most things. I need you to understand that one of the, one of the core reasons
why people aren't going out there from watching these videos and doing real
estate is they're believing thoughts and ideas in themselves that limit them. And
one of those ideas is it takes money to make money. I'm telling you right now, if
you're waiting to have all the knowledge, if you're waiting to have all the money,
if you're waiting to have all the credit, you might actually never get started. And
that's the problem is that most people they leave living a mediocre life. It's
not like they set out and said, "Wow, my dream is mediocrity. My dream is to go
nowhere in life." I mean, that might be some people but for most people, I
think what's really going down is what they're really saying is, "Oh, I want to
have a great life. I want an abundant life. I want to do amazing things." But I
don't have the resources. And what I want you to understand is it's not about
whether you have resources. It's about how resourceful you are. You see OPM is a
resource. The money exists. If you want to be a deal maker and you want to put
deals together, you need to understand that you don't have to possess all the
resources. That is your limited-school-head-down-learning kind of thinking that
is broken and simply doesn't work. Now, I am an entrepreneur and entrepreneurs are
known for being outside the box. So let me share with you a little bit about my
story and how I went outside of the box and turned literally $5,000
into 1.6 million dollars. I had already caught the real estate bug. I
knew that I wanted to make millions in real estate. But I didn't know how. And my
very first mentor, he gave me some practical advice. It's not the advice I
would give you today because the reality is I know how to go a lot faster than my
first mentor told me. But this is really what he said. He said, "Kris you should be
at your job for at least 2 years. You know, so that you can get qualified for a
loan with the bank. You should also get 3 credit cards and you should keep
them paid off so that you can show the banks that you're responsible. But they
need to to your history with you only 3 credit cards. And number 3 you
got to get a little money in the bank. Like get 5 grand in the bank.
Because you can put 3% down on a home that you're going to buy and live in that can
double as an investment property." Let me just slow that down. I want to
make sure you heard that. He basically said, state your job for 2 years. I was
already there for a year so I just needed one more year.
He said get 3 credit cards to show the bank creditworthiness. I had one, I
needed to get 2 more. And then he said, make sure that you have $5,000 saved in
the banks. You had a little down payment. I took this mentors advice and I am really
glad that I did by the way. Even though I know how to go way faster. That
put me on hold for 14 months. But 14 months went by and I had my 5 grand.
Tou know what I did with it? I took that $5,000 and I used it as a down payment
on a house that had a bunch of equity in it. And it was worth 150
I bought it for a 110. And I can't tell you how thrilled I was. I mean,
I was going to move into it it had a basement apartment. Rented that out. And
basically for a year, I just... I was making my plans for my next house. And I know
how to resource because this house had all this equity. I remember I went to
Wells Fargo the bank and I said, "Hey, can I pull some of this equity out?" And they
gave me what's called a home equity line of credit for 18,0000
something change. And that $18,000, I took that and if I
borrowed it out of the house, I was going to have to make a payment on it. So I used
it and I put it into the second house that I purchased. Now, the second house
that I bought ended up producing a $600 month cash flow after I made my payment.
So, it was thrilling to be getting ahead so much. In that house I had bought I
ended up making $130,000 on. In fact, the equity
in that house guess what I did with it. I bought more houses. In fact, it helped me
by my third property. Now, remind you. I'm still only $5,000 out of
pocket. But I got these 3 homes. And at that point, something really cool
happened. My father-in-law who was super skeptical of what I was doing. Now, that I
had done it 3 times, he was willing to kind of put that skepticism on trial.
And he said, "Kris, break down for me what you're doing." And I showed him how this
little bit of money was making me all this money. And guys, I don't want to tell
you the ROI because it's astronomically huge. When you take a small amount you
turn it into you know a couple hundred thousand dollars in net worth and over a
thousand dollars a month of cash flow after living and
entirely for free. I mean that's pretty awesome. So, he decided to take a bet on
me. And on my fourth deal, he said I'll put the money in and we'll split it
50/50. We did it, we we made money on that deal
and because it worked, we said, "Well, let's do it again." We did it again, we did it
again. I remember I was sitting in college. This
was my senior year. I had about 10 homes at the time and I sat there a thinking,
"Man, can't wait for college to be over I'm not really going to use this degree." But
I've bought now these 10 homes. I want to go faster. I want to go faster like this
works. But my father-in-law can only buy so many houses. And I need to wait
for my real estate to mature but how do I go faster? And that's when I have this
idea. I need more father-in-law's. There's got
to be like... Can I like plural marriage or.. Okay, that's a bad joke. But what I ended
up doing... Seriously, I can't even hear you guys laughing. It's stupid.
But seriously, what I ended up doing was thinking there's got to be other
father-in-law's out there. And I made a list. You can do this by the way. I made a
list of people I knew that we're crushing it in corporate America and had
been working there for 20 plus years. Now, conservative individuals that are making
a lot of money in corporate America, they are excellent 401k -ers IRA -ers House payer
off-ers. That was my assumption. I wrote down a list of four people and I just...
I'm going to tell you it took like a huge act of courage because I was scared. But
I called him up and I said, "Can I take you to lunch?
You know I've been doing this thing in real estate. I want to actually show you
what I've been doing." And all 4 of them, you know what they said? They said sure.
In one week I took all 4 of them to lunch. Just kind of one at a time and I
showed him my 10 properties. I showed him my returns. And I showed him how much
money I was making my father-in-law who was my partner. And you know what? All
4 of them individually, independently decided. You know what? I've got money
sitting in my IRA or my this or that or home equity. Let's partner together. So, I
started buying a home every single month. This is what got me to 25 properties. And
even though I was splitting everything with them, it was so lucrative. I was
clearing on average over $12,000 a month. And that's when I decided to
quit my job. Friends at that point, 4 and a half years later from that first
house, my net worth on those 25 properties for my part of the ownership,
1.6 million dollars. My personal income, $12,000 a month. And that was enough for
me to quit my job. Now, that all happened because of the scene here called OPM.
Other People's Money. So, let me share with you the top three OPM strategies.
Okay, the first one, is you can just go and borrow money from bank. Now the bank
on an investment property or a primary residence, they're going to want anywhere
from a 3% down payment all the way to 20% and that for some people is a
lot of money. I had to save up 14 months to get my 3%. Some of you have money
sitting around and you could actually put 20% down. And the bank will lend the
other 80 to 97 %. So a bank is your most common source of other people's money.
Your second source is that if you can use the strategy to get yourself into a
house, if you buy that house intelligently, if you buy it at a
discount. Buy low, sell high. If you... If you buy it with some equity, guess what you
can do? That house can be your bank and it can give you the money. And all you're
going to need is the credit. In this situation, you need credit and money or
at least someone's credit into someone's money. Here you just need credit to
access from that house. And the third one that I was sharing with you is a partner.
A partner is a person that says, "Wow, I admire your track record or I respect
what you're doing or your system and it looks like it's working for you. Can I
kind of be more of a passive role and give you the money and we can kind of
team up on this?" These 3 strategies. A bank, a house and a partner. Friends, these
are really excellent tools that you can use for launching yourself into the game
or real estate and crushing it. Now, if you're ready to take action but you just
don't know where to start, what you probably need is a private custom game
plan. because you might be saying, "I don't have credit or I don't have money or I
have a 401k or IRA or I have this asset or I just don't know where to go from
here." and I actually have a team in my entire empire that I built whose job is
basically to talk with my YouTubers and answer questions and give you a custom
game plan. Basically put themselves in your shoe and say, "Wow, if I were you how
could I help you or what would I do to get my first properties rolling?" If that
would be useful for you, all you got to do is click the link in the description
below and boom, my team will be in touch with you
in the next day or 2. And we'll give you that custom million dollar gameplan.
Friends, thank you so much for watching today. If you are not, make sure you are a
subscriber. You can like this and if the video is good for you, share it with
somebody. Put it on your social media and share with them what you've been
learning in this game are real estate or comment on it below.
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